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Nigeria Inflation And Its Effects-Usman Isah

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Usman Isah

 

By Usman Isnaila Isah

In 2021, the country’s inflation rate stands at 17 %, even though it fluctuated substantially in recent years. It tended to increase through 2002 – 2021 period ending at 17 % in 2021.

The only question begging for billions of answers is why inflation in Nigeria skyrocketed so high. According to the national bureau of statistics (NBS), the rise to a sharp increase in demand ahead of the Christmas season, import cost hikes due to the depreciation of the naira currency and a rise in production cost.

the NBS explains that the rising inflation rate was caused by soaring food prices disruption in food supply chain, rise in import cost due to the currency depreciation and increase in the cost of production.

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Inflation is a a serious problem for a country like Nigeria grappling with sundry issues like insecurity and poverty.

For instance, unlike in advance nations such as the US and Japan where some levels of inflation is tolerable to stimulate economic activities, Nigeria inflationary trend is detrimental to its growth due to its structural deficiency, logistics problem and insecurity among others.

High inflation tends to worsen inequality and poverty; because it hits income and savings harder for poorer or middle income households than wealthy households that have recently escaped poverty could be pushed back into it by rising inflation.

Problems Of Inflation In Nigeria

Inflation is a major drive of poverty in Nigeria, and other several macroeconomic problem such as insecurity, inadequate infrastructure, exchange rate hike, poor economic policies and debt upsurge. In an inflationary environment unevenly rising prices inevitably reduce the purchasing power of most consumers and this erosion of real income is the single biggest cost of inflation.

It also hurts the economy and consumers in 3 major ways, such as less purchasing power, less savings, loss of goods and services.

Basically, there are two main types of inflation, which are, Demand pull inflation and Cost push inflation. These two types of inflation usually cause an increase in the overall price level within an economy. Inflation high rates can be curbed via effective monetary and fiscal policies, and this implies that the government must manage the exchange rate via an effective monetary policy, encourage exportation, encourage and improve made in Nigeria if possible subsidized the dollar, and encourage the marketers.

Government must as a matter of fact show sincerity of purpose and real political will if it desires the country to pull out of the current inflation rate that the country currently finds itself.

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Opinion

Ganduje’s Visit of Shame, By Adnan Mukhtar

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The visit of Alhaji Atiku Abubakar to former President Muhammadu Buhari has given the All Progressives Congress a sleepless night.

At a time when the party should focus on how to better the life of Nigerians as a result of the hardship since the inauguration of President Bola Ahmed Tinubu; the party has resorted to acting like an opposition.

It’s obviously clear that Atiku is setting a precedent for the party to follow. Even though he has told the world that his visit to the former President is a personal one, a post sallah visit as he told Nigerians on his Facebook Page; the former Vice President has reiterated his commitment to forming a formidable coalition that will defeat President Tinubu in 2027.

Shortly after Atiku’s visit, Ganduje rushed to the Kaduna residence of Muhammadu Buhari to visit him alongside some members of his National Working Committee.

When asked by journalists about his take on the Coalition; he replied, “We are not concerned about any coalition.”

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If they are not concerned, then why the rush to visit Buhari after Atiku’s visit. It was the APC governors in the first place, as reported by some national dailies. The visit was to persuade Buhari to stop his people from joining the coalition.

Whatever, the upcoming coalition is for the good of this country, it is an effort to rescue the country in the hands of President Tinubu, who has inflicted hardship in all ramifications to Nigerians

There is kidnapping in the land, of recent bandits kidnapped a retired major General and former head of one of our critical national institutions NYSC, what confidence would it give our corps members.

The government is taking credit of his release, to this moment, the truth of the matter hasn’t prevailed. Was General Tsiga released after payment of ransome or rescued by security agencies?

Every well-meaning Nigerian should support the coalition, it’s is not about Atiku or El-rufai; it is about the future of Nigeria as a nation.

The APC as a party should call it’s son President Tinubu, to order so that he can do the needful to fix this country from the current mess, not following every footstep of Atiku.

Atiku is indeed a powerful opposition figure.

Atiku’s Visit to Binta Yar’adua

Shortly after his visit to former President Muhammadu Buhari, Atiku visited the wife of his lifetime mentor, General Shehu Musa Yaradua.

The visit symbolises Atiku’s loyalty to his mentor Shehu Yaradua even in death. I read in his autobiography how Shehu not only helped him but has later become his business partner. Shehu Yaradua was part of Intels, an investment where Atiku is a major shareholder.

It’s good to be loyal, Atiku is a loyalist of Shehu; a loyalty that should inspire the younger generation.

May our loyalty never be tasted!

