Economy
Digital Financial Inclusion, Poverty, Hawkers, Daddy Freeze & Tithe
By Nneka Okumazie
If an individual hawks stuff around, who is responsible for that situation, and whose responsibility is it to lift that individual out of poverty?
Factors responsible for poverty may include income, purchasing power, conditions of living, trade and monetary policies. There are some who are impoverished but aren’t hawking. What drives people to hawk and how much has Africa done to find solutions to hawking?
Poverty in Africa is super complicated. The whole thing may be onerous to extricate, but fragments of it could find solutions if massive studies and efforts are thrown at it.
There are telecom companies who branded poor retailers of their products, with umbrellas, clothes, chairs, tables, etc. There are beverage and fast moving consumer goods companies who have also given branded boards, posters, merchandises to poor retailers as well. There are often promos, offers, credit services, microfinance, etc. for many of these retailers. Sometimes, it doubles as marketing or for social optics.
However, most of these are palliatives for poverty, not structures for economic elevation. Financial inclusion, can also – simply – be described as a way of providing banking services for the poorest. It is helpful and necessary.
But where does financial inclusion fit for majority of poor people: palliative or elevator? Some may argue that most poor traders have found a way around saving from time, while others may argue that there has been no other time in Africa, where direct financial services are provided to the poor.
Africa is buzzing with new stuff especially platforms that technology enabled. But where are the solutions? Where are the studies? Where is the activism, or rage against hawking? How many University centers are there to study and prevent hawking? How many corporations are making efforts to reduce the amount of hawkers of their product, to have more shop-based or stationary retailers?
Hawkers are ignored, seen as normal and forsaken, except when there is something to benefit from them. Hawking is abnormal, horrific and should be discouraged enough that it should be the impossible option. But, nothing is done, by those who have knowledge, or by those whose products they sell – directly or indirectly, or by those who can make the policies to help them collectively.
Often people give one answer to poverty, or hawking, saying do this, then that, etc. But NO, the complexities of Africa’s hardship require multiple studies, tests, models and experimentation – consistently – towards solution.
Christianity, Poverty and Taxes
Sometimes, the necessity of reviewing issues of poverty is because of the growing amount of people who blame Christianity for poverty in Nigeria, or in Africa.
Christianity is hated more than hawking, by those who have no value to improve the society except vague to-dos.
They have said people are brainwashed by Christianity. Meaning that for them all their opinions and views of everything they do is a hundred percent original, nothing from anywhere was ever accepted, so whoever accepts anything they didn’t create, or invent is brainwashed. No interest in genuine Christianity or in the Way does not mean those who have are brainwashed.
They also said Christianity is false hopes. But if there is no hope in hawking, where someone hawking had seen folks who hawked through life, or stayed poor through life, is it not better to have hope that may mean joy or that may mean endurance and ability to be strong, or have a sound mind?
True Churches are not the problem of the country, or the continent, no matter what statement is brandished by enemies of the Church.
Giving in a true Church is also not a scam, no matter the giving. It is optional, voluntary and in accordance with faith. No need to give if there is doubt of its use, or if feeling cheated.
Also, if there are questions about Christianity and the Power of GOD that aren’t satisfactorily answered, it does not invalidate the Truthfulness of the Word. Christianity is not the only thing that has unanswered questions. There are tons of unanswered question – in spite of all the advances – in psychology, neuroscience, oncology, astronomy, atmospheric science, etc.
Christ said, “Pay therefore to Caesar the things that are due to Caesar, and pay to God the things that are due to God.” This means that if you believe you – may – give, as part of your faith, to GOD. The Scriptures did not tell us how the Churches in the Epistles gave during their services, or their general order of service but it is possible, they gave collectively for Church projects, for the welfare of the poor, for gospel witnessing, etc.
Taxes are important for any economy. There are all kinds of taxes for all categories of income and expenditures. Taxes well spent are like a great pillar for building and maintaining a society.
Poverty
The poverty in Africa is painful. Yes, it is not an excuse for laziness or for vices or for risky desperations, or for harm, or for lawlessness. But there are many, trying much to be lawful and good, but the failures of the society has precipitated them. It is so unfortunate and it doesn’t seem there are massive active efforts for poverty solutions in Africa, but who knows?
By Adedapo Adesanya
The Lagos Chamber of Commerce and Industry (LCCI) has noted that the N15.52 trillion allocation to debt servicing in the 2026 budget remains a significant fiscal burden.
LCCI Director-General, Mrs Chinyere Almona, said this on Tuesday in Lagos via a statement in reaction to the nation’s 2026 budget of N58.18 trillion, hinging the success of the 2026 budget on execution discipline, capital efficiency, and sustained support for productive sectors.
She noted that the budget was a timely shift from macroeconomic stabilisation to growth acceleration, reflecting growing confidence in the economy.
She lauded its emphasis on production-oriented spending, with capital expenditure of N26.08 trillion, representing 45 per cent of total outlays, and significantly outweighing non-debt recurrent expenditure of N15.25 trillion.
According to Mrs Almona, this composition supports infrastructure development, industrial expansion, and productivity growth.
However, she explained that the N15.52 trillion allocation to debt servicing underscored the need for stricter borrowing discipline, enhanced revenue efficiency, and expanded public-private partnerships to safeguard investments that promote growth.
She added that a further review of the 2026 budget revealed relatively optimistic macroeconomic assumptions that may pose fiscal risks.
“The oil price benchmark of $64.85 per barrel, although lower than the $75.00 benchmark in the 2025 budget, appears optimistic when compared with the 2025 average price of about $69.60 per barrel and current prices around $60 per barrel.
