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Inflation above 30% in 19 states, FCT despite national easing

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Despite Nigeria’s headline inflation rate easing marginally in June 2026, residents in more than half of the country’s states continued to face annual inflation above 30 per cent, with Niger, Kogi and the Federal Capital Territory recording the highest rates.

The latest Consumer Price Index report released by the National Bureau of Statistics showed that headline inflation slowed slightly to 15.91 per cent in June from 15.93 per cent recorded in May.

However, an analysis of the state-by-state inflation data by The PUNCH showed that 19 states and the FCT, representing 20 of Nigeria’s 37 sub-national entities or 54.1 per cent, recorded annual all-items inflation rates above 30 per cent in June.

The analysis also showed that Imo, which recorded the country’s lowest annual inflation rate at 19.47 per cent, was still 3.56 percentage points higher than the national headline inflation rate, showing the wide disparity between the national average and inflation experienced across the states.

According to the NBS data, Niger recorded the highest annual headline inflation rate at 42.23 per cent, followed by Kogi with 41.59 per cent and the FCT with 39.91 per cent.

The NBS report read, “In June 2026, the All-Items inflation rate on a Year-on-Year basis was highest in Niger (42.23 per cent), Kogi (41.59 per cent), and Abuja (39.91 per cent), while Imo (19.47 per cent), Ebonyi (20.79 per cent) and Katsina (21.87 per cent) recorded the lowest rise in Headline inflation on a Year-on-Year basis.”

Other states with inflation rates above 30 per cent were Kwara (36.52 per cent), Plateau (35.82 per cent), Sokoto (35.22 per cent), Benue (35.06 per cent), Osun (34.46 per cent), Yobe (34.40 per cent), Kebbi (34.07 per cent), Enugu (34.00 per cent), Bauchi (33.68 per cent), Gombe (33.51 per cent), Oyo (32.81 per cent), Lagos (32.28 per cent), Akwa Ibom (31.85 per cent), Adamawa (31.82 per cent), Ekiti (31.00 per cent), Taraba (30.54 per cent), and Abia (30.28 per cent).

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The remaining 17 states recorded annual inflation below 30 per cent. Among them, Imo posted the lowest rate at 19.47 per cent, followed by Ebonyi (20.79 per cent) and Katsina (21.87 per cent).

Others were Rivers (23.73 per cent), Zamfara (24.00 per cent), Kaduna (24.71 per cent), Edo (25.90 per cent), Cross River (25.91 per cent), Delta (26.31 per cent), Borno (26.62 per cent), Kano (26.80 per cent), Anambra (27.37 per cent), Ondo (28.14 per cent), Ogun (28.18 per cent), Jigawa (29.06 per cent), Nasarawa (29.11 per cent), and Bayelsa (29.66 per cent).

The bureau, however, noted that inflation figures should not be used for direct interstate price comparisons because consumer spending patterns and the weighting assigned to goods and services differ across states.

The report also showed that food inflation remained considerably higher across many states than the national average. Kogi recorded the highest annual food inflation rate at 53.02 per cent, followed by Niger (43.83 per cent) and Benue (40.83 per cent).

The FCT recorded 40.20 per cent, while Adamawa (39.61 per cent), Osun (39.56 per cent), Kwara (39.00 per cent), Kebbi (37.59 per cent), Sokoto (37.01 per cent), Plateau (36.84 per cent), Yobe (36.68 per cent), Enugu (35.24 per cent), Gombe (34.43 per cent), Kaduna (34.41 per cent), Bayelsa (34.03 per cent), Jigawa (33.92 per cent), Ekiti (33.04 per cent), Akwa Ibom (32.93 per cent), Edo (32.66 per cent), Bauchi (31.54 per cent), Zamfara (30.84 per cent), Delta (30.66 per cent), Nasarawa (30.48 per cent), Cross River (30.39 per cent), and Oyo (30.17 per cent) also recorded food inflation above 30 per cent.

At the other end of the ranking, Katsina recorded the lowest annual food inflation rate at 19.15 per cent, followed by Rivers (23.81 per cent) and Imo (24.60 per cent).

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Nationally, food inflation stood at 17.52 per cent year-on-year in June, compared with 25.41 per cent in the corresponding period of 2025. On a month-on-month basis, however, food inflation accelerated to 3.75 per cent from 2.98 per cent in May, driven by increases in the prices of crayfish, fresh pepper, tomatoes, dried green peas, yam flour, water yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes and yam tubers, according to the NBS.