Adnan is a university lecturer and a communication strategist

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Opinion

2027:Why Fa’izu Alfindiki Is Municipal’s Best Choice For Reps

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From Danlami Gandun Albasa

There is no doubt that the former Chairman of Kano Municipal Hon Fa’izu Alfindiki (Jundullahi) can make a better candidate for the position of House of Representatives, in the forthcoming 2027. His name alone rings bell and sends fear to the ears and hearts of his political opponents. Kwankwasiyya especially and their hidden supporters.

It is very clear for all to come to term with me when I argue that Alfindiki is not only composed, but he has clear understanding of voters behavior in his constituency, Municipal local government and other Metropolitan areas.

I have my concrete reasons why Alfindiki stands better chance to be the candidate for House of Representatives seat from Kano Municipal, in 2027.

Let’s have a simple look at those reasons. See below for your perusal :

1. Apart from being the immediate past local government Chairman, whose understanding of grassroot politicians (yan dangwale) their needs and behaviors, become part and parcel of his political experience, his relationship with many categories of people gives him an edge over many others, who recently indicate their interest,

2. Alfindiki’s visibility in the social media, as both active user and active contributor in political discussions in the social media means a lot for his breakthrough,

3. Coming from Bakin Kasuwa side of the Municipal local government, will give headache for Kwankwasiyya or NNPP people. Who are densely populated there. So when Bakin Kasuwa politicians see their son contesting for the position, they will rally behind him for popular support and endorsement at all cost,

4. Fa’izu has no hidden relationship with Baba Ganduje’s enemies and political opponents. You cannot pinpoint any figure within Kwankwasiyya circle and get any link with him or her and Fa’izu Alfindiki. He is always straightforward,

5. Alfindiki has no history of abusing our pillars within APC or their families. He still believes, our pillars, ranging from Baba Ganduje, Abdullahi Abbas and the like, are still reliable and dependable. Nowhere in his political history, where he resorts to abusing the families of our leaders, at whatever rate and range,

6. Alfindiki is always up and doing in coordinating all parts of our great party APC to be strong and reliable political platform, and

7. Without any fear of contradiction, Alfindiki is responsible without pretending. He unifies supporters and does not believe in creating factions within the larger body of our great APC

TO BE CONTINUED

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Opinion

Letter To IGP On Reaffirming Respect For Traditional Institutions And The Role Of The Nigeria Police Force In Upholding Justice

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Sir,

We acknowledge the Nigeria Police Force’s recent decision to withdraw its invitation to the Emir of Kano, Mallam Muhammadu Sanusi II PhD, in connection to an incident during the Sallah celebration in Kano on March 30, 2025. While this move is appreciated, it is important to highlight that the Nigeria Police Force (NPF) is a noble institution revered for its commitment to maintaining law and order.

As such, we believe that the leadership of the NPF, particularly the Inspector-General of Police (IGP), should not be utilized as a tool for actions that could be construed as undermining this esteemed institution. The primary responsibility of the NPF is to maintain law and order in society, not to engage in actions that sow division or disrespect for the country’s revered institutions.

We wish to respectfully draw the attention of the IGP to certain issues that require immediate attention. First and foremost, addressing an Emir without the appropriate protocol is a sign of disdain, not only to the individual Emir but to the entire traditional institution. An Emir, whether alive,deposed, or deceased, should never be referred to without the prefix “Emir” or “His highnerss. Referring to the Emir as “Alhaji,” “Mallam,” or “Dr.” without the appropriate title raises concerns and may lead to suspicions regarding the position of the NPF toward the Emir, His Highness, Mallam Muhammadu Sanusi II PhD.

Additionally, we believe that the question of whether the NPF’s press release, demanding that the Emir provide a statement, was necessary is a matter of concern. The state police command had already made arrests and issued an invitation to Sallaman Kano, the most senior aide in charge of palace affairs

This action should suffice for the continuation of the investigation without the need to escalate matters by seeking the Emir’s direct involvement. Further engagement with the Emir, if necessary, can be carried out through appropriate channels, in line with the traditional and legal protocols.

While we appreciate the IGP’s prompt action in withdrawing the invitation, we would like to emphasize the importance of maintaining respect for the traditional institution and ensuring that police actions do not inadvertently politicize or disrespect any parties involved. We trust that the IGP will take this into account as the investigation progresses and that professionalism, neutrality, and justice will guide the NPF in handling this delicate matter.

In conclusion, we hope that the NPF continues to uphold its role in a manner that respects the traditions and laws of our nation. It is essential that such matters be handled with the utmost care, respecting both the rule of law and the sanctity of the traditional institutions.

Tijjani Sarki
Vice President
Human Rights Watch and youth empowerment foundation, Kano, Nigeria
7th April 2025

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