This is a 0.61 percentage point from the 26.72 percent that was recorded in September.

In its Consumer Price Index (October 2023) that was released on Wednesday, the NBS stated, “In October 2023, the headline inflation rate increased to 27.33 percent relative to the September 2023 headline inflation rate which was 26.72 percent.

“Looking at the movement, the October 2023 headline inflation rate showed an increase of 0.61 percentage points when compared to the September 2023 headline inflation rate.

“Furthermore, on a year-on-year basis, the headline inflation rate was 6.24 percentage points higher compared to the rate recorded in October 2022, which was (21.09 percent). This shows that the headline inflation rate (year-on-year basis) increased in October 2023 when compared to the same month in the preceding year (i.e., October 2022).”

Major contributors to the increase in inflation were food and non-alcoholic beverages, housing, water, electricity gas and other fuel, clothing and footwear, transport, furnishings, and household equipment and maintenance.

The continued rise in inflation has been attributed to the removal of petrol subsidies and the devaluation of the official exchange rate.

In its recent forecast for the year, KPMG predicted that Nigeria’s headline inflation may rise to 30 percent by December 2023 because of fuel subsidy removal, and the unification of the foreign exchange market.

The inflation rate in Africa’s biggest economy rose to a new 17-year high of 22.79 percent in June 2023 from 22.41 percent in the previous month.

The NBS report read, “In June 2023, the Headline inflation rate rose to 22.79 percent relative to May 2023 headline inflation rate, which was 22.41 percent. Looking at the movement, the June 2023 Headline inflation rate showed an increase of 0.38 percentage points when compared to May 2023 headline inflation rate.

“On a year-on-year basis, the Headline inflation rate was 4.19 percentage points higher compared to the rate recorded in June 2022, which was 18.60 percent. This shows that the Headline inflation rate (year-on-year basis) increased in June 2023 when compared to the same month in the preceding year (i.e., June 2022).”

Food and non-alcoholic beverages (11.81 percent) led the list of items that contributed to the rising inflation figure.

The World Bank had projected that the removal of fuel subsidy would contribute to the country’s increasing inflation.

In its June 2023 Nigeria Development Update, the bank said, “The removal of the petrol subsidy is anticipated to cause a temporary increase in inflation in the upcoming months before contributing to disinflation in the medium term.”

This was disclosed by the National Bureau of Statistics, on Tuesday in its just-released Rail Transport report for Q1 ’23.

The statistics body added that a total of 59,966 tonnes of goods were transported in the first quarter of 2023, compared to 39,379 tonnes reported in the same quarter of 2022.

In terms of revenue generation, N768.44 million was received from passengers over the period, a decrease of 63.02 per cent relative to N2.08 billion in the same quarter of the previous year.

“Similarly, N181.27 million was collected in Q1 2023 as revenue from goods/cargos, up by 99.28% from N90.96 million received in Q1 2022.

“In addition, other receipts amounted to N34.17 million, indicating a decline of 41.02% in Q1 2023, from the N57.92 million collected in Q1 2022.”

Following the terrorist attack on the train that occurred on March 28th, 2022, train trips were temporarily suspended on the Abuja to Kaduna corridor.

However, the corporation resumed services on the corridor in December 2022 with only two trips available.

In January this year, the PUNCH reported that the Abuja-Kaduna train detailed in Kubwa led to a reduction in trips on the rail corridor.

In the same month, it was reported that passengers waiting to board a train from the Igueben station in Igueben Local Government Area of Edo State to Warri in Delta State were kidnapped by suspected herdsmen.

Reacting, a Professor of Economics at the University of Ibadan, Prof Adeola Adenikinju, said several factors are responsible for the decline in patronage of rail services in some parts of Nigeria.

He stated that, firstly, the suspension of rail services in some parts of the country due to security concerns has made some travellers move to other transportation modes.

Prof. Adenikinju said the improvement in road conditions and enhanced security on the Lagos-Ibadan expressway has led some travellers to abandon rail transport in favour of road transport. This is because many now see road transportation as safer and more comfortable.

