By Tony Obiechina, Abuja

The National Bureau of Statistics (NBS) on Monday said Nigeria’s headline inflation rate rose to 34.60% in Nov. from 33.88% in Oct.

The November inflation rate showed an increase of 0.72% points compared to the October 2024 inflation rate, according to NBS’s latest Consumer Price Index (CPI) report which measures the rate of change in prices of goods and services.

“On a year-on-year basis, the Headline inflation rate was 6.

40% points higher than the rate recorded in November 2023 (28.20%). This shows that the Headline inflation rate (year-on-year basis) increased in November 2024 compared to the same month in the preceding year (i.e., November 2023),” the Bureau said.

Significantly, the food inflation rate in November 2024 was 39.93% on a year-on-year basis, 7.08% points higher than the rate recorded in November 2023 (32.84%).

On a month-on-month basis, the food inflation rate in November 2024 was 2.98% which shows 0.05% points increase compared to the rate recorded in October 2024 (2.94%).

The rise in food inflation is attributed to the rate of increase in the average prices of mudfish, catfish dried, dried fish sardine, rice, yam flour, millet whole grain, corn flour, agric egg, powdered milk, fresh milk, dried beef, goat meat, frozen chicken, among others.

Food and commodity inflation have skyrocketed as Nigerians battle what can pass for the worst cost of living crisis since the country’s independence over six decades ago.

Bretton Woods’ institutions like the World Bank and the International Monetary Fund had advocated the removal of energy subsidies and the floating of the naira, saying failure to effect the two economic policies has plunged Nigeria into severe inflationary pressures.

From Attah Ede, Makurdi & Laide Akinboade, Abuja

Four more bodies of passengers of the boat that capsized on Saturday on River Benue were recovered yesterday.

The Benue State police command confirmed in Makurdi, the state capital.

The ill-fated wooden boat was conveying several goods and passengers returning from Ocholonya market in Agatu Local Government Area of Benue State to Udei in Nasarawa Toto Local Government Area of Nasarawa State after close of market but capsized shortly after taken off.

The Benue State Police Public Relations Officer (PPRO), Catherine Anene in a statement made available to newsmen in Makurdi yesterday said 11 persons were rescued unhurt.

According to her, 10 persons were earlier rescued unconscious and eight others were resuscitated and are responding to treatment, while two have been confirmed dead and deposited in the mortuary.

“We can confirm a total dead of six persons and three still missing as at 4:00pm, 16th December 2024.

“Four more corpses were recovered today [yesterday] while three persons are still missing,” Anene said.

However, the National Emergency Management Agency (NEMA) has said 49 persons have been rescued and three dead bodies recovered.

This was contained in a statement by NEMA yesterday in Abuja.

The statement reads, “A total of 49 persons have been rescued and three dead bodies recovered so far from the boat accident that occurred along River Benue in Agatu Local Government Area of Benue State.

“The accident involved 76 passengers in the boat, as the driver, unaware of a submerged tree in the river, accidentally navigated into it, causing the boat to tip off and capsized.

“The unfortunate incident took place on Saturday 15th December around 7:00pm. The passengers were said to be returning home from the Ocholonya Market, a major economic hub that draws traders from several communities in Agatu and neighboring states, including Nasarawa State.

“Beside the rescued passengers, one of the victims managed to swim to safety while 23 persons are still missing. Most of the boat passengers were from Odenyi Magaji and other communities of Nasarawa State.

“The National Emergency Management Agency (NEMA) is working with the Benue State Emergency Management Agency and other stakeholders including the local authorities and divers to expedite the ongoing search and rescue operations to trace the remaining missing passengers.

“NEMA has also established contacts with the Nigerian Navy to provide more support for the search and rescue.”

Meanwhile, the Nigeria Governors’ Forum (NGF) has commiserated with the people and government of Benue State on the incident.

The forum commends the emergency responders for rescuing 11 of the travellers alive.

The NGF in a statement signed by its chairman, AbdulRaman AbdulRazaq yesterday said that it commiserated with the Benue State governor on the sad incident.

AbdulRazaq said, “We send our commiserations to His Excellency Governor Rev Fr Hyacinth Alia and the people of the state on the sad incident. We beseech God Almighty to repose the souls of those who died in the incident.

“The NGF, however, called on the Nigeria Inland Waterways Agency to step up its activities by enforcing rules guiding water transport to prevent the recurrence of accidents on Nigerian rivers.

“It also appealed to boat operators from carrying an overload of passengers on their boats and urged citizens to avoid night journeys.

