Connect with us

News

Nigeria’s inflation rate drops to 16%

Published

on

The National Bureau of Statistics (NBS) says Nigeria’s headline inflation eased to 16.05 percent in October 2025.

The NBS announced this in its consumer price index (CPI) report on Monday.

The latest inflation rate is the seventh consecutive decline this year.

The NBS said the current inflation rate, on a year-on-year basis, “was 17.82% lower than the rate recorded in October 2024 (33.88%)”.

“This shows that the Headline inflation rate (year-on-year basis) decreased in October 2025 compared to the same month in the preceding year (i.e., October 2024), though with a different base year, November 2009 = 100,” the bureau said.

“On a month-on-month basis, the Headline inflation rate in October 2025 was 0.93%, which was 0.21% higher than the rate recorded in September 2025 (0.72%).

“This means that in October 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2025.”

See also  Man kills grandfather, uncle for money ritual in Ibadan

FOOD INFLATION RATE DECLINES TO 13.12%

The statistics firm also said the food inflation rate for October 2025 was 13.12 percent year-on-year.

According to the NBS, this is 26.04 percent lower compared to the rate recorded in October 2024 (39.16 percent).

“However, on a month-on-month basis, the food inflation rate in October 2025 was -0.37%, up by 1.21% compared to September 2025 (-1.57%),” the report reads.

“The increase can be attributed to the rate of increase in the average prices of Onions (Fresh), Fruits (Oranges, Pineapple), Shrimp, Groundnuts (Unshelled), Vegetables (Ugu, Okazi leaf), and Meat (Goat meat, Cow tail, Liver), among others.

“The average annual rate of Food inflation for the twelve months ending October 2025 over the previous twelve-month average was 21.96%, which was 16.16% points lower compared with the average annual rate of change recorded in October 2024 (38.12%).”

In the month under review, NBS said food inflation, on a year-on-year basis, was highest in Ogun (20.85 percent), Nasarawa (19.96 percent), and Ekiti (19.70 percent).

See also  Nigeria recorded 3.4% GDP growth in 2021 -NBS

On the other hand, the bureau said Akwa Ibom (3.98 percent), Katsina (4.15 percent), and Yobe (4.29 percent) recorded the slowest rise in food inflation on a year-on-year basis.

The agency added that in Bauchi (6.77 percent), Abuja (5.11 percent), and Niger (4.84 percent) recorded an increase in food inflation on a month-on-month basis.

Nigeria’s inflation rate has been slowing down since April this year — with the latest being the seventh consecutive decline.

At its September monetary policy committee (MPC) meeting, the Central Bank of Nigeria (CBN) reduced the interest rate to 27 percent — the first cut in five years — after a sustained decline in inflation.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Tinubu returns to Nigeria after state visit to UK

Published

on

By

President Bola Tinubu arrived in Lagos early on Friday following a two-day historic visit to the United Kingdom.

The president is expected to join Muslim faithful later in the day to mark the celebration of Eid-el-Fitr.

Tinubu and his wife, the First Lady, Oluremi Tinubu, touched down at about 1:15 a.m. at the Presidential Wing of the Murtala Mohammed International Airport.

They were received on arrival by top government officials and party members, including Lagos State Deputy Governor Femi Hamzat and Chief of Staff to the President, Femi Gbajabiamila, alongside other All Progressives Congress (APC) stalwarts.

See also  Nigeria’s inflation rate increases to 34.19% amid rising food prices
Continue Reading

News

Tinubu departs UK for Nigeria after historic state visit

Published

on

By

President Bola Ahmed Tinubu has departed the the United Kingdom for Nigeria following a high-profile state visit.

This was disclosed on Friday morning by the President’s Special Adviser, Information & Strategy, Bayo Onanuga.

“President Tinubu and First Lady Oluremi Tinubu depart London for Nigeria. President Tinubu and his wife are heading to Lagos for the Eid-el-Fitr celebration,” Onanuga wrote on his Facebook page.

The visit was marked by royal engagements, economic discussions and renewed diplomatic ties.

Tinubu was first received by King Charles III at Windsor Castle, where both leaders held talks aimed at strengthening relations between Nigeria and the UK. The visit featured ceremonial honours, including a carriage procession and a state banquet attended by senior members of the royal family.

At the banquet, Tinubu emphasised the importance of stronger cooperation between both countries. “Nigeria remains ready to deepen its partnership with the United Kingdom in trade, investment and shared prosperity,” he said. “We are committed to creating an environment that supports investors and drives sustainable growth,” Tinubu said.

See also  Bandits kill ex-soldier, wife, daughter-in-law in Kaduna

On his part, King Charles highlighted the enduring relationship between the two nations. “The United Kingdom and Nigeria share deep and enduring ties. Our countries are bound not only by history, but by a shared commitment to opportunity, enterprise and cultural exchange,” the monarch said.

