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Nigerians Urges Tinubu To Implement Favourable Policies To Reduce Inflation

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Inflation

Nigerians Urges Tinubu To Implement Favourable Policies To Reduce Inflation

Nigerians urges Tinubu to implement favourable policies to reduce inflation. Many residents of Abuja told journalists Abuja on Sunday that this would lead to economic growth and stability that benefits all citizens.

Nigerians have called on the federal government to implement effective policies to reduce inflation and strengthen the economy.

Many residents of the Federal Capital Territory (FCT) told journalists in Abuja on Sunday that this would lead to economic growth and stability that benefits all citizens.

The National Bureau of Statistics (NBS) recently released the rebased Consumer Price Index Report showing Nigeria’s headline inflation for January 2025 at  24.48 per cent on a year-on-year basis.

The food inflation for January 2025 was 110.03, which resulted in a rate of 26.08 per cent on a year-on-year basis.

The NBS said the increase was mainly driven by food and non-alcoholic beverages, restaurants and, accommodation services and transport.
Kennedy Okoli, a businessman, said inflation was significantly impacting the populace, leading to heightened economic challenges.

Mr Okoli called upon the federal government to take urgent action to effectively address this critical issue with effective and sustainable policies.
He said the rebasing of the CPI was a good idea, but the results did not reflect the current realities.

“Nigerians are hungry, food and transportation costs are on the increase. It may look like things are changing on paper, but the current reality says otherwise,” he said.
Olabisi Samuel, a public servant, said inflation was still increasing, calling on the federal government’s intervention.

Ms Samuel said proper policies and reforms should be implemented to ensure the economy picks up.

“The government must show commitment to people by taking concrete steps and making immediate efforts to improve the economy, and one way is by addressing the issue of inflation,” she said.
Tunde Ajani,  an entrepreneur, said inflation was still on the increase, judging from the prices of goods and services in the market.

Mr Ajani called on the government at all levels to take proactive steps to address inflation, which he said would help reduce the burden Nigerians were facing.

“Insecurity needs to be addressed so farmers can go to their farms, and the cost of transportation needs to also be reduced,” he said.
Nura Idris, a businessman, said small businesses were significantly impacted by the rising inflation, as he called on the federal government to formulate policies to help small businesses.

Fruits market

Fruits market

Mr Nura said small businesses should be given single-digit interest loans to help their businesses stay afloat.

“The government needs to show Nigerians they are serious in addressing the issue of inflation.

“If they can do this, it will also attract investors because nobody wants to invest in an unstable economy,” he said.

Experts continue to call on the federal government to address insecurity and the cost of transportation and adopt mechanised farming to address inflation.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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