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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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‘Kwankwaso Is More Experienced Than Peter Obi’ – Buhari’s Ex-Aide Declares.
Ahmad made the assertion in a post on his X handle, maintaining that Kwankwaso’s decision to accept the position of running mate should be seen as an act of political modesty rather than an indication that he is less qualified than Obi.....KINDLY READ THE FULL STORY HERE▶
According to the former presidential aide, the relationship between the two politicians should be viewed as one of equals rather than that of a superior and a subordinate.
“To be entirely candid, the political dynamic between Rabiu Kwankwaso and Peter Obi ought to be characterised as one of collegiality between peers, rather than a hierarchy of principal and subordinate,” he wrote.
He added, “The choice to assume a deputy role beneath Obi ought to be interpreted as a testament to political modesty.”
Making a case for Kwankwaso’s political experience, Ahmad recalled that the former Kano State governor served as Deputy Speaker of the House of Representatives before Obi became a prominent figure in national politics.
He also noted that Kwankwaso governed Kano State, which he described as Nigeria’s most populous and politically influential state, for two terms and served as a federal minister.
“If we are assessing political experience, Sen. Kwankwaso probably has a longer and more impressive political background than Peter Obi,” Ahmad stated.
In contrast, the former presidential aide argued that Obi’s major public office experience was limited to his tenure as governor of Anambra State.
“Unlike other candidates, Peter Obi was just a former governor of Anambra State,” he wrote.
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‘I Have Stopped Impregnating Women’ – 2Baba Makes Shocking Revelation.
Nigerian music star Innocent Idibia, popularly known as 2Baba, has declared that he no longer impregnates women.....KINDLY READ THE FULL STORY HERE▶
The singer made the statement on Saturday during a live performance at Rehab Lounge in Calgary, Canada.
While performing his hit song True Love, 2Baba paused to interact with the audience and playfully asked the women present to identify where his true love was.
He jokingly wondered whether she was standing at the back of the venue or somewhere in front of him before making a remark about his experiences with women.
The award-winning musician told the audience that he had stopped getting women pregnant, adding that he had been making the same confession wherever he performed recently.
He said, “For the purpose of this show, I will pretend like I’ve never seen anything before. Where’s my true love? Is she back there? Is she right here? Is she somewhere here? Where’s my true love? You people shouldn’t put out me for trouble.
“As I said, some ladies they fear to shout. See, everywhere I go these days, I make this confession. As I say, some ladies they fear to shout. I say, I don’t fear to shout. Because I don’t stop to dey give woman belle. Ask anyone, they’ll tell you, I don’t do such thing things again.”
The singer’s comment comes amid public interest in his personal life and relationships.
2Baba was previously married to Nollywood actress Annie Macaulay-Idibia. The couple announced their separation in January 2025 after having two children together.
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NPFL Cracks Down! Abia Warriors, Katsina United, Warri Wolves Hit With Sanctions.
Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.....KINDLY READ THE FULL STORY HERE▶
Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.
The Umuahia-based club was also found guilty of an attempt by one of its officials to disrupt the live broadcast of the match by harassing a crew member of the league’s broadcast partner.
As part of the disciplinary measures, Abia Warriors’ multimedia officer, Chidera Favour Igwe, has been suspended from all NPFL match activities for five matches.
Katsina United, meanwhile, were fined ₦2 million for failing to provide adequate and effective security during their home fixture against Plateau United.
The club was also sanctioned for allowing supporters to encroach onto the field of play during the encounter.
Warri Wolves Receive Heaviest Punishment
Warri Wolves have been handed the most severe sanctions following the unruly behaviour of their supporters during Sunday’s Matchday 10 clash against Kano Pillars in Ozoro.
The Seasiders were fined ₦4.2 million and docked three points and three goals from their accumulated tally. The club was also ordered to play its next three home matches behind closed doors.
According to the NPFL, Warri Wolves failed to provide adequate security at the stadium, resulting in an assault on match officials after the final whistle.
The league further disclosed that the second assistant referee sustained a nose injury and was left bleeding during the incident.
The NPFL stated that all three clubs have 48 hours from the date of notification to appeal their respective sanctions in accordance with the league’s disciplinary procedures.
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