The Archbishop of Owerri and President of the Catholic Bishops’ Conference of Nigeria (CBCN), Lucius Iwejuru Ugorji, said that, the economic reforms introduced by President Bola Ahmed Tinubu’s administration has triggered sky-rocketing inflation and pushed millions of Nigerians into poverty.
Ugorji said this at the opening session of the 2025 First Plenary Meeting of the CBCN, held at the Catholic Secretariat of Nigeria (CSN), on Sunday, in Abuja.
Speaking at the event themed ‘”Jubilee of Hope: A light for a better Nigeria, he said Nigerians have continued to endure increasing hardship on account of the harsh socio-economic situation, including high cost of petroleum products, transportation and essential goods.
“While the economic reforms introduced by President Bola Ahmed Tinubu’s administration aims at stabilising the economy on the long term, they have significantly triggered sky-rocketing inflation, drastically reduced the purchasing power of Nigerians, and plunged millions into poverty.
“The World Bank projects that 129 million Nigerians now live below the poverty line. The 2024 Global Report on Food Crisis lists Nigeria as the second globally in terms of acute food insecurity, with 24 million people categorised as food insecure. According to data drawn from the National Bureau of Statistics, food inflation hit 39.84 percent in December 2024. It is reported that Nigerians now spend about 65 percent of their income on food alone. Thus healthcare and other basic necessities are sacrificed,” Ugorji said.
He noted that government’s efforts to alleviate the sufferings of the citizenry through the distribution of palliatives, duty wavers on imported food items, and other measures have remained the tip of the iceberg.
He said while Nigerians continued to suffer and die, the resultant daily stress is having heavy tolls on the mental health of many parents as they overstretch themselves to make ends meet.
Although, he admitted that in recent times, citizens have witnessed the rehabilitation of some dilapidated roads and the construction of new ones across the nation; the introduction of the student loan scheme, the new minimum wage, and the reduction in revenue to debt servicing from 97percent to 68percent.
He said they have also learnt of some of the positive effects of the economic and fiscal reforms embarked upon by government.
He said, “Despite all these, the state of the nation remains bleak, as dark clouds of uncertainty and despondency continue to gather. In this address, I shall cast a cursory glance at four issues, including the harsh socio-economic situation of our nation, heightening insecurity, rising youth unemployment and the deplorable state of our federal correctional centres.”
On insecurity, Ugorji said that the scourge still persists, and is even getting worse across the nation as the ‘armies’ of Boko Haram, bandits, unknown gunmen continue to grow in number, as well as in acts of wickedness and barbarism.
He said kidnapping for ransom and the mindless killing of innocent people are on the rise, with the targeting of priests and religious across the county.
