IWD: Reveal Communications celebrates Johnson, Ogbe, Etim-Effiong, women shaping the PR industry in Nigeria

Posted on March 9, 2025 by Newsaccessadmin

In celebration of International Women’s Day, Reveal Communications recognizes the remarkable women driving innovation and excellence in Public Relations and Communications. These trailblazers are not only shaping narratives but also elevating brands, fostering industry growth, and inspiring the next generation.

Today, we shine a spotlight on three outstanding women whose contributions continue to redefine PR and media strategy in Nigeria and beyond.

Omawumi Ogbe – Award-Winning PR Leader and Reputation Manager

A force in Public Relations and Corporate Communications, Omawumi Ogbe is the Managing Partner of GLG Communications, one of Nigeria’s top PR and reputation management firms. Under her leadership, the firm has earned multiple awards, including the Best Innovation in PR at the 2022 LaPRIGA Awards.

With a postgraduate degree in Media and Communication from Pan-Atlantic University, Omawumi’s expertise spans brand strategy, media relations, and leadership training. Her impact extends beyond PR—she is the first female president of the Life Coaches Association of Nigeria (LCAN) and has received numerous accolades, including the 2023 Outstanding PR Personality of the Year by Marketing Edge.

Read Also: IWD: You’re bedrock of our nation, Tinubu tells women

Through her work, Omawumi continues to elevate brand perception, corporate storytelling, and personal development, making her a standout figure in PR.

Ifeoluwa Oluwatosin Johnson – Strategic Storyteller and Media Expert

With a career that spans Arise News and Souq News, Ifeoluwa Oluwatosin Johnson has made her mark as a leader in media relations, strategic communication, and content production. Her expertise in high-profile productions, audience engagement, and digital storytelling has helped brands and organizations connect with their audiences in meaningful ways.

As the founder of RJM Company, Ifeoluwa continues to craft compelling narratives and execute strategic communication plans, ensuring her clients maintain a strong presence in the ever-evolving media landscape. Her dedication to advocacy, brand positioning, and PR excellence makes her a key player in the industry.

Toyosi Etim-Effiong – Media Entrepreneur and Talent Strategist

A visionary in media entrepreneurship and talent representation, Toyosi Etim-Effiong is the founder of That Good Media, a company that bridges Nollywood and the global film industry, ensuring Nigerian creatives receive global recognition and equitable opportunities.

With a background in Economics (Bowen University), Economic Development (University of Nottingham), and Broadcast Journalism & Producing (New York Film Academy), Toyosi combines business strategy with creative storytelling. Her company has facilitated multi-million-naira deals for talents, expanding Nollywood’s reach to international markets.

Beyond her work in media strategy, Toyosi is passionate about women empowerment and mentorship. She has served as an FCMB SheVentures Mentor and played a key role on the board of the Green Girl Company, organizers of the Raising Girls Summit and Miss Nigeria pageant.

Reveal Communications Honors Women in PR

At Reveal Communications, we celebrate women breaking barriers, shaping industries, and leading innovation in PR, media, and communications. These three incredible women—Ifeoluwa Oluwatosin Johnson, Omawumi Ogbe, and Toyosi Etim-Effiong—embody excellence, resilience, and leadership, inspiring others to pursue greatness in the world of public relations.

On this International Women’s Day, we applaud their achievements and the contributions of countless women driving change in PR and beyond. Here’s to more women leading, thriving, and transforming the industry!

Shettima reaffirms Nigeria’s commitment to Africa’s digital trade agenda

Posted on March 9, 2025 by Newsaccessadmin

Vice-President Kashim Shettima, on Wednesday, reaffirmed Nigeria’s commitment to leading Africa’s digital trade agenda under the African Continental Free Trade Area (AfCFTA).

Shettima, represented by the Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, stated this on Wednesday at the AfCFTA Digital Trade Workshop and Global Market, in Abuja.

The News Agency of Nigeria (NAN) reports that the workshop, which brought together officials from the federal and state governments, and private sector experts, was themed: “Unlocking State Exports Potential.”

