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Price of tomatoes increased by 55% between May and June – NBS

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The National Bureau of Statistics (NBS) says prices of tomatoes, garri, and other food items increased by 55 percent in June.

 

The surveyed food items were sold at higher prices in June (last month), according to data released by the NBS.

 

The food items include beans, garri, yam, tomato, and Irish potato.

 

Nigeria’s data bureau said the price of tomatoes (1 kilogramme) increased significantly year-on-year by 320.67 percent from N547.28 in June 2023 to N 2,302.26 in June.

 

“On a month-on-month basis, the average price of this item rose by 55.59% from N 1,479.69 in May 2024,” NBS said.

 

According to the report, the average price of 1kg for brown beans (sold loose) stood at N2,292.76 in the reviewed month.

 

“This indicates a rise of 252.13% in price on a year-on-year basis from N651.12 recorded in June 2023 and a 14.11% rise in price on a month-on-month basis from N2,009.23 in May 2024,” the bureau said.

 

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The NBS said there was also a significant price increase in Irish potatoes by 288.5 percent to N2,423.27 in June 2024 — up from N623.75 in the same month last year.

 

On a month-on-month basis, the NBS said the price of the commodity increased by 51.92 percent from N 1,595.07 in the previous month.

 

“Furthermore, the average price of 1kg Garri white sold loose went up by 181.66% on a year-on-year basis from N403.15 in June 2023 to N1,135.51 in June 2024, while there was an increase of 1.86% on a month-on-month basis,” the agency said.

 

“Also, the average price of 1kg of Yam tuber increased by 295.79% on a year-on-year basis from N510.77 in June 2023 to N2,021.55 in May 2024.

 

“On a month-on-month basis, it increased by 52.87% from N1,322.36 in May 2024 to N2,021.55 in June 2024.”

 

STATE PROFILE ANALYSIS

According to the report, the state profile analysis in June 2024 shows that the highest average price of 1kg of brown beans was recorded in Kogi state at N3,006.43 while the lowest was in Adamawa state at N1,336.11.

 

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“The highest average price of 1kg of Tomato was recorded in Abuja at N3,992.61 while the lowest was in Kebbi State at N1,200,” NBS said.

“Regarding the average price of 1kg of yam tuber, Lagos state recorded the highest price at N3,376.54, while Adamawa recorded the lowest price at N1,100.00.”

 

The bureau said Gombe had the highest average price of 1kg garri (white) sold at N1,619.27, while the lowest was reported in Taraba at N900.

 

“Also, analysis by zone showed that the average price of Bean Brown (sold loose) was highest in the Northcentral at N 2,923.45, followed by the South-south at N2,630.03, while the Northwest recorded the lowest average price at N1,647.03,” NBS said.

 

 

“The average price of 1kg of Tomato was highest in the Southwest and the South-east at N3,261.84 and N2,852.59, respectively, while the lowest was recorded in the North-West at N1,411.16.

 

“The South-west recorded the highest average price of 1kg of Yam tuber at N2,745.80, followed by the North-Central at N2,440.35, while the lowest was recorded in the North-west at N1,238.49.”

 

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The south-west and the north-east, according to the NBS, recorded the highest average price of 1kg of garri (white) — sold at N1,199.62 and N1,155.63, respectively.

 

On the other hand, the bureau said the lowest average price was recorded in the north-central at N1,055.87.

 

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MYK CEO, Alhaji Abubakar Suleiman Mayaki exonerated in high-profile murder case

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Alhaji Abubakar Suleiman Mayaki, CEO of Land and Properties Ltd, has been cleared of any involvement in the murder of one Idowu Keshinro, a case that has garnered significant public interest.

Investigation by the Homicide section of the Federal Criminal Investigation Department (FCID) in Abuja concluded that there was no evidence linking Mayaki to Keshinro’s death.

Initial allegations hinted at a conspiracy involving local police officials, including Assistant Superintendent of Police (ASP) Bose Owonipa and Chike Thankgod. But the FCID’s findings have exonerated Mayaki.

The investigation revealed minimal evidence against him, resulting in his unconditional bail. The FCID’s legal department asserted that the allegations were baseless, raising questions about the motives behind the claims against Mayaki. This case has highlighted concerns over potential corruption within the Nigeria police force.

As the investigation unfolds, the public is eager for further updates in this complex situation, which reflects ongoing challenges within the Nigerian justice system.