He said,” I would suggest the following reasons: Security concerns led to the suspension of rail services in parts of the country, which also made some travellers shift to other transportation modes. Improvements in road conditions and improved security on the Lagos Ibadan expressway also led some travellers to shift from the rail to the road.

The long travel time on some of the routes, as well as lack of flexibility in booking for the use of the train. Travellers have to pay cash and can only purchase tickets on-site. You can not buy online, and payment is only by cash, at least on the Lagos Ibadan axis.”

Also, a Professor of Economics at the Olabisi Onabanjo University, Sheriffdeen Tella, said,” It’s being affected by insecurities, the cost of transportation, i.e., fare compared with other modes, and maintenance of the facilities, i.e., maintaining a standard of operation.”

The high rate of unemployment in Nigeria and the improved Internet penetration have created more channels for job-seekers to hunt for jobs online, making more people susceptible scams.

According to the National Bureau of Statistics, approximately 37 per cent of the Nigerian labour force is currently unemployed. The NBS has recorded a steady increase in unemployment rate from 2018 to date; 23.1 per cent in 2018 to 33.3 per cent in 2020 with an estimated rate that increased to 37.7per cent in 2022.

KPMG, a multinational consulting firm, in a report titled, ‘KPMG Global Economy Outlook report, H1 2023,’ projected that the rate of unemployment in Nigeria would increase to 40.6 per cent in 2023.

According to the National Bureau of Statistics, approximately 37 per cent are currently unemployed. The NBS has recorded a steady increase in unemployment rate from 2018 to date; 23.1 per cent in 2018 to 33.3 per cent in 2020 with an estimated rate that increased to 37.7per cent in 2022.

KPMG, a multinational consulting firm, in a report titled, ‘KPMG Global Economy Outlook report, H1 2023,’ projected that the rate of unemployment in Nigeria would increase to 40.6 per cent in 2023.

In a journal titled “An Intelligent Model for Online Recruitment Fraud Detection” by Bandar Alghamdi and Fahad Alharby, revealed that in the last decade, modern organisations have widely deployed the internet and social media in employee recruitment.

According to the report, recently, the cloud was integrated into the procedure of recruiting new members, where managed cloud services or solutions are used by human resource managers. “Nevertheless, there are many violating risk threats increased by scams and frauds along with the wide interest and adopting of such embedded software,” it noted.

The report stated that cybercrime was one of the current risky crimes that face the world and threaten individuals’ and organisations’ security causing substantial losses.

Based on the cybersecurity ventures report 2021, the cost of cybercrime damages in the world was around $6tn annually. Thus, there is an urgent need for information security to ensure the confidentiality, integrity, and availability to combat these crimes. You avoid falling victim to recruitment scams through the implementation of the information security strategies such as prevention, detection, and response.

A cybersecurity engineer, Precious Olives, noted that active jobseekers need to be extremely vigilant and cautious when it comes to identifying and avoiding online recruitment scams.

With the rise of the digital age, he said that scammers have become increasingly intelligent with their schemes and were always finding new and inventive ways to lure unsuspecting victims into their traps.

Therefore, it is crucial for job-seekers to arm themselves with the right tools and knowledge to stay safe and avoid falling prey to these nefarious schemes.

The cybersecurity engineer stated that a recruitment scam is when cyber fraudsters pretend to be potential employers or recruitment agencies, tricking job-seekers into giving them money or personal information, adding that it is important to know how to identify recruitment scams so that one does not get tricked.

When it comes to identifying and avoiding online recruitment scams, Olives said there are a number of key factors to keep in mind.

Red flags

“Be careful of job offers that seem too good to be true – like getting a high-paying job without even having an interview. Be suspicious of emails or messages that ask for your personal information, like your bank account information, pins, and so on. Look out for spelling or grammatical errors in emails or messages – real employers and recruitment agencies usually do not make these kinds of mistakes. If you are not sure if an offer or message is real, you can always ask colleagues in the same field who have an idea of both salary structure and role ideas,” he explained.

