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Nigeria’s inflation rate hits 33.95% in May -NBS
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The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 33.95 per cent in May 2024.
The NBS said this in its Consumer Price Index (CPI) and Inflation Report for May, which was released on Saturday in Abuja
According to the report, the figure is 0.26 per cent points higher compared to the 33.69 per cent recorded in April 2024.
It said on a year-on-year basis, the headline inflation rate in May 2024 was 11.54 per cent higher than the rate recorded in May 2023 at 22.41 per cent.
In addition, the report said, on a month-on-month basis, the headline inflation rate in May 2024 was 2.14 per cent, which was 0.15 per cent lower than the rate recorded in April 2024 at 2.29 per cent.
“This means that in May 2024, the rate of increase in the average price level is less than the rate of increase in the average price level in April 2024.”
The report said the increase in the headline index for May 2024 on a year-on-year basis and month-on-month basis was attributed to the increase in some items in the basket of goods and services at the divisional level.
It said these increases were observed in food and non-alcoholic beverages, housing, water, electricity, gas, and other fuel, clothing and footwear, and transport.
Others were furnishings, household equipment and maintenance, education, health, miscellaneous goods and services, restaurants and hotels, alcoholic beverage, tobacco and kola, recreation and culture, and communication.
It said the percentage change in the average CPI for the 12 months ending May 2024 over the average of the CPI for the previous corresponding 12-month period was 29.06 per cent.
“This indicates a 7.86 per cent increase compared to 21.20 per cent recorded in May 2023.”
The report said the food inflation rate in May 2024 increased to 40.66 per cent on a year-on-year basis, which was 15.84 per cent higher compared to the rate recorded in May 2023 at 24.82 per cent.
“The rise in food inflation on a year-on-year basis is caused by increases in prices of Semovita, Oatflake, Yam flour prepackage, Garri, and Bean,
“Others are Irish Potatoes, Yam, Water Yam, Palm Oil, Vegetable Oil, Stockfish, Mudfish, Crayfish, Beef Head, Chicken-live, Pork Head, and Bush Meat.”
It said on a month-on-month basis, the food inflation rate in May was 2.28 per cent, which was a 0.22 per cent decrease compared to the rate recorded in April 2024 at 2.50 per cent.
“The fall in food inflation on a month-on-month basis was caused by a decrease in the average prices of Palm Oil, Groundnut Oil, Yam, Irish Potato, and Cassava Tuber.
“Others are Wine, Bournvita, Milo, and Nescafe.”
The report said that “all items less farm produce and energy’’ or core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 27.04 per cent in May on a year-on-year basis.
“This increased by 7.21 per cent compared to 19.83 per cent recorded in May 2023.’’
“The exclusion of the PMS is due to the deregulation of the commodity by removal of subsidy.”
It said the highest increases were recorded in prices of Actual and Imputed Rentals for Housing Class, Bus Journey intercity, and Taxi Journey per drop.
“Others are Accommodation Service, X-ray photography, Consultation Fee of a medical doctor, Laboratory service, among others.”
The NBS said on a month-on-month basis, the core inflation rate was 2.01 per cent in May 2024.
“This indicates a 0.18 per cent decrease compared to what was recorded in April 2024 at 2.20 per cent.”
“The average 12-month annual inflation rate was 23.45 per cent for the 12 months ending May 2024, this was 5.34 per cent points higher than the 18.11 per cent recorded in May 2023.”
The report said on a year-on-year basis in May 2024, the urban inflation rate was 36.34 per cent, which was 12.61 per cent higher compared to the 23.74 per cent recorded in May 2023.
“On a month-on-month basis, the urban inflation rate was 2.35 per cent, which decreased by 0.32 per cent compared to April 2024 at 2.67 per cent.’’
The report said on a year-on-year basis in May 2024, the rural inflation rate was 31.82 per cent, which was 10.63 per cent higher compared to the 21.19 per cent recorded in May 2023.
“On a month-on-month basis, the rural inflation rate was 1.94 per cent, which increased by 0.024 per cent compared to April 2024 at 1.92 per cent.’’
On states’ profile analysis, the report showed that in May, all items’ inflation rate on a year-on-year basis was highest in Bauchi at 42.30 per cent, followed by Kogi at 39.38 per cent, and Oyo at 37.73 per cent.
It however, said the slowest rise in headline inflation on a year-on-year basis was recorded in Borno at 25.97 per cent, followed by Benue at 27.74 per cent, and Delta at 28.67 per cent.
The report, however, said in May 2024, all items inflation rate on a month-on-month basis was highest in Kano at 4.24 per cent, followed by Gombe at 4.06 per cent, and Bauchi at 3.75 per cent.
“Ondo at 0.57 per cent, followed by Kwara at 1.19 per cent and Yobe at 1.24 per cent recorded the slowest rise in month-on-month inflation.”
