₦airaland Forum

Putindbutt:
Okey dokey, so the President should have three away the recommendations of all the institutions of the committee and shut out the approval of the members of the security council and then go on a prison tour to the entire prisons in the country by himself and start screening the prisoners across the country by himself.. Oya judge your IQ

See a typical Agbadoo reasoning

TimeManager:
It seems we are forgetting a very important part of this whole process. The President did not singlehandedly approve the pardon. A Presidential committee was inaugurated from across the spectrum and they came up with recommendations which were submitted to the council of state for approval.
Unfortunately, some people read only to comment and get likes but not to understand for future reference. This goes to show the level of our educational systems, producing graduates who are quick to talk but slow to understanding.

-Kiss the truth!

The presidential committee made recommendations, just that. Recommendations. The Council of State is advisory, not binding. Tinubu had the final say, and he chose to grant a pardon to someone convicted of murdering her husband. That decision speaks volumes about his values, and the optics are terrible no matter how many committees you hide behind.

And since you're so concerned about understanding, try understanding this: outrage isn't ignorance. People are angry because this pardon undermines justice not because they didn't read enough.

So instead of throwing condescending jabs at the education system from behind your keypad, maybe ask yourself why a murder conviction is being wiped clean and what message that sends to victims of domestic violence.

In the words of Abike Dabiri...

Laura shouldn't be speaking tongue-in-cheek.
She should speak plainly after all, she is a lady.


Beautiful ladies who don’t work but somehow earn more... doing what exactly?
What do these girls actually do to make more money than hardworking women in Nigeria?

Presidents have the constitutional power to grant pardons that’s not in question. But when someone with a history in the drug trade uses that power to free people convicted of similar crimes, it really raises eyebrows. It makes you wonder: is this about justice, or something more personal? Moves like this can erode trust in the legal system

Nice one. Nigerians are still waiting for the list of those who made donations to the National Library project, because they deserve to know who stood up for it.

OP, Agbadóos will invade this thread to ask one of their senseless questions: 'Do we spend dollars?'

Presidents have the constitutional power to grant pardons that’s not in question. But when someone with a history in the drug trade uses that power to free people convicted of similar crimes, it really raises eyebrows. It makes you wonder: is this about justice, or something more personal? Moves like this can erode trust in the legal system

kissingerliond:
“Eyi tí ó mú ọba dé itẹ̀, kò ní mú un dúró lórí.”

What brought a man to the throne may not keep him there. Obi’s 2023 fame was wind; 2027 demands weight.

If he doesn’t build roots and plant real structure, the same storm that lifted him will scatter him. Momentum may start a movement, but only machinery sustains it. PBAT, still the right man for the job.

For this 2025

Are you going to tell Nigerians the same 'he built Lagos from scratch' rhetoric, lies, falsehoods, and propaganda?

ejieddy:
Rather the Ferrari buys itself for Zlatan... Zlatan doesn't buy cars, cars buy themselves for Zlatan

As he once said "When you buy me, you are buying a Ferrari. If you drive a Ferrari, you put premium petrol in the tank, you hit the motorway, and you step on the gas."

2027 is about Tinubu and what he has done after grabbing, snatching, and running away with it.

It will be about the wicked and draconian policies, masquerading as economic reforms, that have only succeeded in inflicting untold hardship, hunger, strife, soaring inflation, skyrocketing fuel prices, unaffordable food, a devalued naira, and worsening insecurity.

It will be about the Renewed hope promises he made and broke. How many jobs has he created? What about shelter, are Nigerians better housed?

Are lives more secure than before?
And most importantly, has he fulfilled his singular promise of providing constant electricity, the very promise he said should determine whether he deserved to be voted for or not?

We were told he built Lagos from scratch. We were told he would bring in the brightest minds, eggheads and best brains to steer the economy. We were told Tinubu will handle economy, shettima will handle security. How have we fared

what we have seen and witnessed is a wrecked economy, inflicting pain and anguish on the people.

And they turn around to ask Nigerians to endure the pain calling it a necessary but painful surgery.

What will he say to Nigerians in 2027, after failing so woefully and spectacularly?

That is what 2027 will be about. Not Peter Obi and his tactics

Peter Obi is not the president. He holds no political office. He does not control policy, the economy, or the security apparatus of the nation. He is not the reason Nigerians are suffering.

