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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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2027: Constituents declare support for Tinubu, Goje’s re-election

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2027: Constituents declare support for Tinubu, Goje’s re-election

Yamaltu/Deba constituents have declared support for President Bola Tinubu and Senator Danjuma Goje’s re-election ahead of the 2027 General Elections.

Dr Newton Moses, declared the support in a statement read on behalf of the people of Yamaltu/Deba Local Government Area of Gombe State on Friday in Gombe.

Moses said voting for experienced leaders in 2027 remained key to addressing Nigeria’s challenges and delivering dividends of democracy to Nigerians.

He said the group’s decision to support Tinubu and Goje was guided by patriotism, and a sincere desire to see competent, and result-driven leadership that would benefit their constituents and the country.

He said that Goje’s leadership in the past 16 years at the Senate has benefitted the constituents and given effective representation to the people of Akko and Yamaltu/Deba LGAs that make up the district.

He dismissed allegations that the people of Yamaltu/Deba have been marginalised and were demanding the seat to be zoned to Yamaltu/Deba and not Akko where Goje is from.

He said that the constitution did not impose any zoning limitation or tenure restriction on membership in the National Assembly, hence urged those seeking the seat to test their popularity through election.

“We are not part of that group saying Goje should not return to the senate in 2027; that is not the voice of the grassroots from Yamaltu Deba.

“ Goje has, over the years, built invaluable networks and acquired the experience necessary to effectively advocate for the interests of his constituency and contribute meaningfully to national development.

“ By returning Goje to the Senate, Gombe Central stands to gain even more.

“ His established influence will ensure greater access to federal opportunities, increased developmental projects, and stronger representation in critical national decisions,” he said.

The group further advised President Tinubu to stay away from those working to tarnish the good name of Goje, stating that Goje’s influence in Gombe was important for the success of the All Progressives Congress in 2027.

Moses said at a time when Nigeria is focused on economic recovery, institutional strengthening, and inclusive growth under Tinubu, it was imperative that proven leaders like Goje to continue contributing his expertise toward national progress.

2027: Constituents declare support for Tinubu, Goje’s re-election

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Hope in the Hard Times: Ashlee Momoh Foundation Spreads Easter Joy to Military Widows

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Hope in the Hard Times: Ashlee Momoh Foundation Spreads Easter Joy to Military Widows

By Comrade Philip O. Ikodor

The Ashlee Momoh Foundation (AMF), a non-profit organization dedicated to supporting the families of fallen officers, marked the Easter season with a heartwarming outreach to military widows at different locations in Abuja and Nasarawa state, respectively on April 2nd, 2026. This thoughtful initiative was designed to bring joy, hope, and support to the widows of our fallen Military Officers, who have made immense sacrifices for their country.

“Easter is the season of renewal, hope, and the triumph of light over darkness,” Princess Ashlee said. “It reminds us that even after the longest winter, spring arrives and even after the deepest sorrow, there is the possibility of a new dawn.” The outreach was designed to show support and encouragement to the military widows, and to felicitate with them on the occasion of Easter.

Princess Ashlee Momoh reassured the widows that while their loved ones are no longer physically present, their legacy lives on, and AMF is committed to standing with them, supporting them, and celebrating their strength. “Today, we celebrate you, our heroes’ widows, and the sacrifices you’ve made,” she said.

The event was filled with moments of joy and fulfilment, as beneficiaries received gift items, cash gifts, and scholarship opportunities. The Foundation also announced enlistment for skill acquisition and empowerment programs, aimed at equipping the widows with the tools they need to rebuild their lives.

The outreach was a testament to AMF’s unwavering commitment to supporting the families of fallen officers, and its dedication to making a positive impact in the lives of those who have made immense sacrifices for their country. As one beneficiary put it, “This Easter, we’ve received more than just gifts – we’ve received hope, love, and a sense of belonging.”

The Ashlee Momoh Foundation’s Easter outreach was a powerful reminder that even in the darkest moments, there is always hope, and that together, we can overcome any challenge.

Hope in the Hard Times: Ashlee Momoh Foundation Spreads Easter Joy to Military Widows

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Six die, 12 injured in Kwara road crash

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Six die, 12 injured in Kwara road crash

By: Zagazola Makama

Six persons have been confirmed dead and 12 others injured in a fatal road traffic accident along the Okolowo–Jebba expressway in Kwara State.

Police sources said the accident occurred at about 6:00 a.m. on April 2 near Danjuma Bakery area, involving a Toyota Hummer bus and a stationary truck.

According to the sources, the bus with registration number BTR-161-XA was conveying 18 passengers from Lagos State to Katsina State when it rammed into a parked truck with registration number BUU-495-ZD.

The truck was reportedly driven by Kamarudeen Abdullahi, said to be from Jos North Local Government Area of Plateau State.

The impact of the collision resulted in the death of six passengers on the spot, while 12 others sustained varying degrees of injuries.

The injured victims were rushed to the University of Ilorin Teaching Hospital, Oke-Oyi, for medical attention, while the remains of the deceased were deposited in the hospital morgue for autopsy.

Police said investigation had commenced to determine the circumstances surrounding the crash.

Six die, 12 injured in Kwara road crash

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