“Similarly, we again call on regulatory authorities to step up oversights and enforcements to prevent these recurring incidents, while urging citizens and boat operators to avoid night travels, overloads, and adhere to all safety protocols at all times in the larger interest of everyone.”

Our correspondent learnt that the passengers were not wearing life jackets.

An eyewitness who identified himself as  Fada Awatsu, told journalists in Makurdi, that the mishap was caused by overload, adding that shortly after it takeoff, there was uproar by passengers.

He said the affected victims were mostly market women and children from Agatu, Agbashi, Ajima, Okpata, Rukubi, Ondoli, Odadu in Doma LGA of Nasarawa State and were returning home the market.

Awatsu disclosed that, as at this morning, Sunday, 20 corpses have been recovered so far , while efforts are being  intensify to rescue other survivors.

When contacted, the Chairman of Agatu Local Government council, Melvin Ejeh confirmed the incident, describing it as unfortunate and very pathetic.

He said, “The victims were returning from Ocholonya market to their village in nearby Nasarawa state where the boat they were traveling with, got sinker.

“The view of the sailor was obstructed by shrubs in the river and when the canoe hit the trees, it crashed and capsized.

“So far, over 20 dead bodies have been recovered and rescue operations are still ongoing.”

Stakeholders in the housing sector have called for reforms like property tax to address the growing issue of unoccupied houses, and tax relief to encourage developers to build more houses.

The stakeholders said this at the 6th Edition of the African Housing Awards organised by the Housing Development Advocacy Network (HDAN) in Abuja.

They said that the reforms would aid in tackling the nation’s housing deficit.

The Convener of Award, Festus Adebayo, said that property tax could encourage property owners to either sell or rent out their vacant properties thereby reducing the number of unused houses.

Adebayo, who is also the Executive Director of HDAN, said that the economy was not encouraging for both the private sector and the government sector to deliver affordable housing, thus the need for reforms.

“We should have policies that if you build social housing, low-cost housing, you will be excluded from paying certain taxes.

“This is a way to motivate people to build houses that are affordable. The only way to deliver affordable housing is that government must come with incentives.

“Government itself must also deliver houses, get free land, get money through budgetary allocation and provide houses for the people.

“Today we are giving the affordable hall of fame awards to people who have made significant contributions in delivering affordable housing,” he said.

Adebayo said that the organisation had been using the hall of fame platform as a watchdog on the government and to create awareness on the benefits of building houses.

He said that this had translated into getting more states to go into housing development, adding that states like Sokoto and Nasarawa had keyed into it and are delivering houses in their states.

The Minister of Housing and Urban Development, Ahmed Dangiwa, said that the Federal Government has not rested on its oars in delivering affordable housing to Nigerians.

According to Dangiwa, under the Renewed Hope Cities and Estates Programme, the government currently has 14 active construction sites nationwide, for a total of 10,112 housing units.

“We are currently constructing 12 Renewed Hope Estates, comprising 250 housing units each, across 12 states, with two states from each geo-political zone.

“The cities are larger urban projects being developed in the FCT we have 3,112 units, Kano 2,000 units, and Lagos 2,000 units, with additional cities planned in Enugu, Borno, Rivers, and Nasarawa,”he said.

Also speaking, Mr Shehu Osidi, Managing Director and Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), commended HDAN for its unwavering commitment to promoting sustainable housing development.

Osidi said that HDAN was also driving impactful conversations around affordable housing.

“This event is a laudable initiative by HDAN.

“It is always a thing of joy for us at FMBN to identify with events like this where recognition is being given to worthy individuals and corporate citizens of our great nation.

“By recognising achievements and contributions to the development of the housing sector, the African Housing Awards inspires us all to do more,” he said.

Osidi said that FMBN would continue to expand access to affordable housing through strategic partnerships, innovative financing models, and stakeholder engagement.

He said that FMBN had provided N100 billion off-takers’ guarantee to facilitate the development of the Renewed Hope Cities and Estates.

According to him, the bank is also introducing  new products like rent assistance, non-interest mortgage and Diaspora housing fund mortgage..

The Chairman of the Occasion, Musa Sada, Former Minister of Minister of Mines and Solid Minerals, said that the housing sector in Nigeria had gone through a lot of developments.

“The awards today are for recognition of excellence and a means of encouragement for players in the sector to be able to make much more effort in seeing that the sector gets to its rightful place.

“Reminding us that housing to some of us is a human right. And as such is something that needs to have all the attention that it deserves.

“If we want to solve the housing problem in the country, social housing is key.

“About 80 per cent  of the Nigerian population rely on social housing, and  we must keep generating ideas to help us  produce a vibrant housing sector in our country,” he said. NAN