Feature/OPED
Retirement Security: Do You Have it?
By Timi Olubiyi, PhD
Across the African continent, a silent crisis is unfolding: the rise of retirement poverty only a few have retirement security. From Lagos to Lusaka, retirement is becoming not a time of rest but a significant economic concern for the elderly, marked by overdependence on children and increasing poverty.
Despite decades of service, countless Africans reach old age without savings, without a reliable pension, and without the means to meet basic needs, and this is a worrying concern.
In Nigeria, for instance, like many other places in Africa, rising living costs have worsened the retirement outlook since 2020, with the COVID-19 pandemic. This retirement poverty trend has become more visible than ever in Nigeria, where the experience mirrors that of many African nations.
In countries like Kenya, Ghana, and Uganda, pension coverage remains low, and the quality of life for the elderly is declining, particularly after their meritorious service and business management years. While many factors contribute to this retirement poverty crisis, one issue standsout it is the growing concern of a lack of cash flow. The lack and absence of steady, predictable income during retirement directly translates into poverty in old age.
Retirement poverty refers to the situation where individuals lack sufficient financial resources to maintain a decent standard of living after they retire. The opposite of it is to have retirement security, but the fact is that growing older means living with less income expectations, yet savings can never be enough.
In recent times, many individuals in small businesses find themselves working well into old age, trading, hawking goods, performing manual labour, or turning to street begging. For those with health challenges, the consequences are even more dire and difficult all to no access to cashflow.
The informal sector contributes over 60% of Nigeria’s GDP and employs more than 80% of its workforce. Yet, the pension schemes available in the country barely cater to this segment, that is, informal micro and small businesses.
The majority of workers, especially those in this informal sector, such as agriculture, petty trading, and transportation, lack social protection or a structured retirement savings plan. The informal sector, which is the backbone of Nigeria’s economy, is technically and largely excluded from pension scheme coverage. For them, old age arrives with no guaranteed income, and financial security relies on extended family, faith-based charity, or sheer luck.
While I agree that Nigeria’s National Pension Commission (PenCom) launched the Micro Pension Plan (MPP) in 2019 to extend coverage to informal workers, uptake remains low due to a lack of awareness, poor financial literacy, general distrust of financial institutions, and, once again, wide spread irregular cash flows.
I have realised that before now most elderly and retirees usually save up for retirement, or make property investments, especially those who are middle-income earners in Africa, but in recent time the capacity to save for retirement is crippled by irregular or insufficient income and in particular the continued inflationary pressure.
At the heart of retirement poverty is a fundamental issue: cash flow and savings. Daily earners and small business owners in Nigeria often face volatile cash inflows, which make consistent savings difficult, if not impossible. Inflation, currently hovering in double digits in Nigeria, erodes whatever little savings many manage to accumulate.
For most people, survival takes precedence over long-term planning. Retirees who worked in the informal sector largely depend on adult children or extended family networks for support.
However, the erosion of traditional family structures, rural-urban migration, and economic hardships among younger generations have weakened this safety net. Considering the cost of living, rent, and transportation in a place like Lagos, Nigeria, there is no way a retiree can live comfortably without external support in the form of a constant cash flow.
When food prices, fuel costs, and rent increase unpredictably, any available cash is quickly consumed by urgent needs. The problem of retirement poverty in Nigeria and indeed Africa is fundamentally a cash flow problemat the individual, institutional, and national levels. Moreover, cash flow problems are not confined to individuals.
Governments across the continent are grappling with delayed salary payments, arrears, and underfunded pension systems. In South Africa, although the elderly grant system provides a little relief, it is facing increasing pressure as the number of beneficiaries rises.
In Africa’s most populous country, citizens ‘ daily survival takes precedence over long-term financial planning or retirement. Workers, especially those in informal sectors like retail, farming, trading, transport, and artisanry, earn irregular income, often paid in daily cash, with no access to structured savings or pension schemes.
