Uncategorized
Inflation Drops To 11.31% In February As CBN Monetary Policy Takes Root
The rate at which prices of goods and services are rising generally in Nigeria dropped further to 11.37 per cent in February at the heat of the 2019 election. This is coming on the heels of Central Bank of Nigeria CBN’s effective monetary policy that has continuously mop up excess liquidity in the system.
The Godwin Emefiele led CBN had embarked on tight monetary policy and introduced measures to boost domestic production as well as ensure that goods that can be produced locally are encouraged to thrive by placing some products under restriction of access to official foreign exchange market.
National Bureau of Statistics in its inflation report for February said “February’s food inflation rose 13.47 per cent year-on-year, versus January’s growth of 13.51 per cent. The consumer price index, (CPI) which measures inflation increased by 11.31 per cent in February 2019. This is 0.06 percent points lower than the rate recorded in January 2019, 11.37 per cent. Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month basis, the Headline index increased by 0.73 percent in February 2019, this is 0.01 percent rate lower than the rate recorded in January 2019 (0.74) per cent. The percentage change in the average composite CPI for the twelve months period ending February 2019 over the average of the CPI for the previous twelve months period was 11.56 per cent, showing 0.24 per cent point from 11.80 per cent recorded in January 2019.
“The urban inflation rate increased by 11.59 per cent in February 2019 from 11.66 per cent recorded in January 2019, while the rural inflation rate increased by 11.05 per cent in February 2019 from 11.11 per cent in January 2019. The composite food index rose by 13.47 per cent in February 2019 compared to 13.51 percent in January 2019. This rise in the food index was caused by increases in prices of Fish, Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetables, Oil sand fat sand Fruits On month-on-month basis, the food sub-index increased by 0.82 percent in February 2019, down by 0.01 percent points from 0.83 percent recorded in January 2019. The average annual rate of change of the Food sub-index for the twelve-month period ending February 2019 over the previous twelve-month average was 13.62 percent, 0.31 per cent points from the average annual rate of change recorded in January 2019 (13.93) percent.
The ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.8 per cent in February 2019, down by 0.1 per cent when compared with 9.9 per cent recorded in January 2019. On month-on-month basis, the core sub-index increased by 0.65 per cent in February 2019. This was down by 0.16 percent when compared with 0.81 percent recorded in January 2019. The highest increases were recorded in prices of Tobacco, repair and hire of footwear, Major household appliances, Domestic services and household services, Dental services, Medical and hospital services, Cleaning, repair and hire of clothing. The average 12-month annual rate of change of the index was 10.19 percent for the twelve-month period ending February 2019; this is 0.15 percent points lower than 10.34 percent recorded in January 2019.
In February 2019, all items inflation on year on year basis was highest in Kebbi (13.78%),Taraba (13.57%) and Kaduna (13.54%), while Cross River (9.81%) Delta (9.60%) and Kwara(9.36%) recorded the slowest rise in headline Year on Year inflation.
“On month on month basis however, February 2019 all items inflation was highest in Taraba (1.87%),Ogun (1.83%), and Imo (1.62%), while Jigawa recorded the slowest rise (0.13%), with Delta and Kogi recording negative inflation or price deflation (general decrease in the general price level of goods and services or a negative inflation rate) in February 2019. In February 2019, food inflation on a year on year basis was highest in Nasarawa (16.78%), Taraba (16.76%) and Abuja (16.29%), while Kogi (11.68%), Delta (11.51%) and Abia (10.81%) recorded the slowest rise in food inflation. On month on month basis however, February 2019 food inflation was highest in Taraba (2.95%), Ogun (2.73%) and Nasarawa (2.42%), while Benue, Delta, Kogi and Ondo all recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in February 2019”.
Uncategorized
NDDC At 25: Cross River’s Cynthia Oloko, 19, Emerges Second Place Winner At Miss Niger Delta 2025
...Deputy Governor, APC Chairman, and Senators Celebrate Her with Generous Cash Gifts
Miss Cynthia Iyowogoga Oloko, a 19-year-old from Cross River State, has emerged as the first runner-up (second place) at the Miss Niger Delta 2025 beauty pageant. The event, held in Port Harcourt, Rivers State, was part of the 25th Anniversary celebrations of the Niger Delta Development Commission (NDDC).
Cynthia, a final-year student of Rivers State University of Science and Technology, where she studies Human Anatomy, competed alongside nine other contestants representing the nine states of the Niger Delta—Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers.
Crowned with the title “Pride of the Niger Delta”, Cynthia received a cash prize of ₦7.5 million for placing second in the pageant.
In recognition of her achievement and the pride she has brought to Cross River State, several political leaders and dignitaries extended their support. The Deputy Governor of Cross River State, Rt. Hon. Dr Peter Odey, gifted her ₦3 million, the APC State Chairman, Barr. Alphonsus Ogar Eba, Esq., JP, contributed ₦1 million, while the state’s two Senators jointly supported her with another ₦3 million—bringing her total cash reward to ₦14.5 million.
