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Stakeholders Raise Concern As Nigeria’s Inflation Rate Rises To 31.70%
The challenge of spiraling inflation and how to stem the tide has been central to stakeholders engagements in recent times.
According to analysts at CardinalStone Finance, an investment house, the rising inflation pressure indicates that Nigeria remains within the top 10 countries with the highest inflation reading in Africa.
The analysts said that a material jump in prices of food stuff like rice, was a consequence of the increasing depletion of food reserves and incessant insecurity issues in food-producing parts of the country.
The Tide’s source reports that Nigeria’s inflation rate rose to 31.70 per cent in February from 29.90 per cent in January.
This is according to recent data from the National Bureau of Statistics (NBS).
The NBS said that the February headline inflation rate showed an increase of 1.80 per cent compared to the January headline inflation rate.
It said that on a year-on-year basis, the headline inflation rate was 9.79 per cent points higher than the rate recorded in February 2023, which was 21.91 per cent.
“This shows that the headline inflation rate (year-on-year basis) increased in the month of February 2024 when compared to the same month in the preceding year ( February 2023),” the NBS said.
The International Monetary Fund (IMF) also warned that 8.0 per cent of Nigerians are at a high risk of food insecurity if the current inflationary trajectory persisted.
The Governor of Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said that the leading factors driving inflationary pressure in Nigeria included rising cost of energy.
Cardoso said that high fiscal deficits and lingering security challenges in major food -producing areas were also responsible for the high inflation rate.
He said that the apex bank had initiated a raft of inflation-targeting frameworks in its monetary policy measures.
He said that this informed the decision by the CBN to further raise the Monetary Policy Rate (MPR) by 400 basis points to 22.75 per cent from 18.75 per cent.
According to Cardoso, the move followed the success recorded in slowing down inflation in the past using the same mechanism.
Stakeholders, however, believe that the removal of petrol subsidy, closely followed by the decision to float the Naira were largely responsible for the spiraling inflation.
According to Okechukwu Unegbu, a past president of the Chattered Institute of Bankers of Nigeria (CIBN), President Bola Tinubu already took some sensitive policy decisions even before appointing the CBN governor and the finance minister.
“Floating the Naira was a major error that has exacerbated inflationary trend and caused the people so much pain,” he said.
Unegbu urged the government to fix the economy by looking beyond the Organisation of Petroleum Exporting Countries (OPEC) in selling its crude oil.
He also advised that the government should ignore economic prescriptions by the World Bank and IMF and produce indigenous solutions to the nation’s economic challenges.
“Nigeria should do something about pricing its oil in Naira. We should leave OPEC, price our oil independently.
“If inflation can be addressed; if we produce more food, things will improve. It will also address the issue of “dollarisation of the economy,’’ he said.
A renowned economist, Prof. Ken Ife, said that the CBN adopted inflation targeting as a basis for further tightening monetary policy rates, an indication of how serious government took the country’s rising inflation.
Ife, however, said that the support from the fiscal authorities was crucial to achieving monetary policy results.
“The CBN says it is going for inflation targeting, but there should be more support from the fiscal authorities because a lot of the issues with the economy are not really monetary.
“We have N500 billion going for social intervention annually, the money does not go into the productive sector,” Ife said.
He said that the import dependence nature of Nigeria’s economy was a major fuel to the inflation and weak Naira in the foreign exchange market.
According to him, not much has changed in terms of the structure of the economy over the years.
He said that Nigeria was part of an international division of labour, which confines it to the provision of raw materials and consumer of finished products.
“Any attempt to add value to our exports is usually met with stiff resistance.
“When a country is import dependent, it becomes so vulnerable to any external, global headwind, and it affects the economy
“The mortgage crisis in America and the Russian-Ukrainian war affected us because we are import-dependent. What we have is imported inflation,” he said.
Dr Chijioke Ekechukwu, an economist, said that while many countries were having their inflation rate reduced month-on-month, Nigeria’s inflation rate continued to rise because of volatile exchange rate regime.
Ekechukwu said that standard of living had dropped to the lowest ebb while the country’s external reserve was being eroded by inflation.
“Cost of living has become increasingly unbearable, crime has taken over the entire country, and investors are afraid to venture into the country.
“Companies are shutting down and leaving the country and jobs are lost every day.
“The government has to be very decisive as a matter of urgency to remedy the ailing economy by ensuring that the exchange rate improves to less than N800 to the dollar.
“The exchange rate must be stable to enable planning and to restore confidence in the economy,” he said.
Ekechukwu said that every possible avenue should be explored to diversify the country’s export base.
He advised the Federal Government to ensure that the country’s crude oil sales met the OPEC quota of 1.8 million barrels per day.
