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Nigeria’s Inflation Surges to 34.60% in November, Food Prices Worsen Hardship

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Nigeria’s inflation rate climbed to 34.60% in November 2024, up from 33.88% recorded in October, signaling deepening economic challenges for citizens.

According to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS), inflation increased by 0.72% month-on-month and surged by 6.40% year-on-year when compared to the 28.20% recorded between November 2022 and November 2023.

The report highlights a significant rise in food prices, pushing food inflation to 39.93% in November, up from 39.19% in October. Urban inflation stood at 37.10%, while rural inflation was recorded at 32.27%, further underscoring widespread economic strain.

The persistent inflation spike comes amidst the Central Bank of Nigeria’s (CBN) tightening monetary policies. In its 297th Monetary Policy Committee meeting held in November, the CBN raised the interest rate to 27.50% from 27.25%, citing rising inflation as a key justification for the hike.

The increasing cost of food and other essential goods continues to worsen living conditions, placing a heavier financial burden on households across the country.

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Gospel Singer New Jerusalem Dies at 53, Leaves Family and Fans in Mourning

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Nigerian Gospel Artist Israel Terhemba Ikyereve, popularly known by his stage name New Jerusalem, has reportedly passed away.

The late gospel singer passed away at the age of 53, friends and family as well as the government in Benue state mourns the loss of the singer.

The date of burial was also announced by his family, on Saturday, July 5, 2025, in Sati Agirigi, Mbamo, Shitile, Katsina-Ala LGA of Benue State.


 

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Fubara Disowns 2027 Campaign Materials, Says He Only Wants Peace for the State

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Suspended Rivers State Governor, Sim Fubara, has distanced himself from campaign materials being circulated ahead of the 2027 elections. Fubara made it clear that he never approved the production of caps, shirts, or any other campaign items for the next general election.

Speaking to his supporters in Port Harcourt on Saturday, Fubara stressed that his focus is on restoring peace and stability in the state, not on political campaigns. His reaction follows the recent resolution of the political crisis in Rivers State by President Bola Tinubu.

The clash between Fubara and the Minister of the Federal Capital Territory had sparked months of tension, which eventually led to Fubara’s six-month suspension from office. Tinubu even declared a state of emergency in Rivers State during the height of the crisis.

However, the president stepped in last week, holding talks with all parties at the Presidential Villa in Abuja, leading to a temporary truce. Fubara expressed his frustration over the campaign materials, saying, “I was really upset when someone sent me a video of people producing caps and shirts for the 2027 elections.

“I didn’t approve that, I didn’t send anyone to do that. For now, what Rivers State needs is peace so that we can focus on progress and development.”

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Pastor Adeboye to Lead National Prayers for Nigeria’s Failing Economy

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The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, will be leading a national prayer session focused on reviving Nigeria’s struggling economy. The prayer is scheduled to take place during the church’s July 2025 Thanksgiving Service, themed “Divine Intervention”, at the RCCG national headquarters in Oyingbo, Lagos.

Speaking ahead of the event through his Special Assistant on Administration, Pastor Dele Balogun, Pastor Adeboye acknowledged that both Nigeria and other countries are facing tough times. But he believes the current hardship is not beyond repair if people embrace faith and take positive action.

“Our nation is going through serious challenges, just like other parts of the world. But the truth is, we can overcome them with faith, as long as we don’t give room to fear or doubt,” Adeboye said. He encouraged Nigerians to reject negative confessions and instead focus on faith-driven solutions, adding that with God’s intervention, the country’s economic situation can still turn around.

The upcoming prayer session, according to him, is not just about asking for change but about opening doors to new opportunities and paving the way for national transformation.


 

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