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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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Nigerian Student Wins 2026 Spelling Bee World Championship

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It has been reported that a Nigerian won the 2026 Spelling Bee World Championship, which was held in Shanghai, China. The winner, Chinedu Great Okdediachi, has now returned home to Delta State after his victory.

It can be noted that the student had already emerged as one of the Gold Award winners in the Middle School Group category.

“Congratulations once again, Chinedu! Your success continues to inspire young Nigerians to pursue excellence through education. Welcome home, Champion!”

The young star has made Nigeria proud by winning the international competition.


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‘My Reforms Have Stabilised Nigeria’s Economy’ — President Tinubu

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President Bola Ahmed Tinubu has stated that his administration’s economic reforms have helped stabilise Nigeria’s economy and placed the country on a path toward steady growth.

He said “My reforms have stabilised Nigeria’s economy and put it on a path of steady growth.”

The President added that the reforms are creating more opportunities for development across the country.

However, many Nigerians reacted online, with some questioning the impact of the reforms and saying they have yet to experience the positive effects.


 

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Nyesom Wike Says He Knows Civil Servants Don’t Like Him

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Nigerian politician and FCT Minister, Nyesom Wike, has said that he is aware many civil servants do not like him.

He shared that he understands why he is unpopular among some civil servants, explaining that funds previously spent on unnecessary conferences are now being redirected to road construction projects.

He said “Some people say conferences for corruption and I say what is that? You are going for conferences to do what? These are ways government funds are being diverted. I say put this money in this road here and the people will get the impact.”


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