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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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Niger State Governor, Umaru Mohammed Bago, has officially confirmed that his current deputy, Yakubu Garba, will remain his running mate for the 2027 gubernatorial election. During an announcement at the Government House in Minna, Governor Bago noted that Garba’s name will be submitted to the Independent National Electoral Commission (INEC) in accordance with constitutional requirements. Addressing recent speculation, the Governor reaffirmed his partnership with Garba, stating, “I have called you to come and witness that my Deputy, Yakubu Garba, is still my running mate in 2027.”....KINDLY READ THE FULL STORY HERE▶
In separate developments, police in Niger State have arrested 38-year-old Hamisu Abdullahi for allegedly attempting to disrupt a public event. Abdullahi was taken into custody during the Governor’s visit to the Emir of Suleja after he reportedly shouted slogans regarding utility shortages. According to police spokesperson SP Wasiu Abiodun, the suspect has been transferred to the State Criminal Investigation Department in Minna on charges related to suspected thuggery and the obstruction of government activities.
Option 2: Concise Summary
Governor Umaru Mohammed Bago of Niger State has reaffirmed his commitment to his deputy, Yakubu Garba, naming him as his running mate for the 2027 election. The Governor stated that this decision fulfills legal requirements for the upcoming INEC nomination process.
Meanwhile, authorities have apprehended Hamisu Abdullahi, 38, following a disturbance during the Governor’s visit to the Emir of Suleja. Abdullahi, who reportedly shouted “no water, no light,” is currently under investigation by the State Criminal Investigation Department for suspected thuggery and attempting to disrupt official government proceedings.
Former Minister of Aviation, Hadi Sirika, has rejected claims that the late former President Muhammadu Buhari’s policies caused the current economic hardship in Nigeria. During an interview on Arise Television, Sirika asserted that Nigeria’s economy and education sector were in a “good state” and “flourishing” under Buhari’s leadership.....KINDLY READ THE FULL STORY HERE▶
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Sirika maintained that Buhari “did extremely well” in managing the economy.
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He argued that it would be unfair to draw comparisons between the state of the country under Buhari and the current administration led by President Bola Tinubu.
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While expressing his belief that the nation was better off previously, Sirika stated he would not be drawn into debating the causes of current hardships.
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He declined to criticize the policies or decisions of either the past or current presidents, noting that he is not in a position to fully com
FIFA President Gianni Infantino has revealed that the governing body is exploring the possibility of expanding the 2030 World Cup to include 64 teams. This potential shift follows the recent expansion from 32 to 48 teams for the 2026 tournament, which increased the match count to 104. Infantino advocates for this change to provide smaller footballing nations with greater opportunities to qualify, arguing that increased representation motivates countries to invest in their local leagues, academies, and national programs. While the proposal remains subject to approval by FIFA’s decision-making bodies, it aims to narrow the competitive gap between traditional powerhouses and emerging teams. The 2030 event, which commemorates the tournament’s centenary, is already unique for being hosted by six countries across three continents: Uruguay, Argentina, Paraguay, Morocco, Portugal, and Spain.....KINDLY READ THE FULL STORY HERE▶
FIFA is considering a massive shake-up for the 2030 World Cup, with President Gianni Infantino hinting at a potential expansion to 64 teams. Building on the success of the 48-team format introduced for 2026, Infantino believes that giving more countries a seat at the table is essential for the global development of the sport. He noted that under the current expanded format, teams from all continents have proven their competitiveness, suggesting that the divide between established nations and newcomers is shrinking. If approved, this 64-team structure would be implemented for a historic tournament already set to span three continents and six host nations to celebrate the competition’s 100th anniversary. FIFA is currently evaluating the logistical and financial implications of such an expansion before making a final decision.
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