According to Shettima, Nigeria’s progress in digital commerce, services, and innovation, has positioned the country as the continent’s digital trade hub.

“Our innovations in mobile payments have transformed cross-border payments, financial inclusion, and digital transactions across the continent,” he stated.

” The AfCFTA Digital Trade Protocol aims to increase intra-African trade from 18 per cent in 2022 to 50 per cent by 2030.

“With over 109 million internet users and a thriving mobile economy, Nigeria has the foundation to lead Africa’s digital commerce evolution,” Shettima noted.

“The Internet economy is projected to contribute 5.2 per cent of Africa’s GDP this year, with the continent’s digital economy expected to reach $180 billion, up from 115 billion dollars in 2020.”

He noted that Nigeria had modernised its passport application system and invested in port infrastructure to streamline trade procedures, reduce customs processing times and enhancing the country’s ability to handle a major share of West Africa’s cargo.

“Let us move rapidly from the text of the protocol to the actuality of a digitally enabled trade as a catalyst for prosperity for all,” he added.

Earlier, the Minister of Youth Development, Mr Ayodele Olawande, described the workshop as a welcome development.

He recalled that in 2024, President Tinubu approved the Nigerian Youth Investment Fund to empower Nigeria’s young entrepreneurs and SMEs.

Also, Gov. Uba Sani of Kaduna State, said a nation that failed to embrace digital trade would certainly be left behind.

Sani, represented by his deputy, Dr Hadiza Balarabe, applauded the Tinubu administration for making significant strides in the ICT sector.

Read Also: Tinubu inaugurates multiple projects in Kogi

“Digital trade platforms have eliminated traditional trade barriers, allowing businesses, both big and small, to participate in regional and global markets like never before.

“Today, we are reminded of the immense potential that lies within the African Continental Free Trade Area in a world increasingly defined by interconnectivity.

“We must seize this moment, not merely as a challenge, but as a powerful catalyst for growth and development.

“Digital transformation stands today as the cornerstone of innovation and sustainable growth.

“With 65 per cent of our population under the age of 25, Nigeria possesses the demographic advantage to become a global digital powerhouse.“

On her part, the Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, commended the Vice-President for championing digital trade innovations.

Musawa said while Nigeria has the tools to unlock its potential in the sector, AfCFTA was an opportunity to leverage the nation’s strength, especially in the creative industry.

“As the Minister of Arts, Culture, Tourism and the Creative Economy, I believe that the creative and culture industries are not just mere expressions but are real powerful drivers of the economy.

“Our ministry is committed to positioning Nigeria’s creative sector as a cornerstone of export through growth under the free trade area.

“Through the Creative Economy Development Fund that was recently approved, we are pioneering a new frontier, enabling creators to transform their intellectual property into bankable assets.

“And I think this is a very important and formidable initiative,” the minister stated.

(NAN)

Wema Bank unveils activities for International Women’s Day 2025

Posted on March 7, 2025 by Newsaccessadmin

Wema Bank has announced plans to commemorate the International Women’s Day (IWD) 2025, further solidifying its position as a gender equality and inclusion-driven bank.

As part of its activities, Wema Bank will host the IWD 2025 Event on Tuesday, March 11, 2025, in Lagos, Nigeria.

The event with the theme: “Harnessing innovation & technology to accelerate financial inclusion for women,” will bring together influential women from various industries to discuss the importance of leveraging innovation and technology to promote financial inclusion for women.

The event will also feature the Big Sister Project of the Wema Women Network, which recognizes beneficiaries of the bank’s women-focused mentorship program. Additionally, the HeForShe Awards will be presented to male employees who have made significant contributions to women empowerment in the workspace.

Read Also: Wema Bank to boost entrepreneurship, investment with Hackaholics 6.0

Throughout the month of March, Wema Bank has curated various activities to celebrate and reward women across Nigeria. These include the Wema Bank 5 for 5 Promo Season 4 women’s month draw, where 131 women will receive N11,000,000 in cash rewards, and the Wema Women Network (WWN) outreach initiative for young female students.

