By Salif Atojoko

The Tinubu Media Support Group (TMSG) says the presence of four Nigerian entrepreneurs on the 2025 Forbes list of Africa’s 22 wealthiest individuals is proof of prosperity in the country.

Mr Emeka Nwankpa, Chairman of the group, said it was instructive that Dangote Refinery was instrumental to Aliko Dangote retaining his position as Africa’s richest man.

“Like many Nigerians, we are enthused that four Nigerians whose wealth was largely homegrown and sustained in the last year are on the Forbes list of Africa’s 22 billionaires in dollars.

“Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are all on the 2025 Forbes billionaires list, which also has seven South African nationals among Africa’s wealthiest individuals,” he said.

He also said that it was noteworthy that Dangote retained his position as Africa’s richest person for the 14th year in a row.

This, he said, was because his net worth increased from 13.9 billion dollars to 23.9 billion dollars in 2024 as a result of the inclusion of Dangote Refinery’s valuation in Forbes’ calculations.

“This, for us, is a clear indication of prosperity in Nigeria and there is a strong possibility that by the time Abdulsamad Rabiu, who is sixth on the list with a fortune of 5.1 billion dollars, completes his BUA Refinery in Uyo, his ranking will improve.

“And there is Mike Adenuga, who is ranked fifth in Africa with a net worth of 6.8 billion dollars, mainly as a result of his ownership of Nigeria’s first private indigenous telecom company.

“The fourth Nigerian on the Forbes list, Femi Otedola, with a net worth of 1.5 billion dollars, is known to be actively diversifying his business concerns from the downstream sector of the oil industry to banking and power generation through his Geregu Power Plant,” he added.

Nwankpa said that each of the billionaires grew their wealth by at least 25 per cent in the first 22 months of the Tinubu administration.

“This cannot be coincidental, and for us it is an indication of the immense opportunities in the country.

“It is, therefore, not surprising that foreign investors are trooping into the country, even at a time that opposition elements are spinning doomsday scenarios on the national economy,” he further said.

He expressed optimism that more Nigerian entrepreneurs with wealth linked to the stock market would make subsequent Forbes list of Africa’s billionaires in the aftermath of President Tinubu’s pro-business policies. (NAN)(www.nannews.ng)

Edited by Deborah Coker

By Felicia Imohimi

Dr Bukar Usman, former Permanent Secretary in the presidency, has commended the Bura Women Development Association (BUWDA) for successfully establishing a skill acquisition centre in Marama, Hawul Local Government Area, Borno State.

Usman, President of the Bukar Usman Foundation and President of the Nigerian Folklore Society (NFS), gave the commendation at the Bura Day Celebration, in Abuja.

The event, organised by BUWDA’s Abuja Chapter, was aimed at inaugurating a Microfinance Bank and renovating and furnishing the association’s Guest House at the Skill Acquisition Centre.

As the guest speaker at the event, Usman lauded the association for its commitment to improving the welfare of the people and advancing the development of Buraland.

He identified the centre as the pride of Bura and a model for self-help in Buraland, Biu Emirate, Borno, encouraging others to follow its example.

Usman further described it as a lasting legacy to the goodwill and dedication of the initiators, both living and deceased.

“Skill acquisition is an integral part of education that our people have embraced at all levels, since it was introduced by former colonial administrators and foreign missionaries decades ago.

“BUWDA, which was inaugurated in 2014, established the Marama Skills Acquisition Centre in 2020.

“The centre was formally commissioned by the Borno State Government on Dec. 31, 2022, the same day as the graduation of the first set of trainees.

“Everyone who attended the well-equipped training facilities at the centre has benefited, and the centre remains open to attract more trainees and visitors,” Usman added.

He emphasised that the skills provided at the centre were crucial for supplementing farming, which remained the primary occupation in the region.

He also highlighted the need to modernise farming methods and increase production to meet the growing population.

