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…as Christian cleric urges Lagos electorate to vote a Muslim gov. in 2027
IBRAHIM QUADRI
The Speaker of the Lagos State House of Assembly, Rt Hon Mudashiru Obasa has urged Nigerians to keep hope alive despite economic hardship confronting them, saying he has trust in President Bola Tinubu to bring succour to the populace.
Obasa made the remarks during the 22nd annual Thanksgiving celebration on Friday organized by the Lagos State House of Assembly Christian Association at the Assembly premises, Alausa, Ikeja.
The guest minister at the event was, Most Reverend Isaac Olawuyi who is the Archbishop of Lagos Methodist Church, Nigeria.
While delivering his ministerial, the Cleric appealed to the Christians in Lagos to give maximum support to a Muslim governor who would emerge in the state in 2027.
Speaking on the theme for this year’s programme was tagged, ‘Voice of Mercy,’ the Cleric charged every Nigerian to show compassion towards one another.
According to Obasa, “The outgoing year is indeed a challenging one, especially considering the economic situation of the country. Nevertheless, we have solace in the fact that the government of Asiwaju Bola Ahmed Tinubu, GCFR is not leaving any stone unturned to bring us to our promised land. Mr President is busy, doing everything possible to put smiles on our faces. Trust me, succour is coming. I urge us to keep the hope alive!”
He added, “As the theme of this event reminds us, “The Voice of Mercy” is a call to reflect on God’s goodness and compassion towards us. In Psalm 103:8, we are reminded that “The Lord is compassionate and gracious, slow to anger, abounding in love.” This verse highlights God’s merciful nature and His willingness to show compassion to those who seek Him.
“In times like these, when the world can seem overwhelming and uncertain, it is crucial to remember the enduring message of mercy and grace that is ever-present in our lives.”
The revered cleric stated, “In this Lagos, we have been living as Christians and Muslims. We have consideration for one another over religious inclinations.
“For the past 12 years, we (the Christians) have been in the system. It is time to give our ‘siblings,’ the Muslims the time to rule us in Lagos State, that is my feeling and that is my position. Anyone that will lead us, we pray for somebody that will lead us right in Lagos State.”
Reverend Olawuyi enjoined the citizens to show mercy to one another, stating that to have the mercy of God, people must be merciful, especially at this trying time.
“By God’s mercy, Nigeria remains one and Lagos is waxing stronger. The storm is blowing but we are not consumed.
He likened President Tinubu to Abraham of Lagos, former Governor of the State, Babatunde Fashola (SAN) as Isaac, stating further that the incumbent, Babajide Sanwo-Olu is the Jacob.
While saluting members of the Lagos State of Assembly for displaying courage, he stated that “their dedication and team spirit especially the synergy among yourselves have impacted positively in the State.
“I congratulate Mr Speaker and his wife. You have proved your worth especially as it relates to leadership ability in Lagos. You can’t stay long in the House if you are not honourable. We appreciate the synergy between you and the Governor in Lagos State.”
Speaking on the theme, he said, “It is time for the mercy of God. The time of mercy has come. If you can claim it, the special mercy of God will come to you as we go into the year 2025.
Quoting the Biblical verses in Lamentation 3: 22-23, he added, that one of the faithfulness of God is mercy. When you look unto God, His nature is, you will have His mercy, Stick to it, believe that He is God, He is kind and His mercy endureth. If you do it, depression will be far away from you, you will not run helter-skelter.”
He further stated that Psalm 36, is stated in poetic form. “By his mercy, we are not conquered. It is by His mercy we are kept away from untimely death, it is by the mercy of God, that we are not ravaged and by the mercy of God hunger has not destroyed us. Despite all the challenges we are more than the conquerors.”
He added, “Prosperity and peace are coming back and I am saying this prophetically. We will not be put to shame.”
“I want every Nigerian to learn that from God alone, comes mercy. You will be disappointed if you rely on anyone other than God. When the mercy of God is in you, every obstacle is removed.”
The Cleric however noted, “Everyone should go and show mercy to others. The only way to help every one of us is to show mercy to one another. How many people have you wiped their tears away?” He queried.
…Matawalle urges critics to be positive in their narratives
The Honourable Minister of State for Defence, H.E. Dr. Bello Muhammad Matawalle MON, has praised President Bola Ahmed Tinubu for his robust economic policies and reforms, which are yielding significant positive results for the nation. According to Matawalle, these initiatives are contributing to a turnaround in the economy that will benefit all Nigerians.