Commenting on the bank’s commitment to women empowerment, MD/CEO Moruf Oseni (FCIB) stated: “In a world that is increasingly becoming digital, no conversation on sustainable development can be productive without giving consideration to how solutions in such regard will thrive and remain relevant as the world continues to evolve, As Nigeria’s oldest indigenous and leading innovative Bank, we are both deeply rooted in the advocacy for empowerment and remarkably forward thinking, so our mission of empowering lives is one that goes far beyond lip service”.

“We recognise the gap that exists in gender equality and as a pro-women bank, we have continued to develop new and more efficient ways to accelerate action for women empowerment. This is why we launched our women-focused proposition, SARA by Wema and this is why we are so intentional about making room for women in the spaces that matter and developing solutions that empower women to thrive in their personal and professional lives.

“So, for IWD 2025, we are thinking beyond the now, as always, and looking far into the future to accelerate action for sustainable women empowerment by maximising technology and innovation to amplify impact. With this futuristic mindset, we successfully provided over N50 billion in finance, disbursed $2.4 million in collaboration with the Islamic Development Finance under the BRAVE Women project, and reached over 2million women through various skills development, business support, and market access programme—and these are just some of our numbers between 2019 and 2023.

“Imagine how much progress can be made in the global quest for women empowerment if more individuals and institutions begin to replicate the Wema approach. This is the vision that has kept us driven for 8 decades and these are some of the important discussions we will address at the Wema Bank International Women’s Day 2025 Event”.

As the bank approaches its 80th anniversary, its IWD 2025 activities will reinforce its position as a leader in promoting gender equality and inclusion.

Wema Bank to boost entrepreneurship, investment with Hackaholics 6.0

Posted on March 6, 2025 by Newsaccessadmin

Wema Bank says it aims to further stimulate entrepreneurship, attract investment, and accelerate Nigeria’s economic development by fostering a thriving technology ecosystem that complements the creative economy.

Executive Director, Retail and Digital Business, Wema Bank, Mr Tunde Mabawonku, disclosed this at the sidelines of a news conference on call for applications for the sixth edition of the bank’s Hackaholics 6.0 initiative in Lagos.

Hackaholics 6.0 focuses on attracting “bold, cutting-edge solutions” in key sectors like AI, blockchain, renewable energy, customer experience, and cybersecurity.

He explained that the innitiative aligns with the bank’s strategic vision for its 80th anniversary in 2025, while it serves as a platform for developing solutions that address critical economic challenges.

According to him, the programme has the potential to generate innovations that create new avenues for economic activity and job creation, and has recorded past successes in areas like transportation and healthcare.

He emphasised that with the inmitiative, the bank focuses on Science, Technology, Engineering and Mathematics (STEM) education and technological innovation as essential for future economic competitiveness.

Similarly, Chief Transformation Officer, Wema Bank, Mr Babatunde Mumuni, said that the bank had continued to give support to innovative start-ups to progress.

He said, “From inception to date, we have had a total of 18 winners and we have given out about 200,000 U.S. dollars in grants to all the winners from inception to date.

Read Also: Tallest Building in Nigeria, other facts about FirstBank’s new headquarters you should know

“As the years have passed, we have continued to increase the prize money. And note that by saying grants, the focus of the bank has basically been to find ways to empower these guys to progress.”

Head of Innovation, Mr Solomon Ayodele, said the theme of the 2025 innovation programme is, “Steep beyond algorithms, engineering, disruptive innovation”.

According to him, imthe innitiative aims to position Africa at the forefront of global technology and will feature a dual-track approach for technical talent and high-growth startups, focusing on verticals like customer experience and financial inclusion.

He explained that Regional hackathons would be held across Nigeria’s six geopolitical zones and Lagos, culminating in a grand finale.

Expanding its reach, he said that the programme would also include events in Accra, Ghana, and Kigali in Rwanda, acknowledging the growing number of applications from these regions.

Ayodele emphasised the programme’s accessibility, welcoming applications from various tech professionals and startups.

He noted that finalists would have the opportunity to join an accelerator programme, gaining access to resources and potential funding.

