News

Nigeria’s Inflation Rate Hits 21.09%

Published

4 years ago

16th November 2022

Usman Oladuntoye

Nigeria

Nigeria’s inflation rate rose to a 17-year high of 21.09% in October 2022, the National Bureau of Statistics said.

This is a 0.32% point increase from 20.77% recorded in September.

The NBS made this known in its Consumer Price Index (CPI) report for October 2022 released on Tuesday, Nov. 15.

The CPI measures the rate of change in prices of goods and services.

According to the NBS CPI report, food inflation also sharply rose to 23.72% in the Month under review from 23.34% in the prior Month, while the core inflation rate jumped to 17.76% from 17.6% recorded in September 2022.

The report reads: “In October 2022, on a year–on–year basis, the headline inflation rate was 21.09%. This was 5.09% points higher compared to the rate recorded in October 2021, which was 15.99%. This shows that the general price level for the headline inflation rate increased in October 2022 compared to the same Month in the preceding year (i.e., October 2021) by 5.09%.

“On a month-on-month basis, the Headline inflation rate for October 2022 was 1.24%, this was 0.11% lower than the rate recorded in September 2022 (1.36%). This means that in October 2022 the general price level for the headline inflation rate (Month–on–month basis) declined by 0.11%.

“The percentage change in the average CPI for the twelve months ending October 2022 over the average for the previous twelve months period was 17.86%, showing a 0.91% increase compared to the 16.96% recorded in October 2021.”

According to NBS, the likely factors for the increase on a year-on-year basis are: Disruption in the supply of food products, increase in the cost of importation due to the persistent currency depreciation and a general rise in the price of production e.g increase in energy cost.

NBS stated that in October 2022, the inflation rate on all items on a year-on-year basis was highest in Kogi (25.15%), Bauchi (23.45%), Ondo (23.45%), while Plateau (19.02%), Borno (19.31%) and Nasarawa (19.39%) scored the slowest rise in headline Year-on-Year inflation.

On a month-on-month basis, however, October 2022 recorded the highest increases in Abuja (3.18%), Kebbi (2.80%), Sokoto (2.57%), while Kwara (-0.14%), Kogi (0.06%) and Oyo (0.30%) recorded the slowest rise on month-on-month inflation.

The food inflation rate in October 2022 was 23.72% on a year-on-year basis; which was 5.39% higher than the rate recorded in October 2021 (18.34%).

NBS attributed the rise in food inflation to an increase in the price of cereals and bread, potatoes, yams, and other food items.

In October, month-on-Month basis food inflation stood at 1.23%, a 0.21% decline compared to the rate recorded in September 2022 (1.43%). This decline was attributed to decreased prices of selected food such as beans, tubers, palm oil and vegetables.

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News

Chadreek Renews Recording Contract with UK-Based Label SauceBoi Music

Published

3 hours ago

27th September 2026

Usman Oladuntoye

Nigerian Afrobeats artist Chadreek (born Salau Qudus Emiola) has officially renewed his recording contract with SauceBoi Music, the UK-based label that has played a pivotal role in his career development.

The renewed agreement reinforces the longstanding partnership between the artist and the label. It positions Chadreek for the next phase of his career with enhanced support across music production, distribution, marketing, and international expansion.

Known for his smooth vocal delivery and consistent output, Chadreek has steadily cultivated a dedicated following through standout records including Ori Mi (featuring Seyi Vibez), Better Dayz, Awure, and his earlier project No Bad Vibe. The renewed deal is expected to accelerate his momentum as he prepares new music and broadens his presence across Africa and global markets.

A source close to the camp confirmed that both parties are fully aligned on a clear vision for the artist’s next chapter, with a strong emphasis on high-quality releases and strategic growth.

This renewal marks another significant milestone in Chadreek’s journey as he continues to establish his place within the Afrobeats landscape.

About Chadreek
Chadreek is a Nigerian singer and songwriter signed to SauceBoi Music. He is recognised for his distinctive voice and a growing catalogue of Afrobeats records that blend melody, emotion, and street energy.

About SauceBoi Music
SauceBoi Music is a UK-based record label committed to developing and promoting talent across the Afrobeats and broader African music scenes.

