The Catholic Bishops’ Conference of Nigeria (CBCN) has stated that the economic reforms introduced by President Bola Ahmed Tinubu’s administration have resulted in soaring inflation, pushing millions of Nigerians further into poverty.
The Archbishop of Owerri and President of the CBCN, Lucius Iwejuru Ugorji, made this statement during the opening session of the 2025 First Plenary Meeting of the conference, held at the Catholic Secretariat of Nigeria (CSN) in Abuja on Sunday.
Speaking on the theme “Jubilee of Hope: A Light for a Better Nigeria,” Ugorji explained that Nigerians continue to endure escalating hardships due to the difficult socio-economic conditions, such as the high cost of petroleum products, transportation, and essential goods.
He said, “While the economic reforms introduced by President Bola Ahmed Tinubu’s administration aim to stabilise the economy in the long term, they have significantly triggered sky-rocketing inflation, drastically reduced the purchasing power of Nigerians, and plunged millions into poverty.”
He highlighted that, according to the World Bank, 129 million Nigerians now live below the poverty line. The 2024 Global Report on Food Crisis ranks Nigeria second globally for acute food insecurity, with 24 million people classified as food insecure. Additionally, food inflation reached 39.84% in December 2024, with Nigerians now spending around 65% of their income on food, resulting in sacrifices in healthcare and other basic needs.
Ugorji noted that although the government has made efforts to alleviate citizens’ suffering, such as distributing palliatives, offering duty waivers on imported food items, and other measures, these efforts have had minimal impact.
He also pointed out that the mental health of many citizens, particularly parents, has been severely affected by the ongoing economic strain, as they struggle to make ends meet.
Despite these challenges, Ugorji acknowledged some of the positive developments, such as the rehabilitation and construction of roads, the introduction of a student loan scheme, the new minimum wage, and a reduction in the percentage of revenue going towards debt servicing from 97% to 68%. He stated, “We have also learned of some of the positive effects of the economic and fiscal reforms embarked upon by the government.”
However, Ugorji emphasised that the state of the nation remains bleak, with rising insecurity, growing youth unemployment, and the deplorable state of federal correctional centres. He described the situation as one of deep uncertainty, with dark clouds of despondency continuing to gather.
Regarding insecurity, Ugorji lamented that the situation has worsened, with the forces of Boko Haram, bandits, and unknown gunmen continuing to grow both in numbers and in their acts of violence. He noted the increase in kidnappings for ransom and the senseless killings of innocent people, including the targeting of priests and religious figures across the country.
The President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, also spoke at the event, noting that the theme “Jubilee of Hope: A Light for a Better Nigeria” calls for a return to God, to re-establish or strengthen one’s relationship with the Creator, and to reflect on relationships with one another and the world in light of God’s will.