You will agree with me that when income is uncertain and living expenses are rising, saving for retirement becomes a luxury that only a few can afford. More so, chronic cash flow challenges have turned retirement into a period of anxiety for millions. Yet this trend is growing without any succour in sight.
Without urgent intervention, the golden years risk becoming a generation’s greatest fear. Retirement security in Nigeria is not just about pension policies. When cash does not flow reliably into the hands of citizens, it cannot flow out to support them in old age. When individuals do not have consistent income, they cannot make consistent contributions. And when contributions are irregular, future retirement income becomes uncertain or non-existent.
Therefore, addressing retirement poverty and improving retirement security in Nigeria or Africa requires direct intervention in a meaningful way, such as by expanding pension schemes and financial access for informal workers, and providing social interventions.
More so, it is important to strengthen the awareness of pension schemes and their benefits, improve financial literacy at every level—individual, employer, and government, in particular on cash flow. Because the truth is simple: without cash flow, there is no retirement security. Only prolonged poverty will exist. Statistics and surveys have shown that poverty among older adults could worsen in a few years if the governments in Africado not address pension coverage issues. Good luck!
How may you obtain advice or further information on the article?
Dr Timi Olubiyi is an Entrepreneurship and Business Management expert with a PhD in Business Administration from Babcock University, Nigeria. He is a prolific investment coach, author, columnist, seasoned scholar, Chartered Member of the Chartered Institute for Securities and Investment (CISI), and a Securities and Exchange Commission (SEC)-registered capital market operator. He can be reached on the Twitter handle @drtimiolubiyi and via email: dr***********@***il.com, for any questions, reactions, and comments.
The opinions expressed in this article are those of the author, Dr Timi Olubiyi, and do not necessarily reflect the opinions of others.
Feature/OPED
The Hidden Workforce of the 2026 Access Bank Lagos City Marathon
When the final runner crossed the finish line at the 11th edition of the Access Bank Lagos City Marathon (ABLCM), the applause began to fade. But for hundreds of workers across Lagos, the real work was just beginning.
Major highways had been closed to facilitate the event. Tens of thousands of runners moved through the city in a coordinated surge of athletic endurance. Thousands of bottles of water and energy drinks were distributed, alongside sachets containing essential medical supplies and medication. The race route itself was meticulously prepared, lined with banners, barricades, medical tents and precision timing systems that ensured safety, organisation and accurate performance tracking from start to finish.
What followed was the part that a few cameras lingered on, yet it remains one of the clearest indicators of institutional progress.
Within minutes of the race conclusion, coordinated sanitation teams fanned out across the marathon corridor. Their work went beyond sweeping. Waste was systematically sorted. Plastic bottles were separated from general refuse. Sachets were gathered in bulk. Collection trucks moved along predefined routes, ensuring rapid evacuation of waste. Temporary race infrastructure was dismantled with quiet precision.
In a megacity like Lagos, speed is a necessity. Urban momentum cannot pause for long. The ability to restore order quickly after an event of this magnitude reflects operational discipline across interconnected systems, municipal authorities, environmental agencies, private waste management partners and event coordinators.
Globally, large-scale sporting events are no longer evaluated solely by participation numbers or prize purses. Sustainability has emerged as a defining metric. Environmental responsiveness is now a core measure of credibility. Cities seeking tourism growth, foreign investment and international partnerships must demonstrate that scale does not compromise responsibility. The 2026 marathon provided a compelling case study in this evolution.
The clean-up operation itself generated meaningful economic activity. Temporary employment opportunities emerged for sanitation workers and logistics personnel. Recycling partners engaged in material recovery, reinforcing circular economy value chains. What was once viewed as routine waste disposal has evolved into a structured ecosystem of environmental services, a sector of increasing importance in modern urban economies.
This level of sustainability was the result of deliberate planning. Effective post-event recovery requires route mapping, waste volume projections, coordination between sponsors such as Access Bank Plc and municipal bodies, contingency planning for congestion points and clear communication protocols.
Each edition of the marathon has built on lessons from the last. International participation has expanded. Accreditation standards have strengthened. Media visibility has grown. Most importantly, environmental management has become embedded in the marathon’s operational framework rather than treated as an afterthought.
