• More people are being dragged into poverty because of poor purchasing power; unemployment has risen and will further hurt the economy
Nigerians are struggling as the inflation rate rose by 0.92 basis points to 20.52 per cent in August from 19.6 per cent in July, the highest since October 2005.
This represents the seventh consecutive monthly rise in Headline inflation since February. Food inflation also rose to 23.12 per cent in August 2022, representing a 1.1 percentage-point increase compared to 22.02 per cent recorded in the previous month.
In its Consumers Price Index, CPI, report for August, the National Bureau of Statistics (NBS) said the “increases were recorded in all divisions that yielded the headline index”.
The Bureau stated: “In August 2022, on a year-on-year basis, the headline inflation rate was 20.52 per cent. This was 3.52 percentage points higher compared to the rate recorded in August 2021, which was 17.01 per cent.
“This shows that the headline inflation rate increased in the month of August 2022 when compared to the same month in the preceding year (August 2021). On a month-on-month basis, the Headline inflation rate in August 2022 was 1.77 per cent, this was 0.05 per cent lower than the rate recorded in July 2022 (1.82 per cent).”
On food inflation, NBS further reported: “The food inflation rate in August 2022 was 23.12 percent on a year-on-year basis; which was 2.82 percent higher compared to the rate recorded in August 2021 (20.3 percent).
“This rise in food inflation was caused by increases in prices of bread and cereals, food products, potatoes, yam, and another tuber, fish, meat, oil, and fat. On a month-on-month basis, the food inflation rate in August was 1.98 percent, this was a 0.07 percent decline compared to the rate recorded in July 2022 (2.04 percent). This decline is attributed to a reduction in prices of some food items like yam tubers, garri, local rice, and vegetables.”
In addition to the reasons advanced by NBS, several experts listed other inflationary pressure points, while recommending some solutions.
Professor of Capital Market at Nasarawa State University, Keffi, Uche Uwaleke, reacting to the rise in inflation by 20.52% the highest in two decades, said: “The increase in headline inflation above the psychological threshold of 20% did not come as a surprise in view of the rising inflation trend in many economies, partly caused by the Russian-Ukrainian conflict.
“It’s interesting to note that the NBS, in its latest CPI report, provided a clue as to the major factors driving the inflationary pressure in Nigeria, namely supply disruptions and rising cost of production. In the light of this revelation, what becomes clear is that the recent monetary policy tightening stance of the CBN alone may not address the challenge. The government needs to formulate and implement complementary fiscal policies aimed at boosting food supply as well as reducing firm’s cost of production.”
In his reaction, analyst and Chief Executive Officer, APT Securities & Funds Limited, Mallam Garba Kurfi, said: “I am not surprised with the outcome but I hope it will not further go up as harvesting of our agricultural products will likely push the food cost down. Equally the price of other foods, especially, wheat is globally coming down. We are expecting inflation to fall before the end of the year. But of more concern is the increase of the Monetary Policy Rate, MPR, in the last two consecutive sittings of the Monetary Policy Committee, MPC. We hope the monetary authorities will keep the rate the same for the rest of the year.”
Reacting as well, analyst and CEO, Wyoming Capital and Partners, Tajudeen Olayinka, said: “20.52% inflation number for the month of August 2022, is an indication that demand-side management tools being deployed by CBN to tame inflation in Nigeria may actually be aggravating the situation, given the fact that most of the factors responsible for inflation in Nigeria are traceable to the supply side of the economy. These supply side factors had been there and largely unresolved before the emergence of imported inflation that came as a result of the Russian war on Ukraine.
“Foreign exchange scarcity and exchange rate mismanagement; unending insecurity and limited access to farms; crude oil theft and inability to meet OPEC production quota; high cost of raw materials; infrastructure deficit; highly elevated cost of capital in the economy are some of the dangerous factors bedeviling Nigerian economy. So, it will be difficult for CBN’s demand side management tools to solve the problem. Unfortunately, the fiscal side is weak, with no positive contribution to make at this time, other than to engage in excessive borrowing and fiscal rascality. That is also driving up inflation.”
