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Inflation Rate Declines, Food Prices Rise In Nigeria
The National Bureau of Statistics (NBS) has said that Nigeria’s headline inflation rate declined to 21.34per cent on a year-on-year basis in December 2022.
The NBS made this known via its Consumer Price Index (CPI) and Inflation report for December 2022 released, last Monday.
It stated that the rate showed a decline of 0.13per cent when compared with the November 2022 rate of 21.47per cent.
The NBS said that on a year-on-year basis, the headline inflation rate was 5.72per cent points higher when compared with the rate recorded in December 2021, which was 15.63per cent.
It said the percentage change in the average CPI for the 12 months ending December 2022 over the average of the CPI for the previous 12 months period was 18.85per cent.
It said the change showed 1.89per cent increase compared to the 16.95per cent recorded in December 2021.
“On a month-on-month basis, the percentage change in the all items index in December 2022 was 1.71per cent which is 0.32per cent higher than the rate recorded in November 2022 of 1.39per cent.
“This means that in the month of December 2022, the general price level was 0.32per cent higher relative to November 2022.
“The increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.
“This is especially in food and Non-Alcoholic Beverages, Transport, and Miscellaneous Goods and Services,” the NBS said.
It noted that food inflation rate in December 2022 was 23.75per cent on a year-on-year basis; which was 6.38per cent higher compared to the 17.37per cent rate recorded in December 2021.
The NBS indicated that the rise in food inflation was due to increases in the prices of bread and cereals, oil and fat, potatoes, yam, and other tubers, fish, and food products.
“On a month-on-month basis, the food inflation rate in December was 1.89per cent, this was 0.49per cent higher compared to the 1.40per cent rate recorded in November 2022.
“This increase was attributed to increase in prices of some food items like oil and fat, fish, potatoes and tubers, bread and cereals, and fruits.
“The urban inflation rate was 22.01per cent. This was 5.85per cent higher compared to the 16.17per cent recorded in December 2021.
“On a month-on-month basis, the urban inflation rate was 1.80per cent in December 2022, 0.31per cent higher compared to 1.50per cent rate in November 2022.
“The corresponding 12 month average for the urban inflation rate was 19.38per cent in December 2022.
“This was 1.86per cent higher compared to the 17.52per cent reported in December 2021,” the NBS said.
It stated that the rural inflation rate in December 2022 was 20.72per cent on a year-on-year basis, 5.61per cent higher compared to the 15.11per cent recorded in December 2021.
It said on a month-on-month basis, the rural inflation rate in December 2022 was 1.63per cent up by 0.33per cent compared to 1.30per cent rate in November 2022.
“The corresponding 12 months average for the rural inflation rate in December 2022 was 18.34per cent.
“This was 1.94per cent higher compared to the 16.40per cent recorded in December 2021,” the NBS stated.
News
NDLEA Intercepts 1.63m Tramadol Pills, Arrests 80-Year-Old Suspect
The National Drug Law Enforcement Agency (NDLEA) has intercepted 1.63 million pills of tramadol concealed in two long trailers heading for Kano as it intensified efforts to dismantle a transnational drug trafficking syndicate operating along the Togo-Benin Republic-Nigeria corridor.
The agency also arrested an 80-year-old suspected drug dealer in Rivers State, a businesswoman linked to cannabis shipments from Canada, a Chadian woman, a couple and other suspects in coordinated operations across Lagos, Edo, Kogi and Rivers states.
The NDLEA’s Director of Media and Advocacy, Femi Babafemi, disclosed this in a statement, yesterday.
According to the statement, the latest intelligence-led operation came barely one week after NDLEA operatives recovered 558,900 pills of tramadol concealed in the false-bottom compartment of a truck that entered Lagos through the Togo-Benin Republic route.
Babafemi said, “Ongoing efforts to dismantle a transnational drug trafficking syndicate smuggling tramadol from Togo, through Benin Republic into Nigeria have yielded another success with the interception of two long trailers used to move One Million Six Hundred and Thirty (1,630,000) pills of tramadol 250mg concealed in fabricated compartments of the trucks across multiple borders into Lagos.”
He added that one of the two trailers was intercepted on July 2 along the Lagos-Ibadan Expressway, where operatives recovered 853,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor.
Babafemi said, “One of the two trucks already heading to Kano was tracked and located on 2nd July 2026 along the Lagos-Ibadan Expressway where NDLEA officers recovered 853,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor of the trailer and arrested the 22-year-old driver Jabir Kabiru.”
He further disclosed that another trailer was intercepted two days later on the same route.
“Two days later, 4th July, NDLEA operatives acting on processed intelligence successfully tracked and recovered the second trailer from the Lagos-Ibadan Expressway while heading to Kano. A total of 777,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor of the truck were evacuated and the 22-year-old driver Muhammed Nuhu arrested,” the statement read.
