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Rich Nigerians’ll Suffer If Economic Woes Persist -Soludo
A former Governor, Central Bank of Nigeria, Prof. Charles Soludo, has said the rich in the country will also suffer if high poverty and unemployment rates are not tackled.
Soludo said this on Tuesday in Lagos while delivering a presentation on economic restructuring at a programme, tagged ‘The Platform’, organised by Covenant Christian Centre.
He lamented that the country had not been able to diversify away from oil and gas over the years despite efforts by successive governments.
“The alternative future that we see is one without oil and where exhaustible natural resources play very little role. The future will be driven by people – our youths – and technology,” he said.
Soludo, who was recently appointed by President Muhammadu Buhari as a member of the new Economic Advisory Council, said the next, bigger-than-oil export earner for Nigeria would potentially be its human capital.
He said, “Nigeria earns almost as much from oil as it earns from remittances from the diaspora. But we cannot export illiterates in a world driven by the digital revolution. The easiest way to waste the future is to continue to churn out millions of semi-illiterates, largely unemployable citizens, most of whom see criminality as the only way to escape poverty trap or drug as the opium for solace.
“With an urbanisation rate of over five per cent, the conflagration that might ensue when hundreds of millions surge to the cities but can’t find jobs, housing, water, and food can only be imagined. Soon, I believe, the rich won’t be able to sleep because the poor, homeless and angry are awake.”
According to the ex-CBN boss, the county can have a smart population policy that encourages people to have a number of children that they can train and then also ensures that we have a reliable population census, using biometrics rather than political population figures.
“Whatever the case, the challenge is how to deliberately optimise the potential of the huge youthful population to be highly productive at home and competitive or exportable abroad,” Soludo added.
No fewer than 9,469 admissions across 20 tertiary institutions nationwide have been flagged as fake by the Joint Admissions and Matriculation Board (JAMB) for the 2024 academic session.
According to the board, the admissions were conducted outside the popular Central Admission Processing System, popularly known as CAPS.
According to the list obtained from JAMB, Kano State University of Science and Technology led the pack with 2,215 fake admissions, with Ladoke Akintola University of Technology following with 1,215.
Others are Gombe state University, 1,164; Emmanuel Alayande University of Education, 761; Federal University of Technology, Owerri, 534; Ambrose Alli University, 514; Igbinedion University, 365; Akwa-Ibom Polytechnic, 340 and College of Nursing, National Orthopedic Hospital, Igbobi, 281.
Also on the list are Achievers University, 267; Nigeria Police Academy, 263; Abia State Polytechnic, 256; Osun State University, 224; Federal University, Lafia, 189; Niger State Polytechnic, 182; Federal Polytechnic, Ida, 171 and Edo State Polytechnic,166.
Others are Anchor University, 133; Michael and Cecilia Ibru University, 116 and the Federal College of Animal Health and Production Technology, 113.
CAPS was introduced to enhance transparency and efficiency, and serves as an online platform where prospective university students can monitor and manage their admission status.
By centralising the admission process, JAMB CAPS ensures that all candidates are given fair consideration based on merit and institutional requirements.
The primary purpose of JAMB CAPS is to streamline the admission process into tertiary institutions across Nigeria. It achieves this by ensuring transparency as candidates can easily track their admission status, and guarantees that all applicants are evaluated based on consistent criteria.
The system also enhances efficiency as institutions can process admissions swiftly, and candidates receive timely updates on their application status.
The board has, over time, warned institutions against backdoor admissions offered to candidates outside CAPS, as candidates offered admission outside CAPS were barred from the mandatory National Youth Service Corps scheme.
Recall that the Minister of Education, Dr Tunji Alausa, reiterated a directive in Abuja at the 2025 policy meeting of JAMB last week, declaring all admissions conducted outside JAMB as illegal.
He said institutions and individuals involved in such practices would be prosecuted and severely sanctioned.
“Any admission conducted outside CAPS, regardless of its intentions, is illegal.
“Both institutions and the candidates involved in such practices will be held accountable.
“Sanctions may include withdrawal of institutional assets and prosecution of culpable officers or governing council members,” he said.
The National Orientation Agency (NOA) says it will soon unveil a National Values Charter (NVC) to serve as a social contract between the Nigerian government and its citizens.
The Director-General of the agency, Malam Lanre Issa-Onilu, disclosed this in Abuja, yesterday at a one-day workshop on “Civic Responsibility and National Values for Voluntary Organisations”.
Issa-Onilu was represented by Dr Olukemi Afolayan, Director of Civic Values and Democratic Education at the agency.
He said that the charter would articulate the responsibilities of both the government and citizens towards nation-building.
“We are at a pivotal moment as a country.
“The challenges facing Nigeria range from insecurity, corruption, poor civic engagement, moral decay, and apathy in democratic processes.
“These require, not just governmental intervention, but active citizen participation,”he said.
He said that voluntary organisations had historically played key roles in moral reawakening, youth mobilisation and community development, dating back to the colonial period.
According to him, the NOA under the current leadership, has intensified efforts to fulfill its core mandate of value reorientation.
He said that the agency did that with the launch of several campaigns, including the National Identity Project approved by the Federal Executive Council in 2024.
“President, Bola Tinubu, is expected to formally unveil the National Values Charter.
“It defines the ‘Nigerian Promise’, the government’s commitment to equality, democracy, entrepreneurship, peace, inclusivity, freedom and meritocracy,” he said.
The NOA D-G said that the Charter would also highlight a ‘Citizen’s Code’ calling on Nigerians to embrace discipline, duty of care, tolerance, leadership, accountability, environmental awareness and resilience.
He urged voluntary organisations to support the campaign and serve as role models in their communities to promote patriotism and public trust.
Also speaking, Mrs Rhoda Sadus, Deputy Director of Civic Values and Democracy at NOA, said that the Charter was a critical component of a broader National Identity Project aimed at global reputational management.
“This is the first time any Nigerian organisation is targeting global reputational management through strategic media engagement, including broadcasts on international channels like CNN,” she said.
Sadus said that NOA was engaging Nigerians in the diaspora and working closely with other agencies, including the Nigerians in Diaspora Commission (NIDCOM), to promote a unified national identity.
“When the Director-General assumed office, he emphasised the need for Nigeria to define and project its identity.
“The National Values Charter was conceived to outline the responsibilities of both the government and the citizens, a departure from past initiatives that only targeted citizens,” she added.
She said that the agency would soon begin training public office holders on national values as part of the post-appointment orientation process.
“We believe that when both the government and the people fulfill their obligations, national development will follow,” she said.
In his remarks, Dr Mohammed Dambo, Commander of the FCT Man ‘O’ War, said the initiative offered an opportunity for Nigerians to unite under a common agenda for national progress.
“If America became what it is today through collective agreement and commitment, Nigeria can do the same.
“We need to stop gaslighting our leaders and start promoting a culture of excellence, patriotism and civic responsibility.”
He called for the values to be transferred to the younger generation as part of efforts to restore hope and pride in the country.
The Tide source reports that the workshop attracted the presence of representatives form Boys Scout Association of Nigeria, Girls Guide Association of Nigeria and Man O’ War Nigeria.
Others were Red Cross Society of Nigeria, Boys Brigade Nigeria, National Cadet Corps (School-Based) and War Against Indiscipline (WAI) Brigade.
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