Royal News

Author: Nurat Adedokun

  • Nigeria’s Inflation Drops, But Citizens Experience Rising Living Costs

    Nigeria’s Inflation Drops, But Citizens Experience Rising Living Costs

    Despite a fourth consecutive drop in Nigeria’s inflation rate, many citizens and businesses are yet to feel the expected economic relief.

    The National Bureau of Statistics (NBS) reported that inflation fell to 21.88 percent in July from 22.22 percent in June, continuing a downward trend since April 2025, when it stood at 23.7 percent month-on-month. The decline, alongside a Gross Domestic Product (GDP) growth to N372.8 trillion in 2024 after the rebase in July 2025, has been hailed by President Bola Ahmed Tinubu’s administration as a reflection of positive economic management.

    However, the reduction in headline inflation has not translated into tangible benefits for Nigerians. Food prices, energy costs, transportation fares, and interest rates remain elevated. A 50-kilogram bag of local rice costs between N69,000 and N75,000 in Abuja and Lagos, while fuel prices range from N865 to N925 per litre. Cooking gas sells for N1,000 to N1,200 per kilogram, and Band A electricity tariffs remain at N209.50 to N231.79 per kilowatt-hour.

    Economic experts have offered differing views on the significance of the July inflation data. Mazi Okechukwu Unegbu, former president of the Chartered Institute of Bankers of Nigeria (CIBN), described the official figures as disconnected from reality, stating, “There is a wide difference between the inflation figure by NBS and the reality on the ground. The government believes in statistics, ignoring realities.”

    Gbolade Idakolo, CEO of SD & D Capital Management, noted that while core inflation has declined due to Central Bank interventions, food inflation continues to rise due to insecurity in agrarian regions and exchange rate pressures affecting imported agricultural inputs. He stressed the need for stronger government policies to address these issues.

    Renowned economist Prof. Segun Ajibola explained that the headline inflation figure reflects a weighted basket of consumable items, which may not fully capture price fluctuations across Nigeria. “The inflation figure rolled out may not be representative of the real situation nationwide,” he said.

    The contrast between statistical improvements and everyday hardships has intensified debates over the effectiveness of current economic policies, highlighting the gap between macroeconomic indicators and the lived experiences of Nigerians.

  • Bandits Release Kwara Kidnap Victim Without Collecting Money

    Bandits Release Kwara Kidnap Victim Without Collecting Money

    Adam Gbechi, a resident of Lata-Nna community in Edu Local Government Area of Kwara State, has been released unharmed less than 24 hours after being abducted by armed bandits.

    According to local sources, Gbechi was kidnapped on Sunday night during a brazen attack on the community. His captors allegedly demanded a ransom of N150 million. However, the family confirmed that no money was paid for his release. A relative told Nupeko TV, Lafiagi, “No ransom was handed over,” highlighting the unusual nature of his release.

    Gbechi was abducted alongside his brother, Aji Hajaworo, and a married woman. While Hajaworo and the woman managed to escape shortly after the incident, Gbechi remained in the hands of his captors overnight. He returned home safely on Monday morning, bringing relief to his family and the wider community.

    The circumstances that led to Gbechi’s release remain unclear. Residents have expressed surprise and curiosity about the bandits’ decision, noting that it is uncommon for kidnappers in the area to release victims without payment. Community leaders and locals are calling for heightened vigilance and increased security measures to prevent future incidents.

    The attack underscores the ongoing challenges of banditry and insecurity in Edu Local Government Area and the wider Kwara State region, where residents continue to live under the threat of armed abductions. Authorities have yet to release an official statement regarding the incident or the reasons behind the victim’s sudden release.

    The swift and safe return of Gbechi has been welcomed by residents, who are urging both local and state security operatives to intensify patrols and interventions to protect vulnerable communities.

