NIGERIA’S INFLATION DECREASES TO 11.31% IN FEBRUARY - NBS

The Consumer Price Index (CPI), which measures inflation, further decreased to 11.31 per cent (year-on-year) in February compared to 11.37 per cent in January, according to the National Bureau of Statistics (NBS). Increases were recorded in all COICOP divisions that yielded the Headline index.

On a 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) percent.

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 percent, showing 0.24 percent point from 11.80 percent recorded in January 2019.

The urban inflation rate increased by 11.59 percent (year-on-year) in February 2019 from 11.66 percent recorded in January 2019, while the rural inflation rate increased by 11.05 percent in February 2019 from 11.11 percent in January 2019.

On a month-on-month basis, the urban index rose by 0.76 percent in February 2019, down by 0.01 from 0.77 percent recorded in January 2019, while the rural index also rose by 0.71 percent in February 2019, same rate as was recorded in January 2019 (0.71) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.95 percent in February 2019. This is less than 12.20 percent reported in January 2019, while the corresponding rural inflation rate in February 2019 is 11.23 percent compared to 11.46 percent recorded in January 2019.

Food Index:

The composite food index rose by 13.47 percent 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, Oils and fats and Fruits

On a 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 percent points from the average annual rate of change recorded in January 2019 (13.93) percent.

All Items Less Farm Produce:

The ‘’All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.8 percent in February 2019, down by 0.1 percent when compared with 9.9 percent recorded in January 2019.

On a month-on-month basis, the core sub-index increased by 0.65 percent 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. 

State Profiles:

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation:

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.

Food Inflation:

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.

SHAME ON OHANAEZE NDIGBO FOR ENDORSING ATIKU - MOGHALU

Ohaneze National President, John Nwodo at Ukehe

Chief George Muoghalu, the National Auditor of the All Progressives Congress (APC) has berated the Ohanaeze Ndigbo for endorsing the candidature of Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP).

He stated this in an interview with This Day published on Thursday.

According to Muoghalu, the Igbo group should have worked towards not repeating the mistake of 2015.

His words: "The endorsement was unfortunate and has remained very unfortunate because the fear we expressed then has come to be. The shame is on Ohaneze now, but we warned against it based on the experience we had in 2015. What Ohaneze has succeeded in doing was to sadly repeat the mistake of 2015.

"It is most unfortunate but it has happened. Fortunately, the President did not relate to us in 2015 based on the endorsement of Ohaneze because he knew that some of us did not agree with them and the same thing is applying now.

"Some of us did not agree with them and will never agree with them. Today, we are exonerated. Our fears are confirmed because they would not have dragged us through the same path we followed in 2015 if they are reasonable."

He also stressed the need for the region to work hard to actualise its ambition of getting the presidency in 2023.

He continued: "It is not about rejecting Mr President, but a case of more people not believing in our party, the APC. However, I have always warned that power is not given but taken. You have to work for it. So, it is clear to us from the South-East that we need to work for power if we want to get it in 2023. It cannot be served on the table to us because it is our turn.

"We have to convince people to win a platform during the primaries and that was why we shouted on top of our voices that for things to be a little easier for the region, we need to demonstrate our commitment to the party to stand on a very high moral ground to make a demand.

"It is obvious that we have the challenge of convincing our compatriot and party leaders on why power should shift to the South-East. We are going to work towards it".

POSTERITY WILL JUDGE OSHIOMHOLE, UZODIMMA OVER FATE OF APC IN SOUTH EAST - GOV OKOROCHA

Gov. Rochas Okorocha of Imo says the National Chairman of All Progressives Congress (APC), Mr Adams Oshiomhole, and the party’s governorship candidate, Sen. Hope Uzodimma, are to blame for the inability of the party to win the governorship election.

He said posterity would judge the two for their alleged roles in the election.

In a release issued by his Chief Press Secretary, Mr Sam Onwuemeodo in Owerri on Thursday, the governor alleged that Uzodinma worked for Peoples Democratic Party in the just concluded elections.

He said Uzodimma was one of the first to celebrate with the PDP Candidate, Chief Emeka Ihedioha, after he was declared the winner of the election, citing a video of the two contestants as proof of his guilt.

