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Tag: poverty

  • Pathway to poverty eradication

    Pathway to poverty eradication

    By Festus Tokunbo

    President Bola Tinubu’s government unveiled its eight-point economic agenda during the first Federal Executive council meeting in August. In his economic blueprint, President Tinubu highlighted the ambitious target of removing over 100 million Nigerians out of poverty. Achieving this kind of ambitious goal requires strong institutions and policies. China successfully removed about 800 million people out of poverty within 30 years.

    When Buhari became president in 2015, the World Bank estimated there were 89 million Nigerians below the poverty line. When President Buhari completed his presidential tenure in 2023, the number of Nigerians below the poverty lines had increased to 135 million. President Buhari’s wrongheaded macroeconomic policies created about 40 million people in poverty within eight years. The failure of President Buhari’s administration was a macroeconomic failure.

    From the multidimensional poverty index study on Nigeria, it can technically be argued that the leading cause of poverty in Nigeria is monetary poverty. Monetary poverty is a direct consequence of currency crisis which is often caused by macroeconomic misalignment. So, the most effective tool to eradicate poverty in Nigeria is by consistently maintaining macroeconomic stability, which depends on promoting policies that de-dollarize the Nigerian economy.

    President Tinubu started well by implementing some economic reform policies such as the Nigerian electricity bill 2023, subsidy eradication policy and exchange-rate unification policy. But the implementation of a subsidy policy with a floating exchange rate regime has weakened the socioeconomic variables. The floating exchange rate regime has caused about 50% depreciation of the Nigerian currency to other basket of currencies and will impact the monetary poverty index in the country.

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    Addressing the poverty index in Nigeria depends so much on the macroeconomic alignment, which depends on policy coordination between the Ministry of Finance and the CBN. Basically, the failures of the President Buhari’s government are macroeconomic failures. The Ministry of Finance could not create sustainable fiscal policy regimes that improve government revenue to finance its budget. Nigeria resorted to international borrowing to finance the government budget which led to the country spending over 77% of its revenue on debt servicing. The failures of the Ministry of Finance and the CBN during President Buhari’s regime destabilized the economic and social economic variables and increased the poverty index in Nigeria.

    The success or failures of President Tinubu’s government would be principally determined by the Ministry of Finance and CBN. The CBN in the first three months of Tinubu’s government implemented wrongheaded monetary policies that led to over 50% depreciation of the currency against the dollar. This is already creating socio-economic crisis within the country. The exchange-rate has a direct influence on the consumer-price-index because Nigeria is primarily an import-based society. The smartest way to stabilise the price-level is adopting a pegged exchange-rate regime and allocate dollar supplies to the essential services and goods that are critical to Nigerian macroeconomic stability. Nigeria will not be able to generate adequate foreign currencies to supply the currency market. That’s why CBN must always promote policies to de-dollarize the Nigerian economy and stabilize the macroeconomic variables.  The CBN must resume the policy of allocating forex to importers for fuel importation to stabilize the petroleum price. The CBN also need to resume forex allocation to commercial banks with strict regulation and control to ensure transparency in the banking sectors.

    The permanent and sustainable solution to currency instability in Nigeria is local production of goods and services which will reduce the dependence on foreign goods for consumption. The Nigerian Electricity Bill 2023 will stabilise electricity production in Nigeria in the next five years, which will eventually stimulate local production, reduce importation, cause appreciation of the Nigerian currency and stabilise the macroeconomic variables.

    The CBN must revisit the Yuen/Naira currency swap that was started by the former Minister of Finance Ngozi Okonjo-Iweala meant to de-dollarize the economy, strengthen the currency and improve the Nigerians purchasing power. The government should also consider currency swaps with its top trading partners like India. The Nigerian government should facilitate its registration with BRICS to decentralise the Nigerian economy from dollar hegemony that’s destabilising the economic and socioeconomic variables.  

    The Ministry of Finance is crucial to addressing the poverty-index in Nigeria. It is therefore crucial that the finance department promote policies that improve the Internally-Generated-Revenue and engage in sustainable loan regimes. In the modern economy, governments both in developed and developing countries borrow to finance government budgets and stimulate growth. The advanced countries engage in sustainable borrowing to stimulate economic growth, but the low-income countries borrow mostly for consumption.

    During the administration of President Buhari, there were two basic loan regimes to Nigeria; there was the Western loan-regime and the Chinese loan-regime. While the Chinese loans regime were invested on capital projects like the construction of the Lekki Deep Sea Port, the interstate train system that connected the Nigerian major cities and rehabilitation of the airports, the Western loans from IMF and the World Bank were basically invested on recurrent expenditure. From the development perspective, the Chinese loans were more sustainable loans than the Western loans because the capital projects improved Nigerian Internally-Generated-Revenue that stabilised the fiscal space.

    The IMF and World Bank loans are also conditioned on market conditionalities that strengthen dollarization of the economy and destabilise the macroeconomic variables of the borrowing countries. The Ministry of Finance must critically review the Nigerian borrowing regime. The government should always engage in sustainable borrowing with less market’s conditionality. 

