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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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1 year ago

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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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Tinubu Assigns Jimoh Ibrahim to UN, Omokri to Mexico, Fani-Kayode to Germany, Yakubu to Qatar

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2 hours ago

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March 6, 2026

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President Bola Ahmed Tinubu has approved the postings of 31 career and 34 non-career ambassadors to various countries and the United Nations.

The Senate confirmed the ambassadors-designate last December.

POSTINGS OF NON-CAREER AMBASSADORS / HIGH COMMISSIONERS

S/N NAME MISSION APPROVED

1. SENATOR GRACE BENT: LOME-TOGO

2. SEN. ITA ENANG: SOUTH AFRICA

3. IKPEAZU VICTOR: SPAIN

4. NKECHI LINDA UFOCHUKWU: TEL-AVIV, ISRAEL

5. MAHMUD YAKUBU: QATAR

6. PAUL OGA ADIKWU: THE VATICAN CITY HOLY SEE

7. VICE ADMIRAL IBOK-ETE EKWE IBAS: THE PHILIPPINES

8. MR. RENO OMOKRI: MEXICO CITY, MEXICO

9. HON. (ENGR.) ABASI BRAIMAH (FMHR): BUDAPEST, HUNGARY

10. MRS. ERELU ANGELA ADEBAYO: PORTUGAL

11. BARR. OLUMILUA OLUWAYIMIKA AYOTUNWA: TOKYO, JAPAN

12. RT. HON. UGWUANYI IFEANYI LAWRENCE: ATHENS, GREECE

13. BARR. CHIOMA PRISCILLA OHAKIM: WARSAW, POLAND

14. AMINU DALHATU: UNITED KINGDOM, UK

15. LT. GEN ABDULRAHMAN BELLO DAMBAZAU: BEIJING, CHINA

16. HON. TASIU MUSA MAIGARI: GAMBIA

17. OLUFEMI PEDRO: AUSTRALIA

18. BARR. MUHAMMED UBANDOMA ALIYU: ARGENTINA

19. LATEEF KAYODE ARE: USA

20. AMB. JOSEPH SOLA IJI: RUSSIA

21. SEN. JIMOH IBRAHIM: UN PERMANENT REPRESENTATIVE

22. FEMI FANI KAYODE: GERMANY

23. PROF. ISAAK FOLORUNSO ADEWOLE: OTTAWA, CANADA

24. AJIMOBI FATIMA FLORENCE (F): AUSTRIA

25. MRS. LOLA AKANDE (F): SWEDEN

26. AYODELE OKE: FRANCE

27. YAKUBU N. GAMBO: SAUDI ARABIA

28. SENATOR PROF. NORA LADI DADUUT: SEOUL, SOUTH KOREA

29. BARR. ONUEZE CHUKWUJIKA JOE OKOCHA SAN: DUBLIN

30. DR. KULU HARUNA ABUBAKAR: TUNIS, TUNISIA

31. RT. HON. JERRY SAMUEL MANWE: PORT OF SPAIN.

T&T POSTINGS OF CAREER AMBASSADORS / HIGH COMMISSIONERS LIST

S/N NAME MISSION APPROVED

1. AMB. NWABIOLA EZENWA CHUKWUMEKA: COTE D’IV/OIRE

2. BESTO MAIMUNA IBRAHIM: NIAMEY-NIGER

3. MONICA OKWUCHUKWU ENEBECHI: SAO TOME, STP

4. AMB. MOHAMMED MAHMUD LELE: ALGIERS-ALGERIA

5. ENDONI SYNDOPH PAEBI: OUAGADOUGOU-BURKINA FASO

6. AHMED MOHAMMED MONGUNO: CAIRO EGYPT

7. AMB.JANE ADAMS (NEE OKON) MICHAEL (F): KINGSTON-JAMAICA

8. AMB. CLARK-OMERU ALEXANDRA (F): LUSAKA-ZAMBIA

9. CHIMA GEOGGREY LIOMA DAVID: BAMAKO-MALI

10. AMB. ODUMAH YVONNE EHINOSEN: MALABO –E/GUINEA

11. AMB WASA SEGUN IGE: BEIRUT, LEBANON

12. RUBEN ABIMBOLA SAMUEL (F): ROME, ITALY

13. AMB.ONAGA OGECHUKWU KINGSLEY: MAPUTO, MOZAMBIQUE

14. AMB.MAGAJI UMAR: KINSASHA, DR CONGO

15. AMB.MUHAMMAD SAIDU DAHIRU: NEW DELHI-INDIA

16. AMB. ABDUSSALAM HABU ZAYYAD: DAKAR-SENEGAL

17. AMB SHEHU ILU BARDE: ACCRA GHANA

18. AMB.AMINU NASIR: ETHIOPIA

19. ABUBAKAR MUSA MUSA: N’DJAMENA, CHAD

20. AMB. HAIDARA MOHAMMED IDRIS: THE HAGUE-NETHERLANDS

21. AMB.BAKO ADAMU UMAR: RABAT-MOROCCO

22. AMB. SULU GAMBARI OLATUNJI AHMED: MALAYSIA

23. AMB.ROMATA MOHAMMED OMOBOLANLE (F): TANZANIA

24. AMB. SHAGA JOHN SHAMAH: BOTSWANA

25. SALAU, HAMZA MOHAMMED: TEHRAN, IRAN

26. AMB.IBRAHIM DANLAMI: KENYA

27. IBRAHIM ADEOLA MOPELOLA (F): COTONOU-BENIN

28. AMB.AYENI ADEBAYO EMMANUEL: BRUSSELS, BELGIUM

29. AMB.AKANDE WAHAB ADEKOLA: BERNE-SWITZERLAND

30. AMB. AREWA (NEE ADEDOKUN) ESTHER (F): WINDHOEK-NAMIBIA

