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Nigeria’s inflation rate hits 28.2% in November – NBS

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Nigeria’s inflation rate hits 28.2% in November – NBS
National Bureau of Statistics (NBS)
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The National Bureau of Statistics (NBS) on Friday said Nigeria’s  headline inflation rate increased to 28.2 per cent in November showing a 0.87 per cent points increase over the 27.33 per cent recorded in October.

The NBS noted that the November 2023 rate was 6.73 per cent higher than what was recorded in November 2022.

The bureau stated this in its Consumer Price Index (CPI) and Inflation Report for November released in Abuja.

In November 2022, it said  the headline inflation rate stood at 21.47 per cent.

It added that the increase in the headline index for November 2023 on a year-on-year basis and month-on-month basis was attributable to increases in items in the basket of goods and services at the divisional level.

Increases were observed in food and non-alcoholic beverages, housing, water, electricity, gas, and other fuels, clothing and footwear, and transport.

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There were increases also in furnishing, household equipment and maintenance, education, health, miscellaneous goods and services, restaurants and hotels, alcoholic beverage, tobacco and kola, recreation and culture, and communication, it stated.

The NBS stated also that on a month-on-month basis, headline inflation rate in November was 2.09 per cent, which was 0.35 per cent higher than the rate recorded in October at 1.73 per cent.

“This means that in November, the rate of increase in the average price level is more than the rate of increase in the average price level in October,’’ it stated.

It added that the percentage change in the average CPI for the 12 months ending November 2023 over the average of the CPI for the previous corresponding 12-month period was 24.01 per cent.

“This indicates a 5.64 per cent increase compared to 18.37 per cent recorded in November 2022,’’ it stated.

The report indicated that food inflation rate in November increased to 32.84 per cent on a year-on-year basis, which was 8.72 per cent higher compared to the rate recorded in November 2022 at 24.13 per cent.

“The rise in food inflation on a year-on-year basis is caused by increases in prices of oil and fats, bread, cereals, fish, potatoes, tubers, fruits, meat, vegetables, coffee, tea and cocoa,’’ it stated.

It added that on a month-on-month basis, the food inflation rate in November was 2.42 per cent, which was a 0.51 per cent increase compared to the rate recorded in October 2023 at 1.91 per cent.

“The rise in food inflation on a month-on-month basis was caused by an increase in the average prices of bread and cereals, oil and fat, meat, coffee, tea and cocoa, potatoes and other tubers.

“All items, less farm produce and energy or core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 22.38 per cent in November on a year-on-year basis.

“This increased by 4.39 per cent compared to 17.99 per cent recorded in November 2022.

“The exclusion of petrol is due to the deregulation of the commodity by removal of subsidy,’’ the NBS stated.

It noted that the highest increases were recorded in prices of transportation by road and by air; medical services, actual and imputed rentals for housing, pharmaceutical products and accommodation.

The NBS said on a month-on-month basis, the core inflation rate was 1.53 per cent in November 2023.

“This indicates a 0.14 per cent rise compared to what was recorded in October 2023 at 1.39 per cent.”

“The average 12-month annual inflation rate was 20.35 per cent for the 12 months ending November 2023; this was 4.66 per cent points higher than the 15.69 per cent recorded in November 2022,’’ it stated.

It added that on a year-on-year basis, urban inflation rate in November was 30.21 per cent, which was 8.13 per cent higher than the 22.09 per cent recorded in November 2022.

“On a month-on-month basis, the urban inflation rate was 2.31 per cent in November representing a 0.41 per cent increase compared to October 2023 at 1.81 per cent,’’ it added.

The report said on a year-on-year basis in November, inflationary rate in rural areas was 26.43 per cent, which was 5.55 per cent higher compared to the 20.88 per cent recorded in November 2022.

“On a month-on-month basis, the rural inflation rate was 1.99 per cent, which increased by 0.31 per cent compared to October 2023 at 1.67 per cent,’’ it stated.

On states’ profile analysis, the report showed that all- items inflation rate on a year-on-year basis in November, was highest in Kogi at 33.28 per cent, followed by Lagos at 32.30 per cent, and Rivers at 32.25 per cent.

The slowest rise in headline inflation on a year-on-year basis was recorded in Borno at 22.47 per cent, followed by Katsina at 24.91 per cent, and Plateau at 25.53 per cent.

The report added that in November 2023, all-items inflation rate on a month-on-month basis was highest in Kano at 3.55 per cent, followed by Kebbi at 3.34 per cent, and Borno at 3.24 per cent.

