By Udume Chibueze | Kaftan Television | Daybreak Africa
Nigeria Inflation Hits 24.23% in March 2025 — Experts Warn of Economic Collapse.
Economist Criticizes Federal Government Over Rising Costs and Poor Economic Policies.
Fuel Subsidy Removal: Nigerians Still Paying More as Prices Soar Across Sectors.
Public Services in Decline: How Inflation Is Crippling Health and Education in Nigeria.
Nigerians Face Shrinkflation and Soaring Food Prices Despite FG’s Economic Targets.
ABUJA, NIGERIA – As the economic climate in Nigeria grows increasingly tense, inflation continues to surge, leaving everyday Nigerians struggling under the weight of skyrocketing prices. On Daybreak Africa, Kaftan Television’s flagship morning program, hosts Miracle Odino and Yellow Joshua Deji sat down with economist and public affairs commentator Alonsus Uchain to analyze the federal government’s economic approach and its impact on ordinary citizens.
Inflation: A Nation in Crisis
According to the latest report from the National Bureau of Statistics, Nigeria’s inflation rate has spiked to 24.23% in March 2025, marking a significant rise from 23.18% in February, and representing a 3.90% month-on-month increase. Despite these alarming numbers, the federal government maintains an ambitious projection to reduce inflation to 15% by the end of 2025.
Uchain, however, expressed deep skepticism.
“The inflation rate is not just a number—it reflects what ordinary Nigerians face every day in the market. Prices are not just high; they are unbearable,” he said.
He called the government’s optimism “detached from reality,” noting that many officials who claim prices are falling rarely interact with the average citizen.
Government Spending and Economic Disconnect
A major focus of the conversation was government spending habits, which Uchain linked directly to inflationary pressures.
“Look at the budget: billions allocated to luxury cars, unnecessary foreign trips, and allowances, while education, healthcare, and job creation are underfunded,” he said.
The economist cited the controversial plan to build a new office for the Vice President, questioning its necessity in the current economic climate.
“We have poor infrastructure, bad roads, and unstable electricity. Why prioritize a VP’s new office over national development?” he asked.
Uchain further criticized the leadership for failing to lead by example. He described how officials send their children abroad for education and travel overseas for medical care while public institutions at home remain in disrepair.
Fuel Subsidy Removal: Promises Unfulfilled
The federal government’s removal of fuel subsidies in 2023 was initially praised as a bold economic move meant to save funds and reinvest in key sectors. But Uchain argued that these benefits have not materialized for the masses.
“The hardship has doubled. Transportation costs are up, food prices are up, and the naira has depreciated to around ₦1,600 per dollar,” he explained.
He urged the government to be transparent about how the savings from subsidy removal have been utilized, adding that most Nigerians are still waiting to see the promised improvements.
Shrinkflation and Corporate Exploitation
Adding to citizens’ woes is the rise of shrinkflation—a term used to describe the practice of reducing the size of products while keeping or increasing their prices.
“Consumers are being cheated. A sachet of milk that once served four now barely serves one,” Uchain noted.
He called on the government to implement policies that protect consumers from exploitative pricing and to regulate the market more effectively.
Healthcare and Education: Elitism vs Reality
Uchain decried the growing gap between elites and average Nigerians when it comes to healthcare and education. He recounted how public officials travel abroad for medical treatment while public hospitals are poorly equipped and understaffed.
“If the President, Ministers, and Governors used Nigerian hospitals, they would be forced to improve them,” he said.
On education, he questioned why children of public servants are sent abroad while Nigerian universities suffer under repeated strikes and inadequate funding.
The Role of Media and Hope for Change
Finally, Uchain emphasized the need for truthful media reporting and citizen accountability.
“Nigerians need to wake up and demand better. If we don’t ask tough questions, nothing will change,” he said.
He praised programs like Daybreak Africa for giving a platform to real discussions and urged other media outlets to do the same.
Nigeria’s economic challenges cannot be solved through optimism alone. As inflation rises and inequality deepens, citizens and analysts alike are demanding transparency, accountability, and people-centered policies. Whether the government can meet its 15% inflation target remains uncertain—but the voices of the people are growing louder by the day.
Stay with Kaftan Television and Daybreak Africa for more updates on Nigeria’s journey toward economic stability.