According to the organisers, all nine contestants underwent intensive training and were empowered with skills and starter kits to help them become self-reliant and impactful in their communities.
The Miss Niger Delta pageant is designed not just as a beauty contest, but as a platform to empower young women across the region. It aims to nurture leadership, entrepreneurship, and community development among participants. The initiative is rooted in the belief that empowering women is key to building stronger families, communities, and society at large.
Many past participants have gone on to become successful entrepreneurs and community leaders. The programme, sponsored by the NDDC, is part of its commitment to identifying and nurturing young talents in the region.
This year’s overall winner received a brand-new car and ₦10 million, while the second runner-up (third place) received ₦5 million. The remaining six contestants each received ₦1 million as a consolation prize.
Miss Cynthia Oloko was born in 2005 to Engr. and Mrs Cosmas Oloko Ekawu. She attended Trailblazers Academy in Gwarinpa, Abuja. Her hobbies include swimming, running, networking, and travelling. She aspires to build a career in entrepreneurship and politics, with a strong passion for leadership and community development.
Congratulations Miss Cynthia
The Chairman of Yala Local Government Area, Cross River State, Hon Dr Fred Okem has dissolved all revenue agencies operating in the Council with effect from 31st December 2024.
Hon Dr Fred Okem, Chairman Yala Local Government Area
This was contained in a release on Monday 6th January 2025 by the Chief Press Secretary, Emmanuel Unah.
The Chairman also cautioned that anyone who flouts the directive would be handed over to the security agencies for proper action in line with relevant laws.
The local government helmsman is expected to reposition the revenue agencies with the aim of boosting internally generated revenue in the council for adequate measures towards the development of Yala in line with the People First Agenda of the State government.
The Chairman of the Nigeria Union of Journalists (NUJ), Federal Capital Territory (FCT) Council, Ms. Grace Ike, has been named Nigeria’s Media Personality of the Year 2024. This prestigious recognition was conferred by the Editorial Board of Good Governance Today Nigeria at a grand ceremony held at the National Merit House, Abuja.
NUJ FCT Council Chairman, Comrade Grace Ike
In addition to the honour, Ms. Ike was inducted into the Good Governance Today Nigeria Hall of Fame—a testament to her exemplary contributions to leadership and professional journalism in Nigeria.
The award acknowledges Ms. Ike’s uncommon leadership qualities and her unwavering commitment to advancing journalism as a tool for national development. Her selfless service to humanity, her state and the nation has made her a beacon of hope and inspiration for many.
Speaking at the event, the organiser and the managing editor of Governance Today , mr Sylvester Abudu Omose commended Ms. Ike’s visionary leadership and her remarkable strides in reshaping the landscape of journalism in Nigeria. Her relentless dedication to using journalism to advocate for transparency, justice, and public enlightenment was described as both inspiring and transformative.
“Ms. Grace Ike’s achievements transcend the ordinary. She has redefined what it means to serve humanity through journalism. Her work exemplifies the power of the media in fostering societal progress and governance,” the board stated.
In her acceptance speech, Ms. Ike represented by one of her media aides, mr Ademola Adepoju expressed her gratitude for the recognition and attributed her success to the collective efforts of her team at NUJ FCT Council and the support of stakeholders in the journalism community. She reiterated her commitment to promoting ethical journalism and upholding the values of truth, accountability, and service to humanity.
“This award is not just a recognition of my efforts but a call to do even more. Journalism is the lifeline of democracy, and we must continue to use it to uphold justice and transparency for the betterment of our society,” Ms. Ike remarked.
The event was attended by dignitaries from the media, government and civil society, who lauded Ms. Ike’s achievements and pledged continued support for initiatives that promote good governance and ethical journalism in Nigeria.
As Ms. Grace Ike steps into the Good Governance Today Nigeria Hall of Fame, her legacy as a leader, journalist, and advocate for humanity continues to inspire a new generation of professionals committed to making a difference in their communities and the nation at large.
-
SPORTS20 hours agoBarcelona edge Newcastle 2-1 thanks to Rashford’s Second-Half magic
-
NEWS11 hours agoNigerian Born Int’l Journalist, Livinus Chibuike Victor, attempts to attain Interviewing Marathon of 72hours 30 Seconds
-
NEWS12 hours agoNSITF mourns Afriland Towers fire VICTIMS, calls for stronger workplace safety
-
NEWS12 hours agoSouth East NUJ hosts homecoming, awards Chris Isiguzo Lifetime Achievement Honour
-
NEWS7 hours agoJUST-IN: Gov Fubara returns to Port Harcourt as Tinubu ends Emergency Rule
-
NEWS2 hours agoForce PRO Benjamin Hundeyin visits NUJ FCT, calls for media collaboration
