Sir: The recent shocking news of a Turkey-bound businessman who excreted 120 wraps of cocaine at the Kano airport is a stark reminder of the pervasive threat of drug trafficking and abuse in Nigeria. This incident, alongside several other drug seizures by the National Drug Law Enforcement Agency (NDLEA), underscores the urgent need for a collective and proactive approach to combat the drug crisis in our society.
Drug abuse is a silent killer; it destroys lives, devastates families, and erodes entire communities. It also fuels widespread crime, violence, and corruption. The United Nations Office on Drugs and Crime (UNODC) estimates that 14.3% of Nigerians, aged 15 to 64, use psychoactive substances, with cannabis being the most commonly abused drug. This alarming statistic is a ticking time bomb that demands our immediate attention and concerted action.
But what exactly makes drug abuse so dangerous? First, it leads to addiction, which has devastating consequences for an individual’s mental and physical well-being. Addiction to drugs impairs judgment, compromises decision-making, and often results in reckless behaviour or that can lead to accidents or even fatalities. Beyond the personal consequences, drug abuse places immense financial strain on individuals and families, as addicts spend large sums to sustain their dependency. This financial ruin often forces individuals into criminal activities such as theft, robbery, kidnapping, and even banditry, further exacerbating the already fragile security situation in the country.
NDLEA has been at the forefront of efforts to curb drug trafficking and abuse in Nigeria. In the past four year, and under the leadership of Brigadier General Mohamed Buba Marwa (retd) the agency has made commendable strides. Recent seizures, such as the interception of 5.40kg of cocaine destined for Owerri, the discovery of 128 parcels of Canadian Loud hidden in mattresses at Tincan Port, and the destruction of 52,459kg of skunk in Delta and Edo forests, demonstrate the agency’s unwavering commitment to ridding Nigeria of this deadly menace. These efforts are commendable, but they also highlight the scale of the illicit drug problem we face as a country. The implication is that the fight against illicit drugs is not yet over, and there is still much more to be done.
As Nigerians, it is crucial that we take responsibility in the fight against drugs. The first step is education. We must educate ourselves, our families, and our communities about the dangers of drug abuse. Raising awareness about the signs and symptoms of addiction can empower individuals to seek help before it is too late. It is equally important to recognize the role of social support networks in helping those who are struggling with addiction. Through collaborative efforts, we can provide the necessary support to those in need.
The war on drugs cannot be won by NDLEA alone; it is a collective responsibility that requires the active participation of all Nigerians. We owe ourselves, children, and country the duty to stand together and work towards creating a safer, healthier, and more prosperous society. The fight against illicit drugs must be a priority, and it is imperative that we do everything in our power to make a difference.
Sir: From the hallowed halls of A-class events to the humble confines of Amala joint, the queue reigns supreme. It’s a national pastime, a social ritual, and, let’s be honest, a profound national predicament.
Consider the A-class event, a spectacle of champagne flutes and canapés. One might expect a certain level of decorum, perhaps even a touch of regal efficiency. But no. The buffet line, that sacred trough of culinary delights, becomes a battleground. Dignitaries, celebrities, and the crème de la crème of society, all reduced to shuffling mortals, plates in hand, eyes fixed on the jollof rice like pilgrims at a holy site. It’s a humbling experience, a reminder that in the face of free food, we are all equal.
Then there’s the fuel scarcity, a recurring national drama that plays out with the predictability of a Nollywood plot. Cars stretch for miles, forming impromptu parking lots, and tempers fray like overstretched elastic bands. It’s a national exercise in patience, or perhaps, a national exercise in masochism.
The banks, those bastions of financial probity, are no different. The ATM, a marvel of modern technology, becomes a monument to our collective frustration. We stand, we shuffle, we sigh; watching as the minutes tick by, each transaction a Herculean effort. And heaven forbid you need to see a teller; that’s a queue within a queue, a bureaucratic labyrinth designed to test the limits of human endurance.
And let’s not forget the senior citizens, those who have toiled and contributed to the nation, now forced to endure the indignity of queuing for their pensions. It’s a national disgrace, a testament to the bureaucratic ineptitude that plagues our institutions.
The cinemas, the places of worship, the airports, the immigration offices, the passport offices, the exam halls – all are united by the common thread of the queue. It’s a social equalizer, a national leveller, reminding us that no matter our status, our wealth, or our influence, we are all subject to the whims of the queue.