    The Nigerian foreign policy is among the weakest in Sub-Saharan Africa, despite being the largest population and the biggest economy in the continent. The succeeding government in Nigeria has failed to leverage on the Nigerian economic potentials to create a strong foreign policy that will improve its economic development. But, strong foreign policy is paramount to achieving economic and sustainable development. The UN Vienna Convention of 1963 on consular and diplomatic relations promotes the principle of reciprocity in states’ relations. Most developed and developing countries don’t reflect the principles of reciprocity in their bilateral relations with Nigeria. In 2022, I had a three-month research internship at the Nigerian Institute of International Affairs, Lagos. This experience made me discover the weaknesses in the Nigerian Foreign policy. The institute does organise a monthly ambassadorial forum with countries to discuss bilateral relations, represented by their Ambassador in Nigeria. During the Nigeria/Trinidad & Tobago Ambassadorial forum, the Trinidad and Tobago Ambassador to Nigeria made a brilliant presentation to the audience about the need to strengthen the economic, social, trade and tourism relations between both countries. During the questions and answers sessions, I asked the ambassador why Trinidad and Tobago requires Nigerians students to make a financial security deposit in addition to tuition-fees deposit, before they are issued a visa to study in Trinidad & Tobago. This is despite the fact that Nigeria has a flexible visa regime for the country. The ambassador confirmed that asking Nigerian students to pay security deposit in addition to tuition deposit is not proper and that he had been making an effort with the Trinidad Ministry of Foreign Affairs to review this policy. This is just a case of many cases of exploitation of the Nigerian economy by many countries. The new Minister of Foreign Affairs recalled all Nigerian ambassadors on resumption of office in September. The minister should also review the Nigerian bilateral relations with every country in the world, both the Western, Asian, Caribbean and African countries. This is because bilateral relations with most countries currently are not based on the principle of reciprocity. This is global imperialism; every country is taking advantage of the country as a result of weak foreign policies which in turn hurts the socioeconomic development.

    • Tokunbo writes from Nottingham Trent University.

  • Accelerate programmes on poverty alleviation, governors told

    Accelerate programmes on poverty alleviation, governors told

    The Former Governors Forum has urged Nigerians to continue to embrace fundamental principles of unity in diversity.

    The group said this in a statement to mark Nigeria’s 63rd Independence celebration.

    In the statement, its Chairman and former Governor of Niger State, Babangida Aliyu and Executive Secretary, Prof. Tunde Esan, urged the government to establish programmes that would alleviate poverty and enhance opportunities for Nigerians.

    The statement reads: “Former Governors Forum warmly felicitate and celebrate with all Nigerians on the occasion of the celebration of independence day. The historical journey of Nigeria and its citizens in the last 60 three years exemplifies fortitude, and defined opportunities as a nation. Tested through national trials and strengthened by a determined and enterprising populace , the history of our nation cannot easily be dismissed as bothering on mere adversities.

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    “Therefore, the national celebration of independence day which cuts across all tribes in Nigeria, reminds us of our oneness and togetherness, and the potentialities of a nation strategically placed as a beacon of hope for the black race.

    “It’s equally an opportunity for Nigerians to continue to appreciate true virtues of peace and harmony, as the nation’s journey in the last few months appropriates the fundamentals of heterogeneity with varied opinions, positions and appropriations in national discourse.”

    “As the day of the independence celebration is etched in our national memory, we use the opportunity to call on all Nigerians to continue to embrace fundamental principles of unity in diversity, and also for the government at all levels to accelerate programs that will alleviate poverty and enhance opportunities for Nigerians.”

  • Sterling Bank advocates partnerships to tackle poverty

    Sterling Bank advocates partnerships to tackle poverty

    Managing Director, Sterling Bank Limited, Abubakar Suleiman has said that collaboration and building right business relationships will help in tackling poverty in Africa.

    He spoke during the two-day Africa Social Impact Summit (ASIS), co-convened by Sterling One Foundation and the United Nations, Nigeria.

    Suleiman explained that the true essence of the summit was to ensure that at every level, the issues and challenges resulting in widespread poverty across Africa get tackled rightly and that everyone is moving in the right direction.

    “Six months from now, when we reach out to you, we want to hear that because you came here, you met someone, and you established a relationship, you rethought your approach, therefore, are getting more value from your resources, and are better at solving problems together. The only thing that matters is the relationships you form today and how these relationships transmit to a much better outcome than you had before you came here,” he said.

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    The gathering, which was held under the theme – Global Vision, Local Action: Repositioning the African Development Ecosystem for Sustainable Outcomes, was the second edition of the Africa Social Impact Summit designed to help build partnerships and galvanise investments that will ensure that Africa makes rapid progress towards achieving the Sustainable Development Goals.

    UN Resident and Humanitarian Coordinator (a.i), Nigeria, Matthias Schmale, described the summit’s timing as an opportune happenstance during a time of enormous challenges and great opportunities for Africa.

    He went on to say that the 2030 agenda is a clear framework for addressing these challenges facing Africa, which requires all of us to break free from business-as-usual approaches and move together faster.

    “Governments, NGOs, and civil society cannot tackle our current challenges alone. If we are to secure a just, sustainable world, we need a whole-of-society approach in which the private sector plays a pivotal role,” he said.

    While further stating that the promise of the 2030 Agenda is now in peril, he urged more CEOs and investors to adopt the ten principles of the UN Global Compact, hire more qualified women, and ensure that their investments focus on more than just profit to reflect social impact considerations.

    He pledged support to the Nigerian Government, citing the Cooperation Framework for Sustainable Development, which both parties have agreed to, and also called on more organizations to embrace Public-Private Partnerships to leverage the strengths and capabilities of both sectors to fast-track and scale up major development initiatives.

    The host government, represented by the Lagos State Deputy Governor, Kadri Obafemi Hamzat, welcomed this pledge and idea as he asked the private sector to take the lead in unleashing enterprise-driven innovation to create the impact ecosystem required for recovery within the state and across Africa.

