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
Security forces Conduct Show of Force In Jos, Bukuru During Church Services
Security forces Conduct Show of Force In Jos, Bukuru During Church Services
By: Zagazola Makama
Joint Security forced in Plateau State on Sunday conducted a joint show of force across major flashpoints within Jos metropolis and the Bukuru general area to ensure peaceful church services and strengthen public confidence.
The operation involved troops of Operation Enduring Peace, personnel of the Nigerian Air Force 551 Station, Operation Keystone, the Nigeria Security and Civil Defence Corps (NSCDC), and other security agencies.
Security sources said the exercise commenced at about 7:30 a.m. and was aimed at denying criminal elements freedom of action while providing adequate security coverage during church services.
The coordinated patrols and visibility operations covered identified vulnerable areas and strategic locations within Jos and Bukuru.
According to the sources, the operation was conducted without any security breach or incident, while religious activities across the affected areas remained peaceful.
The security agencies reaffirmed their commitment to sustaining collaborative operations aimed at maintaining law and order as well as protecting lives and property in Plateau State.
Security forces Conduct Show of Force In Jos, Bukuru During Church Services
News
Teenage Sensations Rosemary, Miracle Win Gold for Nigeria, Secure World Championship Spot
Teenage Sensations Rosemary, Miracle Win Gold for Nigeria, Secure World Championship Spot
Nigeria recorded a major triumph at the 24th CAA Senior Athletics Championship in Accra, Ghana, as teenage athletes Rosemary and Miracle delivered a stunning performance to win gold for the country in the women’s 4x100m relay event.
The young stars, both students of NTIC Secondary School, helped Team Nigeria clinch the gold medal with an impressive time of 42.94 seconds, further underlining the country’s growing strength in athletics.
Their victory also secured Nigeria a ticket to the World Championships in Gaborone, while guaranteeing qualification for the 2027 World Championship in China.
The feat was particularly remarkable for Rosemary, who was making her senior debut for Nigeria at the continental championship.
Sports enthusiasts have since praised the duo for proving that age is no barrier to excellence, with many describing their performance as a glimpse into the bright future of Nigerian athletics.
Teenage Sensations Rosemary, Miracle Win Gold for Nigeria, Secure World Championship Spot
News
The Role of Intelligence in the Nigeria-US Joint Counter-Terrorism Operations That Neutralized Top ISWAP Commander, Fighters
The Role of Intelligence in the Nigeria-US Joint Counter-Terrorism Operations That Neutralized Top ISWAP Commander, Fighters
By Augustine Aminu
On Friday, May 16, 2026, the world was jolted by news of the killing of top commander of the Islamic State’s West Africa Province (ISWAP), Abour Mainok and several other fighters. Also known as Abu Bilal al-Minuki, and considered the second-in-command of ISIL (ISIS) globally, the top terrorist commander was reportedly killed during a joint Nigeria-U.S. Counter Terrorism operation in Metele, Borno State.
Ever since the elimination of al-Minuki, considered one of the biggest blows in recent times to terrorists in the world over, torrents of encomium have been pouring in for the Nigeria -U. S. joint terrorism operations.
Posting on his Truth Social handle, U. S. President Donald Trump, wrote, “Brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,”
Al-Minuki, added President Trump, “thought he could hide in Africa, but little did he know we had sources who kept us informed on what he was doing.”
On his part, President Bola Tinubu stated that both countries had “recorded a significant example of effective collaboration in the fight against terrorism”.
Early assessments indicate that al-Minuki, along with “several of his lieutenants,” were killed during a strike on his compound in Metele, Borno State,” Tinubu said.
“Nigeria appreciates this partnership with the United States in advancing our shared security objectives,” he added. “I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort,” he added.
A few days after President Trump praised Nigerian Intelligence services for helping to hunt down Abu-Bilal al-Minuki, a man he described as “the most active terrorist in the world,” US Air Force General, Dagvin R.M. Anderson, Commander of U.S. Africa Command, also spoke glowingly of Nigeria’s Intelligence services.
Remarked Anderson, “The Nigerians have been instrumental throughout the last several months, developing the target, helping us with the Intelligence and providing support. So, it could not have been done by our own Forces. We needed to do that in conjunction with them.”
Security sources who analyzed President Trump’s terse statement, alongside that of the to head of AFRICOM, General Anderson, were quick to point out that the “sources” who kept the United States and Nigerian Armed Forces informed of the movements of al-Minuki and his fighters, may be none other than Nigeria’s Intelligence agencies: the Department of State Services (DSS), the Nigerian Intelligence Agency (NIA), and Defence Intelligence Agency (DIA).
Interestingly, six days before al-Minuki’s elimination, something crucial to the fight against terrorism happened in one North central town, well over 1,100 kilometres away from Metele, Borno State, where al-Minuki and over 175 of his fighters would meet their Waterloo.
Just as DSS, NIA and DIA operatives were helping US and Nigerian troops monitor the movement of Al-Minuki and his fighters around the Lake Chad region, a set of DSS operatives covertly captured a notorious leader of one of ISWAP’s critical cell in Nigeria . His name is Abdulrahman Ozovieh Muhammad alias Abu Ghozi.
Abu Ghozi, security sources believe, masterminded the December 2020 attack on a military checkpoint in Okene, killing two naval personnel and carting away their weapons.
Additionally, Abu Ghozi is believed to have masterminded the 11th March, 2021 bank robbery at Okuku, in Oda-Atin LGA of Osun State; carried out several attacks on police formations in Okene, Okehi and Adavi LGAs. He didn’t spare security checkpoints along Okene-Auchi, Okene –Kabba and Okene-Ajaokuta roads.
Also believed to be behind several kidnaps, including the October 2025 kidnap of a Chinese national in Okpella, Edo State, during which eight personnel of the Nigerian Security and Civil Defence Corps (NSCDC) were killed, is Abu Ghozi.
In January, 2026, his group reportedly attacked and burnt down the house of the Chief Priest at Uhodo area of Okehi LGA. Members of his suspected terrorist group were, before his arrest by the DSS, reportedly set to attack detention facilities in Kainji and Abuja, to release detained members of their group.
Security sources believe that Abu Ghozi’s capture by DSS officers may have greatly helped the Nigerian Intelligence Services (DSS, NIA and DIA) gather further Intelligence that was ultimately used to nail al-Minuki and his fighters six days later in faraway Metele, Borno State.
No doubt, Nigeria’s Intelligence community and their military counterpart again proved very invaluable to the recent successes in the global fight against terrorism, and helped position Nigeria as a very trusted ally in the fight against terrorism.
For the first time since Nigeria began fighting terrorism circa 2010, the country has now fully turned the heat on terrorists, smoking them.out on a daily basis.. The recent successes recorded shows that with our Armed Forces increasingly relying on the intelligence supplied by the DSS, NIA and DIA, Nigeria will sooner than later overcome her security challenges.
Aminu has been online editor of several newspapers, and lives in Abuja
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News1 year agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Politics12 months ago2027: Why Hon. Midala Balami Must Go, as Youths in Hawul and Asikira/Uba Federal Constituency Reject ₦500,000 as Sallah Gift