Even our roads are not immune. The infamous “go-slow,” a queue of cars stretching for miles, is a daily ordeal, a test of patience and a testament to our collective acceptance of gridlock as a way of life. It’s a symphony of honking horns and frustrated sighs, a mobile queue that moves at a snail’s pace.
One might argue that the queue is a symbol of our resilience, our ability to endure hardship with a stoic shrug and a wry smile. But is it really resilience, or is it a learned helplessness, a passive acceptance of inefficiency? Are we so accustomed to queuing that we’ve forgotten what it’s like to live in a system that functions efficiently?
Perhaps the queue is a reflection of our national character, a testament to our communal spirit. We queue together, we suffer together, we complain together. It’s a shared experience, a collective ordeal that binds us together. But is it a bond we should celebrate, or a symptom of a deeper malaise?
The queue, in all its forms, is a mirror to our society, reflecting our strengths and our weaknesses. It’s a reminder that we are a nation of patient people, but also a nation plagued by inefficiency. It’s a testament to our communal spirit, but also a symbol of our collective acceptance of mediocrity.
We must ask ourselves: are we destined to forever shuffle in these endless lines, or can we break free from the shackles of the queue? Can we create a system where efficiency reigns, where queues are the exception rather than the rule? Can we build a nation where the “go-slow” is a relic of the past, and the only queues we encounter are those at the gates of paradise?
Until then, we will continue to queue, to shuffle, to sigh, and to laugh at the absurdity of it all. For in Nigeria, the queue is not just a line; it’s a way of life. And perhaps, just perhaps, it’s a story we tell ourselves, a shared narrative that binds us together, even as it tests the very limits of our patience.
The question is how long do we have to stay in the queue waiting for the good of governance, the best of leadership at the very local level; when will the queues for better education, accessible healthcare be a right to every Nigerian?
Leader of United Kingdom’s opposition with Nigerian roots, Kemi Badenoch, got a taste of the inherent limitation of nativity transplant last week. She was mocked by Prime Minister Keir Starmer as having appointed herself saviour of Western civilisation in desperate search for relevance. It was an underhand. And the message: no mater how hard you fight to belong in an adopted society, you can’t belong more – nor even as well – as the natives as to obliterate your own true origin.
Badenoch is the leader of UK’s Conservative Party, which makes her effectively the shadow premier and locates her only an election away from the possibility of taking the reins. But she is controversial for her hardline stance in defence of British and, by extension, Western interests. She is notorious for talking down on Nigeria and repudiating her ancestral roots. She’s against payment of reparations to African nations by Britain and other colonial powers. She defends the British society against charges of racism and is seen by those who daily experience the ill as a tool in the hands of racist Britain to gaslight their concerns by conveying racism without having to deal with the baggage of being labelled racist, since the rhetoric has been outsourced to a Black person. Recently, she proposed prolonging years of residency required before anyone seeking British citizenship could qualify. In short, she’s been more conservatively British than ancestral Britons.
At the Prime Minister’s Questions (PMQ) time in the Commons, she sparred with Starmer on proposed increase in Britain’s defence budget. Speaking ahead of his visit to Washington to parley with US President Donald Trump, who has been pressing European leaders to increase their defence spending, Starmer announced that the UK will reallocate aid funds to boost military spending to 2.5 percent of GDP by 2027, amounting to £13.4billion. Badenoch questioned him on the exact amount that Defence Secretary John Healey said could be calculated as £6billion when inflation is factored in, to which the prime minister responded with a retort.
Upon Starmer’s pitch, Badenoch suggested he took her advice on using international aid money for defence. “Over the weekend, I suggested to the prime minister that he cut the aid budget, and I am pleased that he accepted my advice. It’s the fastest response I’ve ever had from (him),” she said. In reply, the prime minister was subtly but brutally dismissive: “I’m going to have to let the leader of the opposition down gently… She didn’t feature in my thinking at all. I was so busy over the weekend I didn’t even see her proposal,” he said, adding: “She’s appointed herself saviour of the western civilisation in a desperate search for relevance.”
Starmer has held British knighthood since 2014, even before he entered parliament. You could guess where he’s coming from with Badenoch’s alleged self-appointment as saviour of western civilisation. Cheeky nationalism!
Sir: Shortly after he was sworn in, Pressident Donald Trump announced that he was freezing funding to the United States International Development Agency (USAID) to assess programmatic efficiencies and alignment with U.S. Foreign policy. While it was recently accused of sponsoring terrorism around the world, through a multitude of partners and collaborators implementing diverse programs around the world, USAID has over the years made many invaluable contributions in social development, funding many crucial interventions around the world.
