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‘Nigerians Became Poorer in Buhari’s First Term in Office’
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The Economist reviewed the first term of President Muhammadu Buhari and concluded that Nigerians became poorer during his first four years in office.
The magazine, in the publication, which was posted on its website on Thursday, said while the Nigerian economy was “stuck like a stranded truck,” average incomes fell during the four-year period covering 2015 to 2019.
Opposition parties led by the Peoples Democratic Party agreed with the magazine’s damning report, saying it confirmed their belief that Buhari was clueless and could not run the country efficiently. They advised Nigerians to prepare for another disastrous four years, which Buhari started on May 29.
The Economist in its report said based on the thinking of the International Monetary Fund, the average income of Nigerians “will not rise for at least another six (years).”
The report partly read, “The Nigerian economy is stuck like a stranded truck. Average incomes have been falling for four years; the IMF thinks they will not rise for at least another six (years).
“The latest figures put unemployment at 23 per cent, after growing for 15 consecutive quarters.
“Some 94 million people live on less than $1.90 a day, more than in any other country, and the number is swelling.
“By 2030, a quarter of very poor people will be Nigerians, predicts the World Data Lab, which counts such things.”
The report said the naira was overvalued, adding that this was because the government had spent decades neglecting basic public goods such as roads, schools and electricity.
It said, “Where urgency is needed, Mr Buhari offers only caution. Few are holding their breath for any more drive in his second term, which began on May 29th.
“Yet officials are postponing a crisis, not averting one. Consider borrowing. The debt-to-GDP ratio is 28 per cent, but Nigeria collects so little in tax that interest payments swallow about 60 per cent of federal revenues.”
The Economist said that public finances would be healthier if the government raised the price of fuel, which is imported by the Nigeria National Petroleum Corporation and sold on at a loss.
It said last year, subsidy was worth at least 0.5 per cent of the GDP, noting that this was almost what the government spent on health care.
“Politicians are scared to end the subsidy. An attempt to do so in 2012 led to massive protests.
“Although the government has expanded the school-feeding programme and is working on a safety net for the poor, most citizens get few benefits from the state,” it added.
For Nigeria to prosper, it said the government should harness the potential of its 200 million citizens.
It said currently, the citizens were ignored except when politicians needed votes.
The Homat Megalite Event Centre, Igbogbo Road, Ikorodu, was filled to capacity penultimate Friday as Bottomline Media hosted the 2nd edition of the Ikorodu School Summit & Awards
With the theme, “Combating the Menace of Poor Orientation and Moral Decadence in Society,” the summit brought together students, teachers, school owners, parents, faith leaders, and security chiefs for a day of truth-telling, awards, and renewed commitment to rebuilding values in the society.
Supported by Education District II and LASUBEB, the summit has quickly become one of Ikorodu’s most important platforms for education, character, and community security.
The event recorded a strong presence from Nigeria’s security institutions. The Lagos State Commissioner of Police, CP Fatai Taiwo, was represented by the Area N Area Commander, Ijede, with the DPO, Igbogbo Police Station, CSP Akinola Clement who deployed full police security for summit also in attendance.
Speaking on behalf of the CP, the Area Commander commended Bottomline Media for the initiative and said there is an urgent need to “start early in educating the younger ones on moral uprightness.”
“An intelligent student without purpose and character will become an intelligent criminal,” he warned. He challenged society to pay more attention to values than to criminal success. “We celebrate criminal success at the expense of values. That must change if we want a safer Nigeria.”
The National Drug Law Enforcement Agency, NDLEA, Ikorodu Area Command, led by DCN Jonax David, delivered a hard-hitting lecture on the dangers of illegal and abusive drugs. The agency linked drug abuse directly to moral decadence and rising crime rates across the country.
NDLEA called on parents, schools, religious leaders, and teachers to do more in prevention and early intervention. The session left students asking questions and teachers requesting follow-up sensitization in schools.
Guest Speaker, Pastor Lanre Temenu, Pastor, Chapel of Transfiguration, COT Solution Centre, LASUTECH, anchored the moral conversation. His message on discipline, purpose, and right orientation resonated with audience who filled the hall from various discipline.
Dr. Henry Obidi anchored the programme with professionalism and energy, ensuring the day ran seamlessly from opening to the final award.
Proprietor of Homat Schools, Alhaji Olawale Amusa, hosted the summit at the Homat Megalite Event Centre, providing the venue that made the large turnout possible.
The awards segment was the emotional high point. Seven Prominent individuals and institutions were honoured and received a full 60-second standing ovation from the audience.
60-Second Standing Ovation Honorees
1. CP Fatai Tijani: Commissioner of Police, Lagos State Command
2. Lagos State Ministry of Education
3. Lagos State Ministry of Information & Strategy
4. Femi Falana, SAN , Legal luminary
5. Hon. Jimi Benson Member, House of Representatives, Ikorodu Federal Constituency
6. Senator Mukhail Adetokunbo Abiru, Senator, Lagos East Senatorial District
7. Ikorodu Division Peace & Security Initiative, Ikorodu
Champion of Moral Excellence & Societal Values Award
1. Lawrence Obilana: Proprietor, Meaning Resources School
2. Owenaze Blessing Ella: Managing Director, Unique Prella Schools
3. Pastor Lanre Temenu: Pastor, Chapel of Transfiguration, COT Solution Centre, LASUTECH
4. Princess Mulikat Fehintola Sanni, CEO, Mulifelong Motors
Excellence Recognition Award
Hon. Deen Sanwola, Mrs. Eyitayo Mojisola Olawunmi, Alhaji Taiwo Abiodun Odumbo, Dr. Henry Obidi, Alhaji Olawale Amusa.
