Connect with us

News

Nigeria’s inflation rate rises to 33.95% as food prices continue to surge

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The National Bureau of Statistics (NBS) says Nigeria’s inflation rate rose to 33.95 percent in May, as prices of food and non-alcoholic beverages continued to surge.

NBS made this known in its consumer price index (CPI) report on Saturday. In April, the inflation rate stood at 33.69 percent. “Looking at the movement, the May 2024 headline inflation rate showed an increase of 0.26% points when compared to the April 2024 headline inflation rate,” NBS said.

“On a year-on-year basis, the headline inflation rate was 11.54% points higher compared to the rate recorded in May 2023, which was 22.41%.” The report also shows that on a month-on-month basis, the headline inflation rate in May 2024 was
2.14 percent, which was 0.15 percent lower than the 2.29 percent rate reported in April 2024

This means that in the month of May, the rate of increase in the average price level is less than the rate of increase in the average price level in April 2024.

Advertisement

An analysis of the top five headline inflation drivers showed food and non-alcoholic beverages led with 17.59 percent. Following closely are housing, water, electricity, gas and other fuels with 5.68 percent. Others are clothing and footwear at 2.60 percent, transport at 2.21 percent, with furnishings, household equipment and maintenance completing the list at 1.71 percent. NBS said on a year-on-year basis, the urban inflation rate rose to 36.34 percent in May, “which was 12.61% points higher compared to the 23.74% recorded in May 2023”.

“On a month-on-month basis, the Urban inflation rate was 2.35% in May 2024, this was 0.32% points lower compared to April 2024 (2.67%),” NBS said. “The Rural inflation rate in May 2024 was 31.82% on a year-on-year basis; this was 10.63% higher compared to the 21.19% recorded in May 2023.” Cable News

Continue Reading
Advertisement
Click to comment

Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49

You must be logged in to post a comment Login

Leave a Reply

News

Deregistration order: Judge Lifu’s conduct is a serious breach of judicial hierarchy-ADC Legal Adviser, Osunbor

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

…confirms NJC has party’s petition already

The African Democratic Congress (ADC) has said it has petitioned the National Judicial Council (NJC) against Justice Peter Lifu of the Federal High Court, Abuja, over his handling of the suit in which he ordered the deregistration of the party and four others.

ADC National Legal Adviser and ex- Edo State Governor, Senator Oserheimen Osunbor, revealed this during an appearance on Channels Television’s Politics Today on Wednesday, declaring that the judge’s conduct is a serious breach of judicial hierarchy.

“We had actually petitioned Justice Lifu to the NJC. We already have a petition against him, and we are pursuing it. This is even an additional reason for us to pursue it because it is incumbent on all of us to ensure that we have a sanitised judiciary in Nigeria,” Osunbor said.

Advertisement

The professor of law accused the judge of deliberately disregarding an order of the Court of Appeal directing him to stay proceedings in the matter.

“How flagrant can a violation be, more than what Lifu did? To say to the Court of Appeal, ‘Yes, I am aware; I have seen; I have received and acknowledged your stay of proceedings, but I will not obey it because you do not have any power to arrest my judgement.’ That is disturbing. For a lower court to completely disregard the order of a superior court is unprecedented. The rule of law thrives on obedience to court orders,” he added

Responding to questions about the possibility of further litigation, Osunbor expressed confidence that the Supreme Court would uphold the principle of obedience to court orders.

“The Supreme Court has repeatedly held that it will not tolerate the violation of court orders. No matter how perverse a court order may appear, it is not for anyone to disobey it. The court will come down very hard on anyone who violates a valid court order,” he said.
Osunbor also criticised recent moves to deregister opposition parties, noting that many Nigerians initially believed the Independent National Electoral Commission (INEC) was working in concert with those seeking to weaken the opposition.

Advertisement

His remarks came a day after the Court of Appeal in Abuja nullified the Federal High Court judgement directing INEC to deregister the ADC, Action Peoples Party (APP), Action Alliance (AA), Accord Party (AP), and Zenith Labour Party (ZLP).

In a unanimous judgement delivered on Tuesday, a three-member panel of the appellate court held that the June 15 decision of the Federal High Court was a nullity because it was founded on an incompetent suit filed by the National Forum of Former Legislators (NFFL), a body the court held lacked the legal capacity to institute the action.

Justice Abba Mohammed, who delivered the lead judgement, ruled that the trial court wrongly assumed jurisdiction and ignored evidence showing that the affected political parties had won elective positions in previous elections.

The appellate court also faulted Justice Lifu for proceeding with the case despite an earlier order directing him to stay proceedings pending the determination of an appeal.

Advertisement

The court described the trial judge’s action as “a form of judicial impertinence”, noting that the Supreme Court had previously held that a judge who disregards a superior court’s order could be considered “unfit for the bench”, describing such conduct as “judicial rascality.”

The appellate court consequently set aside the deregistration order, restored the legal status of the five political parties, and awarded costs against the NFFL, which had instituted the suit.

Justice Lifu had earlier ruled that the parties failed to satisfy the constitutional requirements for continued registration under Section 225A of the 1999 Constitution (as amended), citing their alleged poor electoral performance in the 2023 general elections and subsequent by-elections. He had also restrained INEC from recognising the parties or accepting candidates nominated by them for the 2027 general elections.
However, the Court of Appeal held that the trial court lacked jurisdiction to entertain the suit and ruled that all the affected political parties remain duly registered.

