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Nigerians Not Poorer Under Buhari—FG

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By Modupe Gbadeyanka

Federal Government has stressed that Nigerians have not become poorer under the present administration of President Muhammadu Buhari as claimed by a recent report.

Few days ago, the World Data Lab in Vienna, Austria released a report titled World Poverty Clock, indicating that Nigeria has taken over India as the capital of poverty in the world with over 80 million Nigerians living in poverty.

The federal government, through the Ministry of Budget and National Planning, which is headed by Mr Udoma Udo Udoma, faulted the World Data Lab report.

In a statement released yesterday, the ministry said it would not accept the report because it was not properly conducted.

“The attention of the Ministry of Budget and Planning has been drawn to a recent publication on the World Poverty Clock by World Data Lab in Vienna, Austria, indicating that Nigeria’s poverty rating was getting worse.

The Ministry has reviewed this report and would like to assure Nigerians that the report is not based on any recent surveys of the poverty levels in Nigeria and cannot be relied upon as a factual indication of recent trends in Nigeria.

“The authors of the report claim that the Poverty Clock is an online analytical/visualization tool that shows the number of people living in extreme poverty worldwide and count(s) ‘excess’ poverty – the gap between the actual number who have escaped poverty since end-December 2015 and the hypothetical number of who should have escaped in order for the world to be on-track to reach the global target of ending poverty by 2030.

“It should be noted that in deriving its poverty estimates, the Poverty Clock does not, and in this case did not, directly rely on household survey data as national statistical offices in most countries do. Instead, as stated in their methodology, they rely on models to estimate poverty rates across countries using data provided by national governments to international agencies.

“The models make assumptions on expected future changes in income, IMF medium-term growth forecasts and long-term projections and analysis developed by the OECD, all of which are significantly influenced by uncertainty. It is, in essence, just a model based on a lot of assumptions which cannot substitute for field work involving actual data collected from households in a consistent and representative way.

“In the specific case of Nigeria, the Poverty Clock uses as baseline the General Household Survey which was not designed to measure poverty indicators accurately and follows a methodology that can be misleading if relied upon for poverty estimates.

“In line with extant laws, the National Bureau of Statistics (NBS) remains the statutory agency of government with responsibility for producing Nigeria’s official statistics, including poverty estimates. Like several other countries, Nigeria’s poverty estimates are obtained from the National Living Standard Survey (NLSS) undertaken every five years, and which was last conducted in 2010.

“While several other household surveys are routinely conducted by the NBS, none are as comprehensive as the NLSS, which is the appropriate household survey to determine poverty estimates. The next round of the NLSS is currently being undertaken by the NBS, in collaboration with the World Bank, and this will be concluded in 2019. There is currently no other comprehensive household study on current poverty trends in Nigeria.

“It is therefore pertinent to note that the World Poverty Clock is a model-based estimation of poverty, relying on projections and assumptions that cannot substitute for actual household survey approach which most countries adopt.

“This implies that it is not possible to conclude Nigerians poverty position until the NBS completes the NLSS, as no comprehensive field work has been done in Nigeria, and among Nigerian households, as is required according to standard international methodology.

“It is however important to point out that the Federal Government of Nigeria, in line with strategies outlined in the Economic Recovery and Growth Plan (ERGP), remains committed to promoting sustainable economic development through various social investment schemes that will yield positive impacts on poverty and unemployment; and will consequently change the trajectory of poverty in the country.

“Apart from the Social Investment Programme (SIP) which has engaged a lot of youths in entrepreneurial and skills training alongside the school feeding programme which has provided balanced meals for millions of school children, government believes that the fastest way to reduce the level of poverty and increase social inclusion is to create jobs.

“In the ERGP, this administration is committed to creating 15 million jobs in four years by 2020 by developing labour intensive sectors such as agriculture, manufacturing housing and construction.

“Government is also committed, and has been vigorously expanding public works in infrastructure, such as railways, roads and bridges, which is catalysing economic growth, as is evident from the turn-around in the GDP growth numbers.

“In order to support and encourage private sector investment, government has placed emphasis on Made-in-Nigeria products; and public procurement is focused on local content and labour-intensive production processes.

“Government is also enhancing the ease of doing business and tackling power challenges to attract private sector investment that will in turn create jobs and further reduce poverty levels across the country.

“The impact of these efforts, amongst others, will certainly translate to a reduction of the poverty levels in Nigeria. After emergence from recession in 2017 all major economic indices have turned positive in the last 12 months.

“We are therefore optimistic that any poverty survey carried out now will show that this administration is succeeding in turning around the negative trajectory that the economy had been on before we took over. And that this turnaround will succeed in lifting millions of Nigerians out of poverty,” the statement said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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2027: Court Orders Deregistration of ADC, Four Other Political Parties

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By Adedapo Adesanya

Justice Peter Lifu of the Federal High Court in Abuja has ordered the deregistration of the African Democratic Congress (ADC) and four others over failure to meet the constitutional requirements for political parties in the country.

In a judgment, Justice Lifu ordered the Independent National Electoral Commission (INEC) to deregister the affected parties, having failed to secure 25 per cent of the votes in the last general elections in compliance with the provisions of the law.

The five political parties include ADC, Accord (A), Action Alliance (AA), Action Peoples Party (APP) and Zenith Labour Party (ZLP).

Justice Lifu, who earlier dismissed all the multiple preliminary objections filed by the defendants, ordered INEC not to allow the parties to participate in the subsequent elections, including the 2027 general polls, having failed to meet the constitutional threshold.

A group, the Incorporated Trustees of the National Forum of Former Legislators, had filed the suit against the five political parties.

