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BREAKING: Inflation Drops To 32.15%

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The National Bureau of Statistics, NBS, says the headline inflation rate eased to 32.15% in August 2024, relative to the July 2024 headline inflation rate of 33.40%.

Looking at the movement, it indicates that the August 2024 headline inflation rate showed a decrease of 1.25% points when compared to the July 2024 headline inflation rate.

However, on a year-on-year basis, the bureau disclosed that the headline inflation rate was 6.35% points higher compared to the rate recorded in August 2023 (25.80%), which shows an increase in August 2024, when compared to the same month in the preceding
year.

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On a month -on -month basis, NBS said the headline inflation rate in August 2024 was 2.22%, which was 0.06% lower than the rate recorded in the previous month (2.28%). This means that in August 2024, the rate of increase in the average price level is lower than the rate of increase in the average price level in July 2024.

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“The percentage change in the average CPI for the twelve months period ending August 2024 over the average of the CPI for the previous twelve months period was 31.26%, showing 8.88% increase compared to 22.38% recorded in August 2023.”
Urban Inflation.

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On a year-on-year basis, August 2024 Urban inflation rate was 34.58%, this was 6.89% points higher compared to the 27.69% recorded in August 2023.

On a month-on-month basis, the urban inflation rate was 2.39% in August 2024, this was 0.07% points lower compared to July 2024 (2.46%).

The corresponding twelve-month average for the Urban inflation rate was 33.44% in August 2024. This was 9.98% points higher compared to the 23.46% reported in August 2023.

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Rural Inflation

The Rural inflation rate in August 2024 was 29.95% on a year-on-year basis; this was 5.85% higher compared to the 24.10% recorded in August 2023.
On a month-on-month basis, the Rural inflation rate in August 2024 was 2.06%, down by 0.04% points compared to July 2024 (2.10%).
The corresponding twelve-months average for the Rural inflation rate in August 2024 was 29.32%.
This was 7.93% higher compared to the 21.39% recorded in August 2023.

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The Food inflation rate in August 2024 was 37.52% on a year-on-year basis, which was 8.18% points higher compared to the rate recorded in August 2023 (29.34%).

The rise in Food inflation on a year on year basis was caused by increases in prices of the following items, Bread, Maize Grains, Guinea Corn, etc (Bread and Cereals Class), Yam, Irish Potatoes, Water Yam, Cassava Tuber, etc (Potatoes, Yam & Other Tubers Class), Palm Oil, Vegetable, etc (Oil & Fats Class) and Ovaltine, Milo, Lipton, etc (Coffee, Tea & Cocoa Class).

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On a month-on-month basis, the Food inflation rate in August 2024 was 2.37% which shows a 0.10% decrease compared to the rate recorded in July 2024 (2.47%).

The fall was attributed to the decline in the rate of increase in the average prices of Tobacco, Tea, Coco, Coffee,
Groundnut Oil, Milk, Yam, Irish Potatoes, Water Yam, Cassava Tuber, Palm Oil, Vegetable etc.

The average annual rate of Food inflation for the twelve months ending August 2024 over the previous twelve-month average was 36.99%, which was 11.98% points increase from the aver
age annual rate of change recorded in August 2023 (25.01%).

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Meanwhile, on state by state basis, all Items inflation rate in August on a Year-on-Year basis was highest in Bauchi (46.46%), Kebbi (37.51%) and Jigawa (37.43%), while Benue (25.13%), Delta (26.86%) and Imo (28.05%) recorded the slowest rise in Headline inflation on Year-on-Year basis.

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Back To School: Lions Club Distributes Educational Materials In Edo Schools

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The Benin Etete Unique and Edo Heritage Lions of the International Association of Lions Club on Friday jointly distributed educational materials to two schools in Benin City as part of the association corporate services to humanity.

The two clubs in District 404-A4 Lions Nigeria, jointly carried out the distribution of notebooks, maths sets, school bags and sandals, pens and other writing materials to excited pupils in Ivbioba Primary School and Oghede-Ivioba Primary School, Ugbighoko, Egor Local Government Area, and Evbiyenava Primary School, in Ikpoba-Okha Local Government Area of Edo State.

Themed, Back to School Project, pupils were also engaged in Reading Action Program (RAP) and Spelling Bee Competition, after which winners were presented with special prizes.

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In their remarks, Lions Darlington Uyi and Franca Nikoro, presidents of Benin Etete Unique and Edo Heritage Lions Clubs stated that the vision of the Lions International is to serve humanity.

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They, therefore, tasked pupils on commitment to their studies in order to attain their fullest potentials in life.

