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
Plateau: troops repel attack on Jol community in Riyom
Plateau: troops repel attack on Jol community in Riyom
By: Zagazola Makama
Troops of Operation Enduring Peace (OPEP) have foiled an attack on Jol village in Riyom Local Government Area of Plateau State.
Security sources said the incident occurred at about 3:30 p.m. on April 7 when troops of Sector 6 responded to reports of an attack by suspected terrorists on the community.
On arrival, the troops engaged the assailants in a firefight, forcing them to retreat into surrounding bushes.
No casualty was reported during the encounter.
The troops have since intensified patrols and continued to dominate the general area to deny the attackers freedom of action and prevent further threats.
Security sources said efforts were ongoing to track the fleeing suspects and sustain stability in the area.
Plateau: troops repel attack on Jol community in Riyom
News
Six killed, two injured as troops respond to terrorist attack on goods vehicle in Gusau
Six killed, two injured as troops respond to terrorist attack on goods vehicle in Gusau
By: Zagazola Makama
Six persons have been killed and two others injured following a terrorist attack on a vehicle conveying goods in Toffa village, Gusau Local Government Area of Zamfara State.
Security sources said troops of 1 Brigade, deployed at Combat Team 3 Magami, responded to distress information on the incident at about 2:30 p.m. on April 6 while on a fighting patrol.
According to the sources, the attackers opened fire on the vehicle, forcing it to overturn.
On arrival at the scene, the troops discovered that six occupants had been killed, while two others sustained injuries.
The injured victims were evacuated to a medical facility for treatment.
Security sources said troops have intensified patrols in the general area as part of efforts to track down the perpetrators and prevent further attacks.
Six killed, two injured as troops respond to terrorist attack on goods vehicle in Gusau
News
From Nigeria to Global Impact: Dr. Henrietta Ukwu’s Recognition Signals Rising Nigerian Influence in Global Health Leadership
From Nigeria to Global Impact: Dr. Henrietta Ukwu’s Recognition Signals Rising Nigerian Influence in Global Health Leadership
By: Michael Mike
A Nigerian-born physician who helped steer some of the world’s most critical drug approvals is drawing fresh global attention—not just for her personal achievements, but for what her journey represents about African excellence on the world stage.
Henrietta Ukwu has been named to Marquis Who’s Who, a century-old registry widely regarded as a benchmark for professional distinction and global influence. But beyond the honour itself, her recognition is being seen as a powerful reflection of the growing footprint of Nigerian professionals in shaping global health outcomes.
Currently serving as Executive Vice President and Chief Regulatory Officer at Novavax Inc., Ukwu operates at the highest level of pharmaceutical decision-making—where science meets policy, and where regulatory approvals determine which life-saving treatments reach millions.
Her influence spans major global institutions, including the U.S. Food and Drug Administration, European Medicines Agency, and other top-tier regulatory bodies, placing her at the centre of global public health governance.
Yet, analysts say her story is more than a career milestone—it is a case study in how African expertise is increasingly shaping solutions to global crises.
Beyond Recognition, A Story of Global Health Transformation
Ukwu’s career has unfolded across some of the most defining health challenges of the modern era. From her early work at Merck & Co., where she contributed to breakthrough vaccines and HIV treatments, to her leadership during the COVID-19 pandemic at Novavax, her work has directly impacted millions of lives.
Her role in securing Emergency Use Authorization for a COVID-19 vaccine in the United States marked a critical moment in the global pandemic response—one that required navigating complex regulatory landscapes under intense pressure.
Reflecting on her journey, Ukwu has consistently highlighted the collaborative nature of her achievements, describing her latest recognition as a tribute to “extraordinary teams” rather than individual success.
A Career That Mirrors Global Shifts in Medicine
With over three decades in the pharmaceutical industry, Ukwu’s trajectory mirrors the evolution of modern medicine—from the early battles against HIV/AIDS to the rapid-response vaccine development seen during COVID-19.
Her contributions to HIV/AIDS drug approvals helped shift the disease from a death sentence to a manageable chronic condition—one of the most significant medical transformations of the late 20th century.
Experts note that regulatory leaders like Ukwu often operate behind the scenes, yet their decisions are critical in determining the speed, safety, and accessibility of medical innovations worldwide.
Nigeria Connection Remains Strong
Despite her global stature, Ukwu has maintained strong ties to Nigeria, where she trained at the University of Jos. Her long-term vision includes contributing directly to the country’s healthcare system and rural development.
She is currently working with her family on a foundation aimed at improving basic infrastructure in her home community—focusing on clean water access, roads, and solar-powered energy solutions.
Her future plans also include deeper engagement with Nigeria’s public health sector, signalling a potential transfer of global expertise back to local systems.
Symbol of a Broader Trend
Her inclusion in Marquis Who’s Who comes at a time when Nigerian professionals are increasingly gaining prominence across global industries—from medicine and technology to academia and policy.
For many observers, Ukwu’s recognition underscores a broader narrative: that talent from developing countries is not only participating in global systems but actively shaping them.
As global health challenges grow more complex, figures like Ukwu represent a new kind of leadership—one that bridges continents, disciplines, and systems in pursuit of solutions that affect humanity as a whole.
From Nigeria to Global Impact: Dr. Henrietta Ukwu’s Recognition Signals Rising Nigerian Influence in Global Health Leadership
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News12 months 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.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