The plaintiff, who also joined the Attorney-General of the Federation (AGF) in the suit, named INEC as the first defendant.

The forum argued that the affected political parties failed to meet constitutional requirements relating to electoral spread and performance.

It contended that political parties were required to secure at least 25 per cent of votes in prescribed elections to remain relevant under the law.

It therefore urged the court to order the deregistration of the parties, insisting that none of the defendants had effectively countered the arguments.

This development comes as the ADC announced former Rivers State Governor, Mr Rotimi Amaechi, as the running mate to its presidential candidate, former Vice President Atiku Abubakar, for the 2027 general election.

It said that the decision followed extensive consultations with party leaders, coalition partners, youth and women stakeholders, and representatives of all geopolitical zones.

“The National Leadership of the African Democratic Congress (ADC), after extensive consultations with party leaders, coalition partners, youth and women stakeholders, and representatives of all geopolitical zones, is proud to announce that Mr Chibuike Rotimi Amaechi has been selected as the vice-presidential candidate of our great party for the 2027 presidential election,” the party disclosed in a statement on Monday.

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Nigerian Oil and Gas Park to Start Operations Q4 2026

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By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed that the anticipated Nigerian Oil and Gas Park Scheme (NOGaPS) will become operational by the fourth quarter of 2026.

According to a statement by the General Manager of Corporate Communications Division at NCDMB, Mr Obinna Ezeobi, ahead of the target date for the park located at Emeyal-1, in Ogbia Local Government Area of Bayelsa State,  the NCDMB is set to install a 2.5-megawatt Com- pressed Natural Gas (CNG) power plant at the park.

He added that the power plant is one of the key steps to getting the facility operational, as it will provide a reliable and sustainable electricity supply to support industrial operations within the park.

Mr Ezeobi gave the assurance after an assessment visit to the facility by key personnel of the Board.

According to the statement, the tour revealed significant progress across key infrastructure and support systems designed to position the facility as a major industrial hub for Nigeria’s oil and gas industry.

It added that the Nigerian Oil and Gas Park Scheme was conceived to deepen Nigerian Content by providing a conducive environment for the manufacturing of components, equipment and other inputs required by the oil and gas industry, while creating employment opportunities for over 2000 persons when fully operational, and stimulating economic growth.

The oil and gas park scheme is a purpose-built industrial park with manufacturing shop floors and factories, warehouses, training centres, mini estates, truck parking and holding spaces, fire stations, administrative blocks, and security services, among other things, and is a critical initiative of the board geared towards in-country capacity development through local manufacture of equipment components and spare parts required in the oil and gas industry.

Six parks have been conceptualised and are located in different parts of the country, and they form a key part of NCDMB’s strategy for sustainable local content development and industrialisation. Two of the parks at Odukpani, Cross River State, and at Emeyal 1, Bayelsa State, have been completed, and interested companies have begun to take up shop floors, preparatory to the commencement of operations.

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Yuno, Onafriq to Unlock Pan-African Payments for Global Merchants

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By Modupe Gbadeyanka

A partnership for the integration of Onafriq’s leading pan-African payment network into Yuno’s orchestration platform has been entered into between the two organisations.

This collaboration gives merchants a single connection to Africa’s most expansive payments infrastructure, bringing the continent’s most expansive payments infrastructure to merchants worldwide.

Through this integration, Yuno’s clients gain instant access to Onafriq’s network spanning 43 African markets, nearly one billion mobile wallets, 500 million bank accounts, and 2,000 cross-border payment corridors, all through Yuno’s single, developer-friendly API.

The partnership is part of Yuno’s broader strategy to build a truly global platform that connects merchants to every meaningful payment method and network, regardless of geography. Following successful expansion in the Middle East, Europe, and Asia, Africa is a key pillar of Yuno’s next phase of growth.

For Onafriq, the integration with Yuno extends its reach to an entirely new segment of global merchants who now benefit from a streamlined entry point into African markets. The partnership reinforces Onafriq’s mission of making borders matter less, bringing together mobile money operators, banks, fintechs, and enterprises into one connected payment ecosystem.

“Africa represents one of the most exciting growth opportunities in global commerce, and yet too many merchants are still locked out by payment infrastructure that wasn’t built for scale.

“Our partnership with Onafriq changes that. By bringing their unmatched African network into our infrastructure layer, we’re giving our clients a single path to a continent-wide ecosystem with the reliability, compliance, and local depth they need to grow with confidence,” the chief executive of Yuno, Mr Juan Pablo Ortega, stated.

Also commenting, the chief executive of Onafriq, Mr Dare Okoudjou, said, “Africa’s payment landscape has never lacked ambition or momentum; what it needed is the right infrastructure that matches its pace.

“Our partnership with Yuno changes the equation for global merchants who want to be part of this growth story. Through a single connection, global merchants can reach consumers and businesses across Africa more seamlessly than ever before, while more people across the continent gain access to the digital economy on their own terms. For us, this is what making borders matter less looks like in practice.”

Onafriq’s infrastructure supports the full payment lifecycle, from real-time disbursements and omnichannel collections to card issuance, treasury management, and stablecoin settlement, all underpinned by local regulatory licences and ISO 27001 and CMML3-certified security.

For Yuno’s merchant base, this means the ability to pay out to mobile wallets, bank accounts, or cash pickup points, and accept payments across channels, without managing multiple integrations or compliance frameworks independently.

The integration is now live and available across Egypt, Ghana, Kenya, Nigeria, Cameroon, Côte d’Ivoire, and Uganda. Yuno’s clients can access Onafriq’s capabilities, including mobile money disbursements and collections, card issuance, and FX treasury services, directly from the Yuno dashboard with no additional contract or integration required.

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