With Trump abruptly freezing funding for three months, many projects around the world have come to a grinding halt. This has also jeopardized the employment of many who counted on USAID funding to keep the critical contributions they make coming and to keep them in a job. About 28,000 health workers paid with the support of USAID have been affected by the funding freeze. The whole episode is gradually unraveling into a catastrophe.
What has also been exposed is the brutal nature and unpredictability of reliance on foreign aid in any form. It also underlines once and for all the understated importance of self-sufficiency and self-reliance for government and individuals around the world. This is doubly important in a world where the aphorism that he who pays the piper dictates the tune has never been truer.
Nigeria has been brutally affected by the USAID funding freeze. It is scrambling to absorb about 28,000 health workers whose salaries have been affected. With USAID holding Nigeria by the jugular in such a manner, Nigeria would struggle to do anything about the jarring revelation that USAID may be sponsoring terrorism in Nigeria.
The model of reliance on aid or funding for key projects and interventions has never been sustainable. It is not about to be, especially under someone as unpredictable as President Donald Trump.
Sir: Nigeria’s rich tapestry of cultures and religions has long been a source of strength and unity. However, recent debates surrounding the closure of schools during religious observances have highlighted the need for a more consistent and respectful approach to accommodating the diverse beliefs of our citizens.
In states like Bauchi, Katsina, Kano, and Kebbi, governments have announced the closure of schools for five weeks to allow Muslim students and staff to observe the holy month of Ramadan. This decision has been met with criticism from certain quarters, particularly from some Christian associations, who argue that such closures could negatively impact educational outcomes.
It’s essential to recognize that similar measures have been taken in Christian-majority states during significant Christian festivals. For instance, in December 2024, the governor of Benue State declared a two-week holiday for civil servants to celebrate Christmas and New Year. This move was widely accepted and appreciated by the predominantly Christian population of the state. Similarly, Cross River State has been declaring extended holidays for Christmas and the famous Calabar Carnival since 2004. These events are integral to the cultural and religious fabric of the region, and the state’s support underscores the importance of these celebrations to the local populace.
In a democratic nation like Nigeria, which prides itself on its secular constitution, it’s crucial to ensure that policies reflect the diverse religious practices of its citizens. If Christian-majority states can declare holidays to observe significant festivals without facing national criticism, then Muslim-majority states should be accorded the same respect and autonomy to cater to the religious needs of their communities. This equitable approach fosters mutual respect and understanding among different religious groups.
Concerns about the potential negative impact of these closures on education are valid and should be addressed. However, it’s worth noting that during such periods, alternative educational arrangements, such as condensed school hours or holiday assignments, can be implemented to ensure that students remain academically engaged. Moreover, the timing of these closures often coincides with periods when academic activities are traditionally minimal, thereby mitigating potential disruptions.
Nigeria’s strength lies in its unity amidst diversity. Respecting and accommodating the religious practices of all groups is not just a constitutional obligation but a moral imperative. As we navigate these discussions, let us be guided by the principles of fairness, equity, and mutual respect, ensuring that our policies reflect the rich tapestry of beliefs that make up our great nation.
Sir: What sounds like a dystopian movie plot is, unfortunately, a harsh reality unfolding in parts of Northern Nigeria.
The decision by some state governments to shut down schools for the entire Ramadan period is not only baffling but also deeply troubling. Even more concerning is the outright ban on extramural classes in one (?) of the states during this time.
One is forced to wonder what logic underpins this decision, and at what cost to the future of the affected children? Where else in the world is this sort of thing practiced?
At a time when Nigeria, especially northern Nigeria, is grappling with one of the highest numbers of out-of-school children globally, one would expect a more aggressive push towards improving education. Instead, some states are further worsening an already dire situation by wilfully disrupting learning. Should any serious government, aware of the long-term consequences of illiteracy, make such a choice?
For what it’s worth, the hypocrisy of this decision is glaring. How many of the enforcers of this directive have their children studying in Nigeria, let alone in these affected states? If education is so dispensable during Ramadan, why is it not dispensable for their children? Why must the children of the less privileged bear the brunt of policies that do not apply across board?
