Rising Cost of Beans Pushes Food Inflation Higher in Nigeria, Economist Rewane Predicts

Renowned economist Bismarck Rewane has warned that Nigeria’s food inflation is set to rise in the coming weeks, with the price of beans becoming increasingly unaffordable. Speaking on Channels Television on Thursday, Rewane explained that several factors are contributing to the rising cost of food, particularly beans.

According to Rewane, floods that have devastated key farming regions such as Borno, Bauchi, and Sokoto, combined with the high cost of transporting goods from farms to markets, and the recent surge in petrol prices—from ₦600 to around ₦1,000 per liter—are all driving up the cost of food products across the country.

While some food items, including onions and rice, have seen slight reductions in prices, beans has experienced a sharp increase, making it inaccessible for many Nigerians. “Onions have dropped to ₦115,000, and rice is down to ₦110,000 from a high of ₦120,000. But beans has gone out of storage and out of reach,” Rewane said, attributing the price hike to the widespread damage caused by flooding in major agricultural states.

Despite the current challenges, Rewane expressed cautious optimism, noting that the federal government’s introduction of duty waivers on imported food items could help moderate prices in the long term. However, he predicted that food inflation will continue to rise in the short term, with headline inflation potentially reaching 34%.

“When the imported commodities benefiting from duty waivers arrive, we expect prices to start declining,” Rewane stated, emphasizing that the current inflationary pressure is temporary but significant.

NABTEB Releases 2024 Examination Results, Shows 65% Success Rate in Core Subjects

The National Business and Technical Examinations Board (NABTEB) has officially announced the results of the 2024 In-School National Business Certificate (NBC) and National Technical Certificate (NTC) examinations. Speaking in Benin, Edo State, Dr. Nnasia Ndareke Asanga, the acting Registrar of NABTEB, disclosed that 44,000 out of the 67,751 candidates who took the exams achieved five credits or more, including both Mathematics and English Language. This represents 65.35% of the total candidates.

Additionally, 62,235 candidates, or 92.42%, earned five credits or more with or without passing Mathematics and English Language.

A total of 67,751 candidates registered for the exams, which were held in 1,708 centers nationwide. Dr. Asanga highlighted several challenges affecting technical education in Nigeria, including limited funding, inadequate support, and insufficient recognition of Technical and Vocational Education and Training (TVET) programs by industries and communities.

“Improving technical education in Nigeria will require appropriate legislation, capacity building for educators, increased funding, better equipment, and the establishment of more technical colleges,” Asanga stated. He also emphasized that TVET could play a critical role in bridging the gap between education and unemployment in today’s innovation-driven economy.

This year’s results, however, reflected a slight decline in performance compared to 2023. The report also revealed that 349 candidates were involved in examination malpractice. Dr. Asanga condemned such practices, stressing that they undermine both educators and students by robbing learners of essential skills like critical thinking and problem-solving.

NABTEB, he reiterated, is committed to conducting examinations and skill-based assessments that lead to the awarding of Business, Vocational, and Technical Certificates at both Ordinary and Advanced levels.

Barcelona Eyes Neymar’s Return While Manchester United Plans Maguire Contract Extension


Barcelona is reportedly considering a move to re-sign Brazilian superstar Neymar as an alternative to their primary target, Erling Haaland, for the summer of 2025. According to Spanish publication Sport, the Catalan club views Neymar as a viable option should their attempts to secure Haaland from Manchester City fall short.

Currently with Al Hilal, the 32-year-old Neymar will become a free agent when his contract expires next summer, allowing him the flexibility to choose his next club without incurring any transfer fees. A return to Barcelona could serve as an ideal platform for Neymar to maintain his match fitness ahead of Brazil’s 2026 FIFA World Cup squad selection.

In related news, Manchester United is taking proactive steps to extend the contract of defender Harry Maguire. Football Insider reports that the club is preparing to offer the 31-year-old center-back a one-year extension. Maguire, who joined United for a hefty £80 million from Leicester in 2018, has seen his playing time decrease in recent seasons.

The England international was close to a move to West Ham for £30 million last summer, but the transfer fell through. To avoid losing him for free at the end of the current season, United is looking to trigger an extension to his contract.

Police Capture Four Infamous Kidnappers in Abuja Following Intense Surveillance

The Anti-Kidnapping Unit of the Federal Capital Territory (FCT) Police Command has successfully apprehended four notorious kidnappers who have been wreaking havoc in Abuja and surrounding areas.