In the light of ongoing criticism, particularly from some quarters in Northern Nigeria, Matawalle urged critics to be positive in their narratives and called on citizens to remain steadfast in their support for the President and to reject divisive narratives. “It is crucial for Nigerians to stand united behind Mr. President, who is diligently working hard to revitalize our economy through a series of effective policies, programs, and reforms,” he stated.
Matawalle specifically highlighted President Tinubu’s tax reforms as a pivotal element in the country’s economic turnaround. He explained that these reforms are designed to create a more equitable tax system, which will enhance revenue generation for the government while easing the financial burden on ordinary citizens and small businesses.
“By broadening the tax base and ensuring that everyone pays their fair share, President Tinubu is laying the groundwork for sustainable economic growth. These reforms will not only increase government revenues but also stimulate investment and job creation across various sectors,” Matawalle elaborated.
He further noted that the tax reforms aim to simplify the tax administration process, making it easier for individuals and businesses to comply. This will foster a more business-friendly environment, encouraging entrepreneurship and innovation, which are essential for driving economic progress.
Matawalle also highlighted several key achievements across various sectors, particularly noting improvements in national security. He emphasized that President Tinubu has made substantial strides in enhancing the capabilities of the Nigerian military through the provision of modern hardware and equipment. Additionally, he assured that military personnel have received timely payment of their allowances and salary increases, which has significantly boosted their morale.
“Under President Tinubu’s leadership, we are witnessing a renewed commitment to the safety and well-being of all Nigerians, and I encourage everyone to recognize the positive changes taking place,” Matawalle concluded.
AHMED MARI, Maiduguri
The Yobe State Governor Mai Mala Buni has said his administration has disbursed N2.93 billion as part of his agricultural empowerment programme to stimulate economic growth, recovery and reposition the state for post-insurgency recovery.
Governor Buni, who disclosed this made this clarification in Maiduguri, on Wednesday, after commissioning a 500-unit housing estate named after him by Borno State government.
In the beginning of this year’s cropping season, we launched a multi billion Naira agricultural empowerment programme which will redefine agricultural production at the end of the harvest season.
“We have invested heavily in education, healthcare delivery, agriculture, and empowerment for sustainable means of livelihood to give the state and its people a promising future”, he said.
The Yobe Governmor expressed his profound gratitude to Governor Babaganaa Zulum for inviting him to commission some of his legacy projects and naming the 500 housing units after him.
He said all these reflect the excellent age-long brotherhood that exists between our dear states and people. I deeply appreciate this recognition and honour.”
He further recalled the age-old relationship of amity between Borno and Yobe states, recalling, “We are a people binded by the same culture and tradition that are simply demarcated for administrative convenience.”
Buni said the two states had always identified with one another, shared the good and the challenging moments together, stressing, “We have also shared the sad and unfortunate insurgency security challenge which claimed many precious lives, displaced millions of our people, and destroyed critical infrastructures, drawing us many years backwards.
“Today, Borno and Yobe states are both striving to emerge out of that challenge by adopting the Rehabilitation, Reconstruction and Recovery programme.I am indeed glad to see that we are moving so fast to improve the conditions of our people to live with dignity,” he stressed.
Earlier, Governmor Babagana Zulum of Borno state said 210 out of the 500 housing units will be allocated to the Nigerian Police Force, while the Metro Housing units will be allocated to Federal Government workers at Zonal offices in Maiduguri.
” Today, I am happy to have my brother Governor Mai Mala Buni to commission some key projects we executed. We witnessed the commissioning of 500 Housing Units, the 72 housing Metro Housing estate, Sanda Kyarimi Kura roads and other laudable road projects designed to ease traffic, beautify the city and create economic opportunities”, said.
” I am naning this Metro Housing estate after my boss and the Vice President Kashim Shettima, the 500 housing units after my brother Governor Mai Mala Buni. There are also several intra city network roads ongoing, which I would like to name after my humble self”, he added.
According to him, “the Borno Express Flyover is an iconic structure that will revolutionize transportation in our state, thereby reducing travel time and providing a safer commuting experience,” .
Zulum pledged continued dedication to infrastructure development as part of his administration’s urban and rural renewal efforts.
He expressed his gratitude to President Bola Tinubu, Vice President Kashim Shettima, Governor Mai Mala Buni for their support, and guidance, as well as the people of Borno state for their cooperation.