“Taraba was at 0.74 per cent, followed by Anambra at 1 per cent, while and Enugu State at 1.18 per cent, recorded the slowest rise in month-on-month inflation,’’ the NBS stated.

The report said on a year-on-year basis, food inflation was highest in Kogi at 41.29 per cent, followed by Kwara at 40.72 per cent, and Rivers at 40.22 per cent.

“ Bauchi at 26.14 per cent, followed by Borno at 27.34 per cent and Jigawa at 27.63 per cent recorded the slowest rise in food inflation on a year-on-year basis.,’’ it stated.

The report showed, however, that on a month-on-month basis, food inflation was highest in Cross River at 4.37 per cent, followed by Edo at 3.95 per cent, and Rivers at 3.91 per cent.

Anambra at 0.63 per cent, followed by Oyo at 0.91 per cent and Bauchi at 1 per cent, recorded the slowest rise in inflation on a month-on-month basis, the NBS stated also.

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Enugu Wins Infrastructure, IGR Awards at BusinessDay States Competitiveness Awards 2025

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…Mbah: Enugu has a lot of success stories to tell in 3 years

Enugu State has shone brilliantly at the BusinessDay States Competitiveness and Investment Readiness Awards (SCIRA) 2025, carting home the Infrastructure Development Competitiveness Award and Outstanding Performance in Internally Generated Revenue (IGR) Award.

Governor Peter Mbah, represented by the Commissioner for Works and Infrastructure, Engr. Ben Okoh and the Executive Chairman, Enugu State Internal Revenue Service (ESIRS), Mr. Emmanuel Nnamani, received the awards on behalf of the state government in Abuja, Thursday night.

Presenting the awards, the Publisher/CEO of BusinessDay Media Limited, said Governor Mbah had impacted public infrastructure in a way that goes beyond just playing politics.

“In the last six months, I have had the opportunity of travelling to Enugu three times. The first time I visited in January, my taxi driver was eager to take me around. That caught my imagination. I began to ask questions and I began to look around.

“One thing I found especially quite interesting was that Governor Mbah did not set aside everything that he met, which could have been a waste of public resources. He looked at what is good and he rebuilt them; the ones that were not completed, he completed them.

“Two things that struck me because I had to ask a question, where does he get the money? I saw good roads, and I don’t mean good roads in the major highways, I mean good roads even in the communities that are far away from the prime areas of the state capital, Enugu.

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“I thought that that is a very good example of a private sector person, who knows what to do with resources, because if you use resources well, you get more from little and that is what the governor has done. And for that, Governor Mbah is receiving this award. He has impacted public infrastructure in a way that goes beyond just playing politics,” he stated.

Speaking, Engr. Okoh thanked BusinessDay for recognising the Mbah Administration’s efforts at rewriting the narrative of the state, stressing that Enugu had a lot of success stories to tell in just three years.

He, however, described the awards as a motivation to do more, noting, “as the governor always says, you ain’t seen nothing yet.”

Okoh went on to reel out some of the achievements of the administration, saying that “Enugu State has witnessed an unprecedented infrastructural revolution, the type we have never seen since the advent of this present democracy in 1999.”

“Projects that were inherited even from governments that left office in 2007- for instance, the International Conference Centre, Mbah has completed it. Hotel Presidential, the flagship hotel of the old Eastern Region, and the Nigergas Company, which has remained moribund for over 30 years, have been revived.

“Being the commissioner for Works and Infrastructure in the state, I can stand here confidently to say that no government since 1999 achieved what Governor Mbah has achieved in three years.

“I can say that in terms of road construction, in just three years, we have done far more than double what any other government did in eight years. No government in Enugu since 1999 did up to 600Km of roads in eight years.

“Under Governor Mbah, we have 267 smart schools across the state and 260 Primary Healthcare Centres to our credit.

“We are developing the New Enugu City, a world-class smart city. The present Enugu City is about 14,000 hectares, while the New City is approximately 10,000 hectares. To put this in perspective, the New Enugu City is almost the same size as Paris, Milan or Barcelona, making it one of the largest planned urban developments in Africa.

The New Enugu City is also larger than Manchester or the entire Phase One of the Federal Capital City, Abuja, which comprises the districts of Asokoro, Maitama, Maitama Extension, Wuse I (Zone 1 – 7), Wuse II, Garki I (Area 1 – 11), Garki II, the Central Business District, Three Arms Zone, Guzape I, and Guzape II.

