Nigeria

By Aisha M Auyo

Introduction

With the rise in the cost of living, the removal of fuel subsidies, and other factors affecting the average Nigerian, I thought about how we could do something to augment our income. A business or service that will bring more into our account, known as a side hustle, depends on our skills and capital.

In this write-up, I will start with a business idea that requires ₦10,000 or less, and I plan to progress to a more complex skill and larger capital investment.

So, what’s a side hustle? A side hustle is an additional employment opportunity unrelated to a person’s full-time job that provides supplemental income. In other words, a side hustle is a way to earn extra income in addition to a full-time job. With the extra money, it may be easier to pay bills, contribute to savings, or assist with other expenses.

The additional income could also help turn your side hustle into a growing business. Unlike a part-time job, a side hustle usually offers more freedom and more control over what a person does, when they do it, and how many hours they devote to it.

Individuals can usually pursue a side hustle that involves their passions and talents, and some may eventually make their side hustle their primary career. If you’re interested in making extra money outside of your full-time job or want to explore a new career, consider starting a side hustle.

To pursue one successfully, it is helpful to choose the type that matches your interests, skills, and professional goals. Learning more about side hustles might allow you to earn money while doing something that engages you and gaining professional experience in a new field.

Benefits of having a side hustle

1. Gaining flexibility: Individuals typically manage the time they dedicate to their side hustle, making it easier to integrate into their existing schedule as full-time employees. By controlling their schedule, they can make their side hustle accommodate other events or commitments they have while still earning additional income. This may help them gain flexibility and maintain employment in their existing role while also pursuing their passion.

2. Improving your finances: A side hustle is a way to earn additional income in addition to a full-time job. With the extra money, it may be easier to pay bills, contribute to savings, or assist with other expenses. The additional income could also help turn your side hustle into a growing business.

3. Exploring Your Passions: One advantage of a side hustle is the opportunity to pursue a career you’re passionate about. Pursuing your passions as part of a side hustle may allow you to develop your side hustle into a career. You can also develop specific skills that may help make your side hustle successful.

In this article, I’ll discuss 16 ideas for side hustles you can try with a capital of ₦10,000 or less. They are as follows:

1. Tutor/Lesson Teacher: Many families seek extra help with their children’s schoolwork. Offering tutoring services can be a successful side hustle, and helping students can be rewarding. This side hustle may accommodate a full-time job since many tutors only work before or after school hours. I advise you to find students near your area so you can walk or commute for less than 500.

2. Babysitting: With many nursing mothers going to work or other engagements daily, the need for a babysitter has risen. Also, the lack of relatives and extended family households has given rise to mothers depending on others to help with their children. You can stay at the person’s home and look after their children, or the baby could be brought to you if you live in a baby-friendly environment.

3. Cleaner: This side hustle offers a variety of options, including cleaning residential homes and commercial businesses. Additional service options could include cleaning the interior, exterior, or both aspects of buildings. You may offer as many or as few of these services as you wish, and you could charge different prices depending on the service.

4. Car wash: Offer to wash cars in your neighborhood or find a local car wash where you can assist the owners when they’re overwhelmed.

5. Technology repairer: If you have an affinity for technology, a potential side hustle could be repairing technology. This could include fixing computers, laptops, smartphones, or tablets. These devices are a big part of many people’s lives for work and leisure, and some pay for repairs on these devices. You may have the option to control how these repairs come to you, such as having them sent through the mail, having clients bring them to you, or picking them up yourself.

6. Rental property manager: If you own a residential or commercial space, renting it out could be a successful side hustle. Whether you rent it out short-term or long-term, and for businesses or vacations, there are many options and potential clients. You can either advertise on your own or use real estate sites or companies that can help you reach potential renters.

7. Personal trainer: Helping others reach their fitness goals can be a very rewarding side hustle. You can maintain a schedule of clients around your availability, and you could work at a public gym or park your facility if you have one. There are certifications and licenses you may be interested in earning as you enter this job field.

