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Top Seven States In Nigeria with Highest Inflation

The persistent rise was primarily driven by steep increases in food and transportation costs following the removal of fuel subsidies and continued naira depreciation, compounded by insecurity and flooding in the agricultural belt of the nation.

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The National Bureau of Statistics (nbs) says that food inflation on a Year-on-Year basis was highest in Sokoto (52.18%), Edo (46.55%), Borno (45.85%).

The nbs disclosed this in its October 2024 Consumer Price Index (CPI), released today on its website. In the state by state comparison, the inflation rate in Bauchi was 46.68%, Kebbi 40.02% ; Kwara (31.68%), Kogi (33.30%), and Rivers (33.87%).

The persistent rise was primarily driven by steep increases in food and transportation costs following the removal of fuel subsidies and continued naira depreciation, compounded by insecurity and flooding in the agricultural belt of the nation.

Said the report: ” In October 2024, the Headline inflation rate was 33.88% relative to the September 2024 headline inflation rate of 32.70%.

Looking at the movement, the October 2024 Headline inflation rate increased by 1.18% points compared to the September 2024 Headline inflation rate. On a year-on-year basis, the Headline inflation rate was 6.55% points higher than the rate recorded in October 2023 (27.33%).

This shows that the Headline inflation rate (year-on-year basis) increased in October 2024 when compared to the same month in the preceding year (i.e., October 2023).

Furthermore, on a month-on-month basis, the Headline inflation rate in October 2024 was 2.64%, which was 0.12% higher than the rate recorded in September 2024 (2.52%).

This means that in October 2024, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2024. 

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JUST IN: President Tinubu departs Lagos for Abuja after Sallah break

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President Bola Ahmed Tinubu has departed Lagos for Abuja today, after a two-week break in the nation’s economic centre where he celebrated Eid al-Adha.

Tinubu was accompanied to the Murtala Mohammed International Airport by Lagos State Governor Babajide Sanwo-Olu and other government officials.

The president had during his stay received a retinue of top dignitaries in his residence and commissioned some projects among other activities.

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BREAKING: President Tinubu’s ally and APC chieftain, Jesutega Onokpasa is dead

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A prominent chieftain of the All Progressives Congress (APC) in Delta State, Jesutega Onokpasa, is dead.

His death was announced on X formerly Twitter on Tuesday afternoon by another APC chieftain, Pastor Okezie Atani.

Onokpasa was a staunch ally of President Bola Tinubu and was actively involved in the 2023 presidential campaign as part of the APC’s Presidential Campaign Council.

He became widely recognized for his strong support of President Bola Tinubu, regularly defending the government’s policies during media appearances.

However recently, Onokpasa changed his position and withdrew his support, saying he would not back Tinubu for the 2027 elections.

He pointed to rising insecurity, economic problems, and what he believed was the President’s neglect of long-time supporters as reasons for his decision to pull back from active support.

Though no official report has confirmed the cause of his death, some people close to him said that he had been dealing with health issues for a while.

Tributes have been pouring in online since the news broke, as many recall his active role in politics and media discussions.

He is survived by his wife and children.

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Falana Warns Sealing Embassies Over Ground Rent is Diplomatically Dangerous

“As far as the Vienna Convention on Diplomatic Relations is concerned, the premises of any embassy in Abuja are inviolable,” he said.

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*Human Rights lawyer, Femi Fala

Senior Advocate of Nigeria, Femi Falana, has faulted the Federal Capital Territory Administration (FCTA) over threats to seal embassies and other properties in Abuja over unpaid ground rent.

He described the move as illegal and diplomatically dangerous.

Falana, during an appearance on Channels, said that any attempt to close embassies violates the Vienna Convention on Diplomatic Relations, which guarantees the inviolability of diplomatic premises.

“As far as the Vienna Convention on Diplomatic Relations is concerned, the premises of any embassy in Abuja are inviolable,” he said.

“By virtue of Article 22 of that convention, the premises of an embassy, their furnishings, and even their vehicles shall be immune from such requisition, attachment, or execution. No court of law can order that execution be levied on any embassy.”

The human rights lawyer said Nigeria, as a signatory to the Convention, must not violate international law, stressing that any such action by the FCTA could result in serious diplomatic consequences.

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