According to Naija News, Police Public Relations Officer SP Josephine Adeh announced that the kidnappers were tracked down and arrested on October 1, 2024, after the command acted on reliable intelligence.

The suspects—identified as Yau Sani, a.k.a. Baba (an ex-convict), Nuhu, a.k.a. Giwa, Kabiru Mohammed, and Yusuf Hassan—were found at their criminal hideouts in Sauka, Abuja. They confessed to being involved in multiple kidnappings of unsuspecting residents in the FCT and had plans to target government institutions and estates in the area.

The police reiterated their commitment to eradicating crime within the FCT and urged the public to report any suspicious activities through the police emergency lines: 08032003913, 08028940883, 08061581938, and 07057337653.

In the statement, authorities revealed that this gang had previously attacked locations such as Dakwa, Dawaki, Aco estate, Dupe Village, Zuma rock, Kuchiko village, and several areas in Niger and Kaduna. They also led police to another hideout in Gauraka Forest, Suleja, Niger State, where four AK-47 rifles, thirteen magazines, and 162 rounds of live ammunition were recovered.

The suspects admitted to plotting further attacks on government institutions and estates within the FCT, which the police have successfully prevented. For complaints, members of the public can reach the Police Complaint Bureau at 09022222352 or the Crime Reporting Unit at 08107314192.

NBTE Advocates for Upgrade to National Polytechnic Commission

The National Board for Technical Education (NBTE) has called for its transformation into the National Polytechnic Commission, emphasizing the need for collaboration with the House Committee on Polytechnics to realize this goal. This plea was made by the NBTE Executive Secretary, Prof. Idris Bugaje, during a recent presentation to the House Committee, led by Chairman Fuad Laguda, during their oversight visit to the board in Kaduna.

Importance of Collaboration

Bugaje welcomed the committee’s visit, expressing optimism for greater collaboration to advance the technical education sector. He highlighted the ongoing struggle to upgrade the NBTE, asserting that the support of the House Committee is crucial to achieving this ambition.

Established by Decree No. 8 of 1977 and revised in 1985 and 1992, the NBTE oversees and regulates more than 700 Technical and Vocational Education and Training (TVET) institutions across Nigeria. Bugaje underscored the vital role that TVET plays in addressing the nation’s skills gap, particularly in the realm of infrastructure development.

Addressing Skill Gaps

“No economy can grow without infrastructure,” Bugaje stated, referencing major national projects like the AKK Gas Pipeline and Dangote Refinery. He lamented that many of these projects rely on skilled labor imported from Asia, leaving Nigerian youth unemployed.

Bugaje emphasized the importance of utilizing existing Skills Development Centres within polytechnics to train local youth effectively. He also pointed out significant challenges facing TVET institutions, including insufficient funding, outdated curricula, lack of modern equipment, and the stigmatization of TVET graduates.

Budget Concerns and the NSQF

In discussing the budget, Bugaje described the 2024 budget as particularly challenging due to substantial cuts made by the National Assembly. He stressed the need for adequate funding to revise the National Diploma and Higher National Diploma curricula within a five-year timeframe.

Additionally, he raised concerns about the National Skills Qualification Framework (NSQF), which was approved in 2013 and implemented in 2017. Bugaje warned that the NSQF is threatened by the recent ITF Amendment Act 2024 and stressed the importance of protecting this framework to align Nigeria’s skill development with global standards.

Land Dispute and Corruption Issues

Bugaje also addressed a longstanding land dispute in Abuja, where a portion of NBTE’s allocated land has been occupied unlawfully. He called for the Tinubu Administration’s investigation into this issue, alongside nine other critical cases of inherited corruption.

Commitment from House Committee

In response, the House Committee Chairman assured the NBTE of their commitment to supporting the organization. He pledged to collaborate closely with the NBTE to tackle the challenges facing TVET institutions and ensure that Nigeria’s skill development meets international standards. The meeting included various stakeholders from the education sector, indicating a broad interest in improving technical education in Nigeria.

FRSC Implements Town Hall Meetings to Address Road Traffic Crashes

The Federal Road Safety Corps (FRSC) has introduced new strategies aimed at reducing Road Traffic Crashes (RTCs) by shifting from traditional motor park rallies to community-based initiatives. This move was announced by the Corps Public Education Officer, Assistant Corps Marshal Olusegun Ogungbemide, in a statement released in Abuja on Thursday.