“The Federal Government should also ensure that revenue from crude oil sales came in on a daily basis through the CBN, “ he said..
He said that such a step would provide the country with enough liquidity to check inflation and other economic challenges.
News
ADIAfrica Concludes Free Eye Screening Outreach In PH
The Africa Global Development For Positive Change Initiative (ADIAfrica), in collaboration with Stephen Igwe and Judith Igwe International Educational System, has concluded a free eye screening outreach for residents of Rivers State.
The outreach, which was flagged off in Port Harcourt, targeted more than 300 individuals with various eye conditions. Speaking at the event, the International President of ADIAfrica, Prince Dan Mbachi, said the initiative was designed to provide access to essential eye care services for underserved communities.
According to him, the first phase of the exercise commenced in Obio/Akpor Local Government Area and is expected to extend to Etche and Ikwerre Local Government Areas, while the second phase will cover other parts of the state.
Mbachi described the outreach as part of the organization’s commitment to promoting quality healthcare, equity, human dignity, and sustainable development. He emphasized that vision challenges go beyond medical concerns, noting their impact on education, economic productivity, and family wellbeing.
“At ADIAfrica International, we recognize that vision is not merely a medical issue; it is also economic, educational, and social. A child who cannot see clearly struggles to learn. A trader with impaired vision struggles to work. When sight is compromised, opportunity is limited,” he said.
He explained that the exercise provided eye tests, medications, visual field assessments, eyeglasses, contact lenses, and related accessories, stressing that the intervention was aimed at transforming lives rather than serving as a mere charitable gesture.
Mbachi further noted that the initiative aligns with ADIAfrica’s broader mission of advancing sustainable development through practical and people-centered solutions.
Also speaking at the event, a chief from Rumueme Kingdom in Obio/Akpor Local Government Area, Chief Livingston Akaninwo, commended the organisation and its partners for supporting vulnerable members of society. The traditional ruler expressed concern that many people with eye conditions suffer silently due to poverty and limited access to healthcare.
He called on the government and well-meaning individuals to support ADIAfrica’s efforts to enable the outreach to reach more communities across the state.Some beneficiaries, including Mrs. Veronica Peters Olera Pere, expressed gratitude to the organizers for the initiative and appealed for the programme to be extended to other parts of Rivers State to benefit more residents.
By: John Bibor
News
UNICEF, RSG Train Rivers Girls To End FGM, Promote Health, Women Rights
A three-day intensive training programme aimed at empowering adolescent girls with knowledge, life skills, and advocacy tools to eliminate Female Genital Mutilation (FGM) and promote their wellbeing has ended at Okogbe Community in Ahoada West Local Government Area of Rivers State.
The programme, which held from February 26 to February 28, 2026, was organised by the United Nations Children’s Fund (UNICEF) in partnership with the United Nations Population Fund (UNFPA) and the Rivers State Ministry of Social Welfare and Rehabilitation. It brought together adolescent girls aged between 10 and 19 years drawn from five communities in the area, including Ubeta, Okogbe, Okaki, Akinima, and Akoh.
The training was designed to reactivate and strengthen girls’ clubs across Ahoada West, Abua/Odual, and Emohua Local Government Areas, with a strong focus on ending harmful traditional practices and equipping participants with knowledge to improve their health, safety, and social wellbeing.
Throughout the three days, facilitators engaged the girls in interactive sessions covering a wide range of topics such as menstrual hygiene, puberty education, communication skills, gender-based violence, child rights, personal hygiene, emotional intelligence, and the importance of empathy and peer support. Particular attention was given to the dangers and long-term consequences of FGM, which experts described as a serious violation of the rights of women and girls.
One of the facilitators, child protection advocate, Inyingi Irimagha, specifically of the Child Protection Network(CPN), emphasised the need to challenge harmful cultural practices that negatively affect girls, noting that culture should evolve when it threatens human dignity and health.
UNICEF Desk Officer at the Rivers State Ministry of Social Welfare and Rehabilitation, Victor Iseberetonma, also stressed that empowering young girls with knowledge and confidence remains one of the most effective strategies for eliminating FGM.
He attributed the successful organisation of the programme to the doggedness and commitment demonstrated by UNICEF, the Permanent Secretary of the Ministry, Mrs Lauretta Davies-Dimkpa, and others in making sure that no stone was left unturned for the smooth take-off of the programme, and particularly thanked UNICEF for the great work it is doing in the State.
Other facilitators, including Mr Unah Uchenna and Miss Lucy Uzodinma shared similar sentiments, and called for total elimination of FGM in the society.
Many of the participants described the training as enlightening and transformative, saying, it exposed them to important life lessons they had never received before. One of the girls said the programme helped her understand not only the dangers of FGM but also how to support others emotionally.