  • LASTMA Responds to Fatal Mile 2 Highway Crash

    LASTMA Responds to Fatal Mile 2 Highway Crash

    A lone driver was killed early Monday when his Toyota Highlander collided with a stationary commercial bus at the Volkswagen bus stop, inward Mile 2, Lagos.

    The fatal crash involved a Toyota Highlander (registration APP 150 EY) and a T4 commercial bus (registration KJA 328 XH), which had stopped illegally to pick up passengers. Eyewitnesses said the Highlander, reportedly traveling at high speed, lost control and struck the bus, killing the driver instantly.

    Operatives of the Lagos State Traffic Management Authority (LASTMA) recovered the victim’s remains and handed them over to the Ojo Police Division before they were deposited at the C-Niger Mortuary, Abule Ado. The accident caused severe traffic congestion along the Mile 2 corridor, which was later cleared after damaged vehicles were removed.

    LASTMA General Manager, Olalekan Bakare-Oki, condemned reckless driving and the illegal practice of stopping commercial buses along highways. He urged strict adherence to designated bus stops, emphasizing the need to protect lives.

    “The sanctity of human life must never be compromised by recklessness on our highways. We will continue to strengthen enforcement and intensify public enlightenment campaigns to curb preventable tragedies,” Bakare-Oki said.

  • Police Respond to Kidnappers’ Crash in Kokona LGA

    Police Respond to Kidnappers’ Crash in Kokona LGA

    A group of suspected kidnappers faced an unexpected setback on Monday morning when their getaway vehicle crashed at Angwan Mayo in Kokona Local Government Area, Nasarawa State, shortly after collecting ransom money.

    Eyewitnesses reported that the suspects were speeding away after securing payment from relatives of their captives when the vehicle lost control and veered off the road.

    Security operatives, including police and soldiers, quickly arrived at the scene, securing the area and taking control of the situation. Local residents praised the rapid response, noting that the prompt intervention prevented the suspects from fleeing into nearby communities.

    Authorities have yet to provide details regarding arrests, the amount of ransom recovered, or the condition of those inside the vehicle. Investigations are ongoing.

  • Akwa Ibom Law Enforcement Stops Kidnap Attempt, Arrests Two

    Akwa Ibom Law Enforcement Stops Kidnap Attempt, Arrests Two

    Operatives of the Akwa Ibom State Police Command successfully foiled a kidnapping attempt and arrested two suspects in Eket.

    According to a statement by the State Police Public Relations Officer, DSP Timfon John, the incident occurred on Saturday around 9:15 p.m. along Factory Road, Afia Nsit, Eket Local Government Area. A distress call from a concerned citizen alerted the command to the attempted abduction.

    The victim, who was about to drive into his home, reported that four men tried to force their way into his vehicle. “The commotion and prompt arrival of the joint police team caused the assailants to flee the scene,” the PPRO said.

    A subsequent pursuit led to the arrest of two suspects—one from Oyoku, Urue-Offong/Oruko LGA, and another from Udung-Uko LGA. Police operatives also conducted a search in an unfinished building in a nearby bush, recovering a sack bag containing a significant cache of weapons and other items.

    Recovered items included one AK-47 rifle with 15 rounds of ammunition and three magazines, one assault rifle with 52 rounds of ammunition and three magazines, one pump-action shotgun with six live cartridges, a Redmi 14C phone, a head warmer, charms, and a pair of black rubber sandals.

    DSP John stated that efforts are ongoing to apprehend the remaining fleeing suspects, and the command remains committed to ensuring the safety of residents across the state.

  • Bandit Attack Thwarted by Operation FANSAN YANMA in Katsina

    Bandit Attack Thwarted by Operation FANSAN YANMA in Katsina

     

    Security operatives have successfully foiled an attempted bandit raid in Malumfashi Local Government Area of Katsina State.

    According to security analyst Zagazola Makama, the incident occurred on Friday, August 16, around 9:45 p.m., when authorities received a distress call reporting that armed bandits were advancing toward Ruwan Sanyi, Unguwar Makera Village.

