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May 29 and Quest for A New Nigeria

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May 29

By Jerome-Mario Chijioke Utomi

As the nation Nigeria stands at the exit door of President Muhammadu Buhari-led federal government and gazes at the May 29 inauguration date of incoming administrations at both state and federal government levels, it is important to underline that the protracted leadership crisis witnessed at both state and federal levels occurred not because the democracy and federal systems we practice are on their own bad or unable to provide the needed solution to the nation’s array of political and economic needs, but because too many politicians and public office holders exercised power and responsibility not as a trust for the public good, rather, but as an opportunity for private gain.

This glaringly deformed leadership style has left the nation with three separate but similar harsh effects; first, it destroyed the social infrastructures relevant for a meaningful and acceptable level of the social existence of the people.

Secondly, making the nation’s economy go against the provisions of the constitutions as an attempt to disengage governance from public sector control of the economy has only played into waiting for the hands of the profiteers of goods and services to the detriment of the Nigerian people.

Thirdly and very key, conspired and visited the nation with myriads of sociopolitical contradictions stripped of social harmony, justice, equity and equality.

Adding context to the discourse, this is a kind of leadership crisis that happens when ‘lust for power prevails over granting people the love and care they deserve, when the interest and destiny of one individual become more important than those of the whole nation when the interests of some groups and cliques are served instead of those of all the people. In other words, this state of affairs happens when you put the people at the service of the government, in sharp contrast with the norm.

Aside from non-adherence to public opinion, which has no doubt thrown the economy into reserve and passed the burden onto the backs of Nigerians, this piece believes that the most ‘profound’ failure of the present administration (state and Federal) which the incoming administration must avoid if they are desirous of success, is their persistent inabilities to promptly respond to the socioeconomic need of Nigerians.

For example, the government’s shift of attention from job creation has undermined the feelings of Nigerians and shifted the distribution of income strongly in favour of those in government.

At the very moment, information released on April 11, 2023, by KPMG, a multidimensional consulting firm, disclosed that Nigeria’s unemployment rate would increase to 40.6 per cent in 2023 from 37.7 per cent in 2022. According to economic analysts, this was due to weak performance in the job-elastic sectors and low labour absorption of sectors that will drive growth.

In my view, the average Nigerian is worse off now, economically and materially, than he/she was in 2015. The people are living through the worst social and economic crisis since independence; poor leadership; poor strategy for development; lack of capable and effective state and bureaucracy; lack of focus on sectors that will improve the condition of living of citizens, such as education, health, agriculture and the building of infrastructure; corruption; undeveloped, irresponsible and parasitic private sector; weak civil society; emasculated labour and student movement and poor execution of policies and programmes’.

In the past 8years, the Nigerian workforce grew, but the number of manufacturing jobs has actually declined as a result of the relocation of these industries to neighbouring African countries. A development occasioned by the inability of the FG to guarantee security and electricity.

Jobs created by the federal government under the N-Power programme were part-time and not secured. Two third of those doing part-time jobs want full-time jobs and cannot find them. Unemployment is far and away from the top concern of Nigerians. Millions of workers have given up hope of finding employment.

This author is not alone in this line of belief.

At a recent lecture in Lagos delivered by the President of the African Development Bank (AfDB), Dr Akinwumi Adesina, titled: Nigeria – A Country of Many Nations: A Quest for National Integration, Dr Adesina lamented the high rate of joblessness among Nigerians, saying about 40 per cent of youths were unemployed. While noting that the youths were discouraged, angry and restless as they looked at a future that did not give them hope, he said all hope was not lost as youths have a vital role to play if the country should arrive at its destined destination.

Adesina spoke the mind of Nigerians. His words and argument were admirable, and most importantly, it remains the most dynamic and cohesive action expected of a leader of his class to earn a higher height of respect. The truth is that Nigerians have gotten used to such statistics while unemployment commentaries in the country have become a regular music hall act.

Take as an illustration, in the first quarter of 2021, a report published by the National Bureau of Statistics (NBS) on its website noted that Nigeria’s Unemployment Rate has risen from 27.1 per cent in the second quarter of 2020 to 33 per cent. Aside from making it the second highest on Global List, the NBS report, going by analysis, shows that ‘more than 60 per cent of Nigeria’s working-age population is younger than 34.

