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NBS: ‘Inflation Rate Increases To 20.77% In Sept’

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The National Bureau of Statistics (NBS) has said that Nigeria’s headline inflation rate increased to 20.77per cent on a year-on-year basis in September 2022.
This was contained in the Consumer Price Index (CPI) and Inflation Report for September and issued, last Monday by the Statistician-General of the Federation and NBS Chief Executive Officer, SemiuAdeniran.
Adeniran stated that the figure was 4.14per cent points higher compared to the 16.63per cent recorded in September 2021, saying: “This indicates that in September 2022, the general price level was 4.14per cent higher relative to September 2021.”
He said factors responsible for the increase in the annual inflation rate include interruption in the supply of food products, increase in import cost due to the persistent currency depreciation, and a general increase in the cost of production.
Adeniran said on a month-on-month basis, the headline inflation rate in September was 1.36per cent, which was 0.41per cent lower than the rate recorded in August 2022 at 1.77per cent.
“This means that in September 2022, the headline inflation rate on a month–on–month basis declined by 0.41per cent, relative to August 2022,” he noted
The NBS boss stated that the factor responsible for the decline in the monthly inflation rate in the last two months was a decline in the changes in the food index.
According to him, this is relative to the reference month index, which is due to the present harvest season.
Adeniran said the percentage change in the average CPI for all items index for the 12 months ending September 2022 over the average of the CPI for the previous 12-month period was 17.43per cent, noting: “This is showing a 0.60per cent increase compared to 16.83per cent recorded in September 2021.”
The statistician-general said increases were recorded in all Classification of Individual Consumption by Purpose (COICOP), divisions that yielded the Headline index.
He said the food sub-index increased by 23.34per cent on a year-on-year basis in September 2022, adding that the inflation was 3.77per cent higher compared to the rate recorded in September 2021 at 19.57per cent.
“This rise in food inflation was caused by increases in prices of bread and cereals, food products, potatoes, yam, and other tubers, oil, and fat,” the NBS boss stated.
The statistician-general noted that on a month-on-month basis, the food inflation rate in September was 1.43per cent, adding that this was a 0.54per cent decline compared to the rate recorded in August 2022 at 1.98per cent.
According to him, this decline is attributed to a reduction in prices of some food items like tubers, palm oil, maize, beans, and vegetables.
Adeniran said the average annual rate of food inflation for the 12 months ending September 2022 over the previous 12-month average was 19.36per cent.
“This was a decline of 1.35per cent points from the average annual rate of change recorded in September 2021 at 20.71per cent,” he stated.
He said in September 2022, consumer price index for urban consumers rose by 4.06per cent on a year-on-year basis.
The NBS boss stated: “That is in September 2022, the urban inflation rate was 21.25per cent higher compared to the 17.19per cent recorded in September 2021.
“On a month-on-month basis, the urban inflation rate was 1.46per cent in September 2022, this was a 0.34per cent decline compared to August 2022 at 1.79per cent.”
Adeniran said the corresponding 12-month average for the urban inflation rate was 17.94per cent in September 2022, showing a 0.53per cent increase compared to the 17.41per cent reported in September 2021.
He said the inflation rate for rural consumers in September 2022 was 20.32per cent on a year-on-year basis, which was 4.24per cent higher compared to 16.08per cent recorded in September 2021.
“On a month-on-month basis, the rural inflation rate in September 2022 was 1.27per cent, this is a 0.48per cent decline compared to August 2022 at 1.75per cent,” the statistician-general noted.
Adeniran said the corresponding 12-month average for the rural inflation rate in September 2022 was 16.94per cent, showing a 0.68per cent increase compared to the 16.26per cent recorded in September 2021
On the states’ profiles, he said all items inflation rate for September 2022 on a year-on-year basis was highest in Kogi State at 23.82per cent, followed by Rivers at 23.49per cent, and Benue at 22.78per cent.
“While the states with the slowest rise were Abuja with 17.87per cent followed by Borno with 18.12per cent, and Adamawa with 18.42per cent,” he said.
The statistician-general said on a month-on-month basis, the state all items index for September 2022 recorded the highest rate in Jigawa State at 2.58per cent, followed by Yobe State at 2.22per cent and Benue at 2.05per cent.
“The states with the slowest rise were Abuja at -0.72, followed by Sokoto with -0.19per cent and Adamawa with 0.25per cent,” the NBS boss stated.

