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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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River guard killed in Yobe, police begin investigation

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River guard killed in Yobe, police begin investigation

By: Zagazola Makama

A 40-year-old man, Musa Mohammed, has died after being allegedly attacked and thrown into a river by unknown assailants in Bursari Local Government Area of Yobe State.

Residents of Girim Village, Ya’u Gambo and Adamu Muhammad, told Zagazola Makama that the incident occurred at about 8:00 a.m. on Jan. 19, when the victim, who was employed to guard the village river, was confronted by some unidentified persons.

They said the attackers forcefully held Musa Mohammed, tied his hands and legs, and threw him into the river.

The sources added that about a month earlier, the deceased had a misunderstanding with five men from Dadigar Village in Bursari LGA, who allegedly warned him to stop guarding the river or face consequences.

Upon receiving the report, security operatives visited the scene and evacuated the victim from the river in an unconscious state.

“He was rushed to the Specialist Hospital in Gashua, where a medical doctor later confirmed him dead,” the sources said.

Photographs of the deceased were taken, and his remains were released to his relatives for burial according to Islamic rites.

Musa Mohammed was from Burburwa Village via Mayori in Yusufari Local Government Area of the state.

Investigation into the incident has commenced to identify and apprehend those responsible for the killing.

River guard killed in Yobe, police begin investigation

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At least 31 killed in Yatakala attack in Niger Republic

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At least 31 killed in Yatakala attack in Niger Republic

By: Zagazola Makama

No fewer than 31 persons have been killed following a deadly attack by suspected terrorists in Yatakala, Tillaberi Region of the Republic of Niger, near the tri-border area with Mali and Burkina Faso.

Sources told Zagazola Makama that the attack occurred on Jan. 18 in the Yatakala/Bolsi area of Tera Commune, where the assailants reportedly gathered residents together and opened fire on them.

The sources said that several other people, believed to be mostly women, were abducted during the attack, while five persons were injured as they tried to escape.

“They went from house to house, rounded people up and shot them. Those who managed to flee sustained injuries.

“Residents were rounded up and summarily executed, while an uncertain number mostly women, were abducted. At least 31 people were killed and five others injured as they fled,”one of the sources said.

The sources noted that Yatakala and surrounding villages toward the Burkinabe border had already been deserted by many inhabitants due to persistent attacks by armed groups.

No organisation had formally claimed responsibility for the latest atrocity, but the pattern and area of operation point strongly to Jama’at Nusrat al-Islam wal-Muslimin (JNIM), the Al-Qaeda-linked group active across the Liptako-Gourma axis

The area had previously come under attack on Jan. 3, 2026, when Yatakala/Garoul was assaulted and about 17 soldiers were reportedly killed.

Zagazola report that the Tillaberi theatre is under sustained pressure. The enemy appears intent on clearing large swathes of territory, forcing communities to abandon their homes and creating humanitarian corridors of displacement that terrorists then exploit for further expansion.

The attacks also draws to the attention of the accelerating expansion of jihadist violence across the Sahel and its dangerous spillover implications for Nigeria and the wider West African sub-region.

The attack fits into a broader campaign by both Al-Qaeda- and ISIS-aligned factions to dominate borderlands, forest reserves and riverine routes, particularly around the W Park–Panjari complex, with a creeping approach toward Niamey.

The strategic objective was to degrade state presence, terrorise civilians into flight, and establish uncontested movement and recruitment zones.

Its draws parallels with past atrocities, including the January 2025 killings in Kasuwan Daji in Borgu area of Niger State, allegedly carried out by JNIM in collaboration with JAS/Ansaru networks, as well as recent mass abductions at worship centres in Kurmin Wali, Kajuru LGA, Kaduna State.

These are not isolated incidents. They form part of a synchronised regional campaign aimed at destabilisation, psychological dominance and narrative warfare.

Zagazola warned that beyond the kinetic dimension, insurgents were also leveraging disinformation, including the manipulation of religious and ethnic narratives, to internationalise their cause and weaken regional cohesion.

The humanitarian crisis generated by these attacks will push refugees and internally displaced persons toward north-west and north-central Nigeria, with attendant security, social and economic consequences.

Therefore, Nigeria’s response must go beyond internal counter-terrorism operations to include strengthened diplomatic and security cooperation with Niger, Benin and other frontline states.

Border challenges cannot be curbed unilaterally. There must be deeper intelligence sharing, coordinated patrols and joint operations. ECOWAS and the Alliance of Sahel States (AES) must urgently re-engage on collective security mechanisms to contain this expanding threat,” he said.

Yatakala massacre was both a warning and a call to action.

If proactive regional measures are not taken, the Sahelian conflict arc will continue to bend southward, with Nigeria increasingly in the line of fire.

At least 31 killed in Yatakala attack in Niger Republic

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School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC

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School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC

Some students from the Special Education Centre in Gombe, have commended the Gombe State Government, and the North East Development Commission (NEDC), over ongoing renovation of their school.

The students told the News Agency of Nigeria (NAN) in Gombe, that the move would boost access to education for Persons With Disabilities (PWDs).

A NAN correspondent who visited the school, reports that there was ongoing renovation of facilities.

A visually impaired student of the Senior Secondary three class (SS3), Husseini Abubakar, said that the renovation sends a strong message of inclusion to them.

According to him, the ongoing upgrade of the school has renewed their hope in education and a better Nigeria, as emphasised by President Bola Tinubu.

“I was suprised to hear that our school is being renovated after many years of neglect.

“We had lost hope of any intervention, but see what Gombe State government and NEDC are doing; we lack words to express how we feel.

“Today, I feel that our President, Bola Tinubu’s statement of “let’s renew the hope” is being fulfilled in our school because our hope has indeed been renewed,” he said.

Another visually impaired student, Mr Ahmad Umar, noted that they use to share classrooms with junior students during the rainy season, following dilapidated classrooms.

“Some days, we prayed against rainfall so that we will not be beaten by the rain, but thank God the suffering has now ended, and a better structure is here,” he said.

He said that now, he feels relieved.

Another student with hearing disability, Mr Basesa David, who spoke through an interpreter, said he was happy that the days of cold were over

He noted that the rehabilitation of toilets facilities and regular water supply, would improve hygiene and health condition in the school.

“We are grateful, especially the female students who usually suffer severe cold from exposure and poor toilets; thank you Gov. Inuwa Yahaya of Gombe State and the entire leadership of NEDC,” he said

NAN reports that the school, a specialised institution in the state, was established in 1996, to cater for children with disabilities.

The renovation project, is aimed at improving access to inclusive, equitable and quality education for PWDs, who are learners in the state and the North-East.

The centre currently has a population of 615 students

School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC

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