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Nigeria’s Inflation Rate Drops To 11.22 Percent In June

Published

6 years ago

July 15, 2019

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.

Latest data released by the National Bureau of Statistics (NBS) on Tuesday showed 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.”

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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Nigeria’s Historic Bid for the 2030 Commonwealth Games: A Call for National and Global Support

Published

6 days ago

September 30, 2025

The Gleamer

Joel Ajayi

Nigeria is poised to make history as it seeks to host the Centenary Commonwealth Games in 2030, a monumental opportunity that promises to transform the nation’s economy, infrastructure, and global standing.

More than a sporting spectacle, the Games would serve as a catalyst for development across multiple sectors, leaving behind a legacy of national pride and sustainable growth.

The benefits of hosting the Games extend far beyond the sports arena. Nigeria stands to gain both empirical and non-empirical advantages, with direct, indirect, and induced impacts that will touch every corner of society. Infrastructural development will take center stage, with new facilities such as indoor sports halls, conference centers, and improved road networks reshaping urban landscapes while strengthening the nation’s capacity to host future international events.

Economic growth is another significant dividend. Over 10,000 jobs are expected to be created, spanning construction, facility management, event planning, and tourism services.

The hospitality industry will undergo major improvements as hotels and resorts are upgraded to meet international standards, while local restaurants, lounges, and tourist attractions will see a surge in patronage from international visitors. Small and medium enterprises, particularly in the transport, finance, and food service sectors, will become some of the greatest beneficiaries, as the Games generate new demand and expand opportunities for local businesses.
The Commonwealth Games will also accelerate the growth of Nigeria’s sports industry.

Investments in training facilities, coaching, and talent development will inspire a new generation of athletes, ensuring long-term benefits that extend beyond 2030, a major focus of the President Bola Tinubu administration.
At the same time, the process of preparing for the Games will create opportunities for Nigerians to learn new crafts, acquire technical skills, and engage in global-standard event management, thereby strengthening human capacity and innovation across industries.

Mallam Shehu Dikko, Chairman of the Nigeria Sports Commission, and Hon. Bukola Olopade, the Director General, have been widely recognized for their tireless and visionary leadership in repositioning Nigeria’s sporting sector.

Their commitment to facilitating infrastructural development and strengthening grassroots sports development has laid the foundation for Nigeria’s bold bid to host the 2030 Commonwealth Games. Under their leadership, the NSC is fostering strategic partnerships and driving innovation in sports administration, they have demonstrated the nation’s readiness to stage an event of such global magnitude.

Beyond the tangible gains, the hosting of the 2030 Commonwealth Games carries profound symbolic value. It would be a moment of unity and pride, a chance for Nigeria to showcase its cultural richness, resilience, and excellence to the world.
As a centenary edition, the Games would stand as a historic milestone not just for the Commonwealth but for Nigeria itself, cementing its place on the global stage as a capable, ambitious, and forward-looking nation.

The gains from hosting the Commonwealth Games can never be undermined or overemphasized. This is Nigeria’s time to step forward and show the world our resilience, and excellence. We call on every Nigerian, across sectors and communities, to support this noble aspiration.

Nigeria’s pursuit of the 2030 Commonwealth Games is a vision for transformation, a blueprint for national development, and a legacy project that will inspire generations to come.

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