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Nigeria’s Inflation Surge: A 26.72% Soar In September 2023
In a startling turn of events, Nigeria witnessed a considerable surge in its inflation rate during the month of September 2023.
The National Bureau of Statistics (NBS) has reported that the inflation rate soared to an alarming 26.72%, marking a 0.92% increase compared to the previous month’s rate, which stood at 25.80%.
This inflation surge has had immediate consequences, with the prices of foodstuffs and goods rising significantly in the Nigerian market.
The NBS’s report indicates that in September 2023, the headline inflation rate witnessed a notable increase of 0.92% points when compared to August 2023.
On a year-on-year basis, the headline inflation rate for September 2023 was 5.94% points higher than the rate recorded in September 2022, which stood at 20.77%.
This data emphasizes the stark contrast in inflation levels between the two years.
Additionally, when comparing month-on-month data, the headline inflation rate in September 2023 was 2.10%, which marked a decrease of 1.08% from the rate recorded in August 2023, which was 3.18%.
This indicates a less rapid increase in average price levels in September compared to August 2023.
The report also provides insight into the percentage change in the average Consumer Price Index (CPI) for the twelve-month period ending in September 2023.
This index stood at 22.90%, showing a significant increase of 5.47% when compared to the 17.43% recorded in September 2022.
In terms of urban inflation, the report reveals that on a year-on-year basis, the inflation rate for September 2023 was 28.68%.
This represented a substantial increase of 7.43% points when compared to the 21.25% recorded in September 2022.
The rural inflation rate for September 2023 was reported at 24.94% on a year-on-year basis, which marked a notable increase of 4.62% points compared to the 20.32% recorded in September 2022.
When looking at the month-on-month data, the rural inflation rate in September 2023 stood at 1.96%, showing a decrease of 1.12% points compared to August 2023, where it was at 3.08%.
The corresponding twelve-month average for the rural inflation rate in September 2023 was 21.79%, indicating a substantial increase of 4.85% when compared to the 16.94% recorded in September 2022.
Inflation Surge
Consumer Price Index (CPI)
Economic Challenges
The Anambra Government has imposed a one-month sanction on Blossom Fount School, Awka, for allegedly selling the position of head prefect during a student election.
This was disclosed in a statement on Saturday by the Commissioner for Education, Prof. Ngozi Chuma-Udeh.
According to the commissioner, the school reportedly demanded N5,000 from each pupil aspiring to become head prefect in the primary section.
Chuma-Udeh condemned the act, describing it as an attempt to “sell the psyche of the children to the highest bidder from the cradle.”
According to her, such practices are unacceptable under the administration of Gov. Chukwuma Soludo.
She said that an investigation was ongoing to examine the school’s broader management practices, with the possibility of further actions based on the findings.
Former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has criticised the Economic and Financial Crimes Commission (EFCC) for the arrest and continued detention of former House of Representatives member, Muhammad Kazaure, describing it as a violation of due process.
In a statement shared on his official X (formerly Twitter) account on Saturday, Atiku said Kazaure’s detention reflects a brazen disregard for the rule of law, accusing the anti-graft agency of operating beyond the limits of the Nigerian Constitution.
Atiku alleged that the EFCC is increasingly becoming a tool for political repression, citing what he called a troubling pattern of lawlessness under the current administration.
He said, “The Economic and Financial Crimes Commission has once again plunged headlong into its well-worn pattern of lawlessness, arresting and detaining citizens with brazen disregard for due process and without offering any justification for its actions.”
Atiku also referenced the recent arrest of social commentator Martins Vincent Otse, popularly known as VeryDarkMan, whose release followed intense public pressure. He suggested that Kazaure’s case fits into a broader trend of state institutions being used to silence dissenting voices.
“We witnessed this same abuse in the unlawful arrest and detention of Mr. Martins Vincent Otse, widely known as VeryDarkMan, whose release was only secured after massive public outrage and pressure.
“Now, the EFCC has targeted Hon. Muhammad Kazaure, a former member of the House of Representatives and an unapologetic critic of the gross misgovernance and failings of the Tinubu administration.
“Abducted in Kano and whisked away to Abuja, Kazaure is presently being held incommunicado, with no formal charge or explanation offered to his family, legal team, or the Nigerian people.
“Let it be stated without equivocation: even if there were legitimate grounds for arresting any citizen, such action must adhere strictly to the rule of law. The EFCC is duty-bound to publicly disclose the reasons for any arrest and must not detain individuals indefinitely under the guise of investigation.
“The Constitution of the Federal Republic of Nigeria is unequivocal on this matter—every detainee must be promptly charged to court or released. By once again trampling on the fundamental rights of a Nigerian citizen, the EFCC is entrenching itself deeper into the mire of impunity and constitutional delinquency.
“It’s deafening silence regarding the arrest of Hon. Kazaure, a man who represented the good people of Kazaure, Roni, Gwiwa, and Yankwashi federal constituency, lays bare the agency’s contempt for transparency and justice.
Suspended Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has ignited social media buzz after posting a 15-second TikTok video set to the trending song Omo Ologo — a track closely linked with President Bola Tinubu.
The video, shared on her TikTok page on May 8, shows the embattled lawmaker smiling and playfully interacting with the camera. Captioned, “Just for fun, song choked,” the post has drawn mixed reactions online, with some interpreting it as a light-hearted moment, while others suspect a deeper political undertone.
The video comes just days after the song Omo Ologo was performed live by Kano-based singer Dauda Kahutu Rarara during a dinner in Katsina State held in honour of President Tinubu, who was on a two-day working visit to assess security in the region.
The song, which blends Hausa and Yoruba, praises Tinubu as a victorious leader who has outlasted his critics.
Akpoti-Uduaghan’s TikTok post follows a series of dramatic exchanges between her and Senate President Godswill Akpabio.
The senator was suspended from the upper legislative chamber in March after accusing Akpabio of sexual harassment — an allegation that triggered heated debate in the National Assembly.
In what appeared to be a bold response to her suspension, Akpoti-Uduaghan recently posted a sarcastic apology video to Akpabio on Facebook, in which she claimed she was sorry “for the crime of maintaining dignity and self-respect.”
The post was accompanied by a short video, further fueling controversy.
Akpabio’s legal team has since approached a federal high court in Abuja, seeking an order compelling the senator to delete the post from her social media pages.
In a counter-affidavit filed by her lawyer, Jubril Okutepa (SAN), Akpoti-Uduaghan’s camp described the motion as an attempt to silence and intimidate her.
The court is expected to rule on the matter on May 12.