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Food prices soar as Nigeria’s inflation rate rises to 25.8%

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The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 25.80 percent in August 2023 — up from 24.08 percent in the previous month.

In its CPI report for August 2023, released on Friday, the National Bureau of Statistics (NBS) said the country’s inflationary trend was driven by increases in food prices.

In July, the country’s inflation figure hit the highest in more than 10 years, according to analysis by TheCable Index.

The last time Nigeria’s inflation reached the 24 percent level was in September 2005, when the rate was 24.3 percent.

 

The latest figure marks the eighth consecutive rise in the country’s inflation rate this year.

The NBS report showed the August 2023 headline inflation rate shows an increase of 1.72 percent points when compared with the July figure rate.

“On a year-on-year basis, the headline inflation rate was 5.27% points higher compared to the rate recorded in August 2022, which was 20.52%,” NBS said.

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“This shows that the headline inflation rate (year-on-year basis) increased in August 2023 when compared to the same month in the preceding year (i.e., August 2022).”

The bureau said on a month-on-month basis, the headline inflation rate in August 2023 was 3.18 percent — up by 0.29 percentage points than the rate recorded in July 2023 (2.89 percent).

This means that in August 2023, on average, the general price level was 0.29 percent higher relative to July 2023.

“The percentage change in the average CPI for the twelve-month period ending August 2023 over the average of the CPI for the previous twelve-month period was 22.38%, showing a 5.31% increase compared to 17.07% recorded in August 2022,” the NBS said.

FOOD INFLATION ROSE TO 29.34% IN AUGUST 2023

According to the report, the food inflation rate in August 2023 was 29.34 percent on a year-on-year basis. This was 6.22 percent points higher compared to the rate recorded in August 2022 (23.12 percent).

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“The rise in food inflation on a year-on-year basis was caused by increases in prices of Oil and fat, Bread and cereals, Fish, Fruit, Meat, Vegetables and Potatoes, Yam and other Tubers, Vegetable, Milk, Cheese and Eggs,” the report reads.

“On a month-on-month basis, the Food inflation rate in August 2023 was 3.87%, this was 0.41% points higher compared to the rate recorded in July 2023 (3.45%).”

According to the data agency, the rise in food inflation on a month-on-month basis was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, fish, oil and fat, coffee, tea, and Cocoa.

“The average annual rate of food inflation for the twelve months ending August 2023 over the previous twelve-month average was 25.01%, which was 5.99% points increase from the average annual rate of change recorded in August 2022 (19.02%),” the data body said.
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RESIDENTS OF LAGOS, KOGI, KWARA STATES PAID MORE FOR FOOD IN AUGUST

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According to NBS, CPI is weighted by consumption expenditure patterns which differ across states and locations.

In essence, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption baskets inadvisable and potentially misleading.

Furthermore, the report noted that Kogi, Lagos, and Kwara residents paid more for food during the review period.

“In August 2023, Food inflation on a year-on-year basis was highest in Kogi (38.84%), Lagos (36.04%), and Kwara (35.33%), while Sokoto (20.09%), Nasarawa (24.35%) and Jigawa (24.53%) recorded the slowest rise in Food inflation on a year-on-year basis,” NBS said.

However, the bureau said on a month-on-month basis, August 2023 food inflation was highest in Rivers (7.12 percent), Kwara (5.89 percent), and Kogi (5.80 percent), while Sokoto (0.50 percent), Abuja (1.30 percent) and Niger (1.40 percent) recorded the slowest rise in food inflation.

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Relief as suspected Ebola cases in Adamawa tested negative

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The Nigeria Centre for Disease Control and Prevention (NCDC) has said that there are currently no laboratory-confirmed cases of Ebola  in Adamawa.

The NCDC had on Saturday said that there were two suspected cases of Ebola in the north-east state, adding that the individuals had been isolated while contact identification was ongoing.

But in a statement on Sunday, the director-general of NCDC, Jide Idris,
said samples collected from the two individuals, who had symptoms suggestive of Ebola, tested negative after two rounds of testing.

“The report was received by the Adamawa State Public Health Emergency Operations Centre (PHEOC) in the early hours of 30 October 2026, following the identification of two individuals presenting with symptoms suggestive of Ebola, requiring further investigation,” the statement reads.

“Hence the alert that was released early this evening. The individuals have been isolated, and appropriate public health measures have been initiated.

“Samples were collected for laboratory testing to establish the cause of the illness. Fortunately, the samples turned out negative for EBV after two rounds of testing.”

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Idris commended the Adamawa health commissioner and his team for their “proactive approach”, adding that the NCDC was working closely with the state government to investigate the report of suspected Ebola cases.

“Currently, there is no laboratory-confirmed Ebola case in Adamawa state,” he said.

“The index case previously confirmed in the Federal Capital Territory remains the only confirmed case reported in Nigeria to date.”

He urged the public to remain calm and avoid sharing unverified information or speculating about the situation.

“The public is encouraged to obtain information from official government and public health communication channels,” he said.

Idris described Ebola as a serious infectious disease that requires prompt identification, appropriate clinical management and effective infection prevention and control measures.

“Anyone experiencing symptoms such as fever, severe weakness, headache, muscle pain, vomiting, diarrhoea or unexplained bleeding, particularly following relevant exposure, should seek immediate medical attention and inform healthcare workers of any relevant travel or contact history,” he said.

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“Individuals should avoid self-medication and follow the advice of healthcare professionals.”

Nigeriaconfirmed its first Ebola case in more than a decade on October 20, after a 42-year-old Swiss woman tested positive for the Bundibugyo strain in Abuja.

The patient, who had travelled from Uganda to Nigeria, was subsequently isolated and treated by Nigerian health workers.

On Monday, the federal governmentevacuated the patient to Switzerland aboard a medical plane.

Her husband, who was identified as a close contact, was also evacuated to Switzerland.

Ali Pate, coordinating minister of health and social welfare, said the patient was clinically much improved, stable, conscious and communicating, with her laboratory test results approaching baseline levels.

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

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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.

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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

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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.

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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.

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

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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.

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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.

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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.

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