AHMED MARI, Maiduguri
Governor Babagana Zulum of Borno State has presented N584.7 billion to the state House of Assembly for the 2025 fiscal year.
The Budget tagged the “Budget of Recovery and Continuity,” has a total sum of ₦584.76 billion aimed at consolidating the state’s developmental strides.
The ministries of health, education, finance and economic recovery, alongside critical investments in security, infrastructure, and social services are top priority
The 2025 proposed budget has the sum of ₦380.84 billion as Capital Expenditure and the sum of ₦203.92 billion Recurrent Expenditure to be financed through Recurrent Revenue from the Federation Account Allocation Committee (FAAC) of ₦311.70 billion, Internally Generated Revenue (IGR) of ₦30.09 billion, and Capital Receipts of ₦237.96 billion, which include aid, grants, and a Capital Development Fund.
The Ministry of Health tops the sectoral allocation, with ₦89.97 billion which is 15.39% of the Total Budget size followed by the Ministry of Education with N69.8 billion, the Ministry of Finance with N62.6, the Ministry for Reconstruction, Rehabilitation and Resettlement, RRR, N24.4 billion, while ministry budget has lowest with N4.2 billion.
The health ministry has the highest allocation because of the ongoing construction of Borno State University Teaching Hospitals, the construction of an Orthopaedic Hospital in Maiduguri, the establishment of General Hospitals in Magumeri, Gubio, Azare, Uba, Dikwa, Kaleri, and Mafa, alongside rehabilitation of hospitals in Baga and Mulai. and expansion of the State Health Insurance Scheme for civil servants and vulnerable citizens across the 27 Local Government Areas.
Governor Zulum said, “Enrol civil servants into the State Health Insurance Scheme, expand the enrolment of vulnerable indigenes across the 27 Local Government Areas into the Basic Health Care Provision Fund”.
“The Borno State primary health care development agency would revitalise 100 Primary health care centres in the state and plan to construct 6 additional primary health care centres and upgrade 6 PHCs to comprehensive health centres” Zulum added.
The education sector was allocated ₦69.81 billion, Governor Zulum said that the plan is to establish a new Second Chance School, construct five additional Mega Schools and five Mega High Islamic Schools, rehabilitate facilities in 50 schools across the state.
Zulum also explained that his administration. has procured food items worth ₦10 billion to address food insecurity, cultivation of 100,000 hectares for rain-fed farming and 50,000 hectares for irrigation and investment in large-scale fish farming.
He said, “In the next fiscal year, the government will invest in programmes aimed at stimulating local economic activities, supporting small businesses and attracting investment”.
He emphasized that the state government has released the sum of ₦22 billion for victim support and reconstruction of damaged infrastructure, including roads, bridges, schools, and healthcare facilities. Other major projects include
Other priority projects in the 2025 budget include the establishment of Maiduguri Dry Port, Dualization of a 7.1km stretch of Maiduguri-Biu Road and the construction of a 6-span bridge across River Ngaddabul as well as Modernization of Borno Radio and Television (BRTV).
Zulum reaffirmed his administration’s dedication to addressing key challenges, including clearing the backlog of pensions and gratuities, noting that the Implementation of ₦72,000 minimum wage for civil servants and teachers has already commenced “Despite the impact of the flood disaster, we are committed to ensuring the welfare of our pensioners,” he said.
He also pledged unwavering support for initiatives that will strengthen recovery, continuity, and resilience across Borno State, ensuring a stable and prosperous future for its citizens.
Responding m, the Speaker of Borno State House of Assembly, Hon Abdulkarim Lawan saud that the House passed a total of 12 laws that will directly promote good governance and impact on lives of the people of the state.
Hon Lawan assured that the House will give the budget and accelerated gearing and their continued support to the Executive arm of the Government
He commended Governor Babagana Zulum for the resettlement of victims of the Boko Haram insurgency, acknowledging the cordial working relationship between the legislature and the executive.
The African Development Bank (AfDB), has called for urgent structural reforms to tackle Africa’s deepening economic challenges that include currency depreciation, rising inflation and an escalating import bill.
Its Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that global and local factors contribute to the continent’s economic struggles.
Urama said Africa’s currencies, including those of Nigeria, had depreciated sharply against the U.S. dollar in recent years, creating economic instability.
He identified global geopolitical conflicts such as the war in Ukraine-Russia and the Israel-Hamas conflict, as major drivers of the continent’s inflationary pressures, particularly in food and energy sectors.
