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Inflating Away Our Miserly Economic Gains
By Uddin Ifeanyi
Most people often set aside data because of the complexity of wrapping their heads round it. Governments, on the other hand, would rather not deal with the implications for policy, of poor data on the economy’s performance.
In the matter of domestic inflation, both of these objections are quite easily met. To understand what is afoot, just take a walk along any of our streets. And it doesn’t matter which town you pick. But there is no longer any doubt that poverty walks across Nigeria with reckless abandon. It is as much evident in the riot of young people loitering at major intersections. As it is in the increasingly elevated levels of violence, from muggings all the way through communal attacks, to wholesale, industrial, kidnappings, plaguing our diverse communities.Rising prices matter, both as cause and consequence of these. One effect of the pandemic has been the cull of jobs in contact sensitive sectors of the economy. Where those with a paying job would have been expected to see silver linings in this cloud, rising prices continue to wipe out their purchasing power. In calculating domestic inflation, the National Bureau of Statistics (NBS) tries to capture the all-in cost to the man on the street, of rising prices. As a result, food, on which people spend an increasingly large share of their earnings as one descends the income ladder, is a disproportionately large share of the official basket for computing domestic price movements.
All of which is why the northward trend of domestic prices which begun in September 2019 matters a great deal. At an average of a little under 18 per cent annually over the last five months, the headline number is clearly unsupportable if the official goal of significantly reducing the incidence of poverty is to be met. With the food component even higher (averaging a little over 22 per cent over the same period), one can only imagine how burdened the poor and vulnerable segments of our population have been of late. Should we, therefore, not welcome the moderation in prices over the last two months? According to the NBS, annual headline inflation last month (17.93 per cent) fell by 0.19 percentage points from April’s 18.12 per cent. In April, the headline trajectory bucked an 18-month trend, falling to 18.12 per cent from 18.17 per cent in March.
Because the rate at which inflation rose all through last year was pretty steep (around 100 basis points on average higher than the comparable period in 2019), most analysts had called a moderation in price rises this year. In other words, inflation would have had to rise faster than it did last year if the headline numbers were to remain elevated. In the event, the Federal Government’s decision to open the country’s land borders, and the working out of the pressure from the January 2020 increase in VAT rates, may have helped slow down the year-on-year increase.
That said, the worsening security situation may continue to tip the scales against food prices, as farmers abandon the tending of their crops for safer havens. Conversely, the Federal Government’s attempt to reform pricing in the downstream section of the oil and gas sector may further push prices up later this year. Nonetheless, we ought to take the moderating inflation rate narrative with a pinch of salt. While compared with last year’s levels, the headline inflation rate has slowed for two months back-to-back, on a monthly basis, yet the picture is less salutary. Over the April number, inflation appeared to have gone up in May ― for the headline gauge from 0.97 per cent to 1.01 per cent; for the core gauge, from 0.99 per cent to 1.24 per cent; and for the food gauge, from 0.99 per cent to 1.05 per cent.
On this evidence, it is only fair to assume that: the onus of our poor economy on the vulnerable segments of our population will continue to increase; and the riot of young unemployed persons that we see across our cities might soon become a melee. The Federal Government, on the other hand, should worry less about how adverse the numbers look because a large part of the problem is the consequence of policy failures. Take rising public debts. Ostensibly we are neck-deep in borrowing because of the Federal Government’s urgent need to strengthen public infrastructure. Yet, the pertinent question is whether the benefits from the infrastructure spend compensates for the costs over the next 20 years, of servicing and ultimately paying down the loans we have incurred. Put differently, and to take but just one example, do we think that the productivity levels from the rail infrastructure currently in place will be enough to pay the debt incurred on it?
Uddin Ifeanyi, journalist manqué and retired civil servant, can be reached @IfeanyiUddin.
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Nigeria at 66: Which Way Nigeria?
By Tochukwu Jimo Obi
Sixty six years after independence, Nigeria should be asking itself a question that can no longer be postponed: what exactly has become of the great promise of our nation? A country blessed with enormous human and natural resources should not, at this stage of its journey, still be struggling with problems that ought to have become distant memories.
