agabusta:


I thought you said statistics show insecurity in the SE is a farce

Terror Sponsors Behind Air Crash That Killed Former Nigerian Chief Of Army Staff, Attahiru, Claims Retired General Ali-Keffi

Nigerian President Bola Tinubu has been asked to probe the air crash that killed former Chief of Army Staff, Lt Gen Ibrahim Attahiru and ensure that those involved in the incident are brought to justice.

Former General Officer Commanding (GOC) 1 Division of the Nigerian Army, Maj Gen Danjuma Ali-Keffi (rtd), who made the call claimed that the crash was linked to terror sponsors.

SaharaReporters reported on May 21, 2021, that Ibrahim Attahiru, the Chief of Army Staff, had died in a plane crash.

He died a few months after his appointment.

Later, the Defence Headquarters, Abuja, stated that the crash of the Nigerian Air Force jet which killed the Chief of the Army Staff, Lt Gen Attahiru Ibrahim, and 10 other officers was due to bad weather.

The DHQ in a release added that the then-Chief of Defence Staff, Gen Lucky Irabor, had ordered an investigation into the incident.

It occurred near the Kaduna International Airport in bad weather. Attahiru, one of the victims, was on his way to Kaduna to attend a passing-out parade for army recruits.

The Nigerian Army had listed the officers, who died in the crash, to include Attahiru, Brig Gen. M. I. Abdulkadir, Brig. Gen. Olayinka, Brig. Gen. Kuliya, Maj. L.A. Hayat, Maj. Hamza, and Sgt. Umar. The crew members were Flt. Lt. T.O. Asaniyi, Flt. Lt., A.A. Olufade, Sgt. Adesina, and ACM Oyedepo.

But speaking in an interview with THISDAY, Ali-Keffi, decried that the crash was swept under the carpet as the full report of the crash investigation was not made known, while insisting that the crash was linked to terror sponsors.

He said, "Let me put it succinctly, late General Attahiru showed strong commitment to end the insurgency ravaging the northern parts of the country."

Ali-Keffi said Attahiru devised the strategy to end terrorism in the North, part of which was infiltration of terror groups and the instigation of a crisis among terror leaders, which culminated in the elimination of Boko Haram leader, Abubakar Shekau, by a rival terror group, Islamic State for West African Province (ISWAP).

Part of the strategy was to also cut off the oxygen of terrorism, including funding and logistics, and to take down terror financiers, Ali-Keffi stated.

Ali-Keffi, who had been billed to receive the late army chief, as GOC 1 Division in Kaduna, pointed to the sudden change of time for Attahiru’s trip to Kaduna, the change of aircraft, change of airport of landing, from the military airstrip to the Kaduna International Airport, his landing in a turbulent, stormy weather, and the ear-shattering explosion that occurred before the crash.

He also pointed to the fact that there was no crater or impact on the crash area, noting that the bodies of the passengers were flung out of the aircraft and burnt beyond recognition long before the aircraft came down, a strong indication that there was an “explosion”.

“The Operation Service Wide (OSW), a presidential task force, which I was commanding at the time of Late General Attahiru’s headship of the Nigerian Army, had as its primary mandate to dismantle the terrorism financing network in order to aid the fight against terrorism and insurgency.

“Late General Attahiru appointed me as GOC 1 Div (whilst still being the Commander of OSW) to enable me effectively discharge the task (OSW). It is important to note that OSW was not just an investigative outfit but also carried out covert operations to capture, or kill insurgents’ leaders and key fighters in the field; destroy insurgent camps and facilities, as well support the military and other security agencies’ operations.

“Furthermore, having command of 1 Div served as cover for me to carry out the task (OSW) without attracting unnecessary attention or making people aware of the existence of the outfit (OSW).”

Ali-Keffi continued, “About 2100 hrs on Thursday 20 May 2021, I spoke on phone with the Chief of Staff (COS) to the late COAS regarding their impending trip to Kaduna the following day (21 May 2021). I had earlier spoken with General Attahiru on the same issue. We ended our conversation on the note that the late COAS and entourage would come by flight at about 1000 hrs the following day.

