News

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

Published

4 months ago

June 15, 2024

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.

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

News

Police DPO slumps, dies in his Lagos office

Published

4 hours ago

October 19, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Divisional Police Officer (DPO) in charge of Ijanikin Police Station, Lagos State Police Command, CSP Bolaji Olugbenga, is confirmed dead.

A police officer from the Division, who spoke on condition of anonymity, said the body of the officer had been moved to a mortuary.

“He slumped in the office on Thursday and was quickly rushed to the hospital. But sadly, we lost him,” he said.

The state police command has yet to issue a statement on the incident as of the time of filing this report.

News

Outreach: Senator Manu embarks on massive installation of solar powered streetlights in his constituency (Photos)

Published

4 hours ago

October 19, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Disturbed by the fact that his constituency is not linked to the national grid, Senator Manu Haruna has embarked on massive installation of solar powered streetlights in Taraba Central.

To this end, in the last five weeks, three palaces and environs had solar powered energy installed.

Last week, Maihula located in Bali Local Government Area of Taraba streetlights powered by solar energy installed.

On Thursday was the turn of Shagarda located in Gassol local Government Area in Taraba Central where Senator Manu mobilized engineers to light up the streets with solar energy.

This initiative is part of Senator Haruna’s ongoing efforts to improve infrastructure and enhance the quality of life for his constituents.

This project reflects Senator Haruna’s commitment to delivering sustainable solutions and addressing the needs of the people in his senatorial district.

News

NUJ FCT Correspondents Chapel Mourns Loss of Member, Elijah Olaluyi

Published

7 hours ago

October 18, 2024

Gloria Ikibah

By Gloria Ikibah

The Nigeria Union of Journalists (NUJ) FCT Correspondents Chapel has described the sudden passing away of its member, Elder Elijah Olaluyi, as a rude shock.

Naijablitznews.com reports that Olaluyi died on Thursday October 17, 2024, at about 9:45pm in Abuja after a brief illness.

The late Olaluyi was not only a member of the Chapel, but also a unifying factor who played an advisory role in ensuring peace and stability within the union. Until his death, he was the senior Photojournalist with the New Telegraph Newspaper.

In a statement issued on Friday in Abuja, Chapel Chairman, Comrade Jide Oyekunle, said his death it has created a huge vacuum that will be difficult to fill.

The statement reads: “It is with a heavy heart that we announce the death of our colleague, brother, and father, Elder Elijah Olaluyi, who died today, Friday, October 18, 2024, after a brief illness.”

“The leadership of the Chapel extends a heartfelt condolences to Olaluyi’s immediate family, the management and staff of the New Telegraph Newspaper, Photojournalist Association of Nigeria (PJAN), House of Representatives Press Corps, and NUJ FCT Council.

“We pray for the bereaved family to have the strength and resilience to endure this great loss,” Oyekunle said. “Olaluyi was an exemplary, peace-loving, unpretentious, and hard-working journalist who discharged his duties with diligence, devotion, and integrity. He was a core professional, accommodating, and jovial during his lifetime and will be greatly missed by his friends, colleagues, and admirers.”

Olaluyi aged 61, hailed from Ilase in Ipokia Local Government of Ogun State, and is survived by his wife, five children, and grandchildren.

The burial arrangement will be announced by the family in due course.