This is the first time a state in Nigeria would be undertaking an integrated infrastructure development, which is what we have in the FCT where all the facilities in the modern city are underground, and telecommunications lines- the fibre optics, the electrical cables, water pipes, everything is underground. It is not just a vision; the projects are already ongoing.

“There is no particular sector that Governor Peter Ndubuisi Mbah has not touched, be it tourism, security, agriculture, education or even transport sector where the administration floated Enugu Air, built five ultramodern transport terminals and launched over 150 CNG buses,” he said.

It is also recalled that the Mbah Administration has disrupted the state’s IGR space, where he used reforms and technology to grow the state’s IGR exponentially from N26.8bn in 2022 to N37.4bn in 2023, N180.5bn in 2024, and N406.7bn in 2025, with tax revenue accounting for just N51.5bn or 12.6 per cent of the 2025 IGR proceeds.

Meanwhile, BusinessDay is Nigeria’s leading business newspaper and the SCIA recognises and celebrates states that have demonstrated exceptional performance in governance, economic development, infrastructure delivery, investment promotion, and the creation of an enabling environment for businesses and citizens to thrive.

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Enugu Lawyer rejects paternity claim after DNA Test results

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A legal practitioner, Barrister Chinedu Ifeanyi Iloeje, has publicly declared that a man previously believed to be his son is not biologically related to him, following the outcome of a DNA test.

In a public notice published in a newspaper, Iloeje stated that he was allegedly misled by the man’s mother into believing that the individual, identified as Chinedu Francis Iloeje, was his biological son.

According to the notice, DNA testing conducted on the matter established “beyond any doubt” that the man is not his son.

The lawyer further clarified that he never legally adopted the individual, despite the latter bearing the name Chinedu Francis Iloeje.

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Barrister Iloeje explained that the man’s original name is Chinedu Francis Onwualu and stressed that he has no legal or biological relationship with him.

The notice also informed members of the public, the Greater Iloeje Family, the Umuodu Village Union, Uwani Amokwe Town Union, St. Theresa’s Catholic Church Amokwe, Udi Local Government Council, and other stakeholders of his declaration.

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He stated that the disclaimer was made in good faith and while of sound mind, urging the public to take note of the clarification.

The publication has sparked discussions on paternity disputes and the increasing reliance on DNA testing to resolve questions of biological parentage.

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Obi donates N10 million to burnt hospital in Enugu

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Mr Peter Obi presenting a cheque of 10 Million Naira to assist in the renovation of the burnt Mother of Christ Specialist Hospital, Enugu State.
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Presidential candidate of the Nigeria Democratic Congress (NDC) in the forthcoming 2027 general election, Mr. Peter Obi, has donated N10 million to assist in the renovation of the burnt Mother of Christ Specialist Hospital, Enugu State.

The former Anambra State governor handed over the cheque for the donation to the hospital management team when he visited the hospital yesterday.

The hospital belongs to the Reverend Sisters of the Immaculate Heart of the Catholic Church.

Mr Peter Obi inspecting the burnt hospital

Addressing the hospital management team after inspecting parts of the burnt hospital, the NDC presidential candidate commended them for their efforts in contributing to healthcare delivery services.

Telling them that even though they might feel that they were not being appreciated for what they were doing, Obi, however, described healthcare delivery services and education as among the “most critical needs of society” and urged them not to relent in what they were doing.

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Accompanied during the visit by his Chief of Staff, Commissioner for Housing, as well as Special Adviser on Media when he was Anambra State governor, Prof. Stella Okunna, Prof. Patrick Obi, and Dr. Valentine Obienyem respectively, Obi assured the hospital management team that he would continue to support them.

Part of the hospital gutted by the inferno and inspected by Obi was the Children’s Ward.

Expressing gratitude on behalf of the hospital management, the Chief Medical Director of Immaculate Heart Hospital, Nkpor, Anambra State, Rev. Sister Dr. Maria Nkiruka Okafor, eulogised Obi for his sacrifices and selfless contributions to humanity.

Disclosing that Obi had already credited the hospital’s accountant with the N10 million donation and that he was even the person who called her to inform her that he had received the sad news of the inferno and promised to donate towards the renovation, Rev. Sister Okafor described him as a rare politician.

She prayed that God would grant him his ambition to become President of the country and enable him to achieve his desire to transform it.

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