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Few Nigerians in 5 states, FCT, own majority of Nigeria’s wealth — Buhari 

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President Muhammadu Buhari, today, lamented the widespread inequality in Nigeria, stating that a significant proportion of the country’s wealth is concentrated in the hands of a few Nigerians.

Speaking in Abuja, at the opening session of the 25th Nigerian Economic Summit, NES,  Buhari disclosed that these few wealthy Nigerians are based in only five states of the federation and the Federal Capital Territory, FCT.

He, however, noted that the Federal Government was putting in place measures to promote inclusiveness, noting that over the last four years, the government had been focused on lifting a large percentage of Nigerians out of poverty, uplift the disadvantaged and encourage inclusivity. Wealth, prosperity not same He said,

“Today, many mistake prosperity with wealth. They are not necessarily the same. Experts and analysts explain economic trends by making references to indicators of wealth. Wealth, however, in its simplistic form, is money or other assets.

In recent years, global events have shown that when a society and its leaders are driven and motivated by these alone, the ultimate outcome is a divided state of severe inequalities. “But a prosperous society is one where the majority of its citizens have an acceptable standard of living and a decent quality of life. “Nigeria is a country with close to 200 million people living in 36 states and the FCT.

A significant proportion of Nigeria’s prosperity today is concentrated in the hands of a few people living primarily in four or five states and the FCT. Some of the most prosperous Nigerians are here in this room.”

Buhari further noted that from his recent visits to the United Nations, Niger Republic, Japan and South Africa, he observed the increased consensus by leaders, both government and in the public and private sectors, that to address population growth, security and corruption matters in developing economies, policies and programs must focus on promoting inclusivity and collective prosperity.

According to him, this shift implies that the concept of having competitive free markets that focus on wealth creation alone would be replaced by those that propagate the creation of inclusive markets which provide citizens with opportunities that will lead to peaceful and prosperous lives.

Only local solutions can solve Nigeria’s problems Furthermore, he advised participants at the summit to adopt proposals that are productive, inventive and innovative, adding that they should also be wary of the fact that Nigeria’s unique challenges can only be solved by made in Nigeria solutions.

“As a government, we very much look forward to our continued collaboration with the private sector in designing and implementing developmental projects that will keep Nigeria on track for sustained, inclusive and prosperity driven growth.”

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NELFUND: The Renewed Hope Engine Propelling Nigeria’s Youth into Tomorrow

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By Dayo Israel, National Youth Leader, APC

As the National Youth Leader of the All Progressives Congress, I have spent most of my tenure fighting for a Nigeria where every young person, regardless of their ward or local government, family income, or circumstance, can chase dreams without the chains of financial despair.

Today, that fight feels like victory, thanks to the Nigerian Education Loan Fund (NELFUND). Launched as a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda, this initiative isn’t just a policy tweak; it’s a revolution. And under the steady, visionary hand of Managing Director Akintunde Sawyerr, NELFUND has transformed from a bold promise into a roaring engine of opportunity, disbursing over ₦116 billion to more than 396,000 students and shattering barriers for over a million applicants.

Let’s be clear: NELFUND was always destined to be a game-changer. Signed into law by President Tinubu on April 3, 2024, it repealed the outdated 2023 Student Loan Act, replacing it with a modern, inclusive framework that covers tuition, upkeep allowances, and even vocational training—ensuring no Nigerian youth is left on the sidelines of progress.

But what elevates it from groundbreaking to generational? Leadership. Enter Akintunde Sawyerr, the diplomat-turned-executioner whose career reads like a blueprint for results-driven governance. From co-founding the Agricultural Fresh Produce Growers and Exporters Association of Nigeria (AFGEAN) in 2012—backed by icons like former President Olusegun Obasanjo and Dr. Akinwumi Adesina—to steering global logistics at DHL across 21 countries, Sawyerr brings a rare alchemy: strategic foresight fused with unyielding accountability.

