Former Minister of State for Mines and Steel Development, Dr. Uchechukwu Sampson Ogah, has outlined practical solutions for tackling Nigeria’s high inflation, especially the soaring cost of goods in local markets.
Dr. Ogah observed that persistent inflation remains the greatest burden on ordinary Nigerians, eroding household incomes and weakening purchasing power. To curb this challenge, he recommended a combination of monetary discipline, aggressive agricultural investment, and stronger market regulation.
According to him, government must continue to work closely with the Central Bank to stabilize the naira, ensure prudent control of money supply, and discourage speculative hoarding of foreign exchange. He added that targeted interventions in agriculture would drastically reduce the cost of food, which accounts for the largest share of household spending.
He urged the Federal Government to scale up support for mechanized farming, irrigation projects, and storage facilities in order to reduce wastage and stabilize prices year-round. He also called for the establishment of regulated commodity boards to checkmate exploitative middlemen and ensure that farmers and consumers benefit fairly from agricultural production.
In addition, Dr. Ogah advised that the government should strengthen transportation infrastructure to ease the movement of goods across the country. Reduced logistics costs, he noted, would translate into more affordable food and household items in local markets.
Beyond inflation, Dr. Ogah commended the Federal Government for its sustained revival efforts, which he described as bold and reassuring. He pointed out visible improvements in agriculture, energy, and industrial productivity, stressing that these gains must be consolidated with further reforms.
He highlighted three critical areas for sustained growth: deliberate empowerment of small and medium-scale enterprises through access to affordable credit, accelerated completion of power and transport projects, and an aggressive push for local manufacturing to reduce overdependence on imports.
Dr. Ogah emphasized that consistency and accountability remain central to Nigeria’s economic transformation. “The revival we are witnessing is encouraging, but much more needs to be done,” he stated. “If government maintains discipline, creates the right incentives, and drives reforms with sincerity, inflation will ease, investments will flourish, and Nigerians will enjoy real prosperity.”
Reaffirming his confidence in Nigeria’s economic future, Dr. Ogah urged citizens to remain hopeful and resilient, assuring that the nation has the capacity to overcome its challenges and usher in a new era of shared prosperity
