By Ishaq Haruna Hardawa
The Bauchi State Government has inaugurated a Technical Working Committee on High Inflation to identify and quantify the factors contributing to the state’s reported NBS 23.67 percent inflation rate.
Inaugurating the committee in Bauchi, Governor Bala Mohammed said the decision followed a letter from the Central Bank of Nigeria (CBN) drawing the state government’s attention to the persistent high inflation rate.
The Governor, represented by the Secretary to the State Government and Chairman of the committee, Aminu Hammayo, said the rising inflation rate posed a threat to the economic gains recorded by the state.
He said the committee had been mandated to propose actionable fiscal and regulatory interventions, as well as recommend short-, medium- and long-term measures that could help reduce the inflation rate.
Governor Mohammed urged members of the committee, who he said were selected based on merit, to identify the state-specific factors driving inflation and come up with practical recommendations for addressing them.
Earlier, the Bauchi State Commissioner for Budget, Economic Planning and Multilateral Coordination, Hajiya Amina Katagum, said the committee was saddled with the responsibility of monitoring price trends, identifying the causes of inflation, providing reliable data and recommending practical measures to mitigate its impact on residents.
In his remarks, the State Statistician-General and Secretary of the committee, Dr. Salisu Ibrahim Waziri, said the committee would investigate the specific factors responsible for the high headline inflation in the state and develop sustainable solutions for consideration by the state government.
Dr. Salisu Waziri said part of the terms of reference of the committee is to recommend immediate measures, including the allocation of unoccupied government housing units, food price stabilisation, improved water and sanitation services, poverty reduction initiatives and measures to reduce transportation costs.
He disclosed that the committee was expected to submit its final report within 30 days.