News
ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions
ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions
By: Michael Mike
ActionAid Nigeria acknowledges the Central Bank of Nigeria’s (CBN) recent decision to raise the Monetary Policy Rate (MPR) to 26.25%, as announced by Governor Yemi Cardoso during the 295th Monetary Policy Committee (MPC) meeting. This marks the third consecutive increase aimed at curbing the surging inflation, which currently stands at 33.69%.
Speaking at its head office in Abuja, ActionAid Nigeria’s Country Director, Andrew Mamedu, noted that, “While the decision to adjust the MPR demonstrates a proactive approach to achieving price and economic stability, it is important to acknowledge its broader implications. We recognise that although inflation is still rising, the month-on-month rate increase is reducing. In the other hand, the increased MPR will inevitably lead to higher borrowing costs for businesses and individuals. Small and Medium-sized Enterprises (SMEs), which are the backbone of our economy, will face heightened challenges in accessing affordable credit. This could stifle innovation, growth, and job creation within this vital sector.
For vulnerable populations, the rising cost of living and food prices, exacerbated by higher interest rates, will further strain their already limited financial resources. This becomes a case of double jeopardy of high inflation and high interest rates. As the cost of borrowing increases, so does the difficulty in securing loans for essential needs, pushing many deeper into poverty.”
To mitigate the impacts of the increase in interest rates and inflation, ActionAid Nigeria proposes that the Federal and State Governments must immediately step-up social protection programs to support the most vulnerable populations. This includes expanding food assistance initiatives, providing targeted financial aid to low-income families, and offering more support to other social sectors, including education, health, and housing.
Andrew Mamedu also reiterated that “It is only fair for the CBN to increase special credit facilities with lower interest rates for SMEs at this crucial time to ensure they can continue to operate and grow. Providing technical and financial support to these businesses will help them sustain their contributions to the economy. Additionally, not many people understand the implications of this hike in interest rates. It is very important for the CBN to collaborate with the National Orientation Agency (NOA) to engage with the public and stakeholders to explain the rationale behind these economic policies. This will foster understanding and patience and enhance transparent communication from the government to manage expectations and build trust and get the citizens to hold greedy businesses and individuals accountable from exploiting the system.
The country director concluded that the fiscal aspects of the economy need to complement the CBN’s efforts in managing monetary policy. This includes improving the ease of doing business, implementing progressive taxation, and ensuring effective budgeting and budget utilisation.
ActionAid Nigeria remains committed to working with the government, private sector, and civil society to address these challenges and promote a more inclusive and resilient economy.
ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions
News
NTAC DG Celebrates Mallam Nuhu Ribadu at 65, Commends His National Service Credentials
NTAC DG Celebrates Mallam Nuhu Ribadu at 65, Commends His National Service Credentials
By: Michael Mike
Director General of the Nigerian Technical Aid Corps (NTAC), Rt.Hon. Yusuf Buba Yakub has commended the National Security Adviser, Mallam Nuhu Ribadu for his trailblazing leadership as the pioneer Chairman of the Economic and Financial Crimes Commission (EFCC) and for his current role as the National Security Adviser.
The NTAC boss , who made the commendations on Saturday in Abuja, while celebrating the foremost lawyer and public servant, who turned 65 on Friday, also lauded Ribadu for steering Nigeria through complex security challenges with courage and integrity, stating that this has set an enduring example for all public officers to emulate.
In a message he personally signed and made available the media in Abuja,Buba emphasized the great roles Mallam Ribadu has continued to play in the evolution of the Nigerian state.
He said: “I have the honour to refer to the above subject-matter and avail myself of the opportunity of this auspicious moment to celebrate you, Dear Leader and Brother, on the occasion of your birthday celebration this year.
“Yesterday again marked yet another milestone of wisdom, dedication, and service as you celebrated 65 years of life, many of which you have invested in the service of our nation and humanity at large.