8. Tailoring: If you have experience in tailoring and sewing, another side hustle could be doing alterations. This is when a customer visits a tailor to have their garments altered to fit their bodies. A common example is wedding dresses, as many brides order dresses and have tailors alter the dresses to their exact measurements.

9. Plaiting hair: If you have the skill of plaiting hair, you can do this in your free time. If customers aren’t coming, you can offer to do home service in your neighborhood or places not far from your area. Home service also allows you to meet others who might want their hair done.

10. Henna design: In this era of women wanting to look their best, henna design has come to stay. Women want to adorn themselves with this natural product. If you have the skill of either red henna, dye, Rani, or Sajem design, offer to do it at your place or provide home services. These things sell and don’t cost a lot.

11. Manicure and pedicure: Working-class women and men want to pamper themselves and look their best. So, getting their nails, feet, and toes done is something they will need. The tools for this service may not cost up to 5k. Also, home service will work just as well if one doesn’t have space.

12. Roasting corn/plantain/yam: This business is ubiquitous, yet we can’t get enough of it. Try roasting on the roadside along a busy route in your area when you are free. Buying corn, plantain, or yam for a start-up won’t cost more than 2k, then add coal and a rack for roasting.

13. Making snacks: Making small chops or snacks for events or daily for schoolchildren and workers is another way to get a steady income. Parties and social functions are always coming up. You can even offer a home service where the client buys all the ingredients, and you make the snacks for them to refrigerate.

14. Selling drinks/Zobo/kunun aya: Depending on the weather, cold drinks always sell. But with the advent of health awareness and the vices of carbonated drinks, people are opting for natural drinks. Nonetheless, one can combine natural and carbonated drinks in a bucket with ice. This will cost less than 10k.

15. Selling fruits and vegetables: Fruits and vegetables are always needed, and not everyone has the luxury of going to the market or store every day. So, bringing these to their location will always be welcome, from cucumbers, bananas, plantains, peppers, carrots, or onions. One can always get a customer needing one of these.

16. Online advertisements: If you are an internet user, you can help with social media posting or managing business accounts. You can take videos or pictures of items and advertise them, then get paid for your efforts. If you have many contacts on WhatsApp, you can advertise products and services on your status and get paid for doing so.

Which of the above businesses sounds appealing or doable to you? Is this feature helpful? In what ways? Please share your thoughts with us.

Aisha Musa Auyo is a doctoral researcher in educational psychology, a wife, a mother of three, a homemaker, a chef, and a parenting/relationship coach. She can be reached via aishamuauyo@live.co.uk.

By Mukhtar Sani Yusuf

Nigeria grapples with a multitude of complex challenges that defy easy solutions. While there is no single panacea, I firmly believe that by addressing two crucial elements, the nation can transcend its current predicaments and ascend to greater heights.

The pivotal factors that can propel Nigeria toward progress are effective leadership and a collective shift in the attitudes of its citizens. It is imperative that we harmonize these two aspects to achieve the transformative outcomes we aspire to see.

One prevalent tendency is to attribute Nigeria’s woes solely to its leaders, given their authority and access to resources for nation-building, economic development, law enforcement, and governance. Regrettably, instances abound where leaders have misappropriated resources or allowed wrongdoers to evade accountability, further exacerbating our challenges.

However, it is imperative to recognize that even with competent leaders at the helm, the onus lies on us to cultivate a positive mindset that complements leadership efforts in nation building. While poor governance accounts for a significant portion of our struggles, the remaining share of responsibility rests on our collective attitudes toward various facets of society.

Consider this: whether you are a laborer, teacher, banker, or any other professional, are you genuinely fulfilling the expectations set by your employers or clients?

Acknowledging our fallibility as humans, it is crucial to introspect and ascertain whether the majority of our actions align with ethical standards. If not, we must acknowledge our role in perpetuating challenges and recognize that transformative change begins with personal responsibility.

