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JUST IN: Nigeria’s Inflation Rate Rises To 32.7% [DETAILS]

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JUST IN: Nigeria’s Inflation Rate Rises To 32.7% [DETAILS]—-Nigeria’s inflation rate increased to 32.7 per cent in September, marking a reverse from two consecutive months of decline, where it stood at 32.15% in August.

TCN reports that This uptick was primarily attributed to a rise in Month-on-Month Food Inflation, which escalated to 2.64% from the previous 2.37%.

The National Bureau of Statistics (NBS) reported these findings in its Consumer Price Index (CPI) Report for September.

According to the Bureau, the headline inflation rate for September 2024 was recorded at 32.70%, in contrast to the August 2024 rate of 32.15%. This indicates an increase of 0.55% in the headline inflation rate from August to September 2024.

On a year-on-year comparison, the headline inflation rate was 5.98 percentage points higher than the rate observed in September 2023, which was 26.72%.

This data illustrates that the headline inflation rate rose on a year-on-year basis in September 2024 when compared to the same month in the previous year, September 2023.

“Furthermore, on a month-on-month basis, the Headline inflation rate in September 2024 was 2.52%, which was 0.30% higher than the rate recorded in August 2024 (2.22%).

“This means that in September 2024, the rate of increase in the average price level is higher than the rate of increase in the average price level in August 2024,” the NBS noted.

The NBS further said: “The Food inflation rate in September 2024 was 37.77% on a year-on-year basis, 7.13% points higher than the rate recorded in September 2023 (30.64%).

“The rise in Food inflation on a year-on-year basis was caused by increases in prices of the following items: Guinea Corn, Rice, Maize, Grains, Beans, etc. (Bread and Cereals Class), Yam, Water Yam, Cassava Tuber, etc (Potatoes, Yam & Other Tubers Class), Beer (Local and Foreign) (Tobacco Class), Lipton, Milo, Bournvita, etc.

“(Coffee, Tea & Cocoa Class) and Vegetable Oil, Palm Oil, etc (Oil & Fats Class).

“On a month-on-month basis, the Food inflation rate in September 2024 was 2.64% which shows a 0.27% increase compared to the rate recorded in August 2024 (2.37%).

“The rise can be attributed to the rate of increase in the average prices of Beer (Local and Foreign) (Tobacco Class), Vegetable Oil, Groundnut Oil, Palm Oil, etc (Oil & Fats Class), Beef, Gizzard, Dried Beef, etc (Meat Class), Lipton, Milo, Bournvita, etc (Coffee, Tea & Cocoa Class) and Milk, Egg etc (Milk,
cheese and Eggs Class).

“The average annual rate of Food inflation for the twelve months ending September 2024 over the previous twelve-month average was 37.53%, which was an 11.88% points increase from the average annual rate of change recorded in September 2023 (25.65%).”

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day—-Cityzens have reached a British record-equalling agreement with Chelsea for the Argentina international on Deadline Day, with Fernández set to undergo his medical.

Manchester City have agreed a £125 million deal with Chelsea to sign Enzo Fernández in one of the biggest transfers of Deadline Day.

The agreement, reported by Sky Sports and other leading outlets, will see the Argentina international leave Stamford Bridge for the Etihad Stadium in a move that matches the British transfer record previously set by Liverpool’s £125m signing of Alexander Isak.

Fernández is expected to undergo his medical before completing the transfer, with City working against the clock to finalise the deal before the summer transfer window closes.

Maresca Reunites With Fernández

The move will see Fernández reunite with Enzo Maresca, who previously coached him at Chelsea and is now Manchester City’s manager.

Maresca is understood to have been a major driving force behind City’s pursuit of the midfielder as he looks to reshape his squad and strengthen the centre of midfield.

Fernández played an important role during Maresca’s time at Stamford Bridge, helping Chelsea win major silverware before the Italian manager’s move to Manchester.

Chelsea Accept Record Fee

Chelsea signed Fernández from Benfica in January 2023 for approximately £107 million, making him one of the most expensive players in Premier League history at the time.