    The Permanent Secretary of the Nigerian Ministry of Education, David Adejo, further echoed this sentiment as he stressed that the government cannot solely run the education sector and endorses private sector and academia partnerships to significantly restructure the curriculum and determine the kind of graduates we want. He mentioned that this was already underway with the International Finance Corporation (IFC), which has birthed entrepreneurship departments in all universities in Nigeria. Yet, there’s still a lot more to be done to help younger children.

    In her goodwill remarks,  former President of Malawi, Joyce Banda, urged the private sector in the global north to forge strong partnerships with the private sector in the global south to directly impact people within African communities.

    Remarks from the US Consul General, Mr Will Stevens, the German Consul General, Weert Börner, the Danish Consul General and Head of Trade, Mrs Jette Bjerrum, and a representative of the British High Commission, all highlighted the potential that Africa holds, especially with its human resources and the different ways each of these countries is supporting to harness these resources.

  • ‘VAT hike’ll aggravate unemployment, poverty’

    By Lucas Ajanaku

    The Association of Bureaux De Change Operators (ABCON)  at the weekend warned against the proposed increase in  Value Added Tax (VAT) to 7.2 per cent from five per cent.

    The group insisted that the increase would accentuate unemployment and promote poverty in the country.

    The group gave the warning at a forum it tagged:  ABCON  Quarterly Economic Review for Third  Quarter (Q3). It faulted the move to expand the VAT net  and hike it, arguing that it was a conflicting strategy.

    “The immediate implication is that every Nigerian will either directly or indirectly be affected by the whopping 50 per cent increase in VAT. The average VAT collection in the past six  years is about N900 billion. The revenue is shared 15 per cent to the Federal Government, 50 per cent to states and 35 per cent to LGs net of four per cent cost of collection to Federal Inland Revenue Service (FIRS).

    “But beyond the revenue increase of about 50 per cent, there will be other attendant consequences, such as higher inflation rate, interest rate hike, more unemployment and people will generally become poorer.

    “It will increase the burden on the poor and SMEs contrary to the 2017 National Tax Policy. We also believe that  seeking to expand the VAT net while also increasing VAT rate at the same time is a conflicting strategy.

    “Instead ABCON review is of the opinion that the system can generate twice as much from VAT at current rate by expanding the scope of threshold and ensuring a robust administration rather than by increasing rate. A review of VAT waivers, better policing of the border to improve import VAT collection, framework for VAT on imported services and digital economy.”

    The group also called for a downward review of the cash processing fees introduced by the Central Bank of Nigeria (CBN) under the cashless policy.

    It stressed that though  the objective of the policy is laudable, the cash processing fees will  have severe impact on small businesses across the country.

    “The policy  stipulates three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts while corporate accounts would attract five per cent processing fees for withdrawals and three per cent processing fees for lodgments of amounts above N3,000,000.

    “While the objectives of the policy are quite laudable and developmental in nature, a major observation is the consequent effect on small and medium scale business circles in Nigeria where business confidence is still largely low. Because of this,  a good volume of businesses are still largely in cash especially in the rural areas. Thus due to the likely negative effects in this critical segment of the economy,  we have recommended a lower processing fees  of between 0.5per cent to 0.75 per cent and one per cent to 1.25per cent for individual and business account holders.

    “The impact on the general economic performance and compliance to cashless policy would be observed and analysed for further amendments.”

    The group expressed concern over the rising level of the nation’s public debt, calling on the Federal Government to exercise caution and reduction in the public debt.

    In its review of the BDC subsector in Q3, the group urged BDC operators to develop strategies for attracting autonomous foreign exchange as well as for boosting inter-BDC trade  so as to reduce dependence on CBN intervention.

    “As business confidence increases within the BDC sub-sector, traders should improve on strategies to attract autonomous foreign exchange sources as against rigid concentration of CBN intervention funds,” the group said.

  • ICT and the poverty question

    SIR: If there is one thing deemed worthy of  commendation by a great number of  President Muhammadu Buhari’s followers in spite of his perceived cracked veneer of integrity in some quarters, it is saying the truth about the state of the nation,even when it is self-indicting.

    True to his mai gaskiya sobriquet, Buhari had on Monday last week lamented the degree of grinding poverty in Nigeria, stating that the elite, including himself had failed to put certain programmes that could guarantee basic education for all irrespective of their level of poverty.

    Of course, it was not his first moment of uncomfortable truth. In December 2018, Buhari informed Nigerian governors that the economy was in a bad shape, charging them to come  together, think and rethink on the way forward at a time his handlers were busy reeling out “impressive” statistics about how well the economy was doing.

    But the fulcrum of governance is the welfare of the people. No impressive statistics can take its place. Let all the economic indicators read positive, if they contrast sharply with the living conditions of the masses, it makes little sense. Buhari hit the bull’s eye in the instances aforementioned.

    Indeed,poverty crawls on all fours here. Also, it is hard to contest the fact that there is a wide gulf between our current economic realities and where we ought to be as a country. Ours is a classic case of a people surrounded by drinkable water but still thirst.

    Beyond the lamentation about an economy in a tailspin and the heavy concentration of the wretched of the earth in the most populous black country in the world, the current government must demonstrate that the political will to transform Nigeria from a mono-cultural economy to a truly heterogeneous economy by developing the right strategy to boost the revenues generated from other sectors of the economy,creating new avenues for economic growth and providing opportunities to liberate a good number of Nigerians from the dark cell of  poverty. Dishing out handouts will not cut it.