When juxtaposed with developed nations, the disparity is not due to any inherent superiority but rather the dedication of their citizens to national progress. Rome was not built in a day; it required a relentless commitment and a patriotic work ethic from its inhabitants. Similarly, Nigeria holds immense potential, with its vast population and abundant resources, waiting to be harnessed for prosperity.

To witness the transformation we yearn for, each of us must instigate a change in attitude within our spheres of influence. We must combat corruption, reject impunity, uphold honesty, punctuality, and dedication in our endeavors, make informed electoral choices, and embody patriotism that prioritizes the national interest. Without these shifts in mindset, the utopia we envision for Nigeria remains elusive.

In essence, the solution to Nigeria’s challenges lies not in a singular solution but in the collective evolution of our attitudes. The nation’s reservoir of human capital and natural resources presents boundless opportunities for progress, awaiting judicious utilization.

May Nigeria and its people be blessed on this journey towards a brighter tomorrow, amin.

Mukhtar Sani Yusuf wrote from Kano.

By Abubakar Idris

From the beginning of February 2024, there has hardly been a Nigerian daily without a headline about the country’s economic hardship. For example, on Tuesday, 6th February 2024, Premium Times Nigeria reported a ‘protest over economic hardship in Minna – the capital city of Niger State’. Tribute Online, among other news agencies, also reported similar cases with traders in Kogi State and elsewhere. In such a precarious economic climate, no doubt, any additional financial strain is nothing short of a burden.

The cost of living in Nigeria is just too high. It is increasing as the country battles double-digit inflation and multidimensional poverty among most citizens and ranks with the highest unemployment rate. Whether the talk is about the ultra-expensive medication and foodstuff we couldn’t do without buying, or the non-subsidized petroleum and electricity products and services we must patronise, or any other inflated resources of necessity [take out luxury], it is clear that the income from work of an average Nigerian is not close to been enough to scale them out of Maslow’s first stage of Need Hierarchy! From Adamawa to Kebbi, Borno to Lagos, Katsina to Bayelsa, and Sokoto to Akwa Ibom, the distinction in our sociocultural variables exerts little difference on the state of suffering. Everywhere, the story is just the same.

By the look of things, the next generation of Nigerians, one hopes not, will be left with two very difficult options: either ‘not schooling’ or ‘getting education only outside their own country’. This assumption is based on the premise that education in this part of the world is at high speed on its way to its grave. At the same time, relevant stakeholders, especially the government, seem to be walking on a turtle’s back in their effort to reverse the disaster. 

As much as this line of thinking sounds pessimistic, it is the only reality one can grasp. In all honesty, any variation from this understanding is, or at least could be taken for, vague. This is because the conclusion is born out of an in-depth analysis of the current situation in which the country found itself.

While the Senate summoned ‘economic team’ over the worsening economic situation, as was made known to the general public on Wednesday, 7th February 2024, Punch Newspaper quoted the National Association of Nigerian Students (NANS) as lamenting about “rising inflation and economic hardship” on the same day. It’s a talk about a for-long burning fire in the backyard. Namely, an increase in tuition fees in tertiary institutions. Calling it by its name, it’s a time bomb – one more wrong move and all the huts are burnt down! 

After all, this is not the first time the said students’ union has been crying over the worsening Nigerian condition, engaging the nation’s leadership, holding it accountable, and insisting on doing the right thing – particularly regarding their education. The students are too familiar with the terrain to help others navigate it. 

On different occasions since early last year, when universities started increasing their tuition fee by at least 200% in the University of Maiduguri and even up to 300% in Ambrose Alli University, Ekpoma, Edo State, NANS and other social activists such as Femi Falana (SAN) keep urging the federal government to reverse the hikes. All in vain! To date, only a few universities have not been affected by such increases. I have since saved my heart by refusing to learn about the number of students who dropped out because of the hikes.

