Amid growing concerns over rising poverty levels in Nigeria, analysts and commentators have urged governments at all levels to prioritise production-driven economic policies rather than relying on temporary financial handouts.

The debate comes as President Bola Ahmed Tinubu continues to call on state governors to intensify efforts to tackle poverty and improve the living conditions of citizens across the country.

Observers say the real challenge lies not in policy pronouncements but in achieving measurable improvements in the lives of ordinary Nigerians.

Concerns over limited impact of public funds

Across many states, there is increasing public frustration over the perceived gap between the large monthly allocations received by governments and the economic hardship faced by citizens.

Despite billions of naira distributed through federal allocations, millions of Nigerians continue to struggle with unemployment, hunger and rising living costs.

Critics argue that the situation raises serious questions about how public funds are utilised and whether current development strategies are delivering tangible benefits.

Infrastructure projects vs economic relief

In many cases, state governments have focused heavily on large infrastructure projects such as flyovers, government buildings and monumental structures.

While these projects may symbolise development and provide political visibility, analysts say they often deliver limited immediate relief to citizens battling poverty.

According to economic observers, infrastructure development alone cannot solve widespread economic hardship if it is not accompanied by policies that stimulate productivity, employment and income generation.

Limits of cash transfers and handouts

Another area of concern is the growing reliance on cash transfer programmes and other forms of short-term financial assistance.

Although such interventions can provide temporary relief to vulnerable households, experts say they rarely address the structural causes of poverty.

In some cases, critics argue that frequent handouts may create dependency rather than empowering citizens to build sustainable livelihoods.

Learning from global experience

International development experiences suggest that large-scale poverty reduction requires long-term investment in productive sectors.

Countries such as China have significantly reduced poverty through sustained investments in industrialisation, agricultural productivity and human capital development.

Over the past four decades, China lifted more than 800 million people out of extreme poverty through coordinated economic reforms and expansion of productive industries.

Nigeria’s poverty numbers, however, have continued to rise in recent years.

Estimates indicate that the number of Nigerians living in poverty increased from about 83 million to more than 133 million within a relatively short period.

Focus on productivity and economic growth

Experts say Nigeria must adopt a strategy that emphasises security, productivity and inclusive economic growth.

Agriculture remains a critical sector where improvements in security and infrastructure could enable farmers to increase food production and incomes.

Similarly, small and medium-sized businesses require supportive policies, improved access to credit and a stable operating environment to expand and create jobs.

Youth employment is also seen as a central pillar of poverty reduction, with analysts stressing the need to transform young people from job seekers into job creators through entrepreneurship and skills development.

Call for stronger leadership and accountability

Analysts say that although the federal government can provide policy direction and financial support, the success of poverty reduction programmes will largely depend on implementation at state and local government levels.

These tiers of government are closest to citizens and have a direct role in delivering services, supporting local economies and ensuring development initiatives reach communities.

They argue that tackling poverty must go beyond political rhetoric and campaign promises.

Instead, it should be treated as a national emergency requiring coordinated policies, transparent governance and measurable results.

Ultimately, citizens expect leadership that delivers real improvements in living standards, restores economic opportunities and provides hope for a better future.

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The federal government has announced plans to involve retired military officers in community policing to reclaim areas previously controlled by terrorists and bandits.

The initiative, titled the “Reclaiming the Ungoverned Space for Economic Benefits Programme (RUSEB-P),” aims to harness the expertise of military veterans to restore security and stimulate economic development.

Minister of Defence Abubakar Badaru disclosed the initiative during a press briefing in Abuja marking the commencement of the 2026 Armed Forces Remembrance Day.

He explained that the programme will involve veterans in reinforcing local security and initiating projects in agriculture, mining, and other sectors to prevent the resurgence of insurgency while revitalizing local economies.

Badaru added that a dedicated committee is finalizing the implementation framework. He also highlighted digital initiatives to support veterans and troops, including a “Thank A Soldier” QR Code for sending messages of appreciation, and plans to review the Nigerian Legion Act, renaming it the Veterans Federation of Nigeria (VFN) to strengthen legal protections and reintegration programmes.

The minister noted that under President Tinubu’s administration, over 13,000 terrorists have been neutralized, more than 17,000 arrested, nearly 10,000 hostages rescued, and 1,900 illegal refining sites destroyed. More than 100,000 Boko Haram and ISWAP combatants and their families have surrendered, enabling displaced communities to return home.

Through these measures, the government seeks to combine security operations with socio-economic interventions, ensuring sustainable peace and development in previously unstable regions.

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A cooperative society in Kenya is a member-owned organization established to promote the social and economic interests of its members by pooling resources for mutual benefit.

