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Nigeria’s Inflation Rate Hits 22.22% -NBS

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The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 22.22 per cent on a year-on-year basis in April 2023.
This is according to the NBS Consumer Price Index (CPI) and Inflation Report for April 2023 released in Abuja on Tuesday.
According to the report, the figure is 0.18 per cent points higher compared to the 22.04 per cent recorded in March 2023.
It said on a year-on-year basis, the headline inflation rate in March 2023 was 5.40 per cent higher than the rate recorded in April 2022 at 16.82 per cent.
“This shows that the headline inflation rate (year-on-year basis) increased in April 2023 when compared to the same period in April 2022,’’ it said.
The report showed that contributions of items on divisional level increase in the headline index, are food and non-alcoholic beverages at 11.51 per cent.
While housing, water, electricity, gas and other fuel at 3.72 per cent.
Others are clothing and footwear at 1.70 per cent; transport at 1.45 per cent; furnishings, household equipment and maintenance at 1.12 per cent and education at 0.88 per cent, and health at 0.67 per cent.
“Miscellaneous goods and services at 0.37 per cent; restaurant and hotels at 0.27 per cent; alcoholic beverage, tobacco and kola at 0.24 per cent; recreation and culture at 0.15 per cent and communication at 0.15 per cent.”
It said the percentage change in the All-Items Index in April 2023 was 1.91 per cent on a month-on-month basis.
“This indicates a 0.05 per cent increase compared to the 1.86 per cent recorded in March 2023.
“This means that in April 2023, on average, the general price level was 0.05 per cent higher relative to March 2023.”
The percentage change in the average CPI for the 12 months ending April 2023 over the average of the CPI for the previous 12 months period was 20.82 per cent.
“This indicates a 4.37 per cent increase compared to the 16.45 per cent recorded in April 2022.’’
It said increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.
The report said the food inflation rate in April 2023 was 24.61 per cent on a year-on-year basis, which was 6.24 per cent higher compared to the rate recorded in April 2022 at 18.37 per cent.
“The rise in food inflation is caused by increases in prices of bread and cereals, potatoes, yams and other tubers, and oil and fat, fish, vegetable, fruits, meat, and spirits.”
It said on a month-on-month basis, the food inflation rate in April was 2.13 per cent, which was a 0.06 per cent rise compared to the rate recorded in March 2023 at 2.07 per cent.
The report said the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 20.14 per cent in April 2023 on a year-on-year basis.
“This increased by 5.96 per cent compared to 14.18 per cent recorded in April 2022.’’
“On a month-on-month basis, the core inflation rate was 1.46 per cent in April 2023, which was a 0.78 per cent drop compared to what it stood at in March 2023 at 1.84 per cent.”
According to the report, the highest increases were recorded in prices of gas, passenger transport by Air, liquid fuel, fuels, lubricants for Personal transport equipment, and vehicles spare parts.
“Others are maintenance and repair of personal transport equipment and solid fuel, medical services, and passenger transport by road, among others.
“The average 12-month annual inflation rate was 17.91 per cent for the 12 months ending April 2023, this was 4.23 per cent points higher than the 13.68 per cent recorded in April 2022.”
The report said on a year-on-year basis in April 2023, that the urban inflation rate was 23.39 per cent, which was 6.05 per cent higher compared to the 17.35 per cent recorded in April 2022.
“On a month-on-month basis, the urban inflation rate was 2.05 per cent in April 2023, representing a 0.05 per cent rise compared to March 2023 at 2.00 per cent.’’
It said the corresponding 12-month average for the urban inflation rate was 21.50 per cent in April 2023.
“This was 4.49 per cent higher compared to the 17.01 per cent reported in April 2022.’’
The report said on a year-on-year basis in April 2023, the rural inflation rate was 21.14 per cent, which was 4.82 per cent higher compared to the 16.32 per cent recorded in April 2022.
“On a month-on-month basis, the rural inflation rate in April 2023 was 1.78 per cent, which increased by 0.06 per cent compared to March 2023 at 1.72 per cent.’’
It said the corresponding 12-month average for the rural inflation rate in April 2023 was 20.18 per cent, which was 4.27 per cent higher compared to the 15.91 per cent recorded in April 2022.
On states’ profile analysis, the report showed in April 2023, all items inflation rate on a year-on-year basis was highest in Bayelsa at 26.14 per cent, followed by Kogi at 25.57 per cent, and Rivers at 24.95 per cent.
It, however, said the slowest rise in headline year-on-year inflation was recorded in Borno at 19.60 per cent, followed by Taraba at 19.64 per cent, and Sokoto at 19.90 per cent.
The report, however, said in April 2023, all items inflation rate on a month-on-month basis was highest in Cross River at 3.05 per cent, Bayelsa at 2.92 per cent and Rivers at 2.62 per cent.
“ Katsina at 0.52 per cent, followed by Jigawa at 0.74 per cent and Osun at 0.96 per cent recorded the slowest rise in month-on-month inflation.”
The report said food inflation in April 2023, on a year-on-year basis, was highest in Kogi at 29.50 per cent, followed by Kwara at 29.48 per cent, and Bayelsa at 29.38per cent.
“ Sokoto at 19.55 per cent, followed by Taraba at 20.20 per cent and Jigawa at 20.68 per cent recorded the slowest rise in food inflation on a year-on-year basis.’’
The report, however, said on a month-on-month basis, April 2023 food inflation was highest in Cross River at 4.65 per cent, followed by Bayelsa at 3.61 per cent, and Ekiti at 3.49 per cent.
“ With Jigawa at 0.14 per cent, followed by Katsina at 0.44 per cent and Osun at 0.62 per cent recorded the slowest rise on month-on-month inflation.’’

