The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso said Nigeria’s current Consumer Price Index is reflective of the reality of consumption patterns.

Cardoso made this known on Thursday during a press briefing at the end of the 299th Monetary Policy Meeting in Abuja.

His comments came as Nigeria’s inflation rate dropped to 24.48 percent after the CPI was rebased.

Reacting to the development, Cardoso insisted that the apex bank will continue to work with data to drive its decisions.

He noted that the recent CPI rebase is good for the country’s economy.

“As far as the Central Bank is concerned, we are data-driven. That will continue. Our decision matrices will be focused accordingly.

“Of course, what we have is a CPI which is more reflective of the reality of consumption patterns. And that is a good thing.

“The previous one took account of black and white television, for example, we all know it is no longer relevant,” he stated.

Lafarge Africa Plc, a leading innovative and sustainable cement producer and building solutions provider, has successfully concluded a capacity building training for Geoscientist & Mining Engineers at its Training Center in Ewekoro Ogun State. The three-day program, held in collaboration with the Ogun State Ministry of Industry, Trade, and Investment, provided participants with in-depth knowledge, technical exposure, and hands-on learning.

The training brought together 25 participants from various sectors and featured expert-led sessions on mining best practices, safety protocols, raw materials management, community engagement, and sustainability initiatives. Participants were also taken on a tour of the Lafarge Ewekoro Quarry, gaining first-hand experience of mining operations and environmental conservation practices.

In his opening speech, Engr. Philip Anaobi, Plant Manager, welcomed participants and emphasized Lafarge Africa’s dedication to operational excellence and capacity development in Nigeria’s mining sector. He reiterated the company’s vision of equipping industry professionals with the necessary skills to drive sustainable growth.

One of the guest trainers, Prof. Jimoh Ajadi of the Department of Geology, Kwara State University, Malete Nigeria, who facilitated a session on Mining Global Best Practices, provided insights into internationally recognized standards in mining operations, including safety regulations, environmental sustainability, and technological advancements in the sector. He highlighted the importance of continuous learning and adaptation in the evolving landscape of mining.

In his lecture on Lafarge’s Commitment to Sustainability, Gabriel Pollyn, Head of Sustainability and Sponosorships, highlighted the company’s focus on climate and energy, circular economy, nature conservation, and people-centric initiatives. He emphasized the importance of sustainable resource extraction and Lafarge’s pioneering efforts in developing eco-friendly cement solutions, waste recycling, and carbon footprint reduction.

Speaking on community engagement and stakeholder relations, the Community Relations Manager, Engr. Oluyomi Owolabi, detailed the company’s Community Relations Committee (CRC) model, which fosters inclusive partnerships with 14 host communities. He noted that Lafarge’s investment in education, healthcare, and infrastructure has strengthened its long-term relationship with local stakeholders.

While appreciating Lafarge Africa Plc and the Ogun State Ministry of Industry, Trade, and Investment, one of the participants, Emmanuel Okechukwu, said the training is full of hands-on learning experience and was grateful for the opportunity to partake in the training. He noted that the insights gained would significantly contribute to improving operations and fostering sustainability in mining and geoscience practices. He charged all the delegates to ensure that the insights gained are used to drive operational excellence in their respective organizations.

Over the years, Lafarge Africa has championed knowledge-sharing, innovation, and sustainable practices within Nigeria’s mining and construction industry across all its locations pan Nigeria. The programme’s impact is expected to enhance industry standards and contribute to more responsible and efficient mining operations across the country.

Lafarge Africa Plc is renowned for the production of a wide range of cement solutions designed to meet all building and construction needs from small projects like individual home buildings to major construction projects.

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About Lafarge Africa Plc

Lafarge Africa Plc, a leading Nigerian building solutions company, is a member of Holcim Limited, a global leader in innovative and sustainable building solutions. Listed on the Nigerian Exchange Group, Lafarge Africa is actively participating in the urbanization and economic growth of Nigeria, the largest economy in Africa.

Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa.

Lafarge Africa leverages on its innovative expertise to provide value-added products and services solutions in the building and construction industry in Nigeria. Lafarge Africa Plc is renowned for the production of a wide range of cement solutions designed to meet all building and construction needs from small projects like individual home buildings to major construction projects. Additional information is available on the web site at www.lafarge.com.ng

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

There is no end in sight for the tit-for-tat between key players in Nigeria’s oil and gas sector, the Nigerian National Petroleum Company Limited, NNPCL, and Dangote Refinery, owned by Africa’s richest man, Aliko Dangote.

This comes as a report by the Nigeria Voice alleged that Dangote is behind the campaign of calumny against NNPCL and its Group Chief Executive Officer, Mele Kyari.

According to the report, in a latest move to smear NNPCL, the Dangote Media team sponsored a story titled, ‘NNPCL imports over 200 million litres of petrol in February
despite the refinery overhaul’.

Although NNPCL spokesperson Olufemi Soneye has not officially reacted to the claim, petroleum marketers familiar with the development told DAILY POST available data does not support the claim that NNPCL imports over 200 million litres of petrol in a few days after mid-February 2025.

Meanwhile, DAILY POST reached out to Dangote Industries Limited spokesperson Anthony Chijiena for comments on the claim. But he had yet to respond to the enquiry as of the time of filing this report.

This comes amid a viral video by a reviewer that claimed he purchased a litre of petrol from an MRS Filling Station at Alapere, Lagos, at N925, while the same quantity of fuel from NNPCL at Ojodu Berger was priced at N945.

According to the reviewer, when the two fuels were tested in separate power generators, the one running on NNPCL fuel supposedly stopped after just 17 minutes, while the generator running on Dangote petrol allegedly ran for 33 minutes.

However, NNPCL spokesperson Soneye, in a statement at the weekend, described the claim as baseless and unfounded.

The rivalry between NNPCL and Dangote Refinery intensified after the former announced the commencement of Port Harcourt and Warri refineries last year.

Similarly, there is an ongoing price war between Dangote and NNPCL.

MRS filling stations in partnership with Dangote Refinery sell petrol at N945 per litre, while NNPCL petrol goes for N965.

DAILYPOST