The report said on a year-on-year basis, food inflation was highest in Kogi at 46.32 per cent, followed by Ekiti at 44.94 per cent, and Kwara at 44.66 per cent.
“Adamawa at 31.72 per cent, followed by Bauchi at 34.35 per cent and Borno at 34.74 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, food inflation was highest in Gombe at 4.88 per cent, followed by Kano at 4.68 per cent, and Bayelsa at 3.62 per cent.
“While Ondo at 0.02 per cent, followed by Yobe at 0.95 per cent and Adamawa at 1.02 per cent, recorded the slowest rise in inflation on a month-on-month basis.”
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Enforce Discipline In Legislative Service, Fubara Charges New RSHA Commission
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Rivers State Governor, Sir Siminalayi Fubara, has charged newly sworn-in chairman and members of the State House of Assembly Service Commission to achieve greater productivity, promote highest standard and insist on best practices in the discharge of Legislative services.
Governor Fubara also urged them to ensure that parliamentary staff are put through disciplinary conducts in the discharge of their duties in the service.
Governor Fubara gave the charge shortly after the chairman and members of the Rivers State House of Assembly (RSHA) Service Commission were sworn-in at the Executive Chamber of Government House in Port Harcourt, last Friday.
The Governor also sworn-in the chairman and members of the Rivers State Local Government Service Commission.
Hon Tamunosisi Gogo-Jaja, is the chairman of RSHA, with Dr Kennedy Ebeku, Hon. Soberekon Clark, Hon. Jones Ogbonda, and Hon Kingston Sylvanus as members.
For the Rivers State Local Government Service Commission, Hon GoodLife Ben will serve as the chairman, with Chief Emmanuel G. Jaja, Ms. Betty Warmate, Barrister Jerome Chimenem, Hon Prince O. Ohochukwu, Barrister Philip Okparaji, and Christian Amadi as members.
Governor Fubara explained that the constitution and swearing-in of the respective commissions were delayed with the hope that all former members of the political block will come back together but quickly added that such expectation is dashed now as governance has to move on.
He said: “As it stands now, our position is very clear. The ship that we are onboard is clear, and the activities of governance have to continue.
“So, this swearing-in is to give these two units of government – particularly, the House of Assembly Service Commission, a formal commission so that you can start carrying out the activities of promotion, discipline and every other thing that has to do with the legislative staff activity.”
Governor Fubara emphasised: “This assignment is not business as usual. You have to take full charge, and you have to ensure that there is discipline in the service.”
Speaking on the Local Government Service Commission, Governor Fubara said an acting Chairman was previously appointed to hold brief while the situation was being studied but quickly added that as it stands now, a full fledged commission has to be constituted to steer affairs.
Governor Fubara stated that the various Local Government Councils have been mandated to commence payment of the N85,000.00 Minimum Wage to their workers.
However, Governor Fubara said that mandate had met with series of complaints about ghost workers or inflated payroll staff list, which required proper scrutiny in order to ensure that only genuine workers benefit.
He said, “You must ensure that you support the Local Government Chairmen to get rid of those fake names in the payroll, so that when they implement the N85,000.00 Minimum Wage, it will not be too much burden on them.
“I am not saying you should go and dismiss people who are genuinely employed. Hear me very well: there must be proper scrutiny to be sure that whoever is there must be a genuine civil servant employed by the commission, and must have met all the conditions.”
Governor Fubara also directed the commission to address the issue of staff stagnation on a particular grade level, which is an ugly practice, and make sure those due promotion truly benefit from statutory progression in the service.
He said, “The second side is, you have the issue of promotion, you must also ensure that they are adequately promoted so that they can start enjoying like their counterparts in the mainstream.
“There is too much dragging of their promotion, for somebody to be on Grade Level 4 for over 30 years is not good. It is not good news.”
Governor Fubara maintained: “I believe strongly that you will not allow yourselves to be corrupted like those stories that we used to hear. Make sure that there is acceptable level of discipline and standard in the Local Government Service Commission.
“I also believe strongly that you are already prepared for this assignment, and since you are prepared, I will charge you to go do what you know how to do best. Be assured that the government will give you all the necessary support.”
Governor Fubara noted that the task before them could seem Herculean but they should be assured of support from his administration to drive the assignment given to them to reckonable success.
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Be Innovative In Waste Management, Fubara Tasks RIWAMA ….. Inaugurates Six-Member Board
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Rivers State Governor, Sir Siminalayi Fubara, has said that the open dumping of wastes has to be replaced with a more innovative and efficient disposal method so that wastes can be taken off the streets and turned into income-yielding ventures.
Governor Fubara made the assertion while giving charge to the newly constituted Board of Directors of the Rivers State Waste Management Agency (RIWAMA) and its Managing Director at Government House in Port Harcourt, last Friday.