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 We’ll Be Intentional In Our Support To Improve NYSC Scheme -Fubara

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Rivers State, Sir Siminalayi Fubara, has assured members of the National Youth Service Corps (NYSC) of his administration’s commitment to supporting and strengthening the scheme in the State.

Fubara gave the assurance last Friday at the NYSC permanent orientation camp, Nonwa-Gbam, Tai Local Government Area in the State, during the swearing-in ceremony of 2026 Batch B Stream II orientation course.

Represented by the Permanent Secretary, Cabinet Bureau, Office of the Secretary to the State Government, Dr. Promise Oguzie, the governor said the State Government would remain intentional in providing the necessary support to improve the NYSC scheme and enhance the experiences of corps members deployed to the state.

He charged the corps members to be role models and quality nation-builders in their service to the good people of Rivers State in particular, and Nigeria at large.

“I charge you to be exemplary, dedicated and committed in all you do. Take full advantage of all the camp programmes and activities to enrich yourselves”, he said.

In his welcome address, the State Coordinator of NYSC in Rivers State, Mr. Moses Oleghe, urged corps members to see their deployment to Rivers State as a “veritable opportunity to make meaningful contribution to the growth of the State in particular and Nigeria at large.”

He further charged them to serve with all sense of “integrity,  discipline, and the fear of God, especially when they will be engaged as INEC ad-hoc staff that will conduct the 2027 general elections.”

A total of 3,584 corps members composed of 1,421 males and 2,163 females were sworn in by the Chief Judge of Rivers State, who was represented by Justice Godspower Aguma.

 

 

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Fubara: Nigeria Needs God-fearing Leaders To Make Progress  …Applauds Seventh Day Adventist

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Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.

The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of  the church at Government House, Port Harcourt.

Fubara who hailed  the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria,  expressed delight  that the  Church had over the years,  been investing in education at various levels and currently runs two universities in the country.

He commended the church for not only using its  institutions to spread the gospel of  Christianity but to groom future leaders for the country.

According to him, religion should not be just about defending one’s faith, but also  making meaningful impact on the lives of the people.

He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria  in the task of producing not only educated people but a breed of God-fearing  leaders.

“Our country is where  it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation,  you’ll go beyond the line and that is what has brought us to where we are today.

“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.

Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society,  has also given rise to other problems such as social  inequality, poverty, corruption  and criminality. According to him, Nigeria needs a  system where the average parent could afford  quality education for their children and a  guarantee that upon graduation, the average  child  will have the  capacity to compete favourably with anybody, anywhere in the world.

“If we have a  situation where the little money that you’re being  paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices  we have today won’t be there,” he said.

Governor Fubara expressed appreciation to  the  delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.

Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s  ministers will  be undergoing  an  empowerment programme to further equip  them for the task of herding their flocks and serving the society.

He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.

Kohler disclosed that the Church has over twenty -four million  (24,000,000) members and more than 182,000 places of worship,  spread across 212 countries of the world.

 

 

 

 

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Rivers Assembly Approves Fubara’s 2026–2028 MTEF

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The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.

 

This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.

 

The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.

 

Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.

 

Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.

 

He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.

 

The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.

During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.

 

The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.

 

Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.

 

Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.

 

The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.

 

According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.

 

Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.

 

The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.

 

King Onunwor

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