JASONjnr:
This government isn't here to joke around.... Those big companies that usually bicot paying taxes will have to face it squarely.....

Is it what this thread is all about

•Oba Ewuare II reaffirms: only market women, not politicians, choose Iyeki


BENIN CITY – FOR the past weeks, the media have been inundated with the inauguration of an Iyaloja of Edo Market and the subsequent visit to the palace of the Oba of Benin where His Majesty, Omo N’Oba N’Edo Uku Akpolopkolo, Ewuare II told the delegation led by the daughter of President Bola Tinubu, Mrs Folahsade Tinubu-Ojo that the title of Iyaloja was alien to Benin customs and tradition.



But what they did not officially tell the Oba was that they had already done the inauguration before visiting the palace even though they had written to the palace and the state government as far back as April and July last year but they did not get any official reply from the two institutions.

The letter to the Oba sighted by Vanguard showed that there were political inclinations to the plan as it was written under the aegis of National Market Council of Nigeria (NAMCOM), a name that is not popular in any way in the state.


In the letter which was addressed to Oba Ewuare II, dated April 30th 2024 and titled “Introduction of the Edo State Iyeki-elect, Pastor Josephine Isi Ibhaguezejele,” the introductory paragraph: “Your Majesty, my name is Chief Dr Mujudat Folasade Tinubu-Ojo (FCIML), the Iyaloja-General of Nigeria, and the First Daughter of President Bola Ahmed Tinubu (GCFR).”

She then introduced Ibhaguezejele as Iyeki-elect and told the monarch that she would be in charge of the day to day running of all markets in the state and appealed to the Oba for support for her to succeed.

It is however generally believed that the motive behind their action was to galvanise support for President Bola Tinubu’s second term election in 2027 because of the huge number of women in the markets and their influence on the electorate.

But this seemed to have failed in Edo State because of the position of the palace and Oba Ewuare II who has never hidden his position on ensuring the sustenance of the customs and traditions of his people undiluted when he laid it bare before Tinubu-Ojo and those who accompanied her that there was no single woman controlling the entire markets in Benin Kingdom and the state and if there was any, it was obviously for the political interest of politicians. He said every market in Benin has its Iyeki that is chosen by the market women and brought to the palace for blessing.

The Oba of Benin then summoned a meeting of all the iyeki in all the markets in Benin City and directed, through his chiefs, that all the iyeki in any of the markets in Benin where there are no two leaders, with one appointed by Ibhaguezejele and the other by Blakky Ogiamen who was seen as supporter of the last administration of Godwin Obaseki, should continue to function. But in any market where there are two leaders loyal to the two women, they should be dissolved and a new one picked by the market women for submission to the palace.


Investigations by Vanguard indicated that there are some palace chiefs who are supporting Ibhaguezejele taking into consideration her boldness in going ahead with her activities despite protests against her especially the claim that she is not from Benin and that the culture and traditions of Esanland where she comes from are not the same with that of Benin and so would not be able to function as the head of any market in Benin Kingdom.

Tinubu’s daughter caught in Benin Iyaloja row
For alleged pecuniary reasons, these chiefs have not told her that she would meet a brick wall in her ambition to have one single leader of market women in the entire state, which it is believed may have encouraged her to invite Tinubu-Ojo to inaugurate her.

Protests
There was a plan to install Ibhaguezejele before the September 2024 governorship election in the state but it could not hold because of protests. When the plan resurfaced a few weeks ago, some women under the name, Edo State Market Women Association (ESMWA) protested against it. They said she is not of Benin extraction and that it was a negation of their age-long practice of having a Benin woman who understands the culture and tradition of Benin as their leader.

A letter signed by Mrs Florence Ahunwan, their coordinator and five others claimed that the alleged imposition of Ibhaguezejele was an injustice and a taboo “where a non-Benin, with no known inclination to the Benin tradition and custom, has been imposed to oversee the management of markets in Benin City and by extension, Edo State.”

Protest politically motivated — Ibhaguezejele
When contacted, Ibhaguezejele said the protest was politically motivated and that the allegations against her were false adding that the protesters were not known to the association she leads.