Just over three years later, Chelsea have agreed to sell the 25-year-old for £125 million, representing a significant return on their original investment.

The Argentine had recently been left out of Chelsea’s squad for successive matches, increasing speculation that his Stamford Bridge future was coming to an end.

City Make Deadline-Day Statement

Manchester City had been pursuing Fernández for much of the summer, but negotiations intensified dramatically as the transfer deadline approached.

Chelsea had previously valued their midfielder at around £120 million and had initially expected him to remain at the club after an earlier deadline for bids passed without a formal offer. However, City’s interest never disappeared, and the two clubs eventually found an agreement on Deadline Day.

The final £125 million package now puts Fernández level with the British transfer record.

Fernández Begins New Chapter

For Fernández, the transfer brings an end to a turbulent period at Chelsea and opens a new chapter under a manager he already knows.

The World Cup-winning midfielder arrived in England with enormous expectations after starring for Argentina and Benfica.

At Manchester City, he will be expected to become a central figure in Maresca’s midfield and help the club compete on multiple fronts.

A Record-Breaking Transfer

The £125 million agreement places Fernández among the most expensive players in football history and makes the Deadline Day transfer one of the biggest stories of the summer window.

City are now racing to complete the remaining formalities, including the medical, before the deadline.

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BREAKING: Leo Messi Announces Retirement From International Football After 21-Year Argentina Career

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BREAKING: Leo Messi Announces Retirement From International Football After 21-Year Argentina Career—-Argentina’s all-time leading scorer and most-capped player has called time on his international career after guiding the nation to the 2022 World Cup title and the 2026 final.

Argentina football legend Lionel Messi has announced his retirement from international football, bringing the curtain down on an extraordinary 21-year career with the national team.

The 39-year-old confirmed his decision on Monday through an emotional statement posted on Instagram, saying he had reached a point where he felt there was “nothing more to give” and that a new generation of Argentine players deserved an opportunity.

Messi’s announcement comes weeks after Argentina reached the 2026 FIFA World Cup final, where they were defeated by Spain. He had captained his country throughout the tournament and remained one of Argentina’s most influential players.

A Difficult Decision for Argentina’s Greatest

Messi admitted that walking away from the national team was an extremely painful decision.

The Argentine icon revealed that he had already written his retirement message on July 21, two days after the World Cup final, but did not immediately make the decision public.

The recent death of his father, Jorge Messi, earlier in August further strengthened his resolve to step away from international football.

Messi said he had always given everything to Argentina and believed the time had come to allow younger players to take over.

A Record-Breaking International Career

Messi leaves the Argentina national team as the country’s most-capped player and all-time leading goalscorer, having made 207 appearances and scored 125 goals.

His international career finally brought the major trophies that had once appeared out of reach.

After heartbreaking defeats in major finals, Messi eventually led Argentina to the 2021 Copa América, followed by the 2022 Finalissima and, most importantly, the 2022 FIFA World Cup in Qatar.

He also helped Argentina reach the 2026 World Cup final, giving him another memorable chapter in the national team’s history.

The End of an Era

Messi made his Argentina senior debut in 2005, beginning a journey that would span more than two decades.

He endured criticism and disappointment early in his international career, particularly after Argentina’s defeats in major finals. But his persistence ultimately transformed his relationship with the national team and its supporters.

The World Cup triumph in Qatar cemented his status as an Argentine football legend, while his record-breaking statistics placed him among the greatest international players in football history.

Messi Says He Will Support Argentina From Outside

Although his playing days with Argentina are over, Messi made it clear that his love for the national team has not changed.

He said he would now support the team as a fan, cheering them on through the good times and the difficult moments.

His departure leaves Argentina without the player who has been at the centre of its football identity for more than 20 years.

For a generation of supporters, the sight of Messi wearing Argentina’s famous No. 10 shirt will now belong to history.

Lionel Messi leaves international football with 207 caps, 125 goals, a World Cup title, two Copa América titles and an extraordinary legacy as one of Argentina’s greatest-ever footballers.

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