Key Changes in Strategy

Ogungbemide highlighted concerns regarding the decreasing effectiveness of motor park rallies, which had been the primary method of engaging drivers and the public in road safety education. He noted that the rallies often failed to reach their target audience effectively, as many drivers, particularly in the commercial sector, were not present during these events.

To address this, the FRSC has adopted town hall meetings and press conferences as alternative strategies to communicate road safety messages. This approach aims to better engage communities and ensure that crucial safety information reaches drivers and commuters where they are most likely to gather.

Focus on Community Engagement

The FRSC’s new method emphasizes:

  • Interactive Communication: Town hall meetings and press conferences will allow for more direct and engaging discussions about road safety, involving various stakeholders within the community.
  • Broader Reach: The use of mosques, churches, and other community settings will facilitate outreach to a wider audience, ensuring that road safety education is accessible to all segments of the population.
  • Addressing Lawlessness: With rising incidents of reckless driving and road traffic fatalities, the FRSC aims to address these issues directly through more effective public engagement.

Commitment to Safety

Ogungbemide reiterated the commitment of the Corps Marshal, Shehu Mohammed, to eradicating road traffic crashes by enhancing communication methods. The new strategy will also include special yearly campaigns during the ember months, a period typically associated with increased traffic and road safety risks.

He encouraged the public to actively participate in the new campaign methods, emphasizing the need for communal ownership of road safety initiatives. Engaging the public, particularly vulnerable commuters, is vital to averting the social and economic losses caused by RTCs.

The FRSC remains the leading agency in road traffic management and safety, dedicated to using clinical and enforcement strategies to foster safer road environments across the country.

Federal Government Removes VAT on Diesel and Cooking Gas to Boost Energy Sector

The Federal Government of Nigeria has announced significant tax relief measures aimed at stimulating investments in the oil and gas sector. Effective immediately, the importation of key energy products, including diesel, feed gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), electric vehicles, Liquefied Natural Gas infrastructure, and clean cooking equipment will no longer be subject to value-added tax (VAT).

Minister of Finance and Coordinating Minister for the Economy, Wale Edun, revealed these changes in a statement on Wednesday. The initiative is part of the government’s strategy to position Nigeria’s deep offshore basin as a leading destination for global oil and gas investments, enhance energy security, and facilitate a transition to cleaner energy sources.

According to the statement, which was signed by Director of Information and Public Relations, Mohammed Manga, the new VAT Modification Order 2024 is designed to reduce living costs and promote energy security. It complements recent divestment plans by ExxonMobil and Seplat, which are expected to receive ministerial approval soon.

The announcement outlined two major fiscal incentives: the Value Added Tax Modification Order 2024 and a Notice of Tax Incentives for Deep Offshore Oil & Gas Production. These measures reflect the administration’s commitment to revitalizing the energy sector and driving economic growth.

The government emphasized that these reforms are part of a broader initiative under President Bola Tinubu’s administration to enhance Nigeria’s competitiveness in the global oil and gas market and ensure sustainable growth within the industry.

Pat Utomi Critiques Nigeria’s Judiciary, Calls for Stronger Institutions and Values

Nigerian economist Pat Utomi has expressed deep concern over the state of the country’s judiciary, labeling it a “laughing stock.” Speaking on Channels Television’s Politics Today, he emphasized that Nigeria’s potential for greatness hinges on having individuals of character in positions of power.

Utomi attributed the decline in Nigeria’s culture and values to the collapse of key institutions, asserting that strong institutions, including the judiciary and the Independent National Electoral Commission (INEC), are essential for meaningful progress. He stated, “Ultimately, values shape human progress. When we have values and people of character and commitment to service in public authority, our country will turn around.”

He highlighted the need for a “values revolution” to restore integrity in governance, arguing that without reliable institutions, the nation cannot achieve its full potential. “The biggest challenge we have is that culture is in collapse in Nigeria,” Utomi noted, stressing that a commitment to building robust institutions is crucial for enforcing the rule of law.

Utomi concluded with a hopeful message, stating that Nigeria possesses the necessary human capital to lead the way to a brighter future, but only if values and strong institutions are prioritized.

Governors Lobby to Delay Implementation of Local Government Autonomy Following Supreme Court Ruling

As the submission date approaches for the report from the inter-ministerial committee on Local Government Areas (LGAs) autonomy, state governors in Nigeria are intensifying efforts to delay the enforcement of the Supreme Court ruling. This committee, led by Secretary to the Government of the Federation, George Akume, is expected to finalize its report by October 13.