“We had maintained that Chief Uzodinma was just a mole in the APC and today, the governorship election in the state and its outcome have obviously vindicated us, aside the fact that a video of Chief Uzodinma’s celebration with Ihedioha has gone viral on the social media.”

He also alleged that Uzodimma succeeded in the alleged plot by ensuring only his supporters were made agents of the party, adding that his target was to destroy APC in the South-East.

“Chief Uzodinma succeeded through Adams Oshiomhole to ensure that only his supporters were made agents of the party, from the list he sent from Abuja to the Independent National Electoral Commission.

“Unfortunately, none of Uzodinma’s and Oshiomhole’s approved agents were seen either at the ward, local government or at the state level ; they didn’t care about the election and its outcome.

“At the end of the day, the APC candidate came fourth. And he has been celebrating with the PDP candidate.”

“Their target as it has been shown now is to totally destroy APC in the South-East and in Imo in particular, thereby authenticating the claim in some quarters that it is all about 2023.

“We had equally maintained the contention that Imo people would not vote for Uzodinma because they know him very well, but Oshiomhole refused to listen.

“He came fourth and never showed that he took part in the election; Posterity and history will Judge Oshiomhole and Uzodinma over the fate of APC in the South-East, especially in Imo State,” Okorocha said (NAN)

I HAVE LOST FAITH IN NIGERIA'S DEMOCRACY - GOV OKOROCHA

Imo State Governor, Rochas Okorocha, has dismissed the governorship/state Assembly election in the state as a sham and a mockery of democracy, saying that he has lost confidence in the nation’s democracy.

Okorocha, while addressing a mammoth crowd of aggrieved youths from various parts of the state who paid him a solidarity visit at the Government House, Owerri, accused the Independent National Electoral Commission (INEC) of brazen complicity in the conduct of the exercise.

He warned that the sham, if allowed to prevail, would stultify the nation’s democratic system and promote injustice and iniquity to the highest crescendo.

“It is obvious that INEC in Imo is not guaranteeing us free, fair and credible election because Uche Nwosu, the governorship candidate of the Action Alliance (AA), actually won the election but INEC criminally disbanded electoral officers of the Commission and introduced people from Abia College of Agriculture who arrived in the state at midnight.

They brought people they had been training for weeks in Anambra before the election.”

ADAMAWA: COURT RESTRAINS INEC FROM CONDUCTING SUPPLEMENTARY GOVERNORSHIP ELECTION

A state high court in Yola has barred the Independent National Electoral Commission (INEC) from conducting the supplementary governorship election for which it scheduled March 23 in Adamawa State.

The Adamawa State High Court, presided by Justice Abdulaziz Waziri, granted an interim injunction barring INEC from conducting the supplementary polls in the 44 polling units where voting either did not hold during the March 9 governorship election or was cancelled.

The high court judgement was sequel to a suit filed by the governorship candidate of the Movement for the Restoration and Defence of Democracy (MRRD), Rev Eric Theman, who questioned non-inclusion of his party logo for the governorship election by INEC.

MINIMUM WAGE: SENATE COMMITTEE FINALLY CONCURS WITH REPS, APPROVES N30,000

THE Senate Adhoc Committee on a New National Minimum Wage Bill, 2019, has agreed with the House of Representatives, recommending N30,000 as the accepted minimum wage for the Nigerian workers as against N27,000 proposed by the Federal Government.

The Committee which is chaired by the Deputy Chief Whip of the Senate, Senator Francis Alimikhena, All Progressives Congress, APC, Edo North, met yesterday at Senate Room 431 New Building has concurred with the members of the House of Representatives that had earlier recommended a wage of N30,000 that was later adopted by the lower chamber.

A dependable source, yesterday, revealed that at the meeting of the Committee, the Chairman, Senator Alimikhena asked all the members to make contributions one after the other on the new minimum wage.

According to the source, all the Senators who spoke one after the other agreed, for a new minimum wage of N30,000, just as they were said to have taken the bill clause by clause whereby they also agreed with the issues raised in the bill.

It was also gathered that the Senators agreed on very stiff punishment for civil servants who do not go to work as a fine of N75,000 to be paid by any erring Civil servant has been settled for by the members, just as they were said to have complained bitterly about local government workers who abscond from their duty posts, only to wait and come to the secretariat whenever the salaries were ready.

