The National Bureau of Statistics (NBS) said today that the headline inflation rate increased year-on-year (YoY) by 0.98 percentage points to 29.9 per cent in January 2024 from 28.92 per cent in December 2023. The Bureau disclosed this in its Consumer Price Index, CPI, report for January 2024, noting that food inflation also increased to [&hel...
•Collapsed building The Building Collapse Prevention Guild (BCPG) has said there are feelers that cement manufacturers are planning an upward review of cement prices in early January 2024. In the interest of safety in the Nigerian built environment and in the general interest of the public, the BCPG appealed to President Bola Ahmed Tinubu to [...
An enterpreneur, Ms Abimbola Adeyemi has called on the Tinubu-led federal government to declare a state of emergency in agriculture to address the increasing prices of food items. Adeyemi, who is the Chief Executive Officer of Crown Fit Cocktails and More, said it was regrettable that Nigeria despite being blessed with vast arable land and [&h...
•Vendors display Christmas items Hopes of a fun-filled Yuletide celebrations, with plenty to eat and drink, appear to have been dashed for millions of Nigerians, following scarcity of cash and high cost of goods and services. Across Lagos and other parts of the country, many Nigerians wail about their inability to access cash, which has [&hell...
The Newspaper Proprietors’ Association of Nigeria (NPAN), the umbrella body of all newspapers in Nigeria, has announced an increase in the cover prices of newspapers, with effect from January 2, 2024. In a statement by NPAN’s executive secretary, Mr. Feyi Smith, the decision to increase the cover prices became inevitable owing to rising produc...
•Barrels of crude oil Oil prices shot up nearly three percent today as more companies suspended shipping through the Red Sea following attacks on vessels by Yemen’s Iran-backed Huthi rebels. Meanwhile US stocks sought to continue last week’s rally on expectations that the US Federal Reserve will cut interest rates next year, although it appear...
•Oyintiloye Olatunbosun Oyintiloye, a chieftain of the All Progressives Congress (APC) in Osun State, has appealed to President Bola Tinubu to urgently intervene in the hike in prices of essential drugs in the country. Oyintiloye, who made the appeal while speaking with newsmen yesterday in Osogbo, the state capital, said that many Nigerians a...
Broadcasting company Multichoice has jacked up the prices of its offerings in Nigeria days after announcing a $72m loss in its financial statement for the third quarter of the year. Checks on the company’s reviewed price list showed a 20 per cent per cent hike in the company’s packages across the board, reports Saturday PUNCH. […]
There is growing apprehension in the manufacturing and aviation sectors that the rising costs of diesel and aviation fuel will lead to the total collapse of more industries and airlines operating in the country. In Kano, Ogun, Edo, Delta, Kogi, Lagos, and Kwara states, the Manufacturers’ Association of Nigeria told our correspondent yesterday ...