Olives also encouraged jobseekers to always research the company requesting their service to be sure they are authentic, adding that they should be wary of recruitment websites that ask for money upfront or require them to submit personal information without providing any real job opportunities.jobseeker

He added that before applying for any job through a website, a jobseeker should research the website and the company thoroughly to ensure it is legitimate.

“If you are being pressured to make a decision quickly, without the opportunity to ask questions or conduct proper research, it could be a sign of a fraudulent scheme. Take your time and ensure that you understand everything before making any commitment. Watch out for emails that appear to be from legitimate companies, but have suspicious or unusual requests such as providing your personal information or banking details. Always verify the authenticity of emails by checking the sender’s email address, the message’s content, and any links that might be included.

“If a job offer is extended to you without any form of interview or screening process, it is a major red flag. Always make sure you have spoken with a representative of the company before accepting any offer. Lastly, always trust your instincts. If something feels off, it probably is. If a recruiter or job offer seems too good to be true, it is best to walk away and continue your search elsewhere. Remember, it is important to protect your personal information online and be cautious of anyone who asks for it,” he asserted.

According to Kaspersky, a cybersecurity company, fake jobs have been around for centuries but the internet, social networks, cryptocurrencies, and, of late, the upsurge in remote working has increased recruitment fraud.

To identify online recruitment scams, Kaspersky gave this advice in a blog post:

Actively use phishing

It is common for fake HR employees to correspond from accounts resembling corporate addresses, but which are actually hosted on phishing domains or free e-mail like Gmail. Anti-phishing tips can help you recognise a situation where a job questionnaire or the job advert itself is posted on a fraudulent site mimicking an official brand site.

Of course, it is hard to constantly be on the alert and check links and addresses, especially when you are already getting dizzy about this “dream job”. That is why you should delegate the task of tracking phishing links to a specially tailored tool that will warn you if you are trying to follow a malicious link and block it.

Leech off famous brands

Maybe a recruiting or consulting company is hiring you to work for a large, prestigious company, or even a government department. This does happen, but it is important to check that the recruiters actually work at the company and that at least one interview involves employees of the company itself.

It is worth checking out the reputation of the employer and recruiter. You can search the internet for a combination of “recruiter name” + “scammer” or “employer company” + “recruitment fraud” or “recruiting company name” + “reviews”. It also makes sense to check the jobs section of the brand’s website to ensure the job you are offered is there.

Request for money

This is the fundamental and most important rule. No matter what the payment is called —prepayment for equipment, training fees, purchase of certification materials, a registration fee, or security deposit — the requirement to invest your own money is the biggest, clearest sign that you are being “hired” by fraudsters.

Less demanding recruitment process

If you landed a relatively challenging and high-paying job at your first interview, there is reason to think twice. Extremely tight hiring and onboarding deadlines are also suspicious. Watch out for seemingly good jobs that do not have significant requirements for the applicant’s seniority, experience, and qualifications.

How to prevent online recruitment fraud

Identify how the employer reached you

The answer to this question is also important, as an attractive and unexpected job offer received when you are not searching for one is in itself suspicious. If you are really looking for work and put your resume and contact information on job sites, scammers may be knocking on your door alongside honest employers. Be on your guard.

Do not give out personal information in advance

The employment contract is usually signed on your first day at work. If you are asked for detailed smidgen personal information in advance, including bank details, you are better off simply not giving it.

Consult someone you trust

Show the vacancy and the recruiter’s correspondence to someone you trust. They might notice something you’ve missed. A second opinion is always useful even if there’s just the tiniest drop of doubt in your mind.

Double-check your future employer

Perhaps you know someone already working for the employing company. Ask about the company and talk to the people there you are friendly with. If they do not know your “recruiter”, or if the company is not hiring at all for the position you are being asked to interview for, you need to double down on your vigilance.

This is according to the NBS Consumer Price Index and Inflation Report for March 2023 released in Abuja on Monday.

According to the report, the figure is 0.13 per cent points higher compared to the 21.91 per cent recorded in February 2023.

It said on a year-on-year basis, the headline inflation rate in March 2023 was 6.13 per cent higher than the rate recorded in March 2022 at 15.92 per cent.

