Another Look At Poverty In Nigeria

 By Adekunle Adekoya

When we talk of poverty, we think of it as the inability of a person, group of persons, or a social collective to meet basic needs like food, clothing, and shelter. The Encyclopaedia Brittanica describes poverty as “the state of one who lacks a usual or socially acceptable amount of money or material possessions. Poverty is said to exist when people lack the means to satisfy their basic needs.”

Provision of basic needs — food, clothing, and shelter — has been the preoccupation of man ever since he began to form social collectives. Getting these things in sufficient quantities is a pillar of security in many societies where leaders are sensible, feel for, and empathise with the people they lead. In fact, it is the primary purpose of organised governance. In today’s Nigeria, it is obvious that basic needs are going out of the reach of the ordinary Nigerian with the passing of each day.

The Buffeted Naira

 By Luke Onyekakeyah

The recent announcement by the Central Bank of Nigeria (CBN) on the introduction of newly redesigned N200, N500 and N1, 000 banknotes, has political and economic implications. Like a thunderbolt, the move has jolted many people, particularly, politicians who promote money politics. Those who have amassed naira and dollar waiting for the forthcoming elections are biting their fingers.

The move is a masterstroke against corrupt politicians, who have hoarded huge sums of money for vote buying during the 2023 general elections. By redesigning the naira and releasing it barely a month to the elections, the CBN may have played the trump card to frustrate all the permutations by politicians who banked on the hoarded naira. That way, the CBN may have contributed to the country having a more credible election in 2023.