Business
Experts Fault FG’s N5,000 Stipend
Some academics have faulted the Federal Government’s poverty alleviation programme, saying, governments past and present, had failed to effectively curb poverty in the country despite numerous promises.
The academics who spoke at the weekend during the Mohammed Mustapha Charity Academy, in Ilorin, Kwara State, said stipends would not tackle abject poverty in Nigeria.
The Dean, Faculty of Law, University of Ilorin, Dr Kayode Adam, and a professor of law with the same university’.
Muhammed Akanbi, said inspite of the various poverty alleviation programmes of previous administration,” there is still mass poverty” in the land.
They stated that though former President Olusegun Obasanjo, Umaru Yar’adua and Goodluck Jonathan promised to reduce poverty through various programmes, there was greater hardship in the country.
The first female professor of Quantity Surveying in Africa, Prof. Olubola Babalola, who was also at the event stated that though the programmes of the past administrations were well initiated, their implementation was ineffective.
“Buhari’s administration should look inward and get to the grassroots with a view to identifying the really poor people”, she said.
According to her, there was need for proper interaction with the rural populace in order to ascertain their areas of need so that such needs would be properly addressed.
“It is not by giving them stipends, let us interact with them and know their problems and how we can assist them”, she said.
She reiterated that the rural people needed to be gainfully employed, adding that it should not be in the area of the much talked about white collar jobs, but jobs that they can do.
The dons further urged Buhari to ensure that his poverty alleviation and social security programmes benefit the masses.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.