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World Bank: Deep structural Reforms Are Required Immediately to Help millions of Nigerians Escape Poverty

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By Derrick Bangura

Nigeria’s poverty reduction is being hindered by sluggish growth, inadequate human capital, labor market flaws, and exposure to shocks, according to the World Bank.

This was mentioned in the Washington-based organization’s latest study, “A Better Future for All Nigerians: Nigeria Poverty Assessment 2022,” which was received on Tuesday.
The report represented the culmination of the World Bank’s engagement on poverty- and inequality-relevant data and analytics in Nigeria in the past two years.

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It drew primarily on the 2018/19 Nigerian Living Standards Survey (NLSS), which provided Nigeria’s first official poverty numbers in almost a decade, as well as the Nigeria COVID-19 National Longitudinal Phone Survey (NLPS).

The surveys were implemented by Nigeria’s National Bureau of Statistics (NBS) in collaboration with the World Bank.

According to the report, which brought together the latest evidence on the profile and drivers of poverty in Nigeria, as many as four in 10 Nigerians live below the national poverty line.

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It noted that many Nigerians – especially in the country’s north – also lacked education and access to basic infrastructure, such as electricity, safe drinking water, and improved sanitation.

The report further noted that jobs do not translate Nigerians’ hard work into an exit from poverty, “as most workers are engaged in small-scale household farm and non-farm enterprises; just 17 per cent of Nigerian workers hold the wage jobs best able to lift people out of poverty.”

The report added that climate and conflict shocks – which disproportionately affect Nigeria’s poor – were multiplying, and their effects had been compounded by COVID-19; “yet government support for households was scant.”

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It added: “Households have adopted dangerous coping strategies, including reducing education and scaling back food consumption, which could have negative long-run consequences for their human capital.

“These issues affect some parts of Nigeria more than others; the report captures this spatial inequality by providing statistics at the state level, which is crucial given Nigeria’s federal structure.

“It is clear that much needs to be done to help lift millions of Nigerians out of poverty, including boosting health and education, bolstering productive jobs, and expanding social protection,” World Bank Country Director for Nigeria, Shubham Chaudhuri said.

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He added: “Yet implementing pro-poor initiatives requires unlocking fiscal space; reforming expensive subsidies – including fuel subsidies – will be essential, alongside countervailing measures to protect the poor as reforms are effected.”

The report suggested at least three types of deep, long-term reforms to foster and sustain pro-poor growth and raise Nigerians out of poverty. These included: Macroeconomic reforms (including fiscal, trade, and exchange rate policy); policies to boost the productivity of farm and non-farm household enterprises; and improving access to electricity, water, and sanitation while bolstering information and communication technologies.

“These reforms together could help diversify the economy, invigorate structural transformation, create good, productive jobs, and support social protection programs as well as other redistributive government policies.

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“The report emphasises that these reforms are urgent as Nigeria’s population continues to grow; now is the time to ensure that the country seizes the promise of its young people for economic prosperity.

“It adds that shaping the specifics of Nigeria’s poverty-reducing policies will depend strongly on redoubling efforts to gather and analyse data regularly.”

In his contribution, World Bank Lead Economist and co-author of the report, Tara Vishwanath said: “Conflict is spreading and intensifying across Nigeria, so it is important to implement programs to support poor and vulnerable Nigerians that are simple and flexible while also limiting the risk of exacerbating fragility and conflict.”

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“Data can provide vital guidance on how to design, monitor, and evaluate pro-poor projects and programs, giving a voice to poor and vulnerable Nigerians,” World Bank Economist and co-author of the report, Jonathan Lain added.

The report disclosed that new official household survey data, due to be collected later in 2022, would provide far more detailed insights into the dynamics of and the key constraints on poverty reduction, as well as new pro-poor policies.

By investing in data, Nigeria could build trust, accountability, and transparency, taking substantial strides on its pathway to poverty reduction.

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Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

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Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.

The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.

One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”

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Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.

Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.

A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”

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Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.

The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.

The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.

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NEPZA, FCT agree to create world-class FTZ environment

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NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.

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Benue IDPs block highway, demand return to ancestral homes

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Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.

The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.

The protest caused disruption, leaving hundreds of motorists and passengers stranded.

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Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.

“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.

Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.

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Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.

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