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UK inflation raises to 41-year peak

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UK inflation raises to 41-year peak

British inflation has jumped to a 41-year high on soaring energy and food bills in a worsening cost-of-living crisis, data showed Wednesday on the eve of a key budget.

The Consumer Prices Index hit 11.1 percent in October, reaching the highest level since 1981, the Office for National Statistics (ONS) said in a statement.

That compared with 10.1 percent in September, which matched the level in July and had already been the highest in 40 years.

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Domestic fuel bills rocketed again despite the UK government’s energy price freeze as the market faced more fallout from key producer Russia’s invasion of Ukraine.

The October figure beat market expectations of 10.7 percent and was higher than the Bank of England’s forecast peak.

“Rising gas and electricity prices drove headline inflation to its highest level for over 40 years, despite the Energy Price Guarantee,” said ONS chief economist Grant Fitzner.

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Over the last year, gas prices have leapt by 130 percent and electricity prices by 66 percent, according to the ONS.

Runaway inflation comes despite state energy support, which sought to limit annual energy bills at an average of £2,500 per year.

Finance minister Jeremy Hunt blamed Russian President Vladimir Putin’s war in Ukraine for spiking prices, as well as the easing of pandemic curbs.

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– ‘Tough’ decisions –
Hunt is expected Thursday to hike taxes and slash spending, despite the cost-of-living squeeze, as Prime Minister Rishi Sunak attempts to fix economic chaos wrought by predecessor Liz Truss.

“The aftershock of Covid and Putin’s invasion of Ukraine is driving up inflation in the UK and around the world,” Hunt said Wednesday.

“This… is eating into pay cheques, household budgets and savings, while thwarting any chance of long-term economic growth.”

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The Ukraine conflict has also sent inflation soaring to the highest level in decades worldwide, sparking economic turmoil.

That has forced major central banks to raise interest rates, risking the prospect of recession as higher borrowing costs hurt businesses and consumers.

The Bank of England this month sprang its biggest rate hike since 1989 to combat sky-high inflation — and warned the UK economy may experience a record-long recession until mid-2024.

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The BoE lifted borrowing costs by 0.75 percentage points to 3.0 percent — the highest since the 2008 global financial crisis — to cool UK inflation that it saw peaking at almost 11 percent.

Hunt added that “tough” decisions would be needed in Thursday’s budget to help the BoE meet its 2.0-percent inflation target.

“We cannot have long-term, sustainable growth with high inflation,” he said.

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The UK has meanwhile been blighted by strikes this year, as workers protest over wages that have failed to keep pace with surging inflation.

The retail prices index — an inflation measure which includes mortgage interest payments and is used by trade unions and employers when negotiating wage increases — rocketed to 14.2 percent in October from 12.6 percent in September, data showed Wednesday.

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Plateau Governor Sets Up Committee to Probe Two Decades of Attacks

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Plateau State Governor, Caleb Mutfwang, has inaugurated a 10-member fact-finding committee tasked with uncovering the root causes of the persistent attacks plaguing communities across the state.

Speaking during the inauguration ceremony on Tuesday in Jos, Governor Mutfwang charged the committee with conducting a comprehensive review of violent incidents from 2001 to date. “We thought that we should set up this high-powered fact-finding committee to look at the incessant attacks on our communities,” the governor stated.

According to Mutfwang, the committee is expected to perform an in-depth assessment of the recurring security breaches, determine the number of affected communities, and assess the extent of damage done over the years. “We want to understand the root causes and propose actionable recommendations for lasting peace, justice, and stability in the affected communities,” he said.

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The committee’s mandate also includes establishing the number of casualties, identifying possible perpetrators and their motives, and uncovering potential routes used by bandits to access Plateau State. “Identify possible routes of bandits into the state and recommend measures to limit their access,” the governor added.