He further said: “This is not to say CBN is not aware of possible failure of its demand side management tools, or that raising interest rate will not sufficiently address the current inflationary pressure, but because it must also act to address possible threats of reversal of capital flow, arising largely from interest rate hike in Europe and America. These are the issues.”
To solve the inflation rate problem, Olayinka, said: “So, solving this problem requires that global inflationary threat is dealt with by the more advanced economies, while Nigeria’s fiscal authority continues to search for solutions to supply side problems it created. Impact of high inflation is better imagined than real; more people are now being dragged into poverty because of poor purchasing power; unemployment will rise as a result. This will further hurt the economy.”
Reacting, the Nigeria Employers’ Consultative Association, NECA, urged the government to suspend all forms of new taxes and levies to give a respite on the spiking production cost to tackle the rising inflation.
Speaking through its Director-General, Mr Wale Oyerinde, NECA contended that “it is apparent that the government’s intervention so far has not impacted the inflationary pressures that have kept rising.
He stated: “Around the globe, concerns about inflation have led many countries to consider an aggressive approach towards slowing down the economy. Consumers are also beginning to think twice about spending on goods and some services. In Nigeria, it is apparent that the government’s intervention so far has not impacted the inflationary pressures that have kept rising. Rather, some of these interventions have been counterproductive. The recently announced 20.52 percent inflation rate affirms the need for Government to take a second look at current strategies aimed at flattening the curve.
“The key drivers of inflation which includes, worsening currency depreciation, escalating transportation cost, high import duty on manufacturing inputs, security concerns among others have continued to crowd out the government’s interventions.
It leaves us to wonder whether these interventions are truly right for our peculiar challenges. With the crisis between Russia and Ukraine, the rising cost of energy around the world has translated to a significant uptrend being witnessed in most economies as prices of goods and services have reached unprecedented levels.
“To tackle inflation, all forms of new taxes and levies should be suspended to give a respite on the spiking production cost. There should also be deeper stakeholder engagements across sectors to develop an enduring strategy on the way forward. The federal government like its counterpart in other climes must be responsive and deliberate in its efforts to flatten the inflationary pressures.”
Reacting, former National President of National Association of Government Approved Freight Forwarders, NAGAFF, Eugene Nweke, has blamed the Federal Government’s economic policy for the sharp rise in inflation rate.
Speaking with Vanguard on the inflationary situation Nweke said the inflation rate rise will further force companies in the maritime sector to close shops or down-size their workforce.
He said: “The closure of companies will further drive more citizens into poverty. Already the sector is struggling and the government policies are not helping. The ports being the gateway for trading and most goods imported are consumables; The scarce foreign exchange will drive up the cost of goods which will in turn drive up inflation.” – Vanguard.
A widely circulated video on social media has stirred controversy, showing Katsina State’s First Lady, Hajiya Fatima Dikko Radda, allegedly spraying U.S. dollars at an event.
The footage, primarily shared on Instagram, has sparked criticism, with many questioning the insensitivity of such an act in a state grappling with terrorism, kidnapping, poverty, and a high number of out-of-school children.
The video, which lasts one minute and nine seconds, was shared with a caption condemning the First Lady’s actions, labeling them as reckless and immoral. Given the dire socio-economic situation in Katsina, the accompanying text expressed outrage over the act.
PRNigeria, a leading Fact-Check platform in Nigeria, conducted a thorough investigation to verify the authenticity of the claims.
Footage of Katsina State First Lady Fatima Dikko Radda spraying dollars
The fact-checking process involved analysing the video and cross-referencing it with another clip showing Fatima Radda at a separate event, where she was donating ?2 million for cervical cancer screening in the state.
The analysis revealed a strong resemblance between the First Lady in both videos, confirming her presence at the wedding.
Furthermore, PRNigeria examined the background music in the controversial video, where praise singers could be heard extolling Fatima Radda in Hausa, reinforcing that the event was a family gathering.
PRNigeria performed a reverse image search using Yandex to further validate the claim and segmented the video for detailed scrutiny.
These steps confirmed that the video was indeed from a wedding that took place on Saturday, January 25, 2025, in Katsina.
Additional keyword searches and independent sources corroborated these findings.
Based on extensive fact-checking, PRNigeria has verified that Katsina State’s First Lady, Hajiya Fatima Dikko Radda, did spray dollars at her sibling’s wedding.
