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Experts Slam Government’s Response To Inflation, Warn Of Deteriorating Public Welfare
A challenging festive season awaits Nigerians as both headline and food inflation rates have worsened under President Bola Ahmed Tinubu’s administration.....KINDLY READ THE FULL STORY HERE▶
Economists and financial analysts argue that the government’s efforts to curb inflation have been insufficient, which is why inflation continues to climb, reaching 34.60% in November.
Experts believe the government’s announcement of free train rides during the holiday season will have little impact in alleviating the situation.
In exclusive interviews with DAILY POST on Monday, Prof. Segun Ajibola, former President and Chairman of the Chartered Institute of Bankers, and Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, voiced their concerns about the government’s handling of inflation.
The National Bureau of Statistics reported on Monday that inflation rose by 0.72% from the previous month, reaching 34.60% in November. Simultaneously, food inflation surged to 39.93%, up from 39.19% the previous month.
The figures also revealed that headline and food inflation had risen by 6.4% and 7.09%, respectively, compared to the same period last year.
Rising energy and transportation costs have significantly contributed to the inflation spike.
The latest inflation data coincided with the government’s announcement of two weeks of free train services to help ease transportation costs during the festive period. Information Minister Mohammed Idris shared the news after Monday’s Federal Executive Council meeting.
However, Prof. Ajibola criticized the free train service initiative, saying it and the Central Bank of Nigeria’s monetary interventions have not effectively addressed inflation.
Ajibola highlighted that the root cause of Nigeria’s inflationary woes lies in fiscal measures rather than the current monetary policies. He stressed that solutions should focus on reducing production costs, improving the ease of doing business, and tackling Nigeria’s economic challenges more comprehensively.
“The government’s approach has been flawed. The current monetary policy won’t curb inflation,” Ajibola said. He also pointed out that Nigerians’ purchasing power would continue to suffer as a result of rising inflation during the festive period.
He also dismissed the impact of the free train service, stating that less than 1% of Nigerians would benefit from it.
Muda Yusuf shared similar concerns, emphasizing that fiscal measures, such as transportation subsidies, tax waivers, and public expenditure cuts, were necessary to reduce inflation.
“The persistent inflationary pressures are hurting the welfare of the average citizen,” Yusuf said, adding that monetary measures have proven ineffective. “We need a more coordinated effort between fiscal and monetary policies to address inflation.”
He welcomed the free train initiative but called for more sustainable, long-term subsidies across various sectors, including education, health, and agriculture.
Yusuf stressed the importance of providing lasting relief to Nigerians, highlighting the mounting pressures they face in multiple areas of life, from transportation costs to healthcare expenses.
The Central Bank of Nigeria, under Olayemi Cardoso, has consistently raised interest rates in an effort to tackle inflation. The most recent hike was in November when the Monetary Policy Committee increased the rate to 27.50% from 27.25%.
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Kaduna State Governor, Uba Sani, says the state has mapped out 22,435 hectares of degraded land for restoration under the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project using modern geospatial mapping technology.....KINDLY READ THE FULL STORY HERE▶
He said the initiative is part of efforts to strengthen climate resilience, tackle environmental degradation, and promote sustainable land use in the state.
Speaking at the ACReSAL mid-term review meeting in Kaduna through the Commissioner for Environment and Natural Resources, Abubakar Buba, the governor explained that the use of geospatial tools has made it possible to accurately identify affected areas for targeted intervention.
He added that the project is not only focused on land recovery but also on boosting agricultural output and improving livelihoods in affected communities.
Sani also noted that the state is supporting the programme with empowerment initiatives, including training over 500 women, youths, and school feeding vendors in biomass briquette production.
According to him, the effort is already helping to reduce dependence on firewood while creating alternative sources of income for beneficiaries.
President Tinubu has given full backing for the implementation of the ₦68.32 trillion 2026 budget after signing the Appropriation Bill passed by the National Assembly into law.....KINDLY READ THE FULL STORY HERE▶
He also approved an amendment extending the lifespan of the 2025 budget from March 31 to June 30, 2026, to ensure completion of ongoing capital projects nationwide.
Under the 2026 fiscal plan, ₦4.799 trillion is set aside for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent spending, while ₦32.2 trillion goes to capital projects—about half of the total budget.
The focus, according to the administration, is on infrastructure development, security, and growth-driven investments aimed at improving living standards.
Speaking on the development, presidential aide Bayo Onanuga said the extension of the 2025 budget will help ensure full use of allocated funds, especially for major ongoing projects.
Tinubu directed all ministries, departments, and agencies to ensure transparency, discipline, and value-for-money in implementing the budget, while praising the National Assembly for its swift passage of the bill.
He also reaffirmed his administration’s commitment to economic reforms, revenue growth, job creation, and social welfare improvements.
The Peoples Democratic Party (PDP) in Kwara State has described moves to prosecute former Senate President Bukola Saraki and former Governor Abdulfatah Ahmed over alleged culpable homicide as an attempt to reopen the 2018 Offa robbery tragedy for political purposes.....KINDLY READ THE FULL STORY HERE▶
In a statement on Friday, the party’s spokesperson, Olusegun Adewara, said the development is a disturbing and dangerous politicisation of a case they claim has already been addressed through judicial processes.
He warned against dragging the state into fresh tension, accusing the state government of attempting to revive old allegations for political advantage.
Adewara said the PDP would not remain silent while what he called “political narratives” are used to influence public perception around a tragic incident that claimed multiple lives in Offa in 2018.
He also urged residents, especially affected families, not to allow their pain to be used for political gains, insisting it is unjust to associate Saraki with the crime.
The party further alleged that the move is aimed at distracting attention from governance challenges in the state.
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