Opinion
Driving Economic Growth Through SMEs
The economy is one of the factors of human development index of a nation. A productive and functional economy is a product of collaborative efforts by stakeholders. The developed and developing economies of the world are private sector, driven. This singular feat makes the private sector of countries like China, the highest employer of labour.
Even with a population of about 1.4 billion people, China, a nation without mineral resources, is a leader in the global market of electronics gadgets, handsets and several other technological devices. This most populous nation, closely followed by India, provides succour to financially distressed nations like Nigeria, the giant of Africa. How many times has Nigeria with a population eight times smaller than China obtained loan facility from China? Nigeria, with abundant human and natural resources are still under the economic tutelage of a nation that is natural resources-barren.
Nigeria is a major consumer of Made-in-China products even as Nigeria remains a commercial rendezvous of China products. While China is a leading giant in construction industry, fabrication, sea bridge and overhead and flyover construction, Nigeria has slipped into a state of comatose, technologically. What could be responsible? The answer is not far-fetched: Bad leadership. It is pertinent to state that every nation or human organisation rises or falls on leadership. Like the leader, like the nation. No nation rises above her leadership. Thus, leadership constitutes either a springboard or a cog to national development.
To say the present leadership of the country under President Muhammadu Buhari and past civilian and military administrations from 1966 have not done their best to advance the economic fortunes of this country, is uncontestable truism. Since Nigeria’s independence in 1960, there have been five military interventions in democratic governance. Between 1966 and 1999, Nigeria was ruled by military governments uninterrupted apart from a short-lived return to civilian rule under the Second Republic of 1979-1983. However, the military regimes did not contribute substantially to the economic development of the country.
From the early seventies when the naira was at par with the dollar showing Nigeria’s healthy and robust economy, to General Ibrahim Badamosi Babangida’s administration when the nation experienced a boom in oil production and sales that raked in several millions of naira, the country has continued to totter on brink of economic destruct. Painful was the realisation that the accrued oil boom fund was not accounted for by that leadership. It was one of the worst economic woes that Nigerians encountered from an administration that was supposed to be interventionist and remedial to the economically clueless Alhaji Shehu Shagari’s Second Republic and General Muhammadu Buhari’s administration that succeeded the former in a coup d’etat.
Instead, corruption was systemic and institutionalised. The subsequent administration of Sani Abacha was not only repressive but was corruption personified. Other administrations, including Chief Olusegun Obasanjo’s, could not right some of the wrongs, inefficiency and failure of their predecessors, especially in the area of power supply.
In fact, the apparent lack of electricity supply translated to the closure of several industries and led to redundancy and many people thrown into labour market, looking for how to eke out a living.
Several billions of naira injected into the power sector and unbundling of the then National Electric Power Authority (NEPA) into Power Generating Companies (GENCos) and Distribution companies (Disco) across the country with a view to restoring sustainable power, have not solved the problem.
No doubt, a nation that has the problem of power supply can not rise to stardom economically.
Production, the wheel of industry revolves around power supply. This is why many companies and industries which could not bear the challenges of the alternative private fuelling are no more in business. The four refineries in the country: two in Port Harcourt, one in Warri and Kaduna each; are dead. Efforts to make them work are counter-productive. Today Nigeria refines crude outside at dollar cost for Nigerian citizens to bear the brunt of paying the outrageous difference. This is pathetic, unacceptable and an anomaly.
The Small and Medium Enterprises have the capacity to drive the private sector if a conducive economic development environment is created. Lack of power supply, unfriendly tax regime and accessorial defects should be corrected. The Federal Government should make reasonable efforts to empower the private enterprises to collaborate in driving the economy of the nation. Loan facilities should be given to entrepreneurs at single digit interest rate.
Power supply should be stabilised. By so doing, the increasing rate of unemployment with the attendant social ills such as prostitution, banditry, cultism, militancy, robbery etc, will be curbed to an extent and the standard of living and human development index of the country will be inevitably improved.
