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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
Let the Good Define Nigeria, Not the Worst — Buni Urges Reset in National Tone
Let the Good Define Nigeria, Not the Worst — Buni Urges Reset in National Tone
—-Warns against toxic politics, calls for reconciliation, media responsibility, and democratic decorum
By: Michael Mike
Yobe State, Governor, Mai Mala Buni has called for a fundamental shift in Nigeria’s political and social discourse, urging citizens and leaders alike to allow the nation’s strengths—not its worst elements—define its identity.
Buni made the appeal during a courtesy visit by the Director-General of the Institute for Peace and Conflict Resolution, Joseph Ochogwu, warning that rising divisions and toxic narratives pose a serious threat to national stability.
Framing Nigeria’s imperfections as challenges to be resolved rather than triggers for disintegration, the governor stressed the need for unity and collective responsibility.
“Whatever imperfections that our system has should not lead to the destruction of our country. We are human beings—solution providers, divinely put together,” he said.
Buni lamented what he described as increasingly divisive rhetoric from political actors, noting that such tendencies deepen fault lines instead of fostering cohesion.
He said: “There is need for peace and reconciliation. Some political leaders have made statements that are so divisive, which is not good for the people.”
He urged Nigerians to embrace dialogue and conflict resolution as tools for national survival, emphasizing that differences must be managed constructively.
The governor insisted that Nigeria must not be defined by its worst actors, arguing that the majority of citizens are law-abiding and patriotic.
“The good should be what brands our nation—not the worst,” he declared.
He, however, criticised sections of the media and political class for amplifying narratives that undermine national unity, accusing them of promoting pessimism and division.
Buni expressed outrage over what he described as unpatriotic reactions to the killing of security personnel, condemning any form of celebration or trivialisation of such losses.
“It is not correct, it is not good, for anyone to celebrate the death of those protecting us,” he said, referring to fallen military personnel.
On democratic practice, the governor warned against equating freedom with disorder, stressing that respect for institutions, leaders, and societal values is essential.
“Democracy does not amount to disrespect. It should be rule-based, decent, and guided by decorum,” he said.
He cautioned that without discipline and mutual respect, democracy risks losing its value and effectiveness.
Buni also raised concerns over the role of social media in shaping public discourse, accusing some users of attacking institutions and leadership without accountability.
“There is need for regulation of social media to an extent,” he noted, pointing to what he described as widespread misuse.
The governor decried Nigeria’s culture of continuous politicking, arguing that governance has been overshadowed by early and prolonged electioneering.
“Politics now starts from day one of a new government. What time is left for governance?” he queried.
He contrasted this with more stable democracies, where post-election periods are focused on delivering governance and development.

Buni criticised a mindset driven by personal ambition at the expense of national progress.
“If I am not there, let everything spoil—it must stop. It does not build any nation,” he warned.
He added that undermining leadership ultimately weakens the country itself, calling for greater respect for authority and institutions.
The governor also called on religious leaders to promote unity, warning against messages that incite division.
“A preacher should be a preacher of peace, not hatred,” he said, urging clerics to reinforce hope and national cohesion.
Looking ahead, Buni stressed that political actors must prioritise national unity over personal ambitions, describing Nigeria’s formation as divinely ordained.
“Nigeria is a divine creation… it must be preserved,” he said.
Earlier, Ochogwu praised the governor as a consistent voice for peace and nation-building, describing him as a statesman committed to reconciliation.
“He has never made divisive statements… his voice is critical in promoting unity, especially in a time of deepening national divisions,” he said.
The visit, he added, was aimed at strengthening collaboration in advancing peacebuilding efforts across the country.
Let the Good Define Nigeria, Not the Worst — Buni Urges Reset in National Tone
News
Bandits abduct two women in Zamfara, security forces launch rescue operation
Bandits abduct two women in Zamfara, security forces launch rescue operation
By: Zagazola Makama
The Zamfara State Police Command says suspected armed bandits have abducted two women during a night attack on Wanzamai village in Tsafe Local Government Area.
Sources said that the incident occurred on April 15, 2026, at about 10:10 p.m., when armed men riding on motorcycles and wielding sophisticated weapons invaded the residence of one Shafiu Auta at the western outskirts of the community.
According to the sources, the attackers abducted two women during the raid, identified as Maryam Shafiu Auta, 20, the wife of the homeowner, and Anisa Auwal, 22, the wife of his brother.
The DPO Tsafe Division confirmed the incident, noting that troops under Operation Fansan Yamma were immediately alerted and mobilised to the scene.
However, the bandits were said to have escaped with the victims before security forces arrived.
The command said joint security operatives have intensified search-and-rescue operations across likely escape routes, while intelligence teams are engaging local vigilantes and residents to track the movement of the abductors.
It added that efforts are ongoing to determine whether any ransom demands have been made or if communication has been established with the kidnappers.
Bandits abduct two women in Zamfara, security forces launch rescue operation
News
Military, police foil bandit attack in Zamfara, launch follow-up operations
Military, police foil bandit attack in Zamfara, launch follow-up operations
By: Zagazola Makama
The joint troops of Operation FANSAN YANMA has foiled an attempted bandit attack on Farin Ruwa settlement in Maru Local Government Area.
Zagazola report that the incident occurred on April 15, 2026, at about 3:40 p.m., when suspected armed bandits from Bayan Ruwa hideouts in Maradun Local Government Area attempted to invade the community.
According to the sources , the troops under Operation Fansan Yamma, as well as police patrol swiftly responded to the distress call.
The security forces engaged the attackers in a gun duel, forcing them to retreat into nearby bushes with possible gunshot injuries.
The troops said the swift response prevented the attack and restored normalcy in the area, with residents returning to their daily activities.
It added that follow-up operations, including combing of the withdrawal routes, have been ordered to determine whether any of the bandits were neutralised or injured, and to recover possible weapons or traces of blood.
The sources said no casualties have been confirmed among civilians or security personnel at the time of the report.
The command further directed intelligence exploitation and debriefing of local residents to ascertain the strength, movement patterns, and direction of the fleeing bandits.
Military, police foil bandit attack in Zamfara, launch follow-up operations
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