The Board members included Engr. Edward Namiesimagh as the chairman, while Hon. Bishop Best, Dr. Ipalibo Sogules, Richard Mazi, and Civian Y. Nwibari are members, with Hon. Orukwem Amadi-Oparaeli as the Managing Director.
Governor Fubara said waste disposal and management have remained a major global concern, adding that over the years, successive administrations in the State had struggled to take wastes off the streets but ended up taking them to other dumpsites where they constitute nuisance and environmental hazards.
He said, “Today, I am here putting a team together to look at these challenges differently. Let it not be the regular pattern whereby at the end of the month, you come to collect money from me for payments.
“Don’t indulge in appointing your friends as sweepers, evaluators of debris, then you start building hotels, or buying big cars. Let us go beyond that and tap into the potentials of waste management.
“It is an area in this world that there is so much money in. It is an area that creates employment, and generates huge revenue. It is not just depending on what I will give to you. Consider what change you’ll bring to the work, that’s what I want to see in Rivers State.”
Governor Fubara told them that they were carefully selected because of the experiences they had garnered in their previous public assignments, and urged them to replicate their successes on a bigger scale with the new appointment.
The Governor advised them to work assiduously to bring back the beauty of Port Harcourt with effective waste disposal drive, and ensure the city is clean and green to reflect its old Garden City status.
Governor Fubara emphasised: “If not for our effort, today, some people could have even changed it to become Garbage City. But God forbid, it is not going to be in our own time.
“I want you to understand that I feel very unhappy with the sight I see. When you are driving into Port Harcourt, one of the first things that will welcome you is the waste dump that you see along the Obiri-Ikwerre-Airport Road. I don’t feel happy about it.
“Your first task should be to relocate it. That particular place needs to be completely closed because it is the entrance to the city. You need to get a new place where we can relocate our wastes.”
Governor Fubara urged them to be more responsible as they discharge their assignment, saying that it is more important to see results than being merely preoccupied with the aura of office.
The Governor warned that he will not hesitate to relieve anyone found wanting, and return the agency back to the era of a sole administrator running the affairs of the agency.
He noted, “This team cuts across all the Senatorial Districts, so that whatever you are going to do there, you ensure it spreads. While you are also carrying out this job, let it be known to the world that the interest of everybody in the State is accommodated.
“It shouldn’t be one-sided. Make sure that all our supporters who have the capacity and competence to do little jobs in the refuse area are also accommodated. I am serious. I have no doubt that you are going to impress us. So, I charge you to do all you can to make sure that the face of Port Harcourt changes when it comes to the issue of refuse.”
Governor Fubara told them to be good ambassadors of his administration as they interface with members of the public while also changing the face of refuse management in the State.
In his acceptance speech, Chairman of Rivers State Waste Management Agency (RIWAMA), Engr. Edward Namiesimagh, expressed appreciation to the Governor, on behalf of members of the Board, for finding them worthy to handle such difficult but surmountable task of keeping Port Harcourt clean.
He said, “When I see the calibre of people you assembled, all of us are happy, and I assure that with our period of experience in our fields and politics and interaction with people and the zeal that comes with this job, we assure you that we will do our best to make sure that the policy of restoring Port Harcourt to its lost glory is achieved with your support.”
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Fubara Graces Agric Commissioner’s Wedding At Ciwa
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Rivers State Governor, Sir Siminalayi Fubara, on Saturday, graced the solemnization of Sacrament of Matrimony between Engr Victor Kii, and his heartthrob, Engr Mercy Mankwe.
Engr Kii is the Rivers State Commissioner for Agriculture.
The wedding ceremony was held at Our Lady of the Holy Rosary Chaplaincy, Catholic Institute of West Africa (CIWA), along the Port Harcourt-Aba Expressway, Rumuibekwe in Obio/Akpor Local Government Area.
In his Homily, the Chief Celebrant, Bishop of the Catholic Diocese of Sokoto, Most Rev Matthew Hassan Kukah, said marriage is an enduring union, ordained by God for two persons – man and woman – who have decided in love to live their lives together.
Bishop Kukah stated that people in such Christian marriage should know that they are in an indissoluble union, bounded by faith, and advised them to gladly make personal sacrifices in tolerance and care for each other so that they can have a healthy, successful and rewarding life together.
In his vote of thanks, co-celebrant, Very Rev Monsignor Pius Kii, showered commendations on the Governor for his fatherly support to the family, and the numerous landmark achievements in various sectors across the State.
The clergy and the church took the opportunity to pray for the success and good health of Governor Fubara and his administration, and urged God to protect, guide and defend him at all times.
The church also presented 50th birthday cake and gifts to the Governor, and also sang birthday songs to accentuate the celebration.
Highlights of the event were the signing of the marriage register by the new couple, Victor and Mercy, and the cutting of the 50th Birthday cake by the Governor.
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