By: Igbiki Benibo
Opinion
Professor Kamene Okonjo: A Life Beyond Motherhood
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By: Sylvia ThankGod-Amadi
Opinion
On Ancestrial Worship: My Take
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By: Jason Osai
Opinion
FG’s Transport Support And Rivers Workers
The Federal Government’s approval of a N70,000 monthly transport intervention for public service workers for six months, beginning in November 2026, offers hope to employees struggling with the rising cost of living. The agreement with the Nigeria Labour Congress (NLC), reached at a conciliation meeting in Abuja on October 27, is intended to cushion transport costs and ease pressure on workers’ incomes. But for public servants in Rivers State, it raises a familiar question: will the State Government key into the intervention and ensure that its workers benefit? The agreement provides for N70,000 monthly across all levels, for six months. The Federal Government also approved peculiar allowance arrears effective from May 1, 2026, to be paid in three equal instalments beginning in November.
The parties agreed to reconvene after one month to assess implementation. Ultimately, the value of these resolutions will be measured not by announcements but by whether eligible workers receive the money. Transport costs consume a substantial share of many civil servants’ earnings before they can meet household needs. Support for commuting is therefore not a luxury or political favour; it is temporary assistance to help workers remain at their jobs without sinking further into hardship. For lower-paid employees, transport costs can turn modest salaries into a daily exercise in difficult choices and sacrifice.
The agreement also urges State and Local Governments to participate and unions to press for implementation. The federal agreement does not automatically guarantee that every State and Local Government employee will receive the support. State authorities must clarify how it will apply to their workforce, make the necessary arrangements and publish a payment timetable. Rivers State must approach the arrangement with urgency and transparency. The Government should State whether it will implement the intervention and when payments will begin. Any administrative or financial question should be addressed promptly with organised labour, not allowed to become excuses for delay.
The concern is sharpened by the earlier N35,000 monthly wage award introduced by the Federal Government in 2023 after petrol subsidy removal. It was intended as temporary relief pending a new national minimum wage. While several States negotiated and paid wage awards or related sums, implementation nationwide was uneven. Reports in 2024 indicated that many States had failed to pay the federal award, while others provided different amounts. In Rivers, labour and media reports raised concerns about implementation of the N35,000 award for State workers, amid separate announcements and arrangements concerning Local Government employees.
The wage award was meant to ease the immediate effects of subsidy removal, yet workers faced uncertainty over whether the promised relief would reach them. In February 2024, the Rivers State Government announced approval of the N35,000 award for local government workers, but subsequent reports showed that implementation across worker categories remained a concern. The lesson is clear: approval and implementation are not the same. A declaration at a meeting offers little comfort to a worker whose account does not reflect the promised payment. For workers who travel to their offices daily, the implications of delayed support are significant. Transportation expenses compete with food, rent, school fees, healthcare and other essential household needs.
As fares rise, employees may be forced to reduce spending on necessities or borrow to sustain their families. A timely transport intervention would therefore provide practical relief and demonstrate that government understands the economic pressures confronting its workforce. Its temporary nature makes prompt implementation even more important. It is fair to acknowledge that this transport intervention is a new agreement and that its administrative details may require clarification. Rivers State should not be condemned in advance for a failure that has not occurred. Nevertheless, the earlier experience gives workers legitimate grounds to seek assurances before the November commencement date. The State should avoid allowing uncertainty to persist until workers begin asking why the promised assistance has not arrived.
The NLC and unions in Rivers State should engage the State Government immediately and seek a written commitment, an implementation plan and a process for reporting missed payments. If clarification from the Federal Government is needed, the State should seek it without abandoning the goal of providing relief. Labour leaders must also keep members informed about progress and insist that any agreed arrangements are applied fairly and transparently. The Rivers State Government should treat this intervention as an opportunity to rebuild confidence. Timely support would show that workers’ welfare is more than a talking point and that the State recognises the economic realities confronting its employees.
Silence, delay or selective implementation, by contrast, would revive frustration over earlier relief measures and weaken trust between government and labour. Every month lost to administrative delay leaves workers facing the same transport burden without the intended assistance. The State should consult labour, publish arrangements and pay eligible workers on time. Rivers workers should not have to wonder whether federal relief will reach them. The Federal Government has announced the support; now the State must make its position clear. We hope the N70,000 monthly transport intervention will not follow the troubling path of the earlier wage award. Rivers State should learn from that experience and ensure that this time, relief is not merely promised but delivered.
Sylvia ThankGod-Amadi
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