“This raises downside risks to oil revenue, especially since 35.6 per cent of the total projected revenue is expected to come from oil receipts.
“Similarly, the oil production benchmark of 1.84 million barrels per day is significantly higher than the current level of approximately 1.49 million barrels per day.
“Achieving this may be challenging without substantial improvements in security, infrastructure integrity, and sector investment,” she said.
Mrs Almona said the exchange rate assumption of N1,512 to the Dollar, compared with N1,500 in the 2025 budget and about N1,446 per Dollar at the end of November, suggests expectations of a mild depreciation.
She said while this may support Naira-denominated revenue, it also increases the cost of imports, debt servicing, and inflation management, with broader macroeconomic implications.
The LCCI DG added that the inflation projection of 16.5 per cent in 2026, up from 15.8 per cent in the 2025 budget and a current rate of about 14.45 per cent, appeared optimistic, particularly in a pre-election year.
She also expressed concern about Nigeria’s historically weak budget implementation capacity, likely to be further strained by the combined operation of multiple budget cycles within a single year.
Looking ahead, Mrs Almona identified agriculture and agro-processing, manufacturing, infrastructure, energy, and human capital development as key drivers of growth in 2026.
She said that unlocking these sectors would require decisive execution—scaling irrigation and agro-value chains, reducing power and logistics costs for manufacturers, and aligning education and skills development with private-sector needs.
The LCCI head stressed the need to resolve issues surrounding the Naira for crude, increase the supply of oil to local refineries to boost local refining capacity and conserve the substantial foreign exchange used for fuel imports.
“Overall, the 2026 Budget presents a credible opportunity for Nigeria to transition from recovery to expansion.
“Its success will depend less on the size of allocations and more on execution discipline, capital efficiency, and sustained support for productive sectors.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed Santa Claus rally on Wednesday after it closed higher by 0.12 per cent.
Strong demand for Nigerian stocks lifted the All-Share Index (ASI) by 185.70 points during the pre-Christmas trading session to 153,539.83 points from 153,354.13 points.
In the same vein, the market capitalisation expanded at midweek by N118 billion to N97.890 trillion from the preceding day’s N97.772 trillion.
Investor sentiment on Customs Street remained bullish after closing with 36 appreciating equities and 22 depreciating equities, indicating a positive market breadth index.
Guinness Nigeria chalked up 9.98 per cent to trade at N318.60, Austin Laz improved by 9.97 per cent to N3.20, International Breweries expanded by 9.85 per cent to N14.50, Transcorp Hotels rose by 9.83 per cent to N170.90, and Aluminium Extrusion grew by 9.73 per cent to N16.35.
On the flip side, Legend Internet lost 9.26 per cent to close at N4.90, AXA Mansard shrank by 7.14 per cent to N13.00, Jaiz Bank declined by 5.45 per cent to N4.51, MTN Nigeria weakened by 5.21 per cent to N504.00, and NEM Insurance crashed by 4.74 per cent to N24.10.
Yesterday, a total of 1.8 billion shares valued at N30.1 billion exchanged hands in 19,372 deals versus the 677.4 billion shares worth N20.8 billion traded in 27,589 deals in the previous session, implying a slump in the number of deals by 29.78 per cent, and a surge in the trading volume and value by 165.72 per cent and 44.71 per cent apiece.
Abbey Mortgage Bank was the most active equity for the day after it sold 1.1 billion units worth N7.1 billion, Sterling Holdings traded 127.1 million units valued at N895.9 million, Custodian Investment exchanged 115.0 million units for N4.5 billion, First Holdco transacted 40.9 million units valued at N2.2 billion, and Access Holdings traded 38.2 million units worth N783.3 million.
By Adedapo Adesanya
Nigerian food and beverage company, Rite Foods Limited, has extended warm Yuletide greetings to Nigerians as families and communities worldwide come together to celebrate the Christmas season and usher in a new year filled with hope and renewed possibilities.
In a statement, Rite Foods encouraged consumers to savour these special occasions with its wide range of quality brands, including the 13 variants of Bigi Carbonated Soft Drinks, premium Bigi Table Water, Sosa Fruit Drink in its refreshing flavours, the Fearless Energy Drink, and its tasty sausage rolls — all produced in a world-class facility with modern technology and global best practices.
Speaking on the season, the Managing Director of Rite Foods Limited, Mr Seleem Adegunwa, said the company remains deeply committed to enriching the lives of consumers beyond refreshment. According to him, the Yuletide period underscores the values of generosity, unity, and gratitude, which resonate strongly with the company’s philosophy.
“Christmas is a season that reminds us of the importance of giving, togetherness, and gratitude. At Rite Foods, we are thankful for the continued trust of Nigerians in our brands. This season strengthens our resolve to consistently deliver quality products that bring joy to everyday moments while contributing positively to society,” Mr Adegunwa stated.
He noted that the company’s steady progress in brand acceptance, operational excellence, and responsible business practices reflects a culture of continuous improvement, innovation, and responsiveness to consumer needs. These efforts, he said, have further strengthened Rite Foods’ position as a proudly Nigerian brand with growing relevance and impact across the country.
Mr Adegunwa reaffirmed that Rite Foods will continue to invest in research and development, efficient production processes, and initiatives that support communities, while maintaining quality standards across its product portfolio.
“As the year comes to a close, Rite Foods Limited wishes Nigerians a joyful Christmas celebration and a prosperous New Year filled with peace, progress, and shared success.”
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