“About 0630 hrs the following morning, I called the COS to the late COAS to confirm if their travel plan was as we discussed the night before, as I needed to make arrangements for the Mosque that the COAS would attend Jummu’at (Friday) prayers.

“The COS informed me that there was a change of plan. He said after we finished speaking last night, they received a message that the late COAS was to attend a meeting either at the Honourable Minister of Defence (HMOD) office or at the Presidential Villa at about 1000 hrs on Friday 21 May 2021 and that the late COAS was to attend in person and not send a representative.

“It is important to note that the late COAS’ trip to Kaduna was part of his visit to Zaria to attend the Passing Out Parade at the Depot NA slated for Saturday 22 May 2021.

“It is worth noting that the movement of service chiefs out of station (Abuja) is with the prior knowledge of the Chief of Defence Staff (CDS), the Honourable Minister of Defence (HMOD), and the presidency.

“So, why was a meeting scheduled for about the same time that the late COAS was to have departed for (or arrived) Kaduna and why the insistence that he (COAS) should not be represented?

“In any case, the COS informed me that in view of the meeting, they would depart the Flag House (official residence of the COAS) at about 1530 hrs (after attending the meeting and also after the Jummu’ at prayers) for the airport.

“They expected to arrive the airport at about 1600 hrs, board the aircraft at about 1610 – 1615 hrs and depart for Kaduna. At about 1600 hrs, I was informed that they had arrived the Presidential Wing of the Airport. I then set off from the Stallion House (official residence of the GOC) with my entourage in a convoy and arrived the Air Force Base at about 1615 hrs.

“For reasons that I cannot understand till today, the flight was delayed for over an hour and did not take off until 1730 hrs or thereabout. The reason for the delay, as I was informed, was that there was issue with the aircraft that was initially assigned for the mission (to convey the COAS and his entourage) and that it had to be changed.”

Ali-Keffi also disclosed, “Meantime, there was meteorological alert that Kaduna airspace was going to experience heavy rainfall accompanied with storm (wind shear) and it was advised. Already, the cloud had formed in Kaduna, which was visible to us at the airport.

“As a matter of fact, the cloud was so thick, which was indicative of a massive storm. I began to nurse doubts about the flight. At some point, I voiced my doubts to Air Commodore Iyamu and Air Commodore Ilo, who were with me to receive the COAS.

“I even suggested that they should advise Abuja of weather condition with a view to having the flight cancelled. At that point, I was informed that the aircraft was airborne (at about 1745 hrs). I became concerned as to whether the aircraft would be able to land at the airport in such a heavy rainfall, storm (the rain had started falling then).

“Thus, I was not surprised when Air Commodore Ilo informed me that we had to go to the Civil (International Airport) as the NAF runway was not long enough to enable the aircraft to land under the atrocious weather condition. We then set off for the International Airport but at a snail speed due to the heavy rainfall, which was accompanied with shale (ice particles).”

The former GOC further said, “When we got to the vicinity of the airport, there was a thunderous sound, which I thought was the sound of thunder. We had earlier sited what I believed was the aircraft descending to land on the runway. When we turned the bend to enter the tarmac, the thought on my mind was that the aircraft had touched down and was taxing to the parking area.

“I couldn’t see any aircraft on the runway. I frantically looked around and by the far side of the runway there was a fireball. It was the aircraft conveying General Attahiru! We got out the vehicles, crossed the runway and approached the burning aircraft. Firefighters were on hand to put out the blaze. At some point, we had to pull back due to the fear of exploding cylinders.

“We later recovered the corpses of the 10 passengers on board the ill-fated plane far from where the plane wreckage was. Apparently, their bodies, which were on fire, were flung from the aircraft before it came down (already in flames). Furthermore, the aircraft (or what was left of it), at least what I could recollect, was on a relatively flat grassland.

