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Inflation spikes to 13.71% as food prices soar, more Nigerians drop into poverty

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The Nigerian inflation rate further spiked to 13.71 per cent in September 2020 indicating 0.49% point higher than 13.22% recorded in August 2020. This means that the cost of living in Nigeria is getting higher and more Nigerians are dropping into the poverty line. The rise in inflation rate is contained in the Consumer Price Index report by the National Bureau of Statistics (NBS).  According to the report, Nigeria has endured persistent increase in inflationary rate, growing from 12.13% in January to 13.71% in September, which is highest recorded in 30 months. This is coming in the face of economic depression caused by COVID-19 where several Nigerians have lost their jobs and those living on retirement benefit and savings are constrained by monetary policy that has reduced drastically earnings from fixed income. 

On a month-on-month basis, the headline index increased by 1.48% in September 2020. This is 0.14% rate higher than the rate recorded in August 2020. Also, the urban inflation rate increased by 14.31% in review period from 13.83% recorded in August 2020, while the rural inflation rate increased by 13.14% in September 2020 from 12.65% in August 2020.  A closely watched component of the inflation index, rose by 16.66% in September 2020, 0.66% increased compared to 16% recorded in the previous month, while on a month-on-month basis, the food sub-index rose by 1.88% compared to 1.67% recorded in August 2020. 

Meanwhile, the rise in the food index was caused by increases in prices of Bread and Cereals, Potatoes, Yam and other tubers, Meat, Fish, Fruits and Oils and fats.  The Core inflation also known as “All items less farm produce”, which excludes the prices of volatile agricultural produce stood at 10.58% September 2020, up by 0.06% when compared with 10.52% recorded in August 2020.  The highest increases were recorded in prices of Passenger transport by air, Medical services, Hospital services, Pharmaceutical products, Passenger transport by road, Motor cars, Vehicle spare parts, Maintenance and repair of personal transport equipment, Repair of furniture and Paramedical services.  Northern states in Nigeria top the list of States that recorded highest inflation in the month of September, with Bauchi State leading the list at 17.85%, closely followed by Zamfara at 17.42% and Kogi State at 16.66%. Others on the list are Yobe (15.71%) and Plateau (15.61%). 

On the flip side, Kwara State recorded the least inflation rate at 10.53%, followed by Abuja at 10.59%, Lagos (11.19%), Ondo and Cross River State at 11.76% and 11.81% respectively.  Inflations rate at 13.71% and food inflation at 16.66% indicates that the purchasing power of consumers is consistently and rapidly declining on monthly basis, despite income of most Nigerians pegged at a fixed level while others earning lower income. 

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Customs seizes multi million-naira petroleum products in Adamawa

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The Nigeria Customs Service under ‘Operation Whirlwind’ has seized petroleum products worth N181.6 million in eight weeks between the Nigeria and Cameroon borders.

ACG Kolapo Oladeji, national coordinator of Operation Whirlwind, disclosed this at a news conference on Thursday in Yola. Mr Oladeji said the seizures were made across various smuggling flashpoints in Adamawa in 55 separate operations.

“This operation is geared towards energy and food security to foster economic growth in line with the core mandates of the President of the Federal Republic of Nigeria, Bola Tinubu. In line with these mandates, the Operation Whirlwind Zone ‘D’ had repositioned all its machinery across the area of its responsibilities and ensured that the border became airtight,” he said.

He warned the smugglers to stop such acts and solicited the continued support and cooperation of all stakeholders in the state’s socioeconomic development. “We will ensure that the supply chains of these economic wreckers are truncated in accordance with enabling laws. This fight has no doubt helped in transforming the nation’s economy and strengthening the security of our borders,” he said.

He further said that the seized petroleum products would be auctioned to the public. Abidemi Adewumi-Aluko, assistant legal adviser of the attorney general of the federation, described the auction as a symbol of reclaiming resources to ensure that the benefit of petroleum remained in Nigeria. She said that such offences attracted life imprisonment because they threatened national security. NAN

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Chevron to join Nigeria oil licence auction, plans rig deployment in 2026

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Chevron said on Friday it will participate in Nigeria’s next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa’s top energy producer.
Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company aims to grow its footprint in Nigeria, citing improved regulatory clarity under the Petroleum Industry Act, PIA.

“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz told reporters after meeting the upstream regulator. Nigeria’s licensing rounds are part of efforts to attract investment and boost output after years of underinvestment. The 2025 round will offer 50 fields through a digital platform, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said. TotalEnergies has also expressed interest in joining an auction.
Chevron recently agreed to acquire a 40% stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies and is seeking regulatory approval to accelerate development.

Swartz said it plans to bring in a rig in late 2026 to drill a newly discovered resource near Agbami and extend leases on existing assets. Swartz added that Chevron had recorded no oil theft or sabotage in the past year, the longest period without disruptions in its Nigerian operations, a sign of improved security in the sector. Reuters

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Don’t patronise touts, immigration personnel available 24/7—CGIS

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Comptroller General of the Nigeria Immigration Service NIS, Kemi Nandap, on Friday urged Nigerians to shun touts and middlemen when applying for passports or other immigration services, insisting that the Service operates round-the-clock channels to assist citizens directly and transparently.

Nandap made the call in Abuja while delivering the keynote address at the fourth-quarter Nationwide Sensitization Campaign against corruption and for improved service delivery.

The campaign, themed “Innovating for Transparency and Efficiency: Strengthening Service Delivery and Combating Corruption Through Reforms,” highlights the NIS’ ongoing efforts to modernize its operations and eliminate corrupt practices.

Addressing participants, the Immigration chief said the era of relying on agents or informal handlers should be over, as the Service has put in place fully digital, citizen-focused systems that allow applicants initiate and track their processes from the comfort of their homes.

She stressed that the NIS has functional 24-hour call lines, an active call centre, constantly monitored emails and social-media channels, all designed to ensure citizens are attended to promptly and without intermediaries.

“You don’t have to go to a tout, you don’t have to go to an agent. You can sit in the comfort of your home and apply for most of our facilities. Once you avoid putting yourself at the mercy of someone, you stay in control of your application and can always reach us at any time”, she stated. 

Nandap noted that recent reforms, including automated passport application processes, biometric-based verification, expanded digital architecture and streamlined service-centre operations, have significantly reduced delays, improved transparency and minimised opportunities for extortion.

She explained that passport processing timelines have improved across multiple commands following the rollout of automated scheduling and digital communication platforms.

The Comptroller General also emphasized that transparency remains the foundation of effective immigration management.

She highlighted enhanced internal audits, stricter enforcement of ethical codes and redesigned workflows as key elements of the NIS’ anti-corruption strategy.

With digital payments and automated checkpoints reducing cash interactions, she said the Service is committed to stamping out malpractice at all levels.

Nandap further disclosed that the NIS has deepened collaboration with sister agencies, civil-society groups, international partners and the diplomatic community to align operations with global border-management standards.

These partnerships, she said, are helping to harmonise processes, promote accountability and support ongoing reforms.

She appealed to citizens to familiarise themselves with official procedures, follow approved channels and use the Service’s feedback platforms—including suggestion boxes, hotlines and online desks—to report challenges or offer recommendations. “We are here for Nigerians. Tell us how to serve you better,” she said.

The Immigration CG also paid tribute to officers who lost their lives in the line of duty in Mogolu, Tuga, Tula and Niger State, calling their deaths a painful reminder of the risks faced daily by immigration personnel.

She urged Nigerians and officers alike to embrace positive change, adding that sustainable reform depends on individual commitment and collective responsibility. “The change we want starts with each and every one of us,” she said.

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