Nigeria’s Government Urged to Digitise Transit Subsidies Amid Rising Inflation
As Nigeria grapples with an inflation rate of 21.88 percent, a tech expert has called on President Bola Tinubu’s government to digitise transit subsidies as a national necessity. Kingsley Eze, Chief Executive of NAIRAXI, made this assertion in a recent interview on Arise News Business Week in Abuja, emphasizing that technology-driven transit subsidies can bring immediate relief to millions of Nigerians.
Eze’s comments come after Ngozi Okonjo-Iweala, Director General of the World Trade Centre and former Nigerian Finance Minister, advised Tinubu to prioritize policies that protect vulnerable populations from worsening economic shocks. Okonjo-Iweala noted that expanding social safety nets can spur real economic growth in Nigeria.
Reacting to Okonjo-Iweala’s advice, Eze explained that social safety net expansion must accommodate technology-driven transit subsidies. He described digitised transit subsidy intervention as “low-hanging fruit,” which is cost-effective, scalable, and capable of producing immediate results.
“Without affordable and reliable mobility, Nigerians are cut off from opportunities,” Eze said. “The daily struggle to afford transport directly impacts access to jobs, education, and healthcare. It keeps people trapped in cycles of poverty.”
According to Eze, digitising transit subsidies can be a critical step in bringing down inflation, which has been a pressing concern in Nigeria. By leveraging technology, the government can streamline the process of providing subsidies, making it more efficient and effective.
As the Nigerian government continues to navigate the complexities of economic growth and inflation, experts like Eze are emphasizing the need for innovative solutions. By prioritizing digitised transit subsidies, the government can take a crucial step towards promoting economic mobility and reducing poverty.
With millions of Nigerians relying on public transportation daily, the impact of digitised transit subsidies cannot be overstated. As the country looks to the future, it is clear that embracing technology-driven solutions will be essential in driving economic growth and promoting national development.
