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UN Report Paints Blissful Picture Of Nigeria’s Economy -Economist

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A United Nations (UN) report released recently on Nigeria’s Common Country Analysis (CCA), has revealed a deeply  alienated society based on the plurality of ethnic,  religious and regional identities  that had tended to label the country’s political  existence.
Fielding questions  from journalist, in Port Harcourt,  Saturday  on the future  of Nigeria  and other issues, a renowned economist and teacher at the University of Nigeria, Nsukka, Dr. Catherine Ogubor stated that  the report which was read during a consultative conference  on the formulation of the UN Development Assistance  Framework IV (UNDAF IV) for the  South -East geo-political  zone in Awka, Anambra State, observed that for decades, various segments of Nigeria’s population had at different times expressed feelings of marginalization, of being short changed,  oppressed,  threatened, dominated,  or even targeted  for elimination.
The report, according Ogubor, also painted a dismal picture,  with most of the social indices and development in the country recording  much below  acceptable  standards.
The report which read thus, “Nigeria, with a population of over 175 million, is the most populous in Africa and the  seventh most populous in the world. Her population will be approximately 200 million by 2019 and over 400 million by 2030, becoming one of the top five  most populous countries in the world.
“Nigeria is one of the poorest and  most unequal countries  in the  world,  with over  80 million or 64  per cent of her  population  living below poverty line. The situation has not  changed  over the decades,  but increasing poverty and hunger have remained high in rural  areas, remote communities  and among  female-headed  households and these cut across the six geo-political zones, with prevalence ranging from approximately 46.9 per cent in the South-West to 74.3 per cent in  the North-West and North-East.
“In Nigeria, 37 per cent of children  under five years old were stunted, 18 per cent wasted,  29 per cent underweight and overall, only 10 per cent of children aged 6-23 months are fed  approximately  based on recommended  infant  and young children  feeding practices. “Youth unemployment which  is 42 per cent in 2016 is very high,  creating poverty, helplessness and despair and easy target from crime and terrorism. Over  10 million children  of school age were out of  school with no knowledge and skill”, she said.
As she  puts it, “Nigeria’s economy in the report is currently in a recession and it is estimated  that government  revenues have fallen by as much as 33 per cent, which has  further  political  existence need to be proactively strengthen for enduring future.”
She, however, said that since independence in 1960, Nigeria has struggled to build and sustain  national integration, stressing that the report equally recommended that transforming and diversifying Nigeria’s development  paths needed a radical  and new approach, especially by investing in people  and in a viable state for  prosperous  economy for the country.
Ogubor  also called on Nigerian leaders, politicians and other stakeholders to design  and support the joint programmes of government and the United Nations to address  good governance, peace and security in the country.

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Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

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The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.
This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire  and made available to the Tide last Friday in Portharcourt.
According to the statement,  Go-Cashless cards is at all  FAAN commercial offices and access gates of Airports in the country .
The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.
FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.
FAAN  reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.
FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.
The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.
By: Enoch Epelle
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Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

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Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).
According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.
 Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.
During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.
He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.
Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.
Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.
These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.
Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.
 This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.
It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.
It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
By: Nkpemenyie mcdominic, Lagos
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Business

President Tinubu Approves Extension Ban On Raw Shea Nut Export

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President Bola Ahmed Tinubu has approved the extension of the ban on the export of raw shea nuts for a further one year, from February 26, 2026, to February 25, 2027.
Bayo Onanuga, Special Adviser to the President on (Information and Strategy) who disclosed this on Wednesday, February 25, 2026 stressed the Federal Government remains committed to policies that promote inclusive growth, local manufacturing, and position Nigeria as a competitive participant in global agricultural value chains.
The decision underscores the administration’s commitment to advancing industrial development, strengthening domestic value addition, and supporting the objectives of the Renewed Hope Agenda.
The ban aims to deepen processing capacity within Nigeria, enhance livelihoods in shea-producing communities, and promote the growth of Nigerian exports anchored on value-added products.
To further these objectives, President Tinubu has authorised the two Ministers of the Federal Ministry of Industry, Trade and Investment, and the Presidential Food Security Coordination Unit (PFSCU), to coordinate the implementation of a unified, evidence-based national framework that aligns industrialisation, trade, and investment priorities across the shea nut value chain.
He also approved the adoption of an export framework established by the Nigerian Commodity Exchange (NCX) and the withdrawal of all waivers allowing the direct export of raw shea nuts.
The President directed that any excess supply of raw shea nuts should be exported exclusively through the NCX framework, in accordance with the approved guidelines.
By: Nkpemenyie Mcdominic, Lagos
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