This confirmation has fueled further public discourse about the appropriateness of such actions, especially given the economic challenges faced by many citizens in the state.
The revelation has reignited debates about the display of wealth by public officials and their families, raising questions about leadership sensitivity in economically challenged regions. (By PRNigeria)
The Full Report: Fact-check: Did Katsina State’s First Lady, Fatima Radda, Spray Dollars at an Event? https://prnigeria.com/2025/02/13/katsina-first-lady-dollars/
The Anambra State government has taken a decisive step to combat the spread of illicit practices linked to ritualistic and fraudulent activities within religious spaces by sealing a controversial church in Nkpor, Idemili North Local Government Area.
The church, reportedly led by Pastor Onyebuchi Okocha, has been accused of engaging in activities associated with the dangerous and illegal practice known as “Oke Ite.”
This ritual, which has been tied to fraudulent schemes and human trafficking, was allegedly being conducted under the guise of religious worship.
Oke Ite, a term that refers to a concoction created by native doctors, is believed to be a form of ritual used for money rituals and other forms of spiritual manipulation. The concoction is typically prepared using human body parts, animal remains, and a mix of powerful herbs, all of which are combined in a mud pot. The practice is rooted in the belief that such rituals have the power to summon wealth or bestow significant financial rewards upon those who partake in them.
In recent years, Oke Ite has been exposed as a fraudulent practice, where unsuspecting customers, often in search of quick wealth, fall prey to native doctors and religious leaders who promise them unimaginable riches in exchange for performing ritualistic rites. Many of these practices are said to involve human sacrifice or the exploitation of vulnerable individuals, contributing to a growing problem of human trafficking and ritual killings in parts of Nigeria.
The Anambra State government, led by Governor Chukwuma Soludo, has been actively working to curb the prevalence of such fraudulent practices and restore order to the state’s religious and spiritual landscape. As part of this initiative, the government responded to reports of Oke Ite being performed in the ministry of Pastor Onyebuchi Okocha, which had raised dusts in the local community.
The closure of Pastor Okocha’s ministry in Amafor village, Nkpor, followed a thorough investigation launched by the Anambra State government.
The Special Adviser to Governor Soludo on Community Security, Ken Emeakayi, led a team of security personnel, including members of Operation Udo Ga-Achi, to the location to seal the premises.
The government’s decision to shut down the ministry was a response to a series of public petitions and disturbing revelations that came to light regarding Pastor Okocha’s activities.
Among these was a video circulating on social media, where the pastor, also known as “Aka na Asa Uchu” (translated as “the one who does things”), openly admitted to performing Oke Ite rituals.
The video, which featured Okocha speaking candidly about his involvement in the practice, triggered public outrage and prompted the government to take immediate action.
In his address to the press, Emeakayi explained that the closure was not an act of religious persecution but rather a necessary response to the dangerous and fraudulent activities taking place in the church.
He emphasized that the state government has no intention of infringing upon the rights of individuals to practice their religion but would not tolerate any practices that promote scams, deceit, and exploitation under the guise of spirituality.
As part of the government’s response, a full forensic investigation is underway to examine the contents and potential dangers of the liquids found in the ministry.
Emeakayi stated that the government would send samples of these liquids to forensic experts to determine their composition and assess any risks they may pose to public health and safety.
One of the most concerning elements of Pastor Okocha’s practice involved the use of a body of water known as River Bethsaida.
According to reports, the pastor had been using the river to perform rituals on individuals, which allegedly included bathing them naked.
The government has vowed to bring in environmental and health experts to examine the water and ascertain whether it poses a threat to those exposed to it. The concern over River Bethsaida stems from the possibility that the water may be contaminated with hazardous substances due to the rituals performed at the site.
While the church leader claimed that these practices were beneficial to his followers, there was no scientific evidence to support such claims. As a result, the government has made it clear that it will not tolerate any activities that put the health and well-being of the public at risk, especially when those involved are vulnerable or uninformed about the dangers.
The closure of the church has sparked mixed reactions from the local community and the wider public. Many residents of Nkpor and surrounding areas have expressed relief that the government has taken swift action to address the allegations of ritualistic practices.
