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Just in: Nigeria’s inflation rises in three consecutive months

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By Ojomah Austin.

 

Nigeria’s inflation rose for the third consecutive month to 15.93 percent in May 2026 from 15.69 percent recorded in April.

The National Bureau of Statistics disclosed this in its Consumer Price Index and inflation data released on Monday.

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This means that in May, the country’s inflation rose on a month-on-month basis by 1.75 percent.

Also, the report showed that food inflation also skyrocketed to 16.96 percent in May, up from 16.06 percent recorded the previous month.

“In May 2026, the headline inflation rate on a month-on-month basis was 1.75 percent, which was 0.39 percent lower than the rate recorded in April 2026 (2.13 percent).

On a year-on-year basis, the headline inflation rate rose to 15.93 percent, up from 15.69 percent in April 2026 and down from 26.06 percent in the same month of the preceding year May 2025.

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The Food inflation rate in May 2026 on a month-on-month basis was 2.98 percent, down by 0.65 percentage points from April 2026 (3.63 percent). On a year-on-year basis, it was 16.96 percent and stood at 24.55 percent in the same month of the preceding year, May 2025”.

Recall that the headline inflation rate dropped in March and April, respectively.

Recall the Central Bank of Nigeria retained the country’s interest rate 26.50 percent in its 305th Monetary Policy meeting.

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UK seizes $300m worth of cocaine at London gateway

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Authorities in the United Kingdom have yet again thwarted a plot by South America cartels to smuggle cocaine into the country with a three-tonne bust at London Gateway.

The National Crime Agency NCA, said that on August 6, officers intercepted a 2.9 tonne consignment of cocaine that was hidden in a load of bananas, among the largest seizures in recent months. The drugs, which are estimated to have a street value of $313 million, originated from the banana-producing, cocaine-trafficking regions of South America. Nine men were arrested as part of the investigation.

Although authorities did not reveal the identity of the vessel, they said that NCA intelligence led to the seizure at the London Gateway port that in recent months has been used as an entry point by South American drug cartels targeting the lucrative UK market. The drugs were removed and the container allowed to be collected.

“This is a very significant seizure which has deprived the organised crime group behind it of huge profits. That is money that cannot be ploughed back into further crime,” said Dave Phillips, NCA senior investigating officer.

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The London Gateway port is implementing an ambitious plan to become Britain’s most important container port, and saw container throughput surge by 52 per cent last year to three million TEU from 1.9 million TEU recorded in 2024.

Drug cartels are taking advantage of the growth to use the facility for drug trafficking into the UK. In March, law enforcement officers seized around one tonne of cocaine hidden in a container originating from Panama with a street value of $107 million. In June last year, officers seized 2.4 tonnes of cocaine with an estimated street value of $133 million at the port.

Government statistics show that the UK remains a lucrative market for cocaine smugglers, with people in England consuming 123,000 kilograms of cocaine annually, equating to a $13.2 billion market value.

“Class A drugs wreck lives, they are toxic and can devastate our communities,” said Phillips, adding that the NCA is determined to continue combating the threat of cocaine with domestic partners like the Border Force as well as international partners across source and transit countries.

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Osun Poll: Police Announce Movement Restriction, Reiterate Ban On Amotekun, Others

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The Nigeria Police Force (NPF) has reiterated its ban on the participation of the Amotekun Corps and other non-state security groups in security operations for the Osun State Governorship Election.

The Force also announced a restriction on movement across the state from midnight on Friday, August 14, 2026, to 6:00 p.m. on Saturday, August 15, 2026, as part of measures to ensure a peaceful and orderly election.

The Force Public Relations Officer, Force Headquarters, Abuja, Anietie Iniedu, disclosed this in a statement on Friday ahead of the poll.

The police said only security agencies recognised and established under the Constitution and laws of the Federal Republic of Nigeria are authorised to perform security and law-enforcement duties in connection with the election.

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It warned that no non-state security group, vigilante organisation or other unauthorised body would be permitted to assume or exercise the functions of a recognised security agency.

“Accordingly, such groups are directed to stay away from election-related security operations and refrain from any activity capable of intimidating voters, disrupting the electoral process or undermining public peace and security,” the statement said.

The Force urged members of the public to comply fully with the movement restriction and cooperate with security personnel deployed across the state.

