
News
Food inflation hits 60.88% despite FG $3.3bn agric loan
Despite securing multilateral loans amounting to $3.334bn (N5.178tn) and attracting over $4.3bn investments to boost food production, the cost of essential staple food items skyrocketed by 60.88 per cent under the leadership of President Bola Tinubu.
When Tinubu assumed office in May 2023, food inflation was 24.82 per cent. It jumped to about 40 per cent in November 2024. This is based on data from the National Bureau of Statistics.
This is occurring as Nigerians are increasingly struggling to afford basic food items, with many households finding it difficult to make ends meet due to the sharp rise in prices.
This stark increase in food prices stands in contrast to the government’s ambitious efforts to address food security and agricultural development, raising concerns about the effectiveness of current economic policies, the impact of inflation, and the challenges in translating financial support into tangible relief for Nigerians.
Upon assumption of office in May last year, President Tinubu promised to prioritise food availability and security, stressing that the government would cultivate about 500,000 hectares of farmlands to combat hunger in the country.
“I am well aware that for some time now, the conversations and debates have centred on the rising cost of living, high inflation, which is now above 28 per cent, and the unacceptable high under-employment rate.

“To ensure constant food supply, security, and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet, and other staple crops”, Tinubu stated in his new year address amidst other commitments.
However, the spiral increase in transportation costs occasioned by the removal of fuel subsidies, massive devaluation of the naira, and ravaging insecurity have fuelled a rapid increase in the price of all food commodities over 19 months.
Data obtained from the Consumer Price Index report released by the National Bureau of Statistics between May 2023, when Tinubu assumed office, and November 2024 showed that for 14 consecutive months, Nigerians spent increasingly more money each time they visited the market to buy food items.
A breakdown showed that food inflation increased from 24.82 per cent in May 2023 to 25.25 per cent in June, 26.98 per cent in July, 29.34 per cent in August, 30.64 per cent in September, 31.52 per cent in October, 32.84 per cent in November and 33.93 in December 2023.
By January 2024, the price of food items increased to 35.41 per cent and surged further to 37.92 per cent in February, 40.01 per cent in March, 40.53 per cent in April, 40.66 per cent in May, 40.87 in June, before witnessing a drop to 39.53 per cent in July and 37.52 per cent in August due to the harvest season.
In September, the cost of food increased again to 37.77 per cent, 39.16 per cent in October, and 39.93 per cent in November, which is almost 40 per cent.
Despite the challenging situation, checks by our correspondent revealed that the government secured loans totalling $3.334bn, an equivalent of N5.178tn from the World Bank and the African Development Bank under President Tinubu’s administration to enhance agricultural production, adopt innovative farming techniques, and increase food sufficiency for Nigerians.
Analysis showed that $500m was approved by the World Bank for the Livestock Productivity and Resilience Support Project to boost livestock production and food security nationwide.
The Board of the World Bank Group approved a $500m loan to Nigeria last week Friday (December 13, 2024) to boost rural access and agricultural marketing in the country.
According to information obtained from the Washington-based institution, the loan is for the Rural Access and Agricultural Marketing Project—Scale Up.
It is designed to bridge the gap between rural communities and the broader marketplace, facilitating smoother access to agricultural markets, schools, and hospitals and promoting social cohesion among rural populations.
Similarly, the AfDB under the leadership of President Akinwumi Adesina has approved a loan facility worth $2.2bn in capital mobilisation for its transformative Special Agro-Industrial Processing Zones in Nigeria.
He said phase two is set to revolutionize Nigeria’s agricultural sector by creating agro-industrial hubs that drive productivity, enhance food security, raise living standards, and create jobs.
The programme will be implemented in states including Cross River, Imo, Ogun, Oyo, Kaduna, Kwara, Kano, and the Federal Capital Territory and will expand to an additional 24 States in Nigeria in the next three years.
In an interview with PUNCH, Adeshina said its agricultural initiatives would yield about five million metric tons of wheat, rice, cassava, and this year for the country.
Also, a loan of $134m was approved for seeds and grain production in the country in November this year.
A statement by the agriculture ministry said the fund will support farmers across the country to increase production of key staple crops, thereby improving national food security.
“The Federal Government has secured a loan facility of $134m from the African Development Bank to help farmers boost seeds and grain production in the country,” the statement read.
The government through the Ministry of Agriculture and Food Security also secured a private-sector investment commitment worth $4.3bn to advance private-sector development in fertiliser production, hybrid seed technology, and agricultural finance.
The partnership with the Fundação Getulio Vargas of Brazil will support one agribusiness in Nigeria’s 774 Local Government Areas with technical and financial resources over the next five years.
The surge in food costs underscores the complexities of managing an economy where external financial assistance and investments have yet to stabilize the market or alleviate the burden on citizens.
Stakeholders wondered the effect of the loans which are to yield expected results and drive down the cost of food items.
Analysts worry
Experts expressed skepticism about the effectiveness of the billions of naira borrowed by the Tinubu administration as agricultural loans.
The loans, intended to reduce food prices, have raised questions about their implementation and potential impact.
Associate Professor Unekwuojo Onuche of the University of Africa, Bayelsa, suggested that subsidizing farmers might not be feasible due to the large number of farmers in the country. Instead, he proposed an alternative approach:
“You increase supply so that supply increases and demand remains fairly stable. Prices will be forced to come down,” he stated.
However, he cautioned that the agricultural sector has a significant time lag, typically ranging from six months to one year, before the effects of investments become apparent.
“The fact that I have just injected the money into the sector today does not mean that farmers will begin to use it today. Farmers will need time to plan and finish up what they are doing before they start,” Onuche explained.
He also highlighted the challenge of rising fuel prices, which can offset the benefits of increased food production.
“If you are giving farmers money to expand their businesses and you are increasing the cost of production, increasing the prices of oil, and that price is touching on every other thing, I don’t think you can succeed in keeping the prices of farm outputs down by simply increasing it,” he said.
Onuche emphasized the need for a coordinated approach to addressing the complex issues affecting the agricultural sector.
“It is not a haphazard and a fire brigade approach to issues. You want to increase the prices of food by increasing production and at the same time you are increasing prices of fuel. What are we saying?” he added.
An agricultural economist at the University of Agriculture, Abeokuta, Ogun State, Tobi Awolope pointed out additional challenges in the implementation of agricultural interventions.
“Various interventions have failed because the targeted small-holder farmers are not reached. Moreover, issues around supply chain and logistics resulting from the hike in fuel price is another main reason why interventions have zero or marginal effect on food prices,” she said.
Awolope emphasised the need for transparency in allocating and selecting beneficiaries for interventions.
“In allocating and drawing out beneficiaries for interventions, there should be full transparency, ensuring that farmers who are the main players in the agri-food system are reached and not just anybody,” she said.
She also advocated for government action to reduce the cost of fuel to ease mobility challenges in the agricultural supply chain.
“Government should also subsidize the price of fuel to reduce the cost of mobility of food commodities,” Awolope suggested.
Both experts agree that without addressing these structural and logistical issues, the desired impact of agricultural loans on food prices will remain elusive. (PUNCH)

