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
NEC, Police Intensify Security Plans Ahead of 2027 General Elections
The Chairman of the Independent National Electoral Commission (INEC) Professor Joash Amupitan, SAN, has described security as the foundation of credible elections, calling it the “first and last mile” of the electoral process.
He made the remark during a courtesy visit to the Inspector-General of Police, Olatunji Disu, in Abuja, where he sought stronger collaboration between INEC and the Nigeria Police Force ahead of the 2027 General Elections.
Professor Amupitan said that preparations for the elections were already underway, with Presidential and National Assembly polls scheduled for January 16, 2027, while Governorship and State Assembly elections are fixed for February 6, 2027.
He noted that the release of the election timetable and ongoing political party activities, including ward congresses and conventions, have effectively activated the electoral process and heightened security concerns nationwide.
The INEC Chairman also pointed to upcoming off-cycle governorship elections in Ekiti and Osun States, as well as several bye-elections across the country, describing them as important tests for Nigeria’s democracy.
He warned that electoral malpractice, vote buying, political violence and insecurity remain major threats capable of undermining public confidence in the electoral system.
Professor Amupitan stressed the need for proactive policing, intelligence gathering and early risk assessments to identify potential flashpoints before the elections, and reaffirmed INEC’s commitment to working closely with security agencies through the Inter-Agency Consultative Committee on Election Security (CCES), describing it as central to ensuring the safety of voters, electoral personnel and materials during the polls.
The Inspector-General of Police, Olatunji Disu,in his remarks assured INEC of the Police Force’s readiness to provide adequate security before, during and after the elections.
He disclosed that nationwide intelligence mapping and threat assessments had already commenced, with concerns such as political violence, illegal arms proliferation, voter intimidation, cyber threats and attacks on electoral infrastructure identified as priority risks.
The IGP also pledged that the Police would remain professional, impartial and guided strictly by the Constitution and the Electoral Act, and warned that officers involved in partisan activities would face disciplinary action, while personnel assigned to election duties would undergo intensive training in electoral security management, human rights compliance and crowd control.
He further called for stronger inter-agency cooperation, joint trainings and sustained stakeholder engagements to guarantee peaceful and credible elections in 2027.
News
BREAKING: IED Explosion Kills Six, Injures Six Others in Zamfara State
At least six people were killed and six others injured after an Improvised Explosive Device (IED) exploded in Zamfara State on Thursday.
The blast occurred in an unspecified area of the state, according to initial reports. Details on the exact location and circumstances surrounding the explosion remain limited as security forces have cordoned off the scene.
Emergency responders and security personnel have been deployed to the area. The injured victims have been rushed to nearby hospitals for treatment.
This incident comes amid ongoing security challenges in parts of Zamfara State. Authorities are yet to issue an official statement or confirm the cause of the explosion.
More details are expected as the situation develops.
News
JUST IN: Former Power Minister Mamman Convicted of N33.8bn Fraud
Justice James Omotosho held that the Economic and Financial Crimes Commission (EFCC) proved its case beyond reasonable doubt, finding Mamman guilty of illegally diverting public funds linked to the Mambilla and Zungeru Hydroelectric Power projects.
[File photo] : former Minister of Power, Saleh Mamman
A Federal High Court in Abuja has convicted former Minister of Power, Saleh Mamman, on a 12‑count charge of fraud and money laundering involving about ₦33.8 billion.
Mamman, who served in the administration of former President Muhammadu Buhari, was found complicit in the illegal diversion of public funds totalling about ₦33.8 billion.
The court found that he made a cash payment of $655,700 (equivalent to ₦200 million) for landed property in Abuja, without recourse to a financial institution.
Justice James Omotosho held that the Economic and Financial Crimes Commission (EFCC) proved its case beyond reasonable doubt, finding Mamman guilty of illegally diverting public funds linked to the Mambilla and Zungeru Hydroelectric Power projects.
The court also found that Mamman used the funds for personal gain, including paying $655,700 (about ₦200 million) in cash for landed property in Abuja—beyond the legal limit—and acquiring luxury assets in Nigeria and abroad.
Justice Omotosho described the prosecution’s evidence as “overwhelming,” saying Mamman failed to offer any credible defence, while the EFCC presented 17 witnesses and 43 exhibits to support the case.
The court noted that most of the funds were siphoned through Bureau de Change operators (BDCs), who converted the money into foreign currencies and handed it over to the defendant.
“The evidence of the prosecution is overwhelming as against the scanty and almost absent defence of the defendant.
“The defendant did not offer any credible evidence to rebut the prosecution’s case,” Justice Omotosho held.
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