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Nigeria: Inflation rate drops to 11.22 percent in June
Nigeria’s inflation eased sharply lower in June to 11.22 percent year on year, a 0.18 percent points decrease than 11.40 percent posted in May.
According to the latest data released by the National Bureau of Statistics (NBS) on Tuesday revealed that the headline index fell to 1.07 percent on a month-on-month basis, indicating a decline of 0.04 percent points from the rate recorded in May.
“The consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019. This is 0.18 percent points lower than the rate recorded in May 2019 (11.40) percent.
“On a month-on-month basis, the Headline index increased by 1.07 percent in June 2019, this is 0.04 percent rate lower than the rate recorded in May 2019 (1.11) percent.”
Also, the urban inflation rate fell to 11.61 percent year-on-year in the month under review, while the rural inflation rate eased to 10.87 percent from 11.08 percent.
“The urban inflation rate increased by 11.61percent (year-on-year) in June 2019 from 11.76 percent recorded in May 2019, while the rural inflation rate increased by 10.87 percent in June 2019 from 11.08 percent in May 2019.
“On a month-on-month basis, the urban index rose by 1.10 percent in June 2019, up by 0.05 from 1.15 percent recorded in May 2019, while the rural index also rose by 1.05 percent in June 2019, up by 0.02 from the rate recorded in May 2019 (1.07) percent.”
The composite food index stood at 13.56 percent in June, compared to the previous months 13.79 percent as increases were recorded in prices of bread and cereals, meat, fish, vegetables and fruits among others.
“The composite food index stood at 13.56 percent in June 2019 compared to 13.79 percent in May 2019.”
This rise, according to the report, was caused by increases in prices of Bread and cereals, Meat, Oils and fats, Potatoes, yam and other tubers, Fish, Vegetables and fruits.
“On a month-on-month basis, the food sub-index increased by 1.36 percent in June 2019, down by 0.05 percent points from 1.41 percent recorded in May 2019.
“The average annual rate of change of the Food sub-index for the twelve-month period ending June 2019 over the previous twelve-month average was 13.42 percent, 0.05 percent points higher from the average annual rate of change recorded in May 2019 (13.37) percent.”
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Rep Oseni Rallies Support for Ikogosi Development Projects, Calls for Resilience, Unity
The Chairman of the House Committee on the Federal Road Maintenance Agency (FERMA) and representative of Ibarapa East/Ido Federal Constituency in Oyo State, Engr. Aderemi Oseni, on Saturday urged the community to unite in advancing key development projects aimed at transforming Ikogosi.
Speaking at this year’s Ikogosi Day celebration and the launch of a N1 billion development project in Ekiti, the lawmaker, who served as the Chairman of the occasion, emphasised the importance of unity and collective action.
He encouraged attendees to approach the celebration as a call to action for the betterment of their community.
“As we all know, Ikogosi is not merely a town; it is a treasured gem in the heart of Ekiti State and Nigeria as a whole,” he said. “Ikogosi, a historic and vibrant town, plays a vital role in the tourism and economic landscape of Ekiti State. Its rich cultural heritage and unique resources draw visitors and stimulate economic activities that benefit us all.”
“Today is not just a celebration; it is a call to action,” he continued. “Let us come together, united in purpose, to support these transformative projects that promise to uplift the Ikogosi community. I urge everyone here to invest their time, resources, and energy in this endeavor. Together, we can build a legacy of self-help and development that future generations will cherish.”
Reflecting on the broader challenges facing the country, Oseni encouraged the people of Ikogosi and all Nigerians to remain hopeful and resilient, assuring them of President Bola Ahmed Tinubu’s commitment to a brighter future for the nation.
“To the good people of Ikogosi and all citizens of Nigeria, I urge you to remain steadfast and hopeful. President Bola Ahmed Tinubu means well for all Nigerians. The APC-led administration’s Renewed Hope agenda holds the promise of a brighter future. Though the beginnings may be challenging, perseverance will guide us toward a prosperous new Nigeria,” he stated.
In a statement released by his media aide, Idowu Ayodele, the lawmaker lauded the Ekiti State government under Governor Biodun Oyebanji’s leadership for its transformative efforts in governance and development.
He acknowledged the strides made by the governor and praised his impactful initiatives, which have set Ekiti on a progressive path.
“First and foremost, let me commend the Ekiti State government under the leadership of His Excellency, Mr. Biodun Abayomi Oyebanji. The trailblazing development initiatives and effective governance during your tenure have not gone unnoticed,” Oseni remarked.
“Under your stewardship, we have witnessed remarkable progress and commendable governance that have undoubtedly made Ekiti State a shining example of peace and development,” he added.
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Bad Roads: ‘Focus on Message, Not Messenger’ – Nigerians Tell Works Minister, Umahi
The Nigerian Minister of Works, David Umahi, has ignited widespread public reaction following his response to recent criticisms by Engr. Aderemi Oseni, Chairman of the House of Representatives Committee on Federal Roads Maintenance Agency (FERMA).
Oseni, who represents Ibarapa East/Ido Federal Constituency in Oyo State, had accused Umahi of neglecting essential infrastructure needs, alleging that the minister has “no plan for the nation.”
At a committee oversight meeting last Thursday, the lawmaker expressed his frustration over the worsening state of roads across the country.
“You are not here to tell us what we already know in the area of resources,” Oseni stated. “If you are telling us the reason you have failed in fixing our road infrastructure is because of resources, don’t let me take you up on that, because you concentrated your energy as a minister on less priority issues.”
In response, Umahi addressed a press briefing at the ministry’s headquarters in Abuja on Monday, dismissing Oseni’s comments.
He remarked that Oseni “had not attained half of what I have achieved in life” and added that he would “not join issues with the lawmaker” out of respect for the Speaker of the House of Representatives and the National Assembly.
Speaking further, the minister suggested that Oseni was representing contractors affected by recent reforms in the Ministry of Works.
“Let me say that I was not physically present at the meeting, nor was my permanent secretary,” Umahi said. “Nobody can talk to me like that in my presence. It’s not possible.”
Public Outcry: Nigerians Demand Accountability
Umahi’s remarks have drawn backlash on social media, where Nigerians urged him to focus on addressing their concerns about deplorable road conditions rather than deflecting criticisms.
Many expressed frustration with the state of federal roads, calling on the minister to prioritize solutions over defensiveness.
“Mr umahi, ur have actually abandoned our existing roads all over Nigeria and focusing on elephants projects”, commented Daniel Morgan. “Travelling from Southwest to Southeast is now by the special grace of God. Please do something and stop criticizing the messenger and look into the massage.”
Charles Anarado added, “No matter how one may look at this matter, Oseni stands on a sound good point that building a new stretch of road for N15trillion that is more than enough to fix all the bad major roads around the country seems indeed to be a misplaced priority. It’s just like parent using the funds meant for paying his children to school to buy a car to take them to school. His decision may seem good but paying school fees should certainly be his priority”.
Calls for Transparency and Priority on Repairs
Other Nigerians joined the conversation, with some social media users demanding more accountability from the minister.
Nnaemeka Mekah voiced frustration over Umahi’s response to criticism, stating, “This short man takes every criticism as a personal attack. Oga minister, MOST NIGERIAN ROADS ARE IMPASSABLE NOW, and you’re doing absolutely nothing about it. Dunno what else you claim to have achieved in life, but as far as Nigerian toads are concerned, you’re a monumental failure”.
Another user, Nanmah Fanto, supported Oseni’s criticisms, commenting, , “The Reps Committee Chairman, was absolutely correct 2 tell Umahi d truth about accountability n Umahi’s lack of given priority 2 existing bad roads, n concentrating on unimportant road construction. I used 2 think Umahi was wise, until that incident I realized that he wasn’t better at all, he’s also thinking of enriching himself at d detriment of fixing our bad roads. Now, I know better, he shouldn’t be given any more funds until he explains how judiciously he spent d #300 billion given to him”.
Meanwhile, Facebook user, Dapo Oyedele suggested a constructive approach, urging Umahi to respond with facts.
“It’s not about joining issues, it’s accountability. The truth is that federal roads are very bad. But your ministry is doing it’s best. The roads are many… Reply the honourable with facts and figures of what has been done in about one and half years and what’s are your plans to improve the situation of the roads as d minister”.
Nationwide Demand for Effective Solutions
Frustration over Nigeria’s roads continued to echo online, with many demanding that Umahi focus on repairing existing infrastructure.
Ogheneovo Peter William, another Facebook user remarked, “I will join issue Because na bitter the lawmaker tell you, Bad roads every, People are suffering from una bad policies, Them people go still suffer bad road”? he questioned.
“It is not about joining the issue with anyone. It is about fixing the existing roads that we have and stop this white elephant project of Lagos calabar costar road”, a user on Facebook, Sunday Adewuyi Adedokun said.
Continuing, Francis Azuka Obukwelu opined on the ‘blue App’, “He should say something about the bad roads in Nigeria”.
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Oseni Donates N10m to Support Ibadan’s Mogaji Ile Eke Project
The Chairman, House Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi Oseni has made a donation of ten million naira (N10m) towards the Mogajis’ Ile Eke project in Ibadan.
Oseni, who also represents Ibarapa East/Ido Federal Constituency of Oyo State, said the donation is aimed at supporting the Mogajis assembly’s project that holds immense cultural significance for the wider Ibadan community.
According to him, the project will remain a testament to the cultural and historical legacy of Ibadanland as it is expected to preserve the historic relevance of the palace while enhancing its role as a cultural landmark.
In a statement released on Saturday by his media aide, Idowu Ayodele, and made available to newsmen in Ibadan, the lawmaker emphasised the importance of preserving cultural heritage and fostering unity within traditional institutions.
He highlighted that the project would not only elevate the status of the Mogajis’ assembly but also serve as a central hub for promoting Ibadan’s rich cultural history.
“It is a privilege that I was called to be part of the project. If I fail to support it, the project will still be successful, but I believe I have to contribute. My life is dedicated to serving God Almighty, the people, and humanity,” Oseni said.
He further stated, “As a son of the soil, it is my responsibility to contribute to the growth of our shared heritage – Ibadan and by extension, Oyo state as a whole. The Mogajis’ Ile Eke project symbolises our collective identity and unity as a people. This donation is my modest contribution towards ensuring that future generations can connect with their roots.”
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