Unemployment for people aged 15 to 24 stood at 53.4 per cent in the fourth quarter and at 37.2 per cent for people aged 25 to 34. The jobless rate for women was 35.2 per cent compared with 31.8 per cent for men.

The recovery of the economy with 200 million people will be slow, with growth seen at 1.5 per cent this year, after last year’s 1.9 per cent contraction, according to the International Monetary Fund (IMF). The output will only recover to pre-pandemic levels in 2022, the lender said. The number of people looking for jobs will keep rising as population growth continues to outpace output expansion.

Nigeria is expected to be the world’s third-most-populous country by 2050, with over 300 million people, according to the United Nations. Unquestionably, while this quadrupling over the last five years, which has attracted varying reactions from well-meaning Nigerians, remains a sad commentary by all ramifications as it is both worrying and scary, the present development demands two separate but similar actions. First is the urgent shift from lamentation and rhetoric to finding solutions by asking solution-oriented questions. The second has to do with the implementation of experts’ advice/solutions to unemployment in Nigeria. This is indeed time to commit to mind the words of Franklin D. Roosevelt, former President of the United States of America, that “extraordinary conditions call for extraordinary remedies.”

Beginning with questions, it has become important for the incoming administration to ask what could be responsible for the ever-increasing unemployment rate in Nigeria. Is it leadership or the nation’s educational system? If it is faulty education sector-driven, what is the government (both state and federal) going to do to rework the policies since education is in the concurrent list of the nation’s 1999 constitution (as amended)? Are the leaders embodied with leadership virtues that the global community can respect? Or moral and ethical principles the people can applaud with enthusiasm?

Experts have pointed out that to arrest the drifting unemployment situation in the country, four sectors of ‘interest’ to watch are education, science and technology, agriculture and infrastructure.

On the educational system in the country, analysts are of the view that the education policies of the 6-3-3-4 system are excellent in the policy statement, but the inability of the financiers to provide the teaching tools for its success has truncated its intended goal and objectives. However, to arrest the unemployment challenge, they added, entrepreneurial programmes should be integrated into the educational system from primary schools to universities. Creativity, courage and endurance are skills that should be taught by psychologists to students in all classes of our educational system.

Nigeria, they explained, has to increase the number of her current Polytechnics, Colleges of Technology and Technical Colleges drastically in relation to the in-explicable very large number of Universities and related Academies in Nigeria’s economy in order to clearly address the training and development of professional and technical skills for Technologies and Industrial goods production in Nigeria’s Economy.

It is important, in my view, that any country like Nigeria, desirous of achieving sustainable development, must throw its weight behind agriculture by creating an enabling environment that will encourage youths to take to farming. First, separate from the worrying report that by 2050, global consumption of food and energy is expected to double as the world’s population and incomes grow, while climate change is expected to have an adverse effect on both crop yields and the number of arable acres, we are in dire need of solution to this problem because unemployment has diverse implications. Security-wise, a large unemployed youth population is a threat to the security of the few that are employed. Any transformation that does not have job creation as its main objective will not take us anywhere, and the agricultural sector has the capacity to absorb the teeming unemployed youths in the country.

The second reason is that globally, there are dramatic shifts from agriculture in preference for the white-collar jobs-a trend that urgently needs to be reversed. In the United States of America, there exists a shift in the locations and occupations of urban consumers. In 1900, about 40 per cent of the total population was employed on the farm, and 60 per cent lived in rural areas. Today, the respective figures are only about one per cent and 20 per cent.

Over the past half-century, the number of farms has fallen by a factor of three. As a result, the ratio of urban eaters to rural farmers has markedly risen, giving the food consumer a more prominent role in shaping the food and farming system. The changing dynamic has also played a role in public calls to reform federal policy to focus more on the consumer implications of the food supply chain.

Separate from job creation, averting malnutrition which constitutes a serious setback to the socio-economic development of any nation, is another reason why Nigeria must embrace agriculture – a vehicle for food security and a sustainable socio-economic sector. Agriculture production should receive heightened attention. In Nigeria, an estimated 2.5 million children under five suffer from severe acute malnutrition (SAM) annually, exposing nearly 420,000 children within that age bracket to early death from common childhood illnesses such as diarrhoea, pneumonia and malaria. Government must provide the needed support through funding, providing technical know-how and other specialised training.