“There was no crater. This was indicative of a mid-air explosion. So, what caused the aircraft to explode? I wonder what the Air Safety and Accident Investigation Bureau report says about the incident.”

Ali-Keffi further queried, “Was the flight deliberately delayed in order to be caught up in the rainstorm? Was the aircraft sabotaged, which caused it to explode mid-air? Was the explosion caused by explosives? Was a bomb planted in the aircraft or contained in a parcel, which a passenger unknowingly (or knowingly) carried?”

Ali-Keffi had earlier written to Tinubu over his arrest, detention and compulsory retirement, following the revelations of a presidential investigative taskforce that he headed. The inquest had exposed the involvement of senior government officials, a top banker, and top military brass in terrorism financing.

He was head of OPS, which was set up by former President Muhammadu Buhari to investigate those allegedly involved in terrorism financing.

Ali-Keffi said he headed a presidency-instituted Board of Inquiry (BOI) convened by Major General BM Monguno (rtd), the former National Security Adviser (NSA), which sat in the Office of the National Security Adviser (ONSA) for five weeks, from early January to late February 2020.

He stated, “I was the president of the BOI, with members/secretary drawn from the NCS, NIS, DSS, NIA, ONSA, NFIU. The Board of Inquiry, which largely conducted its work as an investigative body was tasked to investigate circumstances surrounding the illegal smuggling of petroleum products contained in 168 oil tankers into Benin Republic through a single smuggling route in Ilesa Barbara in Kwara State.”

Ali-Keffi said the BOI went further to uncover 295 oil tankers that conveyed Premium Motor Spirit (PMS), with the major smugglers identified.

He said, “The petition stated that the BOI made a significant discovery regarding the relationship between the smuggling racket, the terrorism besetting the North-east, the banditry/kidnapping for ransom, which was at its formative stage in the North-west and parts of North-central geo-political zones, the illegal mining of minerals in the North-west and North-central, and large scale laundering of mostly funds meant for counterterrorism/insurgency operations that was ongoing mostly in the northern regions of the country.

“A syndicate, which had extensive network in the country as well as being affiliated to international criminal network, was as the centre of moving finances for terrorism for other criminal activities stated above.”

Ali-Keffi revealed, “The most worrisome aspect was that some of the individuals involved in terrorism financing of Boko Haram terrorists and who were also involved in procurement and movement of arms and ammunition for BH and other criminal organisations had links with the military.

“It was, thus, apparent that terrorism and insurgency in the North-east, North-west, and North-central were a criminal enterprise and were largely undertaken with profit rather than any ideology, as the primary motive.

“Thus, we at the BOI arrived at the obvious conclusion that progress cannot be achieved except the financiers, collaborators, supporters and the leadership of the terrorists and insurgents groups are identified and the network dismantled.”

The Nigerian Air Force (NAF) constituted an audit committee four days after the Kaduna air crash that claimed the lives of Attahiru and other officers to investigate the incident. The then Chief of the Air Staff (CAS), Air Marshal Oladayo Amao, formed a team of serving and retired senior officers to conduct a safety audit of all NAF operational and engineering units.

Air Force Spokesman, Air Vice Marshal Edward Gabkwet, said in a statement at the time of the crash that the committee was to, among others, analyse safety reports from operational and engineering units, conduct safety evaluation of NAF units, and recommend safety measures.

It said the team would also interact with unit operational and technical personnel for views, observations, and contributions on safety measures.

Chaired by Air Vice Marshal Abraham Adole, then Deputy Theatre Commander, Operation HADIN KAI, the committee was to submit its report not later than June 18, 2021. The Accident Investigation Bureau (AIB) in collaboration with Nigerian Air Force also submitted an interim report on the Air Force aircraft, King Air 350.

Presenting the report to Amao, former Chief Executive Officer of AIB, Akin Olateru, said the report contained 27 findings and eight recommendations for immediate implementation.

Although the statement, jointly signed by Gabkwet and his AIB counterpart, Tunji Oketunbi, did not contain the details of the recommendations, the statement said the report was organised into three sections.

