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Inflation drops by 0.37% for second consecutive month- NBS

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By Gistflash News

Sept 15, 2021

The National Bureau of Statistics (NBS), says the rate of inflation slowed by 0.37 per cent to 17.01 per cent Year-on-Year (YoY) in August from 17.38 per cent recorded in July.

The bureau said this in the “Consumer Price Index (CPI), August 2021” report released on Wednesday in Abuja.

The News Agency of Nigeria (NAN reports that the inflation rate has been on a steady decline for five consecutive months.

This is as inflation rate in June stood at 17.75 per cent, with that of May at 17.93 per cent from 18.12 per cent recorded in April, while 18.17 per cent was recorded in March.

It also said that increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline Index.

“On month-on-month basis, the headline index increased by 1.02 per cent in August, this is 0.09 per cent rate higher than the 0.93 per cent recorded in July.

“The percentage change in the average composite CPI for the 12 months period ending August 2021 over the average of the CPI for the previous 12 months period was 16.60 per cent, showing 0.30 per cent increase from 16.30 per cent recorded in July.”

The NBS said that urban inflation rate increased by 17.59 per cent YoY in August from 18.01 per cent recorded in July, while the rural inflation rate increased by 16.43 per cent in August from 16.75 per cent in July.

According to the report, on a month-on-month basis, the urban index rose by 1.06 per cent in August, up by 0.08 per cent from the 0.98 per cent recorded in July.

It added that rural index also rose by 0.99 per cent in August, up by 0.12 per cent than the 0.87 per cent that was recorded in July.

It also said that the corresponding 12-month year-on-year average percentage change for the urban index stood at 17.19 per cent in the month under review.

This, it said, was higher than 16.89 per cent reported in July, while the corresponding rural inflation rate in August was 16.03 per cent compared to 15.73 per cent recorded in July.

The NBS said that composite food index rose by 20.30 per cent in August compared to 21.03 per cent in July.

This rise, it said, was caused by increases in prices of bread and cereals, milk, cheese and egg, oils and fats, potatoes, yam and other tuber, food product, meat and coffee, tea and cocoa.

It, however, said that on month-on-month basis, the food sub-index increased by 1.06 per cent in August, up by 0.20 per cent points from 0.86 per cent recorded in July.

Meanwhile, ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 13.41 per cent in August, down by 0.31 per cent when compared with 13.72 per cent recorded in July.

The NBS said that on month-on-month basis, the core sub-index increased by 0.77 per cent in August, down by 0.54 per cent when compared with 1.31 per cent recorded in July.

“The highest increases were recorded in prices of shoes and other footwear, household textile, motor cars, garments, game of chance, major household appliances whether electric or not and hospital services.

“Others are catering services, appliances, articles and product for personal care and clothing materials, other articles of clothing and clothing accessories.”

The report said that in the month under review, all items inflation on YoY basis was highest in Kogi at 23.40 per cent, Bauchi 21.56 per cent and Oyo 20.32 per cent.

Meanwhile Bayelsa at 15.04 per cent, Rivers 14.73 per cent and Kwara at 14.64 per cent recorded the slowest rise in headline YoY inflation.

It said that on month on month basis however, August all items inflation was highest in Cross River at 2.65 per cent, Zamfara 2.05 per cent and Akwa Ibom 2.01 per cent, while Kaduna 0.20 per cent and Rivers at 0.14 per cent recorded the slowest rise.

It however, said that Ebonyi recorded price deflation or negative inflation which is a general decrease in the prices of goods and services or a negative inflation rate.

For food inflation on a YoY basis for August, it was highest in Kogi at 28.76 per cent, Oyo 23.69 per cent and Gombe 22.37 per cent, while Rivers at 17.69 per cent, Edo 17.26 per cent and Bauchi at 17.24 per cent recorded the slowest rise in YoY food inflation.

“On month on month basis however, August food inflation was highest in Ekiti at 2.70 per cent, Abuja 2.62 per cent and Akwa Ibom 2.50 per cent, while Lagos at 0.04 per cent and Edo at 0.08 per cent recorded the slowest rise.

“Kaduna recorded price deflation or negative inflation”, it said.

NAN reports that CPI measures the average change over time in prices of goods and services consumed by people for day-to-day living.

NAN

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Northern Youths inaugurate Yahaya Bello Presidential Network

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By Gistflash News

Sept 22, 2021

Youths from Nigeria’s 19 northern states and the Federal Capital Territory (FCT) have inaugurated a political pressure group that will work for the realisation of the presidential ambition of Gov. Yahaya Bello of Kogi.

Known as the Yahaya Bello Network (YBN), the group said it would be supporting the governor to emerge the nation’s next president in 2023.

The YBN said Nigerian youths wanted one of them as the nation’s next leader.

At the inauguration on Wednesday in Kaduna, YBN spokesman, Bello Mohammed, said gone were the days when Nigerians talked of politics of region and ethnicity.

“We are supporting Gov. Bello not only because he is our own from the north, but because he is young, vibrant and energetic and has what it takes to lead Nigeria to the promised land.