The state-level data also reflected divergent monthly price movements. Niger recorded the highest month-on-month headline inflation at 11.65 per cent, followed by Katsina (8.13 per cent), Kwara (7.52 per cent), Gombe (7.09 per cent), Kebbi (6.99 per cent), Plateau (6.53 per cent), and Lagos (6.37 per cent).

In contrast, Bayelsa recorded the largest monthly decline in headline inflation at -6.48 per cent, followed by Benue (-5.58 per cent), Cross River (-5.12 per cent), Borno (-4.37 per cent), and Anambra (-4.17 per cent).

For food inflation, Katsina recorded the highest month-on-month increase at 16.82 per cent, ahead of Kebbi (9.79 per cent) and Niger (8.96 per cent), while Borno (-3.54 per cent), Benue (-2.36 per cent), and Bayelsa (-1.34 per cent) recorded the biggest monthly declines.

Although Nigeria’s headline inflation rate eased marginally in June, the latest figures indicate that price pressures remain elevated across much of the country, with more than half of the states and the FCT still recording annual inflation above 30 per cent.

Commenting on the latest inflation figures, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said the June report pointed to a broad stabilisation in headline inflation but warned that rising food prices remained the biggest threat to households.

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Yusuf noted that while headline inflation eased marginally from 15.93 per cent in May to 15.91 per cent in June, the acceleration in food inflation showed that structural pressures persisted across the economy.

He said, “The dominant concern in the report is the renewed acceleration in food inflation. Year-on-year food inflation increased from 17.43 per cent to 17.52 per cent, while month-on-month food inflation rose sharply from 2.98 per cent to 3.75 per cent, the strongest monthly increase in several months. This suggests that food prices have resumed an upward trajectory after a brief period of moderation.”

According to him, food inflation remains the biggest driver of Nigeria’s cost-of-living crisis, eroding household purchasing power, worsening poverty and food insecurity, and weakening the inclusiveness of ongoing economic reforms.

Yusuf argued that the inflation challenge remained largely structural rather than monetary, citing insecurity, high transportation and logistics costs, elevated energy prices, rising fertiliser costs, supply chain disruptions and imported inflation as the major drivers of rising prices.

He added that the June inflation figures did not justify another monetary policy tightening by the Central Bank of Nigeria, saying the immediate priority should be coordinated structural reforms to boost food production, improve logistics, reduce energy and production costs, deepen domestic petroleum refining and strengthen productivity across the economy.

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NAFDAC destroys N8bn products, targets sachet alcohol in N’Central

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The National Agency for Food and Drug Administration and Control (NAFDAC) has confiscated and destroyed unwholesome, banned, fake and adulterated products worth more than N8 billion in the North-Central states.

Speaking during the destruction ceremony on Thursday in Lafia, the Nasarawa State capital, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, said the products were seized from manufacturing outfits, sales outlets, markets and motor parks across the zone.

The DG, who was represented by a Deputy Director of NAFDAC in the zone, Joseph Edor, said most of the confiscated products were banned alcoholic beverages in small volumes of less than 200 ml (20 cl).

According to her, NAFDAC was established by Decree No. 19 of 1993, as amended, with the mandate to protect and promote public health by ensuring that only quality, efficacious and regulated products are manufactured, imported, distributed and sold in Nigeria.

She explained that the agency banned alcoholic beverages in sachets and glass bottles of less than 200ml due to their availability, affordability and portability, which have made them easily abused by youths and underage schoolchildren.

“Research has shown that early exposure to alcohol affects the brain and other vital organs such as the liver and kidneys.

“It stymies the brain, resulting in mental retardation, brain damage, poor performance of pupils in school, low productivity and several types of illnesses,” she said.

The DG said the ban and subsequent raids were based on these abuses, addiction and adverse health effects, while other seized items included expired, fake and unwholesome food, drugs and cosmetics.

“It is in the course of carrying out these activities that this heap of unwholesome, banned, fake and adulterated products worth about eight billion naira was confiscated from manufacturing outfits, sales outlets, markets and motor parks.

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“The bulk of the products in that pile are predominantly banned alcoholic beverages in low volumes of less than 200ml (20cl),” she emphasised.

The Director-General further commended other law enforcement agencies, sister agencies and stakeholders for their continuous collaboration, especially in intelligence sharing and security cover during operations.

Also speaking at the event, the Nasarawa State Coordinator of NAFDAC, Dr Gyani Stephen, explained that the exercise was not targeted at hurting people but was intended to save lives.

He advised those in the habit of selling fake and banned products to desist or be ready to face the full wrath of the law, warning that the agency would come after them if they did not change their ways.