Worth noting is that, for parents, education has always been a top priority. They sacrifice and scrimp to ensure their children receive the best possible education, often compromising and forgoing their own needs. However, the recent spike in school fees has turned this daunting task into an uphill battle. Education is supposed to be the great equaliser, offering every person a chance to succeed regardless of their background. However, this fundamental principle is being undermined by excessive school fees. Education is fast becoming a privilege reserved only for the affluent while the less fortunate struggle to keep up.

Four (4) months ago, nationwide research by the Leadership Newspaper showed a “concern that university education may soon be out of reach of the children of ordinary Nigerians [the concern of which] was prompted by the [hitherto] recent pronouncement by the minister of education, Professor Tahir Mamman, that the federal government will grant full financial autonomy to public universities.” Or, in simpler terms, the government will stop sponsoring the education entities.

Whatever the reasons the universities and government hold for the tuition fee increase, it needs no saying: the timing couldn’t be more inappropriate. At a time when parents are already stretched to their limits financially, the additional burden is pushing many families to the brink of financial ruin. Some parents are forced to make agonising decisions –between paying school fees or putting food on the table, between investing in their children’s future or simply making ends meet.

Moreover, experts believe that the impact of rising school fees extends far beyond the financial realm. It creates a sense of insecurity and uncertainty among students, affecting their ability to focus on their studies and excel academically. It also perpetuates inequality, widening the gap between the haves and the have-nots and depriving countless children of the opportunity to realise their full potential.

In light of these challenges, action must be taken to address the issue of rising school fees – with reversing the recent changes being the most important. Take the so-called ‘Students Loan Act’ out of the equation for a while; government interventions such as subsidies or financial assistance programs are urgently necessary to help alleviate the financial burden on parents and ensure that education remains accessible to all. 

Educational institutions also have a role to play by implementing transparent fee structures and exploring alternative funding sources. In case they become autonomous, let there be partnerships between them and the private sector.

Finally, stakeholders at all levels ought to prioritise education and take decisive steps to mitigate the impact of rising school fees. The country’s future depends on it, and we cannot afford to let financial barriers hinder our dreams and aspirations. It’s time to ensure that education remains a beacon of hope and opportunity for every Nigerian, regardless of economic circumstances. Until something is done, the protests witnessed in many institutions from the southern part of the country could translate to a security challenge that promises to consume a great pool of the nation’s young talents. Allah Ya kiyaye!

Abubakar Idris “Misau” is a graduate Forestry and Wildlife from University of Maiduguri. He writes from Yola, Nigeria, and can be reached via mail at abubakaridrismisau@gmail.com.

Sabiu Abdullahi

The Comptroller General of Customs (CGC), Bashir Adewale Adeniyi, in a bid to bolster security measures and foster stronger ties, convened a collaborative meeting with the Defence Intelligence Agency (DIA) at the Nigeria Customs Service (NCS) Corporate Headquarters on February 19, 2024. 

During the session, CGC Adeniyi underscored the paramount importance of the collaboration, stating its role in maintaining and deepening existing relationships between the NCS and the DIA.

He reiterated the NCS’s commitment to partnership, citing cooperation with other customs administrations and government agencies as pivotal for growth. 

“The major objective of this delegation is to maintain and deepen the relationship between the Nigeria Customs Service and the DIA. For the records, the Nigeria Customs Service believes in collaboration. We believe that we can draw strength from collaborating with other government agencies,” said CGC Adeniyi. 

Highlighting past collaborative efforts, particularly in capacity building and security projects, CGC Adeniyi affirmed the NCS’s dedication to working hand in hand with the DIA.

He referenced initiatives such as the partnership with the Armed Forces Command and Staff College, aimed at enhancing the proficiency of customs officers. 

Expressing a keen interest in further cooperation, CGC Adeniyi stated the importance of robust intelligence sharing to effectively address significant security challenges along border areas and enhance the overall efficiency of customs officers. 