“There are agitations everywhere, but it is not constitutional as politics is a game of number and Yahaya Bello is a man of quality.

“Nigeria’s presidency is something that has to do with quality and has nothing to do with your religion or background,“ Mohammed said.

The inauguration of the YBN comes barely 72 hours after the Northern Elders Forum (NEF) declared that the region would retain power beyond 2023 as it has the voter population to win the presidential election in 2023.

Inaugurating the executives and ambassadors of YBN, Mohammed described the call by the southern governors for power to return to the South as unconstitutional and uncalled for, insisting that politics is a game of numbers.

He said the leadership of his group would embark on a tour of the 19 northern states to canvass support for the candidature of Bello as Nigeria’s next president.

The Special Adviser on Youth and Student Affairs to the Governor, Ahmed Jibril, said it was a good development that Nigerian youths were now coming on board to identify with a youth like them and seek his election to the exalted position of Nigerian President.

“It is only a plus for us as youths to be calling on Gov. Bello to come and be the number one citizen of Nigeria,” he said.

On the agitation for power shift to the South, Jibril said it was part of democracy.

“Everybody has the right to call for what he wants and it is his opinion.

“If people have seen the youth in Gov. Bello, if they have seen a leader and a unifier of the country in him, then he shall be the President by the grace of God because man proposes but God has the final say,’’ Jibril said.

YBN Secretary-General Salisu Mohammed inaugurated the executives and ambassadors of the group, including notable Kannywood actors and actresses.

He called on them to go and spread the message to others in their respective states.

NAN

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INEC begins nationwide display of voters register Sept 24, says Ebonyi REC

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By Gistflash News

Sept 22, 2021

The Independent National Electoral Commission (INEC) says it will commence the first quarter display of Voter Register (VR) across the country on Sept. 24.

Dr Joseph Chukwu, the Ebonyi INEC Resident Electoral Commissioner (REC), who stated this at a news conference in Abakaliki, on Wednesday, added that the display will run from Sept. 24 and end on Sept.30.

He urged those that took part in the registration exercise to use the opportunity to cross-check their biodata and any other relevant information and make corrections, where necessary.

Chukwu noted that the exercise was sequel to the end of the first quarter of the Continuous Voter Registration (CVR) that began in June.

The REC, who commended eligible voters for participating in the civic exercise appealed to the citizenry to continue supporting INEC’s activities that would lead to credible elections in 2023.

“Following the completion of the online and physical registrations, which began on June 28 and closed by 11.59p.m on Sept. 21.

“The display of voters’ register for claims and objections will hold effective from Sept. 24 to Sept. 30 for the first quarter.

“The exercise will take place in all the 13 local government offices of the commission, including the two centres at the state headquarters.

“The register will also be on display simultaneously across the 774 local government areas and the Federal Capital Territory, as well as other designated centres.

“All registrants are, therefore, advised to visit centres where they registered or made corrections to check for the correctness of their particulars”, Chukwu said.

He explained that the second quarter of the CVR exercise would begin on Oct. 4 nationwide and end on Dec. 20, while third phase of the exercise would start by Jan. 3, 2022 and close on March 4.

The fourth quarter would begin by April 11, 2022 to end on June 30, 2022.

“Let me on behalf of the Chairman of our commission, Prof. Mahmood Yakubu, express our gratitude to all critical stakeholders for their cooperation before, during and after the first quarter of the exercise in Ebonyi.

“Except occasional disruptions by rain, we did not encounter any security breach during the entire exercise throughout the state,” Chukwu said.

NAN

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Ganduje condoles with Gaya Emirate over Emir’s death

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By Gistflash News

Sept 22, 2021

Gov. Abdullahi Ganduje of Kano State has said that he received with sadness and deep feeling, the news of the passing away of the Emir of Gaya, Alhaji Ibrahim Abdulkadir.
Abdukkadir died on Wednesday at the age of 91 and left behind three wives, 28 children and many grandchildren.
The Commissioner for Information, Malam Muhammad Garba, stated this in a statement he issued to newsmen on Wednesday in Kano.
“Despite his ailing condition, the monarch’s uncommon leadership qualities earned him respect as traditional ruler since his days as Sarkin Gaya and until his death as First Class Emir in Kano.
“The death of the Emir in one of the oldest Emirates in Northern Nigeria, has created a vacuum difficult to be filled considering his contributions to peace, stability and progress of his domain and the country,” he said.
The commissioner revealed that Abdukkadir was one of the four Emirs elevated to First Class Emirs by the Gov. Ganduje administration after the creation of Rano, Gaya, Bichi and Karaye Emirates in 2019.
“Gov. Ganduje, who is away in Abuja when the Emir’s death was announced said the demise of the monarch is a big loss to his immediate family, Gaya Emirate, the government and the entire people of Kano state,” he said.
He, therefore, prayed to Allah in His infinite mercy to forgive his sins and grant him Aljannah Firdausi.
Garba also quoted the governor as calling on the people of the emirate to bear the loss with the spirit of acquiescence to God’s will.
The governor also urged them to take solace in the fact that endurance was not the measure of a good life but the sense of fulfilment.
NAN
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