Religion is a deeply personal matter, and as former Lagos State Governor Babatunde Fashola aptly puts it, it should leave the public space and return to where it truly belongs—the home and places of worship. There is no justification for forcing educational institutions to conform to religious observances at the expense of children’s academic progress. If families choose to prioritize religious devotion over formal education, that should be a personal choice, not government imposed.
How do we hope to compete in a world where knowledge is the new currency if we continuously stifle education for non-academic reasons? Will the future of these children not be compromised by such ill-advised interruptions?
This decision sets a dangerous precedent. If education can be suspended for Ramadan, what stops future administrations from closing schools for other religious, cultural, or even political reasons? Where does the line get drawn?
The government must urgently reverse this policy. We must resist any policy that sacrifices learning opportunities for our children on the altar of religious convenience.
The world is moving forward, and we must decide whether we wish to progress with it or be left behind.
Sir: One of the main grouses of the 1999 constitution was its unrepresentativeness. The military hurriedly cobbled it together on the eve of its departure from power. The anxious civilians hungry for power, bothered less what nature of constitution was handed over to them. In more than two decades since the exit of the military, no government has deemed it necessary to try to promulgate a new constitution that would be democratic, authoritative, true and people oriented.
Successive governments since the return to democratic rule in 1999 merely engaged in the hocus-pocus of constitutional reviews which were mostly patching and surface abracadabra.
Four of such experimented reviews, namely 2005; 2014, 2020/2021 and the ongoing 2025 by the present National Assembly, observers have dismissed as merely palliative measures that will also go in the way of previous attempts. Because the 1999 constitution was the brainchild of the military in cahoots with few hired civilian experts, there is a whole gamut of constitutional deficiencies that hinder effective governance and which no amount of review can redress.
Given the history of stalled reforms, it will amount to sheer hypocrisy to expect a miracle from the current exercise, especially given the poverty of ideas that seem to characterize the deliberations of both chambers of the National Assembly.
When the late General Murtala Mohammed set up a constitution drafting committee comprising of 50 constitutional experts, whom he tagged “50 wise men”, he seemed to realize that constitution making is at the heart of good governance. Both the British and American constitutions have been on for millenniums, yet their governments have remained powerful and strong because they have constitutions that provide the leadership focus on how best to govern their countries.
No nation is governed appropriately by a trial and error constitution like the 1999 Nigerian constitution which nobody can say categorically whether it is a federal or unitary constitution.
The present government would probably have achieved better in just two years if there is a constitution that is really backing up all his reforms. Today, there is growing scepticism towards the president’s reforms because it appears he has outgrown the 1999 constitution and so is too much a hurry to transform the country.
There are no constitutional provisions in the 1999 constitution to really back up the idealistic impetus of an executive president operating a military hierarchically structured constitution.
Here then lies the debacles of the 1999 constitution and whatever gamut of reviews that are being patched here and there on the constitution. With two more years to go for the first term of President Tinubu, the onus lies on him to set up urgently a constitutional drafting committee to draft a new constitution for the country.
A new constitution that represents the aspirations and desires of the people is one of the ideas of restructuring of the country for easy and purposeful governance. With a new constitution, his second tenure 2027 – 2031 will likely be a walkover by way of achievements as there will already a constitution in place to show the way. In the words of the British jurist, Lord Denning, a constitution is a country’s stamp of authority and the very basic and fundamental of its existence as a nation with inalienable rights.
Financial exclusion remains one of the biggest economic challenges worldwide, with over 1.4 billion adults lacking access to formal banking services. The problem is particularly pronounced in emerging markets, where traditional banking infrastructure is either inaccessible or costly. However, the rise of open payment standards, particularly those built on the Interledger Protocol (ILP) and Open Payments Standards, is revolutionizing the way people interact with financial services. By offering seamless interoperability, reducing costs, and enabling cross-border transactions, open payment standards have the potential to bridge the financial divide and unlock economic opportunities for millions.
As a fintech professional and advocate for open financial ecosystems, I have actively contributed to the implementation of Open Payments through various initiatives focused on making financial transactions more accessible and inclusive for individuals, businesses, and nonprofits worldwide.
The Need for Open Payments
The current digital payment landscape is fragmented, with multiple proprietary systems creating barriers to seamless transactions. Financial institutions, fintech startups, and payment processors often operate in silos, requiring costly integrations for cross-platform transactions. This complexity leads to high fees, transaction delays, and limited accessibility for marginalized populations.
Open payment standards provide a solution by enabling seamless financial interactions between different financial institutions, digital wallets, and mobile money platforms. By standardizing how transactions are initiated, authorized, and settled, open payments ensure that individuals and businesses can send and receive funds without the need for multiple integrations.