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Agriculture: NDE Earmarks N4.2m For Unemployed Youths 

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The National Directorate of Employment (NDE) has concluded plans to disburse N4.2 million loan to 42 unemployed youths in Adamawa State to boost agriculture production in the State.
The NDE Director-General, Malam Abubakar Fikpo, made this known at the orientation course for beneficiaries of agricultural empowerment scheme in Yola on Wednesday.
Fikpo, represented by the NDE Coordinator in Adamawa State, Malam Ibrahim Jimada, said each beneficiary would access N100,000 as start up capital.
He said the beneficiaries were trained under the Department of Rural Empowerment scheme (REP) on sustainable agricultural development.
“They were trained on Agricultural Enhancement Scheme, Sustainable Agricultural Development Scheme, Community-Based Agricultural Empowerment and Graduation Agricultural Empowerment scheme,” he said.
The NDE boss advised beneficiaries to take advantage of the training to earn a living.
Head of Department, REP, Mr Edam Duke, commended NDE for the programme and urged the beneficiaries to be committed as they would appreciate the gesture at the end.
“Those who are serious will soon be self-employed and employers of labour. The Federal Government is committed to creating employment opportunities for youths,’’ he said.
In her remarks, Head of Department, REP scheme in Adamawa State, Zainab Audu, said farming was a lucrative business and urged beneficiaries to pay attention to the orientation for successful implementation in the field.
“With this skills you will become millionaires and employers of labour within a short time if you put it into practice,” Audu said.
She called on the beneficiaries to be good ambassadors of their respective communities by ensuring peace and unity for sustainable development.
Also, Miss Deborah Gisilanbe, who spoke on behalf of the participants thanked the Federal Government and NDE for the training and gave assurance that they would utilise the opportunity toward achieving the objectives of the programme.

 

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UNICEF Commends Niger On Penta3 Vaccination Coverage

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The United Nations Children’s Fund (UNICEF) has commended Niger State Government for its progress in the administration of Pentavalent (Penta3) vaccine for children in the State.
Chief of Office, UNICEF, Kaduna, Mr Donald Burgess, gave the commendation at the sensitisation of Multiple Indicator Cluster Survey (MICS) 2021.
It is organised by the Niger State Planning Commission in collaboration with UNICEF.
The Tide’s source reports that MICS 2021 report shows that more than 40 per cent of residents of Niger were practicing open defecation.
Burgess, who spoke through the Health Specialist, UNICEF, Kaduna Field Office, Mr Idris Baba, said Niger did well as the Penta3 vaccination rose from 20 per cent in 2016 to 39.4 per cent in 2021.
He said maternal and child mortality had reduced considerably and was far below the national average child mortality at 18 per cent per 1,000 life birth while that of the national was at 42 per cent.
Burgess added that the neo-natal mortality in the state was 20 per cent per 1,000 life birth while that of the nation was at 34 per cent.
He, however, urged the State Government to put more effort in the enrollment of out of school children especially the girl-child education which had drastically declined in the state.
He noted that educating the girl-child would help reduce maternal and child health issues as more women would be educated on their rights.
Earlier, Governor Abubakar Sani-Bello of Niger State, expressed concerns that the State was lacking on enrollment of out-of-school children, especially the girl-child education as well as on practices of open defecation among residents.
Bello, represented by the Secretary to the State Government, Alhaji Ahmed Matane, urged Ministries, Departments and Agencies (MDAs) to come up with policies and programmes to achieve better results, pledging government’s full support.
Niger State Commissioner and Deputy Chairman of Ministry for Planning Commission, Alhaji Abubakar Zakari, in his address, said the event was to brief Government on data regarding the situation of women and children in the state.
According to him, data is key to planning and policy development.

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Gov Inaugurates Skill Acquisition Centre In Enugu

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Governor Ifeanyi Ugwuanyi of Enugu State has inaugurated a Skills Acquisition Centre, Rancsfard Fashion and Skill Academy, in the State.
The centre, which provides a veritable platform for participants, especially the youths, to acquire skills in fashion and design, makeup artistry, baking and pastry production, photography and ICT, is located in Trans-Ekulu, Enugu.
Governor Ugwuanyi, who inspected the academy shortly after the inauguration, expressed delight at the facilities in it, and the initiative, lauding the proprietor.
Welcoming Governor Ugwuanyi and other dignitaries to the academy, the Managing Director/Chief Executive Officer (CEO), Lady Princess Akunna Ubosi, disclosed that her decision to establish the facility was borne out of her burning desire to create a platform where individuals, especially youths, can easily acquire lifelong entrepreneurial skills that will reduce the high rate of unemployment in the society and also ensure a productive future for young ones.
Lady Ubosi, who is the wife of the Speaker of the Enugu State House of Assembly, added that she was also inspired by Governor Ugwuanyi’s “enormous strides in building capacity amongst our youths through various skill acquisition programmes anchored by the Enugu SMEs Centre.”
She informed the Governor that Rancsfard Fashion and Skill Academy is positioned and available to partner the State Government in building capacity among the people.
“The academy is willing to train verified indigent students free of charge”, she said.
She continued that, “The academy incorporates a bakery and clothing production factory through which our finished products are sold to the general public; and we are proud to note that our products are made in Enugu State to international standards.
“The world is currently in a knowledge-based economy in which ‘knowledge’ is the only meaningful factor of production.
“Therefore, creating a learning society will not be possible without building a platform where this knowledge can be transferred from one person to another”.

By: Canice Amadi, Enugu

 

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