    It is true that the current government has shown some commitment in its drive to revive the agriculture sector but it can do more. With the advancement in technology changing the way we live and the black gold gradually losing its relevance, there cannot be a more auspicious time than now to invest heavily in Information and Communications Technology (ICT)  to lift Nigerians  out of poverty and change the sad narrative associated with our economy.

    Today, the first five most capitalised companies in the world – Apple, Alphabet, Microsoft, Amazon and Facebook- are technology companies. The African continent is the next frontier in terms of market size and opportunities. But the full potentials of the continent has not been deployed in terms of its ability to leapfrogging ICT capabilities.

    Truth be told, a lot of state actors are still oblivious of  the capabilities of ICT. It is evident in the paltry investment in ICT infrastructure. With a population of almost 200 million people and broadband penetration of about 33 percent, opportunities for investment, innovation and growth abound in the ICT sector.

    The growth of ICT and its contribution to Gross Domestic Product (GDP)  can be increased if there is a realisation by the Nigerian government and other African governments that every 10 percent growth in broadband penetration leads to 1.38 percent growth in GDP and also reduces youth unemployment.

    It is time and Nigeria and other African countries removed their economies from being  heavily dependent on export of oil and raw materials.We can draw inspiration from the Indian model and how the ICT industry has developed into a $100 billion industry per annum for that country.

    Back home in Africa, Nigeria can borrow a leaf from countries with a digital focus like Rwanda, Egypt, Morocco and South Africa. In Rwanda, for instance, President Paul Kagame is directly promoting the digital growth of the country, especially broadband. Government policies to promote the technology and Communications sector are also stimulating entrepreneurial creativity and growth across the economy.

    The earlier we realise that the fastest way to lift our economy and our compatriots out of poverty is to embrace ICT, the better for all of us. We must begin to develop  local capacities and come up with innovations to solve problems around the world.

     

    • Ladelokun writes from Ogun State via ladesopeladelokun@gmail.com

  • Fresh impetus to tame poverty, malnutrition

    More than 240 Nigerian children die of hunger daily, according to the United Nations Children’s Fund (UNICEF). One in three Nigerians also lives below the poverty line, with children and women more vulnerable. But an empowerment scheme to push back the scourge of malnutrition and poverty is on course. Tagged Noiler Bird Initiative, its promoters have been distributing dual purpose breed of chickens to small-holder poultry farmers, especially women across the county. Assistant Editor CHIKODI OKEREOCHA reports that with more public-private sector partnerships, the initiative could be the template to banish or, at least, significantly reduce poverty and malnutrition.

    The walked up to the stage beaming with smiles and exuding as much confidence as her new-found financial freedom could allow. The occasion was the media campaign launch of Noiler Bird Initiative in Lagos, where Mrs. Olabisi Adepoju, a retiree from Osun State, Southwest Nigeria, gleefully annlounced that her emergence as one of the beneficiaries of the empowerment initiative marked a dramatic turnaround in her life and business.

    The retiree, who could barely hold her excitement, said, for instance, that she makes between 20 and 25 per cent profit from poultry farming since she embraced the programme, which distributes dual purpose chickens with very low maintenance to women in rural areas. “As a retiree, Noiler chicken farming pays me more than putting my money in investment houses. I make more in five weeks than I made while still working,” she said

    The Noiler Bird Initiative is a private sector-led empowerment programme aimed at taming and possibly, eradicating poverty and malnutrition among rural dwellers, especially women and youths in Nigeria. The scheme is being promoted by Amo Farm Sieberer Hatchery (AFSH) Limited, an agro-allied company based in Awe, Oyo State.

    Under the initiative, dual purpose breed of chickens developed for small-holder poultry farmers are distributed to rural dwellers especially women and youths. This was aimed at addressing their challenge of food insecurity and financial dependence.

    The Noiler bird has all the attributes of a native chicken, albeit with additional benefits of faster growth, less fat, tasty meat and more eggs. They also thrive on low inputs and can adapt to any environment, while also meeting the gap of nutritional security of Nigeria and other developing countries.

    The Group Managing Director (GMD), AFSH, Dr. Ayoola Oduntan, was emphatic that the programme was the solution to poverty and malnutrition currently ravaging Nigeria and hurting her chances of meeting the United Nations (UN) Sustainable Development Goals (SDGs) and the 2030 Development Agenda.

    The SDGs are a collection of 17 global goals set by the UN General Assembly in 2015 for the year 2030. Among the 17 SDGs, ending extreme poverty is goal number one; achieving zero hunger is number two. Oduntan said the Noiler bird, which his company developed through years of research from 2003 to 2014, would held address the challenge of poverty, malnutrition, high maternal and child mortality faced essentially by women in the rural areas.

    According to him, the company’s research started when it began looking into the production of a dual purpose bird with very low maintenance, which can sustain the people and tackle the challenges they faced.

    “The initiative was developed for the grass root level in Nigeria and Africa at large. The bird is for backyard poultry production and they are developed to provide readily available source of egg and meat to tame malnutrition for households across the length and breadth of Nigeria and Africa,” he said.

    The Amo Farm GMD explained that the birds are affordable, enduring, and easy to handle. “They (Noiler birds) produce eggs four times more than their native counterparts. While the male matures to table weight of between 2.5kg 14 weeks, the native bird will take 10 months to get 1.5kg body weight,” Oduntan added.

    He reiterated that the objectives of the Noiler Bird Initiative are to curb hunger, give back impactfully and practically to the society at large; reduce maternal mortality; create additional income opportunity for women and youth in the rural areas, contribute to global food security, and encourage gender equality.