Chairman of the committee, retired Maj.-Gen. Rojas Nicholas, thanked the governor for the confidence reposed in the members. He pledged that the committee would approach its assignment with fairness and commitment. “We will do our best to produce a report that would befit its assignment,” Nicholas assured.

The committee is expected to submit its findings and recommendations in due course, with hopes that the report will provide a pathway to durable peace and security in the state.

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British-Nigerian Makes History as London Mayor — A Source of National Pride, Says NGIJ President

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President of the Nigerian Guild of Investigative Journalists (NGIJ), Mr. Abdulrahman Aliagan, has praised British-Nigerian Bright Opeyemi for becoming the youngest serving Mayor in the London Borough of Barking and Dagenham.

In an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, Aliagan described Opeyemi’s rise as a landmark achievement in British political history and a proud milestone for Nigeria.

“The 29-year-old British-born daughter of Nigerian immigrants was officially inaugurated on May 16 as Mayor,” Aliagan noted.

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“She now holds the title of First Citizen of the London Borough of Barking and Dagenham; a borough known for its diversity, resilience, and vibrant youth population.

“Opeyemi’s ascension is not just a personal victory, but a shining example of the excellence of the Nigerian diaspora and a source of national pride.

“She grew up in a family devoted to community building and social impact,” he added.

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Aliagan highlighted that Opeyemi was elected as a councillor at just 22 and has spent the past seven years advocating for youth empowerment, social inclusion, and economic opportunity in her borough.

“Her rise to the mayoralty is the result of years of tireless service and stands as a testament to her character, competence, and credibility,” he emphasized.

He further stated that Opeyemi’s leadership represents a shared story—one rooted in resilience, achievement, and progress in multicultural societies.

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“Her victory is especially symbolic as it challenges stereotypes around youth disengagement from politics.

“She epitomises a new wave of dynamic, inclusive, and globally minded leadership,” Aliagan said.

According to him, Opeyemi’s journey reaffirms the positive impact of Nigerian values such as education, resilience, and service when integrated into international systems.

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“She proudly carries her Nigerian heritage with dignity. Her success is proof that culture and identity are assets, not obstacles, in public leadership,” he said.

Aliagan also noted that her story offers a refreshing counter-narrative to the often negative portrayal of Nigeria in global media.

“Her election should serve as a wake-up call. It reflects the untapped potential of our youth and diaspora community,” he added.

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He called on Nigerian institutions and the government to draw inspiration from Opeyemi’s accomplishment by investing in youth leadership and incorporating diaspora voices into national policymaking.

“For young Nigerians, especially women, Opeyemi is living proof that neither age, gender, nor immigrant roots are barriers to greatness,” Aliagan concluded.

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NUJ Condemns Armed Attack on Rhythm 94.7FM, Calls It an Assault on Press Freedom

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The Nigeria Union of Journalists (NUJ), Bayelsa State Council, has strongly condemned the recent armed attack on Rhythm 94.7FM, a privately owned radio station based in Yenagoa, describing the incident as a grave threat to press freedom.

In a statement issued to newsmen on Monday in Yenagoa, the NUJ Bayelsa Chairman, Comrade Tonye Yemoleigha, and Council Secretary, Comrade Stanley Imgbi, decried the assault, calling it “a rape on the entire media family in Bayelsa and on press freedom.”

According to the statement, the radio station was attacked on two separate occasions—Saturday, May 17, at about 2:10 p.m., and Sunday, May 18, at 4:40 p.m.—by unidentified gunmen who carted away valuables during the operations.

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“Some of the valuables collected include mobile phones, recorders and operational gadgets belonging to staff on duty,” Yemoleigha disclosed.

The NUJ Chairman called on security agencies, particularly the Bayelsa State Commissioner of Police, to ensure that the perpetrators of the crime are identified and brought to justice.

He also urged the police to station a patrol van near the premises of the media house, given its isolated location, similar to measures taken in other strategic points across Yenagoa.

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Yemoleigha, however, expressed relief that no lives were lost during the attacks.

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