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Breaking:Inflation in Nigeria Hits 20-Year High at 28.2% in November.

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President Bola Ahmad Tinubu

 

Nigeria’s headline inflation has risen to a 20-year high of 28.2 percent in November, the National Bureau of Statistics NBS, has disclosed.

The NBS in a report released on Friday said the headline inflation rate increased to 28.20 percent relative to October 2023 headline inflation rate which was 27.33 percent.

Reports indicate that the figure is the highest record from data obtained on the website of the Central Bank of Nigeria, CBN.

The bank’s data started from 2023.

The NBS said Food inflation rate also increased to 32.84 percent on a year-on-year basis, which was 8.72 percent points higher compared to the rate recorded in November 2022 (24.13 percent).

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“The rise in food inflation on a year-on-year basis was caused by increases in prices of bread and cereals, oil and fat, potatoes, yam and other tubers, fish, fruit, meat, vegetables and coffee, tea and cocoa,” it said.

On a month-on-month basis, the food inflation rate in November 2023 was 2.42 percent, 0.51 percent higher compared to the rate recorded in October 2023 (1.91 percent).

said the rise was caused by the increase in the average prices of bread and cereals, oil and fat, meat, coffee, tea and cocoa, potatoes, yam & other tubers.

Also, the “all items less farm produces and energy” or core inflation, which excludes the prices of volatile agricultural produces and energy stood at 22.38 percent on a year-on year basis.

“This is up by 4.39 percent when compared to the 17.99 percent recorded in November 2022. The highest increases were recorded in prices of passenger transport by road, medical services, passenger transport by air, actual and imputed rentals for housing, pharmaceutical products, accommodation service etc,” the report added.

Daily Trust

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Ganduje Shelves Attempt To Establish Independent Hisbah – Dan Agundi

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The attempt for the establishment of an independent Hisbah group in Kano State has been withdrawn and suspended – Baffa Babba Dan Agundi.

This was contained in a statement issued and signed by Alhaji Baffa Babba Dan Agundi, who said the withdrawal of the attempt was followed by a meeting with all stakeholders across the 44 local governments held at the Tinubu campaign office on Tuesday, the 16th of December.

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The statement added that the decision was following widespread outcry that trailed the attempt to establish the independent Hisbah group and the intervention of stakeholders, especially the Kano State Government and Department of State Services, as well as the former Executive Governor of Kano State, Dr. Abdullahi Ganduje, to ensure peace and stability.

The statement revealed that the meeting resolved to suspend the establishment of an independent Hisbah Fisabilillah to allow the Kano State Government to look into the issues amicably.

The statement maintained that the meeting also reiterated respect for the constituted authority and resolved to cooperate with security agencies for the maintenance of law and order as well as safety in Kano State and the country at large.

 

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ICPC Confirms Receipt of Dangote Petition Against NMDPRA CEO, Vows to Launch Investigation on the Matter

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By Yusuf Danjuma Yunusa

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has acknowledged the receipt of a formal petition filed by billionaire industrialist Aliko Dangote against Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

In the petition, Dangote alleges that Ahmed engaged in economic sabotage and corrupt practices, including the purported use of $5 million in public funds to cover his children’s tuition at Swiss schools.

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The petition, submitted earlier this week, calls for an investigation into Ahmed’s conduct and alleged misuse of office. The ICPC has confirmed that the matter is under review in line with standard procedural protocols, and will investigate in due time.

“The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to confirm that it received a formal petition today Tuesday 16th December, 2025 from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed.

“The ICPC wishes to state that the petition will be duly investigated,” said a statement by ICPC spokesman, John Odey.

No further statements have been released by either the ICPC or NMDPRA regarding the allegations at this time.

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None of Nigeria’s Presidents have Brigadier Generals as ADC, as the promotion of Tinubu’s ADC was shelved.

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None of Nigeria’s Presidents have Brigadier Generals as ADC, as the promotion of Tinubu’s ADC was shelved.”

The controversial plan to decorate Nurudeen Yusuf, aide-de-camp (ADC) to President Bola Tinubu, as a one-star general on Monday evening was shelved at the last minute after an intervention by two former chiefs of army staff.

Yusuf, who was only decorated as a colonel last January, was to be promoted to the rank of brigadier-general through “special presidential promotion”.

Under normal process, an officer has to be a colonel for at least four years after which he or she will attend the National Defence College (NDC) before they are considered for promotion.

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The approval to bypass the process was conveyed in a letter from the office of the national security adviser (NSA) to the Chief of army staff.

No brigadier has ever been ADC to the president of Nigeria, leading to further disquiet within the military establishment.

Ahead of the planned decoration on Monday, the minister of defence, Chris Musa — who is a retired general — and the chief of army staff, Waidi Shaibu, a lieutenant general, had cut short their visit to Lagos state and returned to the federal capital.

However, two highly respected former army chiefs eventually succeeded in persuading Tinubu to shelve the plan because of the dangers to the military establishment, TheCable learnt.

A presidential source told that the promotion is not going to happen “anytime soon”.

 

 

The cable

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