Nigeria’s inflation rate has surged further to 20.52% in the month of August 2022, from 19.64% recorded in the previous month. This represents the highest rate since September 2005. The recently released Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS) showed that Nigeria’s CPI rose by 20.52% year-on-year in August 2022. On a month-on-month basis, the index rose by 1.77% compared to the 1.82% increase recorded in the previous month. Food inflation rose to 23.12% in August 2022, representing a 1.1%-point increase compared to 22.02% recorded during the last month. According to the NBS, the rise in food inflation was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, fish, meat, oil, and fat. For the month, inflation was highest in Ebonyi (25.33%), Rivers (23.70%), Bayelsa (23.01%), while Jigawa (17.30%), Borno (17.56%) and Zamfara (18.04%) recorded the slowest rise in headline year-on-year inflation.
Justice Emeka Nwite of the Federal High Court Abuja has ordered the Independent National Electoral Commission (INEC) to accept and publish the name of Godswill Akpabio as the candidate of the All Progressives Congress (APC) for Akwa Ibom North/West Senatorial District election. Justice Nwite gave the order on Thursday while delivering judgement on a suit filed by Akpabio seeking an order for him to be accepted as the authentic candidate. The judgement was on the suit marked: FHC/ABJ/CS/1011/2022 filed by the APC and Akpabio (first and second plaintiffs), while INEC, was the sole defendant. The court held that INEC acted illegally by refusing to accept and publish Akpabio’s name when it was submitted to it by the APC as its candidate. The court, from its finding, noted that Akpabio was validly nominated as the Akwa Ibom North/West Senatorial District candidate of the APC from the primary conducted by the party’s National Working Committee (NWC) on 9 June 2022. The judge faulted INEC for opting to monitor the 27 May primary, conducted by an illegal faction of the party led by Augustine Ekanem as against the 9 June primary authorised and conducted by the APC NWC, an organ of the party authorised by law to conduct such primaries. The court maintained there is no law empowering INEC to refuse to accept and publish the name of a candidate sent to it by a political party without an order of the court.
An international civil society organisation, Save the Children International (SCI) on Thursday said over 75,000 children were killed by floods in Nigeria and the Niger Republic. The SCI pointed out that torrential rain is expected to continue in southern Niger and northern Nigeria until the end of September. According to the group, “More than 150,000 people, of which about half are children, have been severely affected by floods in Niger and Nigeria in recent weeks. SCI recalled, “since early July, intense rainfall has affected communities along the Niger-Nigeria border, triggering flooding which has washed away or damaged at least 14,900 homes. “Most of the displaced families have been forced to shelter in schools, abandoned buildings, makeshift tents, or with distant family members, some leaving all of their belongings behind. “The flooding has wreaked havoc in Niger’s Maradi, Zinder, Tillaberi and Tahoua regions, and in Borno, Yobe, and Adamawa states in Nigeria. More than 100,000 people have been affected in Niger alone. “Floods in the Sahel region are becoming more frequent and widespread. More than 300 people have died from flooding in Nigeria this year, and at least 75 people died in Niger this summer.” SCI also lamented that decades of conflict and insecurity, along with drought and poor rainfall, have already damaged food sources and livelihoods across Niger and Nigeria, leading to soaring levels of hunger.
Kenya scrapped subsidy on petrol, a day after new President William Ruto said subsidies were unsustainable, in a move that could add to upward pressure on inflation. Some of the key challenges the new president faces include bringing down the high cost of fuel and food in East Africa’s biggest economy while grappling with subsidy measures that policymakers warn could empty the country’s coffers. Ruto said in a speech after being sworn in that subsidies had been costly and prone to abuse, including causing artificial shortages of the very products being subsidised. The Energy and Petroleum Regulatory Authority removed the subsidy on petrol, but retained it on diesel and kerosene, saying those prices could have shot up even further. Analysts said it was likely the new hikes would push inflation even higher, from a five-year high of 8.5% in August.