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
JUST IN: El-Rufai Leaves State High Court for Federal High Court in Kaduna
Former Kaduna State Governor, Nasir El-Rufai, has concluded proceedings at the State High Court in Kaduna and is now proceeding to the Federal High Court for the continuation of another suit.
El-Rufai, who was earlier present at the State High Court for the continuation of his trial, left the premises after the sitting ended.
He is expected to appear before the Federal High Court in Kaduna for further proceedings related to another case.
Security presence remained visible around both court premises as proceedings attracted attention from observers and supporters.
Details of the proceedings at the Federal High Court are expected to emerge as the matter continues.
News
El-Rufai Appear in State High Court, after Mother’s death, as Trial Continues
The former Kaduna State Governor, Nasiru El-Rufai, on Tuesday morning arrived at the Kaduna State High Court for the trial, and there after he is expected to proceed to the Federal High Courtfor continuation of his proceedings.
The former governor arrived at the Kaduna State High Court amid tight security presence, as legal teams from both sides prepare to continue hearing in the matter. El-Rufai is also scheduled to appear before the Federal High Court for continuation of related legal processes.
The case continues to attract significant public attention, with observers closely monitoring developments across both courts.
Details of the matters to be addressed in both courts have not been fully disclosed, but outcomes from the hearings are expected to influence the direction of the trial.
News
Nigeria Welcomes African Games Bid Evaluation Committee
Nigeria officially welcomed the African Games Bid Evaluation Committee on Monday, marking a significant step in the nation’s quest to host the 2031 African Games.
The delegation, led by Dr. Decius Chipande, was received by top officials of the National Sports Commission (NSC) and treated to a comprehensive and compelling presentation showcasing Nigeria’s readiness, capacity, and vision to host a memorable Games.
Chairman of the NSC, Mallam Shehu Dikko, in his remarks, reaffirmed the solid support of the Federal Government for the bid.
He emphasized that hosting the African Games remains a national priority, backed by strong political will and a commitment to deliver world-class infrastructure, seamless organization, and a lasting legacy for African sports.
Director General of the Commission, Hon. Bukola Olopade, presented Nigeria’s strategic sponsorship and marketing framework, outlining innovative approaches to funding and commercial partnerships.
He noted that Nigeria’s large market, vibrant sports culture, and growing private sector interest provide a solid foundation for a financially successful Games.
Providing further depth to the bid, ace broadcaster and Bid Coordinator, Mainasara Ilo, delivered an engaging presentation on legacy, highlighting how the Games would catalyze youth development, infrastructure expansion, and community impact across the country.
On the technical front, former Director of Medicine at the Commission, Dr. Paul Onyedo, detailed Nigeria’s preparedness in sports medicine and its scientific approach to anti-doping, testing, and athlete health management, aligning with international best practices.
In addition, Dr. Emmanuel Igbinosa presented the country’s comprehensive welfare framework, assuring the Committee of Nigeria’s readiness to provide a safe, secure, and athlete-centered environment throughout the Games.
The Evaluation Committee commended Nigeria’s presentation, noting the clarity of vision, depth of planning, and strong alignment between government and private sector stakeholders.
The Committee commenced inspection of key facilities on Monday, with further assessments on Tuesday.
Nigeria remains confident that its compelling bid, backed by experience, infrastructure, and national commitment, positions the country strongly to host a historic and impactful African Games.
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