    The Nation learnt that as at March 2019, Amo Farm, in partnership with some local and international Non Governmental Organisations (NGOs) and some State Governments, has distributed over 12 million birds across the 36 states and the Federal Capital Territory. The company also targets to distribute about 10 million Noiler birds this year.

    Adepoju, who is one of the lucky beneficiaries, admitted that the Noiler birds meant financial freedom for her and other rural women across the country. “It’s a very good deal,” she said, adding that apart from being a form of nutrition to rural women, many of them have become successful poultry farmers.

    Similarly, Mrs. Comfort Shalangwa, another beneficiary from Taraba State, has never looked back since the programme came on stream. She said she has been selling Noiler chicks to Almajiri boys in Taraba State order to empower them, even as internally displaced women in Borno state are also being trained on poultry farming in a bid to restart business activities.

    But beyond empowering women and youths, Oduntan, a graduate of Veterinary Medicine, said the gesture will help ensure that the estimated 90, 000 Nigerian children or more, whom the United Nations Children Fund (UNICEF) said could die of severe malnutrition, are safe and the quality of life in the rural areas in Nigeria, especially women, was improved by enhancing their income opportunities while providing quality source of proteins for them.

    Citing UNICEF statistics, which said more than 240 Nigerian children die of hunger each day, the GMD said: “It is the duty of all of us to ensure the figure is drastically reduced. We can’t continue to approach the international community cap in hand, begging for alms when we have all it takes to curb hunger and poverty in a nation described as the giant of the continent.”

    The Chief Operating Officer (COO), AFSH, Dr. Anand Burra, expressed optimism that the initiative would help eradicate poverty and malnutrition in Nigeria, especially in the rural areas where chicken and egg are still considered luxury foods.

    Indeed, majority of poor households in Nigeria cannot afford to buy chicken and eggs. According to experts, estimate of per capita egg consumption in the country is just60 eggs/person/year, while poultry meat consumption is about 2.3 kg/person/year. This is meager compared with the recommended daily protein intake requirement per person, which is put at 20grm/person/day.

     

    Push for more partnerships to stem poverty,

    malnutrition

    Although AFSH has so far reached 12 million women across the country with its dual purpose Noiler birds, while targeting to empower 10 million others this year, the intervention is still considered a drop in the ocean. The consensus of experts is that for Nigeria to close the poverty gap and halt malnutrition, more public-private sector partnerships are required.

    This must be why Oduntan passionately called on corporate organisations and individuals to join hands and end hunger and poverty, which, according to him, have eaten deep into the fabrics of Nigeria. He warned that the scourge may consume the nation if not addressed head on.

    Noting that the success of the initiative so far was anchored in his company’s resilience to make huge impact with its goals, he said “The overall achievement of these goals will be dependent on collaboration, partnerships with institutions with the same goals, armed with the Noiler as an effective tool to surpass these goals.”

    He added that “to reach more people, we will need more institutions to join the Noiler Movement; we already staffed and equipped representatives who train and assist the women and recipients within 36 states in Nigeria and so we are equipped to produce results.”

    It is easy to see why the initiative is key to the fight against poverty and malnutrition, and why Oduntan believes that all hands must be on deck to tame the scourge. For one, the consensus of development experts is that Nigeria’s rankings on global poverty and malnutrition are scary and unenviable.

    For instance, one in three Nigerians lives below the poverty line, according to UNICEF. American research group Brookings Institution brought the reality nearer home when it said that with over 87 million people living in poverty, Nigeria has overtaken India as world’s poverty capital.

    The non-profit public policy organisation based in Washington, DC said Nigeria, as at the end of May 2018, had about 87 million people living in extreme poverty, compared with India’s 73 million. As if that was not unsettling enough for Africa’s largest and most populous economy, the report added that six Nigerians become poor every minute.

    This translates to 8, 640 Nigerians becoming poor every day. This, no doubt, explains why hunger and malnutrition have become endemic in Nigeria, with children and women said to be more vulnerable to these two greatest enemies of humanity.

    UNICEF’s Chief of Communications in Nigeria, Mr. Doune Porter, said 13 million Nigerians suffered from acute hunger in 2018 and that more than half of the population suffers hidden hunger, otherwise called malnutrition.

    The Fund also said malnutrition kills more people than some deadly diseases, with 40 per cent of infant deaths caused by malnutrition and hunger. It also said with newborn mortality rate of 29 deaths per 1, 000 births, Nigeria ranks 11th position on newborn deaths globally.

    Oduntan also said because of acute malnutrition, Nigeria’s burden of stunted growth among children is the second highest in the world. With 16.5 million affected, her burden of severe malnutrition is high, with an estimated 2.6 million children said to be malnourished.

    While these figures are no doubt, unacceptable for Africa’s largest and most populous nation desirous of joining the rest of the global community in meeting the SDGs, the consensus is that the situation has made the need for more collaborations and partnerships locally and globally more compelling.

     

  • Gani Adams, Olubadan and others charge Nigerians on poverty

    The Aare Onakakanfo (generalisimo) of Yorubaland, Gani Adams, the Olubadan of Ibadanland, Oba Saliu Adetunji, the Director General, Ekiti State Council of Arts and Culture, Mr Wale Ojo-Lanre are among the dignitaries who called for an all-encompassing approach to solving the socioeconomic challenges facing the people.

    The dignitaries made the calls in their separate remarks at a lecture and award ceremony, organised by a non-governmental organisation, Ceebee Gold Foundation International, which held at Mataan Hotel and Suites, Olorunda-Aba, Ibadan, on Sunday.

