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Nigeria’s inflation drops to 17.93 percent
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 ...
Nigerian government approves N9.2 billion premium for civil servants’ life insurance
The Federal Executive Council (FEC) has approved the sum of N9.2billion as premium to insurance companies that will manage the group life insurance for federal civil servants in the country. Minister of Information and Culture Lai Mohammed revealed this when he briefed State House correspondents on the outcome of the Council meeting which was presided over by President Muhammadu Buhari in Abuja on Wednesday. He said: “On behalf of the Head of Civil Service of the Federation, I will like to report that council today approved the award of contract for the appointment of insurance companies for group life assurance for federal government employees, public servants, para-military and the intelligence community for the year 2021-2022 in the sum of N9, 248. 995, 907. “This premium is for a perio...
NDLEA seizes 200kg of hard drugs at Lagos, Abuja, Kano airports
The National Drug Law Enforcement Agency (NDLEA) simultaneously seized 200 kilograms of illicit substances at the Lagos, Kano and Abuja airports last week. Its Director, Media and Advocacy, Mr Femi Babafemi, made this known in a statement issued on Sunday in Abuja. He stated that a 41-year-old Adewuyi Olayinka was arrested while trying to export 650 grams of cocaine to the United Kingdom. The drugs were wrapped in two parcels arranged to be taken through the Skyway Aviation Handling Company export shed at the Murtala Muhammed International Airport, Lagos. “The drugs were concealed in dry pepper and in herbal concoction. “In the same vein, 107kg of hard drug suspected to be Khat was seized at the cargo shed of the Aminu Kano International Airport, Kano, while being exported to Canada. “The ...