The Committee, would present its report to the Senate at Plenary next week Tuesday as the report would be ready this week and passed by the Upper chamber next week Tuesday.

It would be recalled that the Senate President, Dr. Bukola Saraki on Monday this week, announced that following the absence of the Chairman, Senate Adhoc Committee on New National Minimum Wage Bill, Senator Olusola Adeyeye, APC, Osun Central, the Deputy Senate Majority Whip, Senator Francis Alimikhena, APC, Edo North to now head the panel in acting capacity.

It would be recalled that the Senate had on 24th January this year, set up an eight- member Adhoc Committee to look at the New Minimum Wage bill after scaling second reading, just as the Bill was referred to the constituted ad- hoc Committee.

The Ad- hoc Committee had the Senate Majority Whip, Senator Olusola Adeyeye, APC, Osun Central, with the Deputy Chief Whip, Senator Francis Alimikhena, APC, Edo North, representing the South South; Senator Abu Ibrahim, APC, Katsina South who is the Chairman of the Senate Committee on Labour; Senator Shehu Sani, PRP, Kaduna Central, representing the North West; Senator Sam Egwu, PDP, Ebonyi North, representing South East); Senator Suleiman Adokwe, PDP, Nasarawa South, North Central) ; Solomon Adeola, APC, Lagos West, representing South West and Senator Binta Masi Garba, APC, Adamawa North, representing North East.

The Committee was given two weeks to conclude its assignment and report back.

Meanwhile, the Chairman, Senate Committee on Local Content, Senator Solomon Adeola (APC, Lagos West), yesterday called for the review of Revenue Allocation Formula by the Revenue Mobilisation and Fiscal Commission as a way of effectively implementing the recommended N30,000 minimum way across all tiers of government.

Making his contribution during a meeting of the Senate Ad Hoc Committee on Minimum Wage chaired by Senator Francis AlimiKhena to consider the Minimum Wage Bill, Senator Adeola supported the recommended N30,000 contained in the National Minimum Wage Bill adding however that the law when passed must be implemented by all the three tiers of government.

In a statement signed by his Media Adviser, Kayode Odunaro, Senator Adeola said, ” I am in support of the recommended minimum wage as it will go a long way in cushioning the challenges faced by workers. However, there must be no excuse for non implementation by any tiers of government across the federation. It is in this wise that I call on the Revenue Mobilisation and Fiscal Commission to begin a process that will lead to the review of the Revenue Allocation Formula for all tiers of government to be able to pay the minimum wage when passed into law”.

The senator supported the sanctions contained in the bills for indolent workers stressing that while supporting the minimum wage for workers and improve welfare packages, the Civil Service at all levels must perform at its best as they are critical in the delivery of dividends of democracy to the people.

It would be recalled that the House of Representatives, had on 29th January, approved a national minimum wage of not less than N30,000 per month for Nigerian workers.

The passage followed the lawmakers’ unanimous adoption of a report of an ad hoc committee on National Minimum Wage Bill, 2019, which recommended N30,000 as against N27,000 proposed by the Federal Government.

According to the Chairman, ad hoc committee on National Minimum Wage Bill and Deputy Speaker of the House, Yusuf Lasun (APC, Osun), the bill aims to prescribe the national minimum wage and a legal framework for a seamless review.

Tagged “A Bill for an Act to repeal the National Minimum Wage Act 1981 and enact the National Minimum Wage Bill, 2019” the law makes it compulsory for employers in Nigeria to pay their workers no less than N30,000 per month.

The Lower Chamber approved the minimum wage bill following its adoption by the ad hoc committee on the report presented to the assembly by President Muhammadu Buhari.

NO BODIES RECOVERED FROM ETHIOPIA AIRLINES CRASH SITE

No bodies recovered from the wreckage of the ill-fated Ethiopian Airline's plane, the airline’s spokesman said on Wednesday.

According to the unnamed spokesman, who was questioned by Rueters, only fragmented remains survived the impact and no bodies were recovered at the crash site.

“There were no bodies,” he told Reuters.

The black boxes, which record data, were found at the crash site in Bishoftu, Ethiopia and will be analysed in Europe.

Germany's federal agency responsible for investigating air accidents will not analyse the black box, after a spokesman for the airline said the country would take care of that.

All 157 people on board the plane died in the disaster which has rocked the global aviation industry.