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Centre Advises Tinubu on How to Tame Soaring Inflation
Centre Advises Tinubu on How to Tame Soaring Inflation
By: Michael Mike
President Bola Tinubu has been advised to take a holistic approach at taming the soaring inflation in the country
A press statement on Tuesday by the Lead Director of the Centre for Social Justice, Eze Onyekpere said it has become imperative that Nigeria’s economic managers adopt a holistic approach to improving the economy/decelerate inflation.
Among the advised given for a leeway out of the present economic doldrums include “Increased productivity especially in the tradable and export-oriented sectors (including oil and gas as well as removing export trade barriers in the agriculture sector in the short run) can shore up our foreign exchange earnings which will improve the value for the Naira against major international currencies thereby limiting import induced inflation.
“Improving security of lives and property through the right political will that guarantee value for money in the provision of security services in Nigeria. It should be recalled that security has been given the highest budgetary allocations at the federal level in the last ten years. This will also improve agriculture’s contribution to the GDP and food production thereby limiting food inflation which has been the major driver of inflation over the last one year. Improved security will further lead to increased oil and gas production for export and local refining.
“Limit ways and means of funding of the federal budget to the statutory limit of not more than 5 percent of previous years’ actual revenue in accordance with S.38 of the Central Bank of Nigeria’s Act 2007.
“Implement a Nigeria First Local Content Policy in Federal and State Public Procurement to ensure that capital budget implementation do not put undue pressure on the Naira. Rather, capital budget implementation should create jobs, enhance local productivity and grow the economy, and
“Stop denying Nigerians access to their money, vis cash in banks as a means of mopping up what is considered excess liquidity. This is a fundamentally flawed measure for the reduction of inflation.”
Centre for Social Justice noted that rising prices is a symptom of the overall negative macroeconomic fundamentals and strong headwinds besetting the Nigerian economy, adding that beyond inflation, the Naira is losing value, poverty and unemployment is increasing; there have been massive factory closures, increasing insecurity and population growth figures that almost outpaced economic growth.
The Centre said that: “Furthermore, the short term and medium-term impact of economic reform measures (fuel subsidy removal and exchange rate unification) have not been properly articulated. The reforms were not accompanied by an evaluation/projection of their impact on the economy as well as countervailing measures necessary to limit their harsh effects on prices and other macroeconomic indicators.”
Centre Advises Tinubu on How to Tame Soaring Inflation
News
European Union Commits €22m to Accelerate Nigeria’s Fibre Network Under BRIDGE Project
European Union Commits €22m to Accelerate Nigeria’s Fibre Network Under BRIDGE Project
By: Michael Mike
The European Union has pledged €22 million in grant funding to support Nigeria’s large-scale fibre-optic expansion, reinforcing the Federal Government’s drive to transform the country’s digital backbone.
The grant, announced in Abuja on Wednesday, will be channelled through the European Bank for Reconstruction and Development (EBRD) and on-granted to the Federal Ministry of Communications, Innovation and Digital Economy for implementation of the government’s Project BRIDGE initiative.
The EU funding will sit alongside an €86 million loan from the EBRD’s own resources, pending final approval. The operation represents the EBRD’s first major sovereign financing in Nigeria since the country formally became a shareholder of the bank last year.
Minister of Communications, Innovation and Digital Economy, Bosun Tijjani described the agreement as a decisive step toward delivering the BRIDGE project within schedule, noting that Nigeria’s digital transformation agenda depends heavily on robust and inclusive broadband infrastructure.
He said the partnership reflects growing confidence in Nigeria’s digital roadmap and expressed optimism that 2026 would mark a year of tangible progress in cooperation between Nigeria and the EU.
EBRD President, Odile Renaud-Basso, who is on an official visit to Nigeria, said the bank was proud to collaborate with the EU to expand digital infrastructure in Africa’s largest economy. She noted that the technical cooperation embedded in the financing is structured to crowd in private capital while ensuring secure, resilient and inclusive connectivity.