Dr. Hakeem Babatunde Shittu: Executive Chairman, LASUBEB, Mr. Adesegun Ogundeji – Director of Public Affairs, Ministry of Information & Strategy, Dr. Bishop Joseph Edoro, Mr. Omotayo Layemo Sanni – Tutor-General/Permanent Secretary, Education District II, Hon. Mobolaji Abubakre Ogunlende, DCN Jonax David – Area Commander, NDLEA Ikorodu, and Engr. Mukadas Opeodu.
Education & School Excellence Awards
1. Miss Oyebode Sekinat Kofoworola, Civil Service Senior Model College, Igbogbo – _Outstanding Teacher of the Year_
2. Government Senior Model College, Owutu – _Outstanding Secondary School in Output_
3. Miss Alabi Taiwo Patience, Ikorodu Junior Grammar School – _Best Innovative School_
4. Lagos State Girls Junior Model College, Agunfoye – _Outstanding School with Best Learning Environment_
5. Mrs. Bolanle Moronkola Esho, Lagos State Civil Service Junior Model College, Igbogbo – _Best Education Administrator_
From the packed hall to the interactive Q&A, the summit achieved its goal: to confront poor orientation head-on and equip the next generation with character to match their intelligence.
Arthur Igbolaju Richard, Convener, Ikorodu School Summit & Awards 2.0 and CEO, Bottomline Media, said the goal is to make the summit an annual movement. “When students hear from the Police, NDLEA, Lawyers, teachers, and faith leaders in one room, the message is clear: society is watching, and society cares. We will keep building this table.”
With Education District II, LASUBEB, NDLEA, and the Nigeria Police on board, Ikorodu School Summit & Awards 2.0 ends as more than an event. It ends as a call to action.
#IkoroduSummit2.0 #ValuesFirst #BottomlineMedia
Wema Bank has introduced a new jingle to mark the next phase of its digital banking journey, tagged the ALAT: The Evolution jingle. Designed to capture the energy of a smarter and more seamless banking experience, the jingle is bright, catchy, and full of life. It reflects a platform built to simply work, pairing sound with innovation as ALAT: The Evolution steps forward with enhanced features and a refreshed user experience.
Everyday banking can often feel routine or even stressful, with multiple steps and delays slowing things down. The ALAT: The Evolution jingle reimagines that experience with a lively and confident tone that mirrors the app’s capabilities. From voice banking with SAW to Tap and Pay and bank uptime prediction, each feature is echoed in the rhythm and flow of the sound. It brings to life the speed, convenience, and reliability that define this new phase of ALAT: The Evolution.
More than just music, the ALAT: The Evolution jingle represents a clear statement of intent. It signals a shift towards banking that feels natural, responsive, and in tune with the user. As customers update their app and explore ALAT: The Evolution, the jingle serves as a reminder that a better, smoother way to bank is already here. Wema Bank is not just evolving its technology; it is shaping how banking feels.
Adron Homes and Properties Limited has reaffirmed its commitment to preserving Nigeria’s rich cultural heritage and fostering community development through its sponsorship of the 39th edition of the Lisabi Festival, one of the most revered cultural celebrations of the Egba people.
Held under the distinguished leadership of Oba Adedotun Aremu Gbadebo, the festival remains a symbolic institution that celebrates the unity, resilience, and historical legacy of Egbaland. It pays tribute to the legendary warrior Lisabi Agbongbo Akala, whose courage and leadership united the Egba people and secured their freedom.
Through this strategic sponsorship, Adron Homes and Properties Limited continues to position itself not only as a leading real estate developer but also as a custodian of culture and a partner in sustaining the traditions that shape communities across Nigeria.
Speaking on the importance of the festival, Oba Gbadebo emphasized that Lisabi serves as a vital platform for preserving the Egba people’s values, traditions, and identity, while inspiring younger generations to remain connected to their cultural roots.
For Adron Homes, the partnership reflects a deliberate alignment with the socio-cultural aspirations of Egbaland. By supporting the festival, the company is contributing meaningfully to the preservation of indigenous heritage, the promotion of unity, and the celebration of a people whose influence continues to shape the cultural landscape of Abeokuta and beyond.
Notably, Abeokuta, the capital of Ogun State is also home to key Adron Homes developments, including the prestigious Adron Homes Sunrise Park and Gardens located in Alabata, and Southgate Park and Gardens Estate in Alamala. These flagship estates further reinforce the company’s deep-rooted presence and long-term investment in the socio-economic growth of the region.
The 2026 edition of the Lisabi Festival, themed “Integrating Apprenticeship Training into Education: Opportunities and Challenges,” highlights the intersection between tradition and modern development, an area where Adron Homes continues to make an impact through its community-driven initiatives.
The festival will feature a vibrant lineup of cultural and social activities, including the iconic Woro procession, traditional rites, arts and crafts exhibitions, educational programmes, and community engagements, all reflecting the richness of Egba heritage.