Urama said that those external factors were compounded by Africa’s limited capacity to produce key goods domestically.
“Over the past three to five years, Africa has faced continuous currency devaluation due to structural challenges.
“Global disruptions in food and energy supply chains, coupled with our reliance on imports, have made it difficult to stabilise our economies.
“As countries dip into their foreign reserves to meet import demands, it weakens their ability to implement effective monetary policies to stabilise their currencies,” he said.
The professor warned that decisions by some governments to raise interest rates to address inflation in their nations could have unintended consequences.
“Raising interest rates may help curb inflation, but if they go too high, Small and Medium Enterprises will struggle to access finance which, in turn, harms productivity and economic growth.
“The reduced productivity leads to fewer domestic goods, which keeps prices high and further erodes living standards,”he said.
Addressing the long-term challenges, Urama called for a comprehensive overhaul of Africa’s economic policies, especially in sectors like agriculture and energy.
He said : “Africa has enormous untapped potentials in renewable energy where 60 per cent of the world’s technical potential lies.
“Similarly, more than 65 per cent of the world’s remaining arable land is in Africa. We need to shift focus to developing these resources domestically to reduce our dependency on imports and improve our economic stability.”
The AfDB vice president said Africa’s rapidly growing youth population, accounting for more than 40 per cent of the global youth demography, could be a key driver of future innovation and productivity.
According to him, this can only be made possible if they are provided with the right support and opportunities.
For a better society
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Ogun State Governor, Prince Dapo Abiodun, has declared that his administration in the past over five years has carried out unprecedented turn-around in all the critical sectors of the state economy, describing it as ‘silent economic revolution’.
He added that despite the humongous infrastructural deficit his government inherited upon assumption of office in 2019, especially in the area of roads at the boarder communities and Federal highways, he has been able to drastically ameliorate the situation in the best interests of the people in the State.
Prince Abiodun made this known on Friday during the 14th Annual Lecture/Award ceremony of the Nigerian News Direct Newspaper with the theme,” Achieving Economic Prosperity: The Role of Human Capacity Development, Fiscal Prudence and Revenue Generation”, held at Grand Ballroom, Oriental Hotel, Lagos.
The Governor, who was conferred with the ‘Man of the Year Award’ and represented by his Special Adviser on Media &Communications, Hon. Kayode Akinmade, reiterated his avowed commitment to all round development in Ogun State and the irreversible resolution to leave behind an enduring legacies of growth and prosperity in the Gateway State.
He highlighted some of his enviable success in the State within a shot period of time to include construction of over 600km of roads across the three Senatorial Districts, construction of world class Agro-cargo Airport as well as raising the Internally Generated Revenue base of the state to become the most viable state in Nigeria in the area of IGR generation among other achievements.
Governor Abiodun further explained that Ogun State since he took the mantle of leadership has totally changed the business environment to make it more friendly and favourable to investors, therefore making the state the best in terms of Ease of Doing Business and the investor destination of choice in Nigeria.
According to him, the State presently accommodates over six thousands manufacturing firms in different industrial clusters across the state and contributing immensely to the micro economy of the state as well as the Nigerian macro economic growth.
He, however, commended the management of the Nigerian News Direct Newspaper for the honour bestowed on him, promised never to deviate from the path of purposeful and responsible leadership with patriotic inclination.
“I most sincerely thank the Nigerian News Direct Newspaper for the honour, obviously, the recognition would serve as impetus for our government to do more for our people in Ogun State and Nigeria in general.
“We are happy that a media organization like News Direct is painstakingly monitoring our activities and progress in the state, which is no doubt a silent economic revolution of sorts in every critical sector of the state economy.
“I, therefore, urge them to continue to be vanguard of ethical journalism and strong illumination to the Nigeria’s public space for the ultimate good of the generality of the Nigerian citizenry”, Governor Abiodun said.
For a better society
Women groups from Borgu, Edati, and Mokwa Local Government Areas of Niger State have pledged to enhance their socio-economic status amid Nigeria’s economic challenges.
They made this commitment during a training organized by IFAD’s Value Chain Development Programme (VCDP) Additional Financing on food processing, focusing on rice and cassava for women in Borgu, Edati, and Mokwa local government areas of the state.
Participants, who are primarily farmers, acquired skills to process rice and cassava into various snacks to boost their income and help support their families.
The women vowed to share their newfound expertise with others, creating a ripple effect of economic growth, despite biting economic hardships in their communities.