Iyaloja alien to Benin – Oba Ewuare II

The Oba of Benin, Omo N’Oba N’Edo Uku, Akpolokpolo, Ewuare II while receiving Tinubu-Ojo and her entourage in his palace clarified that ‘Iyaloja’-General also known as Iyeki-General nomenclature is alien to Benin tradition. Giving a historical account of how market structure operates in Benin and the priceless sacrifices of prominent past Benin Queens: Idia and Iden N’ Okpokhuo, in Benin Kingdom, Oba Ewuare II, highlighted the implications of undermining traditional roles in markets in Edo, which he explained does not discriminate against people irrespective of their political affiliation.

There’s nothing like Iyeki General in Benin — Benin Traditional Council

Meanwhile, in a widely circulated statement by the Benin Traditional Council (BTC) signed by five high profile palace chiefs and the Secretary of the BTC, the Benin Kingdom clarified its position and kicked against politicising the position. The signees were Osama of Benin, Chief Norense Ozigbo-Esere, Obazele of Benin, Chief Osaro Idah, Ine of Benin, Chief Okunoghae Edomwandagbon, Oliha of Benin, Chief Edionwe Oliha, Eribo of Benin, Chief Ada Igbinovia and BTC Secretary Frank Irabor
Part of the statement reads: “For the avoidance of doubt, Benin Traditional Council wishes to reiterate that in Benin, there is nothing like Iyeki General which this Iyaloja concept seems to imply.

In Benin culture, Iyeki emerges among the market women. After being chosen by the market women, she is brought to the Palace for confirmation. Once confirmed, they are told to go ahead and install her as the Iyeki of the market. The Palace never chooses anybody as Iyeki. It is the market women that do that. Every Iyeki is independent of each other.

Every Iyeki is culturally, spiritually and religiously tied to the Palace. There is a direct functional relationship between Iyeki and the Palace. Just as there is no honourary chieftaincy title in Benin culture, so also there is no honourary Iyeki title in Benin culture. Every Iyeki has a spiritual function she performs for the Palace and for the well-being of the market. We strongly advise that the function of Iyeki should not be politicised. Any deviation from this age-old cultural system may lead to a breach of the peace.

“The Palace has observed that for some time now our markets have become a veritable tool in the hands of partisan politicians and unscrupulous individuals to express themselves for their personal benefit. This situation has persisted since even long before the present administration.

“While the Palace takes a deem view of such alien concept of “Iyaloja” being introduced into the market system of Edo culture, it is also pertinent to point out that the Palace has serious reservations about the tendency of market women allowing themselves be used as political pawns in the political field under the aegis of market associations in Edo State.

“We want to emphasize that this administration is doing wonderfully well for everyone and do not need the Iyaloja concept to guarantee anything. The Palace feels that if we were duly consulted about what the tradition says about Iyeki role in Benin tradition all the ensuing controversy or tension would have been avoided. The Palace, although not partisan, strongly supports state government administration.

“We do not know the aim of this Iyaloja concept being introduced to Edo State. We hope if it is a national thing then Iyaloja of Lagos (or Nigeria) must extend this concept to the other states in Nigeria before we can believe its authenticity and motive. We also have a question: Can an Edo woman be made the Iyaloja of Lagos or of Nigeria? Can this concept of Iyaloja be extended to Aba, Owerri, Keffi, Kaduna, Kano, Sokoto and other parts of Nigeria?” It is hoped that this position of the palace would put to rest every controversy this had generated.

Historical background of ‘Iyaloja’ General of Nigeria
Origins and traditional role


The title “Iyaloja General of Nigeria” — literally “Mother of the Market” — is a position of great traditional, economic, and sociopolitical significance in Nigerian commerce and grassroots leadership, particularly among the Yoruba people of southwestern Nigeria. The Iyaloja title originated among the Yoruba, one of Nigeria’s largest ethnic groups, where commerce and open markets (Íjà) have long been central to community life.

“Iyaloja” combines “Iya” (mother) and “Oja” (market), meaning “Mother of the Market.” Traditionally, she was the female leader and representative of market traders, chosen for her wisdom, fairness, and influence in business. The Iyaloja served as a liaison between traders and the traditional ruler (Oba) or local government, helping maintain order, resolve disputes, set levies, and ensure fair trade practices.

