Economy
NBS: Nigeria’s Inflation Rate Dropped To 22.97% As At May
NBS: Nigeria’s Inflation Rate Dropped To 22.97% As At May
NBS: Nigeria’s inflation rate dropped to 22.97% as at May. The report said in May, the rural inflation rate was 22.70 per cent on a year-on-year basis.
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate eased further to 22.97 per cent in May 2025.
The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for May 2025, which was released in Abuja on Monday.
According to the report, the headline inflation showed a decrease of 0.74 per cent compared to the 23.71 per cent recorded in April 2025.
Furthermore, the report said on a month-on-month basis, the headline inflation rate in May 2025 was 1.53 per cent, which was 0.33 per cent lower than the rate recorded in April 2025 at 1.86 per cent.
The report said the increase in the headline index for May 2025 was attributed to the increase in some items in the basket of goods and services at the divisional level.
It said the three major contributors to the headline inflation were food and non-alcoholic beverages at 9.20 per cent, restaurants and accommodation services at 2.97 per cent, and Transport at 2.45 per cent.
The report showed the least contributors were recreation, sports, and culture at 0.07 per cent, alcoholic beverages, tobacco, and narcotics at 0.09 per cent, and insurance and financial services at 0.11 per cent.
The report said the food inflation rate in May 2025 was 21.14 per cent on a year-on-year basis.
It said on a month-on-month basis, the food inflation rate in May was 2.19 per cent, which increased by 0.13 per cent compared to the 2.06 per cent recorded in April 2025.
The NBS said the increase in food inflation was attributed to the reduction in average prices of items such as yam, avenger (Ogbono/Apon), cassava tuber, maize flour, fresh pepper, sweet potatoes, etc.
The report said that “all items less farm produce and energy’’ or core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 22.28 per cent in May 2025 on a year-on-year basis.
“On a month-on-month basis, the core inflation rate was 1.10 per cent in May, which decreased by 0.24 percentage points compared to the 1.34 per cent recorded in April 2025 .”
The NBS said for the newly introduced sub-indices, on a month-on-month basis, farm produce and goods stood at 22.38 per cent and 9.39 per cent compared to April 2025, which were 0.95 per cent and 1.89 per cent, respectively.
“Conversely, Services and Energy stood at 1.79 per cent and -0.43 per cent compared to 2.20 per cent and 13.6 per cent recorded in April, respectively. The report said that on a year-on-year basis in May 2025, the urban inflation rate was 23.14 per cent.
“On a month-on-month basis, the urban inflation rate was 1.40 in May 2025, which increased by 0.22 per cent compared to April at 1.18 per cent.” The report said in May, the rural inflation rate was 22.70 per cent on a year-on-year basis.
“On a month-on-month basis, the rural inflation rate was 1.83 per cent in May, which decreased by 1.72 per cent compared to April at 3.56 per cent.”
On states’ profile analysis, the report showed that in May, all items index inflation rate on a year-on-year basis was highest in Borno at 38.93 per cent, followed by Niger at 34.97 per cent and Plateau at 32.35 per cent.
It said the slowest rise in headline inflation on a year-on-year basis was recorded in Katsina at 16.25 per cent, followed by Adamawa at 18.20 per cent, and Delta at 18.41 per cent.
The report, however, said in May 2025, inflation rate on a month-on-month basis was highest in Bayelsa 9.11 per cent, followed by Bauchi at 4.85 per cent, and Borno at 4.42 per cent.
“Kaduna at -6.75 per cent, followed by Jigawa at -4.40 per cent and Edo at -2.94 per cent recorded the slowest rise in month-on-month inflation.”
The report said on a year-on-year basis, food inflation was highest in Borno at 64.34 per cent, followed by Bayelsa at 39.85 per cent, and Taraba at 38.58 per cent.
“Katsina at 6.90 per cent, followed by Rivers at 9.18 per cent and Kwara at 11.31 per cent recorded the slowest rise in food inflation on a year-on-year basis.’’

Nigeria’s Inflation Rate Dropped
The report, however, said on a month-on-month basis, food inflation was highest in Bayelsa at 12.68 per cent, followed by Cross River at 11.15 per cent, and Anambra at 9.10 per cent.
“Katsina at -5.42 per cent, followed by Jigawa at -4.02 per cent and Kaduna -3.27per cent, recorded the slowest rise in inflation on a month-on-month basis.”
The NBS said based on the recent rebasing of the CPI, hence, the CPI rose to 121.35 in May 2025, which reflected a 1.83-point increase from April 2025.
NBS recently rebased the CPI, bringing the base year closer to the current period, from 2009 to 2024, with 2023 as the reference period for expenditure weights.