“It has educated us about what is wrong, especially about FGM and other issues affecting girls.
“We learned how to talk to people, how to empathise, how to console someone, and how to make others feel relaxed and understood,” Morrow Onisokien Burebure said.
Another participant explained that the programme went beyond discussions on harmful practices to include personal development and daily living skills.
“We learned about our values and how we should live our lives,” she said. “They taught us about menstrual hygiene, how to use sanitary materials properly, how to keep our bodies clean, wash our hands, and how to be friendly even with people we don’t know,” said Dowel Victory Bakewari of Community Secondary School, Akinima.
The participants also pledged to become advocates for change in their communities. One of them stated that she would share the knowledge gained during the training with others back home.
“I will tell people about the effects of FGM and how to stop it.We need to create awareness so that people will understand why it should not continue,” Ake Beauty enthused.
Another participant noted that the training gave her a better understanding of her body and the responsibilities that come with adolescence.
“It is good because we were taught what we need to know about our bodies as girls,” she said. We learned things we should do and things we should not do, and the dangers of FGM. I will tell people in my community that they should stop practising it,” Ebere Testimony Kenneth of Akala-Olu Community Secondary School, Ula-Upata said.
Some participants also expressed appreciation to the organisers for bringing the programme to their in communities, describing it as a life-changing opportunity. One of them simply said, “We thank the organisers for what they have done so far. They have helped us learn things that will protect our future.”
Facilitators at the programme explained that FGM remains deeply rooted in cultural traditions in some communities, which makes sustained awareness and community engagement essential. They noted that while culture plays an important role in society, harmful practices must be abandoned once they are recognised as dangerous.
According to the organisers, the programme successfully met its objectives by equipping participants with practical knowledge, leadership skills, and the confidence needed to speak out against harmful practices. They emphasised that the girls trained would serve as peer educators and change agents within their communities.
The organisers furthermore reaffirmed their commitment to continuing advocacy in efforts, strengthening girls’ clubs, and expanding grassroots awareness campaigns across Rivers State.
As the programme came to a close, the atmosphere was filled with optimism and determination. For the young participants, the training was not just an educational exercise but a call to action — one that has placed them at the forefront of effort to protect the rights, health, and future of girls in their communities.
By: Donatus Ebi
News
Rivers Government Opens Dr Peter Odili Cancer And Cardiovascular Centre, Offers Free Screening
The Rivers State Government has officially opened the Dr Peter Odili Cancer and Cardiovascular Centre in Port Harcourt for public use, commencing free screening for cancer and various cardiovascular diseases.
The disclosure was made by the Permanent Secretary of the Rivers State Ministry of Health, Professor Justinah Jumbo, during a cancer awareness walk held in Port Harcourt to mark the 2026 World Cancer Day.
The awareness walk, which began at the centre located in Rumuepirikom, formed part of activities to celebrate World Cancer Day and to sensitise residents about the availability of cancer screening and treatment services at the newly opened facility.
Professor Jumbo explained that the event was designed to inform the public that the centre is now fully operational for cancer screening and treatment. She noted that the facility, constructed by the immediate past administration in the state, is aimed at reducing the need for residents to travel abroad for cancer diagnosis and treatment.
Also speaking at the event, Permanent Secretary-designate and Director of Medical Services at the Ministry of Health, Dr. Vincent Wachuku, said the walk was not only to commemorate World Cancer Day but also to draw attention to the centre’s readiness to serve patients within and outside Rivers State.
“We are here today because it is World Cancer Day. Beyond the walk, we want to let everyone know that this centre is open and ready to provide services to people suffering from any form of cancer, whether they are from within the state, outside the state, or anywhere in the world,” he said.
Dr. Wachuku added that, as part of the launch activities, the government has approved free screening for breast cancer, cervical cancer, prostate cancer and other related conditions for an initial period. He noted that while the free services may not be permanent, future charges would be highly subsidised.
According to him, the government is also putting measures in place to support patients who may not be able to afford treatment at the centre.
The Chief Executive Officer of the facility, Tony Rahme, assured residents that the centre would provide services comparable to global standards. He stated that the hospital currently has 65 bed spaces and is staffed by a multidisciplinary team of experts from different countries, including Filipino nurses, to manage cancer and cardiovascular cases.
Rahme explained that the centre is equipped to handle advanced oncology surgeries, cardiovascular procedures, kidney treatment, cardiothoracic surgery, and a wide range of nephrology services.
He disclosed that over 70 to 100 individuals had already been screened as part of the commencement activities, reaffirming the hospital’s commitment to delivering quality healthcare services to all segments of society.
By: John Bibor
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