As we mark 66 years of independence, this should be more than another occasion for colourful ceremonies, patriotic speeches and celebrations. It is a time for sober reflection as a people, to examine where we are, where we ought to be and, most importantly, how best to move Nigeria forward.Undoubtedly, Nigeria is not where it used to be. There have been significant developments in different sectors of the economy and society, and successive administrations have introduced policies and programmes aimed at addressing the country’s challenges. However, we must also acknowledge that we are certainly not where we ought to be, considering the enormous human and natural resources available to us. A nation blessed with abundant natural resources, a large youthful population and considerable human capital should be able to provide a higher standard of living for its citizens.
At 66, Nigeria should have no reason to still be battling with inadequate power supply, dilapidated roads, massive unemployment and widespread hunger. These are challenges that have persisted for decades, despite the huge resources committed to addressing them. While some of our past and present leaders may have done, or may still be doing, their best, the reality remains that their efforts alone have not been enough to solve the numerous problems bedevilling the nation. What Nigeria requires is sustained commitment, effective institutions, accountability and policies that go beyond individual administrations.
Corruption and insecurity also continue to pose serious challenges to national development. Resources that should be channelled towards infrastructure, education, healthcare, job creation and other essential services can be undermined by corruption and poor accountability. Similarly, insecurity discourages investment, disrupts economic activities and threatens the lives and livelihoods of citizens. We cannot continue like this as a nation. There must be a collective determination to strengthen institutions, uphold the rule of law and confront the factors that continue to undermine national development.
Unfortunately, the people themselves appear to have become accustomed to many of these perennial problems. This has contributed to a situation where some citizens fail to demand accountability from leaders or make effective use of their democratic power during elections. Democracy gives citizens the opportunity to choose their representatives and to replace those whose performance does not meet their expectations. Elections should therefore be about competence, integrity, policies and the ability to serve the public interest, rather than personal loyalty or temporary benefits.
Sycophancy has also become increasingly visible in our political space. Some people praise leaders excessively for personal gain, defend actions they would ordinarily condemn and, in some cases, sell their votes during elections, only to complain about bad leadership afterwards. Citizens must understand that leadership and followership are interconnected. When voters trade their electoral power for immediate personal benefits, they may be contributing to a system that makes it more difficult to demand responsible governance later. The ballot should be treated as an important instrument for shaping the future of the country.
As Nigeria marks this 66th anniversary, our leaders at all levels must put the interest of the nation at the centre of their decisions and actions. Religious, political and ethnic considerations should not be allowed to take precedence over the collective interest of Nigeria. Diversity should be a source of strength rather than a reason for division. Those entrusted with public office must remember that political positions are temporary, while the consequences of decisions taken in office can affect generations yet unborn.
The people also have an important role to play in moving Nigeria forward. Citizens must obey the law, reject corruption, participate responsibly in elections, demand accountability and contribute positively to their communities. Professionals must give their best in their respective fields, young people must be encouraged to pursue productive opportunities, and the private sector must continue to contribute to economic development. Nation building cannot be left entirely to government. Every Nigerian has a responsibility to contribute to the Nigeria we desire.
At 66, the question, therefore, is not simply which way Nigeria, but what kind of Nigeria do we want to leave for the next generation? The answer lies in our collective willingness to change the things that have held us back, strengthen the institutions that sustain democracy and development, and place national interest above personal, political, religious and ethnic considerations. Nigeria has the resources, talent and potential to achieve greatness. What is required is the collective will to translate that potential into reality. As we celebrate 66 years of independence, let us renew our commitment to building a peaceful, prosperous and united nation. Nigeria shall be great again.
Tochukwu Jimo Obi, Obosi Anambra state.
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Customs Recruitment: Nearly 3,000 Candidates Screened Without Casualty
By Tambaya Julius, Abuja
The Nigeria Customs Service (NCS) has concluded the final phase of its 2025 recruitment exercise, with nearly 3,000 shortlisted candidates undergoing screening in an exercise the Service said recorded improved coordination and efficiency.