In 2019, the Nigerian Financial Intelligence Unit (NFIU) established a regulation prohibiting transactions on joint accounts of state and local governments, mandating that funds be sent directly to local governments. This regulation also limited cash withdrawals from local government accounts to a maximum of ₦500,000 per day, with penalties for non-compliance. However, state governors, under the Nigerian Governors’ Forum, opposed this regulation, leading to its eventual revision.

In May 2024, the Federal Government filed a lawsuit aimed at curbing governors’ authority to receive and withhold federal allocations meant for local governments, seeking to prevent the unilateral dissolution of elected councils. The Supreme Court ruled on July 11 that governors cannot control local government funds and directed the Accountant-General of the Federation to ensure direct payments to local government accounts.

Following the ruling, the Federal Government formed a committee to facilitate the implementation of local government autonomy. This panel comprises several high-ranking officials, including the Minister of Finance, Attorney General, and representatives from local governments and state governors.

In a recent address marking Nigeria’s Independence Day, President Bola Tinubu pledged to uphold the financial autonomy of local governments, stating, “We are resolute in our determination to implement the Supreme Court judgment on the financial autonomy of local governments.” However, sources within the Presidency revealed that governors are pressuring officials to soften the enforcement of the Supreme Court ruling.

Hakeem Ambali, President of the National Union of Local Government Employees, confirmed that the committee is expected to submit its report by October 11 and expressed confidence in the President’s commitment to the issue.

Civil society organizations, including the Centre for Accountability and Open Leadership and the United Global Resolve for Peace, are urging the Federal Government to expedite the implementation of local government autonomy. They criticize governors for attempting to undermine the Supreme Court’s ruling, emphasizing the importance of adhering to the rule of law.

Debo Adeniran, chairman of the Centre for Accountability and Open Leadership, condemned the governors’ efforts, stating that their actions are self-serving and detrimental to local governance. Olaseni Shalom, Executive Director of the United Global Resolve for Peace, called for a bill in the National Assembly to eliminate ambiguity around local government autonomy and support fiscal independence.

The Coalition of United Political Parties has also urged immediate action from the Federal Government, emphasizing the urgency of implementing the Supreme Court ruling to ensure financial accountability at the local government level. They argue that any delay in enforcement undermines the integrity of the legal system and hinders local governance effectiveness.

Overall, the impending submission of the inter-ministerial committee’s report has heightened tensions between state governors and the Federal Government, raising concerns about the future of local government autonomy in Nigeria.

NANS Opposes NECO’s ₦50,000 Certificate Reprint Fee, Calls for Policy Review

The National Association of Nigerian Students (NANS) has expressed strong opposition to the recently introduced ₦50,000 fee by the National Examination Council (NECO) for reprinting certificates. This announcement was made by NECO’s Registrar, Dantani Wushishi, in Minna, Niger State.

According to NECO, the ₦50,000 fee for certificate reprints will be subject to periodic reviews, and requests will only be accepted within one year of the original certificate issuance.

NANS Clerk of the Senate, Comrade Abdulyekinn Odunayo, criticized this decision, labeling it an excessive and unfair commercialization of education. He argued that this fee would impose a significant financial burden on students, particularly in the current economic climate.

Odunayo stated, “The National Association of Nigerian Students (NANS) unequivocally condemns the outrageous decision by NECO to impose a ₦50,000 fee for certificate reprints. This draconian policy is a slap in the face of Nigerian students, who are already facing financial hardships and uncertainty.”

He emphasized that the fee would exacerbate financial exclusion, preventing many students from accessing their rightful certificates, and undermine NECO’s integrity regarding equitable education access.

NANS also raised concerns about NECO’s fee structures and transparency, suggesting potential fund mismanagement and inadequate service delivery. They urged NECO to reconsider its policies, advocating for a more student-friendly approach to education costs.

NANS has demanded an immediate reversal of the ₦50,000 fee and proposed that the charge be reduced, the certificate reprint period extended to five years, and that stakeholders engage in discussions to prioritize student interests in decision-making.

Odunayo concluded, “The National Association of Nigerian Students will not stand idly by while education is commercialized and students are exploited. We demand a reversal of the ₦50,000 fee, a reduction to a more affordable amount, an extension of the reprint request deadline to five years, and a stakeholder engagement process that ensures student-centric decision-making.”