Past participants, such as Sophia Sadeeq, Chief Executive Officer (CEO) of MyTherapist.ng, and Ugonna Ginigeme, CEO of FIGO, shared their success stories.

Sadeeq, winner of the Women-Led Prize, praised the programme’s mentorship and networking opportunities.

Ginigeme, winner of the MetaLog Prize, highlighted the significant partnership opportunities with the bank.

Both entrepreneurs encouraged startups to apply, citing the programme’s transformative impact. (NAN)

Tallest Building in Nigeria, other facts about FirstBank’s new headquarters you should know

Posted on March 5, 2025 by Newsaccessadmin

First Bank will, on Wednesday, March 5, 2025, conduct the groundbreaking ceremony for its new green-certified iconic head office building at Eko Atlantic City, Lagos.

A statement by Ag. Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Olayinka Ijabiyi, said the 40-storey building project is designed to be the tallest building in Nigeria.

“It will be an engineering and environmental delight due to its technologically advanced, eco-friendly and sophisticated construction which would set a new standard for the financial services sector in Africa,” the statement said in part.

Here are facts about First Bank’s new headquarters you should know

· Tallest Building in Nigeria – The new 40-storey headquarters will be the tallest building in the country once completed.

· Located in Eko Atlantic City – The structure will be situated in Eko Atlantic City, Lagos, a cutting-edge business and financial district built on reclaimed land.

· Eco-Friendly and Green-Certified – Designed with sustainability in mind, the headquarters will be energy-efficient, reducing operational costs and environmental impact.

Read Also: 10 affordable alternatives to DStv, GOtv in Nigeria

· A Landmark Engineering Marvel – The building will feature advanced technology and sophisticated architecture, setting a new benchmark for the banking industry.

· Symbol of First Bank’s Legacy – With over 130 years of banking history, First Bank’s new headquarters represents its commitment to growth, innovation, and excellence.

· Enhancing Financial Services – The modern facility will provide an enhanced banking experience for customers, employees, and stakeholders.

· Boosting Economic Growth – The new headquarters is expected to drive economic activities, attracting investments and reinforcing Lagos as a global financial hub.

· High-Profile Groundbreaking Ceremony – The project was launched with key dignitaries in attendance, including President Bola Ahmed Tinubu, top government officials, and business leaders.

· Femi Otedola’s Role – As Chairman of FirstHoldCo, Femi Otedola has emphasized the significance of this project in shaping the future of banking in Africa.

· A Bold Step for African Banking – The headquarters symbolizes First Bank’s ambition to lead Africa’s banking transformation, integrating technology, sustainability, and modern finance solutions.

10 affordable alternatives to DStv, GOtv in Nigeria

Posted on March 4, 2025 by Newsaccessadmin

MultiChoice Nigeria, the parent company of DStv and GOtv, on Monday announced a price hike on its subscription packages from Saturday, March 1, 2025.

New Subscription Rates for DStv and GOtv

DStv New Prices (Monthly Subscription)

Premium: ₦44,500

Compact+: ₦30,000

Compact: ₦19,000

Confam: ₦11,000

Yanga: ₦6,000

Padi: ₦4,400

HDPVR Access Service: ₦6,000

Access Fees: ₦6,000

XtraView: ₦6,000

GOtv New Prices (Monthly Subscription)

Supa+: ₦16,800

Supa: ₦11,400

Max: ₦8,500

Jolli: ₦5,800

Jinja: ₦3,900

Smallie: ₦1,900

Read Also: FULL LIST: Multichoice unveils new prices for DStv, GOtv subscription

As prices rise, Nigerian viewers are exploring alternative options, ranging from streaming platforms to affordable pay-TV services.

Here are 10 cost-effective substitutes:

1. Showmax

A streaming service offering Nollywood content, international movies, and live sports.

2. Netflix

Provides a vast collection of Nollywood and global content, with flexible subscription plans.

3. Amazon Prime Video

Features exclusive TV shows and movies, including Nigerian productions.

4. YouTube Premium

Allows ad-free video streaming and access to exclusive YouTube Originals.

5. IrokoTV

A Nigerian-based platform specializing in Nollywood films and African series.