Progress rarely arrives in dramatic leaps, it advances through incremental improvements, refined systems and institutional learning. Just as elite runners close performance gaps through disciplined training, cities strengthen their global standing through consistent operational excellence.
The 2026 marathon, therefore, tells a story that extends far beyond athletic achievement. It is a story of coordination, sustainability as strategy rather than slogan, and the often unseen workforce, sanitation workers, planners, volunteers, security officials and environmental partners, whose discipline sustains the spectacle.
Because in the end, global cities are judged by how well they host and how responsibly they restore. On the marathon day in Lagos, it was the runners who demonstrated endurance and the systems, and the people behind them, who ensured that when the cheering stopped, the city kept moving.
Feature/OPED
N328.5bn Billing: How Political Patronage Built Lagos’ Agbero Shadow Tax Empire
By Blaise Udunze
Lagos prides itself as Africa’s commercial nerve centre. It markets innovation, fintech unicorns, rail lines, blue-water ferries, and billion-dollar real estate. Though with the glittering skyline and megacity ambition lies a parallel state, a shadow taxation regime run not from Alausa, but from motor parks, bus stops, and highway shoulders. They are called “agberos.” And for decades, they have functioned as Lagos’ unofficial tax masters.
What began as loosely organised transport unionism mutated into a pervasive and often violent system of extortion. Today, tens of thousands of commercial buses, over 75,000 danfos according to estimates by the Lagos Metropolitan Area Transport Authority, ply Lagos roads daily. Each bus is a moving ATM. Each stop is a tollgate. Each route is a revenue corridor.
Looking at the daily estimate from their operations, at N7,000 to N12,000 per bus per day, conservative calculations show that between N525 million and N900 million is extracted daily from drivers. Annually, that balloons toward N192 billion to N328.5 billion or more, money collected in cash, unreceipted, unaudited, unaccounted for. This illicit taxation on an industrial scale did not emerge in a vacuum.
The reality today is that to understand the scale of the problem, one must confront its political history. It was during the administration of Bola Ahmed Tinubu as Lagos State governor from 1999 to 2007, who is now the President, that the entrenchment of transport union dominance and motor park patronage deepened.
Under his political machine, transport unions became not just labour associations but mobilisation structures, formidable grassroots networks capable of crowd control, voter turnout engineering, and territorial enforcement. In exchange for political loyalty, street influence translated into operational latitude.
Motor parks became power bases. “Area boys” became enforcers. Union leadership became politically connected. What should have been regulated associations morphed into revenue-generating franchises with muscle.
The system outlived his tenure. It institutionalised itself. It professionalised. It is embedded in Lagos’ political economy.
And today, it thrives in broad daylight. Endeavour to visit Ajah under bridge, Ikeja under bridge, or Mile-2 along Ojo at 6:00 a.m. Watch drivers clutching crumpled naira notes. Observe men in green trousers and caps marked NURTW weaving between buses, collecting what drivers call òwò àrò, or evening as òwò iròlè money taken from passengers.
A korope driver shouts, “Berger straight!” His bus fills. The engines rumble. But before he moves, he must pay. If he refuses? The side mirror may disappear. The windscreen may crack. The conductor may be assaulted. The vehicle may be blocked with planks, and if they resist, the conductor or driver may be beaten. Movement becomes impossible. It is not optional.
This is common across Lagos, especially amongst drivers in Oshodi, Obalende, Ojodu Berger, Mile 2, Iyana Iba, and Badagry, and describes a three-layered structure ranging from street collectors, area coordinators, and union executives at each location. Daily targets flow upward. Commissions remain below.
One conductor disclosed he budgets at N8,500 daily for louts alone, excluding fuel, delivery to vehicle owners, and official tickets. Another driver says he parts with nearly N15,000 in total daily levies across routes.
Of N40,000 collected on trips, barely N22,000 survives before fuel. Sometimes, drivers go home with N3,500. Working like elephants. Eating like ants. The impact extends far beyond drivers.
