NIGERIA’s headline inflation rate increased to 33.88% in October 2024, up from 32.7% in September 2024, reflecting a 1.18 percentage point month-on-month increase. This was contained in the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report released on Friday. The Bureau attributed the rise in inflation to increased transportation costs and higher food prices. On a year-on-year basis, the headline inflation rate was 6.55% points higher than the rate recorded in October 2023 (27.33%). This indicates that the headline inflation rate increased in October 2024 when compared to the same month in the preceding year. On a month-on-month…
Author: Khadija Abubakar
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A MAJOR shake-up has taken place in the management of the Nigerian National Petroleum Company Limited (NNPCL), resulting in the removal of some management members and the redeployment of others. This was announced by the Board of Directors of the Company Limited (NNPC) on Wednesday. while Umar Ajiya was Chief Financial Officer (CFO) before now, Oritsemeyiwa Eyesan was in charge of the upstream operations, these two have been dropped. Adedapo Segun, who manned the downstream activities of the NNPC before now has been redeployed as the Chief Financial Officer (CFO)of the company Udobong Ntia has been appointed to replace…
THE National Human Rights Commission (NHRC) on Wednesday advised the Borno State government to evaluate the activities and programmes of Medecins Sans Frontieres in the state. News Point Nigeria reports that the commission made the recommendation in a report presented to the state, which absolved the Nigerian military of complicity in the reported termination of about 10,000 pregnancies in the North East. On December 7, 2022, Reuters had published a report alleging that since 2013, the Nigerian military conducted a secret, systematic and illegal abortion programme in the North East, terminating at least 10,000 pregnancies among women and girls, many…
THE Federal Government has restricted licensed flight crew members from operating multiple airlines. The Nigeria Civil Aviation Authority (NCAA) issued the restriction, saying its findings shows that pilots and other crew members render services to different airlines. In a circular NCAA/DGCA/AOL dated November 6th 2024 and signed by the Ag. Director-General, Civil Aviation, Capt. Chris Najomo, declared the act as illegal. According to the circular, instances where pilots operate for more than one airline concurrently pose risk to safety. It said the licence issued to pilot or any member of the flight crew is operator specific based on the approved…
THE total debt of Nigerian states has risen to N11.47tn as of June 30, 2024 despite higher allocations from the Federation Account Allocation Committee. This is according to an analysis of data from the public debt reports released by the Debt Management Office. The figure for the second quarter of 2024 represents a 14.57 per cent increase from the N10.01tn recorded in December 2023. This newspaper, however, observed that the increase was driven primarily by a sharp rise in external debt, worsened by the devaluation of the naira. External debt for the states and the Federal Capital Territory climbed from…
THE Federal Ministry of Health and Social Welfare has announced that all Nigerian women in need will now have access to free Cesarean sections (CS). The announcement was made by the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, on day 2 of the Joint Annual Review (JAR) conference. “This initiative is part of the new Maternal Mortality Reduction Innovation and Initiatives (MAMII) project,” Prof. Pate said, highlighting the government’s commitment to improving maternal and neonatal health in Nigeria. The statement, which was uploaded on the official X account of the Presidential Media Team on Thursday, November 7,…
FORMER Kano State Governor, Rabiu Kwankwaso, has condemned the recent arraignment of 67 minors by the Nigeria Police Force in Abuja for allegedly participating in the #EndBadGovernance protest. Expressing shock at the development, Kwankwaso voiced grave concern over the treatment of the children. In a statement, his personally on Friday, Kwankwaso highlighted their malnourished condition and urgent need for medical care. “These children, who are clearly malnourished and in need of medical attention, have been subjected to a cruel experience when they should be in school. “The arraignment of such a large number of minors in their states is highly…
THE Federal Government on Thursday said 25 million Nigerians have so far received the ₦25,000 conditional cash transfer. News Point Nigeria reports that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this while briefing State House Correspondents shortly after the National Economic Council meeting chaired by Vice President Kashim Shettima. He enumerated the steps taken by President Bola Tinubu’s administration to provide relief for Nigerians following the sufferings occasioned by the removal of subsidies and other policy reforms being implemented by the government. According to him, five million households have benefited from the direct transfer.…
DANGOTE Group’s contribution to the Nigeria’s GDP is significant and unprecedented, Governor Abba Kabir Yusuf of Kano State has said. Governor Yusuf said this at the 52nd Joint AGM of the Manufacturers Association of Nigeria (MAN) in Kano State. The Governor who was represented by the Kano State Commissioner for Commerce, Hon. Adamu Aliyu Kibiya, said the African conglomerate has also been adjudged the biggest employer of labour in the private sector. Dangote Group is one of the sponsors of the just concluded MAN’s 2024 AGM and Exhibition in Kano State. He said through his numerous investments and wealth creation…
OFFICIALS of local vigilante groups were seen holding sticks and locally forged swords as they provided security for the residents in the ongoing local government elections in Kano State on Saturday. As of the time of filing this report, police officers were nowhere in sight at the polling units. However, our correspondent on ground noted that some members of the local security officials were, however, seen clutching sticks and locally forged swords, while standing behind the residents as they get set to cast their votes. As of the time of filing this report, electoral officials have started arriving at polling…