6. Airtel TV

Offers a mix of local and international channels, available for Airtel subscribers.

7. MTN TV+

Provides affordable mobile streaming with access to various entertainment options.

8. FreeTV Nigeria

A government-backed free-to-air service providing local and international stations.

9. TStv Africa

A Nigerian pay-TV service with pay-as-you-watch pricing models.

10. StarTimes

A direct competitor to DStv and GOtv, offering diverse entertainment at lower costs.

With the new DStv and GOtv prices set to take effect, subscribers must weigh their options. Whether sticking with traditional pay-TV or exploring cost-effective streaming and satellite alternatives, Nigerian viewers now have more choices than ever.

As public outcry continues, it remains to be seen whether regulatory bodies will intervene or if the market will naturally shift toward more flexible and budget-friendly services.

FULL LIST: Multichoice unveils new prices for DStv, GOtv subscription

Posted on March 4, 2025 by Newsaccessadmin

MultiChoice Nigeria, the parent company of DStv and GOtv, has officially announced an upward price adjustment on its subscription packages, set to take effect from Saturday, March 1, 2025. The decision, which comes amid rising operational costs, has sparked discussions among subscribers and regulatory bodies.

The announcement comes despite the Federal Competition and Consumer Protection Commission (FCCPC) previously cautioning against arbitrary price hikes in the pay-TV sector. The FCCPC has consistently urged service providers to consider the economic hardship faced by consumers before making price adjustments.

In an official statement, John Ugbe, CEO of MultiChoice Nigeria, attributed the increase to rising operational expenses and reassured customers of the company’s commitment to delivering high-quality content and top-notch entertainment services.

“Price Adjustment on DStv and GOtv Packages

On Saturday, March 1, 2025, we will adjust our prices across all our packages on DStv and GOtv.

We understand the impact this change may have on you, our valued customer, but the rise in the cost of business operations has led us to make this difficult decision.

It remains our mission to provide the best entertainment and viewing experience to you, and we are committed to continuing to deliver high-quality content and unparalleled service.

“We thank you for your continued patronage and support.”

Revised Subscription Rates for DStv and GOtv

Below is the list of the new subscription rates for DStv and GOtv effective from March 1, 2025:

DStv New Prices (Monthly Subscription)

1. Premium: ₦44,500

2. Compact+: ₦30,000

3. Compact: ₦19,000

4. Confam: ₦11,000

5. Yanga: ₦6,000

6. Padi: ₦4,400

7. HDPVR Access Service: ₦6,000

8. Access Fees: ₦6,000

9. XtraView: ₦6,000

GOtv New Prices (Monthly Subscription)

1. Supa+: ₦16,800

2. Supa: ₦11,400

3. Max: ₦8,500

4. Jolli: ₦5,800

5. Jinja: ₦3,900

6. Smallie: ₦1,900

The announcement has triggered mixed reactions among Nigerian subscribers, with many expressing concerns about affordability given the country’s current economic challenges.

Consumer rights groups have voiced their disapproval, urging MultiChoice to reconsider its decision in light of the prevailing economic conditions. Several subscribers have also taken to social media platforms to air their grievances, questioning why the company frequently increases prices despite the tough financial climate.

Industry analysts suggest that while the price adjustments may be necessary for MultiChoice to sustain its operations, the move could lead to a decline in subscriptions, especially among low-income customers who may opt for alternative entertainment sources, including streaming services.

With the FCCPC already expressing concerns over the price increase, it remains to be seen whether the commission will take regulatory action against MultiChoice. In the past, the FCCPC has engaged MultiChoice on similar issues, advocating for flexible pricing models, pay-per-view options, and improved consumer-friendly policies.

As subscription costs rise, consumers are exploring alternative options, including digital streaming platforms such as Netflix, Amazon Prime Video, and Showmax. The affordability and flexibility of internet-based streaming services continue to attract more Nigerians, raising concerns about the long-term competitiveness of traditional pay-TV providers like DStv and GOtv.