Her male counterpart was known as the Babaloja (“Father of the Market”).

This market leadership system predates colonial rule and reflects the Yoruba tradition of women’s active participation in commerce — a vital part of precolonial urban economies in cities like Ibadan, Abeokuta, and Lagos.

Colonial and postcolonial evolution
During British colonial rule in the 19th–20th centuries, markets were key hubs of taxation and local governance. The colonial authorities often recognized and worked with Iyalojas to maintain order and collect market dues.


Women leaders like Madam Efunroye Tinubu of Lagos (c. 1810–1887), one of the earliest and most powerful traders in West Africa, exemplified the role’s political and economic influence. After independence, the Iyaloja institution persisted as a semi-formal governance structure in urban and rural markets, blending traditional authority with modern economic organization.

Emergence of the Iyaloja General
While each major market or city traditionally had its own Iyaloja, the idea of a nationally recognized Iyaloja General emerged later — as market associations became more organized and interconnected across states. The Iyaloja General of Lagos became especially influential due to Lagos’ economic dominance.

The most prominent holder of the modern title was Chief (Mrs.) Abibatu Mogaji, mother of Bola Ahmed Tinubu (now President of Nigeria). She was widely regarded as the Iyaloja General of Nigeria, given her leadership of the Market Men and Women Association across the country for several decades until her death in 2013. After her passing, her granddaughter Mrs. Folashade Tinubu-Ojo was installed as the new Iyaloja General, continuing the family’s influence in the role.

Functions and influence today
The Iyaloja General serves as: The head of all market associations and market leaders across Nigeria;
A bridge between government and traders, often consulted on policies affecting trade, taxation, and local commerce; A mobilizer of market women, a group that constitutes a major political and economic bloc in Nigeria. Her office wields considerable grassroots influence, as market associations are among the largest informal-sector organizations in the country. The position, though traditional, has become intertwined with political networks, women’s empowerment, and economic advocacy.

Cultural and political significance
The Iyaloja General embodies: Continuity of Yoruba matriarchal leadership traditions in trade and social organization; A symbol of women’s power in a largely male-dominated political space; A platform for grassroots mobilization, making the holder a figure of both traditional and contemporary relevance. Today, the title has transcended ethnic boundaries — the “Iyaloja General of Nigeria” is recognized nationally as the chief spokesperson for traders and market women, even though its roots are distinctly Yoruba

https://www.vanguardngr.com/2025/10/how-benin-palace-shut-down-iyaloja-politics-in-edo-markets/

AMINDA:
Square peg in a round hole. Beyond these theatrics, what has he achieved so far in the mining sector?

Absolutely nothing

xxxxx

The African Democratic Congress has urged the newly appointed Chairman of the Independent National Electoral Commission, Professor Joash Amupitan (SAN), to place his loyalty with the Nigerian people rather than the ruling APC government, emphasising the need to restore public confidence in the nation’s electoral system.

In a statement issued on Thursday, ADC’s National Publicity Secretary, Bolaji Abdullahi, said the coalition party is ready to extend the nominated INEC Chairman the benefit of the doubt.

The ADC expressed hope that the new INEC chairman would be driven by a personal commitment to perform better.

He stated, “We are cautious. But we expect the new INEC chairman to have a personal ambition to do better and restore the confidence of Nigerians and the world in the Nigerian election.

“He must understand that his loyalty is with the Nigerian people, not the government. We are willing to give him the benefit of the doubt based on his track record. But now he has the opportunity to make a good name for himself that his children would be proud of, or to soil his record and end up with ignominy.

“He should bear in mind also that his tenure will ordinarily last beyond one electoral cycle. He should therefore look beyond the interest of those who have appointed him.”

PUNCH Online reports that the National Council of State, on Thursday, unanimously endorsed the appointment of Amupitan as the new Chairman of INEC. https://punchng.com/breaking-council-of-state-approves-amupitan-as-new-inec-chairman/

According to a statement shared on X by Presidential aide, Bayo Onanuga, President Bola Tinubu presented Amupitan’s nomination during the Council’s meeting held on Thursday at the Presidential Villa, Abuja.

The appointment comes after Professor Mahmood Yakubu’s 10-year tenure ended in October 2025.

