Business
August: Inflation Drops To 11%
Inflation rate in Nigeria continues to fall through the year, with the latest figures indicating that the rate dropped to 11 per cent in August.
The fall of the year-on-year inflation rate signals stability for the economy after the stormy rise in prices in 2008, when the rate rose to 15.1 per cent.
A report released by the National Bureau of Statistics (NBS) in Abuja said the rate was slower in August than the 11.1 per cent recorded in July. The monthly report titled, “consumer price index for August, said average food prices rose by 1.1 per cent in August.
The composite consumer price index of CPI rose to 11.0 per cent year-on-year in August, and it is slower than the 11.1 per cent increase recorded in the previous month. The monthly change of the CPI was 1.1 per cent increase in August the report said. The NBS had last year reported that the year-on-year average consumer price level as at December 2008 rise by 15.1 per cent.
This was higher than the 14.8 per cent observed in November 2008. the corresponding urban and rural indices rise by 11.4 per cent and 17.0 per cent respectively over the period, the report added.
CBN governor Sanusi Lamido Sanusi said in August that inflation rates would drop to single digit before the end of the year.
Experts say that the year-on-year inflation rate has been on a steady decline this year due to belt tightening measures taken by the government.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports4 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports4 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports4 days ago
NPFL club name Iorfa new GM
-
Sports4 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports4 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports4 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports4 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension