Connect with us

Breaking News

Nigeria’s Inflation Rate Rises For The Third Consecutive Month

Published

on

Nigeria’s inflation rose for the third consecutive month to 15.93 percent in May 2026 from 15.69 percent recorded in April.
The National Bureau of Statistics disclosed this in its Consumer Price Index and inflation data released on Monday.

This means that in May, the country’s inflation rose on a month-on-month basis by 1.75 percent.

Also, the report showed that food inflation also skyrocketed to 16.96 percent in May, up from 16.06 percent recorded the previous month.

“In May 2026, the headline inflation rate on a month-on-month basis was 1.75 percent, which was 0.39 percent lower than the rate recorded in April 2026 (2.13 percent).

On a year-on-year basis, the headline inflation rate rose to 15.93 percent, up from 15.69 percent in April 2026 and down from 26.06 percent in the same month of the preceding year (May 2025).

“The Food inflation rate in May 2026 on a month-on-month basis was 2.98 percent, down by 0.65 percentage points from April 2026 (3.63 percent). On a year-on-year basis, it was 16.96 percent and stood at 24.55 percent in the same month of the preceding year, May 2025”.

DAILY POST reports that the headline inflation rate dropped in March and April, respectively.

Recall the Central Bank of Nigeria retained the country’s interest rate 26.50 percent in its 305th Monetary Policy meeting.

Read The Full Story / Watch The Full Video

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking News

IPOB Criticises Soludo Over Position on Nnamdi Kanu’s Release

Published

on

The Indigenous People of Biafra, IPOB, has criticised the Anambra State Governor, Prof. Chukwuma Charles Soludo, over what it described as a contradictory position on calls for the release of its detained leader, Nnamdi Kanu.

In a statement issued on Monday, IPOB spokesperson, Emma Powerful, accused the governor of inconsistency in his comments and actions regarding Kanu’s continued detention.

The group recalled that Soludo had earlier supported Kanu’s release, pointing to his reported visit to the IPOB leader at the Department of State Services, DSS, facility in Abuja in January 2023, where he allegedly offered to stand as surety for him.

IPOB also referenced remarks attributed to Anambra State Commissioner for Information, Law Mefor, in March 2025, suggesting that the Soludo-led administration had previously made efforts aimed at securing Kanu’s release as part of peace initiatives in the South-East.

The group expressed surprise that the same administration was now reportedly criticising former presidential candidate, Peter Obi, for making similar appeals for Kanu’s release.

It described the development as inconsistent, questioning what it called a shift in the governor’s stance on the matter and suggesting possible political undertones.

IPOB further maintained that the call for Kanu’s release cuts across political and regional lines, noting that prominent Nigerians, including the late Mbazulike Amaechi and former Ohanaeze Ndigbo President-General, George Obiozor, had also advocated dialogue and a political resolution of the issue.

The group noted Kanu’s continued incarceration remains a concern to its supporters and urged the Federal Government to consider his unconditional release, reaffirming its commitment to peaceful advocacy in pushing for his freedom.

Read The Full Story / Watch The Full Video

Continue Reading

Breaking News

Omoleye Sowore Blasts Court’s Order Deregistering of ADC, Says, ‘It Won’t Stand’

Published

on

The African Action Congress, AAC, presidential candidate, Omoyele Sowore, has condemned the Federal High Court ruling that directed the Independent National Electoral Commission, INEC, to deregister the African Democratic Congress, ADC, and four other political parties.

Sowore said this on Monday in a statement posted on his verified X handle.

According to him, the judgment was undemocratic and inconsistent with the principles of a multi-party system.

He equally stated that it was unacceptable for parties to be deregistered when they had already concluded their primaries and were preparing for future elections.

“It shall not stand. I totally condemn the deregistration of political parties that have already concluded their primaries and are preparing for general elections. Such an action is undemocratic and unjustifiable in a multi-party democracy,” he wrote.

DAILY POST recalls that Justice Peter Lifu of the Federal High Court in Abuja, on Monday ordered the Independent National Electoral Commission, INEC, to immediately deregister the ADC, Accord Party and others from participating in the 2027 general elections.

Read The Full Story / Watch The Full Video

Continue Reading

Trending