Audio

YTJ Announces New Single “JO,”

Published

2 weeks ago

12th September 2026

Usman Oladuntoye

Rising Afro-fusion artist builds on the momentum of “Closer” with an energetic new release made for dance floors worldwide

Recoup Records announces the forthcoming release of “JO,” the new single from rising Afro-fusion artist YTJ, arriving on all major digital streaming platforms September 10, 2026.

The release follows the growing international success of YTJ’s previous single, “Closer,” which has generated more than 4 million combined YouTube views and surpassed 3 million audio streams within two months of release. The record has also received airplay across more than 70 radio stations and 30 television channels worldwide, while reaching No. 63 on YouTube Music in Nairobi, Kenya.

With “JO,” YTJ enters the next phase of his sound and creative direction.

Driven by infectious rhythm, vibrant production and an unmistakable celebratory energy, “JO” is an Afro-fusion record built for movement. The single pairs YTJ’s melodic approach with a polished, high-energy production designed to connect across clubs, parties, festivals and playlists globally.

The visual world surrounding the release reflects that same energy. Built around a striking red-lit aesthetic, the “JO” campaign presents a confident and elevated side of YTJ as he continues to expand his presence beyond his home market and reach new audiences internationally.

“My intention with ‘Closer’ was simply to make something that would connect with people, and the response went beyond what I imagined,” says YTJ. “With ‘JO,’ I wanted to take that energy somewhere new. This record is a celebration — and we’re just getting started.”»

“JO” arrives at a pivotal moment for YTJ. Following the momentum established by “Closer,” the new single signals an artist increasingly focused on creating music that bridges cultures while remaining rooted in the rhythm, melody and energy of contemporary African music.

For Recoup Records, the release represents another step in the label’s commitment to developing YTJ’s international profile and introducing his music to a broader global audience.

“JO” by YTJ is available across all major digital streaming platforms HERE

ABOUT YTJ

YTJ is an emerging Afro-fusion artist whose music blends contemporary African rhythms, melody and global influences. With a growing international audience and millions of streams and views across digital platforms, YTJ is building a sound and identity designed to travel beyond borders.

Following the international response to “Closer,” YTJ continues his next chapter with “JO,” expanding his creative vision while establishing himself as an emerging voice in the new generation of African music.

ABOUT RECOUP RECORDS

Recoup Records is an independent music company focused on artist development, music distribution and building globally competitive African talent. Through strategic releases, media partnerships and international promotion, the label works to connect its artists and music with audiences around the world.

Entertainment Gists

Josh2Funny’s Album Has Fans Talking — But Should He Stick To Music Or Skits?

Published

2 weeks ago

10th September 2026

manlikeakoh

Josh2Funny’s Album Has Fans Talking — But Should He Stick To Music Or Skits? 😂🎶

Nigerian comedian and content creator Josh2Funny has taken his comedy game into music, and Nigerians are definitely having something to say about it.

The comedian released his 15-track album, “On Behalf of Josh,” on July 10, 2026, but instead of fading away after release, the project has continued to generate conversations on X.

And the big question now is:

Should Josh2Funny continue with music or go back to skits? 😂

Fans have been divided. While some listeners openly criticized the album and told him to return to comedy, others found songs they genuinely enjoyed.

One X user joked:

“Josh2Funny stopped doing skits and started music, Everybody wan chop this music money 😂”

Another simply said:

“This Josh2Funny Album no enter make he just go back skit abeg 😂”

But then came “Lembe.” 🔥

The track caught fire on X and eventually became a trending topic in Nigeria. The #LembeChallenge also gained momentum as creators began jumping on the song.

Josh2Funny later announced ₦1 million for winners of the challenge, giving the song another major push.

And it didn’t stop there.

‘INTERNATIONAL’ FT. ICE PRINCE ALSO TRENDED

On another day, “International” featuring Ice Prince generated its own buzz on X.

One fan even called it their favourite song from the album, while praising the collaboration. The post itself pulled thousands of views, showing that people weren’t only talking about Lembe.

From album criticism to trending songs and challenges, “On Behalf of Josh” has kept Josh2Funny’s name in the conversation.

Whether you love the album or think he should return to skits, one thing is clear:

Josh2Funny has succeeded in getting Nigerians talking. 😂🔥