It said, “The submitted report is organised into three sections, namely, the information obtained in the course of the investigation; analysis of data collected in view of the board’s terms of reference and the conclusion, which covers the initial findings and immediate recommendations.”

The statement also said the final report would contain more detailed information. But it was not made public.

When contacted, Defence spokesman, Brig Gen Tukur Gusau, promised to react to Ali-Keffi’s claims but referred the reporter to the army.

“Let me see if I can get a response. You should also call the army,” he said.

Spokesmen for the Army and Air Force were not forthcoming with any response at the time of filling the report.

successmatters:
This is how a lot 9f Ch8naza Phillip story starts, if you refuse, they will put gun in your hands and you become a kidnapper.

Melagros:
Every member of the society including the police wants to be rich at all cost

Meagainstthem:
They should kill them ASAP before some people come to their defense

Testiebobo:
I'hv being trying to stop my mum from consuming excess beef in her food including her addiction to indomie, but to no avail she is not gonna stop. She can eat five pieces of beef in a small plate of rice at a time. And she is not the type that use to stress herself or engage in any exercise, too much of indomie and beef is excess fat. How do i advice her as her child?

DanseMacabre:
Mtchew. Nothing's gonna happen. They'll only be cautioned and redeployed elsewhere to continue wreaking havoc. Sorrow, tears and blood their regular trademark.

jmoore:
98% of kidnappings in Aba are done by members of Nigeria police, RRS is the major player.

immortalcrown:
Una just wan delete those ones from ranks or from office.

Na only two of them be criminals?

HonNL:


Annet Mugabo

Blackfire:
This was how boko started, not acting because of region or religion...until it is too late



For this country everybody will chop breakfast

aceman88:
"Chinaza Philip" has abandoned his cows inside a thick evil forest and started tormenting well meaning Nigerians again. The security operatives should rise up to the occasion, please.

A yet-to-be-ascertained number of travellers have reportedly been kidnapped between Ekiti and Ondo States by some gunmen who laid siege on the road.

The incident, which SaharaReporters gathered, happened on Thursday evening was between Ikere Ekiti and Iju locations.

The victims were, according to several reports, travelling in two vehicles – a Toyota Corolla and a white Highlander when they were intercepted and marched into the bush.

A video of the incident seen by SaharaReporters on Saturday showed how the hoodlums riddled the vehicles with bullets.

As of the time of filing this report, it was not clear whether the kidnappers had contacted their family members for ransom.

Meanwhile, personnel of the Ondo State Amotekun and the Nigerian police, who were called for intervention, had already started tracking the kidnappers.

SaharaReporters’ efforts to speak with the Ondo State Police Command were unsuccessful as the command spokesperson, Funmilayo Odunlami, could not be reached on telephone.

SaharaReporters had only in December reported that gunmen also attacked the team bus conveying the players, coaches and staff of Sunshine Star Football Club, based in Akure, Ondo State, along the Ore -Benin Expressway.

SaharaReporters had gathered that the gunmen shot one of the team boys and injured several players and coaches of the team.

The team was travelling to Benin City, Edo State Capital to play a fixture against Bendel Insurance in the Nigerian Premier League.

Grupo:
Hello all,

Please I drilled a new borehole for my village house.

According to the geologist who did the survey, we'd get water at 65 meters. So I paid him to bring drillers to drill 65m well.

After the whole drilling and installation, and flushing of the well, I noticed that each time I pump the water, the well brings out dirty brown water for like 20 minutes before it starts bringing out clean water.

And the next time I pump the water, it repeats the same way. I have contacted the drilling company and they are not saying anything useful.

Please I will appreciate contributions from experienced people on how to navigate this challenge.

Please @mods, or the mod in charge of this section, kindly help me push this to the front page. I really need opinions.

Thanks.

Trophy12:
I don't like this kind of people with such shape of head, all they does is to retrogress the country.shior confuse being with head like coffin ⚰️

Nigeria is seeking $1.5bn aid from the World Bank to tackle the severe dollar shortage contributing to the decline of the naira.