“It is our strong desire to deepen this kind of partnership to ensure that we benefit more from it,” he reiterated. 

In response, Air Vice Marshal Samuel Chinda, representing Chief of Defence Intelligence Major General Emmanuel Parker, lauded the collaboration with the NCS, highlighting its pivotal role in combating border threats.

AVM Chinda reiterated the DIA’s openness to partnerships in training and operational endeavours with the Nigeria Customs Service, underscoring the agency’s commitment to strengthening ties for future collaborations. 

The collaborative efforts between the Nigeria Customs Service and the Defence Intelligence Agency signify a proactive approach towards enhancing national security measures and fortifying the nation’s borders against emerging threats.

As both agencies continue to deepen their partnership, the prospects for improved intelligence sharing and coordinated operations are expected to contribute significantly to safeguarding the nation’s territorial integrity.

By Sabiu Abdullahi 

Finance Minister Wale Edun acknowledged the daunting task inherited by the current administration led by President Bola Tinubu in a recent announcement at the Public Wealth Management Conference held in Abuja.

The minister addressed the pressing issue of escalating food and commodity prices, attributing them to challenges passed down from the previous government. 

Minister Edun assured the public of ongoing efforts to mitigate the burden of high inflation rates and reduce the cost of essential food items.

He stated this with the populace, acknowledging the hardships faced by Nigerians and affirming the government’s commitment to implementing measures aimed at alleviating their suffering. 

The announcement comes amidst growing concerns over the economic strain faced by citizens, with soaring prices of basic necessities impacting households nationwide.

Minister Edun’s reassurance of governmental action seeks to instill confidence in the populace and demonstrate a proactive approach to economic stabilisation and welfare enhancement. 

As the nation grapples with economic uncertainties, the promises made by the Finance Minister signal a concerted effort by the government to prioritise the well-being of its citizens and navigate through prevailing challenges towards a more prosperous future.

By Sani Bello Hamza

When Ola Aina, the Super Eagles fullback, missed the penalty during the semi-final of AFCON 2023 against South Africa, someone close to me uttered an abusive word in the Hausa language. He said, “shege Bayarabe.” From the way he voiced it, you could tell it was not intentional. He was unconscious, as we all were, and it came out of his subconscious mind. That is a typical example of what Nigerians are and how we hate one another.

A South-easterner feels isolated and does not want to be associated with the North. A Northerner also feels the South-easterners are “arna” and sees no need to relate or intermingle with them. I once came across someone who is happy and thanking God for the blessing of not visiting a particular region. You will sometimes think hatred is naturally instilled in us.

Malam Nasir El-Rufai was once seen on air lamenting how Nigerians from various parts of the country react to his social media posts. Whenever he posts an update, no matter how small, the Northerners would be there to hail and applaud him. While his counterparts from the South would abuse and curse the former governor. Why is this the case? Is it because he is from the North?

Anyway, what made me happier after the penalty shootout was not only the fact that Nigeria advanced and made it to the final, but how I saw my fellow students, regardless of their gender, age, religion, social class, and political affiliation, celebrate the significant win for our dear country. It was one of the joyous moments of my life.

Not only at ABU, I came across videos of students from other universities and communities celebrating the great win. Others went ahead to celebrate with the family of our unbeatable keeper, Nwabali. They refused to let anyone stop them.

The same thing happened during the final when we all turned up at various locations to support and cheer the Super Eagles. Even though we did not clinch the title, the outcome of the final will be a topic for another day.

Okay, back to the subject matter.

After the jubilations were over, a question popped into my mind. I said to myself, “Who is dividing Nigeria and Nigerians? Who is spreading hatred among Nigerians? Who is fueling and igniting the fire of hatred among us?”

An Igbo man is always looking for an opportunity to curse a Hausa man, and a Hausa man is always scouting for an opportunity to unleash his abusive prowess on Igbos or Yorubas for the slightest reason.