The statistician-general of the federation, Adeyemi Adeniran, said the rebasing was designed to ensure that Nigeria’s economic indicators accurately reflect the current structure of the economy.
According to him, this is done by incorporating new and emerging sectors, updating consumption baskets, and refining data collection methods.
Economy
Governor Uba Sani Presents N985.9bn ‘People-Centred’ 2026 Budget To Kaduna Assembly
Governor Uba Sani Presents N985.9bn ‘People-Centred’ 2026 Budget To Kaduna Assembly
Governor Uba Sani presents N985.9bn ‘people-centred’ 2026 budget to Kaduna assembly. Uba Sani, governor of Kaduna, has presented a N985.9 billion 2026 appropriation bill to the state house of assembly for consideration and passage.
Speaking at the Lugard Hall on Monday, the governor said the draft budget emerged from “one of the widest consultation processes” ever undertaken in the state, involving traditional rulers, civil society organisations (CSOs), women’s groups, youth associations, business leaders and vulnerable groups across all local governments.
Sani described the budget proposal as a people-centred financial plan designed to consolidate ongoing reforms in security, infrastructure, education and rural development.
He added that the contributions of farmers, traders, teachers, artisans, persons with disabilities and widows formed “the backbone” of the proposal, strengthening participatory governance and accountability.
According to the governor, the appropriation bill comprises N734.2 billion in recurrent revenue and N251.6 billion in capital receipts, with capital expenditure accounting for 71 percent of the total figure.
He said education and infrastructure each received 25 percent of the draft budget, while health was allocated 15 percent.
Agriculture received 11 percent, security six percent, social development five percent, governance five percent, and climate action four percent of the proposed budget.
The governor also announced that every one of the state’s 255 wards would receive N100 million for community-identified projects under the ward development committee, which he said is “Nigeria’s largest grassroots budget model”.
He urged lawmakers to give the budget expeditious consideration, describing it as a vision of “renewal, resilience and far-reaching vision” for every ward and local government.
Reviewing the outgoing 2025 fiscal year, Sani said the period would be remembered for “remarkable achievements and resilient advancement”, despite economic headwinds, fluctuating federal allocations and persistent security threats.
On security, he said Kaduna faced threats ranging from banditry to kidnappings and communal conflicts, adding that improved collaboration with federal security agencies has restored confidence in many troubled communities.
According to him, previously divided communities are reconciling, farmlands are reopening, and schools once shut due to insecurity have returned to full activity through the Kaduna peace model.
The governor said his administration is executing 140 road projects covering 1,335 kilometres, adding that 64 roads have been completed.
The roads, he said, have opened new economic corridors and linked long-neglected communities.
He also said the Kaduna bus rapid transit (KBRT) system would be the first in northern Nigeria, featuring CNG-powered buses, digital ticketing and a 24-kilometre dedicated corridor.
Sani noted that the interstate bus terminal in Kakuri is 75 percent completed, while the subsidised transport scheme has saved residents more than N500 million through free and discounted rides.
He added that work on the Kaduna light rail is progressing, with phase 1 targeting the Rigachikun–Sabon Tasha corridor and phase 2 planned to link Millennium City to Rigasa.
‘300,000 CHILDREN BACK IN SCHOOL’
The governor said education remains the “cornerstone” of his development agenda, noting that 535 schools were reopened and more than 300,000 out-of-school children returned to classrooms in 2025.
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He recalled slashing tuition fees in state-owned tertiary institutions by 40 percent and listed other interventions, including the construction of 736 classrooms, renovation of 1,220 schools, and provision of water and sanitation facilities, furniture, and training for over 33,000 teachers.
In the health sector, Sani said all 255 primary healthcare centres have been upgraded to Level 2 status.
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He also announced the renovation of 15 general hospitals, the completion of five, and the commissioning of the 300-bed Bola Ahmed Tinubu Specialist Hospital.
He added that the state has implemented CONMESS and CONHESS, strengthened emergency services, built an oxygen plant, improved the medical warehouse and set aside ₦1 billion to insure vulnerable households.

Uba Sani Says
The governor said agricultural investment rose from N1.4 billion (2023) to N74.2 billion (2025), enabling the distribution of more than 900 trucks of free fertiliser and expanded support for irrigation, mechanisation, vaccines and seed improvement.
He added that the African Development Bank-supported $510 million special agro-industrial processing zone project is transforming the state into an agro-industrial hub.
On skills development, he highlighted the establishment of the Institute of Vocational Training and Skills Development in Rigachikun, satellite campuses, partnerships with Microsoft and Google, and the ongoing remodelling of Panteka Market to support over 38,000 artisans.