“We should utilise the vast arable lands that are suitable for mechanisation and avoid relying on inefficient, labour-intensive methods,” he said.

Usman called for the revival of Agricultural Shows to showcase improved crop and animal varieties and reward exemplary farmers.

Regarding the proposed establishment of a Microfinance Bank by the association, Usman said it would improve facilities at the centre and bring modern financial transactions to rural communities, accelerating socio-economic development.

However, he advised that its inauguration should be based on sound feasibility studies and strong financial management practices.

“The responsibility of ensuring the success of this initiative lies with the current and future leaderships of the association,” Usman said.

Mrs Mary Hamman, President of BUWDA, explained that the association aimed to promote self-reliance among its members, enhance skills and capacity building for Bura women and youth in agriculture, organic farming, and entrepreneurship.

She also emphasised that BUWDA’s mission includes providing development projects such as schools, clinics, and potable water for the Bura Community.

“The role of BUWDA is to care for the family and community, to be a mother to all.

“By opening the Skill Acquisition Centre, we aim to keep youth from wandering the streets.

“Many have finished secondary school but have not pursued further education due to the country’s challenges.

“Instead of idleness, we decided to provide them with opportunities to acquire skills and empower themselves,” Hamman said.

She further mentioned that the centre offered various training programmes, including tailoring, mechanical skills, sweater weaving, catering, and ICT.

She added that BUWDA was also collaborating with the University of Jos for counterpart funding to open a satellite campus at the centre. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru

By Lydia Chigozie-Ngwakwe

A Professor of Sociology, Lai Olurode, has urged the Federal Government to reconsider its decision to revoke housing allocations from 1,357 Nigerians across 33 states due to payment defaults.

Olurode, a former Dean, Faculty of Social Science, University of Lagos, said that the socio-economic impact of such cancellation would be huge.

He expressed the concern in an interview with the News Agency of Nigeria (NAN) in Lagos.

Olurode urged the government to grant the affected individuals more time to make payments.

“I would want government to give those who have applied more time to pay off because private investment in housing is very weak and not many people earn enough to be able to buy land,’’ he said.

He said that Nigeria had a deficit of about 28 million housing units.

He added that a significant proportion of the available housing stock was not habitable because of lack basic amenities.

“There is a deficit of about 28 million units of housing in the country.

“If you even look at the available housing stock, most of the houses, as a matter of fact, are not habitable because of their conditions.

“They have no modern facilities in terms of infrastructure, there is absence of water in some of the houses.”

The professor also said that some of the houses were not accessible.

“That is apart from the fact that some are in slums,’’ he said.

The professor said that the revocation of housing allocations represented lost opportunities for the affected individuals and would exacerbate the critical housing situation.

He said: “That will be compounding the already very precarious housing situation in the country.’’

According to him, addressing the national housing deficit will require at least N31 trillion.

He warned that the cancellation, in addition to the poor condition of some existing houses and population growth, would lead to increased homelessness.

Olurode also noted some limitations of the National Housing Fund, saying it primarily benefitted those in formal employment.

He called for a stronger partnership between the public and private sectors in tackling housing problems, saying that the government could not do it alone.

He, however, regretted that high interest rates discouraged private investment in the sector.

The sociologist emphasised that only a small percentage of Nigerians could genuinely afford housing.

He warned that housing shortage could lead to overcrowding and its attendant social problems.

He highlighted the difficulties Nigerians faced in acquiring land, even in rural areas, due to speculation and land title issues.

He urged the government to encourage private sector participation in housing provision through incentives.

He added that the government should explore alternative payment structures for housing, such as the piecemeal approach in which long-term payments would lead to ownership.

Olurode said that housing should be viewed as a social necessity rather than a purely commercial venture, suggesting the need for government subsidy.

The professor advocated promotion of cooperative housing societies to facilitate home ownership.

He also emphasised the need for improved salaries to enable more workers to afford decent housing. (NAN)(www.nannews.ng)

Edited by Ijeoma Popoola