News
Rising cost of living: Nigerians bemoan unbearable hardship under Tinubu govt
Nigerians face tougher days ahead as spiralling nationwide hunger resulting from untamed inflation, food insecurity and shrinking purchasing power worsen under the President Bola Ahmed Tinubu administration.
Tinubu’s economic team, namely the Minister of Finance, Olawale Edun, the Minister of Budget and National Planning, Atiku Bagudu, the Governor of Central Bank of Nigeria, Olayemi Cardoso, look overwhelmed by the country’s challenges, with current interventions yet to address the burgeoning hardship.
This is the situation in the last eight months as Nigerians suffer the hardship created by Tinubu’s policies of fuel subsidy removal and Naira floating at the foreign exchange market.
the Naira increased to N1,534.39 per US dollar at the FMDQ foreign market on Monday from N460.702, which it traded in May last year when President Tinubu took the oath of office.
This was further worsened with the removal of fuel subsidy, which saw the price of fuel rise to over N550 per litre from N238 in May 2023.
Also, the continued soaring inflation rate stood at 28.92 per cent in December, while food inflation increased to 33.93 per cent.
Consequently, since then, the daily increase in prices of foods, goods and services has been a common slogan in marketplaces in Nigeria, which is exacerbated by the fluctuation in the forex market in a country heavily dependent on imports.
It was gathered that prices of food items have skyrocketed above 100 per cent.
For instance, the price of a 50kg bag of rice increased to N65,000 from N35,000; beans rose to N1,600 per mudu from N800, 50kg bag of garri increased to N39,500 from 22,000; a carton of noodles super back size increased to N11,140 from N6,000, 25 litres of groundnut oil rose to N57,000 from N34,000, size 3 and 4 of 1kg pampers increased to N900 from N400, a crate of egg rose to N3,700 from N2,500, 50kg bag of sugar increased to N85,000 from N40,000, while 900g loaf of bread rose to N1,200 from N500; the list is endless.
Mrs Amina Jibrin, a small-scale trader in Dawaki, Abuja, said she may be forced to quit business because she no longer makes gains.
“Every day we go to the market, the prices of items always increase. We cannot afford to buy goods in the market.
“It will be as if you went to the market and misplaced your money. I may quit my business because I no longer make any money.
A Lagos resident, Mabel Rufus, lamented that the rising prices of food items was biting hard on her family.
“Fresh Tomatoes is a no-go area. In most places, onion is three for 300, for the little sizable one. Egg, a crate is almost N4,000, something in the range of N2000 a few months ago.
“The situation is affecting us seriously. Salary can no longer cater for food, let alone other needs. We are dying in this country under Tinubu”, she said.
The International Monetary Fund, IMF, in its recent report titled ‘Review of Nigeria’s Post Financing Assessment’ by the IMF Executive Board, warned that Nigeria is experiencing a deepening economic crisis amid the rising cost of living, amplifying the plights of the citizenry.
Little wonder, Nigerians protested in Minna, Niger State and Lokoja Kogi State recently against the rising cost of living a week ago.
However, as a quick action to deter the crisis, President Tinubu, five days ago, ordered the release of 102,000 metric tonnes of rice and maize to Nigerians.
Speaking on Monday, a renowned economist and former President and Chairman of the Council of Chartered Institute of Bankers, Prof Segun Ajibola, blamed the situation on the badly skewed structure of the Nigerian economy.
The economist said that beyond rhetoric, the economy managers should immediately drive import substitution strategies to address the Nigerian economy’s challenges.
“The genesis of the current spiral inflation rests in the badly skewed structure of the Nigerian economy. An economy that is monolithic and hangs its foreign exchange earnings on a primary gift of nature- oil, is susceptible to price instability as it may not have the buffer to mellow down prices, which are said to be sticky downwards.
“The insatiable appetite for imported consumables further compounds Nigeria’s situation. Basic needs such as food, medicine, raw materials, and spares are largely imported. The local currency, the Naira, depreciates rapidly for the reasons mentioned. All these put pressure on local prices daily.
“Beyond rhetoric, the managers of the economy should drive import substitution strategies effectively. The idea of devoting much attention to sharing the available foreign exchange among contending users amid the local currency’s dwindling fortunes can only worsen matters.