    Leading the call, the Aare Onakakanfo said spirited individuals must collaborate with government at all levels by providing help and support to the less privilege around them or support Non-Governmental Organisations established for the same purpose, if poverty must be tackled at the grassroots.

    He however challenged the government at both the federal and state levels to come up with and operate economic policies that would make it easier for the mass majority to be able to afford three square meals with better living condition.

    He described the current economic situations in the country as harsh as a result of high unemployment rate, noting that the government at all levels must do something about it urgently for the situation to abate.

    He said, “Many Nigerians live below one dollar per day. They cannot afford three square meals each day. The Federal Government and state government must rise to the situation.

    “We realised that government cannot do everything and this is why non-governmental organisations, like Ceebee Gold Foundation, Gani Adams Foundation and others have been complementing the efforts of government by helping the underprivileged in the society.

    “But government at all levels must fulfill their own parts. Jobs should be created. Infrastructural decadence should be fixed. Roads should be fixed.”

    Speaking on his passion and love for the Yoruba culture and the way to continually promote it, Adams, cautioned Yorubas within and outside the country against relegating or down playing their cultural identities wherever they are in the globe for a secured future for the Yoruba race.

    “The Yoruba sons and daughters should be proud of their culture. Your culture is your identity. They should not relegate their identity into the background. If you relegate your identity, your own children will feel inferior to identify with Yoruba identity.

    “So, let us promote our culture. I have been putting all into the promotion of Yoruba culture, and I will continue to do so. If you lose your culture, you have lost your identity.

    “It is a commendable thing to help the underprivileged. I have a foundation, Gani Adams Foundation that has been helping the underprivileged. Now, another non-governmental organisation, Ceebee Gold Foundation International, has come and has joined in helping to reduce poverty in Yorubaland and entire Nigeria.

    “I want to urge all and sundry that has been helping the underprivileged not to be discouraged. Please, continue in the good work. For those that have not been helping the underprivileged, kindly join in helping people, there are great rewards in it.”

    The Olubadan, Oba Adetunji commended Ceebee Gold Foundation for deeming it fit to locate its proposed vocational training centre in Ibadan despite the founder not been an indigene of the state.

    He prayed good success on the initiative while appealing to well-meaning individuals to give the NGO the needed support in the interest of the less privileged in the society.

    While speaking, the DG Ekiti State Council of Culture and Tourism, Mr. Wale Ojo-Lanre, said, “It is important to know that everybody can help, irrespective of financial status. Some people want to help, but they don’t know how to start. Some may be thinking that they do not have enough to help the underprivileged in the society.

    “But the truth is that you can start from your immediate community. You can adopt a neighbour of yours and empower him or her. We have varying capacities in rendering assistance.

    “If you have power to help one person do it. If your own capacity is big enough to assist 100, 200, 300, 500, 1000 and so on, please do it. By doing so, you are helping to wipe out poverty in the society.”

    The Osi Aare OnaKakanfo of Yorubaland, Otunba Gani Balogun, also said people should realise that they “don’t have to be a very rich person before you help. It is not compulsory that you should give money. You can give what you have such as the clothes, shoes, wristwatches,  and so on, that you don’t need again.

    “Some people have 1,000 wristwatches and hundreds of shoes. You can give some of them to non-governmental organisations such as Ceebee Gold Foundation International for distribution to the underprivileged in the society.”

    Delivering the public lecture entitled “Using Non-Governmental Organisation as an Instrument for Community Development: A Ceebee Gold Foundation Approach”, the guest lecturer, Mr. Wahab Yusuf, of the Department of Public Administration, The Polytechnic Ibadan, gave statistical analysis of poverty rate in Nigeria.

    He urged ‘the haves’ in the country to help the ‘have-nots’, noting that “everyone can render assistance to the underprivileged in the society.

    High point of the event was the presentation of awards and titles to the Olubadan and the Aare Onakakanfo amongst other deserving individuals who have contributed to the support of the less privileged in the society.

  • World Bank unsure of early end to extreme poverty

    The World Bank Group’s  (WBG’s ) projection to end extreme poverty in Africa is no longer feasible, its President, David Malpass, has said.

    The WBG chief, who spoke  during a press briefing yesterday at the on-going Word Bank Group/the International Monetary Fund (IMF) Spring Meetings in Washington DC,  said a combination of waning structural reforms in major economies, financial stress in some large emerging markets and elevated policy uncertainty globally have altered the bank’s earlier forecast.

    He said: “On current trends, per capita income in growth in sub-Saharan Africa as a whole is now projected to stay below one per cent until at least 2021 which elevates the risk of a further concentration of extreme poverty on the continent,”  stressing that this fact is extremely troubling because “it jeopardises the World Bank’s primary goal of ending extreme poverty by 2030.”

    On the other hand Malpass said,  “extreme poverty has dropped to 700 million globally at the last count,” saying that’s down from much higher levels in the 1990’s and 2000’s.

    Against the cheering figures reported globally, Malpass said “ the number of people living in extreme poverty is on the rise in sub-Saharan Africa,” warning that by 2030, “ nearly nine in 10 extremely poor people will be Africans, and half of the world’s poor will be living in fragile and conflict-affected settings,” adding that this calls for urgent action by countries themselves and by the global community.

    He said the WBG was now in a position, given its comfortable financial status to stand in the gap to tackle the poverty scourge.

    “Fortunately, the World Bank group is financially strong. And with the capital package which was agreed to a year ago at the Spring Meetings, and which I was proud to support, the organisation is becoming even more responsive, efficient and effective,” to address the issue, stating that the World Bank’s vision and mission is poverty reduction and it can be addressed,” he said.