How come do we sit under the same umbrella, supporting and praying for the Super Eagles to win? Who then is creating these divisions in our country?

To answer the question above, I believe that the root of our division in Nigeria lies in rumors and mere speculations. Most of the people fueling the fire of hatred are those who have either not traveled outside their jurisdiction or refuse to open their minds to accommodate people from other regions. They limit their thinking to their regions and consume whatever they find in the media.

The above answer may not be sufficient, but as people living in the same region, if we do not speak the same language or wear the same attire, we share the same history and are meant to be together—this is undeniable. The richness and strength in our diversity are stronger than the weaknesses. So why should we opt for the weaknesses? Come on, fellow compatriots, think!

We must learn from the lessons of the 2023 AFCON: to shun our peculiarities and differences if we must progress as a nation. Our diversity should be a source of pride, not the opposite.

Sani Bello Hamza is a Law student at Ahmadu Bello University Zaria. He writes from Zaria and can be reached via sanibellohamza@gmail.com.

By Sabiu Abdullahi

There was a sad moment at the Zoological Garden of the Obafemi Awolowo University (OAU) in Ile-Ife on Monday as a 9-year-old male lion attacked and killed Mr. Olabode Olawuyi, a long-serving veterinary technologist responsible for animal care. 

Mr. Olawuyi, reportedly in charge of the zoo for over a decade, was feeding the lions in their den when the incident occurred.

According to university officials, Mr. Olawuyi had cared for the animals since their birth nine years ago. Despite attempts by colleagues to intervene, the lion inflicted fatal injuries, leading to Mr. Olawuyi’s passing. 

Upon receiving the news, university management, led by Vice-Chancellor Professor Adebayo Bamire, visited the scene and offered condolences to the deceased’s family.

Professor Bamire confirmed that “all first aid and medical efforts to save the life of the victim proved abortive.” 

Following the incident, the aggressive lion was euthanized to ensure the safety of remaining staff and animals.

Additionally, a thorough investigation into the cause of the attack is underway. 

This tragic event raises questions about zoo safety protocols and the risks associated with close interactions between humans and wild animals.

It follows similar incidents in 2018 and 2022, where lions attacked and killed individuals in South Africa. 

The OAU community mourns the loss of Mr. Olawuyi, a dedicated caretaker remembered for his passion for animal welfare.

The university’s investigation aims to determine the circumstances surrounding the attack and prevent similar tragedies in the future.

By Ibrahiym A. El-Caleel

Muhammad Mansur Ibrahim Sokoto mni, a professor at Usmanu Danfodiyo University Sokoto (UDUS) and the Chief Imam of Abu Hurairah Mosque, has commented on recent initiatives by the Kano State Public Complaints and Anti-Corruption Commission (PCACC) and the Federal Competition & Consumer Protection Commission (FCCPC) aimed at addressing the escalating inflation nationwide. His remarks follow President Bola Tinubu’s commendation of PCACC’s efforts in scrutinizing the alleged hoarding of goods by businesspeople.

The President, who spoke through his Special Adviser on Information & Strategy, Bayo Onanuga, lauded the Kano government and urged other state governors to follow suit. Earlier on Friday, FCCPC also reportedly sealed Sahad Stores, a popular Abuja shopping mall, over “misleading pricing practices and lack of transparency”, later reopening it after reaching a mutual understanding with the store.

The actions of PCACC and FCCPC have triggered discussions on social media as Nigerians grapple with rising commodity prices. Under Barrister Muhuyi Magaji Rimingado’s leadership, Kano State PCACC has reportedly sealed over a dozen warehouses, accusing businessmen of hoarding grains and essential commodities.

A widely circulated video showed a warehouse owner explaining that the stored grains were intended for supply to NGOs like the United Nations and ECOWAS, engaged in aiding internally displaced persons (IDPs) in North-Eastern states.