ASSEMBLY PROMISES SPEEDY REVIEW
Yusuf Liman, speaker of the Kaduna state house of assembly, described the budget as “ambitious, comprehensive and aligned with the state’s development priorities”.
Liman said the proposal reflects a commitment to strengthening human capital, expanding rural infrastructure and ensuring balanced urban-rural development.
He commended the governor for granting lawmakers direct involvement in constituency projects and praised the executive-legislative synergy, which according to him, has accelerated development interventions.
The speaker promised a thorough review of the document and pledged that the assembly would work with the executive to ensure its speedy passage.
UBA SANI HAILS TAJUDEEN ABBAS
Meanwhile, Sani has hailed Tajudeen Abbas, speaker of the house of representatives, as one of the most accomplished presiding officers in the history of the national assembly.
Speaking on Sunday in Zaria at the renewed hope empowerment programme sponsored by Abbas, the governor said the speaker’s ability to manage the complexities of the 360-member lower chamber sets him apart.
Sani, who was special guest of honour at the event, added that his assessment is shared by President Bola Tinubu.
“As a former senator, I know how difficult it is to preside over the house of representatives,” the governor said.
“No matter your competence, patience and hard work, one day you will be pushed to the wall. But as of today, in the history of Nigeria, no speaker has brought about development like Tajudeen Abbas,” he said.
“I’m not the one praising him; it was President Bola Ahmed Tinubu who said it. I’m only repeating what he said.”
Sani said he is proud of Abbas for championing empowerment initiatives for youths and women, not only in his Zaria constituency but across Kaduna state and the country.
The governor also recalled that some political actors questioned his role in rallying support for Abbas during the contest for speaker.
“I told them my support was not based on politics. I will support anyone who will bring development to Kaduna state,” he said.
“Now, I have been vindicated by the projects he has executed and the empowerment programmes he is doing.
“I have told all legislators here that we can only be on good terms if they bring development to their people.
“Anyone who does not attract a school, hospital or any project to his constituency, we will part ways with him.”
Sani said the speaker has assisted all Kaduna federal lawmakers in securing projects for their constituencies, adding that Abbas is also personally executing projects across all 23 LGAs in the state.
He appealed for similar consideration for Sabon Gari LGA, saying residents want a stadium like the one being constructed in Zaria.
The event, held at Kofar Doka, featured the distribution of empowerment tools, including SUVs for traditional leaders; tractors, combine harvesters, fertiliser applicators and knapsack sprayers for farmers; as well as solar- and petrol-powered irrigation pumps.
Women beneficiaries also received deep freezers, grinding machines, industrial sewing machines and haulage tricycles.
Economy
APC Chieftain Asks Governor Otti To Review Levies Imposed On Aba Traders
APC Chieftain Asks Governor Otti To Review Levies Imposed On Aba Traders
APC chieftain asks governor Otti to review levies imposed on Aba traders. Paul Ikonne, a chieftain of the All Progressives Congress (APC) in Abia, has criticised Alex Otti, governor of Abia, over the “excessive” levies imposed on traders in Aba markets.
BACKGROUND
Some traders in Abia state recently appealed to Otti to intervene in what they described as the illegal demolition of their shops and the escalating cost of spaces in the market currently undergoing remodelling.

Alex Otti
They said the firm handling the project has not fulfilled its agreement to provide temporary accommodation and halt further demolition until existing work is completed.
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Economy
FULL LIST: Patience Jonathan, Ganduje Affected As FCTA Begins Enforcement On Revoked Property Titles
FULL LIST: Patience Jonathan, Ganduje Affected As FCTA Begins Enforcement On Revoked Property Titles
FULL LIST: Patience Jonathan, Ganduje affected as FCTA begins enforcement on revoked property titles. The Federal Capital Territory Administration (FCTA) has published the names of entities and individuals linked to 1,095 property titles recently revoked over the non-payment of statutory land charges.
The affected properties are located in high-brow districts including Asokoro, Maitama, Garki and Wuse.
In a public notice signed by the FCTA management, the agency said enforcement actions against the properties will commence following the expiration of the final grace period of 14 days on November 25, 2025.
The FCTA said 835 properties defaulted in payment of ground rents, while 260 properties defaulted in payment of violation fee and land use conversion fee.

Patience Jonathan
Among the individuals whose properties were listed in the notice are Abdullahi Ganduje, former governor of Kano; Donald Duke, former governor of Cross River; Patience Jonathan, wife of former President Goodluck Jonathan; David Mark, former senate president; and Iyiola Omisore, former deputy governor of Osun.
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