    On expressed fears about  China’s  credit to sub-Saharan countries, Malpass said, debt on its own does not pose a threat, saying the danger lies In its misappropriation.

    “As far as China, and as far as the buildup of debt, let me take a second – a few moments on that.  Debt is something that helps economies grow, but if it’s not done in a transparent way, with good outcome from the build-up of debt, then you end up having it being a drag on economies.  And history is full of those situations where too much debt dragged down economies.  So what we are trying to do — and The World Bank is a key part of the Debt Transparency Project and the collection of data that has been encouraged by the G20 — and so this is a project that we are working hard on, and the keys are to have transparent disclosure of the debt as it is being created, and also then have the focus on good outcomes in terms of quality projects.”

    He said this  is critical for poor countries as they try to move forward to have the projects associated with good quality programs and full disclosure of the debt.

    So I think this is an area that bilateral donors can do much better on and it is something that the world can press on and say, look, this is the way to help countries get ahead in terms of their growth.  So it is something The World Bank will be working hard on and it is very important to those countries, too many countries.  I’ve got a statistic here: 17 African countries are already at high risk of debt distress, and that number is just growing as the new contracts come in,” pointing out that these debts aren’t sufficiently transparent.

    Malpass however praised China for hugely successfully  reducing extreme poverty, saying in China, as many as 850 million people are no longer in extreme poverty.  “And, so that’s an achievement.  China has some lessons to share and insights to share with the rest of the world,” he said

    “But, having said that, I want to also take note of our previous conversation about the need for in China’s programs abroad, the importance of transparency of the debt, of the quality of the projects, the coordination with other donors. And the reason for that is because we want the countries, the borrowing countries, to do well, to have good outcomes,” he added.

  • Youths: Buhari keen in ending corruption, poverty

    The Youth Project for the Promotion of Democracy and Good Governance (YPPDGG) has called on Nigerians to support President Muhammadu Buhari in  ridding the country of corruption and poverty.

    In a statement signed by its National Coordinator, Shuaibu Mustapha, in Kano, the group urged Nigerians to restore their confidence in the leadership of President Buhari, insisting his re-election would meant good for the country.

    The statement said:“We want … to commend Nigerians for giving President Buhari another mandate. We are not unaware of the perceived suffering of the masses. In any case, we want to urge Nigerians to remain resolute and pitch their tent with the desire of the ruling All Progressives Congress (APC) government to take our great nation to the next level.

    “President Muhammadu Buhari’s government should be appreciated in …the N-Power programme, which has directly and indirectly touched … youths. In spite of the undue propanganda being peddled by the opposition, Buhari’s government has recorded achievements in agriculture, infrastructural development, power and technology.

    “We have observed the… efforts being put in place by the Minister of Science and Technology …Dr. Christopher Ogbonnaya Onu, which has continued to empower youths.”

    The group noted that “the Ministry of Science and Technology under Ogbonnaya Onu  has remained committed towards intensifying research and innovation, as well as increase the awareness among the people in the country of the importance of science and technology to their daily needs.”

    The group also hailed President Buhari for his efforts in the fight against corruption, and called on Nigerians to lend their support in that regard.

    On insecurity, the group hailed Buhari’s resolve to stamp out terrorism, kidnapping and youth restiveness, saying Nigeria could only get better when Nigerians saw the fight against insecurity as a personal project.

  • Edosomwan: ‘NDCP will declare war on poverty’

    Dr. Johnson Edosomwan is the presidential candidate of the Nigeria Democratic Congress Party (NDCP). He visited Vintage Press Limited, publishers of The Nation, to explain his quest to be president. Dr. Edosomwan, who hails from Edo State, met with some members of the Editorial Board. Deputy Political Editor RAYMOND MORDI was there.

    At what point did you decide to contest the presidency?

    I made up my mind one morning, after I had a divine message to come back home and help my country. Here I am, trying to do just that. I have been to the North, to the East and to the West. I have seen a common thread. Quite, honestly, there is suffering in the land. Not only that; we have been embedded with a lot of corrupt practices that has permeated three generations. I have spent the past two years touring the entire nation. Everywhere I go, whether it is in the North, the East and the West, the road conditions is the same, electricity condition is the same. For instance, some of our roads are 50 or 70 years old and we are still taking those narrow roads to go from point A to point B.

    What prepared for the job of Nigeria’s presidency?

    I grew up in a very poor family. When I was two years old, my father died and my mother took ill and subsequently I became a houseboy. I worked in different places and was able to return to school, to do my WAEC. After that I was able to save about $300 with which I found my way to the United States of America. In the US, my first job was as a dishwasher; they were paying me 65 cents an hour. With this, I saved up money to go to college. From there I made my way to the Ivy League schools: from the University of Miami to Columbia University and George Washington University. I have two doctorate degrees and 18 certifications in different academic disciplines. I have also been an apostle to nations; I built churches all over the world. I have served in up to 62 countries and I have worked for every large agency in the US. I have been involved with over 45 countries, trying to help them with best practices.

    What is your vision for Nigeria?

