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NBS Rebases January Inflation Basket to 24.48%
The bureau put food inflation at 26.08 percent year-on-year.
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: Court Grants Nasir El-Rufai N100m Bail Over Alleged National Security Breach
The Federal High Court in Abuja has granted bail to former Kaduna State Governor, Nasir El-Rufai, in the sum of N100 million with one surety in like sum.
Justice Joyce Abdulmalik handed down the ruling on Monday in the case filed by the Department of State Services (DSS), which is prosecuting El-Rufai for alleged breach of national security.
The former governor had publicly admitted on national television to wiretapping the office of the National Security Adviser, Mallam Nuhu Ribadu.
While granting the bail application, Justice Abdulmalik imposed stringent conditions for its perfection. The proposed surety must:
- Reside in either Maitama or Asokoro, Abuja, and deposit the original Certificate of Occupancy of a landed property with the court registry.
- Be a federal civil servant on Grade Level 17 or above.
- Submit proof of salary payments for the past three months, supported by an authentication letter from the branch bank manager within the court’s jurisdiction.
- Swear to an affidavit of means, sign a bail bond, and provide a recent passport photograph.
Additionally, El-Rufai must surrender all his valid passports to the court. The surety is also required to provide a verification letter from his immediate department and a tax clearance certificate for the last six months.
The court further directed El-Rufai to submit a letter of attestation from the Chairman of the Kaduna State Traditional Council.
As part of the bail conditions, the former governor must report to the DSS headquarters on the last Friday of every month by 10 a.m. to sign the attendance register until the determination of the case.
Justice Abdulmalik warned that any violation of these conditions would result in the immediate revocation of the bail. The court also ordered an accelerated hearing of the matter.
News
Abu-Bilal al-Minuki: Deadly But Harmless Looking – Poison Dart Frog
Positions that used to be dominated by Syrian and Iraqis in the top echelons of the Islamic State leadership are now filled by African veteran jihadists from all over the continent.
Abu Bilal al-Mainuki was elevated to the position of head of the Islamic State General Directorate of Provinces, replacing Abdul Qadir Mumin (Somali national) only three months ago in February 2026.
This placed him as the second in charge of the Islamic State global organization right after the Caliph Abu Hafs al-Hashimi.
Positions that used to be dominated by Syrian and Iraqis in the top echelons of the Islamic State leadership are now filled by African veteran jihadists from all over the continent.
Before February 2026, Abu Bilal al-Mainuki was head of the al-Furqan regional office which oversees the Sahelian, Libyan and West African Provinces.
Before that he was second-in-command to Abu Musab al-Barnawi, he was a staunch ally of the latter during the split and war against Shekau’s JAS (Boko Haram) and was a significant pillar in consolidating the gains captured from Shekau following his death and the mass defections from JAS to ISWAP.
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Senate Rule Amendment: Debate Should Focus on Institutional Stability, Not Personalities – Eyiboh
The heated controversy triggered by the recent amendment to the Senate Standing Rules has been dominated by personalities and emotions rather than substantive institutional issues, Rt Hon Eseme Eyiboh has said.
In a strongly worded statement, the Special Adviser on Media and Publicity to the Senate President argued that the core question before the Senate is not about Senator Godswill Akpabio or Senator Adams Oshiomhole, but whether Nigeria’s legislature should strengthen itself through rules that promote continuity, competence, and long-term stability.
Eyiboh noted that every serious institution worldwide periodically reviews and updates its rules in response to practical experience. “The refusal to review procedures in the face of experience is often a sign of stagnation, not democracy,” he said.
The amendment, which sets a minimum legislative experience threshold for senators aspiring to presiding and principal offices, should be examined through the lens of institutional development, he added.
The former House of Representatives member emphasised that the Senate Presidency is one of Nigeria’s most sensitive constitutional positions. It demands more than political popularity — it requires deep knowledge of parliamentary procedures, committee systems, constitutional interpretation, negotiation, and intergovernmental relations.
“Experience matters,” Eyiboh stressed.
He acknowledged that critics have valid concerns that experience requirements could entrench incumbents and create a closed oligarchy. However, he maintained that the proper response is not to reject minimum standards, but to set a reasonable bar — such as one full term or proven committee leadership — and commit to periodic review to prevent the rule from becoming a barrier to fresh talent.
“Experience without openness becomes arrogance; openness without experience becomes amateurism,” he said. The amendment, according to him, tilts towards correcting amateurism while safeguarding institutional stability.
Eyiboh dismissed suggestions that the rule change was merely intended to shrink competition or protect personal interests. He argued that institutions grow stronger by learning from experience and refining their processes, not by freezing rules indefinitely.
On calls for Senate President Godswill Akpabio to resign if the new qualification is enforced, Eyiboh described the argument as fundamentally flawed. He pointed out the well-established legal principle that laws and rules apply prospectively, not retroactively.
“Senator Akpabio emerged under the rules in existence at the time. Applying today’s standards to yesterday’s mandate is neither legally sustainable nor institutionally rational,” he said.
The statement urged Nigerians and senators to elevate the discussion above personal rivalries and chamber politics. While affirming Senator Oshiomhole’s right to hold dissenting views, Eyiboh insisted the debate must centre on whether the amendment strengthens the Senate as a durable institution.
“Institutions outlive individuals,” he concluded. “Senate Presidents will come and go. But the rules and traditions we establish today will shape legislative stability for decades to come.”
Rt Hon Eseme Eyiboh, mnipr, is a former Member and Spokesperson of the House of Representatives and currently serves as Special Adviser on Media/Publicity and Official Spokesperson to the President of the Senate.
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