THE Nigeria Centre for Disease Control, NCDC, says no fewer than 1,191 persons have been killed by diphtheria from May, 2023 to date across Nigeria. Dr Muzzammil Gadanya, the Incident Manager, National Diphtheria Emergency Operations Centre, NCDC, disclosed this on Wednesday in Kaduna during the National Intra-Action Review Meeting for Diphtheria outbreak. He said the country recorded suspected cases of more than 38,000 persons while the number of confirmed cases stood at 23,000. Gadanya said the primary focus of the review meeting was to assess Nigeria’s current response mechanisms and strengthen coordination efforts to prevent further spread of the disease.…
THE Nigeria Democracy Working Group has condemned the sacking of the Chairman, Kano Independent Electoral Commission (KANSIEC) by a Federal High Court on Tuesday. In a press release jointly signed by Dr. Vincent Okpara Innocent, Convener and Dr. Idris A. Mohammed Co – Convener, the group condemned the ‘incessant Judicial Recklessness by Federal High Court Judges in Kano. According to them, the Judges who are supposedly on a mission to truncate democracy and jeopardize the peace and security of Kano state must be called to order immediately. The group says it is mobilizing 1,000 organizations across the country to file…
MINISTER of the Federal Capital Territory (FCT), Nyesom Wike, has recalled how he revoked the certificate of occupancy (C of O) of some plots of land allocated to German construction giant, Julius Berger, in the Katampe District of Abuja. The minister spoke on Monday at the official Flag-Off Ceremony of the Design and Construction of 40 Judges’ Quarters at the nation’s capital. The event was attended by the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun; and the President of the Court of Appeal of Nigeria, Justice Monica Dongban-Mensem; among other dignitaries. Wike said 70% of funds for the project…
NIGERIANS spent about $2.38m on foreign healthcare-related services from January to June 2024, findings by this newspaper have shown. This is according to a report from the Central Bank of Nigeria on the amount spent on health-related and social services under the sectoral utilisation of foreign exchange. A breakdown of the report showed that $2.3m was spent in January; $0.00m in February; $0.01m in March; $0.00m in April; $0.05m in May; and $0.02m in June. Our correspondent observed that the amount spent on foreign healthcare-related services in the first half of the year was more than that spent in the…
THE Federal Government, through the Nigerian Electricity Regulatory Commission, has said discussions are ongoing to transfer the management of the national grid to Independent System Operator in line with the provisions of the Electricity Act 2023 to engender more discipline in grid management. NERC also revealed that an explosion incident at the Jebba transmission station was the cause of the latest national grid collapse that occurred early Saturday. According to the commission, efforts to restore supply have progressed significantly, with power restored in 33 states and the Federal Capital Territory as of 1 pm on Saturday. For the third time…
THE African Development Bank (AfDB) will establish a Youth Entrepreneurship Investment Bank for Nigeria which is part of its support for young people. AfDB president Akinwunmi Adesina said this on Friday in Abuja while delivering a keynote address at the 90th Birthday Lecture of former Head of State Yakubu Gowon. “I am delighted to announce here today that just three days ago, the African Development Bank’s board of directors approved $100m for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria,” he said. Adesina said the move underscores AfDB’s resolve to support youths who he believes are critical to…
THE Federal Accounts Allocation Committee (FAAC), has shared N1.298 trillion among the Federal Government, states, and the Local Government Councils (LGCs) for September. This is according to a communique issued at the end of FAAC meeting for October held on Thursday in Abuja. The communiqué was made available to newsmen by Bawa Mokwa, the Director, Press and Public Relations, Office of the Auditor-General of the Federation (OAGF). According to the communiqué, N1.298 trillion total distributable revenue comprised distributable statutory revenue of N124.716 billion, and distributable Value Added Tax (VAT) revenue of N543.518 billion. It also comprised Electronic Money Transfer Levy…
THE shortage of aircraft in the domestic airline market has worsened, limiting available flights for passengers, findings by this newspaper have shown. Many passengers were stranded across the country Tuesday as they could not secure flights to their destinations. The busiest routes, Lagos-Abuja and Abuja-Lagos, were hugely impacted as many passengers could not secure seats as of 4pm yesterday. Checks by our correspondent on the airlines indicated that none of them had seats on any of their Lagos-Abuja flights. For instance, a check on Max Air flight slated for 6pm indicated that the seats were fully booked. However, it was…
NIGERIA’s headline inflation rate for September 2024 rose to 32.70 per cent, according to the latest Consumer Price Index report from the National Bureau of Statistics. The increase of 0.55 per cent is from the August 2024 figure of 32.15 per cent. The development was after inflation dropped consecutively in the previous two months of July and August. Year-on-year, inflation has surged by 5.98 percentage points compared to the 26.72 per cent recorded in September 2023. The report read, “In September 2024, the Headline inflation rate was 32.70% relative to the August 2024 headline inflation rate of 32.15%. Looking at…
A FORMER governor of Ekiti State and a chieftain of the Peoples Democratic Party (PDP), Ayo Fayose, has expressed regret over the crisis rocking the former leading party in Nigeria. He said that the suspension and counter-suspension within the party has brought the party too low to the level of embarrassment which according to him is not necessary. ”The current situation in our party has made a mockery of suspension and counter-suspension, especially at that level of leadership,” Fayose said on Channels Television’s Sunday Politics monitored by News Point Nigeria. “And sadly now, the current situation in the party has…