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
President Tinubu at 74, Donates Salaries to Armed Forces Welfare Fund
As a personal commitment, the President has pledged to contribute all his salaries since assuming office as seed funding for the initiative, reinforcing his resolve to ensure that those who have borne the cost of Nigeria’s peace and security are not forgotten.
President Bola Ahmed Tinubu has announced the establishment of a dedicated support fund for members of Nigeria’s Armed Forces, those wounded in the line of duty, and the families of fallen heroes.
The President announced the initiative on Sunday, using the commemoration of his 74th birthday, to honour the courage, sacrifice, and service of the nation’s military personnel.
In a statement , Bayo Onanuga the Special Adviser to the President Information and Strategy, said that President Tinubu has directed the Accountant-General of the Federation to establish a special account for the fund, which will provide targeted support to injured service members, as well as to widows, widowers, and children of those who lost their lives in service to the country.
As a personal commitment, the President has pledged to contribute all his salaries since assuming office as seed funding for the initiative, reinforcing his resolve to ensure that those who have borne the cost of Nigeria’s peace and security are not forgotten.
The President called on State Governors, members of the National Assembly, the private sector, his friends, and well-wishers to support the initiative, noting that details of the fund will be made available in due course.
President Tinubu emphasised that the initiative is rooted in a solemn national obligation to care for those who stand in harm’s way and the families who carry the burden of their sacrifice, irrespective of insurance programmes available to members of the armed forces.
President Tinubu also stated that supporting members of the Armed Forces and their families is not an act of charity, but a duty that all must fulfil.
The President reaffirmed his administration’s commitment to strengthening the welfare of military personnel and ensuring that their service to the nation is matched with dignity, care, and sustained support.”
News
El-Rufai’ loses mother, Hajiya Umma
She died at a time El-Rufai remains in custody following his arraignment by the Independent Corrupt Practices and Other Related Offences Commission on a 10-count charge bordering on alleged conversion of public property and money laundering.
Hajiya Umma El-Rufai, the mother of detained former Kaduna State Governor Malam Nasir El-Rufai, is dead
Her grandson, Hon. Bello El-Rufai, confirmed the development on Friday in a Facebook post:
“Inna lillahi wa inna ilayhi raji’un. I would like to inform the public of the demise of my Grandmother, Hajiya Umma El-Rufai who passed away a few hours ago. She is the biological mother of our father, Mallam Nasir El-Rufai.
We are grateful for the life she lived and may Allah SWT bless her gentle soul. On behalf of our family, we seek your prayers.”
She died at a time El-Rufai remains in custody following his arraignment by the Independent Corrupt Practices and Other Related Offences Commission on a 10-count charge bordering on alleged conversion of public property and money laundering.
News
Kano Deputy Governor Resigns
The decision to step down does not amount to an admission of the allegations leveled against him by the Kano State House of Assembly.
The Deputy Governor of Kano State, Aminu Abdusalam Gwarzo, has resigned from office ahead an ongoing impeachment process by the State House of Assembly.
Spokesperson for Kwankwasiyya Movement , Habibu Mohammed, confirmed the resignation in a statement on Friday, stating that the decision was taken in the overall interest of the people and to ensure stability in the state’s governance.
The Assembly had earlier issued an impeachment notice to the deputy governor over allegations of misappropriation and gave him a two-week ultimatum to respond. The deadline elapsed penultimate Friday,
The statement explained that recent developments had significantly limited the deputy governor’s ability to fully discharge the responsibilities of his office, making it necessary for the position to function without constraints in the public interest.
It, however, clarified that the decision to step down does not amount to an admission of the allegations leveled against him by the Kano State House of Assembly.
The embattled deputy governor who is a strong ally of Rabiu Kwankwaso refused to follow the governor to join the APC.
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