According to Mary Jiya (Mokwa LG), whose husband is a cassava farmer: “This training will enable me to start a cassava processing business, improving my family’s life.”
Muslimat Mohammed, another participant from Edati LG, explained that in view of the biting economic hardship, women are rising to the challenge to help support their homes, saying, “The training will go a long way in empowering us economically.”
Mohammed maintained, “We’ve learned innovative ways we never knew before to utilize rice and cassava, uplifting our living standards.”
Also, Mrs. Aishatu Muhammed Mustafa, a liaison officer of IFAD from Mokwa LG, said, “I am here to get trained and carry it down to my council for farmers to benefit and better their lives,” adding, “I’ll cascade this knowledge to farmers in my council, enhancing their livelihoods.”
Speaking on the programme, Mrs. Kolo Joy Teni, Niger State IFAD Assistant Agro Quality Enhancement Officer, said selected participants from the three LGs were trained on how to develop some recipes from rice and cassava to enable them to make more income, improve nutritional value, and generate employment for the farmers.
She emphasized, “We empower farmers by building their capacity and providing startup support, creating jobs for them to ensure sustainable economic growth.”
Amir (National Head), Ahmadiyya Muslim Jama’at of Nigeria, Alhaji (Barr.) Alatoye Folorunso Azeez, has advised that various government incentives to cushion the effects of economic hardship especially cost of food should be re-evaluated, made to work and address the sufferings of the poor.
Alhaji Folorunso Azeez gave the advice on Wednesday during a press conference on the 70th Jalsa Salana (Annual Conference) slated for between Friday 20th and Sunday, 22nd December, 2024 at Ilaro- Owode Road, Ilaro, Ogun State.
The Amir, who said the theme of the 70th Jalsa Salana was: “And We Have Sent Thee (Muhammad) Not But As a Mercy For All People” (Q21.108), stated: “This is a Qur’anic declaration which is very instructive, as the Holy Prophet Muhammad (saw) is humanity’s noble specimen and perfect model in beauty and beneficence and in leadership for personal and national reformation and development”.
He stated President Bola Ahmed Tinubu has been invited for the occasion with some Governors from the Northern and Southern parts of the federation, political and traditional leaders, Islamic Scholars as special guests.
According to him, the main highlights of the Islamic gathering are: Recitation of the Holy Quran, Praises of the Holy Prophet Muhammad (SAW), Message from the World Leader of the Ahmadiyya Community, Goodwill Messages from the Nigerian leaders, Lectures, Special Prayers/Tahajjud for all.
On what Jalsa salana means, Amir explained: “Jalsa Salana, very simply is the Annual Convention of the Ahmadiyya Muslim Community initiated by the founder of the community, Hazrat Mirza Ghulam Ahmad (peace be upon him).
“Usually, the gathering spans over three days, beginning on Friday with the Friday Sermon. It derives its Islamic basis and rationale from the Qur’anic promulgation that: “There is no good in many of their conferences except the conferences of such as enjoin charity, or goodness, or the making of peace among men. And whoso does that, seeking the pleasure of Allah, We shall soon bestow on him a great reward,” (Qur’an, Al-Nisā, Chapter 4 verse 115)”.
Stating that the very first Jalsa was held in Qadian, India, in 1891 and had 75 guests, Amir pointed out that “Within 100 years, from 1891-1991, Jalsa Salana Qadian grew from 75 to 66,000 guests”.
On the the State of The Nation, the Amir currently, acknowledged the economic reforms of the Tinubu administration , including “the recent cheering news of the complete rehabilitation and full operation of the PortHarcourt Refinery after 34 years”.
Describing the cheering news as a welcome development, he however, sad: “It is regrettable that economic hardships are taken their tolls on average Nigerians but the political class are living in opulence and vagrant display of wealth.
“We have noticed that the President’s call for reduction in the cost of governance by the Ministers and Governors are not been yielded to. The citizens are daily harassed by long convoys of official vehicles on the highways. Multiple taxations are still the order of the day. The public power supply – electricity is inadequate despite increase in tariffs and forced migration to Band A. In reality, the Nation is bleeding”.
He then advised the political class to walk -the- talk over pronouncements on reduction of cost of governance, adding that Ministers and Governors should reduce the size of their convoys.
He also advised that the corrupt officials must be tried, convicted and punished accordingly as a deterrent to others, while the State Governors who are yet to implement the payment of the minimum wage should expedite actions on payments.