News
Bandits kidnap Sokoto Deputy Governor’s relatives, others in fresh attack
At least eight residents, including relatives of Sokoto State Deputy Governor Idris Muhammad Gobir, have been reportedly kidnapped in Garin Idi village, Sabon Birni Local Government Area of Sokoto State.
According to eyewitness accounts, the attackers arrived around 1:00am on Thursday on about eight motorcycles, shooting sporadically as they invaded the community.
The gunfire forced residents to flee into nearby bushes and other safe areas to escape.
A local source told Daily Trust that the attackers operated freely in the village for nearly two hours without any immediate security intervention.
The resident described the incident as one of the most intense attacks the community has experienced, adding that fear has become a constant part of daily life.
Another witness said the assailants initially abducted about 30 people, mostly women and children, but later released some due to limited space on their motorcycles.

Ultimately, they left with eight victims—three men and five women.
Those kidnapped were identified as Hassana Adare Maifata, Rabi Alhaji Ishaqa, Kwamuso Umar, Yar’aji Garba, Kabiru Alkasim, Sani Muazu, Jadi Alkasim (a patient), and a woman believed to be related to the deputy governor.
The attackers were also reported to have raided a phone charging shop in the village, stealing over 100 mobile phones, power banks, and about ₦40,000 in cash after the operator fled the scene.
Residents expressed deep concern over the worsening insecurity in the area, calling on authorities, including the deputy governor, to urgently intervene and strengthen security presence.
One resident lamented that despite their ties to the deputy governor, they feel abandoned in the face of repeated attacks, urging immediate action to prevent further incidents.