Tinubu noted that Amupitan, a 58-year-old law professor from Kogi State, is the first person from the North-Central region to be nominated for the position


https://punchng.com/be-loyal-to-nigerians-not-apc-adc-tells-new-inec-chair/#google_vignette

VladimirTheGrea:
Atiku supporters resign en masse??

Which office where they occupying prior to their resignation?

OP, you should learn to compose your self properly in public space. This forum is not meant to disseminate misinformation like touts at motor parks!

Help me ask the Agbadóos

Very soon, he will create a thread about how the Atiku supporters who resigned en masse have now gotten jobs en masse as Tinubu supporters?

AMINDA:
But the FCT Minister of State was at the meeting. What was she doing there?

You should know by now that Agbadó reasoning is something else.

According to them, the FCT Minister of State was there on her own not by invitation.

seunmsg:
That Enugu APC chairman that was making mouth in the morning can now go and rest. Peter Mbah is a done deal and Enugu is fully APC.

Enugu is not APC; rather, the governor, Mr. Peter Mbah, is.

Note the difference

DomPerignon:
What in God's holy name are these people up to?

How can you be declaring yourself as kings in another man's land and erecting throne palaces to boot?

Is there something fundamentally wrong with this long lost descendants of Philistines?

But this is a 'social event,' as a Tinubu supporter said in a thread defending Sade Tinubu, the Iyaloja General of Lagos, for going into the Benin Kingdom to install an Iyaloja of Benin even though the Oba of Benin, Ewuare II, warned that such a title is alien to Benin culture

Welcome on board,

Congratulations, Prof. Joash Amupitan.

This is an opportunity to write your name in gold as someone under whose watch INEC conducted the fairest and freest election, devoid of any manipulation. An election where every Nigerian's vote counted, and results were uploaded from polling units and electronically collated not this manual collation process that has wrecked our elections, allowing politicians, in connivance with crooked INEC officials, to manipulate and alter votes.

Lithiumite:
It's a social event between market women and should be regarded as appropriate.... There are igwes all over Yoruba land so are there obas all over the place in the north and SE and no one bothers about that......Sade tinubu holds no official position under the constitution and her actions should be regarded as mere socio cultural frivolities and nothing more......we have more pressing issues in Nigeria right now than all these unnecessary bickering.

Social event' in your own wild imagination.

A so called social event with an undertone of political dominance

Ttalk:
Look at how Obidients are throwing insult up and down, anyone who challenge Obi or support Tinubu is an enemy that must be killed.

Why cant Obidients use their head in this slippery political turf. 2027 is around the corner and you will get the results of all these hatred filled with insult

You are a major culprit of the very things you accuse others of.

And what has been the result of your Emilokan-driven, bitter brand of tribal and ethnic bigotry in politics? A regime now widely regarded as the worst in this country’s history.

Listening to Orji Uzor Kalu declare and arrogate to himself the title of the most important politician in the South East is laughable. Maybe within the APC, he is seen as the most prominent figure from the region, but he is certainly not the most important politician in the South East. Even Peter Obi, who is far more loved and commands greater respect and followership in the region, would not arrogate such a title to himself.

Kudos to the Governor.
While some are moving forward and embracing the idea of One Nigeria regardless of tribe, ethnicity, or religion others are dragging the country back to the Stone Age by engaging in the Emilokan bitter politics of tribal and ethnic bîgótry.

The Presidency has disputed the latest economic report by Nigeria’s biggest multilateral lender, the World Bank, which estimated that 139 million citizens were living in poverty, describing the figure as “unrealistic” and detached from the country’s economic realities.

President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, said in a post on his official X handle on Wednesday that the poverty figures must be “properly contextualised” within the limits of global poverty measurement models.

“While Nigeria values its partnership with the World Bank and appreciates its contributions to policy analysis, the figure quoted must be properly contextualised. It is unrealistic,” Dare said.

The Presidency explained that the 139 million figure was derived from the global poverty line of $2.15 per person per day, set in 2017 using Purchasing Power Parity, and should not be mistaken for an actual headcount of poor Nigerians.


It noted that when converted to nominal terms, the $2.15 benchmark equals about N100,000 per month at current exchange rates, which is well above Nigeria’s new minimum wage of N70,000.