Every naira extorted is transferred to commuters. An N700 fare becomes N1,500. A N400 corridor becomes N1,200 in traffic, and this is maintained even after fuel prices fall; fares rarely decline. The hidden levy remains.
Retail traders reduce stock purchases because transport eats profits. Civil servants watch salaries stagnate while commuting costs climb. Market women complain that surviving Lagos costs more than living in it.
This is not just a transport disorder. It is inflation engineered by coercion. Economists call it financial leakage, money extracted from the productive economy that never enters the fiscal system. Billions circulate annually without appearing in government ledgers. No roads are built from it. No hospitals funded. No schools renovated.
It is taxation without development. Small and Medium Enterprises form nearly half of Nigeria’s GDP and employ the majority of its workforce. In Lagos, they are under assault from informal levies layered on top of official taxes. Goods delivered by bus carry hidden transport premiums. Commuting staff face higher daily costs. Inflation ripples through supply chains.
The strike by commercial drivers in 2022 exposed the depth of resentment. Under the Joint Drivers’ Welfare Association of Nigeria (JDWAN), drivers protested “unfettered and violent extortion.” Lagos stood still. Commuters trekked. Appointments were missed. Businesses stalled.
Drivers alleged that half of their daily income vanished into motor park collections.
Some who protested were attacked. Yet the collections continued.
Drivers insist daily collections at single corridors can exceed N5 million. Park chairmen allegedly control enormous cash flows. Uniformed collectors operate with visible confidence.
Meanwhile, the Lagos State Government denies sanctioning any roadside extortion. Officials describe the tax system as institutionalised and structured. They promise reforms through Bus Rapid Transit, rail expansion and corridor standardisation. Yet the shadow toll persists.
Contrast this with Enugu State, where Governor Peter Mbah introduced a Unified e-Ticket Scheme mandating digital payments directly into the state treasury. Paper tickets were banned. Cash collections outlawed. Revenue flows are traceable. Harassment criminalised.
Drivers in Lagos say openly that they should be given a single N5,000 daily ticket paid directly to the government, and end the chaos. Instead, they face multiple actors, agberos, task forces, and traffic officials, each demanding settlement.
The difference is in governance philosophy. One digitises and centralises revenue to eliminate leakages.
The other tolerates fragmentation that breeds shadow collectors. The uncomfortable truth is that the agbero structure is politically sensitive. Transport unions are not just labour bodies; they are political instruments. They mobilise during elections. They maintain territorial presence. They command street loyalty. In return, they are allegedly tolerated, protected, or absorbed into broader political structures as they turn into war instruments and a battle axe in the hands of the government of the day. The underlying reality is that the agbero who are the street-level power structures and the government authorities benefit from each other; the line between unofficial influence and official governance becomes unclear, making reform politically sensitive.
The issue is not merely about street disorder; it is about economic governance. Illicit taxation distorts pricing mechanisms, reduces productivity, discourages the formalisation of businesses, and weakens public trust. If citizens are compelled to pay both official taxes and unofficial levies, compliance morale declines. Why comply with statutory taxation when parallel systems operate unchecked?
Dismantling them is not merely administrative; it is political. Perhaps unbeknownst to the people, the cost of inaction is immense. Lagos aspires to be a 21st-century smart megacity under such an atmosphere. But investors notice informal roadblocks. Businesses factor in unpredictability. Commuters absorb unofficial taxes daily. Across Lagos roads, the script repeats “òwò mi dà,” meaning, give me my money.
Passengers plead with collectors to reduce levies so they can proceed. Conductors argue over dues before departure. Citizens feel hostage to a system they neither elected nor authorised.
Taxation, constitutionally, belongs to the state. It must be legislated, receipted, audited and deployed for the public good.
Agbero taxation is none of these. It is coercive. It is not transparent. It is extractive. Lagos has launched rail lines and BRT corridors. The Lagos Metropolitan Area Transport Authority continues transport reforms. Officials promise that bus reform initiatives will eliminate unregistered operators. But reform cannot be selective. You cannot modernise rail while medieval tolling persists on roads. You cannot preach digital governance while cash collectors flourish at bus stops. You cannot aspire to global city status while informal muscle dictates movement.
