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NBS Rebases January Inflation Basket to 24.48%

The bureau put food inflation at 26.08 percent year-on-year.

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The National Bureau of Statistics (NBS) has stated that Nigeria’s Headline Inflation dropped to 24.48 percent for the month of January 2025, from 34.80 percent in December 2024.

The bureau put food inflation at 26.08 percent year-on-year.

Speaking during a press briefing on Tuesday in Abuja, the Statistician of the Federation and the CEO of NBS, Prince Adeyemi Adeniran, said the new figure was as result of the rebasing of Nigeria’s inflation basket to keep it updated to international standard.

He stated that the country last rebased its inflation in 2009, thus using prices of goods prominent during the period.

“This rebasing process also allows Statistical Offices to introduce methodological enhancements to their computation procedures and align with global best practices.”

“Under this process, NBS is not only bringing the base year closer to the current period, from 2009 to 2024, but we have also introduced some critical methodology changes to improve the computation processes and quality of the estimates.

“Under the CPI, important enhancements have been made to the methodology.

Some of the improvements include the transition to the latest version of the classification method, the Classification of Individual Consumption.

According to Purpose (COICOP) 2018 version, from the 1999 version of COICOP, the new version has 13 divisions, bringing in household expenditure on Insurance and Financial Services, which now has a weight of 0.5% relative to the total household expenditure.

Another important improvement is the exclusion of own-production, imputed rents, and gifted items from the aggregates used to come up with the weights.

This is because CPI is a monetary phenomenon. Hence, the computations should only include monetary expenditure.

Also implemented under this rebasing is the movement of expenditures on meals away from home to the appropriate divisional class.

These changes are quite significant and appropriately align expenditures to their respective classes, enabling price changes to be measured properly.”

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JUST IN: IGP Disu Assigns Portfolios to New DIGs

DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.

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The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.

Sources said that the DIGs were assigned departments based on their areas of competence.

DIG Zachariah Fera Achinyan has been deployed to Legal Services,

DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.

Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);

DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.

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Airport Access Gates: FG Approves Cash and FAAN Go Cashless Cards for Payment

The statement also noted that motorists who already possess FAAN Go Cashless Cards can continue using them until further notice.

In addition, other electronic payment channels, including Point-of-Sale (POS) terminals and approved digital platforms, will remain available

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The Federal Government has directed the Federal Airports Authority of Nigeria (FAAN) to accept both cash and electronic payments at airport access gates nationwide, as part of efforts to ease traffic congestion.

The directive followed a meeting between the Minister of Aviation and Aerospace Development and officials of the FAAN, alongside senior officials of the ministry, on Tuesday.

The move comes after President Bola Ahmed Tinubu ordered the suspension of the full cashless payment system at airport access gates following complaints that it had caused traffic gridlocks.

In a statement issued in Abuja by the minister’s Special Adviser on Media and Communications, Tunde Moshood, the government has resolved to gradually transition to a fully automated payment system at airport access points.

As part of the interim measures, the ministry announced that a hybrid payment system allowing both cash and card payments will take effect at all airport access gates from March 13, 2026.

The statement also noted that motorists who already possess FAAN Go Cashless Cards can continue using them until further notice.In addition, other electronic payment channels, including Point-of-Sale (POS) terminals and approved digital platforms, will remain available

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LASEMA Cautions Social Media Platforms Against Circulating False News

LASEMA Permanent Secretary, Dr. Olufemi Damilola Oke-Osanyintolu, made the call today following his visit to a collapsed three-storey school building at Yemco Schools, Daycare Nursery, Primary and Comprehensive College, located at 11, Adu Street, Behind County Hospital, Aguda, Ogba, Lagos State.

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The Lagos State Emergency Management Agency (LASEMA) has cautioned news platforms, especially social media against the circulation of misleading information.

LASEMA Permanent Secretary, Dr. Olufemi Damilola Oke-Osanyintolu, made the call today following his visit to a collapsed three-storey school building at Yemco Schools, Daycare Nursery, Primary and Comprehensive College, located at 11, Adu Street, Behind County Hospital, Aguda, Ogba, Lagos State.

He said : “In situations like this, inaccurate reports and exaggerated claims can create unnecessary panic within the public.

“We urge members of the public and media platforms to rely only on verified information released by official government agencies such as LASEMA and other authorized emergency management bodies.

Spreading unverified information during emergencies can hinder response operations and misinform the public.

” First and foremost, I want to reassure the public that this incident did not result in any loss of life.”

He emphasised:” After careful assessment and rescue operations, I can confirm that all individuals within the vicinity of the building were accounted for and no casualties were recorded. Because no lives were lost, we categorize this situation not as a disaster but as an emergency incident, which was quickly managed through coordinated response efforts.”

According to him, emergency responders from the Lagos State Emergency Management Agency and other first responders were immediately deployed to the scene to conduct a thorough search and safety assessment.

Our emergency teams promptly secured the environment, carried out safety checks, and ensured that there were no trapped victims within the structure.

The safety of residents, students, and staff remains our top priority.

The Lagos State Government remains committed to protecting lives, ensuring rapid emergency response, and maintaining public safety across the state.

We will continue to work with relevant authorities to assess the structural integrity of buildings across Lagos and enforce safety regulations where necessary.

Once again, I want to reassure residents that the situation has been fully contained and there is no cause for alarm.”

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