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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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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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Protesters storm Federal High Court Abuja over moves to deregister ADC, other opposition parties

In court filings before the Federal High Court, the AGF supported a case instituted by some former lawmakers asking the court to compel INEC to deregister the African Democratic Congress and four others.

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Protesters, under the aegis of Concerned Northern Nigeria Stakeholders, staged a protest on Monday at the entrance of the Federal High Courtin Wuse, Abuja, chanting solidarity songs and waving placards with inscriptions such as “No Opposition, No Election,” “Tinubu, Let Our Democracy Breathe,” and “AGF Must Be Neutral.”

The protesters are warning President Bola Tinubu against interferences in the judiciary and the Independent National Electoral Commission.

The leader of the group, Banki Sharrif, raised alarm over what he described as growing threats to judicial independence and democratic institutions, accusing the Federal Government of undermining due process.

He said, “We call on President Bola Ahmed Tinubu to immediately cease all forms of interference, overt or covert, with the judiciary. Courts must never be reduced to instruments of political engineering. The moment justice is manipulated, the nation itself is placed on trial.

“A government that seeks to weaken opposition betrays a lack of confidence in its own legitimacy. Democracy thrives on competition. Suppressing it is not strength; it is fear.

“Elections without credible opposition are nothing more than staged exercises. Democracy demands fairness, openness, and equal opportunity for all political actors.”

The demonstrators warned that democracy cannot function under “intimidation, coercion, or calculated manipulation,” insisting that civic space and opposition remain central to a functioning republic.

Monday’s protest comes amid heightened political tension over a suit backed by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, seeking the deregistration of several political parties.

In court filings before the Federal High Court, the AGF supported a case instituted by some former lawmakers asking the court to compel INEC to deregister the African Democratic Congress and four others.

Other parties listed in the suit include the Action Peoples Party, Action Alliance, Accord Party, and the Zenith Labour Party.

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S’Africa: FG hurrying to evacuate 130 Nigerians as another wave of protest expected

The minister added that another wave of demonstrations is expected between May 4 and 8, 2026, prompting further security and diplomatic coordination between both countries.

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•Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu

The Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, has confirmed that so far, 130 Nigerians have registered for voluntary evacuation flights from South Africa amid rising tensions linked to anti-foreigner protests in the country.

The minister added that another wave of demonstrations is expected between May 4 and 8, 2026, prompting further security and diplomatic coordination between both countries.

Bianca Odumegwu-Ojukwu, in a situation report via her X handle , said that the evacuation arrangement is part of broader diplomatic and security measures being coordinated with Nigerian missions in South Africa.

She emphasised that the

applicants have duly registered for the exercise with our mission,” noting that the number is expected to increase as more citizens seek assistance to return home.

The minister explained that the evacuation plan follows directives from President Bola Tinubu, who ordered heightened monitoring of the situation and stronger protection for Nigerians abroad.

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Nigerians to return home as S’African attacks worsen

The protests, according to reports, are being driven by community groups, anti-immigration organisations, and social movements such as Operation Dudula, the March and March Movement, and similar local initiatives, often under the banner of tackling illegal immigration and unemployment.

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The Nigerian Consulate in collaboration with the Nigerian Citizens Association in South Africa (NICASA) has offered a free repatriation flight to Nigerians willing to return home permanently amid the ongoing worsening attacks on foreigners.

The President of NICASA, Frank Onyekwelu, disclosed that the situation had forced many Nigerians to shut their shops and businesses.

According to him, there is currently no structured support system in place for affected Nigerians, but the consulate’s intervention is already providing an option for those who wish to leave.

” The process is ongoing as we have recorded many Nigerians signalling interest to return home, ” said Onyekwelu .

Violent anti-foreigner protests erupted recently in cities such as Pretoria, Johannesburg, Durban, East London, and parts of KwaZulu-Natal, resulting in harassment, looting, property damage, and injuries.

The protests, according to reports, are being driven by community groups, anti-immigration organisations, and social movements such as Operation Dudula, the March and March Movement, and similar local initiatives, often under the banner of tackling illegal immigration and unemployment.

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