In his goodwill message, the Nasarawa State Commander of the National Drug Law Enforcement Agency, Daniel Saidu, represented by Yakubu Awoh, commended NAFDAC for saving lives through the regular seizure and destruction of expired and fake drugs.

He explained that if these dangerous products were allowed into the markets, they could have destroyed millions of lives and affected the mental health of many others.

Source: punchng.com

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Seven modular refineries to begin operations in 2027, read details

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Nigeria’s modular refining sector is expected to expand next year, with seven new refineries projected to commence operations with a combined capacity of 83,000 barrels per day, according to Argus Media’s George Maher-Bonnett.

Maher-Bonnett disclosed this in Lagos on Wednesday during a presentation at the OTL Africa Downstream conference, where he highlighted the changing dynamics of Nigeria’s petroleum products market amid rising local refining capacity and declining fuel demand.

In his presentation, titled ‘African Energy Outlook’, Maher-Bonnett said four modular refineries operated in Nigeria in September, with a combined capacity of 32,000 barrels per day.

“Four modular refineries operating in September, total 32,000 b/d capacity,” he said.

He added, “Seven new modular refineries to start next year“ with a total of 83,000 barrels per capacity.

The projected additions would represent more than two and a half times the combined capacity of the four modular refineries operating in September, potentially increasing the contribution of smaller refining facilities to Nigeria’s domestic petroleum products supply.

However, the presentation did not identify the seven proposed refineries, their owners or locations, or provide individual capacity figures and commissioning schedules.

Maher-Bonnett also highlighted the growing role of the Dangote Petroleum Refinery in improving Nigeria’s self-sufficiency in petroleum products, despite a decline in fuel demand during the year.

“Nigerian fuels demand is down this year,” the presentation stated, attributing the development to “higher flat prices.”

He added self-sufficiency is improving with Dangote ramp-up, projecting that modular refineries would play a growing role.

The presentation linked the decline in demand to higher prices and noted that the only government intervention during the period covered was an NNPC price reduction.

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“No government interventions, besides NNPC price cut this month,” it stated.

The expected expansion of modular refining capacity comes as Nigeria’s petroleum products market adjusts to increased domestic production and changing international trade flows.

Maher-Bonnett said the Dangote refinery is operating at a high rate, with steady petrol output, reducing the attractiveness of importing some petroleum products from Europe into West Africa.

“Dangote’s 700,000 bpd Lekki refinery is running hard, gasoline output is steady,” the presentation stated.

It also highlighted Ghana’s growing refining capacity, noting that the 45,000-barrel-per-day Tema refinery is ramping up production and improving the country’s self-sufficiency.

According to the presentation, the economics of shipping petroleum products from Europe to West Africa and from Europe to the United States has weakened, with freight costs further affecting the competitiveness of the routes.

Source: punchng.com

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Falana tasks Senate on recovery of $123bn, N66bn oil funds, read details

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Human rights lawyer, Femi Falana, has asked the National Assembly to compel the recovery of $123.17bn in alleged outstanding oil royalties, taxes and dividends, alongside N66.4bn, from the Nigerian National Petroleum Company Limited and other oil and gas companies.

In a letter dated 28 October, 2026, and titled ‘Request to Recover Dividends, Taxes and Royalties Worth $123.17bn and N66.4bn from NNPC and Other Companies and Remit Same to the Federation Account’, Falana urged the National Assembly to ensure that the alleged outstanding revenues were recovered and remitted to the federation account.

He warned that he would institute legal proceedings at the Federal High Court if the authorities failed to initiate measures to recover the funds within 14 days of receiving the letter.

In an acknowledged copy of the letter made available to The PUNCH on Thursday, the senior advocate said the outstanding revenues covered several categories, including $62bn in unpaid oil royalties, $23.1bn in alleged unremitted dividends from Nigeria LNG Limited, $6.071bn in outstanding industry revenues, and claims relating to stolen crude oil and refinery rehabilitation contracts.

The letter also cited a Supreme Court consent judgment delivered on 20 October, 2018, which it said directed the Federal Government to collect outstanding royalties accrued over 18 years under the Deep Offshore and Inland Basin Production Sharing Contracts Act.

According to Falana, the governments of Akwa Ibom, Bayelsa and Rivers states had approached the Supreme Court to compel the Federal Government to enforce the law, which provided for an upward review of royalties when international crude oil prices exceeded $20 per barrel.

He said a committee constituted by the Office of the Attorney-General of the Federation subsequently determined that $62bn in royalties had not been collected from international oil companies.

Falana added that Akwa Ibom and Rivers states later obtained a Federal High Court judgment for a combined $3.3bn, while Bayelsa State secured a separate judgment for $951m over their alleged entitlements from the outstanding royalties.