“There must be caution against interpreting the World Bank’s numbers as a literal, real-time headcount. The estimate is derived from the global poverty line of $2.15 per person per day, a benchmark set in 2017 Purchasing Power Parity terms. If converted nominally, that figure equals about $64.5 per month, or nearly N100,000 at today’s exchange rate, well above Nigeria’s new minimum wage of N70,000. Clearly, the measure is an analytical construct, not a direct reflection of local income realities.

“Poverty assessment under PPP methodology uses historical consumption data (Nigeria’s last major survey was in 2018/19) and often overlooks the informal and subsistence economies that sustain millions of households. The government, therefore, regards the figure as a modelled global estimate, not an empirical representation of conditions in 2025. What truly matters is the trajectory, and Nigeria’s is now one of recovery and inclusive reform,” the statement added.

According to the former minister, poverty estimates under the PPP methodology rely on historical consumption data, often overlooking the vast informal and subsistence economies that sustain millions of Nigerian households. The government, therefore, considers the World Bank’s estimate as “a modelled global projection, not an empirical representation of living conditions in 2025.”

He stressed that what truly matters is not the static figure but the direction of change. It said Nigeria’s economy is now on a recovery and reform trajectory, driven by policies designed to ensure inclusive growth and social protection.

It noted that the current administration had expanded a number of welfare and intervention programmes aimed at cushioning the impact of recent reforms, while laying the groundwork for long-term prosperity.

Among the key initiatives Dare highlighted are, “Conditional Cash Transfers: Expanded to reach up to 15 million households nationwide, with verified digital enrolment through the National Social Register. Over N297 billion has been disbursed since 2023 to poor and vulnerable families. Renewed Hope Ward Development Programme: A major new initiative targeting all 8,809 electoral wards, delivering micro-infrastructure, livelihoods, and social services directly at the community level.

“National Social Investment Programmes: Strengthened components such as N-Power, GEEP micro-loans (TraderMoni, MarketMoni, FarmerMoni), and Home-Grown School Feeding to protect jobs, encourage small enterprise, and keep children in school. Food Security Initiatives: Distribution of subsidised grains and fertilisers, mechanisation partnerships, and the revival of strategic food reserves to curb inflationary pressure on staples.

“Renewed Hope Infrastructure Fund: Financing critical energy, road, and housing projects to lower living costs and stimulate local employment, National Credit Guarantee Company: Expanding affordable credit to small businesses, women, and youth entrepreneurs through risk-sharing mechanisms with commercial banks.”

The Presidency maintained that the Tinubu administration was tackling Nigeria’s poverty challenge by addressing the structural distortions that have constrained productivity and inclusive growth for decades.


It cited ongoing reforms such as fuel subsidy removal, exchange rate unification, and the fiscal reallocation of funds toward productive sectors, describing them as “painful but necessary choices” to fix the root causes of poverty rather than its symptoms.

“Even the World Bank itself has acknowledged that these reforms are already restoring macroeconomic stability and growth momentum,” the statement added, referencing recent remarks by World Bank officials acknowledging signs of economic recovery under the Tinubu administration.

The government emphasised that economic recovery alone is not enough unless it translates into real welfare gains for ordinary Nigerians.

According to the statement, the administration’s medium-term priority is to ensure that macroeconomic stability leads to affordable food, quality jobs, and reliable infrastructure.

Investments are being ramped up in agriculture, manufacturing, and power reliability, including new gas-to-power projects and skill development hubs expected to boost job creation and reduce living costs.

“Nigerians should begin to feel more visible improvements in food prices, income, and purchasing power as these programmes mature,” the statement said.

The Presidency added that the administration is consolidating its social protection architecture by integrating all welfare programmes under a unified, data-driven framework to enhance transparency and accountability.

This integration includes expanding the National Social Register and scaling up existing NSIP schemes, ensuring that “no vulnerable community is left behind.”

The Presidency concluded by reaffirming President Tinubu’s commitment to building “a resilient and inclusive economy” where growth directly improves living standards.

“Nigeria rejects exaggerated statistical interpretations detached from local realities. The government remains focused on empowering households, expanding opportunity, and laying the foundation for a fairer, more prosperous nation,” the statement concluded.