The two-week exercise, held at the Training and Doctrine Command (TRADOC), Gwagwalada, Abuja, commenced on September 7 and ended on September 19, 2026.

Candidates shortlisted for the Assistant Superintendent of Customs II (ASCII), Inspectorate and Customs Assistant cadres underwent documentation, physical fitness assessments and medical screening as part of the final stages of the recruitment process.
The exercise was conducted in batches, a measure introduced by the Service to reduce congestion and ensure smoother movement of candidates through the various screening points.
Speaking on the exercise, the Assistant Comptroller-General of Customs in charge of Human Resource Development, Frank Onyeka, said the Service had addressed challenges identified during the earlier phase of the recruitment process.
According to him, measures were introduced to improve coordination and reduce congestion at the screening centres.
“We have put measures in place to reduce congestion and ensure a smoother process this week. The gaps identified last week have been addressed, and we do not expect them to recur this week,” Onyeka said.
He urged candidates to remain disciplined and comply with the procedures established for the exercise.
The Service also introduced personalised screening forms as part of efforts to strengthen verification and minimise discrepancies in candidates’ records.
The Deputy Comptroller of Customs and member of the recruitment coordinating team, Adamu Musa, said each shortlisted candidate was provided with a form containing personal information and details required for the various stages of the screening.
He said the approach represented a departure from the previous system in which candidates received forms at the screening venue.
“Any candidate that has been shortlisted has a form designed especially for him, unlike in the past where you come, they issue you a form, and then some people along the way go and even change some of the records,” Musa explained.
According to him, the forms contained candidates’ names and other details covering sports, medical assessment, documentation and related requirements.
“So, once the candidate comes, you just verify what you already have from the system,” he added.
Musa said the new arrangement had made it easier for officials to authenticate candidates’ information while reducing opportunities for alterations and discrepancies.
The recruitment team also assessed candidates against established requirements, including age, physical fitness and drug screening.
Musa disclosed that candidates who test positive for hard drugs, exceed the stipulated age requirement or are found to have physical conditions that could affect their ability to perform their duties may be disqualified, subject to the final decision of the Service’s management.
He also stressed the importance of continuous recruitment and manpower development, noting that the expanding responsibilities of the Customs Service require personnel capable of responding to emerging challenges.
According to him, a well-trained workforce remains important to the Service’s responsibilities in national security, border protection, revenue collection and trade facilitation.
The Service also warned candidates and members of the public against relying on unverified information about the recruitment exercise.
Musa urged applicants to obtain recruitment updates only through the official communication channels of the Nigeria Customs Service, including its official website and verified social media platforms.
He warned that fraudsters could exploit the recruitment process by circulating fake announcements, misleading applicants or making unauthorised demands.
The warning comes as the Service moves towards the next stages of the recruitment process following the completion of the final screening exercise.
With the introduction of personalised forms, batch screening and tighter verification procedures, the NCS said it had strengthened the process to improve efficiency, reduce congestion and protect the integrity of the recruitment exercise.
Post Recapitulation: NAICOM Holds First Quarterly Staff Meeting
By Tony Obiechina, Abuja
The Commissioner for Insurance, Olusegun Ayo Omosehin, at the weekend presided over the Quarterly Staff General Meeting of the National Insurance Commission (NAICOM), the first such gathering since the successful conclusion of the insurance industry’s recapitalization exercise.
The meeting brought together management and staff to review the achievements recorded during the recapitalization programme and to align on the Commission’s strategic direction for the period ahead.
Participants also used the occasion to discuss issues bordering on staff welfare, institutional effectiveness, and the overall growth of the organization.
In their deliberations, the Commission reaffirmed its commitment to stronger regulation and supervision of the insurance sector, continuous capacity building for staff, and sustained operational excellence.
NAICOM said in a statement on Saturday that the resolutions reached at the meeting would help drive the emergence of a more resilient, competitive, and trusted insurance industry in the country.