For Nigeria to be all that it can be, the youth of Nigeria must be all they can be.” The future of Nigeria depends on what it does today with its dynamic youth population. This demographic advantage must be turned into a first-rate and well-trained workforce, for Nigeria, for the region, and for the world. The incoming administration must prioritise investments in the youth: in upskilling them for the jobs of the future, not the jobs of the past; by moving away from so-called youth empowerment to youth investment; to opening up the social and political space to the youth to air their views and become a positive force for national development; and for ensuring that we create youth-based wealth.”

On the imperatives of Infrastructural development such as roads, rail and electricity, the incoming government must recognize the fact that infrastructure enables development and provides the services that underpin the ability of people to be economically productive, for example, via transport. “The transport sector has a huge role in connecting populations to where the work is,” says Ms Marchal. Infrastructural investments help stem economic losses arising from problems such as power outages or traffic congestion. The World Bank estimates that in Sub-Saharan Africa, closing the infrastructure quantity and quality gap relative to the world’s best performers could raise GDP growth per head by 2.6 per cent annually.

For us to achieve the target objective in the rail sector, the incoming government must start thinking of a rail system that will have a connection of major economic towns/cities as the focus.

Achieving this objective will help the poor village farmers in Benue/Kano and other remote areas earn more money, contributes to lower food prices in Lagos and other cities through the impact on the operation of the market, increase the welfare of household both in Kano, Benue, Lagos and others while it improves food security in the country, reduce stress/pressure daily mounted on Nigerian roads by articulated/haulage vehicles and drastically reduce road accidents on our major highways.

In the area of electricity/power generation and distribution, there is an urgent imperative for the incoming government to openly admit and adopt both structural and managerial changes that impose more leadership discipline than conventional and create government institutions that are capable of making successful decisions built on a higher quality of information which needs to be granted.

To give an example, in 2005 and 2010, Chief Olusegun Obasanjo and Dr Goodluck Ebele Jonathan-led the federal government, respectively, came up with the electric power sector reform, EPSR, ACT 2005 and the roadmap for power sector reform of 2010, which was targeted at sanitizing the power sector, ensure efficient and adequate power supply to the country. The project ended in the frames – reportedly gulping billions of dollars without contributing the targeted megawatt to the nation’s power needs.

The Buhari-led administration is presently in a similar partnership with the German government and Siemens. But in my observation, the only change that has taken place since this new development is thoughtless increments of bills/tariffs paid by Nigerians.

No nation can survive under this form of arrangement.

Finally, while this piece calls on the incoming government to provide Nigerians with a standard of living adequate for their health and well-being, Nigerians, on their part, must look up to God, their maker and talk to him through positive actions. They must join their faith with that of James Weldon Johnson to pray; ‘Oh God of our weary years, God of our silent tears, Thou hast us far on the way; Thou who by the might lead us into the light. Keep us forever in part we pray lest our feet stray away from places, our God where we meet thee. Lest our heart is drunk with the wine of the world, and we forget thee; Shadowed beneath thy hand, may we forever stand true to our God, true to our native land’. To this, I say a very big amen.

Jerome-Mario is the programme coordinator (Media and Public Policy) for Social and Economic Justice Advocacy (SEJA). He can be reached via Je*********@***oo.com/08032725374

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Stocks vs Forex: Which is Better for Beginners in 2026?

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Stocks vs Forex

By Onah Ishioma Adaeze

As a beginner, choosing between stocks and forex for your investment goals in 2026 can feel overwhelming. Before investing your hard-earned money, it is important to understand how both markets work.

While both markets present investors with opportunities to grow their wealth, they also differ in terms of volatility, liquidity, market hours, and leverage. Stocks involve owning portions of a company, while forex has to do with trading a base currency against a quote currency.

In this article, we will be going through the basics of stocks and forex, pointing out their differences, and helping you decide which asset better suits your investment journey in 2026.

What is Stock Trading?

When it comes to stock trading, you are buying shares of a company, which makes you a shareholder of that company. As a shareholder, you may be entitled to receive dividends whenever the company decides to pay dividends.