The process of registering a cooperative in Kenya is guided by the Co-operative Societies Act, Cap 490, and supervised by the Commissioner for Co-operative Development under the Ministry of Co-operatives. Cooperatives operate across sectors such as agriculture, savings and credit (SACCOs), housing, manufacturing, and trade.

To legally register a cooperative, a minimum of 10 founding members is required. Each must be a Kenyan citizen aged 18 or above, possess a valid national ID and KRA PIN, and share a common economic or social goal.

Members must agree on the cooperative’s name, objectives, and leadership structure—typically including a chairperson, secretary, treasurer, and two other officials.

The registration process starts with a founding meeting, where the members adopt the name, draft bylaws, and decide on share capital and contributions. Minutes from this meeting must be signed by all attendees. The proposed name is submitted for approval to the Commissioner for Co-operative Development and reserved for 30 days.

Applicants then prepare and submit Form I (the application form), draft bylaws, a list of members, copies of IDs, meeting minutes, a business plan, and proof of office address to the County Cooperative Office, along with a registration fee of Ksh 3,000 to 5,000. Once approved, the cooperative receives a Certificate of Registration.

After registration, the cooperative must open a bank account, begin operations, recruit members, and maintain accurate financial records. It is also required to hold Annual General Meetings (AGMs), submit annual returns, and present audited financial statements to the Commissioner.

SACCOs that collect deposits must additionally register with the SACCO Societies Regulatory Authority (SASRA).

By meeting these requirements, cooperatives in Kenya can operate legally and sustainably while contributing to the country’s social and economic development.

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Across the cities and rural towns of Nigeria’s South East, imposing mansions line the streets, symbols of wealth, ambition, and migration. Yet, behind their grand gates lies silence. Many of these sprawling houses stand unoccupied, their owners living abroad or in other parts of the country, leaving behind architectural monuments to a paradox of prosperity amid economic strain.

In states like Anambra, Imo, and Abia, entire neighborhoods boast multi-million-naira homes built with funds sent from the diaspora. However, with few industries, limited local employment, and weak infrastructure, these mansions highlight the region’s uneven development. While they reflect the success of Igbo entrepreneurs abroad, they also underscore the absence of productive investment at home.

Economists argue that the phenomenon exposes Nigeria’s deeper structural imbalance where remittances often fund real estate rather than industries that create jobs or stimulate growth. The result is a landscape of luxury amid local hardship, a visual reminder of a nation grappling with inequality and misplaced priorities.

Residents say the empty homes also fuel insecurity, as abandoned buildings become targets for vandalism or squatting. Some communities are now exploring policies to tax idle properties or incentivize the conversion of these structures into schools, hotels, or commercial spaces.

In the end, the South East’s skyline tells a story that is both proud and troubling one where the success of its people abroad stands in stark contrast to the economic deficit at home.

Source: Business Day

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In a major step toward expanding financing options for Nigeria’s small and medium-sized enterprises (SMEs), the Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a Memorandum of Understanding (MoU) to facilitate long-term capital access through the Nigerian capital market.

The strategic partnership is poised to unlock alternative funding channels for over 40 million registered micro, small, and medium enterprises (MSMEs), positioning them to scale operations, create jobs, and contribute meaningfully to the Federal Government’s $1 trillion economy target.

Speaking at the MoU signing ceremony in Abuja, SEC Director-General, Dr. Emomotimi Agama, described the agreement as a pivotal move to integrate SMEs into Nigeria’s capital market ecosystem and diversify financing routes beyond traditional bank credit.

“Capital is the lifeblood of any enterprise. With over 40 million SMEs registered under SMEDAN, it’s crucial that the capital market evolves to offer them sustainable financing solutions,” Agama said. He noted that the initiative is aligned with President Bola Tinubu’s economic agenda, which emphasizes job creation, industrial expansion, and inclusive growth.

Agama further highlighted the potential for more SMEs to list on the stock exchange, democratizing ownership, deepening capital market participation, and spurring national wealth creation.

SMEDAN’s Director-General, Charles Odii, welcomed the agreement as a breakthrough for businesses struggling with limited access to affordable finance. “Capital is scarce and expensive in Nigeria. Through this collaboration, we’re opening a new financing window for medium-sized businesses. Our goal is to see at least 1,000 SMEs listed on the capital market. This will catalyze economic growth, reduce unemployment, and strengthen wealth distribution,” Odii said.

Under the terms of the MoU, the two institutions will support eligible SMEs in raising funds through equity or debt instruments in compliance with SEC regulations. The agreement also calls for joint capacity-building programs focused on financial literacy, governance, and capital market readiness.