“The slogan: produce what you consume, consume what you produce should graduate from paper slogan to practicality. The list of importable items to Nigeria is unwinding and needs to be tamed. India, China, Malaysia, etc, have done it successfully recently.
“In the long run, the economy needs to be restructured via diversification. Agriculture needs total overhauling to ensure food security; a new industrial policy is long overdue, while new technological innovations should be introduced to redefine all segments of the national economy.
“In all these, infractions, economic sabotage, and rent-seeking syndrome should be chased out of this fledgling national economy.
“Where caught, heavy sanctions should be applied on the offending individuals and corporate bodies”.
On his part, the CEO of SD & D Capital Management, Mr Idakolo Gbolade, said the government must consider a price-fixing policy for some food items and monitor excessive profit by traders.
He noted that the country should look inwards in the long run and ensure the agricultural revolution plan is tailored towards self-sufficiency.
He added that staple food items such as rice, beans, and millet imports should be banned.
“The rising cost of food items can be attributed to the continued depreciation of the Naira. The US dollars are exchanged on the Nigeria customs portal for $1 – N1,380; the official rate is close to that. On the black market, it is exchanged for $1- N1,470.
“The cost of food prices is directly proportional to the strength of the Naira, and most government policies are taking too long to be formulated.
“The government had directed the release of 102 million Metric tonnes of grains from the strategic grains reserve, but that measure is not enough to bring down food prices.
“The government needs to immediately implement a price-fixing policy for some food items and monitor excessive profit by traders.
“In the long run, we must look inward and ensure the agricultural revolution plan of the government is tailored towards self-sufficiency, while major staples like rice, beans, millet, etc, should be banned from being imported into the country to strengthen local production and eventual export.
“The economy needs to be diversified from being import-dependent to export-oriented to make the country recover the lost opportunities over the years”, he said.
News
FG Jails Ex-minister Mamman 75 years for N33.8bn fraud
Furthermore, the court ordered the forfeiture of various foreign currencies that were recovered from the convict, as well as four choice property in Abuja that were traced to him.
Former Minister of Power, Saleh Mamman, has been sentenced to 75 years in prison for having stole public funds totalling about ₦33.8 billion.
Mamman was sentenced on Wednesday, 13 May, 2026, by the Federal High Court sitting in Abuja.
The court, in the judgment delivered by Justice James Omotosho, convicted and sentenced him on all 12 counts of fraud and money laundering charges preferred against him by the Economic and Financial Crimes Commission (EFCC).
Whereas he was handed seven years each on 10 counts of the charge, the court jailed him for three years and two years on counts four and five of the charge.
Justice Omotosho held that the sentence should run consecutively without the option of fine except on count four which he allowed the payment of N10 million fine.
Furthermore, the court ordered the forfeiture of various foreign currencies that were recovered from the convict, as well as four choice property in Abuja that were traced to him.
..….Urges support for girl child
The wife of the President of Nigeria and Founder of the Renewed Hope Initiative, Oluremi Tinubu, has launched the “Flow with Confidence” Menstrual Hygiene Campaign Programme in Benue State, with a call for collective action towards empowering school girls through proper menstrual hygiene management and access to sanitary products.
The programme, held at the Old Banquet Hall, Government House Makurdi, was organised under the Renewed Hope Initiative with the theme, “Empowering School Girls through Menstrual Hygiene.”
In her address, delivered by the Benue State Coordinator, Office of the First Lady and Renewed Hope Initiative State Coordinator, Scholastica Ben-Sor, Senator Oluremi Tinubu said no girl should be forced to miss school because she cannot afford sanitary pads.
The First Lady described the situation where girls resort to unsafe alternatives or stay away from school during menstruation as unacceptable, especially in rural communities, stressing that the intervention was designed to restore dignity, confidence and educational continuity for young girls across the country.
She disclosed that the Renewed Hope Initiative would distribute one-year supplies of disposable sanitary pads to 370,000 school girls in rural communities nationwide, with each state and the Federal Capital Territory receiving 10,000 packs for distribution through State First Ladies and RHI Coordinators.
According to her, the initiative is aimed at supporting girls who are unable to afford sanitary products, while also promoting proper reproductive health and hygiene.
