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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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BREAKING: Tinubu Orders Immediate Withdrawal of Police Escorts from VIPs

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President Bola Ahmed Tinubu has directed the immediate withdrawal of police officers currently attached as security details to Very Important Persons (VIPs) across Nigeria.

The directive, issued during a high-level security meeting on Sunday in Abuja, mandates that the affected officers return to core policing duties to strengthen security in communities, especially in underserved and remote areas where police presence is critically low.

Henceforth, VIPs requiring armed protection must request personnel from the Nigeria Security and Civil Defence Corps (NSCDC).

The President emphasized that the move is part of efforts to address the country’s security challenges by boosting police visibility and effectiveness nationwide.

President Tinubu has already approved the recruitment of 30,000 additional police officers and is working with state governments to upgrade training facilities.

Sunday’s meeting was attended by the Chief of Army Staff, Lt Gen Waidi Shaibu; Chief of Air Staff, Air Marshal Sunday Kelvin Aneke; Inspector-General of Police, Kayode Egbetokun; and Director-General of the Department of State Services, Tosin Adeola Ajayi.

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UPDATE: President Tinubu Confirms Rescue of 38 Kwara Worshippers, 51 Niger School Children (Video)

In a message posted on his official X handle , the President assured Nigerians and the global community that he is closely monitoring the security situation nationwide and receiving continuous updates from the frontline.

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President Bola Tinubu on Sunday confirmed the rescue of all the 38 persons recently abducted in an attack on Christ Apostolic Church (CAC) Eruku, Ekiti LGA, Kwara State, and the fifty-one among schoolchildren kidnapped in Niger State.

In a message posted on his official X handle , the President assured Nigerians and the global community that he is closely monitoring the security situation nationwide and receiving continuous updates from the frontline.

He insists he will not relent.

He stressed that every Nigerian in every state has the right to safety, and that under his watch the government will secure the nation and protect its people.

He also recalled that he cancelled his trip to the G20 Summit in South Africa to enable him coordinate security efforts at home.

The President’s update follows a succession of security incidents that have unsettled the country including the mass abduction in Kebbi State, the attack on worshippers in Kwara, and, in quick succession, the kidnapping of more than two hundred students in Niger State , incidents that have also resulted in casualties.

The Office of the National Security Adviser; the Department of State Services (DSS); the Nigerian Army; Nigeria Intelligence Agency; and the Nigeria Police, have deployed four new tactical teams to Kwara State on the directive of the President.

Watch video below:

https://www.facebook.com/share/v/17UgL87nia

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Kwara Church Defies Attack, Holds Service Despite 38 Worshippers Abducted

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The Christ Apostolic Church, CAC Oke Isegun, Eruku, Kwara State, on Sunday, held a special service inside its blood-splattered auditorium, praying for the safe return of kidnapped members and the repose of those killed during Tuesday’s brutal bandit attack.

The church on Sunday officially confirmed that 38 worshippers were abducted, contrary to earlier claims circulating on social media.

Speaking on Sunday, the church secretary, Michael Agbabiaka, said the church initially compiled 35 names of abducted members, but further verification revealed that three non-members were also taken, bringing the total number of hostages to 38.

“The rumour that over 60 people were kidnapped is not true. I have a list with their phone numbers. We don’t want any misinformation. We have 38 people inside the bush. Three died, and one victim is in the hospital receiving treatment,” he said.

Agbabiaka further disclosed that the kidnappers, who initially demanded N100m per victim, later reduced the ransom to N20m each after negotiations before cutting off communication on Friday.

He noted that although shock and fear still gripped the town, the church encouraged members to attend the Sunday service to strengthen their faith.

“We thank God for life today. You can see that only a few people came because it has not been easy. But God gave us courage.

“We also thank the government for deploying security. They are patrolling the town, and even here in the church, security operatives are present,” he added.

Earlier during the service, the presiding pastor, Bamidele Lawrence, described the attack as a test of faith for the congregation. Quoting 2 Peter 3:10, he urged worshippers not to lose hope, saying he received divine assurances concerning the abducted victims.

“The first promise God gave me is that all our kidnapped members will gain freedom very soon.

They will not die in captivity. “God says He will assist us. Our children, mothers and wives will come out strong. It will be a miracle to the world when our people regain their freedom”, he said.

He also told the congregation that the worsening insecurity in Nigeria would attract divine intervention and urged them not to fear, saying current events were part of biblical prophecies about the end times.

One of the affected worshippers, James Ige, whose wife and son were among those abducted, pleaded with the authorities to intensify rescue efforts.

“I beg the government and security agencies to do everything within their capacity to bring my family back safely,” he said.

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