With the new price structure set to take effect on March 1, 2025, subscribers will have to decide whether to continue with their current packages, downgrade, or explore other entertainment options. As public debate continues, industry stakeholders will be watching closely to see how MultiChoice navigates the backlash and whether regulatory bodies will step in to address consumer concerns.

Eterna Plc appoints Adeosun as new MD/CEO

Posted on January 17, 2025 by Newsaccessadmin

The Board of Directors of Eterna Plc has announced the appointment of Mr Olumide Adeosun as the new Managing Director/Chief Executive Officer of the company.

The appointment takes effect from Feb. 3.

This is contained in a statement on Thursday by Mr David Edet, the Company’s Secretary/Legal Adviser.

Edet commended the outgoing MD/CEO, Mr Abiola Lawal, who resigned effective Jan. 31, for his “exceptional leadership and significant contributions during his tenure.“

The Board congratulated Adeosun on his appointment and wished him “great success in his new role.”

Prior to his new appointment, Adeosun served as Group Executive Director at Rainoil Limited and as a Non-Executive Director at Eterna Industries Limited.

He is also the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and a dedicated advocate for clean energy.

He serves on the advisory boards of renewable energy firms and consultancies.

Adeosun is a finance and energy expert with over 25 years of experience in both sectors.

He began his career as a Business Analyst under the PricewaterhouseCoopers (PwC) UK graduate programme in London.

He later moved to BP Plc, where he held various senior roles in upstream finance, business support, and commercial operations.

In BP’s Strategic Origination team, Adeosun played a pivotal role in developing BP’s Africa trading strategy, which led to the establishment of BP Global West Africa Ltd in Nigeria.

Read Also: LASTMA rescued 1,075 from road crashes in 2024 – GM

As Vice President of Commercial Development, he spearheaded initiatives that led to a 300 per cent revenue growth within three years.

Adeosun’s experience also includes his time at PwC’s West Africa Energy Advisory team in Lagos, where he led transactions raising over $1.5 billion in infrastructure and energy investments.

He also oversaw the acquisition of a leading multinational midstream and downstream company.

In 2019, Adeosun was appointed CEO of Ardova Plc, where heexecuted a five-year transformation strategy focused on LPG and renewable energy.

He also led the successful bid for a majority stake in the Olua Field on OML 25, establishing a joint venture in record time.

Adeosun is a Member of the Financial Reporting Council of Nigeria, a Fellow of the Chartered Institute of Directors, and a Member of the Society of Petroleum Engineers (SPE).

He holds a Bachelor of Architecture degree from Woodbury University, California, and an MSc in Mathematics from Royal Holloway, University of London.

(NAN)

CBN sanctions 9 banks for failing to dispense cash via ATMs

Posted on January 15, 2025 by Newsaccessadmin

The Central Bank of Nigeria (CBN) says it has sanctioned some Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season.

According to a statement by Hakama Sidi-Ali, CBN’s Director, Corporate Communications Department, this is a clear message of zero tolerance for cash flow disruptions.

The affected banks are Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc,
Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc.

Sidi-Ali said that each of the banks was fined N150 million for non-compliance, in line with the CBN’s cash distribution guidelines, following spot checks on their branches.

She said that the enforcement
action followed repeated warnings from the CBN to financial institutions to guarantee seamless cash availability, particularly during periods of high demand.

“Communication with the banks revealed that the fines would be debited directly from their accounts with the apex bank.

“Ensuring seamless cash flow is paramount to maintaining public trust and economic stability.

“The CBN will not hesitate to impose further sanctions on any institution found violating its cash circulation guidelines,” she said.

Read Also: Fubara prays Appeal Court to vacate order stopping Rivers’ allocations

She said the CBN’s investigations and monitoring would continue to scrutinise cash hoarding and rationing, both at bank branches and by Point-of-Sale (POS) operators.

She added that the CBN was working with security agencies to crack down on illegal cash sales and operational violations, including enforcing POS operators’ daily cumulative withdrawal limit of N1.2 million.

She urged all financial institutions to comply with its guidelines, warning that further violations would attract swift and decisive sanctions.

The News Agency of Nigeria (NAN) reports that the CBN Governor, Yemi Cardoso, had earlier warned banks to strictly adhere to cash distribution policies or face severe penalties.

