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Cost of healthy diet rises 32% in five months — NBS
By Francesca Hangeior
At the backdrop of sustained surge in inflation, it has been established that cost of a Healthy Diet, CoHD, rose by 32 percent to N1,041 per adult per day in May 2024 from N786 in December 2023.
The National Bureau of Statistics, NBS, disclosed this yesterday in its CoHD report for May 2024, noting that the rise was driven by increase in the prices of starchy staples, legumes, nuts and seeds, and animal source foods.
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Analysis of the NBS CoHD report for the period (December 2023 to May 2024) showed that the cost of healthy diet increased by 9.2 percent month-on-month, MoM, to N858 in January 2024 from N786 in December 2023. CoHD increased by 9.3 percent to N938 in February and up by 4.7 percent to N982 in March.
The upward trend continued in April as CoHD grew by 5.4 percent to N1,035 in April and up by 0.6 percent to N1,041 in May.
The report stated: “The national average cost of a healthy diet was N1,041 per adult per day in May 2024. The CoHD has been steadily rising over the past six (6) months, since December 2023.
“In May 2024, the CoHD was 32 percent higher than it was in December 2023 (N786). It was also 1.0 percent higher than the cost in April 2024 (N1,035).
“The main drivers of this increase in CoHD are starchy staples, legumes, nuts and seeds, and animal source foods. Vegetables and fruits, on the other hand, saw the smallest increase in price month-on-month.”
On cost share by food group, NBS said: “Animal source foods were the most expensive food group recommendation to meet in May, accounting for 36 percent of the total CoHD to provide 13 percent of the total calories..
“Fruits and vegetables were the most expensive food groups in terms of price per calorie. They accounted for 11 percent and 12 percent, respectively, of total CoHD, while providing only 7.0 percent and 5.0 percent of total calories in the healthy diet basket.
“Legumes, nuts and seeds were the least-expensive food group on average, at 7.0 percent of the total cost.”
The bureau noted that at the state level, Ebonyi State had the highest average CoHD with N1,225 per adult per day, while Kano State accounted for the lowest cost with N898.
At the zonal level, the South East had the highest CoHD with N1,189 per day, while the North West had the lowest average CoHD with N919 per day.
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Tinubu declines assent to bill seeking to extend National Assembly staff retirement age
By Francesca Hangeior.
President Bola Ahmed Tinubu has withheld his assent to a bill that proposed extending the retirement age for legislative officers and staff of the National Assembly.
The bill aimed to increase the retirement age from 60 to 65 years or extend the length of service from 35 to 40 years, whichever came first.
Titled “A Bill for an Act to Make Provisions for the Retirement Age for Staff of the National Assembly and Related Matters,” the bill passed its second reading in October 2023.
Despite multiple attempts in the 7th, 8th, and 9th Assemblies, the bill had previously failed to pass.
Reintroduced in the 10th Assembly and sponsored by Deputy Minority Leader Hon. Aliyu Sani Madaki (NNPP, Kano), the bill was finally passed by the House on December 20, 2023, but did not receive presidential approval.
Although the Senate initially rejected the bill, it backtracked and passed the bill on the 31st of March 2024 and was transmitted to the President for his assent.
Some of those who opposed the Bill believe that it will lead to stagnation through the rank, while those who supported the bill argued that it will promote efficiency and ensure that experience prevails
However, Tinubu in a letter, read by Senate President Godswill Akpabio during plenary, said he has decided to withhold his assent to the Bill.
He said his decision was informed by the consent which empowered him to take such an action.
The letter reads in part: “I write in respect of the harmonised retirement age for legislative officers of the National Assembly of the Federal Republic of Nigeria Bill passed by the National Assembly and forwarded to me for assent.
“Upon thorough examination and careful consultation, I have decided to withhold my assent to the bill.
“This decision is made in accordance with the powers vested in me by the Constitution of the Federal Republic of Nigeria.
“I wish to express my sincere appreciation of the diligent work of the Senate as regards the drafting and passage of this bill.
“However, I trust that this decision would be received with understanding and acceptance.”
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Nigerians struggling to survive due to harsh realities of inflation – Akpabio
By Francesca Hangeior.
The Senate President, Godswill Akpabio, has said that the citizens are struggling to survive as a result of the courageous economic reforms of President Bola Tinubu.
In a welcome address to fellow Senators on Tuesday, marking their return from the annual recess, Akpabio noted that the National Assembly is fully aware of the economic struggles citizens face, including inflation, high living costs, and market volatility.
He expressed sympathy for Nigerians enduring these challenges but maintained that the current economic situation is not the fault of the Tinubu administration.
He, thereafter, sympathized with Nigerians for the harsh economic situation but claimed that the situation was not caused by the Tinubu-led administration.
He said, “In the face of rising economic pressures, our fellow citizens have been grappling with the harsh realities of inflation, soaring living costs, unpredictable markets and economic indices.
“The challenges have tested the very fabric of our society, and we stand together to express our deepest empathy for every Nigerian who may be buried in the brunt of the current reforms as a result of the need to reposition the economy for most of our country and take us out of the doldrums and the messy situation we met when we assumed office in 2023. We want Nigerians to know that their struggles are not lost on this side.”
He assured that the upper chamber would respond to the economic challenges of the country.
Akpabio said, “Our security duty, as your earnest representatives, remains to respond with the audacity and compassion that the current situation deserves.”
He, however, commended the president for the courageous reforms being carried out on the Nation’s economy which according to him, have started yielding fruits.
He stated, “Amidst these trials, we have also seen commendable strides in various sectors from the executive arm of government led by President Bola Tinubu. Our agricultural initiatives are beginning to bear fruits. The strides made in infrastructure can be seen by all, even starting from the federal capital territory.
“These glimmers of hope pave the way for a brighter future. The hard-won gains will not overshadow the pressing issues that still loom large before us.”
On insecurity, the Senate President assured that lawmakers will prioritise the security of people’s lives and properties.
He stated, “We must, as senators, prioritize the issues of security of our great nation, ensuring that every citizen can walk down any street in this country without fear.
“In the sense of such, insecurity in some parts of the country remains a source of concern for the Nigerian Senate. It is also a clear calling for us to double our efforts in crafting laws and taking decisive actions in the National Assembly to safeguard our communities. There cannot be development in the face of insecurity.”
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