This shows that the headline inflation rate (year-on-year basis) increased in March 2023 when compared to the same period in March 2022.”

The report said the contributions of items on the divisional level to the increase in the headline index are food and non-alcoholic beverages at 11.42 per cent and housing, water, electricity, gas and other fuel at 3.69 per cent.

Others are clothing and footwear at .69 per cent; transport at 1.43 per cent; furnishings, household equipment and maintenance at 1.11 per cent and education at 0.87 per cent and health at 0.66 per cent.

“Miscellaneous goods and services at 0.37 per cent; restaurant and hotels at 0.27 per cent; alcoholic beverage, tobacco and kola at 0.24 per cent; recreation and culture at 0.15 per cent and communication at 0.15 per cent.”

It said the percentage change in the All-Items Index in March 2023 was 1.86 per cent on a month-on-month basis.

“This indicates a 0.15 per cent increase compared to the 1.71 per cent recorded in February 2023.

”This means that in March 2023, on average, the general price level was 0.15 per cent higher relative to February 2023.”

The percentage change in the average CPI for the 12 months ending March 2023 over the average of the CPI for the previous 12 months period was 20.37 per cent.

“This indicates a 3.83 per cent increase compared to the 16.54 per cent recorded in March 2022.”

It said increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

The report said the food inflation rate in March 2023 was 24.45 per cent on a year-on-year basis, which was 7.25 per cent higher compared to the rate recorded in March 2022 at 17.20 per cent.

“The rise in food inflation is caused by increases in prices of bread and cereals, potatoes, yams and other tubers, and oil and fat, fish, vegetable, fruits, meat, and spirits.”

It said on a month-on-month basis, the food inflation rate in March was 2.07 per cent, which was a 0.16 per cent rise compared to the rate recorded in February 2023 at 1.90 per cent.

The report said the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 19.86 per cent in March 2023 on a year-on-year basis.

“This increased by 5.94 per cent compared to 13.91 per cent recorded in March 2022.”

“On a month-on-month basis, the core inflation rate was 1.84 per cent in March 2023, which was a 0.78 per cent rise compared to what it stood at in February 2023 at 1.06 per cent.”

According to the report, the highest increases were recorded in prices of gas, passenger transport by Air, liquid fuel, fuels, lubricants for Personal transport equipment, and vehicles spare parts.

Others are maintenance and repair of personal transport equipment and solid fuel, medical services, and passenger transport by road, among others.

“The average 12-month annual inflation rate was 17.41 per cent for the 12 months ending March 2023, this was 3.85 per cent points higher than the 13.56 per cent recorded in March 2022.”

The report said on a year-on-year basis in March 2023, that the urban inflation rate was 23.07 per cent, which was 6.63 per cent higher compared to the 16.44 per cent recorded in March 2022.

“On a month-on-month basis, the urban inflation rate was 2.00 per cent in March 2023, representing a 0.15 per cent rise compared to February 2023 at 1.85 per cent.”

It said the corresponding 12-month average for the urban inflation rate was 21.00 per cent in March 2023.

“This was 3.90 per cent higher compared to the 17.10 per cent reported in March 2022.”

The report said on a year-on-year basis in March 2023, the rural inflation rate was 21.09 per cent, which was 5.67 per cent higher compared to the 15.42 per cent recorded in March 2022.

On a month-on-month basis, the rural inflation rate in March 2023 was 1.72 per cent, which increased by 0.14 per cent compared to February 2023 at 1.58 per cent.”

It said the corresponding 12-month average for the rural inflation rate in March 2023 was 19.79 per cent, which was 3.79 per cent higher compared to the 16.00 per cent recorded in March 2022.

On states’ profile analysis, the report showed in March 2023, all items inflation rate on a year-on-year basis was highest in Ondo at 25.38 per cent, followed by Bayelsa at 24.80 per cent, and Lagos at 24.66 per cent.

It, however, said the slowest rise in headline year-on-year inflation was recorded in Borno at 10.18 per cent, followed by Cross River/Sokoto at 19.24 per cent, and Benue at 20.01 per cent.