31. AMB.GERGADI JOSEPH JOHN: LIBREVILLE-GABON

32. AMB. LUTHER OGBOMODE AYO-KALATA (F): SIERRA LEONE

33. DANLADI YAKUBU NYAKU : KHARTOUM-SUDAN

34. BELLO DOGON-DAJI HALIRU: BANGKOK, THAILAND

The Ministry of Foreign Affairs has already received agrément from the United Kingdom for the High Commissioner-designate, Ambassador Aminu Dalhatu. Similarly, France has sent the agrément for Ambassador Ayo Oke.

The Ministry has also conveyed the nominations of the other 62 designated envoys to all the countries concerned, including a request for their agreements in line with standard diplomatic practice.

President Tinubu has directed that the Ministry of Foreign Affairs should immediately commence the induction programme for the ambassadors-designate and High Commissioners.

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Political Thugs Set Rivers ADC Office On Fire

Ubima is the country home of the former Minister of Transportation, Chibuike Amaechi.

Published

4 hours ago

on

March 6, 2026

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Suspected political thugs have set ablaze the office of the African Democratic Party (ADC) at Ubima Community, Ikwerre Local Government Area of Rivers State.

Ubima is the country home of the former Minister of Transportation, Chibuike Amaechi.

The political thugs also attacked the Minister’s Community with heavy firepower, shooting sporadically in the area.

Amaechi,a two times governor of Rivers state between 2007 to 2015 is one of the leaders of the ADC, the political party seeking to unseat President Bola Ahmed Tinubu in 2027.

Meanwhile, Amaechi is expected to visit Ubima , Friday, to officially register with the ADC at the ward level.

The thugs reportedly invaded the community, Thursday night, shooting heavily and setting the party Secretariat on fire.

Locals say the thugs may have caused the panic in the community to scare people from coming out to welcome the former governor of the state who is visiting the party office in his ward for official registration with the ADC.

They reportedly reappeared Friday morning mounting Road block on the Omuawa-Ubima toad stopping every bus with ADC banner from entering the community.

Meanwhile,intervention from security operatives mobilised to the area is said to have restored normalcy.

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EFCC says 100 senior lawyers on trial for alleged financial crimes

Olukoyede, a lawyer, added that investigations uncovered offences ranging from the diversion of clients’ funds to aiding money laundering.

Published

5 hours ago

on

March 6, 2026

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14 Views

Photo: EFCC Chairman , Ola Olukoyede

The Economic and Financial Crimes Commission (EFCC) Chairman Ola Olukoyede, says that the Commission is investigating 100 senior lawyers for corruption-related offences.

In an address in Abuja during the second annual lecture of the Body of Benchers, the EFCC chairman expressed concern over the growing involvement of lawyers in financial crimes.

He noted that the anti-graft agency had received multiple petitions against members of the profession.

“We have had calls to investigate quite a number of senior members of the Bar,” he said.

Olukoyede, a lawyer, added that investigations uncovered offences ranging from the diversion of clients’ funds to aiding money laundering.

“Before I came here, I checked our database and discovered that we have about 100 senior members of the Bar that we are prosecuting at the moment for those offences.

“It has become very necessary for us to work together,” he said.

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