How Open Payment Standards Work
Open payment protocols like Interledger and Open Payments function similarly to the internet, allowing different payment networks to interoperate using common standards. These standards facilitate:
Interoperability: Open Payments enable seamless transactions across banks, digital wallets, and mobile money providers, regardless of their underlying infrastructure.
Reduced Costs: By eliminating intermediaries and promoting direct transactions, open payment standards lower transaction fees, making payments more affordable.
Financial Inclusion: Individuals without traditional bank accounts can access financial services using mobile money platforms and digital wallets, helping bridge the financial divide.
Cross-Border Transactions: Open payments make it easier for businesses and individuals to transact globally without relying on costly remittance services.
Real-World Applications of Open Payments
1. Empowering the Unbanked and Underbanked
In many African and Southeast Asian countries, millions rely on mobile money services for daily transactions. By integrating open payment standards, digital wallets can offer seamless cross-platform transactions, allowing users to send and receive money without friction.
One example is the adoption of Open Payments by financial service providers, enabling users to receive payments in multiple currencies and convert them into local options such as mobile money, airtime, or gift cards. This approach significantly expands financial access to those who lack traditional banking infrastructure. Some implementations of Open Payments have processed over 100,000 transactions across 130+ countries, reducing barriers to global financial participation.
2. Enabling Small Businesses and E-commerce
For micro and small businesses, accessing digital payments often means navigating multiple payment providers and high transaction fees. Open Payments enable merchants to accept payments from multiple financial service providers through a single integration. This reduces operational costs and enhances customer convenience, leading to increased financial participation.
One example is the integration of Open Payments in online marketplaces, where sellers have seen an increase in successful cross-border transactions by 40%, enabling micro-entrepreneurs to expand their reach without being burdened by excessive fees.
3. Cross-Border Remittances
Migrant workers sending money back home often encounter high remittance fees and delays. Open Payments allow remittances to flow seamlessly between digital wallets, mobile money providers, and banks without requiring expensive third-party processing. In regions like sub-Saharan Africa, where remittance fees can exceed 8% per transaction, Open Payments have demonstrated a 30% reduction in transfer costs.
4. Web Monetization and Digital Content Payments
Content creators and digital service providers often struggle with fragmented payment options. Open payments enable seamless micropayments, allowing consumers to pay for content on a pay-per-use basis without committing to subscriptions. This innovation is particularly useful for freelancers, artists, and independent media platforms.
Driving Impact with TryOpenGiving
During #Hacktoberfest2024, the open-source community launched TryOpenGiving, a global platform designed to empower nonprofits by enabling seamless donations from supporters worldwide. As an open-source initiative, TryOpenGiving aligns with the principles of open payments by integrating multiple donation channels, including:
Card/Bank Payments
Interledger Foundation Pointers
Stablecoins
Direct Nonprofit Donation Links
Since its launch, TryOpenGiving has facilitated donations across different nonprofits, providing crucial funding to organizations making a social impact.
I played a key role in driving the onboarding of various nonprofits onto the TryOpenGiving platform, ensuring that organizations focused on economic empowerment, education, and social impact could easily receive donations and expand their reach.
Among the nonprofits I onboarded to TryOpenGiving:
Renbi Women Empowerment Initiative – Focuses on the economic empowerment of women in vulnerable communities in Nigeria. Visit Renbi Women
Gamble Alert – An independent nonprofit organization advocating for responsible gambling. Visit Gamble Alert
Despite its potential, the adoption of open payment standards faces regulatory hurdles, technological limitations, and resistance from traditional financial institutions. Governments and regulators need to establish policies that encourage interoperability while ensuring compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.
Additionally, awareness and education are crucial for fostering adoption among financial service providers and end users. Organizations like the Interledger Foundation and fintech innovators such as Chimoney, Fynbos are leading the charge in educating businesses and consumers about the benefits of open payments.
Conclusion
The future of financial inclusion lies in the widespread adoption of open payment standards. By breaking down barriers between financial service providers, reducing costs, and fostering interoperability, open payments have the power to create a truly inclusive global financial ecosystem. Governments, fintech companies, and financial institutions must collaborate to embrace these standards and drive the next wave of financial innovation.