The solution is not episodic arrests. It is a structural overhaul: mandatory digital ticketing across all parks; a single harmonised levy payable electronically; an independent audit of union revenue; protection for drivers who resist illegal collections; and political decoupling of unions from patronage networks.
The agbero empire is not merely about bus fares. It is about how patronage systems, once empowered, metastasise into parallel authorities. What may have begun as strategic alliance-building two decades ago has matured into a shadow fiscal regime embedded in daily life.
The challenge is that Lagosians are left with no choice as they now pay twice, once to the government, once to the streets. And unlike official taxes, shadow taxes leave no developmental footprint. No bridge bears their name. No hospital wing testifies to their billions. No classroom is built from their collections. Only inflated fares. Broken windscreens. Frustrated commuters. And drivers who sweat under the sun, calculating how much will remain after everyone has taken their cut.
The agbero question is ultimately a governance question. Is Lagos governed by law, or by tolerated coercion? Is taxation a constitutional function, or a roadside negotiation? Is political convenience worth permanent economic distortion? What is absolutely known is that the structure has a political backing and what politics created, politics can dismantle.
Unless meaningful reform takes place, Lagos will continue to remain a megacity with a shadow treasury, where movement begins not with ignition, but with payment to men who answer to no ledger without any tangible returns. This is to say that every danfo that moves carries not just passengers, but the weight of a system that taxes without law, collects without accountability and punishes the very people who keep the city alive.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: bl***********@***il.com
Feature/OPED
How to Nurture Your Faith During Ramadan
Many Muslims grow up learning how to balance life carefully. Faith, work, and responsibility all sit on the same scale, and during Ramadan, that balance becomes even more delicate. Days start earlier than usual, nights stretch longer, and energy is spent with intention.
Over time, this rhythm shapes more than schedules; it quietly shapes how Ramadan is experienced.
Between getting ready for work, navigating long days, preparing meals for iftar, observing prayers, and trying to rest, moments for reflection are often pushed to the side. When there’s finally time to pause, many people assume meaningful Islamic content requires complete silence, full attention, and emotional space, things that can feel scarce during the month.
They scroll past channels they believe may be too formal, or not suited to their everyday routine. They stick to what feels familiar, even if it doesn’t quite align with the spirit of the season and without realising it, they limit themselves.
What many don’t know is that content designed for moments like these already exists on GOtv. The Islam Channel offers programming that understands Ramadan as it is truly lived.
On the Islam Channel, viewers can find thoughtful discussions that explore faith in a way that feels relevant to modern life, educational programmes that break down Islamic teachings clearly and calmly, and inspiring shows that encourage reflection without feeling overwhelming. There are conversations that can play softly in the background while you’re cooking, reminders you can catch while getting dressed for work, and programmes that help you unwind gently after a long day of fasting.
What sets the channel apart is how it personalises Islamic themes, making them accessible not just during prayer time, but throughout the day. Its content is created to inform, reflect, and inspire, whether you’re actively watching or simply listening as life continues around you. And while it speaks directly to Muslim audiences, it also remains open and welcoming to non-Muslims interested in understanding Islamic values, culture, and everyday perspectives.
During Ramadan, television often becomes part of the atmosphere rather than the focus. And having access to content that aligns with the season can quietly enrich those in-between moments, the ones that often matter most.
This Ramadan, the Islam Channel is available on GOtv Ch 111, ready to meet you wherever you are in your day.
And here’s the exciting part: with GOtv’s We Got You offer, you can enjoy your current package and get access to the next package at no extra cost. There’s never been a better time to hop on and get more shows, more suspense, and more entertainment, all for the same price!
To upgrade, subscribe, or reconnect, download the MyGOtv App or dial *288#. For watching on the go, download the GOtv Stream App and enjoy your favourites anytime, anywhere.
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