The report, however, said in March 2023, all items inflation rate on a month-on-month basis was highest in Bayelsa at 2.58 per cent, Nasarawa at 2.54 per cent and Lagos at 2.41 per cent.

“Anambra at 1.03 per cent followed by Ebonyi at 1.14 per cent and Zamfara at 1.27 per cent recorded the slowest rise in month-on-month inflation.”

The report said food inflation in March 2023, on a year-on-year basis, was highest in Kwara at 28.48 per cent, followed by Ondo at 28.22 per cent, and Lagos at 27.92 per cent.

Sokoto at 18.99 per cent, followed by Zamfara at 20.57 per cent and Plateau at 21.38 per cent recorded the slowest rise in food inflation on a year-on-year basis.’’

The report, however, said on a month-on-month basis, March 2023 food inflation was highest in Bayelsa at 3.11 per cent, followed by Rivers at 3.00 per cent, and Ondo at 2.98 per cent.

“With Bauchi at 1.03 per cent, followed by Zamfara at 1.08 per cent and Ogun at 1.13 per cent recorded the slowest rise on month-on-month inflation.”

This observation is contained in the NBS Statistical Report on Women and Men in Nigeria, for 2021, released in Abuja, on Tuesday.

The report noted that in spite of all the efforts to promote the contribution of women in the political domain and decision-making process, women have remained the least represented in governance.

Women, it meanwhile noted, constituted almost half of the electorate.

The report further observed that in Nigeria, women have never been appointed as Secretary to the Government of the Federation, nor elected as President or Vice-President since independence and the return of democracy in 1999 to the last election in 2019.

It maintained that the highest representation in the National Parliament of 7.2 per cent was recorded in 2007-2011.

“It was 6.6 per cent each in 2011 – 2015 and 2015 – 2019,” the NBS report noted.

According to NBS, a total of six women and 73 men occupied principal positions in the Senate in 2016 and 2017.

It further confirmed that, “The years 2018 and 2019 had the same figure of seven women and 72 men as principal officers.

“Only nine women out of 106 members of the House of Representatives occupied principal positions in 2019.”

It informed that from 2016 to 2019, only six women occupied the position of committee chairperson for each year, while in 2018 and 2019, a woman occupied the position of Minority
Senate Leader in the Senate.

The report put current women’s representation in National Parliament (National Assembly) 2019 at 6.2 per cent, while the men make up 93.8 per cent.

The NBS revealed all the more that available data from the Office of the Secretary to Government of the Federation (SGF) revealed the number of males and females appointed as ministers from 2016 – 2019.

It stressed, “In 2016, seven females were appointed, this decreased in 2017 to five females.

Female ministers appointed in 2018 were six and in 2019, only seven were among the 43 appointed ministers.”

In the case of the Judiciary, the report remarked that in Nigeria, 31.87 and 31.98 per cent were female members of National Judicial Officers in 2016 and 2017, respectively, while 2018 recorded 28.86 per cent, indicating a drop.

It said no female had been appointed as the Chief Justice of Nigeria, President of the National Industrial Court, and the Chief Registrar of the Supreme Court from 2016 to 2018.

“For the same period, females had been the President of the Court of Appeal (National Judicial Council), the NBS report concluded.

The per cent represents a 13.4 basis points increase compared to 21.91% recorded in the previous month.

It noted that food inflation was 24.45% in March 2023 from 24.35% in February 2023, while urban inflation was 23.07% and rural inflation was 21.09%.

The Bureau disclosed that the increase in the food index was driven by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.

The figure was contained in the National Bureau of Statistics report on trade statistics obtained by our correspondent.

Although the report did not state which agency imported the arms and ammunition, the said data for the report is from the Nigerian Customs Service through the Integrated Customs Information System, the Nigerian National Petroleum Corporation Limited, various companies in the upstream and downstream sectors of the oil industry, the Central Bank of Nigeria, Angila International Limited, Neroli Technologies Limited, Gojopal Nigeria Limited, Carmine Assayer Limited, the Federal Airports Authority of Nigeria, the Nigeria Civil Aviation Authority and the Nigerian Ports Authority among others.

