Headlines
Higher Food Prices Drive Nigeria’s Inflation to 15.92%, Highest in 5 Months
By Derrick Bangura
Nigeria’s Consumer Price Index (CPI) which measures inflation increased to 15.92 per cent (Year on year) in March 2022 compared to 18.17 per cent in March 2021, the National Bureau of Statistics (NBS) said on Friday.
This is the highest level inflation had attained since October 2021, when it was recorded at 15.99 per cent before dropping to 15.40 per cent in November, 15.63 per cent in December, 15.60 per cent in January and 15.70 per cent February.
Month on month, the headline index increased by 0.11 per cent to 1.74 per cent in March compared to 1.63 per cent in February.
According to the CPI figures for March, this implied that on annual comparison, the headline index slowed down in March 2022 when compared to the same month in the previous year.
Nonetheless, month-on-month, the food sub-index increased to 1.99 per cent in March, up by 0.12 per cent from 1.87 per cent in February.
According to the statistical agency, month on month, food inflation was highest in Anambra with 3.78 per cent, followed by Niger with 3.60 per cent and Zamfara 3.31 per cent in the month under review.
On the other hand, Oyo recorded the slowest rise on with -0.19 per cent followed by Jigawa and Ekiti with -0.10 per cent and 0.41 per cent respectively.
However, countrywide, the rise in the food index was caused by increases in prices of bread and cereals, food product, potatoes, yam and other tuber, fish, meat, oils and fats.
The average annual rate of change of the food sub-index for the 12-month period ending March 2022 over the previous 12-month average was 19.21 per cent or 0.48 per cent decrease from the 19.69 per cent recorded in February.
Month on month, the core sub-index stood at 0.98 per cent in March, down by 0.35 per cent compared to 1.33 per cent in February.
The highest increases were recorded in prices of gas, garments, cleaning, repair and hire of clothing, shoes and other foot wear, clothing materials, other articles of clothing and clothing accessories, liquid fuel, fuels and lubricants for personal transport equipment and other services in respect of personal transport equipment.
Year on year, the core index , which excludes the prices of volatile agricultural produce rose to 13.91 per cent in March 2022, up by 1.24 per cent when compared to 12.67 per cent in March the previous year.
In addition, the Urban inflation rate also rose month on month to 1.76 per cent in March 2022, up by 0.11 per cent compared to 1.65 per cent in February.
The rural index rose to 1.73 per cent in March, an increase of 0.12 per cent from 1.61 per cent in February.
Year on year, urban inflation increased to 16.44 per cent in March, showing a decline of 2.32 per cent compared to 18.76 per cent in 2021.
In the same vein, rural inflation stood at 15.42 per cent in March compared to 17.60 per cent in March 2021.
President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
Tinubu arrives Katsina to receive Buhari’s body for burial
“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader
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