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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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Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

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Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

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Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

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Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

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Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

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Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

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According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

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Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

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I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

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Children’s Day: Edo Commits To Child Protection

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The Edo State Government has reaffirmed its commitment to protecting the rights of children, promoting quality education, and strengthening sports development across the state.

This assurance was given by the governor of Edo State, Monday Okpebholo, during the 2026 Children’s Day Celebration and Governor’s Cup Finale held on Wednesday at the Samuel Ogbemudia Stadium, Benin City.

Addressing pupils, students and teachers,
the governor described children as the pride of Edo State and the future of the nation.

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The governor, represented by his deputy, Dennis Idahosa,
noted that the annual celebration provides an opportunity to honour their dreams, talents, and limitless potential.

READ ALSO:Eid-el-Kabir: Edo Deputy Gov Solicits prayers For Okpebholo

Speaking on this year’s Children’s Day theme, “Choose Kindness, Reject Bullying,” the governor said the message was timely and significant, as it emphasizes the need to create safe, supportive, and inclusive environments for children both in schools and communities.

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He stated that bullying in all forms — physical, verbal, emotional, or online — has no place in society, adding that the Edo State Government remains fully committed to protecting the rights and dignity of every child.

According to him, the administration will continue to strengthen policies and programmes that promote child protection, discipline, mutual respect, and positive learning environments across schools in the State.

The governor urged children to embrace kindness, compassion, teamwork, and respect for one another, stressing that true strength lies not in intimidation but in empathy, good character, and mutual understanding.

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