    I have a 10-point agenda. The first is to expand the economy. We have relied on oil for too long and one of the things I will do is to expand the economy beyond oil; into manufacturing, service, healthcare, education and so on. Ninety-nine per cent of our cars are from abroad; motorcycle is from abroad and we don’t make anything anymore. A nation that does not make anything of its own will always wind up in deficit. Right now the value of the naira to the dollar is 360 to one. When I saw a publication in one of the newspapers about our deficit I was troubled. We are now indebted to many nations. After we have expanded the economy, oil will become number 10. We want to preserve those resources and we to expand the economy to provide seven million jobs per year. We have youths that have graduated 10 to 15 years ago without any job. Our goal is to create seven million jobs per year, to erase that deficit. We can do it with all the contacts we have all over the world. Our agricultural sector, I have been to all of them, met different farmers. They have nice, organic food, but there is no transportation to ship them and as a result there is no market access for them. Therefore, all the food rots away at the end of the day. Our job is not only to provide mechanized farming, but to help those people working in agriculture to expand, to where we can open new markets for them to supply their goods.

    On healthcare, we would provide a single healthcare tax system for Nigerians, through which people can have access to medical care. I have met the rich and the poor, they face similar problems. When I was in my state, the richest man there was flown to South Africa when he took ill. He even owns a university and teaching hospital, but there were no equipment and qualified doctors there to treat him. The single healthcare tax payer system would be for all Nigerians and people would be made to pay based on their income. There are only seven major healthcare issues that Nigerians have to deal with. They are: HIV, malaria, polio, diabetics, etc.

    We would deal squarely with corruption. The institution of government needs to be strengthened, to ensure that no one is above the law. Secondly, you must pay workers minimum and affordable wages that they can live on. For instance, when you are paying a police officer a salary that cannot sustain him on a monthly basis and he probably has three or four children, how do you expect him to feed his children? So, to effectively tackle corruption, you must strengthen the institution of government, pay people decent wages and give them the tools to do their job. In the kind of society we live in, less than one per cent of the population control the wealth, everybody else is in the bottom. Our goal is to create a middle class that will make this country vibrant.

    We will bring in investors to Nigeria. How are we going to do that? We will do that by creating tax incentives, by lowering the tax bracket for investors, so that they can come and invest; and providing them electricity. The reason why a lot of people have taken their business away from Nigeria is because there is no electricity to produce. The productivity of the Nigerian system today is at 15 per cent and that is the lowest productivity in the world. Our population is close to 200 million, so that productivity cannot sustain us.

    The roads that we have were not specifically analysed for the growth of our population. Some of the roads are 50 to 70 years old and we are still taking those narrow roads to go from point A to point B. We would build high-speed rails that would take you from point A to point B in few minutes. We want create electricity through solar energy, wind energy and nuclear energy for the purpose of electricity.

    Education needs to become competency based. By being competency based, I do not mean where you get a PhD on a piece of paper, but you have nothing in reality. I once met a lady who studied computer science. When I asked her what brand of programme they used in her classes, she said she has never used a computer during her classes. This is somebody that studied computer science. So, competency based means that as an electrician or an electrical engineer, I should be able to practicalise that and be able to generate the electricity that works; not just that I am an electrical engineer on paper, but I don’t know what fluorescent light means and how many wattage it produces. When I am an electrical engineer or a civil engineer, I should be able to design bridges. Right now, we have a lot of qualified people, but there are no jobs. I just met with a group of youths roaming the streets, because there are no jobs. Some of them have Masters Degrees and PhD and some of them are riding okada, just to make ends meet.

    There is serious suffering in the land. So, we are going to declare a war on poverty. In 18 months, we should be able to assess how far we have gone. That war on poverty will take people from welfare to work. We will train people and give them the skills, so that they can become self-sufficient. I was telling people, the politicians will come and give you a bag of rice, give you two or three thousand naira and then you will be happy. But they will go and loot the treasury. Then, in the next four years they will come back and do the same thing. No, people should be given a job, so that they can fend for themselves.

    In summary, my vision is to create a solid, democratic nation, with a multidimensional economy that would no longer rely solely on oil. A multidimensional economy can provide multiple millions of jobs. Doing that entails providing tax incentives to attract investors. Secondly, there is need to revise our constitution. The 1999 Constitution is biased because it was put together for us by the military. We need to get a constitution that truly represents us as a true democratic nation. That vision is to make us one of the best countries in the world, because we have the talent.

    How would you tackle the growing insecurity in the country?

    We have been toying with insecurity for a long time. National security goes beyond fighting Boko Haram. Under my administration, we will give Boko Haram two choices: We will give them the opportunity to acquire education and join the economy and become good citizens or confront them head on, if they want to fight. We will fight them with all our partners from all over the world and push them underground. Enough is enough. We have heard about people stealing the money meant to acquire weapons to fight Boko Haram; we’ve heard about herdsmen killing people because of cows. This is ironic, human beings are meant to eat cows and cows are not meant to eat human beings. Those are problems that are meant to be defined across different disciplines. We would make sure that the people that are in cow business are within their boundaries and licensed to do their job. This perpetuated crime rate needs to stop. We would decentralize the police, by allowing for the establishment of community police, which would exist side-by-side with federal police. We would begin by selecting three or four states in different geo-political zones to start the implementation and whatever lessons we learn in those states would be used to transform the entire country, so that people can live in communities that are safe. Those community police would not be controlled by the governors; they would be run by citizen-controlled board. When you have them under a citizen controlled board, which would be elected by the people, they would no longer act with impunity. This has been tried in other countries and it has worked successfully.

    As a nation of diverse people, there is the need to run an inclusive government. I was ordained at 17 and I became an apostle of nations and built churches all over the world, in addition to my professional life. I have the power to work, to being Moslems and Christians together, so that we can solve the problems together. This election is not about religion or about tribe; it is about competency and the progress that Nigeria needs to make.