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He said the Federal Government had yet to comply with the judgments.

The lawyer also called for the recovery of $29bn linked to alleged crude oil theft and undeclared exports, citing investigations by the Nigerian Maritime Administration and Safety Agency and the House of Representatives.

He said lawyers engaged by NIMASA discovered that about 60.2 million barrels of crude oil, valued at $12.7bn, allegedly stolen from Nigeria, were discharged at the Port of Philadelphia in the United States between 2011 and 2014.

According to the letter, the lawyers submitted their findings to the Office of the Attorney-General after which they filed nine civil cases at the Federal High Court in Abuja and Lagos to recover the value of the alleged stolen crude oil and liquefied gas.

Falana further cited a 2016 House of Representatives ad hoc committee investigation, which he said found that $17bn worth of crude oil and liquefied natural gas had been exported from Nigeria without proper records.

He said the committee found that the crude oil was discharged at the ports of Houston and Lake Charles in the United States.

He urged the National Assembly to direct the Economic and Financial Crimes Commission to pursue the recovery of the funds from the companies allegedly involved.

On the NLNG dividends, Falana alleged that NNPC had failed to remit $23.1bn due to the Federal Government from its 49 per cent shareholding in NLNG.

He explained that NLNG, established in 1989, had paid more than $47bn in dividends to its shareholders over 26 years, with the Federal Government’s share paid through NNPC.

The other shareholders listed in the letter are Shell, with 25.6 per cent; TotalEnergies, 15 per cent; and Eni International, 10.4 per cent.

Falana argued that the dividends received by NNPC on behalf of the Federal Government should have been transferred to the Federation Account in accordance with Section 162 of the 1999 Constitution, as amended.

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He added that resolutions of the Senate and the House of Representatives calling for the remittance of the funds had allegedly been ignored.

The senior advocate also called for the recovery of $6.071bn and N66.4bn in outstanding revenues owed by oil and gas companies, citing the Nigerian Extractive Industries Transparency Initiative’s 2022/2023 Independent Oil and Gas Industry Report.

According to him, NEITI disclosed on 27 September, 2024, that the outstanding collectible revenues due to the Federal Government as of June 2024 stood at the stated amounts.

He said copies of the report were forwarded to both chambers of the National Assembly in November 2024 in line with the provisions of the NEITI Act.

Falana urged lawmakers to support NEITI in recovering the outstanding revenues without further delay.

The letter also questioned the outcome of the rehabilitation of the Port Harcourt, Warri and Kaduna refineries, for which the Federal Executive Council approved contracts totalling about $2.98bn in 2021.

It said the government approved $1.5bn for the rehabilitation of the Port Harcourt refineries in April 2021 and another $1.48bn for the Warri and Kaduna refineries in August of the same year.

Falana argued that NNPC announced in December 2024 that the Port Harcourt and Warri refineries had been substantially completed, while work on the Kaduna refinery was almost finished.

However, he cited NNPC’s subsequent announcement that the Warri refinery ceased operations on 25 January, 2025, following safety issues involving its crude distillation unit main heater. He also referred to the shutdown of the Port Harcourt refineries for planned maintenance in May 2025.

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He argued that the contractors had breached the terms of the rehabilitation agreements and called for the recovery of the contract sums.

“In view of the foregoing, we are compelled to request the Office of the Attorney-General to recover the total sum of $123.17bn and N66.4bn owed the Government of the Federation by the Nigerian National Petroleum Corporation Limited, and some oil and gas companies operating in Nigeria,” the letter stated.

Falana said recovering the funds would reduce the Federal Government’s dependence on external borrowing and provide additional revenue for the federation and the states.

He warned that failure to begin recovery measures within 14 days would prompt legal action.

“If you fail to initiate legal measures for the recovery of the aforesaid huge funds belonging to the Government of the Federation within 14 days of the receipt of this letter, we shall not hesitate to file the necessary processes in the Federal High Court with a view to compelling you to discharge the duty of your office,” he wrote.

Falana also defended his firm’s standing to pursue the matter, citing its involvement in drafting and submitting a bill to amend the Deep Offshore and Inland Basin Production Sharing Contracts Act in 2017.

He noted that the bill was adopted and sponsored by a senator, subsequently passing first reading in the Senate before the dissolution of the Eighth National Assembly. According to him, the Ninth National Assembly subsequently adopted and passed the amendment.

He recalled that the then President of the Senate, Ahmad Lawan, had said the amendment would increase the country’s revenue by at least $1.5bn annually.

Source: punchng.com

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