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
Calm returns to Pulka after Wednesday night attack on the town
Calm returns to Pulka after Wednesday night attack on the town
By: Bodunrin Kayode
Residents of Pulka who ran to the bush yesterday night have returned home even as the troops of the Nigerian military repelled attempts by insurgents from sacking the town.
The insurgents too residents hinted did not leave without injecting their trade marks on the base of the military in the community leaving about three soldiers dead.
A source who wanted anonymity said that she had to run out of her house with her neighbors at about ten pm wednesday evening into the thick savannah to hide so that they are not attacked, killed or abducted when the criminals entered the community.
“We were all relaxing in our homes when the sounds of gun fire rented the air. Not knowing what to do we locked our doors and waited indoors while praying that the worse should not happen to us residents.
” Towards 10.30 pm the artillery blasts became intensified. Then suddenly, we heard the voices of soldiers telling us to run away into the bush showing us the safe direction to go into the dark while they stayed back to face the criminals.
” We stayed in the bush untill around 1 am when word reached one of our neighbors that the coast was clear to return to base. So by two am some of us were back into our residences trying to survive as usual.
” Nobody could sleep in the bush regardless of our tiredness which we were going through. We came back only to hear that the base of our military protectors was sacked and burnt down leaving three soldiers dead in as at the wee hours of the night.
” Very sad indeed. I feel for them because they are going to start a fresh. Sadly, this has been the routine which we have been following since a couple of years ago, I started working for my agency in this town.” She lamented.
Pulka which is about 109 km is at the foot of the Mandara mountains which is the hot bed of Boko Haram in Borno State.
Calm returns to Pulka after Wednesday night attack on the town
News
Zulum Rolls Out 20 Electric Buses to Cushion Petrol Price Hike
Zulum Rolls Out 20 Electric Buses to Cushion Petrol Price Hike
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has directed the immediate deployment of 20 luxury electric buses for public use as part of measures to cushion the impact of the recent petrol price hike on residents.
The buses, which were inaugurated by President Bola Ahmed Tinubu on 20th December, 2025, alongside 3,000 electric bicycles, 500 electric tricycles, and 100 electric vehicles aimed at improving transportation services across the state.

The rollout of the buses, which commenced on Friday, 3rd April, features a fleet of 17 buses with 49 seating capacity, two 37-seaters, and one 28-seater. They are currently being deployed across major routes within Maiduguri metropolis and its environs to ease the burden of rising transport costs on commuters.
The Fully air-conditioned and energy-efficient vehicles can cover over 400 kilometres on a single charge. This initiative complements the existing fleet of buses and salon cars earlier procured by the Zulum administration to enhance urban mobility.
To ensure seamless operations, the governor has also established the largest electric vehicle charging terminal in the country, with the capacity to charge up to 50 vehicles at a time.

To further protect residents from the ripple effects of the global energy crisis, Governor Zulum directed Borno Express Transport Service to maintain a subsidised fare of N50 per drop.
The intervention has already begun to yield positive results, with noticeable reductions in congestion and improved access to affordable transportation for students, civil servants, traders, and other residents.
Commuters have since commended the initiative, describing it as timely and impactful.
“This transport initiative is indeed commendable. We are not feeling the impact of the rising transportation costs, as fares remain at N50 per drop. We thank Governor Zulum for the gesture”.
The initiative forms part of Governor Zulum’s effort to promote green energy, modernise transportation system and provide relief to the vulnerable.
Zulum Rolls Out 20 Electric Buses to Cushion Petrol Price Hike
News
Youth Exclusion Could Derail Development Goals, UN Issues Urgent Warning
Youth Exclusion Could Derail Development Goals, UN Issues Urgent Warning
By: Michael Mike
A senior United Nations official has issued a strong warning that governments and institutions risk deepening instability and policy failure if they continue to sideline young people, insisting that meaningful youth inclusion is now a critical condition for peace, stability, and sustainable development.
Speaking in Abuja at an interactive session with youth, the United Nations Assistant Secretary General for Youth Affairs and Head of UN Youth Affairs, who is currently on an official visit to Nigeria, Mr. Felipe Paullier, said global institutions are failing to evolve at the pace required to match today’s rapidly changing realities, particularly the demographic shift driven by an unprecedented youth population.
The event, themed “Open-Door Youth Engagement,” convened youth-led organizations, young women’s groups, youth peacebuilders, innovators, students, young professionals, persons with disabilities, and underserved youth communities for an interactive dialogue with representatives of the Government and the United Nations.
According to Paullier, young people now represent the largest, most educated, and most interconnected generation in history, especially in developing countries like Nigeria. However, this demographic advantage is being undermined by persistent gaps in access to quality education and limited opportunities for meaningful participation in governance.
He noted that: “Engaging young people in policy is not just an option—it is a condition if we want to achieve peace, stability, and effective solutions.”
He said the UN acknowledged a growing disconnect between policy formulation and real-world impact, describing the process of closing this gap as complex but urgent.
He admitted that while global frameworks exist, including the United Nations Sustainable Development Goals (SDGs) and youth-focused strategies, implementation at the national level remains inconsistent.
LHe emphasized that governments must move beyond rhetoric and adopt clear, actionable commitments that integrate youth voices into decision-making processes.
He said central to this effort is the UN’s broader development roadmap, which includes commitments to embed youth participation not only at global levels but also within country-level governance and policy execution.
Addressing concerns over the sustainability of policies, he warned that many initiatives fail because they are not designed to endure or adapt over time. The solution, the official argued, lies in institutionalizing youth engagement rather than treating it as a temporary or symbolic exercise.
He noted that nearly half of the world’s population under 30, and significantly higher percentages across Africa, the stakes are even higher for countries on African continent.
He said: “Youth engagement should not be seen as a project—it must be embedded at the heart of governance, financing, and development planning.”
The UN also called for increased investment in youth-driven innovation, noting that young Nigerians are already transforming sectors such as agriculture, technology, and the creative economy through ingenuity and entrepreneurship.
Youth Exclusion Could Derail Development Goals, UN Issues Urgent Warning
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