Nation
Headline Inflation Rose To 18% In March, NBS Confirms
Headline inflation rose to 18 percent in March representing 0.82 percent points year-on-year (YoY) rise when compared to 17 per cent recorded in February.
Similarly, food inflation rose YoY by 5.0 per cent points to 23 per cent in March from 22 per cent in February.
The National Bureau of Statistics (NBS), disclosed this, yesterday, in its Consumer Price Index (CPI), Report for March, 2021.
The bureau stated, “The consumer price index (CPI) which measures inflation increased by 18.17 per cent (year-on-year) in March, 2021.
“This is 0.82 per cent points higher than the rate recorded in February, 2021 (17.33 percent).Increases were recorded in all COICOP divisions that yielded the Headline index.
“On month-on-month basis, the Headline index increased by 1.56 per cent in March, 2021. This is 0.02 percentage points higher than the rate recorded in February, 2021 (1.54 per cent).
“The urban inflation rate increased by 18.76 per cent (year-on-year) in March, 2021 from 17.92 per cent recorded in February, 2021, while the rural inflation rate increased by 17.60 per cent in March, 2021 from 16.77 per cent in February, 2021.
“On a month-on-month basis, the urban index rose by 1.60 per cent in March, 2021, up by 0.02 compared to the rate recorded in February, 2021, while the rural index also rose by 1.52 percent in March, 2021, up by 0.02 compared to the rate that was recorded in February, 2021 (1.50 per cent).”
On food inflation, it stated, “Composite food index rose by 22.95 per cent in March, 2021 compared to 21.79 per cent in February, 2021.
“This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.
“On month-on-month basis, the food sub-index increased by 1.90 per cent in March, 2021, up by 0.01 per cent points from 1.89 per cent recorded in February, 2021.
“In March, 2021, food inflation on a year on year basis was highest in Kogi (30 per cent), Sokoto (27 per cent) and Ebonyi (27per cent), while Abuja (20 per cent), Kebbi (20 per cent) and Bauchi (19 per cent) recorded the slowest rise in YoY inflation.
“On month-on-month basis, however, March, 2021, food inflation was highest in Rivers (3.5 per cent), Niger (2.9 per cent) and Gombe (2.9 per cent), while Zamfara (0.5 per cent) recording the slowest rise in month on month food inflation with Yobe and Kebbi recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).”
The percentage change in the average composite CPI for the 12 months period ending March 2021, over the average of the CPI for the previous 12 months period was 14.55 per cent, representing a 0.50 per cent point increase over 14.05 per cent recorded in February, 2021.
The urban inflation rate increased by 18.76 per cent (year-on-year) in March, 2021 from 17.92 per cent recorded in February, 2021, while the rural inflation rate increased by 17.60 per cent in March, 2021 from 16.77 per cent in February, 2021.
On a month-on-month basis, the urban index rose by 1.60 per cent in March, 2021, up by 0.02 compared to the rate recorded in February, 2021, while the rural index also rose by 1.52 per cent in March, 2021, up by 0.02 compared to the rate that was recorded in February, 2021 (1.50 per cent).
The corresponding 12-month year-on-year average percentage change for the urban index is 15.15 per cent in March, 2021.
This is higher than 14.66 per cent reported in February, 2021, while the corresponding rural inflation rate in March, 2021 is 13.99 per cent compared to 13.48 per cent recorded in February 2021.
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
Tonye Orabere
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