As open payments continue to evolve, they will play a transformative role in reshaping how people access, use, and benefit from financial services, ensuring that no one is left behind in the digital economy. Through initiatives like TryOpenGiving, we are not just theorizing but actively implementing real-world solutions that align with the vision of open payments and global financial accessibility.
It is lamentable that a year after the tragic incident in which a zookeeper, Olabode Olawuyi, was attacked and killed by a lion at Obafemi Awolowo University (OAU), Ile-Ife, Osun State, the university management has not released an official report on the tragedy.
According to the chairman of the National Association of Academic Technologists (NAAT), OAU, Matthew Oluwaniyi, “Regrettably, despite marking the first anniversary of his passing, we are yet to receive the official report on the circumstances surrounding his death.” He said this at a workshop to mark the first anniversary of Olawuyi’s death. The event was held at the university and focused on “Workplace Safety Awareness.”
Importantly, he also said: “This workshop is more than just an event. It is a reminder that safety is not just a conversation but a responsibility. We must ensure that the lessons from Comrade Olawuyi’s sacrifice lead to improved policies, better protective measures, and a workplace where no staff member feels unsafe in the line of duty.”
Olawuyi, a veterinary technologist, had been in charge of the zoological garden at the university for over a decade before his death on February 19, 2024 after he was attacked by a nine-year-old male lion. He was said to have been in his fifties and in charge of wildlife care and health, and also provided research assistance. The lion was put down.
At the time, Oluwaniyi had described Olawuyi as “a hero,” adding, “he died while trying to rescue the person who was initially attacked by the lion. He gave his life to rescue his subordinate whom he was supervising.” The university’s vice-chancellor, Prof. Adebayo Simeon Bamire, ordered “a comprehensive investigation into the immediate and remote causes of the incident.” The state of the investigation is unclear.
The sad incident called for a review of zoo security at the university. The institution needed to ensure that its zoo is a secure and safe environment for both animals and people, including zookeepers and visitors. Such a review was expected to include rethinking the zoo’s enclosures, retraining the zookeepers to prevent the danger of complacency, and paying greater attention to proper feeding and care of the animals in the zoo.
The delay in releasing an official report on the tragedy based on the ordered investigation suggests that the university management has not treated the matter with the appropriate seriousness. This is a dishonour to the zookeeper who lost his life in such horrific circumstances while on duty.
Sir: When President Bola Ahmed Tinubu took office on May 29, 2023, he took a different approach to governance. Two major decisions that attracted significant criticism were the removal of the fuel subsidy and the floating of the Naira. These policies were widely seen as anti-people, as they led to significant economic hardship for many Nigerians. However, the government consistently acknowledged the difficulties faced by the populace and assured them that these measures were short-term sacrifices necessary to revive the Nigerian economy, which had been in comatose for years.
Given the failures of previous administrations, many Nigerians were sceptical about the sincerity and effectiveness of the current government’s economic reforms. Indeed, 2024 proved to be a tough year for many, with rising costs making it harder for citizens to meet their basic needs. Yet, the government showed sensitivity to the challenges, providing palliative measures such as foodstuffs, CNG buses, and conversion kits, as well as increasing the national minimum wage from N18,000 to N70,000 with state governments following suit with varying rates.
Needless to state that the economic reforms implemented by the government are grounded in proven economic theories that promote market efficiency and the optimal use of resources. The government deserves commendation for not backing down despite public outcry. These reforms have freed up resources that the government can now invest in critical sectors, which in turn fosters economic growth and national development and the country’s ability to address security challenges.
Last year, I projected that Nigeria would experience significant economic improvement in 2025, with the Naira gaining value and the price of PMS (Premium Motor Spirit, or fuel) dropping, leading to a ripple effect on the prices of goods and services. Although it is only March, early signs indicate my projection is becoming a reality. According to the National Bureau of Statistics, headline inflation dropped to 24.48% in January from 34.8% in December 2024. It is important to note that the January inflation rate was calculated using the rebased Consumer Price Index (CPI). Beyond the numbers, the Naira now exchanges for about N1,500 to the US dollar, and PMS sells for under N1,000. More importantly, food prices—the primary driver of Nigeria’s headline inflation—are beginning to drop, bringing hope and excitement to citizens.
Critics of the economic reforms are gradually being proven wrong, and some have even reversed their stance to support government policies. Therefore, Nigerians should continue to be patient, as things are expected to improve further. The Naira is anticipated to appreciate even more, and inflation to decrease. The government should remain committed to its reforms and continue engaging with Nigerians to ensure they understand government policies and their benefits.
