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Food Prices Surge, Pushing Nigeria’s Inflation to 26.72% in September

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Nigeria’s inflation rate rose to 26.72% in September 2023 amid soaring food prices and harsh economic realities occasioned by the removal of fuel subsidy in May.

This was according to the September 2023 Consumer Price Index (CPI) and Inflation Report released by the National Bureau of Statistics (NBS) on Monday.

The CPI, which measures the changes in the prices of goods and services, rose from 25.80% in August 2023 with an increase of 0.92% points.

“In September 2023, the headline inflation rate increased to 26.72% relative to the August 2023 headline inflation rate, which was 25.80%,” the report partly read.

“Looking at the movement, the September 2023 headline inflation rate showed an increase of 0.92% points when compared to the August 2023 headline inflation rate.

“On a year-on-year basis, the headline inflation rate was 5.94% points higher compared to the rate recorded in September 2022, which was 20.77%.”

Also, the report said the food inflation rate in September 2023 was 30.64% on a year-on-year basis, which was 7.30% points higher compared to the rate recorded in September 2022 (23.34%).

“The rise in food inflation on a year-on-year basis was caused by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruit, meat, vegetables and milk, cheese, and eggs.

On a month-on-month basis, the Food inflation rate in September 2023 was 2.45%, this was 1.41% lower compared to the rate recorded in August 2023 (3.87%).

The decline in food inflation on a month-on-month basis was caused by a fall in the rate of increase in the average prices of potatoes, yam and other tubers, bread and cereals, fruits, and fish,” the report added.

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Oriire Rescue: SWEGOP Seeks Stronger Security in Border Communities

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The South West Guild of Online Publishers has urged the Federal and Oyo State governments to strengthen security in border communities following the rescue of pupils and teachers abducted from Oriire Local Government Area of Oyo State.

The guild said the successful rescue of the victims, who regained their freedom on Friday after spending months in captivity, should mark a turning point in efforts to secure vulnerable communities and prevent similar attacks.

In a statement issued on Sunday and jointly signed by its Chairman, Bisi Oladele, and Public Relations Officer, Remi Oladoye, SWEGOP commended President Bola Tinubu, Oyo State Governor Seyi Makinde and the security agencies for what it described as their commitment and coordinated efforts that led to the victims’ rescue.

The guild described the operation as proof that strong political will, intelligence-driven operations and effective collaboration among security agencies can deliver positive results in the fight against insecurity.

It also praised the gallantry, resilience and professionalism of the military and other security personnel involved in the operation, noting that their sacrifices had restored hope to the rescued victims, their families and residents of Oyo State.

While celebrating the successful rescue, SWEGOP sympathised with the families of security personnel and civilians who lost their lives during the ordeal, praying for the peaceful repose of the deceased.

The publishers observed that recent abductions across parts of the country revealed a disturbing pattern of attacks on border communities, where inadequate security presence, poor road networks, weak telecommunications infrastructure and easy escape routes into neighbouring countries have continued to expose residents to criminal activities.

It, therefore, called on governments at all levels to sustain the level of cooperation demonstrated during the rescue operation by strengthening collaboration among security agencies, traditional rulers, community leaders and other critical stakeholders to improve the safety of residents.

The guild further urged both the Federal Government and the Oyo State Government to deepen investments in intelligence gathering, surveillance technology, rapid response mechanisms and community policing to guarantee the safety of schools and ensure that children can learn without fear.

SWEGOP reaffirmed its commitment to responsible journalism and pledged continued support for initiatives aimed at promoting peace, public safety and the protection of lives and property across the South-West and the country.

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Army reveals how month-long operation freed 44 abducted Oyo pupils, teachers

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The Nigerian Army on Friday revealed how a month-long intelligence-driven joint security operation led to the rescue of 44 pupils and teachers abducted by terrorists in Oriire Local Government Area of Oyo State.

The victims, who were kidnapped on May 15, 2026, regained their freedom on July 10 after spending 56 days in captivity.

The Acting Deputy Director, 2 Division Army Public Relations, Lt. Col. Danjuma Jonah, disclosed this in a statement, saying the operation was carefully planned and executed to ensure the victims were rescued unharmed without collateral damage.