As NELFUND’s pioneer MD, he’s turned a fledgling fund into a finely tuned machine, processing over 1 million applications since May 2024 and disbursing ₦116 billion—₦61.33 billion in institutional fees and ₦46.35 billion in upkeep—to students in 231 tertiary institutions nationwide. That’s not bureaucracy; that’s brilliance.

Sawyerr’s touch is everywhere in NELFUND’s ascent. Since the portal’s launch, he’s overseen a digital ecosystem that’s as transparent as it is efficient—seamless verification, BVN-linked tracking, and real-time dashboards that have quashed misinformation and built trust. In just 18 months, the fund has empowered 396,252 students with interest-free loans, many first-generation learners who might otherwise have dropped out.

Sensitization drives in places like Ekiti and Ogun have spiked applications — 12,000 in a single day in one instance, while expansions to vocational centers in Enugu pilot the next wave of skills-based funding. And amid challenges like data mismatches and fee hikes, Sawyerr’s team has iterated relentlessly: aligning disbursements with academic calendars, resuming backlogged upkeep payments for over 3,600 students, and even probing institutional compliance to safeguard every kobo. This isn’t management; it’s mastery—a man who doesn’t just lead but launches futures.

Yet, none of this happens in a vacuum. President Tinubu’s alliance with trailblazers like Sawyerr is the secret sauce securing Nigeria’s tomorrow. The President’s Renewed Hope Agenda isn’t rhetoric; it’s resources—₦100 billion seed capital channeled into a system that prioritizes equity over elitism. Together, they’ve forged a partnership where vision meets velocity: Tinubu’s bold repeal of barriers meets Sawyerr’s boots-on-the-ground execution, turning abstract policy into tangible triumphs. It’s a synergy that’s non-discriminatory by design—Christians, Muslims, every tribe and tongue united in access—fostering national cohesion through classrooms, not courtrooms.

As Sawyerr himself notes, this is “visionary leadership” in action, where the President’s political will ignites reforms that ripple across generations.

Why does this matter to us, Nigeria’s youth? Because NELFUND isn’t handing out handouts—it’s handing out horizons. In a country where 53% of us grapple with unemployment, these loans aren’t just funds; they’re fuel for innovation, entrepreneurship, and endurance.

Picture it: A first-generation polytechnic student in Maiduguri, once sidelined by fees, now graduates debt-free (repayments start two years post-NYSC, employer-deducted for ease) and launches a tech startup. Or a vocational trainee in Enugu, equipped with skills funding, revolutionizing local agriculture. This is quality education that endures—not fleeting certificates, but lifelong launchpads. Sawyerr’s focus on human-centered design ensures loans cover not just books, but bread—upkeep stipends of ₦20,000 monthly keeping hunger at bay so minds can soar. Under his watch, NELFUND has debunked doubts, refuted fraud claims, and delivered results that scream sustainability: Over ₦99.5 billion to 510,000 students by September, with 228 institutions on board.

As youth leaders, we see NELFUND for what it is: A covenant with our future. President Tinubu and MD Sawyerr aren’t just allies; they’re architects of an educated, empowered Nigeria—one where poverty’s grip loosens with every approved application, and innovation blooms from every funded desk. This isn’t charity; it’s an investment in the 70 million of us who will lead tomorrow.

We’ve crossed one million applications not because of luck, but leadership—a duo that’s turning “access denied” into “future unlocked.”

To President Tinubu: Thank you for daring to dream big and backing it with action.

To Akintunde Sawyerr: You’re the executor we needed, proving that one steady hand can steady a nation.

And to every Nigerian youth: Apply. Graduate. Conquer.

Because with NELFUND, your generation isn’t just surviving—it’s thriving, enduring, and eternal.

The Renewed Hope isn’t a slogan; it’s our story, now written in scholarships and success. Let’s keep turning the page.

Dayo Israel is the National Youth Leader of the All Progressives Congress (APC).

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