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
Alleged N2.2bn fraud: Ngige gets bail, trials continue on January 28
The EFCC alleges that Ngige used his ministerial position between 2015 and 2023 to award contracts unfairly, divert funds, and enrich himself and associates.
Former Minister of Labour and Employment, Chris Ngige, has been granted bail by the High Court of the Federal Capital Territory in Gwarimpa.
He faces eight counts of charges bordering on abuse of office, contract fraud, and acceptance of kickbacks from contractors linked to the Nigeria Social Insurance Trust Fund.
In Thursday’s ruling, Justice Maryam Hassan adopted the terms of the administrative bail earlier granted by the EFCC.
The court ordered Ngige to produce a surety who must be a serving Federal Government director.
The surety is required to deposit travel documents with the court registrar, as Ngige claims his passport was lost.
The surety must also present landed property with a valid certificate of occupancy within the Federal Capital Territory.
The EFCC alleges that Ngige used his ministerial position between 2015 and 2023 to award contracts unfairly, divert funds, and enrich himself and associates.
The trial is scheduled to commence on January 28, 2026.
News
BREAKING: Senate Confirms Former INEC Chairman Mahmood Yakubu, Reno Omokri, Femi Fani-Kayode, and Others as Ambassadors
#The Nigerian Senate has confirmed a list of high-profile non-career ambassadorial nominees submitted by President Bola Tinubu, including former Independent National Electoral Commission (INEC) Chairman Prof. Mahmood Yakubu, social media influencer and former presidential aide Reno Omokri, and ex-Minister of Aviation Chief Femi Fani-Kayode (FFK).
The confirmations followed screenings by the Senate Committee on Foreign Affairs, which cleared the nominees amid some procedural debates but ultimately recommended their approval.
Other prominent figures confirmed include former Minister of Interior Abdulrahman Dambazau, ex-governors Ifeanyi Ugwuanyi (Enugu) and Okezie Ikpeazu (Abia), and several former senators and political allies.
The approvals form part of a broader diplomatic restructuring by the Tinubu administration, with the nominees expected to be deployed to key missions abroad to strengthen Nigeria’s international relations.
Sources indicate that the list, which includes a mix of career and non-career diplomats totaling around 68, addresses long-standing vacancies in Nigeria’s foreign missions.
The nominations had sparked public debate earlier, with critics questioning the inclusion of politically controversial figures, while supporters highlighted their experience in public service and loyalty to national interests.
The confirmed ambassadors-designate will receive their specific postings after formal letters of credence from the president.
This development marks a significant step in revitalizing Nigeria’s diplomatic presence globally.
News
TVC News Appoints Babajide Kolade-Otitoju as News Director
Television Continental Communications (TVC) has announced the appointment of seasoned journalist Babajide Kolade-Otitoju as its new Director of News.
The appointment was revealed by the organisation’s Group Managing Director and Chief Executive Officer, Victoria Ajayi, during a town hall meeting at the station’s headquarters in Lagos.
Otitoju, who previously served as Director of Current Affairs at TVC, brings decades of experience in broadcast journalism to the role. He is widely recognised as a prominent figure on the station’s flagship daily socio-political programme, Journalists’ Hangout, where he offers incisive analysis on national issues.
In separate interviews, several TVC staff members praised the decision, describing it as “wise” and noting that Otitoju has “paid his dues” in transforming the station. They highlighted his earlier stint as Acting Director of News, during which TVC clinched the Best Station of the Year award for two consecutive years.
Staff expressed optimism that under Otitoju’s leadership, TVC is poised to reclaim its position as a pacesetter in Nigeria’s competitive broadcast industry.
A respected investigative journalist, historian, polemicist, and political analyst, Otitoju hails from Ekirin Adde in Ijumu Local Government Area of Kogi State. As Nigeria gears up for the 2027 general elections, his new role places him at the forefront of shaping the station’s coverage of critical national discourse.
The appointment has drawn congratulations from various quarters, underscoring Otitoju’s reputation as a towering figure in Nigerian media with over three decades of excellence.
Profile:
Babajide Kolade-Otitoju, a veteran Nigerian journalist and prominent anchor on TVC News’ flagship program *Journalists’ Hangout*, is widely regarded as an investigative journalist, political analyst, and security commentator. With over three decades in broadcast journalism, he has earned awards including Political Analyst of the Year and Security Analyst of the Year.
His work often involves on-the-ground reporting, in-depth analysis of national issues, and discussions on corruption, security, and governance.
While Otitoju is frequently described as a “fearless” and “investigative” figure—known for dissecting socio-political matters without prejudice—specific standalone exposés are less prominently documented in public sources compared to his daily commentary and panel discussions.
His investigations typically emerge through *Journalists’ Hangout* segments, personal insights from sources, and field visits. Here are some key examples drawn from his reported work:- **Accountant General of the Federation Fraud (2022)**:
During a *Journalists’ Hangout* discussion on the arrest of the Accountant General for alleged embezzlement, Otitoju revealed—based on a trusted EFCC source—that the stolen amount exceeded the reported N80 billion. This claim highlighted deeper probing into the scandal.-
**Fake NGO Allegations Against TVC**: In an earlier incident, Otitoju investigated threats from a purported NGO linked to Nigerian generals.
He verified that the organization’s address was nonexistent and described its operator as a “freelance miscreant,” preventing potential misinformation from affecting his station.- **Security and Counter-Terrorism Reporting**:
Otitoju has conducted field investigations in conflict zones, including visits to military fronts like Buni Yadi in Yobe State and areas affected by Boko Haram (e.g., Sambisa Forest references in public discourse). His analyses often cover banditry, kidnappings, and terrorism financing, such as allegations that ransom payments fund property acquisitions by criminals.-
**Refinery Operations and Infrastructure**: He has personally toured facilities like the Warri Refinery to verify operational status amid public skepticism, countering claims of shutdowns with on-site evidence. Similar fact-checking extends to projects like the Mambilla Dam, where he highlighted unfulfilled allocations despite surveys.-
**Police Funding and Governance Issues**: Otitoju disclosed details on police “imprest” allowances for Divisional Police Officers (DPOs) and critiqued funding gaps, noting contributions from states and private donors like Aliko Dangote.-
**Other Topical Probes**: Discussions have included electoral reforms (e.g., electronic transmission of results), bandit designation as terrorists, anchor borrowers’ loan discrepancies (attributing misuse to politicians via fake cooperatives), and high-profile cases like the JAMB result forgery saga.Otitoju’s style emphasizes balanced analysis, source-based revelations, and direct verification, often distinguishing him in debates on national controversies.
His promotion to Director of News at TVC in December 2025 reflects recognition of this track record in reshaping the station’s credibility.
-
News3 days agoSupreme Court rules Tinubu has the constitutional power to declare a state of emergency
-
Business3 days agoDangote appoints ex-CBN director Mahmud Hassan, as chief economist
-
Entertainment3 days agoCity FM 105.1 Unveils Plans for Praise in the City 2025
-
News2 days agoNews Commentary: Senator Godswill Akpabio ” Kpai in London”, Another Fake News
-
News23 hours agoBREAKING: NMDPRA boss, Farouk Ahmed resigns amid corruption allegations
-
News2 days agoAircraft crashes in Owerri with four persons onboard
-
News2 days agoTranscorp Hotels Plc Appoints Dr. Awele Elumelu as New Board Chair
-
Sports2 days ago2025 AFCON Group B Squads