Professor Mansur Sokoto mni weighed into the conversation in two separate posts on his Facebook profile, initially posing five critical questions:

1. “Is the ongoing food inflation solely attributable to businessmen storing grains in warehouses?
2. Without warehouses for grains, where will imported commodities be stored before distribution for purchase?
3. Does the surge in prices affect only food, or are other commodities like steel, wood, gold, petrol, and clothing also impacted?
4. Have commodity prices simply risen, or is the devaluation of the Naira a contributing factor? If Naira devaluation is the cause, who is responsible?
5. Are the commodities stored in these warehouses completely unavailable in the market, indicating hoarding?

The Islamic scholar emphasized that leaders should be aware of the actual sources of the prevailing hardship and avoid actions that exacerbate challenges. Responding to a commenter’s question on Islam’s stance on hoarding, Professor Sokoto clarified the following six points on what is permissible (halal) and forbidden (haram):

1. It is permissible for an individual to cultivate food crops in any quantity, whether for personal consumption or for storage, with the intention of selling at a later time, provided that he/she has fulfilled the obligatory almsgiving, known as “Zakah”.

2. It is permissible for an individual in need of food to purchase, consume, and store it to prevent potential future cost increases.

3. It is permissible for a businessman to store food crops that he has ordered, intending to sell them later, periodically, according to market demand.

4. It is permissible for a businessman to purchase a food crop during its season, anticipating future value increases, with the intention of selling it for profit. This is permissible according to a valid opinion.

5. It is both permissible and even encouraged for financially capable individuals to buy what they and their families will consume- including items they will give as charity- for a long time, especially when food prices are rising without clear signs of decline. This perspective aligns with the viewpoint of Shaikh Ibn Uthaimeen.

6. What is NOT permissible is for businessmen to acquire food during periods of high prices and hoard it with the intention of causing hardship to the public. Similarly, it is forbidden for businessmen to accumulate and store food during scarcity periods, withholding it from the market until demand peaks. At this point, they sell it at exorbitant prices. In such instances, government authorities are authorized to compel the businessman to sell the stored food at the standard market price without imposing a loss on the sale.

Having outlined these positions, Professor Sokoto critiqued the recent actions of breaking into warehouses, deeming them inappropriate. He questioned whether the businessmen violated Nigerian laws, emphasizing that their practice is not against Islamic injunctions as they maintain inventory for trade and strategic partnerships.

He implored the government to investigate the actual causes of hardships, citing fuel subsidy removal, Naira floating, border closure, and taxation as contributors. Professor Sokoto cautioned against temporary solutions, advocating for sustainable measures and discouraging the use of the National Strategic Grain Reserve to artificially lower food prices. He drew lessons from past strategies and urged the government to avoid short-term approaches.

By Muhammad Abdurrahman

Former Vice President, Alhaji Atiku Abubakar, tackles President Bola Ahmed Tinubu over the hardships caused by the latter’s policies since assuming office as President in May 2023.

In a post on his verified social media handles, Atiku calls out Tinubu, calling the steps taken by his administration to contain the crises of currency fluctuation and poverty many people face in Nigeria “failures.”

The statement reads:

At a meeting called at his instance on Thursday to address the Foreign Exchange crisis and the problem of economic downturn, among others, Bola Tinubu failed, yet again, to showcase any concrete policy steps that his administration is taking to contain the crises of currency fluctuation and poverty that face the country.

Rather, he told the country and experts who have been offering ideas on how to resolve the crisis that he and his team should not be distracted and allowed time to continue cooking their cocktail that has brought untold hardship to the people of Nigeria.

I don’t agree with that.

The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when, clearly, the government has demonstrated sufficient poverty of ideas to redeem the situation.

If the government will not hold on to their usual hubris, there are ways that the country can walk out of the current crisis.

After a careful assessment of the state of our economy at the twilights of the last administration, I knew full well that the economy of the country was heading for the ditch and came up with a number of policy prescriptions that would rescue the country from getting into the mess that we are currently in.

