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Nigeria's Economic Reforms: The Unanswered Question...

The World Bank has admitted that poverty in Nigeria rose alongside the reforms it recommended. Yet it still insists the country should “stay the course.” At the same time, some supporters argue Nigeria is now being praised globally as a reform example.
That should make us think carefully.
Reform itself isn’t the problem. Every serious economy reforms, but reform must answer one question: whom does it serve?
If subsidy removal and exchange rate reforms strengthen the economy, why do ordinary Nigerians feel weaker? FAAC allocations grew in reality, but where are these allocations? Was it the astronomically increased inflation, the giant that swallowed them? To me, I’d think it’s mismanagement and inflation. And if debt repayment looks better on paper, why are families struggling to afford food?
Macroeconomic numbers can look plausible while households quietly fall apart or suffer. GDP can rise, debt payments can be on time. But none of that matters if the market trader, civil servant, or small business owner is barely surviving.
Being called a “global example” is pretty flattering. But come to think of it, what example? Fiscal discipline and loan repayment? That’s fine for lenders. But governance should definitely not be a creditor showcase.
One thing people should understand is that the Bank ensures loans are repaid. Nigeria’s first duty, however, is to its citizens.
Look at China. Its reforms lifted more than 500 million people out of poverty. These reforms were gradual, and they focused on production and jobs. China's poverty reduction wasn’t a side effect but its main goal.
Nigeria's reform, on the other hand, feels like adjustment without protection. If reforms are increasing poverty, asking hard questions isn’t disloyal; it’s necessary.

Nigeria's Economic Reforms: The Unanswered Question...
Back Page
14-Feb-2026

It's not all a Laughing Matter, Elumelu explains Closed Door Discussion with Tinubu

President Bola Tinubu on Friday met with Tony Elumelu, Chairman, United Bank for Africa (UBA) Group PLC, to advance plans for economic growth and tax reforms aimed at strengthening small businesses.

Elumelu spoke with State House Correspondents after the closed-door meeting at the Presidential Villa, Abuja.

He said the discussions focused on how to strengthen small and medium-scale enterprises (SMEs), describing them as the engine of economic growth.

Elumelu said the president was passionate about “capacitising” SME operators and supporting young entrepreneurs across the country.

“Today we talked about small and medium-scale enterprises and how to further support Nigerian medium and small-scale enterprises. (SMEs)

” Mr. President is very passionate for my discussion about capacitising the small and medium-scale entrepreneurs in Nigeria, and I’m very happy to hear that, to feel that, to explain that, because they are the engine of economic growth,” Elumelu said.

He said Tinubu explained that ongoing tax reforms would be used to boost SMEs and widen opportunities for enterprise growth.

Elumelu said the president also discussed the Bank of Industry (BOI) and expressed satisfaction with its current leadership and performance.

He said the alignment between government priorities and private sector support for entrepreneurs was encouraging for Nigerian youths.

Elumelu, a member of the President’s Economic Council, said he also briefed Tinubu on his assessment of current economic trends.

He said the monetary policy direction of the Central Bank of Nigeria was “quite encouraging,” noting improved stability and predictability.

Elumelu, who is also the Chairman, Heirs Holdings, a leading pan-African investment company said that foreign exchange access was no longer a dominant concern in the banking sector, compared to previous periods.

On the power sector, he said the meeting also addressed the need to improve electricity supply for economic development.

Elumelu said Tinubu expressed commitment to fast-tracking payments owed in the power sector to enable generation companies increase supply.

He described electricity access as critical to driving productivity, business growth and national development.

Elumelu thanked the president for his commitment to SMEs, youths entrepreneurship and efforts to energise the power sector.

Credit NAN: Texts excluding Headline

It's not all a Laughing Matter, Elumelu explains Closed Door Discussion with Tinubu
Economy
14-Feb-2026

NIN Registration: NIMC kicks off Nationwide Ward-Level Enrollment on Monday

The National Identity Management Commission beginning from next week Monday, will commence registration, enrollment and issuance of the National Identification Number (NIN) at the grassroots and wards nationwide.

A Statement issued by the Commission's Head of Corporate Communications, Kayode Adegoke, says the nationwide exercise is designed to ensure the comprehensive registration of every Nigerian citizen and legal resident, including children and adults, into the National Identity Database.

"The enrollment will be conducted free of charge, in furtherance of the Federal Government’s renewed hope agenda of President Bola Tinubu aimed at promoting inclusive governance, national development, and access to identity services"

According to the statement, the ward-level enrolment initiative represents a strategic step towards deepening identity inclusion, decentralising services, and bringing registration to the ward level (communities), thereby improving accessibility, reducing travel burden, and promoting nationwide participation.

The NIMC encourages all Nigerians and legal residents who are yet to enroll to take advantage of this opportunity and participate fully in the exercise.

Following this development, the Commission has started engaging stakeholders at the national, state, and local government levels with sensitisation and awareness campaigns on the importance of, benefits of, and use of NIN.

State governments, heads of local governments, traditional rulers, community leaders, and market associations, as well as faith-based organisations, are being consulted to ensure a smooth and seamless registration across all the wards nationwide.

Members of the public have also been encouraged to come out en masse to take advantage of the ward-to-ward enrollment exercise to enroll their children, parents, wards, and family members within their community.

The ward enrolment schedules that will guide the rotational movement of licensed front-end partners and NIMC staff can be seen on the NIMC website: www.nimc.gov.ng.

For further inquiries, assistance, or complaint resolution, members of the public are advised to call the NIMC toll-free line via 08000616462.

Credit NIMC PR

NIN Registration: NIMC kicks off Nationwide Ward-Level Enrollment on Monday
News
13-Feb-2026

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