“Various government incentives to cushion the effects of economic hardship especially cost of food should be re-evaluated, made to work and address the sufferings of the poor.
“Elites and privileged in the country should stop their high tastes for imported goods and service, patronize and buy home made goods and services”, the Ahmadiyya Amir further stated.
For a better society
9mobile, one of Nigeria’s leading telecommunications companies, has applauded the Nigerian-British Chamber of Commerce (NBCC) for its tireless efforts in strengthening economic partnerships between Nigeria and the United Kingdom.
The commendation was made at the NBCC Presidential Dinner and Awards Ceremony, held recently at the prestigious Eko Hotels & Suites, Lagos.
The NBCC Presidential Dinner is an iconic event that celebrates excellence in business and honors key players advancing bilateral trade between Nigeria and Britain.
This year’s gathering brought together notable industry leaders, government officials, and stakeholders to explore new horizons in trade and investment. At the core of the NBCC’s mission is the promotion of trade and investment between Nigeria and Britain.
The chamber highlighted the importance of exploring strategies to strengthen economic partnerships, and 9mobile’s attendance was a testament to its support for businesses, especially Small and Medium Enterprises (SMEs).
9mobile’s Chief Operations Officer, John Vasikaran, emphasized the company’s commitment to supporting SMEs through initiatives like The Hack, a free enterprise initiative and networking event.
“The Hack is one of 9mobile’s sustainability pillars entrenched in our brand DNA to grow the SME market, mitigate unemployment challenges, and consolidate Nigeria’s economy,” Vasikaran said.
The event was a reaffirmation of 9mobile’s role as a catalyst for growth, innovation, and positive transformation in Nigeria’s socio-economic landscape.
With a trade relationship valued at £7.5 billion annually, and Nigeria exporting £2.5 billion worth of goods to the UK, the event identified the critical role of private-sector initiatives in strengthening these ties.
As the night drew to a close, the shared vision of promoting stronger ties and collaborative solutions echoed loud and clear. 9mobile’s commitment to supporting businesses and promoting economic partnerships is a testament to its role as a leader in Nigeria’s telecommunications industry.
As the founder of Operation HOPE, I’ve spent the better part of my life advocating for financial literacy and economic empowerment in underserved communities. Over the years, I’ve come to a stark realization: there are simply not enough successful white men to carry the weight of America’s economic future.
This is not a slight against those men, who have historically driven much of our nation’s GDP growth. Just the opposite. I want as many of them as possible to be successful, as we all succeed when we all succeed. This is just a mathematical reality—and one that we must confront and solve, positively, if we want to ensure America’s continued prosperity.
Consumer spending makes up 70% of the U.S. economy, but the face of the American consumer is changing. Today America is made up of 41% minority groups. And by 2044, the United States will be a majority-minority country, meaning no single racial or ethnic group will dominate the population. Even today, minority groups wield immense purchasing power: Black Americans are projected to have $1.7 trillion in spending power by 2030, while Hispanic Americans already contribute $3.2 trillion annually to the economy.
These numbers tell a clear story: the economic future of America depends on ensuring that all citizens—regardless of race, gender, or background—have access to the tools and opportunities they need to thrive.
Read more: DEI Isn’t Working. Inclusive Economics Might
Yet today, systemic barriers continue to hold too many people back. White Americans have 80% of the nation’s wealth, despite accounting for only 65% of households. Women, who now have $10.9 trillion in assets and represent about 30% of America’s GDP, still face significant barriers to wealth accumulation and income opportunity. These disparities are not just moral failings; they are economic risks. If we fail to address them, we risk stifling the potential of millions of future consumers, entrepreneurs, and leaders.
Financial literacy is the civil rights issue of this generation. Why? Because financial literacy is the foundation of economic mobility. It’s the difference between surviving and thriving in a system that often feels stacked against you. We’ve seen firsthand how teaching individuals to manage credit, build wealth, and start businesses can transform lives. One of my favorite success stories is a woman from Atlanta who, after going through our financial coaching program, paid off $30,000 in debt, increased her credit score by 200 points, and purchased her first home.
Now imagine scaling that impact across millions of households. That is what’s at stake when we talk about diversity and inclusion—not just equity, but economic opportunity for all.
We’ve learned at Operation HOPE, from partnering with banks to bring financial coaching into underserved communities to helping Fortune 500 businesses diversify their leadership pipelines, inclusion is not just the right thing to do—it’s the smart thing to do for businesses. When I talk to CEOs, I remind them that diversity isn’t charity; it’s good business. The future workforce—and the future customer base—will look very different than it does today. Companies that fail to adapt to this reality will find themselves left behind.