Senator Tinubu revealed that the Renewed Hope Initiative expended over N2.5 billion in procuring the customised disposable sanitary pads from a local manufacturing company, Uniglory Nigeria Limited, Ikorodu, Lagos State, and appealed to corporate organisations, agencies and well-meaning Nigerians to support the programme.
She urged Local Government Chairmen and their wives to take ownership of the intervention and ensure that the sanitary pads reach deserving girls in rural communities, warning that the items must not be sold under any circumstance.
The First Lady also called on traditional, religious and community leaders to monitor the distribution process and support efforts aimed at helping girls grow into responsible and informed adults.
Addressing the beneficiaries, she encouraged the girls to remain focused on their education, support one another and never allow stigma associated with menstruation to diminish their confidence.
“I believe in you because you are the future of this nation,” she stated, as she formally flagged off the distribution of the “Flow with Confidence” Menstrual Hygiene Packs.
Earlier in her opening remarks, Hon. Scholastica Ben-Sor welcomed participants to the programme and described the Renewed Hope Initiative as a people-oriented intervention covering health, education, agriculture, social investment and economic empowerment
She urged the participants, especially the wives of Local Government Chairmen, to pay close attention to the message of the First Lady and ensure the intervention reaches vulnerable girls at the grassroots.
Hon. Ben-Sor explained that her office had resolved to sustain the initiative annually in Benue State by complementing the sanitary pad distribution programme to reach more beneficiaries, including girls in government secondary schools, Internally Displaced Persons camps and rehabilitation centres for children with special needs.
In her remarks, wife of the Benue State Deputy Governor, Christy Sam Ode, represented by Hon. Mrs Patience Erube, described menstruation as a natural part of womanhood that should never attract shame or stigma.
She encouraged the girls to carry themselves with dignity and confidence, while paying attention to lessons on menstrual hygiene and self-care.
Different lectures and goodwill messages from health professionals and wives of chairmen of local government areas in Benue State were received at the occasion.
The event also featured an interactive session during which the school girls asked questions and sought clarifications on issues relating to menstrual hygiene, and personal safety, with the keynote speakers providing detailed responses and guidance.
The Chairman of the Independent National Electoral Commission, Joash Amupitan, has announced plans to improve healthcare services and staff welfare through the renovation of existing clinic facilities and the acquisition of a larger healthcare centre for workers of the Commission.
Prof. Amupitan made this known during the grand finale of the 2026 International Nurses Week celebration held at the INEC Headquarters in Abuja.
Speaking at the event themed “Our Nurses, Our Future: Empowered Nurses Save Lives,” the INEC Chairman disclosed that the decision followed reports on the poor state of the Commission’s clinic facilities.
According to him, due process for the renovation of the Kubwa Clinic has already commenced after an assessment report was submitted to management.
Prof. Amupitan also revealed that the Commission is making arrangements to acquire a bigger clinic facility in Area 10, Abuja, to further strengthen healthcare delivery for staff.
He stressed that the nature of INEC’s operations exposes employees to significant risks, making access to quality healthcare and welfare support essential for a productive workforce.
The INEC Chairman described nurses as the backbone of healthcare delivery and commended their dedication, professionalism, and compassion in caring for people across different sectors of society.
He assured nurses and staff of the Commission’s commitment to improving welfare despite existing challenges and urged medical personnel attached to INEC to continue monitoring the health of workers and management staff.
In her remarks, National Commissioner and Chairman of the Health and Welfare Committee, Rhoda Gumus, described nursing as a valuable profession to humanity and praised nurses for their contributions to healthcare delivery, disease prevention, and community wellbeing.
Other goodwill messages delivered at the event also highlighted the critical role nurses play in sustaining effective healthcare services.
The Registrar and Chief Executive Officer of the Nursing and Midwifery Council of Nigeria, Ndagi Alhassan, said that the theme of the 2026
celebration reflects a major policy direction aimed at strengthening the nursing profession in Nigeria.
Highlights of the ceremony included tributes to Florence Nightingale, presentation of awards to top INEC officials, and recognition of retired nurses for their meritorious service to the Commission.
FG Jails Ex-minister Mamman 75 years for N33.8bn fraud
Senator Oluremi Tinubu Flags Off Menstrual Hygiene Campaign in Benue
INEC Moves to Upgrade Staff Healthcare Facilities, Welfare
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