Some have described the activities of Pastor Okocha as harmful, stating that they had long suspected that something was amiss but had been too afraid to speak out.
Others, however, have raised concerns about the potential negative impact on religious freedom in the region.
They argue that the state government should be cautious in its approach to policing religious practices and that the closure of the church may infringe on the rights of individuals to worship freely. They assert that there should be a clear distinction between legitimate religious practices and fraudulent activities masked as spirituality.
Nevertheless, many citizens are applauding the government’s stance against fraudulent religious practices, particularly those linked to the dangerous Oke Ite ritual. Some have called for more extensive measures to be taken to eradicate such practices, with some even urging the government to investigate other churches and ministries in the state that may be involved in similar activities.
The sealing of the church has underscored the importance of security agencies in the fight against ritualistic practices in Anambra State.
In recent months, the government has made significant strides in addressing security concerns, especially those involving ritual killings and other forms of violent crime linked to spiritual practices.
Ken Emeakai, in his role as the Special Adviser on Community Security, has been instrumental in organizing security operations to monitor and eliminate fraudulent religious practices.
Operation Udo Ga-Achi, the task force deployed to the site, has been actively involved in ensuring that these illegal activities are promptly investigated and halted.
The government’s approach has involved a combination of law enforcement, public awareness campaigns, and community engagement to tackle the root causes of these practices.
The decision to involve forensic experts in the investigation of River Bethsaida and the liquids found at the ministry highlights the government’s commitment to using science and technology in its efforts to address spiritual and health risks. By relying on expert analysis, the government hopes to provide definitive answers about the nature of the practices and the potential dangers they pose to public health.
The sealing of Pastor Okocha’s ministry is just one of the many steps the Anambra State government plans to take in its ongoing fight against fraudulent spiritual practices and rituals. While this incident highlights the growing problem of ritualistic crime, it also serves as a reminder of the need for continued vigilance and proactive measures to ensure that the safety and well-being of citizens are not compromised by unscrupulous individuals seeking to exploit their desperation for wealth and success.
Governor Soludo has called on members of the public to remain vigilant and report any suspicious activities related to ritualistic practices. He emphasized the importance of community involvement in identifying and addressing such issues before they spiral out of control. Additionally, the government has vowed to continue its support for law enforcement agencies, ensuring that they are well-equipped and well-trained to handle the complex nature of these crimes.
In conclusion, the sealing of Pastor Onyebuchi Okocha’s ministry in Nkpor serves as a clear message that the Anambra State government is committed to rooting out fraudulent practices that exploit vulnerable individuals under the guise of religion.
The closure of the church marks a significant milestone in the ongoing efforts to promote transparency, accountability, and security in religious institutions throughout the state.
Moving forward, the government will continue to monitor and investigate any further allegations of ritualistic crime to protect the people of Anambra and ensure that they are not deceived or harmed by those who seek to exploit their faith. (Geencee Blog)
The National Agency for Food and Drug Administration and Control has uncovered two warehouses stocked with expired drugs at No. 269, Sam Mbakwe Road (formerly Faulk’s Road), Aba.
This was made known in a statement shared by the agency on X (formerly Twitter) on Sunday.
According to reports, some suspects managed to remove several cartons of expired but relabeled drugs before security reinforcements arrived.
The statement said, “#AbaUpdates Two warehouses at No. 269, Sam Mbakwe Road (formerly Faulk’s Road), Aba, stocked with expired drugs, have been uncovered.
“During the raid, it was discovered that suspects had removed some cartons of expired but relabelled drugs before security reinforcements arrived.”
In a related operation at Umumeje, Umuocheala, Osisioma LGA, NAFDAC seized 140 tonnes of expired drugs. This figure does not include additional products confiscated from drug shops at the Ariaria International Market.
During the crackdown, NAFDAC officials collected 178 drug samples, which will undergo laboratory analysis to determine their composition and potential health risks.
The statement added, ‘From the warehouse at Umumeje, Umuocheala, Osisioma LGA, 140 tonnes of expired drugs were evacuated—excluding products seized from drug shops at Ariaria International Market.
“A total of 178 drug samples collected during the operation will undergo laboratory analysis.”
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