We also need policymakers to step up. This means investing in education, expanding access to affordable housing, and ensuring that minority-owned businesses have the resources they need to succeed.
It also means addressing the racial wealth gap head-on. The average Black family has one-tenth the wealth of the average white family—a gap that reflects decades of discriminatory policies. Financial literacy is a powerful tool, but we cannot achieve true equity without systemic change.
This is not a Black issue, a Brown issue, or a women’s issue. It is an American issue. The strength of our economy depends on the strength of all its participants.
Nothing changes your life more than God or love, except moving your credit score 120 points in the right direction. Financial inclusion is a game-changer—not just for individuals but for our nation as a whole.
There are not enough white men to sustain the American economy. But that’s not a problem; it’s an opportunity. An opportunity to build a future where everyone has a shot at success. A future where our diversity is not just a challenge but our greatest strength.
Let’s seize that opportunity together.
President Bola Ahmed Tinubu has stated that the economic Reforms of his administration, are necessary to facilitate the growth of Nigeria and Nigerians.
He made this known through the National Security Adviser (NSA) at the opening of the 24th Comptroller-General of Customs Conference in Abuja.
It is worthy of note that Nigerians have been complaining and grumbling about the policies of the current administration including the removal of fuel subsidy, and unifying the exchange rate system, to mention but a few.
Tinubu however, noted that these economic reforms are essential steps toward creating a more transparent and sustainable economic framework.
According to him, these reforms will redirect resources into productive investments that would yield long-term benefits for Nigerians.
He also reiterated that his vision to strengthen Nigeria’s economy is progressing as planned.
He explained that the administration’s focus has been on strengthening effective policies, refining areas that needed improvement, and introducing new initiatives to address gaps.
He stated, “When I assumed office last year, I set out with a clear and unwavering vision – to strengthen Nigeria’s economic base and foster positive growth and development for the benefit of all.
“Eighteen months later, that vision remains unchanged. In pursuing this vision, we have built upon existing foundations while introducing necessary reforms to adapt to our evolving economic realities.
“We recognized that some economic policies, though useful in their time, needed realignment with current global dynamics to better serve our national interests and the well-being of our people.
“While these decisions required short-term adjustments, they were necessary for sustainable economic growth and prosperity for all Nigerians.”
Former Senator, Shehu Sani has called on Northerners not to reject economic reforms introduced by the federal government.
Recently, Governors of the 19 Northern States, under the platform of the Northern Governors’ Forum at a meeting in Kaduna, rejected the new derivation-based model for Value-Added Tax distribution in the new tax reform bills before the National Assembly.
However, in a reaction on his verified Facebook page on Saturday, Sani advised the Northern governors “not to be afraid of any economic reform, especially reforms that are pushing it to look inwards and develop and depend on its resources.”
He said, ”if you study the science of life generally, anyone pushing you to stand on your feet and not to lean on others is pushing you to greatness that you have been unwilling to embrace.
“Whether with good or mischievous intent, pushing you out of your comfort zone is directly propelling you to walk with pride, with confidence and with that independence you existentially and eternally need.
“The dignified and moral answer to anyone who challenges you to stand alone is to stand alone, there will be problems, huddles, storms and turbulence in the beginning, but with courage, tenacity and resilience you will learn to overcome them and emerge stronger.
“There are periods in our lives when we actually need that person who will starve us and tell us to walk out of his house for us to discover our hidden power, our hidden potential, our hidden wealth and our hidden greatness.
“The North is a treasure of hidden wealth waiting for its people to be frustrated with the sleepy dependence on manna and dig up their gold and diamonds in the depths of their endowed and blessed soil. When you are told that you can, your soul is encouraged. When you are told that you can’t, your spirit is challenge,” Sani told the forum.
Guinness Nigeria Plc, a leading player in the Total Beverage Alcohol market, today announced its unaudited financial results for the quarter ended September 30, 2024. The company delivered a remarkable 111% year-on-year revenue growth, driven by innovative product offerings, enhanced consumer engagement, and effective expansion of its retail footprint.
Revenue increased from N59.5 billion in the same period last year to N125.9 billion, a testament to the strength of Guinness Nigeria’s diverse portfolio and its focus on building strong consumer connections. Despite this top-line growth, the company faced significant cost pressures, primarily due to inflation and the continued depreciation of the Naira, which increased the cost of raw materials, packaging, and utilities.
