The Consumer Price Index (CPI) which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month, according to the National Bureau of Statistics (NBS). The 0.19 per cent decline in the headline index, makes it the second consecutive month that the rate had sustained its downward trajectory after 18 months of inflationary pressures on the economy. According to the CPI figures for May which was released by the statistical agency Tuesday, food inflation dropped to 22.28 per cent from 22.72 per cent in April. Price moderation was recorded in bread, cereals, milk, cheese, eggs, fish, soft drinks, coffee, tea and cocoa, fruits, meat, oils and fats and vegetables. On month-on-month basis, the food sub-index declined to 1.05 per cent in May ...
A late evening fire outbreak on Thursday gutted a three-storey building at No 74 Jubille Road, Aba, Abia, destroying goods worth more than N35 million. The fire also gutted a makeshift warehouse at the back of the three-storey building with Motorcycle spare parts and also burnt the contents of rooms on three floors at the back of the main building. Newsmen visited the scene of the incident and reports that the three-storey building, other adjoining blocks with their wares were not spared by the inferno. Mr Donatus Ezenwaka, a victim and Motorcycle Spare Parts dealer at the building told newsmen on Friday that he was called back at about 11 pm to his shop by a neighbour because the building was on fire. “I came and it was as told me and there was a crowd around here. “They said the fire beg...
A fully loaded lorry tanker with fuel, lost control in Gaika area of Jebba in Moro local government area of Kwara state, on Wednesday, killing about sixteen persons while no fewer than thirty buildings and properties worth millions of naira gutted fire. Newsmen gathered that the incident occurred at about 9 am when the tanker was driving along the popular Gaika road in Jebba and suddenly lost control . The tanker was said to have violently hit the car in its rear which instantly caught fire, before it ran into the nearby buildings, not less than thirty, and burnt them all. The petrol substance which reportedly spilled on the floor after the crash, inflamed the fire inferno. “The entire Jebba is in deep mourning, we have never seen this kind of thing before, so tragic.”said a source. Kwara ...
Bayelsa State Governor, Douye Diri, on Saturday, says he is confident that his party’s candidates in the state’s senatorial bye-elections will win the two seats. He also said the Senate is not a place for jokers but qualified individuals. Speaking to newsmen after casting his vote at Sampou, his country home, the governor expressed confidence that the candidates of the Peoples Democratic Party were going to win the elections. Newsmen report that the Bayelsa bye-elections took place in the Bayelsa Central and West Senatorial Districts, vacated by him and the deputy, Lawrence Ewhrudjakpo. Diri said, “The candidates of PDP are incomparable. We fielded quality candidates and you can see the difference between the PDP candidates and particularly the other candidates. I don’t want to mention the...