According to Babafemi, investigations established a link between the three intercepted consignments.
He said, “Investigations revealed that all three trucks and consignments intercepted on 21st June, 2nd July and 4th July belong to the same transnational drug trafficking syndicate operating along the Togo-Benin Republic-Nigeria axis.”
The agency also intercepted 4.70 kilograms of Canadian Loud, a synthetic strain of cannabis, at the import shed of the Murtala Muhammed International Airport, Ikeja, Lagos.
Babafemi said, “Two consignments of Canadian Loud, a synthetic strain of cannabis, with a combined weight of 4.70 kilograms have been intercepted at the import shed of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. The cargoes, which arrived the Lagos airport from Canada in cartons with ‘Odugwu’ boldly written on them, came aboard British Airways and Ethiopian Airlines flights on 24th June and 3rd July respectively.”
He said two cargo agents, Ali Rotimi Samson and Orimolade Oluwagbenga, were initially arrested in connection with the shipments, while another suspect, Edeh Onyeamachi Stanislus, was apprehended after arriving at a logistics company to take delivery of the consignments.
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FG Alerts Nigerians Of N50,000 Allowance Registration Scam
The Federal Ministry of Humanitarian Affairs and Poverty Reduction has denied claims that it has commenced registration for a purported ?50,000 National Support Allowance.
The ministry, in a public notice posted on its official X handle, yesterday, described messages, links and websites advertising the alleged programme as fraudulent.
It urged Nigerians to disregard such claims and verify information only through official government channels.
“The Federal Ministry of Humanitarian Affairs and Poverty Reduction has NOT commenced registration for any ?50,000 National Support Allowance,” the ministry said.
It added, “Disregard fraudulent messages, links and websites claiming otherwise. Verify any info only through official govt channels.”
The alert is in response to a circulating scam flyer that falsely claims the program is ongoing under President Bola Tinubu’s directives.
The fake advertisement, which includes text in Hausa and English, directs victims to a suspicious website (kluspz.com) for applications.
The ministry’s warning comes amid heightened concerns over digital fraud targeting vulnerable populations seeking social support.
Similar scams have previously surfaced around programs like N-Power, prompting questions from citizens in replies to the official post.
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Minimum Wage Review: We’re Battle Ready For Major National Struggle -NLC
The Nigeria Labour Congress (NLC) has expressed its preparedness for a major national struggle for a comprehensive review of the national minimum wage.
NLC President, Comrade Joe Ajaero, hinted at this while making his remarks at the commissioning of the Comrade Godwin Abumisi Pensioners Legacy House and Multipurpose Hall in Abuja.
Ajaero said it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.
He advised workers and pensioners to get prepared for the ideological and economic battles that lie ahead.
According to the NLC president, “The Nigeria Union of Pensioners (NUP) is one of the proud affiliates of the Nigeria Labour Congress. Therefore, your struggle is our struggle, and your welfare remains a priority for the organised labour movement.
“We are currently in the preparatory stages for a major national struggle for a comprehensive review of the national minimum wage.
“However, let me state unequivocally that it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.
“Accordingly, the Nigeria Labour Congress will not only push for a new national minimum wage but will also demand the establishment of a national minimum pension. It is a historical injustice that men and women who devoted their youth, strength and productive years to the service of this nation should be condemned to live below the poverty line after retirement.”
Ajaero noted that the cost of living has risen astronomically as food, healthcare and transportation have become increasingly unaffordable.
“We cannot continue to allow our senior citizens to survive on pensions that have become poverty wages. Every retiree deserves to live with dignity after decades of faithful service to the nation,” he said.
He urged pensioners across the country to remain united and prepared as the process begins, adding: “This Legacy House should not merely be seen as a physical structure; it should become a centre for mobilisation, strategic engagement and solidarity as we prepare for the struggles ahead.”
The NLC president pointed out that the working class has always understood that “those who exploit workers are united in advancing their interests. We too must remain united in defending our collective interests and ensuring that government fulfils its obligations to both serving workers and retirees.”
He urged pensioners across the country to remain united and prepared as the process begins, adding: “This Legacy House should not merely be seen as a physical structure; it should become a centre for mobilisation, strategic engagement and solidarity as we prepare for the struggles ahead.”
The NLC president pointed out that the working class has always understood that “those who exploit workers are united in advancing their interests. We too must remain united in defending our collective interests and ensuring that government fulfils its obligations to both serving workers and retirees.”
He said the completion of the project should serve as a clarion call to all workers and lovers of the masses.
“We must not only build physical structures but also build a strong movement capable of compelling government to honour its commitments,” he said.
Ajaero further stated: “We will continue to demand the immediate payment of all outstanding pension arrears and the implementation of a pension regime that guarantees every retiree a life of dignity and security.
“Together, we shall continue to fight until every Nigerian worker and pensioner receives the justice, respect and welfare they deserve.”
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