Dr. Omobola Johnson, Chair of the Board of Directors, commented on the results:
“Our robust revenue performance reflects the resilience of our brands and the strength of our market presence. However, the difficult macroeconomic environment, characterized by rising costs and currency volatility, has impacted our profitability. As a Board, we are confident in management’s ability to execute the necessary strategic initiatives to strengthen our operations, enhance efficiency, and position the business for long-term growth. We remain focused on creating sustainable value for all our stakeholders.”
Guinness Nigeria reported a 170% increase in cost of sales, driven by volume growth alongside rising input costs and exchange rate fluctuations.
This led to a decline in operating profit, with the company posting a loss before tax of N16.0 billion. However, a favorable tax position, primarily due to deferred tax assets, reduced the overall loss to N12.1 billion.
Girish Sharma, Managing Director of Guinness Nigeria Plc, expressed optimism about the future stating that: “Our revenue growth demonstrates the strength of our brands and the effectiveness of our consumer engagement strategies. However, we are fully aware of the impact that inflation and currency depreciation have had on our cost structure. Our immediate focus is on improving operational efficiency, restoring profitability, and empowering our teams to deliver more value. We are confident that these actions will drive our financial recovery and position Guinness Nigeria for sustainable success.”
Looking ahead, Guinness Nigeria remains committed to leveraging its strong brand portfolio, driving operational efficiencies, and exploring opportunities for innovation and further improvement in local sourcing. The leadership team is actively implementing strategies to mitigate the impact of the macroeconomic environment while maintaining a sharp focus on delivering value to shareholders.
As the company navigates these challenging times, it remains optimistic about the future, supported by a clear strategy to enhance business resilience and capitalize on the opportunities in Nigeria’s dynamic beverage market.
About Guinness Nigeria Plc
Guinness Nigeria, is the foremost Total Beverage Alcohol company in Nigeria with a wide portfolio of brands catering to consumers of non-alcohol and alcohol beverages including Malts, Ready-to-Drinks, Spirits, Stout & Beers. Some of its well-known and well-respected brands include, Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Orijin Bitters, Dubic Malt, Gordons Pink Berry, Gordons Orange Sunset, Smirnoff Ice, Smirnoff X1 Choco Vodka, Smirnoff Pine-apple Punch, amongst others.
With a very clear ambition – “To be one of the best performing, most trusted and respected consumer products companies in Nigeria”, Guinness Nigeria delivers on its sustainability and responsibility commitments which are focused on three areas: Promoting Positive Drinking, Championing Inclusion and Diversity and Pioneering Grain to Glass sustainability. The company continues to be a champion for responsible drinking and community development.
The Forum of Former Deputies Governors in Nigeria has said that entrenching good governance is key to ending economic hardship and food insecurity in the country.
This was disclosed on Thursday in a communiqué signed by the National Chairman of FFDGN, Chris Akomas, after a two-day annual conference in Abuja.
In a 16-point communiqué from the convention held Tuesday and Wednesday, the former governors noted that improving good governance and sustainable economic growth should be the pillars of the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.
The former governors urged that all external borrowing by the Federal Government or sub-nationals should be judiciously applied to productive activities and public infrastructure development with an impact on citizens’ standard of living.
Accordingly, the FFDGN said that consultation for economic policy by the International Monetary Fund and the World Bank should be open and inclusive of all major stakeholders in Nigeria.
“Entrenching good governance is an imperative for achieving food security and sustainable growth in Nigeria as the central pillar of the Renewed Hope Agenda.
“Consultation for economic policy by the IMF and the World Bank should be open and inclusive of all major stakeholders in Nigeria.
“Every effort should be made to ensure that funds from external borrowings by the Federal Government and sub-national governments should be judiciously applied to productive activities and public infrastructure development with impact on citizens’ standard of living.”
On policies to drive agricultural development, the FFDGN said the government should strive to depoliticise the sector for real-time impact on the lives of citizens.
“That government should strive to depoliticise agriculture in Nigeria by prioritising community data banks of genuine farmers in all support programs.”
The forum added that the Bank of Agriculture should be revamped to meet the yearnings of Nigerians.
“The Bank of Agriculture should be revamped to live up to its responsibilities,” it stated.
Earlier, DAILY POST recalls that the convention under the chairmanship of former Akwa Ibom State governor, Victor Attah, was declared open by the National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje.