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ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions

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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

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Governor Buni speaks on primary elections where consensus failed

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Governor Buni speaks on primary elections where consensus failed

By: Yahaya Wakili

Governor Mai Mala Buni of Yobe State has revealed that the All Progressives Congress (APC) is open to a fair, credible, and transparent primary election if there is no general agreement on the consensus mode.

Governor Buni started this while commenting on the crisis rocking the party over the governor candidate for the 2027 general election. He said the party has not foreclosed direct election to produce its candidates for the contestable offices for the 2027 general election.

According to him, the party is still working on dialogue; “we are talking to each other and reaching out to the stakeholders, including the aspirants, to arrive at an amicable solution.”

“As the governor of Yobe state, I will be the happiest person to see that the state and party are peaceful and united, noting that we remain citizens of Yobe state and members of APC.

“My expectation is to see us more united and collectively working for our candidates to win the 2027 general elections,” Governor Buni said.

Governor Buni further said, “As a founding member, former secretary, and national chairman of the All Progressives Congress (APC), the unity and progress of the party mean so much to me personally; therefore, I will continue to support and protect the ideals of the party to remain Nigeria’s ruling political party.”

He expressed optimism that the aspirations for public offices in the state are driven by the desire to serve the people for a better and improved life.

Governor Buni speaks on primary elections where consensus failed

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Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

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Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

By: Zagazola Makama

Troops of Sector 7, Operation Enduring Peace (OPEP), in collaboration with the Civilian Joint Task Force (CJTF), have arrested a suspected kidnapper in Kamuru village in Zangon Kataf Local Government Area of Kaduna State.

Security sources said the arrest was made at about 0330 hours on May 12 during a coordinated operation in the area.

The suspect, identified as Mr. Husaini Jibrin, 45, was reportedly apprehended at Kamuru village over alleged involvement in a kidnapping incident that occurred in Angwan Ali community on April 26, 2026, within the same local government area.

According to the sources, the suspect is believed to be linked to the planning and execution of the abduction, which had triggered security concerns in surrounding communities at the time.

Items recovered from the suspect include one mobile phone and the sum of ₦10,000 in cash.

The military said the suspect is currently in custody and undergoing interrogation as part of ongoing investigations aimed at dismantling kidnapping networks operating in the region.

Authorities added that troops have intensified surveillance and patrol operations across vulnerable communities in southern Kaduna to curb criminal activities and improve public safety.

Operation Enduring Peace continues to conduct joint operations with local security outfits and community-based structures as part of efforts to address insecurity in affected areas.

Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

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Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

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Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

By: Zagazola Makama

Troops of Sector 6, Operation Enduring Peace (OPEP), have repelled an armed attack on an isolated settlement in Vwang Kagot community in Jos South Local Government Area of Plateau State, in an incident that left two civilians dead.

Security sources said the troops responded swiftly at about 0130 hours on May 12 following reports of an attack by suspected armed assailants on the rural community.

The attackers, reportedly described as suspected armed herdsmen, stormed the settlement and engaged in violent activities before the arrival of security forces.

Upon intervention, troops in collaboration with Keystone Kuru Division forced the assailants to withdraw from the area.

However, the attackers had already killed two residents identified as Ngo Shetu Badung, 78, and Mr. Danjuma Badung, 52, before fleeing the scene.

Following the incident, troops launched clearance operations in the general area and are currently trailing the fleeing suspects.

Military authorities said additional patrols and surveillance measures have been intensified to prevent further attacks and reassure residents of their safety.

Operation Enduring Peace noted that it remains committed to stabilising vulnerable communities across Plateau State and ensuring that perpetrators of violent attacks are brought to justice.

Local security stakeholders have also continued engagements with community leaders to strengthen early warning systems and improve response to emerging threats in rural settlements.

Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

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