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
Senate demands sack of CAC boss, over defiance of summons
…The CAC head had never personally appeared before the committee, often citing official engagements or foreign trips as reasons for his absence.
The Senate Committee on Finance on Thursday called on President Bola Tinubu to sack Hussaini Magaji, the Registrar-General of the Corporate Affairs Commission (CAC), over what the lawmakers described as his persistent refusal to honour invitations to appear before the panel.
The committee made the recommendation citing Magaji’s repeated absence from its sessions, where he was expected to provide explanations on the commission’s revenue profile and operational performance since he took over the office.
The lawmakers noted that despite several summons, the CAC boss has consistently failed to show up in person.
Sani Musa, the Committee Chairman, announced the resolution during a budget defence session attended by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, and Atiku Bagudu, the Minister of Budget and Economic Planning, who appeared before the panel to present their proposals for the 2026 fiscal year.
Other chief executives under the committee’s supervision, including representatives of the Nigeria Revenue Service, the Tax Ombudsman Office, the Nigerian Customs Service and the Office of the Attorney-General of the Federation were present at the hearing.
However, the CAC Registrar-General did not attend and instead delegated a subordinate officer to represent the commission.
The recommendation for Magaji’s removal was moved by Orji Kalu, representing Abia North.
The former Abia State governor expressed frustration over what he described as the registrar-general’s consistent disregard for the committee’s invitations.
Kalu argued that if cabinet ministers, who occupy higher constitutional offices, could respond to legislative summons, there was no justification for the CAC chief to repeatedly decline appearances.
“This man is not above the law,” Kalu said during the session.
“The ministers of finance and budget are here because we invited them. Yet this registrar-general believes he is bigger than the Senate. That cannot continue.”
He further said that since his return to the Senate, the CAC head had never personally appeared before the committee, often citing official engagements or foreign trips as reasons for his absence.
News
Oluremi Tinubu Bags Warri Traditional Title ‘Utukpa-Oritse of Warri Kingdom’
The First Lady of Nigeria Senator Oluremi Tinubu whose mother hails from Warri in Delta State was conferred with the traditional title of Utukpa-Oritse of Warri Kingdom alias Ugbone meaning the Light of God.
Nigeria’s First Lady, Senator Oluremi Tinubu has been conferred with the title, Utukpa-Oritse of Warri Kingdom, by Olu of Warri Ogiame Atunwatse III.
Busola Kukoyi, SSA Media to the First Lady of the Federal Republic of Nigeria, said that the title was conferred on the First Lady during her homecoming to Warri Kingdom in Delta State where she was received by the paramount ruler of the Kingdom, Olu of Warri Ogiame Atunwatse III.
“The Olu of Warri, Ogiame Atunwatse III in his remarks urged everyone that by doing away with past hurts and grievances, there would be peace, progress and prosperity.
The monarch stated that the entire kingdom is proud of the First Lady of Nigeria.
He said:
“We are proud of who you are, who you have become.
Our women know how to take very good care of their husbands. Thank you for being a very good example to our girls and women”.
The First Lady of Nigeria Senator Oluremi Tinubu whose mother hails from Warri in Delta State was conferred with the traditional title of Utukpa-Oritse of Warri Kingdom alias Ugbone meaning the Light of God.

In Picture: L-R Former Governor of Delta State, Dr Ifeanyi Okowa, First Lady of Delta State Deaconess Tobore Oborevwori, the Olu of Warri Kingdom, Ogiame Atunwatse III, First Lady of Nigeria Senator Oluremi Tinubu and the Delta State Governor, Rt Hon Sheriff Oborevwori during Senator Tinubu’s conferment with the title,Utukpa-Oritse of Warri Kingdom by the Olu of Warri Kingdom on Thursday 26th February 2026.
In her remarks, Senator Oluremi Tinubu called for more unity across the nation among citizens
The First Lady specifically appealed to the people of the kingdom to come together, irrespective of their differences.“the bible tells us in Psalm 133 verse 1 to 3 that it is pleasant to dwell together in unity, for there is where God commanded blessings”.
She assured the people who turned out in their numbers of continued support and commitment of government, noting that the state governor had been doing a good job so far in the State.
Senator Oluremi Tinubu once again, on behalf of the Renewed Hope Initiative RHI donated a sum of fifty million naira to 1000 women petty traders.
Earlier, the State Governor Rt Hon Sheriff Oborevwori explained that the First Lady who had visited the state three times, and twice when he was still in another political party and now when he had crossed over to APC, had shown tremendous love and sincerity in the care of Nigerians by this.“
She has a large heart and those visits where she flagged off the women petty traders empowerment and the launch of the free to shine campaign encouraged me to make up my mind.
May God continue to empower you to continue to put smiles on the faces of more Nigerians.”
News
NUC issues new rules on honorary doctorates
The guidelines limit honorary awards to a maximum of three recipients per convocation and require that the degrees carry the designation “Honoris Causa,” such as Doctor of Science (D.Sc. h.c.) or Doctor of Law (LL.D. h.c.).
The National Universities Commission (NUC) on Thursday, released fresh guidelines regulating the award and use of honorary doctorate degrees in Nigeria.
Honorary doctorate degrees are non-earned distinctions granted honoris causa to recognise distinguished merit, public service, scholarly impact, creative achievement or other significant contributions aligned with the values of the awarding institution.
In a public notice shared on its official X page, the Commission found widespread misuse of honorary degrees, with 32 entities among 61 institutions and professional bodies identified as operating as honorary degree mills — including unaccredited foreign universities, unlicensed local institutions and organisations without degree-awarding powers. Some were also found issuing fake professorships.
Consequently, the Executive Secretary of the Commission, Abdullahi Yusufu Ribadu, said that the new guidelines were developed in line with established academic traditions and resolutions of the Association of Vice-Chancellors of Nigerian Universities, including the Keffi Declaration of 2012, alongside inputs from universities submitted in December 2025.
NUC said that the new rules are designed to standardise the conferment process, protect academic integrity and safeguard the credibility and global reputation of Nigeria’s university system. Universities and other degree-awarding institutions were directed to strictly comply, with sanctions promised for violations.
Under the new rules, only approved universities that have graduated their first set of PhD students are eligible to award honorary doctorates. The purpose, criteria and selection procedures must be clearly defined and publicly accessible, while nominations must pass through statutory committees and receive approval from both the University Senate and Governing Council.
The guidelines limit honorary awards to a maximum of three recipients per convocation and require that the degrees carry the designation “Honoris Causa,” such as Doctor of Science (D.Sc. h.c.) or Doctor of Law (LL.D. h.c.).
Awards must be conferred in person, except in exceptional circumstances where they may be given virtually, in absentia or posthumously.
The Commission stressed that honorary doctorates must be granted free of charge and recipients must not present the honour as an earned academic qualification.
NUC specifically warned that recipients cannot use the “Dr.” — which is reserved for holders of earned doctoral or medical degrees — nor use the award to supervise research, practise as scholars or manage academic units.
Universities are also required to provide recipients with orientation on the proper use of the honour, publish lists of awardees on their websites to promote transparency and establish clear mechanisms for revoking awards if recipients are convicted of fraud or engage in unethical conduct.
The NUC said all eligible universities must comply strictly with the framework, reiterating that regulatory sanctions will apply to institutions that confer honorary doctorates in breach of the new guidelines.
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