Cardoso gave the warning in his address at the Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Nov., 2024.

He underscored the apex bank’s commitment to maintaining a robust cash buffer to meet the need of Nigerians.

“Our focus remains on fostering trust, ensuring stability, and guaranteeing seamless cash circulation across the financial system,” Cardoso had said.

(NAN)

Food prices rose in October – NBS

Posted on November 26, 2024 by Newsaccessadmin

The National Bureau of Statistics (NBS) says prices of beans, eggs, bread, rice, and other food items witnessed significant price increases in October 2024.

The NBS said this in its Selected Food Prices Watch report for October 2024 released in Abuja on Tuesday.

The report said that the average price of 1kg of brown beans increased by 254.23 per cent from N790.01 recorded in October 2023 to N2,798.50 in October 2024.

“On a month-on-month basis, 1kg of brown beans increased by 2.19 per cent in October from the N2,738.59 recorded in September 2024.”

It said that the average price of medium-sized Agric eggs (12 pieces) increased by 140.21 per cent on a year-on-year basis from N1,112.22 in October 2023 to N2,671.60 in October 2024.

“On a month-on-month basis, the eggs increased by 7.42 per cent from the N2, 487.04 recorded in September 2024.”

The report said that the average price of sliced bread increased by 103.76 per cent on a year-on-year basis from N760.82 in October 2023 to N1,550.24 in October 2024.

“On a month-on-month basis, the price increased by 1.44 per cent from the N1,528.19 recorded in September 2024.”

In addition, the average price of 1kg of local rice rose by 137.32 per cent on a year-on-year basis from N819.42 recorded in October 2023 to N1,944.64 in October 2024.

“On a month-on-month basis, it increased by 1.56 per cent from N1,194.77 recorded in September 2024.”

Also, the report said that the average price of 1kg of boneless beef increased by 98.73 per cent on a year-on-year basis from N2,948.03 in October 2023 to N5,858.58 in October 2024.

Read Also: Covenant University emerges first in inter-disciplinary science research in West Africa

“On a month-on-month basis, the price increased by 3.99 per cent from the N5,633.60 recorded in September 2024.”

On state profile analysis, the report showed that in oc 2024, the highest average price of 1kg of brown beans was recorded in Bauchi at N3,750.00, while the lowest was recorded in Yobe at N1,749.52.

It said that Niger recorded the highest average price of medium size Agric eggs (12 pieces) at N3, 450.00, while the lowest was in Adamawa at N2,050.00.

The NBS said that the highest average price of sliced bread was recorded in Rivers at N1,867.14, while the lowest price was recorded in Yobe at N960.07.

According to the report, Kogi recorded the highest average price of 1kg local rice (sold loose) at N2,693.41, while the lowest was reported in Benue at N1,267. 25.

Analysis by zone showed that the average price of 1kg of brown beans was highest in the South-South at N3,274.39, followed by the North-Central at N2,990.02.

“The lowest price was recorded in the North-East at N2,294.29.”

The North-Central and South-East recorded the highest average price of medium size agric eggs(12 pieces) at N2,915.58 and N2,879.24, respectively, while the lowest price was in the South-West at N2,472.94.

The report said that the South-South recorded the highest average price of sliced bread at N1,829.25, followed by the South-East at N1,665.56, while the North-East recorded the lowest price at N1,360.85.

The NBS said also that the South-East and the South-West recorded the highest average price of 1kg of local rice(sold loose) at N2,146.08 and N2,011.05, respectively.

“The North-West recorded the lowest price of 1kg of local rice (sold loose) at N1,763.62.”

The News Agency of Nigeria(NAN) reports that in July, the federal government in a bid to address the incessant increase in food prices and ensure food security granted a 150-day duty-free import window for food commodities.

The suspended duty tariffs and taxes will be on the importation of certain food items across the land and sea borders which include maize, cowpeas, wheat, and husked brown rice.

However, experts have suggested more sustainable measures such as addressing the issue of insecurity, foreign exchange and transportation costs to address the soaring food prices and ensure food security.

(NAN)