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Hope dims as Nigeria’s inflation rate rises to 28.9%

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The National Bureau of Statistics (NBS) has declared that Nigeria’s annual inflation rate stands at 28.92 per cent in December 2023 from 28.20 per cent in November.
This was disclosed in the NBS December 2023 Consumer Price Index (CPI) which was released on Monday afternoon.

The CPI measures the rate of change in the prices of foods and services. Before Monday’s release, the country’s inflation rate was at 28.20 as of November 2023.
The statistics office in the release on said the December 2023 headline inflation rate increased by 0.72 per cent compared to the November 2023 headline inflation rate.

The NBS said on a year-on-year basis, the headline inflation rate was 7.58 per cent points higher compared to the rate recorded in December 2022, which was 21.34 per cent.

“This shows that the headline inflation rate (year-on-year basis) increased in December 2023 when compared to the same month in the preceding year (i.e., December 2022),” it said.

Furthermore, the bureau said on a month-on-month basis, the headline inflation rate in December 2023 was 2.29 per cent, which was 0.20 per cent higher than the rate recorded in November 2023 (2.09 per cent).

This, it said, means that in December 2023, the rate of increase in the average price level is more than the rate of increase in the average price level in November 2023.

According to the report, the food inflation rate in December 2023 quickened to 33.93 per cent on a year-on-year basis, 10.18 per cent points higher than the rate recorded in December 2022 (23.75 per cent).

In recent years, food prices have been on the rise across Nigeria. The situation deteriorated due to the impact of government policies such as the removal of subsidies on petrol, among others.

He also directed that “all matters pertaining to food & water availability and affordability, as essential livelihood items, be included within the purview of the National Security Council.”

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Former NBC DG, Prof. Tom Adaba, Passes Away at 84

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Late Tom Adaba

Former Director-General of the National Broadcasting Commission (NBC), Professor Tom Adaba, has passed away at the age of 84.

According to reports, he died peacefully on Saturday in Abuja.

Chief Adinoyi Joe Anivasa, Secretary of the Egbira Elders Forum, confirmed the news, stating, “I feel sad to inform you that our elder and leader, Prof. Tom A. Adaba, has answered the call of nature this morning. Further details about his burial arrangements will be communicated later.”

Born on July 2, 1941, Prof. Adaba made significant contributions to Nigeria’s broadcasting industry. Between 1988 and 1992, he became the first Nigerian to serve as President of the African Council for Communication Education.

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Osun LG Election Holds Amid AGF, Police Opposition

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Despite calls for suspension from the Attorney General of the Federation (AGF) and the Nigeria Police Force, the Osun State local government election proceeded as scheduled on Saturday.

Governor Ademola Adeleke voted in Ede North Local Government Area, describing the process as peaceful and urging residents to exercise their franchise.

The AGF, Lateef Fagbemi, cited a Court of Appeal ruling allegedly reinstating sacked local government chairmen, while the police warned of potential security threats.

However, the Osun State government insisted on holding the election, emphasizing its commitment to obeying a court directive. The opposition All Progressives Congress (APC) boycotted the polls.

Voting took place under tight security, with minimal commercial activity observed in Osogbo, the state capital.

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Buhari Snubs IBB’s Book Launch Over 1985 Coup – APC’s Vatsa

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Muhammadu Buhari

A chieftain of the All Progressives Congress (APC) and former Commissioner for Information, Jonathan Vatsa, has indicated that Firmer President Muhammadu Buhari’s absence at the public presentation of former military ruler General Ibrahim Babangida’s autobiography, The Journey of Service, held in Abuja on Thursday was not surprising.

Speaking to journalists in Minna on Saturday, Vatsa suggested that Buhari’s no-show was a result of unresolved bitterness over the 1985 coup, in which Babangida overthrew him and subsequently detained him.
According to Vatsa, Buhari may still harbor resentment, especially over being denied the chance to bid his late mother farewell while in detention.

“It Would Have Been the 9th Wonder of the World If Buhari Had Attended”

Vatsa claimed that Buhari’s absence was expected, given the deep-seated history between the two former leaders.

“The memory of the ‘mother of all betrayals’ has not left him. It would have been the ninth wonder of the world if Buhari had attended that book launch,” he said.

The APC chieftain also linked Buhari’s perceived neglect of Niger State during his eight-year presidency to his history with Babangida.

“The whole world knows that Niger State was made a scapegoat by Buhari because of IBB. For eight years, he did not pay any serious official visit to the state, and not a single federal project was executed here. The Baro Port project was abandoned, and federal roads across the state were left in disrepair,” Vatsa alleged.

He claimed that despite the overwhelming votes Buhari received from Niger State in 2015 and 2019, the state was sidelined due to the personal history between the former presidents.

“When two elephants fight, it is the grass that suffers. Niger State paid for the sin of one man,” he lamented.

When asked for his opinion on the contents of IBB’s autobiography, Vatsa said he would reserve his comments until he has read and digested the book fully.

“There are certain things I expected to see in the book. Once I am done reading, I will invite you all for my comments,” he stated.

The book launch attracted several high-profile attendees, including President Bola Tinubu, former presidents Olusegun Obasanjo, Goodluck Jonathan, and Yakubu Gowon, as well as former military head of state Abdulsalami Abubakar.
Other dignitaries included former Ghanaian President Akufo-Addo, former Sierra Leonean President Ernest Koroma, and ex-vice presidents Atiku Abubakar, Yemi Osinbajo, and Namadi Sambo, alongside traditional rulers and state governors.

Buhari’s absence, however, remained a major talking point, reinforcing speculations that the 1985 coup remains a sore point in Nigeria’s political history.

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