News
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.”
News
Police hunt for abductors of Ebonyi ex-deputy Governor’s Father
Eyewitnesses said that armed men on a motorcycle intercepted his vehicle, forced him out, and whisked him away to an undisclosed location.
The Nigeria Police Force in Ebonyi State has confirmed the abduction of Francis Igwe, father of former Deputy Governor, Kelechi Igwe.
He was reportedly kidnapped on Sunday morning while on his way to church in Ndufu-Alike community.
Eyewitnesses said that armed men on a motorcycle intercepted his vehicle, forced him out, and whisked him away to an undisclosed location.
The Chairman of Ikwo Local Government Area, Sunday Nwankwo, confirmed the incident, noting that local authorities are working closely with security agencies to facilitate his rescue.
Also confirming the development, the Police Public Relations Officer, Joshua Ukandu, said operatives have intensified efforts to ensure the victim’s safe return.
News
A Lagos Drug Kingpin Ends Up in NDLEA Net After 13 Years in Hiding
Reacting to the eventual arrest of Chidiebere after 13 years on the run, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd), said that the agency remains resolute in dismantling criminal networks and bringing all offenders to justice.
Photo credit: NDLEA
The National Drug Law Enforcement Agency (NDLEA) has arrested a notorious drug kingpin, Reginald Peter Chidiebere after 13 years in hiding.
Femi Babafemi , Director, Media & Advocacy NDLEA Headquarters Abuja, made the disclosure in a statement on Sunday.
The drugs kingpin was caught by the operatives at the Murtala Muhammed International Airport (MMIA) Ikeja Lagos.
The drug lord was first arrested in 2013 over the shipment of cocaine into Nigeria and was subsequently arraigned before Justice Ayokunle Faji of the Federal High Court Lagos in charge no. FHC/L/187c/2923.
He however jumped bail and went into hiding after the trial judge granted him bail in 2013 and has since remained at large.
In February 2024, his name featured prominently as one of the masterminds of the shipment of 49.70 kilograms heroin imported from South Africa following the interception of the consignment by NDLEA operatives at the import shed of the Lagos airport.
A follow-up operation was carried out on 19th February 2024 at his Golden Platinum Hotel & Suites, located at No. 16/18 Reginald Peter Chidiebere Street, Hope Estate, Ago Palace Way, Okota, Lagos where an additional 2.20 kilograms of heroin was recovered from one of his guests, Igbuanugo Ebuka ThankGod.
As a result, Chidiebere went underground.
The agency however secured the interim forfeiture of his hotel and blocked all bank accounts traced to him since 2024.
Following these developments, Chidiebere could no longer sustain himself in hiding, prompting his surrender to the agency on 13th February 2026 and has since been taken into custody to face his pending charges for which he jumped bail in 2013 and fresh charges based on the 2024 heroin consignments linked to him.
Reacting to the eventual arrest of Chidiebere after 13 years on the run, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd), said that the agency remains resolute in dismantling criminal networks and bringing all offenders to justice.
“I commend our officers and men for their persistence and professionalism in this operation”, he added.
News
Governor Nwifuru Suspends Commissioners of Work and Infrastructure
The affected commissioners have been directed to hand over all government property in their possession, including their official vehicles, to the Secretary to the State Government without delay.
The Governor of Ebonyi State, Francis Ogbonna Nwifuru, has approved the indefinite suspension of the State Commissioner for Work, Engr. Stanley Lebechi Mbam, and the Commissioner for Infrastructure Development for Concession, Engr. Ogbonnaya Obasi Abara, over alleged dereliction of duties.
In a statement signed by the Chief Press Secretary to the Governor, Dr. Monday Uzor, the suspension takes immediate effect.
The affected commissioners have been directed to hand over all government property in their possession, including their official vehicles, to the Secretary to the State Government without delay.
No further details were provided regarding the specific circumstances surrounding the suspension.
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