Beyond the royal engagements, Tinubu also took part in meetings with UK officials, including discussions linked to the government of Keir Starmer, focusing on economic collaboration and investment opportunities.

Speaking on the outcomes of the visit, Tinubu said: “This visit has opened new pathways for cooperation, particularly in infrastructure and trade. We look forward to translating these discussions into tangible benefits for our people.”

A key development from the trip was progress on an agreement involving the rehabilitation of Nigerian ports, valued at hundreds of millions of pounds. According to officials, the project is expected to boost maritime capacity and support economic growth.

Tinubu also acknowledged the significance of the visit, noting that it comes at a crucial time for Nigeria’s economy. “We are determined to reposition our economy through strategic partnerships such as this,” he said.

See also  JUST IN: Nigeria’s inflation rate drops to 21.8%

Continue Reading

News

Good morning! Nigerian Newspapers Headlines: 2027 gov poll: Succession firestorm heats up in 10 states

Published

on

By

1. The simmering build-up to the 2027 general elections is rapidly giving way to an expansive and high-stakes succession season in at least 10 states, as governors in their final terms prepare to exit and a new generation of political actors moves to take their place.

Governors Babajide Sanwo-Olu (Lagos), Dapo Abiodun (Ogun), Seyi Makinde (Oyo), Bala Mohammed (Bauchi), Mai Mala Buni (Yobe), Babagana Zulum (Borno), Ahmadu Fintiri (Adamawa), Inuwa Yahaya (Gombe), Abdullahi Sule (Nasarawa), and AbdulRahman AbdulRazaq (Kwara) are in the final lap of their constitutionally permitted two-term, four-year tenures, and the battle for their successors has begun across the states


2. President Bola Tinubu on Thursday night departed London after a two-day historic visit at the instance of the royal family. He is expected to land in Abuja on Friday morning.


3. The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has called on the Nigerian military to adopt a more proactive strategy against terrorist groups in the wake of deadly bombings in Maiduguri, Borno State.
Abubakar made the appeal on Wednesday evening while declaring Friday as Eid-el-Fitr, marking the end of the Islamic holy month of Ramadan.


See also  Nigeria recorded N6.5trn trade surplus in Q1 2024, says NBS

4. Governor Babagana Umara Zulum of Borno State says the time of Boko Haram informants and their sympathizers is up, vowing that they would be tracked and made to face the full wrath of the law. The governor gave the warning during a state-wide broadcast on Thursday.


5. There was panic at St. Matthias Catholic Church, Agulu, in Anaocha Local Government Area of Anambra State, after a fully loaded lorry crashed into the church premises and caught fire. The incident, which occurred late on Wednesday along the Agulu Lake–Golden Tulip Hotel Road, caused gridlock as motorists slowed down while emergency responders battled to contain the blaze.



6. Nigeria has entered into a fresh agreement with the United Kingdom that will enable British authorities to repatriate thousands of failed asylum seekers and convicted offenders to the West African nation. The deal was formalised by Interior Minister Olubunmi Tunji-Ojo and UK Home Secretary, Shabana Mahmood during President Bola Tinubu’s official visit to Britain.


See also  JUST IN: Nigeria’s inflation rate drops to 21.8%

7. Combined security operatives have arrested three suspected bandits linked to the February 3, 2026 attack on Woro village in Kaiama Local Government Area of Kwara State. The arrest was disclosed on Thursday by the Senior Special Assistant on Media to Governor AbdulRahman AbdulRazaq, Ibraheem Abdullateef, in a Facebook post.



8. The National Drug Law Enforcement Agency, Kano Strategic Command, has arrested a suspect and recovered 510 blocks of cannabis sativa in a major pre–Eid-el-Fitr operation. The State Commander, D.Y. Lawal, disclosed this in a statement issued on Thursday by the command’s Public Relations Officer, Assistant Superintendent of Narcotics, Sadiq Muhammad Maigatari.


9. Nigeria has been ranked the fourth most terrorized country in the world, according to the Global Terrorism Index, 2026, released by the Institute for Economics & Peace, a non-profit think tank headquartered in Sydney, Australia. The report showed that 750 Nigerians lost their lives to terrorism in 2025, representing a 46 per cent increase compared to the previous year.



See also  Man kills grandfather, uncle for money ritual in Ibadan

10. The Police Command in Enugu State has detained three suspects in coordinated crime prevention operations across the state, recovering a firearm, ammunition and a tricycle. The command’s spokesman, SP Daniel Ndukwe, disclosed this in a statement issued on Thursday in Enugu. Ndukwe said that on March 15, about 9 a.m., operatives on patrol along Enugu-Port Harcourt Expressway intercepted an unregistered tricycle.

Continue Reading

Trending News