“We’re hoping to get $1bn or $1.5bn from the World Bank” for budgetary support, Finance Minister Wale Edun said Wednesday to Bloomberg.

According to the minister, Africa’s largest economy may also issue a Eurobond in late 2024, adding that with the current economic reforms, the country deserves support.

Eurobonds, denominated in foreign currencies, offer Nigeria a mechanism to navigate its financial landscape amidst challenging economic conditions.

The minister said, “It is a matter of discussion at the moment, but we think we will get the support because we are continuing with our reforms.”

Nigeria has issued Eurobonds in the past to raise debt to fund infrastructure and boost its economy

In 2022, Nigeria entered the international debt markets with a $1.25bn Eurobond issuance, marking its eighth venture into this financial arena, according to the Debt Management Office.

Subsequently, in the following year, the country redeemed a $500m Eurobond issued in July 2013 as part of a dual-tranche of $1bn, held for a tenor of ten years at a coupon of 6.375 per cent per annum.

During a press conference in October 2023, at the World Bank/International Monetary Fund Annual meeting in Marrakech, Morocco, the minister mentioned that the $1.5bn World Bank loan would be coming with zero interest rate.

Nigeria is currently battling with about N87tn debt, which the International Monetary Fund said was “manageable,” but noted that the interest payment was high for the country.

The minister said the new World Bank loan would be used to finance development, disclosing that the facility would be disbursed to Nigeria very soon.

He said, “On the talks with the World Bank on $1.5bn budget support, that is correct. The World Bank is the number one multilateral development bank helping developing countries or funding developing countries, projects programs, and sectors.

“It has free money through the International Development Association. It is for the poorer countries and right now, I think we qualify as one of the countries that can borrow from the normal window of the World Bank funding, but also some concessionary IDA funding; and that means that effectively, the interest rate will be zero.”

Nigeria has nearly $7bn in forex forwards that have matured, a major concern for investors, but the Central Bank of Nigeria has promised to pay up to boost confidence in the foreign exchange market.

But the apex bank recently disbursed $2bn to settle a backlog of outstanding foreign exchange forwards, emphasizing its commitment to enhancing liquidity and stability in the foreign exchange market.

In the face of mounting economic challenges, Nigeria grapples with a budget deficit fueled by factors including soaring fuel subsidy costs, burdensome debt servicing, and restrained public spending.

The 2024 fiscal year budget stands at a hefty N28.7tn, accompanied by a deficit of N9.18tn, equivalent to 3.88 per cent of the nation’s Gross Domestic Product.

President Bola Tinubu emphasised that the current deficit is an improvement from the N13.78tn recorded in 2023, representing 6.11 per cent of GDP.

To address the deficit, President Tinubu outlined a multifaceted financing approach. This includes new borrowings totaling N7.83tn, N298.49bn sourced from privatisation proceeds, and a N1.05tn drawdown on multilateral and bilateral loans earmarked for specific development projects.

Africa’s largest economy is also confronted with persistent dollar shortages, increased demand for dollars, and speculative activities that have exerted pressure on the naira, leading to its devaluation.

The shortage of dollars has widened the gap between the official exchange rate and the parallel market rate, further impacting the street value of the naira.

Naira on Wednesday fell to a record low of N1,320 per dollar following strong demand on the parallel market.

The domestic currency depreciated 4.72 per cent to close at N878.57 to a dollar at the close of business, based on data from NAFEM where forex is officially traded.

Nbotee:


This is the truth about what they have done. Oga exposed the them without knowing. If you are saving, shouldn't it be the monies the govt claimed it was using to pay for the subsidy that it will no longer spend? How come you are taking money from private citizens and calling it savings?. They simply came up with a way to extort Nigerians more and made it seem like they did us a favour

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Federal Government will be saving N8tn annually from the fuel subsidy removal and exchange rate unification policies.

Oyedele spoke during a panel session at the Lagos Chamber of Commerce and Industry 2024 Economic Outlook and Budget Analysis.