It added that only persons and categories of movement specifically exempted by the appropriate authorities would be allowed during the restriction period.

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The police further advised political parties, candidates, supporters and other stakeholders to conduct themselves peacefully and responsibly, warning against actions capable of triggering violence or disrupting the electoral process.

The Force reaffirmed its commitment to maintaining peace and security, as well as ensuring a level playing field for all political actors and eligible voters throughout the election.

It also urged residents to remain calm and law-abiding and to promptly report suspicious or unlawful activities to constitutionally and legally recognised security agencies.

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‘I Am Very Sorry’: Madugu Apologises To Nigerians After Super Falcons’ World Cup Miss

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Super Falcons head coach Justin Madugu has apologised to Nigerians and accepted responsibility after the team failed to qualify for the World Cup.

Nigeria lost 2-1 to South Africa in the play-off. After a goalless first half, Thembi Kgatlana and Refiloe Jane scored for Banyana Banyana. Christy Ucheibe pulled one back from the penalty spot. But her goal was not enough to send the Super Falcons through.

Speaking after the match, Madugu accepted responsibility for the outcome, which ended Nigeria’s 2027 Women’s World Cup dreams.

“I am very sorry,” the Adamawa-born coach said during a post-match interview after the team’s disappointing exit, admitting that although the Super Falcons gave their best, it was not enough.

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“We came, did the best that we could, but our best was not good enough, and we’re very sorry for that, and we take full responsibility for everything that happened,” he said.

Madugu said the 10 times Women’s Africa Cup of Nations (WAFCON) champions approached the game determined to win but were punished for failing to convert their chances and for making costly mistakes at the back.

“We had chances. Still, the conversion was another problem, and we made some little errors at the back. They capitalised on that, and they got the goals,” he said.

The coach said the defensive problems were largely the result of poor decision-making and lapses in concentration rather than sustained pressure from the opposition.

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“We had the game under control,” Madugu said. “Momentary loss of concentration and then trying to do something that was unnecessary always results in the kind of goals that we tend to concede.”

He admitted that the repeated defensive lapses had become a major concern, especially for a team that has traditionally been difficult to score against.

“All of a sudden, I don’t know, it could be complacency, it could also be, you know, sort of overconfidence, and then we end up making mistakes,” he said.

Madugu also acknowledged that Nigeria’s inability to finish chances proved costly.

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“We have not been clinical. We create several chances, but we are very wasteful with the opportunities that always come our way,” he said.

According to him, the Super Falcons had enough opportunities to put the game beyond their opponents but failed to take advantage of them.

“This was a game we would have finished in the first half, based on the opportunities that we had, but we couldn’t utilise them,” Madugu added.

“How many chances did South Africa get? But because they were more clinical, they converted the chances that came their way. Today, they are the ones that won the match.”

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On his tactical decisions and substitutions, Madugu defended the changes made during the game, explaining that some were forced by injuries.

He revealed that Deborah Abiodun had been playing through pain and repeatedly signalled that she needed to leave the pitch.

“She was in pain and kept giving signals that she wants to go out,” he said, adding that the player had to be protected to avoid worsening the injury.

Addressing calls for his dismissal on social media, Madugu said he understood the anger and disappointment among Nigerians.

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“It’s within their right because I can understand the pains that everybody is going through,” he said.

Madugu added that he was prepared to accept whatever decision the football authorities eventually make about his future.

“As a coach, you must always live with the consequences of whatever it is that comes your way. I am not afraid of being sacked,” he said.

He pointed to his record with the team, saying he had managed almost 28 matches, winning 19, losing four and drawing four.

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However, he acknowledged that the timing of the defeats mattered, particularly when they came at crucial stages.

“Nigerians… you are always judged as a coach based on your last result,” Madugu said.

Despite the disappointment, Madugu maintained that the team had prepared extensively and analysed its opponents before the match.

He said the Falcons had a clear game plan but failed to consistently execute it, with anxiety and individual mistakes ultimately proving costly.

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“We said they do the same thing we’re going to do because now the normal trend everywhere,” he said, stressing that sticking to simple instructions could have prevented some of the problems.

With the World Cup dream now over, Madugu accepted that the team must learn from the painful outcome.

“If our best is not good enough, it’s not for me to decide what happens,” he said, while thanking Nigerians for the opportunity to lead the national team.

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