Earlier on Wednesday, the global lender expressed concern that despite Nigeria’s recent economic stabilisation efforts, about 139 million Nigerians are now living in poverty, warning that the country risks losing hard-won reform gains if policies are not translated into tangible improvements in citizens’ welfare.

The World Bank Country Director for Nigeria, Mathew Verghis, disclosed this at the launch of the October 2025 Nigeria Development Update titled, “From Policy to People: Bringing the Reform Gains Home.”

Verghis, in his address, commended Nigeria’s bold reforms in the exchange rate and petroleum subsidy regimes, describing them as “foundational” steps that could reshape the country’s long-term economic trajectory

“Over the last two years, Nigeria has commendably implemented bold reforms, notably around the exchange rate and the petrol subsidy. These are the foundations on which the country has the opportunity to build a programme that can transform its economic trajectory,” he said.


He likened the current reform window to the historic policy shifts seen in countries like India in the early 1990s, noting that such rare opportunities must be seized decisively or risk being lost.

According to him, the reforms are already yielding results, growth is picking up, revenues have risen, debt indicators are improving, the foreign exchange market is stabilising, reserves are climbing, and inflation is gradually easing.

“These results are exactly what you need to see in a stabilisation phase. These are big achievements, and many countries would envy them,” he noted.

However, the World Bank chief cautioned that these macroeconomic improvements had yet to translate into improved living conditions for ordinary Nigerians.

“Despite these stabilisation gains, many households are still struggling with eroded purchasing power. Poverty, which began to rise in 2019 due to policy missteps and external shocks such as COVID-19, has continued to increase even after the reforms. In 2025, we estimate that 139 million Nigerians live in poverty,” he revealed.

The new figure indicates a sharp increase from 129 million recorded in April 2025 and 87 million in 2023, reflecting the deepening hardship among households despite ongoing economic reforms.

Mixed reactions
Although the Presidency has disputed the figure, Nigeria’s opposition parties, economists, and labour leaders took turns to criticise or commend President Bola Tinubu’s administration, arguing that the deepening hardship across the country shows that its much-touted economic reforms have yet to translate into tangible relief for ordinary citizens.

The Labour Party’s Interim National Publicity Secretary, Tony Akeni, said the figures reflect the grim realities of life in the country.

“While the President talks about growth and reduced inflation, these are only figures on paper. They haven’t translated into any advantage for the ordinary Nigerian,” Akeni said.

He urged the government to ensure its economic reforms begin to yield tangible results, adding that the continuous fall of the naira has pushed many into extreme poverty.

“In some places, people earn maybe a dollar or two a day. It’s crazy,” he said.

Similarly, the New Nigeria People’s Party’s spokesman, Ladipo Johnson, accused the government of worsening Nigeria’s debt crisis and failing to cushion the impact of its policies.

“The President keeps proposing new loans even after exceeding budget targets. These contradictions point to more perils for Nigeria,” Johnson said, warning that the poverty rate could rise further before year-end.


He urged civil society groups and opposition parties to hold the government accountable, adding, “Unless civil society and political parties come together to scrutinise this government, it will plunge the country over the cliff.”

The Peoples Democratic Party’s Deputy National Youth Leader, Timothy Osadolor, accused the government of deceiving Nigerians about its achievements.

“We don’t need the World Bank or the UN to tell us there’s hunger in the land. You can see it on the faces of Nigerians everywhere,” Osadolor told The PUNCH.

He advised the President to use the remainder of his tenure to restore public confidence.

“Nigerians are dying of poverty. If the President cannot resign, he should at least work to save his name before history judges him.”

Also reacting, the African Democratic Congress National Publicity Secretary, Bola Abdullahi, said government’s claims of progress were “meaningless.”

“The GDP numbers mean nothing because they don’t reflect the lives of ordinary Nigerians. We’re glad the World Bank has said it, maybe the government will listen to its friends if they don’t want to listen to us,” he added.

The Assistant General Secretary of the Nigeria Labour Congress, Chris Onyeka, said workers do not need World Bank or IMF data to understand the depth of poverty in Nigeria.

“We know the truth. Millions are struggling to meet basic needs,” he said, noting that inflation, a weak naira, and rising food and housing costs have eroded the value of the N70,000 minimum wage.

He lamented that the wage, worth about $46 monthly, “barely covers the cost of a bag of rice.”

