…says Nigeria’s inflation rate still high
The Centre for Human Rights Advocacy and Wholesome Society (CEHRAWS), a civil rights group, has stated that Nigeria’s inflation rate is still high, despite economic growth claims by President Ahmed Tinubu-led federal government.
CEHRAWS, in a review of the 2025 Democracy Day address delivered by President Ahmed Tinubu, noted that the reported gross domestic growth (GDP) of 3.4% in 2024, with a Q4 peak of 4.6%, does not translate into real improvements for the average Nigerian.
Despite these macroeconomic figures, the group noted that unemployment remains high, while wages are stagnant and poverty levels deepening.
“As stipulated under Section 16 of the Constitution, government has a binding obligation to ensure economic policies that enhance the welfare of all citizens, not just statistical growth disconnected from people’s lived conditions”.
CEHRAWS in a statement, signed, by Okoye Chuka Peter, its executive director, stated that contrary to the assertion that inflation is easing that food inflation remains above 30% according to official data from the National Bureau of Statistics.
They noted that the continued surge in prices for basic staples, such as rice and beans exposes Nigerians to hunger, malnutrition, and deprivation, in violation of both constitutional directives and Nigeria’s obligations under Article 11 of the International Covenant on Economic, Social and Cultural Rights (ICESCR).
On exchange rate stability and debt sustainability, the group advocated that the reported stabilization of the Naira and increase in foreign reserves must be viewed alongside Nigeria’s growing external debt and heavy dependence on volatile foreign exchange inflows.
CEHRAWS, called for full transparency on the country’s debt exposure in accordance with the Fiscal Responsibility Act 2007, Section 44, which mandates prudent debt management and accountability to the Nigerian people.
On consumer credit schemes, CEHRAWS, while acknowledging the Nigerian Consumer Credit Corporation (CREDICORP) initiative, observed that its reach remains limited to a privileged fraction of the population and called for broader economic reforms, stronger regulatory frameworks, and social investment to address the systemic poverty affecting over 130 million Nigerians living below the poverty line.
On democracy, CEHRAWS reminded the government that democracy is not measured by economic statistics alone, but by adherence to the rule of law, respect for fundamental rights, judicial independence, and an open civic space.
They noted that continued incidence of police brutality, extra-judicial killings, disregard for court orders, and suppression of media freedom remain serious blots on Nigeria’s democratic credentials.
CEHRAWS, therefore called on the Federal Government to match its public declarations with concrete actions that genuinely advance human rights, justice, and the rule of law, in accordance with the Constitution and Nigeria’s international obligations.