    “Troops of Operation FANSAN YANMA, working in coordination with the police and local vigilante groups, quickly mobilized to the area, engaging the bandits in a fierce gun battle that forced them to abandon their mission to kidnap residents and steal livestock,” Makama wrote in a post on his X handle on Monday.

    Two residents, Muhammad Inuwa and Babale Abdulkarim, sustained leg injuries during the attack. They were promptly taken to Malumfashi General Hospital, where they are receiving treatment and are reported to be in stable condition.

    Makama added that security forces have extended patrols to the Garin Gafa area of Kafur Local Government, actively pursuing the fleeing suspects.

    The prompt response highlights the ongoing efforts of security agencies in the region to combat banditry and protect local communities.

  • CAP, Beta Glass and Others Adapt to Naira Devaluation with Local Supply Chains

    CAP, Beta Glass and Others Adapt to Naira Devaluation with Local Supply Chains

    Nigeria’s manufacturers are increasingly sourcing raw materials locally as foreign exchange scarcity and naira devaluation disrupt imports, according to a Financial Times report released on Sunday.

    The shift comes in the wake of the Central Bank of Nigeria’s decision to float the naira last year as part of President Bola Tinubu’s reform agenda. While aimed at attracting investors and stabilising growth, the move triggered steep volatility that left manufacturers scrambling for dollars.

    Manufacturers, who account for about nine per cent of Nigeria’s GDP, were particularly hard hit. The Manufacturers Association of Nigeria (MAN) said roughly 800 companies shut down operations in 2024 due to soaring costs and reduced access to foreign currency. Multinationals including Procter & Gamble, GlaxoSmithKline, Bayer, and Unilever have also scaled back in recent years, citing Nigeria’s tough macroeconomic environment.

    For those that remained, the crisis forced a rethink. At Chemical and Allied Products (CAP), one of Nigeria’s largest paint producers, executives say the turmoil became a turning point.
    “From a supply chain point of view it was the worst period I have ever witnessed,” said Chief Supply Officer, Lekan Aluko, recalling early 2024 when the naira was devalued for the second time in eight months.

    Faced with surging input costs, CAP turned to local vendors for calcium carbonate, a compound used in paint manufacturing. Today, the company sources about 90 per cent of its needs domestically—down from a heavy reliance on imports from South Africa, Tunisia, and Egypt. CAP estimates it cut costs by 60 per cent in the 10 months to June 2025.

    “If we had not taken this measure, we would have had to increase pricing by an additional 50 per cent,” said CAP’s chief executive, Bolarin Okunowo.

    The trend is spreading. MAN data shows that local raw material use across the sector rose to 57.1 per cent in 2024, up five percentage points from the previous year. Analysts say companies are also becoming more innovative in sourcing, processing, and distribution strategies.

    In some cases, where raw materials are unavailable locally, firms are negotiating new models. Beta Glass, a major producer of bottles for beverage and pharmaceutical firms, now works with international suppliers who invoice in naira rather than dollars. This approach, according to CEO Alex Gendis, shields the company from direct forex exposure and reduces reliance on costly bank lending rates, which hover above 25 per cent.

    Challenges remain. Local suppliers often lack the capacity to meet industrial demand, while poor electricity supply, bad roads, and regulatory uncertainty weigh on production. Still, executives say the benefits of localisation outweigh the drawbacks, particularly as the naira shows signs of stabilising.

    “Business confidence has been going up in the measures we look at, such as consumer spending forecasts, and that shows us that things are trending in the right direction,” said Gendis.

    With Tinubu’s reforms gradually taking root, manufacturers hope their supply chain adjustments will help them weather future shocks in Africa’s largest economy.

  • Atiku, Obi Mocked by Presidency After APC Landslide

    Atiku, Obi Mocked by Presidency After APC Landslide

    The Presidency has mocked opposition leaders Atiku Abubakar and Peter Obi following the All Progressives Congress (APC)’s sweeping victory in last Saturday’s bye-elections.