According to him, the operation was coordinated by the General Officer Commanding, 2 Division, Maj. Gen. C.R. Nnebeife, in collaboration with the Office of the National Security Adviser through the National Counter Terrorism Centre, Defence Headquarters, the Nigerian Army Special Forces, the Nigerian Navy, the Nigerian Air Force, the Nigeria Police Force, the Department of State Services, the National Intelligence Agency, the Nigeria Security and Civil Defence Corps, the Amotekun Corps, as well as local vigilantes and hunters.

Jonah said intelligence gathered during the operation enabled security operatives to identify the terrorist kingpins responsible for the abduction, dismantle their criminal network, disrupt their logistics chain, expose informants and locate their hideouts in the Old Oyo National Park and adjoining forests.

He added that several suspects were arrested in Oyo State and other parts of the country, a development that significantly weakened the criminal syndicate and intensified pressure on the kidnappers.

According to the army spokesman, the sustained pressure eventually forced the terrorists to release the abducted pupils and teachers unconditionally.

“The arrests completely disorganised the group, exerted overwhelming pressure on them and ultimately led the terrorist group to unconditionally release the pupils and teachers,” the statement read.

The Army, however, disclosed that some security personnel lost their lives during the operation.

It added that the rescued pupils and teachers were receiving medical attention at an undisclosed hospital before being handed over to the Oyo State Government for reunification with their families.

Nnebeife, on behalf of the participating security agencies, commended President Bola Tinubu for providing strategic direction, resources and support that contributed to the successful operation.

He also appreciated Oyo State Governor, Seyi Makinde, and residents of the state for their cooperation throughout the rescue mission.

The GOC further acknowledged the support of the National Security Adviser, Mallam Nuhu Ribadu, the Minister of Defence, the Chief of Defence Staff, the Chief of Army Staff, other Service Chiefs, the Inspector-General of Police, the Directors-General of the DSS and the NIA, as well as heads of other security agencies for ensuring seamless coordination.

He equally thanked media organisations and Nigerians for their patience, understanding and confidence in the country’s security architecture.

Nnebeife urged members of the public to remain vigilant and continue providing credible and timely intelligence to security agencies to strengthen efforts at tackling kidnapping, terrorism and other violent crimes.

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Tinubu hails rescue of Oyo pupils, teachers after 56-day ordeal, eight kidnappers held

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President Bola Tinubu on Friday hailed the successful rescue of abducted pupils and teachers from Oriire community in Ogbomoso, Oyo State, after 56 days in captivity, commending the military, the Department of State Services and the Nigeria Police Force for the operation.

The President said eight suspected kidnappers were arrested during the rescue mission, while several others were neutralised, describing the operation as a major breakthrough in the fight against insecurity and a source of relief to the victims, their families and the country.

Tinubu’s commendation was contained in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga.

He expressed sympathy for the pupils, teachers and their families over the trauma they endured during the nearly two-month ordeal, assuring them that his administration would ensure those responsible for the crime faced justice.

“I am profoundly happy that our security forces successfully rescued the abducted pupils and teachers from Oriire, Ogbomoso in Oyo State today after a military, police and intelligence-driven operation that neutralised some of the terrorists that perpetrated the evil act and the arrest of eight of them,” the President said.

He added, “This successful military operation has ended the siege and standoff of over 50 days and has brought relief to the entire nation and the affected families in particular. On behalf of the country, I express my gratitude to the officers and men of our armed forces, the intelligence agencies and the police for the safe rescue of the children and their teachers.”

Tinubu vowed that his administration would prosecute those behind the abduction, including those responsible for the killing of one of the teachers, Mr Oyedokun.

“My government will get justice for these children and their teachers and for the family of Mr Oyedokun, who the terrorists gruesomely murdered,” he said.

The President also commended the Oyo State Government for working closely with the Federal Government throughout the rescue operation.

“I must commend the Government of Oyo State for working cooperatively with us in bringing this unfortunate incident to a successful end,” he added.

Tinubu further directed relevant emergency response agencies to work with the Oyo State Government to provide the rescued pupils and teachers with immediate medical attention, psychosocial support and other relief assistance to aid their recovery.

He also urged the Oyo State Government to strengthen security around schools to forestall similar incidents in the future.

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