He, therefore, said it was critical for the government to spend the amount saved from the two policies to ameliorate the suffering of the average Nigerian.

He said, “The Nigerian people made sacrifices as a result of the fuel subsidy removal of the government; that is N4tn savings a year. We did naira floatation. It is not perfect. We are also saving another N4tn. So we are having about roughly N8tn transferred from the private pockets of the people to the government.



“So, what we are saying to the government is — can we be intentional in spending this N8tn to make sure that it impacts the people most positively? Starting with the multidimensional poverty. why is it that more than 133 million people in Nigeria are living in multidimensional poverty? So these are the conversations we are having now. We want to build a platform where we can track how these monies are being spent.”

He added, “In the committee, we tried to look at the most pressing issues we face as a country — inflation, forex instability, lack of investments. One of our recommendations is for the government to suspend some taxes. We call them nuisance taxes because they frustrate people, and we can’t even see the money in government treasury.”

According to Oyedele, there is an urgent need to create digital opportunities for the teeming youthful population because Nigeria has enough capacity to generate $20bn annually from the technology sector.


Hinting on some of the recommendations the panel has made to the Federal Government, Oyedele said there was an urgent need to promote exports, including services and intellectual property because, “Before you start exporting goods, you can export services and intangibles.”

He also said that out of the $20bn diaspora remittances recorded in 2023, more than 90 per cent of the funds did not arrive Nigeria in foreign currencies because of existing loopholes which allow middlemen to divert the foreign currencies and pay the recipients of the funds in naira.

He added. “For example, just asking Nigerian companies and businesses to pay taxes in dollars is about $3.5bn annually, but we sat and thought about it, and wondered how the idea came about.

“How does it help us, that a Nigerian company will go to the market to go and look for the little dollars that is in Nigeria so it can use it to pay the government of Nigeria? So, just amend the law and you will take that pressure away.”


Also speaking, the Director General of the Budget Office, Ben Akabueze, expressed concern that the country’s penchant for operating budgets with room for deficit in the past three decades had left a debt profile that has raised concern.

Akabueze said, “In our current circumstance, we believe that our biggest fiscal challenge is raising public revenues. That is, the low public revenues against the background of the ever-increasing demand for public goods and services.

“For over two decades, we have been running deficit in our budget. These deficits have accumulated. They have been funded through debt consistently. The truth is that we haven’t paid back the debt. Now we are at a point where there are concerns about our debt. So we can’t continue with the deficit. The deficit for the 2024 budget is about 3.8 per cent of our GDP.”


Speaking further, Akabueze dismissed criticisms surrounding inordinate expenditure on the part of the government.

He noted that Nigeria was not spending enough and that emphasis should be placed on effective spending and not less spending.

He added, “Sometimes people ask — why don’t you cut expenditure? That’s not a feasible option. In the first place, we are not spending enough. If you look at our public expenditure to GDP ratio, it is below what it should be. So, spending less is not an option for us. Spending more efficiently — yes.”

On his part, the Chief Executive Officer of Financial Derivatives, Bismarck Rewane, said key economic challenges have continued to plague the Nigerian economy.

These challenges, according to him, include sub-optimal and non-inclusive growth, increasing income inequality, high poverty and unemployment rate, spiraling inflation, widening fiscal imbalances, and currency pressures.

He also noted that Nigeria’s inflation maintains its upward trend, largely driven by monetary and cost-push factors.

He said external debt service to export ratio shows the external sector is vulnerable.


Rewane also blamed lack of transparency and clear policy direction, lack of effective price discovery measure, capital controls and inefficiency, and high speculation/ arbitrage activities have been for the protracted forex crisis in the country.

Donchieli:


Source: https://saharareporters.com/2024/01/16/breaking-panic-loud-bang-linked-explosion-rocks-ibadan-southwest-nigeria

Shell Plc agreed to sell its Nigerian onshore oil assets to a consortium of local companies for more than $1.3 billion.