In addition, SEC will contribute to SMEDAN’s five-year strategic plan aimed at promoting inclusive financing and SME-friendly policies. SMEDAN, in turn, will identify promising businesses and encourage their participation on regulated exchanges.

The collaboration will also facilitate the issuance of debt securities by credible SMEs to qualified investors, offering a broader range of financing options outside of traditional banking systems.

To ensure effective implementation, the MoU provides for the creation of a Joint Working Group responsible for oversight, data sharing, and compliance in line with the Nigeria Data Protection Act, 2023.

As part of the rollout, both agencies plan to convene a national SME conference, a three-day event to engage key stakeholders, deepen market awareness, and shape policy dialogue around SME financing and inclusion.

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Former Vice President Yemi Osinbajo has warned that commercial disputes in Nigeria can take nearly 13 years from filing to a final Supreme Court judgment, a delay he says threatens investment and economic growth. Speaking at the AELEX law firm’s 19th annual lecture in Lagos, Osinbajo highlighted how judicial inefficiencies, policy inconsistency, and weak enforcement have hurt investor confidence.

Citing data from the Justice Research Institute, he noted that cases spend over four years in the High Court, three years in the Court of Appeal, and more than six years at the Supreme Court. He recalled how a UK Court of Appeal once described Nigeria’s legal delays as “catastrophic.” Osinbajo also recounted how landlords in Lagos turned away from rental property investments due to endless tenant disputes and a slow judicial process.

To tackle this, he suggested reforms including digitization of courts, stronger sanctions for delays, creation of commercial courts, and limiting judicial interference in arbitration. He also called for changes to laws that hinder enforcement of judgments against government agencies.

Osinbajo further stressed that inconsistent government policies discourage both local and foreign investors. He urged cross-party collaboration to ensure policy continuity and stakeholder engagement before major reforms.

At the heart of his message was a push for people-centered governance. With nearly 70% of Nigerians under 25, he warned that failure to address youth welfare and justice would threaten national stability. He concluded by calling for unity across the executive, legislature, judiciary, and private sector to deliver meaningful reform.

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Describing Oramah as a visionary leader, President Tinubu lauded his efforts in expanding intra-African trade, streamlining payment systems, and driving critical development initiatives across the continent. “Today is your day, Prof. Oramah,” Tinubu declared. “I have the privilege of bestowing upon you one of Nigeria’s highest honours in recognition of your outstanding service the Grand Commander of the Order of the Niger.”

Under Professor Oramah’s leadership, Afreximbank’s assets grew exponentially from $5 billion to over $37 billion. His tenure saw the bank play a pivotal role in Africa’s pandemic response, providing financing for over 400 million COVID-19 vaccine doses, supporting industrialisation, and strengthening the creative economy. The president noted that Nigeria alone had benefited from more than $52 billion in support across vital sectors such as energy, infrastructure, agriculture, manufacturing, and healthcare.

Tinubu highlighted landmark projects including the Dangote and BUA Refineries, the African Medical Centre of Excellence, and the Africa Quality Assurance Centre, describing them as emblematic of Africa’s rising potential and Nigeria’s strategic importance. He further commended Nigeria’s adoption of the Pan-African Payment and Settlement System (PAPSS), a move aimed at enhancing cross-border trade and reducing dependency on foreign currencies.

Looking ahead, Tinubu announced the upcoming launch of the Africa Energy Bank, to be headquartered in Abuja with a $5 billion initial capital base, designed to finance Africa’s energy transition and support renewable energy development. Other ongoing collaborations include scaling Nigeria’s fertiliser production capacity to 7.5 million tonnes annually and advancing critical infrastructure such as the $3.5 billion Bakassi Deep Seaport.

President Tinubu underscored Afreximbank’s evolving role as more than a financier but as a strategic partner in building Africa’s economic architecture. Through initiatives like FEDA, AQAC, CANEX, and PAPSS, the bank supports African entrepreneurship, boosts quality standards, and empowers creative and export-driven industries.

Reflecting on Nigeria’s broader economic trajectory, Tinubu reiterated his administration’s commitment to difficult yet essential reforms aimed at stabilising the macroeconomy, promoting inclusive growth, and enhancing productivity. “Since May 2023, under our Renewed Hope Agenda, we have undertaken bold measures, including the removal of the fuel subsidy and unification of exchange rates, to secure a sustainable economic future for all Nigerians,” he stated.

In honoring Professor Oramah, President Tinubu not only celebrated individual excellence but also reaffirmed Nigeria’s resolve to lead in shaping Africa’s economic renaissance.

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