Connect with us

News

Nigeria’s inflation rate drops to 18.12%

Published

on

 

Nigeria’s rate of inflation dropped to 18.12 percent in April 2021, the National Bureau of Statistics (NBS) said on Monday

It was 18.17 per cent in March, shedding 0.05 per cent to close at 18.12 in April.

The NBS said: “The Consumer Price Index, which measures inflation increased by 18.12 per cent (year-on-year) in April 2021.

“This is 0.05 per cent points lower than the rate recorded in March 2021 (18.17 per cent).”

The 0.05 per cent drop in April 2021 was the first time Nigeria’s inflation rate would fall in about 20 months as the last time it fell was in 2019 when the CPI shed 0.06 per cent, falling from 11.08 per cent in July to 11.02 in August.

In its April 2021 inflation report, the NBS stated increases were recorded in all Classification of Individual Consumption by Purpose divisions that yielded the headline index.

See also  JUST IN: INEC shifts guber election to March 18

Read Also: Rising food prices, inflation portend danger for economy
On month-on-month basis, the headline index increased by 0.97 per cent in April 2021, this was 0.59 percl cent rate lower than the rate recorded in March 2021 (1.56 per cent).

The percentage change in the average composite CPI for the 12 months period ending April 2021 over the average of the CPI for the previous 12 months period was 15.04 per cent, showing 0.48 per cent point from 14.55 per cent recorded in March 2021.

The urban inflation rate increased by 18.68 per cent year-on-year in April 2021 from 18.76 per cent recorded in March 2021, while the rural inflation rate increased by 17.57 per cent in April 2021 from 17.60 per cent in March 2021.

On a month-on-month basis, the urban index rose by 0.99 per cent in April 2021, down by 0.61 the rate recorded in March 2021 (1.60 per cent).

See also  Good morning! Here Are Some Major News Headlines In Nigerian Newspapers Today: Direct payment of allocation to councils begins next month

The rural index also rose by 0.95 per cent in April 2021, down by 0.57 the rate that was recorded in March 2021(1.52 per cent).

The corresponding 12 month year-on-year average percentage change for the urban index was 15.63 per cent in April 2021.

This was higher than 15.15 per cent reported in March 2021, while the corresponding rural inflation rate in April 2021 was 14.48 per cent compared to 13.99 per cent recorded in March 2021.

 

News

Good morning! Nigerian Newspapers Headlines: 2027: S’West ADC leaders revolt against Atiku

Published

on

By

1. Many leaders of the African Democratic Congress in the South-West have expressed dissatisfaction with what they described as the marginalisation of the party’s structure in the region by the ADC presidential candidate, Atiku Abubakar, ahead of the 2027 presidential election.

The ADC leaders, including some state chairmen and governorship candidates, alleged that Atiku had been conducting his political activities in the region through his friends and allies, while leaving the party structure sidelined as presidential campaign activities prepared to gather momentum.

2. A United States federal court has rejected an attempt to obtain discovery from President Bola Ahmed Tinubu and DCI Group in an ongoing Freedom of Information Act (FOIA) lawsuit involving the Federal Bureau of Investigation (FBI) and the Drug Enforcement Administration (DEA). 

3. The Zamfara State Commissioner of Police, CP Muhammad Bello, has confirmed the “rescue of three of the six Islamic clerics kidnapped on September 12 while travelling to Talata Mafara, Zamfara State.” Bello gave the confirmation in an interview with select reporters in Gusau. He said the rescue followed a multi-agency collaboration and seamless synergy between the Office of the National Security Adviser, ONSA, the Department of State Services, DSS, and police operatives.

See also  OPEC: Nigeria now second largest producer in Africa as oil output rises to 1.18m bpd

4. The Grand Patron of the PBAT Door-to-Door Movement, Chief Government Ekpemupolo, popularly known as Tompolo, Osun State Governor, Ademola Adeleke, and the Minister of Marine and Blue Economy, Adegboyega Oyetola, have set a target of at least 1.5 million votes for President Bola Tinubu in the 2027 presidential election. According to a statement, the target was announced on Saturday in Osogbo during the inauguration of the movement’s state and local government structures.

5. Nigerians lose no less than N75bn annually to visa application expenses across foreign missions, with rejected Schengen visa applications alone accounting for an estimated €11.5m, equivalent to about N19bn in 2025.
This is according to a visa-cost analysis report obtained by Sunday PUNCH from the Ministry of Foreign Affairs

6. With one accord, the governors of Enugu, Imo, Ebonyi, and Anambra States yesterday urged the people of the Southeast to avoid political distractions, and vote massively for President Bola Tinubu in next year’s presidential election. Governors Peter Mbah, Hope Uzodimma, Francis Nwifuru and Charles Soludo, said it was necessary for the zone to support Tinubu’s re-election bid to enable him consolidate the gains of his administration’s economic reforms

See also  Independence Annivesary: We want Nigeria to rise again, says Kumuyi

7. Former Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, has said Nigeria’s security challenges predate the administration of President Bola Tinubu, noting that terrorism, insurgency and banditry had been entrenched in the country before 2023 when Tinubu assumed office. He said the country’s security problems were rooted in years of porous borders, illegal arms proliferation, youth unemployment and the spread of extremist ideologies.

8. Minister of the Federal Capital Territory, FCT, Mr Nyesom Wike has directed supporters of President Bola Tinubu to deliver their polling unit in the forthcoming 2027 general elections. Addressing the supporters, Wike framed the upcoming general elections as a critical opportunity for residents of the nation’s capital to rectify past electoral missteps and unite under a strategic development banner.