Also contained in the report was the importation of arms and ammunition in 2018.

In 2018, N1.946bn worth of arms and ammunition were imported into the country, while in 2019, N12.773bn was spent on the importation of arms and ammunition.

For 2020, N29.236bn worth of arms was imported. In 2021, N72.5bn in arms and ammunition were imported, and for the third quarter of 2022, N8.368bn was spent on the importation of the commodities.

This amounts to a total of N124.82bn since 2018.

Before now, there had been debate over whether to begin the manufacturing of weapons in the country to reduce the cost of importation.

Last year, at a ministerial retreat,President Muhammadu Buhari promised that the Defence Industries Corporation of Nigeria would be resuscitated to produce weapons locally.

A security expert, Oladele Fajana, believed that since the nation has been unable to produce, importing is the next option.

He said, “It is good if we can produce our weapons ourselves. Even if we import, we won’t solely be depending on foreign countries for our weapons.

“I have seen some equipment being produced by DICON; they are trying; they just need to be encouraged and well-funded.

“However, the funds required to revive that company are greater than the funds spent on the importation of these weapons, but we have no choice but to import.”

This is, according to the NBS Selected Food Prices Watch Report for November 2022, released in Abuja on Monday.

The report said that the average price of 1kg bonelessbeef on a year-on-year basis, increased by 29.00 per cent from N1,812.03 recorded in November 2021 to N2,337.46 in November 2022.

“While on a month-on-month basis, 1kg boneless beef increased by 3.14 per cent from N2,266.24 recorded in October 2022.”

It showed that the average price of 1kg rice (local) increased on a year-on-year basis by 18.95 per cent from N421.02 in November 2021 to N500.80 in November 2022.

“On a month-on-month basis, the average price of this item increased by 2.73 per cent from N487.47 recorded in October 2022. ”

The report said the average price of 1kg of tomato on a year-on-year basis rose by 30.18 per cent from N350.15 in November 2021 to N455.13 in November 2022.

The figure is contained in an analysis of the first quarter to the third quarter of the National Bureau of Statistics’ foreign trade reports.

The reports revealed that most of the medications were imported from China, India, Malaysia, and the Netherlands.

The  medications imported in the second quarter were the highest, followed by the importations made in the first quarter and the third quarter.

Nigeria imported N63.01bn in medications in the first quarter (January to March), mostly from the Netherlands (N22.32bn), India (N18.77bn), China (N8.63bn), and France (N2.33bn).

There was, however, an increase in medication imports in the second quarter (April to June) worth N93.63bn. The medications imported for the quarter were primarily from Malaysia (N46.51bn), India (N26.02bn), China (N10.02bn), Germany (N2.06bn), and France (N1.3bn).

In the third quarter (July to September), the report revealed that medications worth N48.7bn were imported into Nigeria.

The import is among the ninth-highest in the quarter under review.

The data showed that Premium Motor Spirit topped the chart of imported goods with N1.2tn, followed by gas oil at N261.6bn and Durum wheat at N252.6bn.

Although the data did not specify where Nigeria imported most of the medications from, it showed that the top 10 import trading partners for the quarter were China, the Netherlands, India, Belgium, the United States, South Korea, the United Arab Emirates, the United Kingdom, Germany, and Norway.

Earlier in August, the Minister of Health, Dr Osagie Ehanire, decried the high dependency on the importation of health goods in the African region.

Ehanire, who spoke at the 72nd session of the World Health Organisation Regional Committee for Africa in Lome, Togo, said there was a need to increase the manufacturing capacity in Africa.

In a statement signed by the Deputy Director/Head, Media and Publicity, of the Federal Ministry of Health, Ahmadu Chindaya, the minister said the journey so far had not been easy for the sub-region due to its high dependency on imported goods.

Even though Nigeria is still recovering from COVID-19, Ehanire stated that the country is working hard to strengthen public health security to be better prepared for future challenges and to improve routine health care to achieve universal health coverage.