Advertisement
Continue Reading

News

Joint troop rescue 32 abductees as bandits flee during gun duel in Sokoto

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Police operatives in Sokoto State, supported by troops of the Nigerian Army, have rescued 32 abductees after a fierce gun duel with armed bandits in Maikujera village, Rabah Local Government Area of the state.

Sources told Zagazola Makama that the operation followed a distress call received at about 8:30 a.m. on Monday by the Divisional Police Officer (DPO) of Rabah Division, reporting the movement of a large group of heavily armed bandits around the remote community bordering Zamfara State.

The intelligence indicated that the gunmen were moving with several kidnapped victims and rustled livestock while shooting indiscriminately to intimidate residents.

Upon receiving the report, the DPO immediately mobilised tactical assets, including personnel from the Anti-Kidnapping Unit and the Violent Crime Reaction Unit (VCRU), while coordinating with troops at a nearby Army Forward Operating Base (FOB).

Advertisement

Security forces swiftly established blocking positions along suspected escape routes to prevent the bandits from fleeing with their captives.

The combined team subsequently engaged the criminals in a prolonged exchange of gunfire, forcing the bandits to abandon both the kidnapped victims and the rustled livestock before escaping into the surrounding forest under sustained pressure from the security forces.

Following the encounter, security operatives conducted an extensive search of the bush and nearby communities to locate victims who had dispersed into the surrounding area while seeking safety.

The operation led to the successful rescue of 32 kidnapped victims, all of whom were recovered alive and without physical injuries.

Advertisement

The rescued victims comprised six adult males and 26 females, the majority of whom were children.

The victims were evacuated to a secure location where they are receiving medical attention and psychosocial support ahead of their reunification with their respective families.

However, Zagazola gathered that four residents were killed by the bandits during the initial attack on the community before the arrival of security personnel.

Reacting to the development, the Commissioner of Police in Sokoto State, CP Hayatu Hassan Shaffa, expressed condolences to the bereaved families and assured residents that security agencies were intensifying efforts to track down and apprehend the fleeing bandits.

Advertisement

He reaffirmed the command’s commitment to combating banditry, kidnapping and other violent crimes across the state, urging members of the public to remain vigilant and continue providing timely and credible information to security agencies.

The latest operation illustrates the growing synergy between the Nigeria Police Force and the Nigerian Army in responding to bandit attacks across communities in northwestern Nigeria, particularly along the Sokoto–Zamfara border, where criminal groups have continued to exploit difficult terrain to carry out kidnappings, cattle rustling and attacks on rural settlements. (Zagazola)

Continue Reading

News

Europe on fire: Over 300,000 dislocated from their homes

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Over 300,000 people have been dislocated from their homes as devastating wildfires continue to sweep across Spain and parts of France, forcing mass evacuations and prompting the Spanish government to declare a national emergency.

Reports indicate that the fires have spread rapidly around Madrid and along Spain’s eastern coast, with new data showing that the rate of land burned across Europe has increased by 57 percent over the past four years.

According to the World Health Organisation (WHO) European Region, nearly 10,000 hectares have been destroyed in the Madrid region, while between 13,000 and 15,000 hectares have been consumed in the neighbouring Ávila province. Spain’s Interior Ministry also confirmed that the number of wildfires recorded in Spain and Portugal has more than doubled compared to the previous year.

The head of Madrid’s regional government described the current blaze as the worst ever experienced in the area.

Advertisement

In France, about 63,000 residents have been evacuated from the southern part of the country as multiple wildfires continue to burn simultaneously, destroying about 80 homes. France has requested international firefighting assistance through the European Union’s Civil Protection Mechanism.

WHO Europe noted that wildfires destroyed 2.2 million hectares of land across the region in 2025, up significantly from 1.4 million hectares in 2022, reflecting the impact of rising global temperatures.
Environmental campaign group 350.org said the crisis exposes the enormous cost of delaying action on fossil fuels.

Its global campaigner, Soraya Fettih, who lives near Bordeaux, said she was evacuated from her home as the fires approached the suburbs, describing skies filled with smoke and ash and communities forced to flee.

She criticised governments for continuing to subsidise fossil fuel companies while residents bear the cost of climate disasters. Fettih also pointed to TotalEnergies’ reported $11.2 billion profit in six months, saying communities are paying twice—through climate destruction and public funding that continues to support companies profiting from fossil fuels.

Advertisement

350.org noted that TotalEnergies recorded an adjusted net income of $6.03 billion in the second quarter of 2026, a 68 percent increase from the same period last year, largely due to stronger refining margins. The organisation stressed that while the full economic cost of the 2026 wildfire season is yet to be determined, the fires are being intensified by global warming linked to fossil fuel use.

It urged European governments to impose higher taxes on fossil fuels and introduce climate damage taxes on oil and gas profits to fund emergency response, recovery efforts and long-term resilience.
Meanwhile, the European Union has intensified support for both Spain and France. The European Commission confirmed that France has received five firefighting aircraft and two helicopters from the Czech Republic, Croatia, Portugal, Slovakia and Sweden, while additional helicopters from Germany and firefighting aircraft from Turkey are expected to join operations.

Spain has received six firefighting aircraft from Greece, Italy and Turkey, alongside three Portuguese ground teams made up of 134 firefighters and 41 vehicles. The Commission said the assistance is being coordinated and financed through the EU Civil Protection Mechanism.

EU Crisis Commissioner Hadja Lahbib said no country should have to face a disaster of such magnitude alone, assuring the people of France and Spain that Europe would continue to stand with them until the fires are fully extinguished.

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News