If approved by the government, the transaction would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta region. Beyond the initial price tag, Shell said it will receive additional payments of as much as $1.1 billion.

RETURNOFENDSARS:
I'm a lawyer, called in 2016. I'm married with a kid and I'm in my early 30s. My wife is not working, so I have been the one shouldering the responsibility, despite that, God has given me my own house. Three bedrooms flat in front and three bedrooms flat at the back, all with full pop, water heater, full tiles, in fact all the modern facilities.
In all honesty I made between 600k-1.5m per month.

Just of recent, the zeal to Japa to Canada has been on my mind through school route. I currently have like 7m in my account and I know I could raise it till 15m before the end of the year. The cost of schooling keep giving me issue. How will someone travel abroad and spend over 15m when I could used the money to buy hostel from people who desperately needs money or invest in real estate.

Another concern of mine is that the future of legal profession is reducing because of the amount clients are paying particularly in the area of agreement and other things.

Definitely, I won't be selling the house if I decide to relocate, the rent from the two flats will go to my mom and the least could only be 500k per year. I won't have issues sending money at home.

Please, I really need advice from lawyers that are there, how do you cope migrating. Is it advisable I leave, if yes, what are the first things I might encounter, if am relocating it will be with my family. I just don't want to regret relocating. The exchange rate is just too much

The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 28.92 percent in December 2023 — up from 28.20 percent in the previous month.

This was disclosed by the National Bureau of Statistics (NBS) in its CPI report for December released on Monday.

The latest figure marks the twentieth consecutive rise in the country’s inflation rate in 2023.

The bureau said the December 2023 headline inflation rate showed an increase of “0.72% points when compared to the November 2023 headline inflation rate”.


“On a year-on-year basis, the headline inflation rate was 7.58% points higher compared to the rate recorded in December 2022, which was 21.34%,” the report reads.

“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).”

On a month-on-month basis, according to the NBS, the headline inflation rate in December 2023 was 2.29 percent, which was” 0.20 percent higher than the rate recorded in November 2023 (2.09 percent)”.



This means that in December 2023, the rate of increase in the average price level is more than what was recorded in the previous month.

FOOD INFLATION RATE ROSE TO 33.9 PERCENT

The NBS report also said the food inflation rate in December 2023 was 33.93 percent on a year-on-year basis — 10.18 percent points higher compared to the rate recorded in December 2022 (23.75 percent).

According to the bureau, the rise in food inflation on a year-on-year basis was caused by increases in prices of bread and cereals, oil and fat, potatoes, yam and other tubers, fish, meat, fruit, milk, cheese, and egg.


“On a month-on-month basis, the Food inflation rate in December 2023 was 2.72%, this was 0.30% higher compared to the rate recorded in November 2023 (2.42%),” the agency said.

“The rise in Food inflation on a Month-on-Month basis was caused by a rise in the rate of increase in the average prices of Oil and fat, Meat, Bread and Cereals, Potatoes, Yam & Other Tubers, Fish and Milk, Cheese, and Egg.

“The average annual rate of Food inflation for the twelve months ending December 2023 over the previous twelve-month average was 27.96%, which was a 7.02% points increase from the average annual rate of change recorded in December 2022 (20.94%).”

“In December 2023, Food inflation on a Year-on-Year basis was highest in Kogi (44.73%), Kwara (41.33%), and Imo (39.54%), while Bauchi (27.49%), Jigawa (27.98%) and Sokoto (28.72%) recorded the slowest rise in Food inflation on Year-on-Year basis.

“On a Month-on -Month basis, however, December 2023 Food inflation was highest in Bayelsa (4.42%), Ogun (4.11%), and Enugu (4.03%), while Nasarawa (1.48%), Delta (1.65%) and Niger (1.67%) recorded the slowest rise in inflation on Month-on-Month basis.”

iwaeda:


Police don't want to use NIN according to Pantami. Waiting for Jobi's rebuttals. We were shouting how terrible insecurity has become under APC, they called us name. Nigeria is on auto pilot.