Onyeka added that the daily experiences of workers show that “poverty is not an abstract statistic; it is lived reality,” urging the government to prioritise welfare and workplace rights.

Economists say the effort to fix Nigeria’s economy has temporarily worsened poverty levels due to inflation and policy shocks.

The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said there was a lag between reforms and their positive impact.

“The process of fixing what’s broken has aggravated poverty,” he said, explaining that exchange rate unification and fuel subsidy removal spiked inflation and weakened purchasing power.


Yusuf added that while macroeconomic stability was improving, the next step must focus on reducing the cost of living through targeted interventions in agriculture, infrastructure, and energy.

“We need different policies now to address welfare directly,” he added.

Former University of Uyo Vice-Chancellor, Prof. Akpan Ekpo, said growth alone could not reduce poverty without deliberate policies.

“You can’t grow at four per cent and expect poverty to drop. Growth must be double-digit and sustained for years, like China did,” he said.

He urged the government to invest in human capital and skill development instead of relying on temporary palliatives.

“Cash transfers won’t solve poverty; deliberate government policy will,” he added.

However, former Chartered Institute of Bankers of Nigeria President, Okechukwu Unegbu, said the Bretton Woods institutions often exaggerated Africa’s problems.


“I don’t believe everything the World Bank says, but there’s no denying poverty is everywhere,” he said. “The question is whether the government is serious about tackling it.”

Proshare Nigeria Chief Economist, Teslim Shitta-Bey, described Tinubu’s reforms as necessary but said their adverse effects on the poor must be addressed.

“Exchange rate unification and subsidy removal were inevitable, but the challenge now is ensuring the gains reach ordinary Nigerians,” he told The PUNCH.

He said the economy is on a growth path, with GDP expected to reach 4.4 per cent by year-end, but called for improved power supply and digital skills training to help citizens benefit from global opportunities.

“The world rewards multiple income streams; Nigeria must prepare its people to earn globally,” he said


https://punchng.com/presidency-rejects-world-banks-poverty-report/

DomPerignon:
Same AI slop opening that reads exactly like the attempted but failed hit piece posted by one Ofunaofu in this useless thread https://www.nairaland.com/8530829/peter-obi-addiction-domperignon-cant
You guys are so inept that you need daft AI to help you create your dumb posts.

I can feel your deep pain and anguish especially as Peter Obi clearly lives rent free in your medulla oblongata, compelling you to use your own fingers to type thread after thread about him. Sadly, they’re nothing more than masterpieces of ignorance. It must be exhausting to be this effortlessly misguided.

Lithiumite:
This matter is being overflogged for political propaganda in an infantile attempt to espoused a nuanced narrative that the palace and tinubu are at war.....far from it.....the oba has made his clarification and everyone appreciates his elucidation of the matter as the paramount custodian of Benin culture and so be it.....the installation by Sade tinubu is purely a social affair and nothing more.

Why would Tinubu's daughter come to Benin to install an Iyaloja?

Did you also read in the statement where it asked: Can a Benin woman be made an Iyaloja in Lagos? Can Tinubu’s daughter, who claims to be the Iyaloja of Lagos or Nigeria, also go to Kano, Zamfara, Borno, Aba, and other places to install her own Iyaloja?

He is much more patriotic than Tinubu

Nijaforward:
Atiku has integrity than Tinubu…100% …..

Fact

Proudlyngwa:
Why should he focus on the message and not the messenger, when the messenger is tainted with hypocrisy and a penchant to hoodwink

For the purpose of this thread, is the messenger a d...lórd, idéntity thiéf, certificáte fórgér, and buccaneering power grabber engaging in crîmînál state capture?

Comfyonos2019:
Atiku , abeg leave politics. Nigeria need younger leaders

And the young leaders include Tinubu, the ancestor.

What can one reasonably expect from a government that has become notorious for disseminating lies, falsehoods, and propaganda?

Since assuming office, this administration’s consistent job has been the implementation of harsh, draconian policies that have inflicted widespread pain, anguish, and hardship on the Nigerian populace. Now, the same government urges citizens to "endure the pain," describing it as a necessary sacrifice a painful but essential economic surgery.

One is left to question whether the primary objective of the Tinubu-led APC regime is to govern or merely to perpetuate suffering and inflict pains