As for those companies that do not pay dividends, there are other benefits a shareholder may enjoy, like being called upon to attend shareholder meetings and having voting rights on certain company matters.

On a global scale, over $100 trillion worth of shares are traded annually. Also, the rising popularity of AI companies and technological innovations continues to drive investor participation and market growth.

If you’re an investor looking to buy and hold capital assets, then stock trading is definitely for you, as it allows for short-term, medium-term and long-term investment goals.

When you buy shares of a company and the company performs well, your shares increase in value. Another benefit of stock trading is access to index funds and ETFs.

These funds consist of companies that are grouped under an index. They are carefully selected and monitored under the fund, sparing the investor the stress of actively tracking the fund.

They can be a way of building a long-term, diversified portfolio, and some of these funds may pay dividends.

What is Forex Trading?

Forex trading has to do with buying one currency and selling another. With a pair like USD/JPY, USD is the base currency being bought against JPY, which is the quote currency.

In order to execute a trade in the forex market, you have to analyse and make predictions based on price movement, as well as pay attention to what’s going on in the global news scene.

The forex market runs twenty-four hours every weekday, with over $9 trillion traded in the market every day. Being the largest financial market in the world, there is very high liquidity.

Forex trading involves buying one currency against another, making predictions based on price movements on the forex charts. Price moves based on the activities of large institutions like hedge funds, big banks, the government, etc.

The forex market runs 24 hours a day, every weekday, with global forex turnover reaching $9 trillion per day in the BIS 2025 survey. Being the largest financial market in the world, there is very high volatility and price fluctuations.

At the same time, there is high liquidity in the market, which means that currency pairs can easily be bought and sold without hassle. Highly liquid instruments that are traded regularly include: EUR/USD, USD/JPY, GBP/USD, and gold (XAU/USD).

As a retail trader, knowing when to enter and exit the market is important. As easy as it is to make profits from price fluctuations, it is also very easy to lose money if the market moves against you. This is why it is important to set stop losses and take profits. This helps manage your trading capital.

Major Differences Between Stocks and Forex

While investing in stocks and forex can yield great capital gains, there are lots of ways in which they differ.

As a beginner, stock trading provides opportunities for long-term investments, ensuring slow but consistent returns for wealth building. But if you are looking for an active, short-term style of investment, then forex trading is for you, as it allows you to enter and exit the market within a shorter time frame.

Which is Better in 2026?

Choosing an asset to invest in all boils down to personal preference. At the same time, if you are not averse to risk, nor opposed to asset diversification, then it’s okay to invest in both.

For beginner investors in 2026, stock trading is easier to understand and get into, especially because of mutual funds, index funds and ETFs. With those funds, you don’t have to be an expert to start investing. You can just buy a fund that suits your needs and hold it over a long period of time.

If you are an investor who enjoys technical analysis, highly volatile and liquid markets, as well as trading under short time frames, then forex trading is the right pick for you.

Conclusion 

You do not need to put all your eggs in one basket. There are investors who invest in both stocks and forex simultaneously. When starting out, you can start investing in stocks while learning forex. Take calculated risks and do not invest above your means. Diversify your investments and remember, when starting out, you should prioritise acquiring knowledge over profits.

Onah Ishioma Adaeze is a finance writer who is passionate about simplifying complex concepts into easily digestible pieces. Her hobbies are reading and watching anime

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Building 234 Solutions: A Response to Everyday Workforce Challenges

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Owoloye Emmanuel 234 Solutions

By Owoloye Emmanuel

Every business starts with a problem. For us, that problem was hiding in plain sight.

Across organisations, we kept seeing HR professionals, payroll teams, and business leaders spend significant time navigating processes that should be simpler. Employee records sat across multiple systems, payroll processes required manual intervention, and routine workforce tasks often became more complicated than they needed to be.

As businesses grow, workforce operations naturally become more complex. Yet many organisations still rely on disconnected tools and workflows that create unnecessary friction for both employers and employees.

The consequence is more than operational inefficiency. HR teams spend valuable time managing systems instead of supporting people. Business leaders struggle to access timely workforce insights, while employees experience delays in processes that should be seamless.