News
Church suspends Priest over alleged fake miracles, prophecies
The Church of Nigeria (Anglican Communion) has taken disciplinary action against a member of the clergy, Reverend Ifunaya Maduka, following allegations bordering on staged miracles and questionable prophetic activities at St Paul’s Parish, Nteje, in Anambra State.
The suspension was announced by the Diocese on the Niger under the leadership of the Bishop, Rt. Rev. Owen Nwokolo, who confirmed that the priest has been removed from his duties for a period of six months without salary while further investigations continue.
According to the church authorities, the decision followed reports that the cleric allegedly conducted arranged prophetic sessions and miracle displays involving individuals said to have been coordinated or financially induced to participate. These activities were reportedly presented to worshippers as divine interventions.
The Diocese further stated that Reverend Maduka was confronted with the allegations and, based on their account, admitted involvement in the incidents after being presented with supporting information.
The suspension was formally communicated in a letter signed by Bishop Nwokolo and dated April 27, in which the Church expressed deep concern over what it described as conduct inconsistent with the expectations of ordained ministry within the Anglican Communion.
The letter outlined that the priest’s actions raised serious concerns, including false prophecy, misuse of spiritual authority, and conduct capable of misleading members of the congregation and the wider public.

Church leadership noted that prior to the development, the cleric had been engaged on several occasions regarding his ministerial conduct and had maintained that his practices aligned with Christian doctrine and Anglican standards.
However, the Diocese said recent findings contradicted those assurances.
Describing the situation as damaging to the image of the Church, the leadership stated that the conduct had undermined trust, brought disrepute to the ministry, and created grounds for disciplinary intervention in line with ecclesiastical rules.
As part of the suspension directives, Reverend Maduka has been instructed to hand over all church property, financial records, and official documents in his possession to the appropriate parish authorities and vacate the premises within a specified timeframe.
The Church also confirmed that a disciplinary panel will be set up within the coming weeks to conduct a further review of the allegations and determine any additional measures in line with church regulations.
The Diocese concluded its communication by expressing hope for reflection and repentance, urging the suspended cleric to return to the core values of his calling and ministry.

News
Attorney General asks Court to deregister ADC, Accord, three other parties
The Attorney General of the Federation has urged the Federal High Court in Abuja to compel the Independent National Electoral Commission (INEC) to deregister five political parties, arguing that their continued existence violates constitutional provisions and undermines Nigeria’s electoral integrity.
In court filings, the Attorney General contended that unless the court intervenes, INEC would “continue to act in breach of its constitutional duty” by retaining parties that have failed to meet the minimum requirements prescribed by law.
The filing stressed that the right to associate as a political party is not absolute and must be exercised within constitutional limits. It further argued that it is in the interest of justice for the court to grant the reliefs sought by the plaintiffs.
The suit, marked FHC/ABJ/CS/2637/2026 and filed at the Abuja Judicial Division of the Federal High Court, lists the Incorporated Trustees of the National Forum of Former Legislators as the plaintiff.
The defendants include INEC as the first defendant and the Attorney General of the Federation as the second defendant, alongside five political parties: African Democratic Congress (ADC), Action Alliance (AA), Action Peoples Party (APP), Accord (A), and Zenith Labour Party (ZLP).
At the center of the issue in the case is whether INEC has a constitutional obligation to remove parties that fail to meet electoral performance thresholds set out in Section 225A of the 1999 Constitution (as amended) and reinforced by the Electoral Act 2022 and INEC’s own regulations.

