Connect with us

News

NBS Rebases January Inflation Basket to 24.48%

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

Published

on

41 Views

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

VIDEO: Tears As Students’s Hostel Collapses

Published

on

17 Views

A building collapse occurred at Pentagon Lodge near the Alex Ekwueme Federal University, Ndufu-Alike, Ikwo, Ebonyi State on Friday.

Students witnessed the incident, with one student captured on video expressing concern over the lodge’s collapse, saying, “See my lodge is falling, all my properties are inside.

”A video clip of the incident, seen by Naija News House , showed the moment the three-storey building collapsed.

As of the time of filing this report, it was not clear whether there were causalities as details of the collapse are still emerging.

A student, also said that students in that particular lodge had earlier noticed the cracks on the walls and some had already moved out of the facility before the collapse.

“Only properties inside the building are likely those of students that traveled out of the town,” the source said.

Recently there were reports of building collapses in Ebonyi State, including a three-storey building under construction near the Alex Ekwueme Federal University Teaching Hospital.

In the construction building collapse, two persons were trapped and later rescued, with one labourer escaping due to stepping out to wash his hands before the collapse.

Sequel to the building collapses, the Ebonyi State government had established a special investigative committee to determine the causes of such incidents and prevent future occurrences.

The committee’s findings and recommendations aim to improve building standards and enforcement in the state.

Click here to Watch Video:

https://www.facebook.com/share/v/16wrvXKfQK

Continue Reading

News

FG denies 12 Years Minimum Entry Age Into JSS1

Boriowo urged the public and education stakeholders to disregard any contrary claims.

Published

on

By

21 Views

The Federal Government has debunked a report claiming that the minimum age for admission into Junior Secondary School 1 (JSS1) has been raised to 12 years.

The Ministry of Education Director of Press, Folasade Boriowo, made this known via a statement issued on Friday, July 25, 2025.

Boriowo said the report was inaccurate, noting that it did not come from any official source and did not reflect government policy.Boriowo stated: “For the avoidance of doubt, the minimum age for admission into JSS1 remains 10 years.

“No child should complete primary education below the age of 10.”

Boriowo urged the public and education stakeholders to disregard any contrary claims.

Continue Reading

News

NGE Mandates Media Organizations to set up fact-check desks in the newsroom to Fight Fake News

During the workshop, the European Union Ambassador to Nigeria and ECOWAS, Mr Gautier Mignot and the NGE President, Mr. Eze Anaba, said that newsroom managers should acquire the skills and tools for fact-checking as a way to arrest fake news, misinformation and disinformation.

Published

on

By

33 Views

Editors under the Nigerian Guild of Editors (NGE) have resolved today to henceforth set up a fact-check desk in their various newsrooms as a measure to tackle fake news, misinformation and disinformation.

The decision was reached on the occasion of a one-day workshop organised by the European Union (EU) NGE in Lagos on Thursday.

The editors said that having a Fact-Check Desk would help media organisations verify news hints, with the view to publishing only accurate information.

Other key decisions taken at the end of the workshop include:

Media organizations should organise trainings for their newsroom managers and line editors on fact-checking.

The Guild should set up disinformation counter groups across its zonal structures, ahead of the 2027 general election.

Media organizations should collaborate and reach out to each other to verify information.

Media organisations should look at the quality of their Online Editors to ensure that experienced and well-grounded journalists man the position.

The Guild should use other of its bigger platforms to address issues bordering on fake news, misinformation and disinformation.

During the workshop, the European Union Ambassador to Nigeria and ECOWAS, Mr Gautier Mignot and the NGE President, Mr. Eze Anaba, said that newsroom managers should acquire the skills and tools for fact-checking as a way to arrest fake news, misinformation and disinformation.

Mignot said that the EU was taking a multi-pronged approach to address the threats posed by misleading information, which he described as a “danger to democracy and public trust.

Continue Reading

Trending