EU Ambassador to Nigeria, Gautier Mignot, underscored the strategic importance of digital networks to both Nigeria and the EU, stressing the need for trusted, high-integrity infrastructure built to international standards.
Project BRIDGE aims to deploy 90,000 kilometres of fibre-optic cables nationwide through a Special Purpose Vehicle (SPV) that will be capitalised with sovereign loans and private sector participation. In addition to the EBRD financing, the Federal Government is expected to receive support from the World Bank and the African Development Bank.
The EU’s €22 million package combines technical assistance with investment support to speed up project preparation and strengthen implementation capacity. It will fund low-level design work for about 40,000 kilometres of the planned network, including route mapping, crossing surveys, digital planning, quality assurance and security risk assessments aligned with global best practices.
Officials said this groundwork would provide the SPV with a ready-to-execute blueprint, enabling immediate rollout once financing arrangements are finalised and the vehicle is established with at least 51 per cent private sector ownership.
Beyond infrastructure, the grant is expected to deepen Nigeria’s digital skills base. About 2,000 technicians will receive specialised training, while small subcontractors will gain access to pooled procurement systems and equipment subsidies designed to reduce entry barriers.
Authorities estimate that these measures could lower deployment costs by between 20 and 30 per cent, while promoting adherence to Nigerian and EU quality standards and encouraging participation of European technology suppliers in the fibre supply chain.
The intervention forms part of the EU’s broader Global Gateway strategy, which supports investments in digital infrastructure, public services and human capital development across partner countries.
For Nigeria, the partnership signals renewed international backing for its ambition to build a resilient, open-access broadband network capable of driving economic growth, innovation and digital inclusion nationwide.
European Union Commits €22m to Accelerate Nigeria’s Fibre Network Under BRIDGE Project
News
Troops repel insurgents, neutralise suspected informant in Borno
Troops repel insurgents, neutralise suspected informant in Borno
By: Zagazola Makama
Troops of Operation Hadin Kai have repelled suspected insurgents and neutralised a suspected informant during operations in Ngamdu area of Borno.
Military sources said the action followed signals intelligence indicating that suspected Boko Haram elements were massing.
At about 2:30 a.m. on Feb. 18, troops carried out a fire mission on the identified area, forcing the insurgents to disperse and abort their suspected plan.
Shortly afterward, at about 3:45 a.m., troops engaged and neutralised a suspected insurgent informant who attempted to breach the trench defensive position in Ngamdu.
Sources said the troops immediately conducted a search of the surrounding area after the encounter but made no further contact with fleeing suspects.
Troops repel insurgents, neutralise suspected informant in Borno
News
Yobe: Troops Disperse Terrorists, Arrest Five Suspected Arms Smugglers
Yobe: Troops Disperse Terrorists, Arrest Five Suspected Arms Smugglers
By: Zagazola Makama
Troops of Operation Hadin Kai have disrupted a suspected terrorist gathering and arrested five suspected arms smugglers during separate operations in Yobe State.
Security sources said that at about 6:21 p.m. on Feb. 17, troops conducted a fire mission following credible intelligence that terrorists were converging in large numbers on motorcycles at Mangari, about 10.6 kilometres from the location of the 135 Special Forces Battalion in Buratai.

The swift action forced the insurgents to disperse in disarray, effectively disrupting their suspected plans.
In a separate development, troops of the Forward Operating Base (FOB) Potiskum apprehended five suspected arms smugglers and abductors at about 4:30 a.m. on Feb. 18 at a checkpoint along the Gombe–Potiskum road.

Those arrested included a 41-year-old suspect, Baba Abare, who was found in possession of an AK-47 rifle, alongside four others identified as Idris Zakari, 33; Nasiru Aliyu, 25; Abdullahi Sulaiman, 35; and Mohammed Idris, 34, all said to be indigenes of Potiskum town.

The suspects were intercepted in two Golf Wagon vehicles bearing registration numbers Borno NGL-506XA and Kaduna DKD16-01.

They were disarmed and handed over to appropriate authorities for further investigation.
Yobe: Troops Disperse Terrorists, Arrest Five Suspected Arms Smugglers
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