The plaintiffs argue that the affected parties have persistently failed to satisfy the constitutional benchmarks required to retain their registration. These include winning at least 25 per cent of votes in a state during a presidential election or securing at least one elective seat at the national, state or local government level.
They contend that the parties performed poorly in the 2023 general elections and subsequent by-elections, failing to win seats across key tiers of government, yet continue to be recognised by INEC as eligible political platforms.
The plaintiffs maintain that this continued recognition is unlawful and undermines the integrity of Nigeria’s electoral system.
In the affidavit supporting the suit, the forum’s national coordinator, Igbokwe Raphael Nnanna, states that allowing parties that have not met constitutional requirements to remain on the register “is unconstitutional, illegal and a violation” of the governing legal framework.
The suit asks the court to declare that INEC is duty-bound to deregister such parties and to compel the commission to do so before preparations for the 2027 elections advance further.
Beyond declaratory reliefs, the plaintiffs are also seeking far-reaching orders that would bar the affected parties from participating in the next general elections or engaging in political activities such as campaigns, rallies and primaries. They further request injunctions restraining INEC from recognising or dealing with the parties in any official capacity unless and until they comply strictly with constitutional provisions.
Central to the plaintiffs’ argument is their interpretation of the law as imposing a mandatory duty on INEC. They argue that the use of the word “shall” in the Constitution leaves no room for discretion once a party fails to meet the stipulated thresholds.
In their written address, they rely on statutory provisions and judicial precedents to contend that electoral performance is an objective condition that must be enforced to maintain discipline, transparency, and accountability in the political system.
Attorney General backs plaintiff
In a notice filed pursuant to Order 15 Rule 1 of the Federal High Court (Civil Procedure) Rules, 2019, the Attorney General, who is a defendant in the suit, formally admitted the plaintiff’s case to the extent of his constitutional responsibilities.
He maintained that, as the chief law officer of the federation, he is duty-bound to defend and uphold the Constitution, including ensuring compliance with the Electoral Act and other laws governing elections in Nigeria.
The filing emphasised that the Attorney General’s role extends beyond litigation to preventive oversight, ensuring that laws are faithfully implemented to maintain public confidence in the electoral process. It described the case as a public interest litigation aimed at safeguarding democratic integrity and promoting constitutional observance.
According to the document, the Attorney General argued that citizens, including the plaintiff group, have the right to challenge constitutional breaches, particularly where electoral processes are concerned. He added that supporting such litigation aligns with his dual role as both a defender of the state and an advocate for citizens’ rights.
The submission also highlighted the broader implications of non-compliance by political parties. It argued that the continued existence of parties that fail to meet constitutional thresholds contributes to ballot congestion, increases the cost of election administration, and undermines the intent of Section 225A of the 1999 Constitution (as amended), which empowers INEC to deregister underperforming parties.
The plaintiff further contended that INEC has no residual discretion to retain parties that do not satisfy the constitutional criteria, insisting that failure to deregister them constitutes a continuing breach of constitutional duty. The suit warned that such inaction could be challenged through public interest litigation, as is the case before the court.
Additionally, the filing noted that the plaintiff, comprising former legislators, possesses the requisite standing to institute the action, having been directly involved in the enactment and oversight of Nigeria’s constitutional and electoral framework.
The Attorney General also underscored the importance of access to justice, arguing that his support for the suit would help bridge gaps faced by citizens seeking to enforce constitutional rights. He maintained that collaboration between government institutions and civic actors is essential to strengthening legal literacy, accountability, and democratic participation.
The Attorney General of the Federation is represented in the suit by a team of lawyers led by Prof. J. O. Olatoke, SAN, alongside O. J. David, U. O. Olufadi, D. O. Bamidele, V. D. Maiye, Waheed Abdulraheem and A. K. Abdulmumin, all of whom signed the court filing before the Federal High Court in Abuja.
The case, which has drawn significant attention within political and legal circles, could have far-reaching implications for Nigeria’s party system ahead of future elections, particularly if the court grants the request to compel INEC to act against the affected parties. (TRIBUNE)

-
News2 days agoHow Pastor Jerry Eze was investigated for money laundering claims — EFCC Chair, Olukoyede
-
News2 days agoTinubu names Bianca Odumegwu-Ojukwu as Minister of Foreign Affairs
-
Politics1 day agoBREAKING: Supreme Court restores David Mark-led ADC leadership
-
News1 day agoAttorney General asks Court to deregister ADC, Accord, three other parties
-
News2 days agoSupreme Court fixes Thursday for judgement on ADC leadership dispute
-
News3 days agoEffurun Shooting: Police arrest officer, assures justice
-
Politics2 days agoCourt stops INEC from recognizing congresses conducted by David Mark-led ADC
-
News3 days agoBoko Haram threatens execution of 176 Kwara abductees within one week – Monarch