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Currently, Mayaki faces charges in a magistrate court in Ogba following an alleged fraudulent duplicate of the case file that was improperly sent to the Lagos DPP, who was said to be unaware of the FCID’s extensive work that questioned the basis for the defendant’s incarceration.

Attention is also being drawn to claims that the alleged conspirator openly boasted in the court about using his wealth to influence the Lagos judiciary, similar to his actions at the FCID in Abuja.

 

Meanwhile, the Inspector General of Police, Deputy Inspector General of Police ( Fcid) and the Lagos State Commissioner of Police and Department of Public prosecution have been urged to ensure thorough investigation and be wary of the antics of mischievous people

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Nigeria not delaying interest payments to savings bondholders – Presidency

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The presidency says the Federal Government is not experiencing any system issue delaying coupon payments to savings bondholders as claimed in reports on Friday.

A bondholder receives a coupon — known as an interest payment for investments in bonds — from the date of the bond issuance until the date of maturity.

Earlier today, a report said the Federal Government failed to pay coupons on two savings bonds on time and blamed the delay — being the second in two months — on system and processing issues.

The report also said the delayed payments are coming at a time when the government is under pressure from its rising debt burden.

However, Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, said the report is “inaccurate”.

According to Onanuga, the government does not have any financial payments issues causing delays in servicing debts.

He also said the country was sufficiently liquid to meet all financial obligations.

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Nigeria has sufficient liquidity to meet all its financial obligations, and there is no default or delay in servicing our debts,” Onanuga said.

“According to Nigeria’s Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, the country currently owes no outstanding payments.

“Additionally, the Director General of the Debt Management Office, Ms. Patience Oniha, confirmed that, as of September 19, the Central Bank of Nigeria has successfully processed all due payments.

“The payment scheduled for today, September 20, is also being processed on time.”

Onanuga also said “any suggestion of systemic financial issues causing delays in bond payments is unfounded”.

The DMO usually issues savings bonds on behalf of the federal government every month.

The bonds are usually a two-year or three-year bond with coupon payments scheduled quarterly.

The initiative, introduced in 2017, is aimed to diversify Nigeria’s borrowing sources and offer retail investors an opportunity to earn income by investing in government securities.

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On the government’s part, generated capital are used to support the fiscal policies and infrastructure development in the country.

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Osun mortuary attendants, five others arrested for selling human parts

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The Osun State Police Command says it has arrested seven suspects for selling human parts and water used to bathe corpses in the state.

A statement signed by the Acting Police Public Relations Officer for Osun Command, Emmanuel Giwa-Alade, noted that those arrested included two mortuary attendants: Johnson Daniel, aged 43, and Adetunji Okunade, aged 42.

Giwa-Alade listed the other suspects as Olaniyan Azeez, Balogun Temitope, Oladapo Hammed, Kazeem Rasaq, and Asaka Rauf. He added that the arrests were made following credible information from a concerned individual that Daniel, a mortuary attendant at Ipetu-Ijesa, was selling remains of corpses deposited at the mortuary where he worked to native doctors.

 

“The suspects used these remains obtained from the mortuary attendant (Johnson Daniel) for various ritual purposes. Daniel also confessed that he conspired with another mortuary attendant, Adetunji Okunade, to sell remnants of water used to bathe corpses to interested native doctors.

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“During the investigation, a search was conducted at the residences of these suspects, leading to the recovery of fragments of substances suspected to be human skulls at the homes of Asaka Rauf and Oladapo Hammed, while a female pant and a notebook containing instructions on ritual practices were recovered from Balogun Temitope Asimiyu’s residence,” Giwa-Alade said.

 

The Osun Police Command spokesperson also reported that three people were arrested for canvassing support for the Yoruba Nation in the state.

According to him, Oluwafemi Fagbuyi, who was picked up at Obada Market in Ikire, where he was addressing people, urged his audience “to denounce their allegiance to Nigeria as a nation.” He claimed that Nigeria ended in 2014 after 100 years of amalgamation and displayed the Yoruba Nation’s flag in the process.

“The case was transferred to the State Criminal Investigation Department after a preliminary investigation. Through diligent investigation, Joy Faseyiku, 63, and Alabede Janet, 64, were arrested in Osogbo and Ikire, respectively, in connection with the crime.

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“The investigation has been concluded, and the suspects have been charged to the Federal High Court accordingly,” he added.

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