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Emulate Lions in your visions for tomorrow. We have various professionals as members, and if you are committed to your studies, obedient to your parents and teachers, you will attain great heights,” Lion Uyi Darlinton Stated.

Our vision is to serve, and we are here like we do every period to ensure Literacy is inculcated in pupils to enable them to attain their full potential. It is our earnest desire that you grow into well rounded personalities. Literacy is important in order to actualize that aspiration,” Franca Nikoro stated.

Earlier, in his address, Lion Sir Dede Henry Idemudia, Zone 6A Chairperson, tasked the pupils on good conduct, honour to parents and guardians and obedience to instructions of school authority.

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NAFDAC Gives Nigerian Food Companies 18 Months To Cut Trans Fats

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The National Agency for Food and Drug Administration and Control has set an 18-month grace period, effectively giving food companies until early 2026 before facing full enforcement of regulations to eliminate industrially produced Trans-Fatty Acids (TFA).

The initiative, launched as a comprehensive strategy and roadmap for TFA regulation, moves Nigeria from simply having the policy to enforcing its world-class standard: a regulatory limit of no more than two grams of industrially produced trans fat per 100 grams of total fat or oil.

The Director-General of NAFDAC, Professor Mojisola Adeyeye, emphasised that the roadmap moves the country beyond policy creation to aggressive enforcement and implementation.

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This was contained in the NAFDAC DG’s keynote speech posted on the agency’s official X (formerly Twitter) on Friday.

Adeyeye stressed the moral imperative of the Agency’s mission.

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The removal of industrially produced trans fats from the food chain is not only a technical achievement, but a moral imperative.

“Eliminating industrially produced trans fats is possible, achievable, necessary, and urgent,” Adeyeye stated, calling for national collaboration.

The moratorium period is designed to allow manufacturers to exhaust existing stock with outdated labels and reformulate their products to comply with the legal limit.

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NAFDAC’s action targets a dangerous dietary risk factor strongly linked to cardiovascular disease, stroke, and premature death globally.

Adeyeye emphasised the significance of the move beyond technical compliance, noting, “The removal of industrially produced trans fats from the food chain is not only a technical achievement, but a moral imperative.”

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This aggressive step builds upon Nigeria’s existing reputation; the country was recognised by the World Health Organisation in 2023 for adopting best-practice TFA elimination policies.

The new roadmap is key to securing WHO validation of Nigeria’s full TFA elimination programme, establishing the nation as a regional leader in public health interventions.

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Mohbad’s Father Urges Lagos AG To Prosecute Wife, Nurse, Others

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Joseph Aloba, the father of late singer Mohbad, has urged the Lagos State government to initiate criminal proceedings against individuals named in the coroner’s inquest into his son’s death.

Mohbad passed away on September 12, 2023, following an injection administered by auxiliary nurse Feyisayo Ogedengbe.

Despite being buried the next day, public outcry and ongoing investigations led to the exhumation of his body on September 21, 2023, for an autopsy.

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In a letter dated October 3 and addressed to the attorney general of Lagos State through his lawyers, Aloba demanded that criminal charges be filed against those indicted within 14 days.

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Specifically, we refer to persons indicted by the coroner’s verdict hereunder: Miss Ogedengbe Fisayo, indicted for unlawful medical practice and gross medical negligence; and Mrs. Omowunmi Aloba, indicted for negligence,” the letter reads.

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“This includes Ibrahim Owodunni, a.k.a. Prime Boy, and others who either facilitated the invitation of the auxiliary nurse or refused to take him promptly to a recognised medical facility for treatment.”

Mohbad’s father said he was concerned that despite the coroner’s clear verdict, no prosecutorial steps had been taken against those indicted nearly three months after the judgment.

He asked the attorney general to exercise prosecutorial powers within the 14 days, or, in the alternative, grant him and his legal team a fiat to prosecute the matter on behalf of the state.

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“Our Client, as a bereaved father desirous of ensuring that justice is done and seen to be done, is deeply concerned that notwithstanding the clear indictments contained in the Coroner’s Verdict, no prosecutorial steps have been taken against the aforementioned persons since the delivery of the Verdict on 11th July, 2025,” the letter reads.

The judicial observations amount to clear indictments warranting the prosecution of the said individuals in order to give full effect to the Coroner’s findings and recommendations, and to ensure that justice is manifestly and adequately served in this matter.

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“We request that you exercise your prosecutorial power on the above subject matter within 14 Days Next, in view of the high sensitivity of this matter and the public attention and outrage it has generated.”

In October 2023, Naira Marley and Sam Larry were arrested over allegations linking them to Mohbad’s death, but were released on bail after five weeks in detention.

By February 2025, a magistrate court cleared them of any involvement in the singer’s demise.

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