Those ideas, encapsulated in my policy document titled: My Covenant With Nigerians made the following prescriptions:

1. I had signed on to a commitment to reform the operation of the foreign exchange market. Specifically, there was a commitment to eliminate multiple exchange rate windows. The system only served to enrich opportunists, rent-seekers, middlemen, arbitrageurs, and fraudsters.

2. A fixed exchange rate system would be out of the question. First, it would not be in line with our philosophy of running an open, private sector friendly economy. Secondly, operating a successful fixed-exchange rate system would require sufficient FX reserves to defend the domestic currency at all times. But as is well known, Nigeria’s major challenge is the persistent FX illiquidity occasioned by limited foreign exchange inflows to the country. Without sufficient FX reserves, confidence in the Nigerian economy will remain low, and Naira will remain under pressure. The economy will have no firepower to support its currency. Besides, a fixed-exchange rate system is akin to running a subsidy regime!

3. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option. In simple terms, in such a system, the Naira may fluctuate daily, but the CBN will step in to control and stabilize its value. Such control will be exercised judiciously and responsibly, especially to curve speculative activities.

4. Why control, you may ask.

(i). Nigeria has insufficient, unstable, and precarious foreign reserves to support a free-floating rate regime. Nigeria’s reserves did not have enough foreign exchange that can be sold freely at fair market prices during crises.

(ii). Nigeria is not earning enough US$ from its sales of crude oil because its production of oil has been declining. And,

(iii). Nigeria is not attracting foreign investment in appreciable quantities.

These are enough reasons for Nigeria to seek to have a greater control of the market, at least in the short to medium term when convergence is expected to be achieved.

Tinubu’s new policy FX management policy was hurriedly put together without proper plans and consultations with stakeholders. The government failed to anticipate or downplayed the potential and real negative consequences of its actions.

The Government did not allow the CBN the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.

I firmly believe that if and when the Government is ready to open itself to sound counsels, as well as control internal bleedings occasioned by corruption and poorly negotiated foreign loans, the Nigerian economy would begin to find a footing again. – AA

By Sabiu Abdullahi 

Engausa Global Tech Hub in Kano has been singled out by the Nigerian Institution of Mechanical Engineers (NIME).

Engr. Lawan Usman Isa, the Chairman of the Kano Branch of NIME, lauded the hub during a recent visit, highlighting its bilingual teaching approach and its potential to impact skills knowledge nationwide. 

Engr. Isa commended Engausa for its innovative teaching methods, which incorporate both Hausa and English languages, as he shows the importance of such approaches in enhancing technical education across the country.

The engineers’ delegation expressed admiration for Engausa’s dedication to empowering youth and fostering personal growth, recognising the pivotal role of skill development in community transformation. 

Echoing the sentiments of NIME, Engausa’s founder, Engr. Mustapha Habu Ringim, indicated the hub’s mission to overcome language barriers and promote technical knowledge.

Established four years ago, Engausa Global Tech Hub aims to revolutionise technical education by prioritising practical skill acquisition over mere certification. 

“Our focus is on human capital development and technical skill acquisition,” Ringim affirmed.

He emphasised the hub’s success in training students in Hausa, enabling better comprehension and application of technical concepts, particularly among marginalised groups such as Almajiris and out-of-school children. 

Highlighting the hub’s impact, Ringim noted that many of its graduates are now gainfully employed, underscoring the efficacy of Engausa’s approach in addressing societal challenges such as unemployment and educational exclusion. 

As Nigeria strives to advance technically and bridge the skills gap, collaborations between institutions like NIME and pioneering hubs like Engausa Global Tech Hub are crucial.

By harnessing innovative teaching methodologies and prioritising practical skills development, initiatives like Engausa are poised to play a pivotal role in shaping the nation’s technical landscape and fostering inclusive development.