These weren’t isolated challenges. They were recurring realities across workplaces, regardless of industry or size.

That observation led us to a simple question: what if workforce management could be easier?

What if HR, payroll, and workforce operations could work together within a single, connected experience?

That question became the foundation for 234 Solutions.

We are building 234 Solutions with a clear belief that workplace technology should reduce complexity, not add to it. Our goal is to help organisations spend less time navigating processes and more time focusing on productivity, growth, and people.

As we prepare for launch, our focus remains simple: building practical solutions for real workplace challenges and helping organisations create better experiences for the people who power them every day.

Owoloye Emmanuel is the founder of 234 Solutions

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The Role of TV in Preserving African Stories and Identity

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Preserving African Stories

Scroll through social media today, and you will notice something interesting: everyone is either reacting to a series, quoting a movie line, or debating a character as though they personally know them. Beneath the memes and binge-watch culture, however, lies something deeper. Television remains one of the most powerful tools shaping how Africans see themselves, remember their history, and tell their own stories. In a continent as diverse and expressive as Africa, that matters more than ever.

TV as a Cultural Archive, Not Just Entertainment

Long before streaming algorithms began shaping our viewing habits, television was already preserving African identity. From Nollywood dramas that capture the rhythm of everyday Lagos life to documentaries exploring Maasai traditions and Ghanaian folklore, TV has served as a living archive of the continent’s stories.

It preserves more than entertainment; it preserves language, culture, humour, values, and shared experiences. Unlike fleeting social media content, television allows stories to unfold with depth, exploring the realities of family, tradition, ambition, and modern African life without reducing them to stereotypes. That is the power of TV: preserving not just stories, but perspective.

Why Representation on TV Still Matters

There is a subtle but important truth: if people do not see themselves on screen, they may begin to believe their stories are not worth telling. This is why African TV content is more than entertainment; it is affirmation.

Seeing a character who speaks like you, struggles like you, or celebrates like your community does something powerful. It validates identity and challenges outdated narratives that have historically defined Africa through external lenses.

This is where MultiChoice Group, through platforms such as DStv and GOtv, plays an important role. They do not simply broadcast content; they help distribute cultural memory at scale.

GOtv, DStv, and the Everyday African Viewer

Think about a typical evening in many African homes: the TV is on in the background, someone is laughing at a comedy show, another person is watching a local series, and someone else is catching up on the news. That shared viewing experience remains very real.

Through platforms such as DStv and GOtv, African households are exposed to a blend of local storytelling and global content. More importantly, they have helped amplify African-produced content by bringing Nollywood films, African reality shows, talk shows, and documentaries into mainstream rotation.

It is not just about access. It is about visibility.

A young filmmaker in Lagos today is more likely to believe their story matters because they have seen similar stories broadcast widely. A child in Accra grows up hearing familiar accents and seeing environments that look like their own on screen, not as exceptions, but as the norm.

TV Is Also Shaping Modern African Identity

African identity is not static; it is evolving. Television reflects that evolution in real time.

Today, audiences see:

  • Young Africans balancing tradition and modern dating culture

  • Stories tackling mental health in African households

  • Fashion and music influences spreading through TV series

  • Political satire shaping public conversation

Conversations that were once confined to homes are now being explored on screen, giving audiences the language to discuss issues that were previously unspoken.

In many ways, television is doing what oral tradition has always done: passing stories, values, humour, warnings, and history from one generation to the next. The difference is that today’s griots are writers, directors, and broadcasters.

The Future: From Watching to Owning Our Narratives

The next stage of African storytelling is not just about being seen; it is about ownership.

As more African creators produce content and platforms continue to invest in regional storytelling, television becomes more than a mirror. It becomes a tool for shaping how Africa is represented to itself and to the world.

While streaming continues to grow, television, particularly accessible platforms such as GOtv, remains one of the most effective ways to reach everyday audiences across different income levels and regions. After all, storytelling only matters if people can access it.

African stories are not new. They have always existed in families, on streets, in markets, in history books, and through oral traditions. What television has done, and continues to do, is give those stories a stage wide enough for millions to experience them at once.

The next time you watch a local series or documentary on DStv or GOtv, remember that you are not just being entertained. You are participating in the preservation of African identity itself.

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