9. The Independent National Electoral Commission, INEC, has removed the name of the Kano State governorship candidate of the National Democratic Congress, NDC, Aminu Abdussalam Gwarzo, from its updated list of candidates for the 2027 general elections. A check on the commission’s website shows that the names of Gwarzo and his deputy were conspicuously missing from the updated list.

See also  Police rescue traveller, arrest kidnapper after gun duel on Lagos-Ibadan expressway

10. Four young men have been arrested by the Bauchi State Police Command for allegedly abducting and gang-raping a 12-year-old girl in Sakwa District, Zaki Local Government Area of the state. The suspects were arrested following a complaint by the victim’s 50-year-old father, who reported the incident at the Sakwa Divisional Police Headquarters on Thursday.

Continue Reading

News

Wale Tinubu, Rabiu, others Join President Tinubu in Makkah for Umrah

Published

on

By

The Group Chief Executive Oando Plc, Jubril Adewale Tinubu; Chairman of BUA Group, Abdul Samad Rabiu, and several other Nigerian business mogul have joined President Bola Ahmed Tinubu in Makkah, Saudi Arabia, for the performance of Umrah, the lesser Islamic pilgrimage.

The presence of the prominent Nigerian business leaders alongside the President in the holy city has drawn attention, bringing together three influential figures from Nigeria’s political and business communities in a moment of religious observance.

Tinubu and Rabiu, both prominent names in Nigeria’s corporate landscape, were seen alongside the President dressed in the traditional white Ihram garments worn by Muslim pilgrims performing Umrah.

Umrah, unlike the obligatory Hajj pilgrimage, can be undertaken at any time of the year. It involves a series of religious rites in Makkah and holds profound spiritual significance for Muslims across the world.

For the Nigerian business community, the appearance of the corporate leaders alongside the President also offers a glimpse into the intersection of faith, business and public life, particularly when influential figures come together outside the usual settings of boardrooms, corporate engagements and official functions.

See also  OPEC: Nigeria now second largest producer in Africa as oil output rises to 1.18m bpd

The development comes as President Tinubu undertook the pilgrimage to seek divine guidance and offer prayers for Nigeria’s peace, unity, stability and progress.

According to the Presidency, the President performed the Umrah rites early Friday, October 30, at the Grand Mosque, Masjid al-Haram, where he circumambulated the Holy Ka’abah.

Speaking after completing the spiritual exercise, Tinubu described the pilgrimage as significant, linking it to his commitment to Nigeria and its people. He also expressed gratitude to Allah for the opportunity to pray for the country.

The President’s prayers reportedly centre on national harmony, security, economic prosperity and the need for Nigerians to live together peacefully.

Rabiu also used the occasion to express his hopes for the country, describing it as an honour to accompany the President on the spiritual journey. He prayed for lasting peace, unity and prosperity in Nigeria.

For Tinubu, whose Oando Group occupies a prominent position in Nigeria’s energy industry, the journey offered a departure from the familiar world of corporate leadership and business engagements. Rabiu, similarly, is a major player in the country’s industrial sector, with interests spanning manufacturing, cement and food production.

See also  Prince Harry, Meghan round off Nigeria tour with visit to Lagos

Their appearance in Makkah alongside the President underscores the presence of leading figures from Nigeria’s private sector at an important spiritual moment for the country’s leader.

Umrah, often described as the lesser pilgrimage, is a significant act of worship in Islam. Unlike Hajj, which takes place during a specific period in the Islamic calendar, Umrah can be performed throughout the year.

President Tinubu is expected to return to Nigeria next week after completing his spiritual engagements in Saudi Arabia.

Continue Reading

News

Atiku’s son Abba Abubakar promises to deliver Adamawa for Tinubu

Published

on

By

Abba Abubakar, son of former Vice-President Atiku Abubakar, has promised to deliver Adamawa, his father’s state, for President Bola Tinubu in the 2027 elections.

He spoke on Friday at the All Progressives Congress (APC) national secretariat in Abuja during the Haske Bola Tinubu Organisation (HBTO) unveiling and the launch of its subsidised public transportation support scheme.

Abubakar, HBTO founder, said his decision to back Tinubu is not an attempt to antagonise his father, the African Democratic Congress (ADC) presidential candidate.

“I recognise that political decisions, particularly those that differ from the positions of individuals with whom one shares personal and family relationships, often attract considerable public attention,” he said.

“However, political conviction is a matter of personal judgment, conscience, and the freedom of every individual to make independent choices.

“My decision to establish and lead the HBTO is a deliberate political choice made with a firm belief in the direction we have chosen.”

See also  Good morning! Here Are Some Major News Headlines In The Newspapers Today: Nigeria, US collaborate to probe Wigwe’s helicopter crash

He said democracy is strengthened when individuals can make independent political choices, engage in constructive dialogue, and support the leadership and political platforms they believe best represent their aspirations.

“It is within this spirit that HBTO was established,” he said.

He commended the economic reforms introduced by the Tinubu administration, citing the Nigerian Education Loan Fund (NELFUND), national infrastructure investments, increased statutory allocations to state governments, and transport support schemes as some of the key social intervention programmes.

Asked whether he would ensure the president gets maximum votes in Adamawa, Abubakar said: “Yes, yes, yes. We are going to deliver Adamawa state.”

He, however, said his decision should not be seen as a betrayal of his family ties or his father’s political aspiration.

“I’ve always supported my father since I started acting in politics, and I supported him because of what he has done for the country,” he said.

“But I believe that whenever a government comes out with policies that will help the people, I will join them.

See also  OPEC: Nigeria now second largest producer in Africa as oil output rises to 1.18m bpd

“It’s not just because it’s my father. I don’t think I am antagonising him; I simply believe in the current government’s policies and the reforms taking place.”

Abubakar joined the APC in January 2026, vowing to mobilise support for Tinubu’s re-election.

Continue Reading

Trending News