Business
Nigeria’s Inflation rate hits 33.20% in March- NBS
The National Bureau of Statistics NBS says Nigeria’s inflation rate jumped to 33.20% in March 2024 compared to February 2024 headline inflation rate which was 31.70%.
A report released by the NBS on Monday, April 15, reads
“Looking at the movement, the March 2024 headline inflation rate showed an increase of 1.50% points when compared to the February 2024 headline inflation rate.
“On a year-on-year basis, the headline inflation rate was 11.16% points higher compared to the rate recorded in March 2023, which was 22.04%. On a month-on-month basis, the headline inflation rate in March 2024 was 3.02%, which was 0.10% lower than the rate recorded in February 2024 (3.12%).
“This means that in the month of March 2024, the rate of increase in the average price level is less than the rate of increase in the average price level in February 2024.”
The inflation report by the NBS followed the hike of Nigeria’s interest rate from 22.75% to 24.75% by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).
The March inflation rate was released at a time when measures by the apex bank to strenghten the naira against foreign exchange have seen some positive results.
The naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ to about N1,100/$1 now.
Business
CBN launches new website
The Central Bank of Nigeria (CBN) has launched its newly redesigned website, www.cbn.gov.ng, scheduled to go live on Dec. 2.
Acting Director, Corporate Communications, CBN, Mrs Hakama Sidi Ali, made this known in a statement on Sunday in Lagos.
We are pleased to announce the launch of our newly redesigned website (www.cbn.gov.ng), which will be operational on Monday, December 2, 2024.
“The redesigned website introduces a variety of new content, which encompasses a broader spectrum of information regarding the bank’s mandate.
“Additionally, the website is responsive to mobile devices, facilitating navigation across various web browsers and devices.
“The bank is grateful for the feedback provided by the public, which served as a valuable guide for our redesign endeavours,” she said.
Sidi Ali said the CBN was committed to developing and enhancing the website to facilitate communication.
“Please follow our different social media channels linked on the website’s home page for more updates,” she said.
(NAN)
Business
No ban on sachet water – Lagos Govt
The Lagos State government has denied reports that it has placed a ban on sachet water.
The Commissioner for Environment and Water Resources, Tokunbo Wahab, made this clarification on Sunday in a statement posted on his official X account.
The commissioner’s comments followed a viral video which showed enforcement officers destroying packs of sachet water in Lagos.
Reacting to this, Wahab clarified that the officers in the viral video were staff of the National Agency for Food and Drug Administration and Control (NAFDAC) who went about their lawful responsibility to rid the society of unregistered and unsafe products in the interest of public safety and health.
“My attention has been drawn to a viral video showing some individuals bursting sachet water packs at factories and on buses.
“I wish to categorically state that these individuals are not enforcement officers from any Lagos State Government agency or the Lagos State Ministry of the Environment and Water Resources.
“Upon investigation, it was confirmed that the individuals in question are enforcement officers from the National Agency for Food and Drug Administration and Control (NAFDAC).
“Their actions are part of an enforcement exercise targeting sachet water that does not comply with NAFDAC regulations and in the interest of public health and safety.
“It is important to emphasise that Lagos State has not banned sachet water and does not have plans to do so. Our focus remains on effective plastic waste management.
“As part of our commitment, we are implementing mandatory Extended Producer Responsibility (EPR) for producers of polythene terephthalate (PET), sachets, and carrier bags of no less than 40 40 microns,” he stated.
Business
NAFDAC notifies Nigerians on fake anti-malaria drug in circulation
The National Agency for Food and Drug Administration and Control (NAFDAC) has notified the general public of the sale of counterfeit combiart (Artemether Lumefantrine 20/120mg) Dispersible Tablet in Nigeria.
The notification is in a public alert marked: No. 043/2024, issued on NAFDAC website, disclosing the date of manufacturing of the drug to be Feb. 2023 and June 2023.
It equally gave the expiring date of the drug as May 2026 and June 2026, as well as Batch No: 7225119 with NAFDAC Reg No: A11-0299.
The agency equally gave the manufacturer name and address as Strides Arcolab Limited, 36/7, Suragajakkanahalli, Indlavadi Cross, Anekal Taluk, Bangalore- 562 106, India.
NAFDAC, in the alert, said that all its zonal directors and state coordinators had been directed to carry out surveillance and mop up the counterfeit products within the zones and states.
It advised importers, distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain and avoid importation, distribution, sale, and usage of the counterfeit product.
It said that all medical products must be obtained from authorised/licenced suppliers and that products’ authenticity and physical condition must be carefully checked.
The alert also advised healthcare professionals and consumers to report any suspicion of the sale of substandard and falsified medicines or medical devices to the nearest NAFDAC office.
It urged Nigerians to call NAFDAC on 0800-162-3322 or report any suspicion event via email: sf.alert@nafdac.gov.ng.
“Healthcare professionals and patients are similarly encouraged to report adverse or side effects related to the use of medicinal products or devices to the nearest NAFDAC office, or through E-reporting platforms available on the NAFDAC website www.nafdac.gov.ng.,” it said
It advised Nigerians to reports any adverse effects via the Med-safety application available for download on android and IOS stores or via e-mail on pharmacovigilance@nafdac.gov.ng.
NAFDAC promised that the notice would be uploaded to the WHO Global Surveillance and Monitoring System (GSMS).
NAN
-
News4 days ago
Why we arrested investigative journalist, Fisayo Soyombo- Nigerian army
-
News5 days ago
FBI nabs Nigerian fraudster ‘Bobo Chicago’ over $2.8m scam
-
News5 days ago
Reps confirm Oluyede as Army Chief
-
News4 days ago
Appeal Court voids rape conviction of Lagos doctor, Olaleye
-
News5 days ago
Reps screen Oluyede as substantive COAS
-
Business4 days ago
Group commends NNPCL over revitalisation of Port Harcourt refinery
-
Politics5 days ago
Senate passes tax reform bills for second reading
-
News5 days ago
Customs orders sale of smuggled PMS to Yola residents at cheaper prices
-
News3 days ago
Abuja: NSCDC arrests four for vandalizing streetlight poles
-
News5 days ago
EFCC arrests suspected internet fraudster in Abuja
-
News3 days ago
Late Akwa Ibom first lady Patience Umo Eno buried amidst tears