“Without the risk of reciting the obvious, Sir,
your trailblazing leadership as the pioneer Chairman of the Economic and Financial Crimes Commission (EFCC), where you transformed the fight against corruption, and now as the National Security Adviser, steering Nigeria through complex security challenges with courage and integrity, has set an enduring example for all of us to emulate.
“Your legacy of principled reform, selfless service, and steadfast patriotism continues to inspire countless Nigerians, especially the young professionals and Volunteers we work with every day. May Allah (SWT) continue to strengthen you for greater wisdom and performance as you age in wealth and wellness.
“For myself, my dear family and on behalf of the Management and staff of the Nigerian Technical Aid Corps (NTAC), where with your kind support I have served as DG these past years, I extend heartfelt congratulations to you, Sir, on this remarkable milestone and solemn achievement.
“May Allah grant you good health, long life, and the special wisdom to keep guiding our nation toward peace, security, and prosperity.
“We pray that the years ahead bring you abundant joy, fulfillment, and the satisfaction of seeing the fruits of your tireless efforts in many more years of blessings.”
NTAC DG Celebrates Mallam Nuhu Ribadu at 65, Commends His National Service Credentials
Crime
Jihadist reportedly overrun gendarmerie camp in niger, kill 21 officers
Jihadist reportedly overrun gendarmerie camp in niger, kill 21 officers
By: Zagazola MAkama
Suspected jihadists on Friday attacked and seized control of the Gendarmerie Camp in Garbougna, Niger Republic, killing more than 21 gendarmes, according to security sources.
The attackers, believed to be affiliated with Sahel-based extremist groups, stormed the facility in large numbers, overwhelming security personnel during the early morning assault.

Sources told Zagazola Makama that the insurgents also carted away several vehicles, along with a significant quantity of arms and ammunition stored at the camp.
“The situation is dire. The Garbougna gendarmerie post was overrun, and dozens of weapons and vehicles were taken. The number of casualties is still being compiled, but more than 21 gendarmes are feared killed,” one security source said.

The attack underscores the escalating insecurity in parts of Niger, where jihadist groups linked to al-Qaida and the Islamic State continue to mount coordinated assaults on security formations and rural communities.
Niger’s military authorities have not yet issued an official statement regarding the incident as at the time of filing this report.
Zagazola recalls that the tri-border region spanning Niger, Mali and Burkina Faso has witnessed intensified jihadist activities in recent months, with security forces increasingly targeted in ambushes and camp raids.
Jihadist reportedly overrun gendarmerie camp in niger, kill 21 officers
News
Tuggar Appeals to Broadcaster to Promote Nigeria’s Information Sovereignty
Tuggar Appeals to Broadcaster to Promote Nigeria’s Information Sovereignty
By: Michael Mike
Minister of Foreign Affairs, Ambassador Yusuf Tuggar has emphasized the critical role of independent broadcasters in promoting the country’s information sovereignty, national cohesion, and digital security.
Represented by the Ministry of Foreign Affairs spokesperson, Kimiebi Ebienfa, at the Independent Broadcasters Association of Nigeria (IBAN) 2025 Annual General Meeting and Conference, on Thursday, Tuggar stressed that the broadcast sector is a key player in shaping Nigeria’s global narrative and ensuring internal stability.
The event’s theme, “Broadcasting for Information Sovereignty, National Cohesion and Digital Security,” according to the minister aligns with the nation’s foreign policy objectives.
He urged broadcasters to produce locally relevant content, counter disinformation, and bridge ethnic and cultural divides, adding that a united Nigeria commands greater international respect.
He also highlighted the need for robust digital security measures to protect against cyber threats and misinformation campaigns, warning that breaches in the sector could undermine national security.
He called for stronger collaboration between the government and media to safeguard Nigeria’s information ecosystem and project a positive global image.
The conference aimed to address the evolving challenges of broadcasting in a digital age.
Tuggar Appeals to Broadcaster to Promote Nigeria’s Information Sovereignty
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