    Presidential spokesperson Bayo Onanuga took to his X account on Monday morning, posting a photo featuring Atiku, Obi, and members of the African Democratic Congress (ADC), with the caption: “How is the market now?”

    Although he did not mention their names directly, the cryptic remark was widely interpreted as a jab at the opposition leaders, who had backed candidates against the ruling APC.

    The bye-elections were conducted to fill vacant legislative seats following the deaths or resignations of some lawmakers after the 2023 general elections.

    The APC emerged as the dominant winner, securing 12 out of the 16 available seats. According to results announced, the All Progressives Grand Alliance (APGA) won two seats, the Peoples Democratic Party (PDP) clinched one, and the New Nigeria Peoples Party (NNPP) also secured one.

    In Zamfara State, the election was declared inconclusive, pending further determination by the Independent National Electoral Commission (INEC).

    The outcome further consolidates the APC’s hold across several states, underscoring the ruling party’s strength ahead of future electoral contests.

  • Govt Approves ₦40.8bn for Township Road Rehabilitation in Kano

    Govt Approves ₦40.8bn for Township Road Rehabilitation in Kano

    The Kano State Government has awarded contracts worth over ₦40.8 billion for the construction and rehabilitation of 17 township roads across the metropolitan area.

    The projects, spread across Gwale, Nasarawa, Kumbotso, Fagge, Kano Municipal, Tarauni, Dala, and Ungogo local government areas, are expected to improve transportation, ease traffic flow, and boost economic activities in the state capital.

    Commissioner for Information, Ibrahim Waiya, disclosed the development on Tuesday during an inspection tour of completed and ongoing road projects alongside the National President of the Nigeria Union of Journalists (NUJ), Alhassan Yahaya.

    According to Waiya, the contracts include the Tudun-Yola–Gwarzo Road and Dansudau Bypass, valued at ₦1.896 billion, and the Jafar–Madobi Road and underpass, awarded at ₦1.323 billion. The rehabilitation of Sabo Bakin Zuwo Road and Muhammadu Buhari Road will cost ₦2.014 billion and ₦4.108 billion, respectively.

    Waiya stressed that upon completion, the road projects will not only ease the movement of residents and vehicles but also facilitate the transportation of goods from farms to markets, thereby stimulating local commerce and creating a more business-friendly environment in Kano.

  • Mama Lydia Yilwatda, Mother of APC Chair, Dies at Weekend

    Mama Lydia Yilwatda, Mother of APC Chair, Dies at Weekend

    The Plateau State chapter of the All Progressives Congress (APC) has been thrown into mourning following the death of Mama Lydia Yilwatda, mother of the party’s National Chairman, Prof. Nentawe Yilwatda.

    She passed away on Sunday, according to a statement issued by the acting Publicity Secretary of the party in the state, Shittu Bamaiyi.

    Bamaiyi, in the condolence message, described Mama Lydia’s death as a painful and devastating loss, not only to her immediate family but also to the entire APC family in Plateau State and across Nigeria.

    “There is no doubt that the late Mama’s death is painful and devastating to the Yilwatdas because she died at the time her motherly advice and prayers were most needed, particularly to the National Chairman, Professor Yilwatda,” the statement read.

    He noted that Mama Lydia was a devoted Christian and respected leader in the Church of Christ in Nations (COCIN). Alongside her late husband, Reverend Toma Yilwatda, she played a significant role in advancing the growth of the church in Borno, Yobe, Bauchi, and Plateau states.

    The party hailed her as a virtuous and humble woman whose life of service and faith left behind “an indelible and accomplished legacy manifested in her children.”

    While commiserating with Prof. Yilwatda, the Plateau APC prayed for God to grant him and his family the strength to bear the loss and for Mama Lydia’s soul to find eternal rest.

    Her passing has drawn condolences from political associates, church leaders, and community members, who described her as a pillar of support and a source of inspiration to many.