Mbah unveils Enugu’s human development model at UNN convocation lecture

Governor Peter Mbah of Enugu State has called for a fundamental overhaul of Nigeria’s education system, urging schools to focus on producing problem-solvers and innovators rather than graduates armed only with certificates.

Speaking on Thursday while delivering the 55th Convocation Lecture of the University of Nigeria, Nsukka (UNN), Mbah said education must become the driving force for restoring human dignity through experiential learning, innovation and inclusive prosperity.

Delivering the lecture titled ‘Restoring the Dignity of Man: Enugu’s Quantum Leap in Human Development and Inclusive Prosperity Through Experiential Learning,’ the governor described UNN’s motto as a timeless mission whose relevance has become even greater in the era of artificial intelligence, biotechnology, and the knowledge economy.

He argued that true development should be measured by citizens’ ability to transform knowledge into productivity and shared prosperity rather than by physical infrastructure alone.

‘True dignity exists when people possess not merely the freedom to aspire, but the capability to transform aspiration into achievement, potential into productivity, and possibility into shared prosperity,’ he said.

Mbah said Enugu’s education reforms were inspired by the Igbo apprenticeship system, which, according to him, embodies learning by doing, mentorship, trust, discipline and entrepreneurship.

‘Our purpose is not to romanticise the past, but to apply its deepest principle to the future. This is why we embraced experiential learning-not as a foreign educational idea, but as a modern expression of our knowledge tradition and a twenty-first-century development imperative,’ he said.

The governor explained that through experiential learning, the state seeks to democratise opportunities by ensuring that access to quality education, technology, healthcare, infrastructure, mentorship, capital and connectivity is no longer determined by birthplace, income, or social status.

He disclosed that the Centre for Experiential Learning and Innovation (CELI), Enugu, is driving reforms in curriculum development, teacher training, research, digital literacy, technical education and industry partnerships to bridge what he described as the ‘activation gap’ between knowledge and opportunity.

Mbah said his administration’s vision of growing Enugu’s economy from about $4.4 billion to $30 billion is anchored on human capital development rather than conventional infrastructure projects alone.

He noted that about one-thirds of the state’s annual budget has consistently been allocated to education, leading to the construction of 268 Smart Green Schools across the state’s 260 political wards, equipped with smart classrooms, laboratories, digital libraries, innovation studios, clinics, smart farms, solar power and internet connectivity.

According to him, over 23,000 teachers have undergone digital literacy training, while the state has approved the recruitment of 4,698 teachers to strengthen the Smart Green School initiative.

The governor added that students in the state’s Technical and Vocational Education and Training (TVET) colleges were already receiving practical industry training in ICT, mechatronics, aquaponics, precision welding, fashion and design through partnerships with industries, including the Enugu Haier Factory.

He also announced plans to establish three specialised universities dedicated to Artificial Intelligence and Technology, Education and Technology, and Agriculture, Agro-industrialisation and Technology, while new degree programmes in Automation, Artificial Intelligence and Mechatronics have already been introduced at ESUT and IMT.

To demonstrate the impact of experiential learning, Mbah narrated the story of Arinze Edeoga, a pupil of a Smart Green School in rural Owo community, who recently taught digital literacy to pupils in Enugu metropolis.

‘A village child became a teacher of urban peers. In Arinze, you see restored confidence, democratized opportunity and a child once defined by geography becoming a creator of knowledge rather than merely a consumer of it. You see the dignity of man,’ he said.

Mbah, however, said education reforms alone would not guarantee prosperity unless supported by investments in healthcare, electricity, roads, aviation, tourism and technology, stressing that Enugu’s development strategy integrates all sectors into a single human development architecture.

He cited projects such as the 300-bed Enugu International Hospital, the transport terminals, Enugu Air, the expansion of primary healthcare centre, the Enugu Command tourism infrastructure, and the proposed 660-megawatt power plant, as interconnected investments designed to unlock productivity, attract investment and improve citizens’ quality of life.

Mbah concluded by urging governments, universities, communities and the private sector to reject what he described as the ‘poverty of imagination,’ insisting that the future belongs to societies willing to invest boldly in human capability.

‘Let us measure leadership by the capabilities it develops in others, education by the lives learners become able to shape, and development by the dignity and opportunity it extends to every citizen,’ he said.

Meanwhile, in their various remarks, the Vice Chancellor of UNN, Prof. Simon Ortuanya and Chairman of the event and former Minister of Power, Prof. Chinedu Nebo commended Mbah’s milestones in human capital development.

They noted that Mbah had, in three years, made a resounding impact in development across all sectors.

The event was attended by notable dignitaries, including the Deputy Governor of Enugu State, Barr. Ifeanyi Ossai; Deputy Speaker, Enugu State House of Assembly, Hon. Ezenta Ezeani; Minister of Innovation, Science and Technology, Dr. Kingsley Udeh and Catholic Bishop of Nsukka Diocese, Most Rev Godfrey Igwebuike Onah and Senator Ikeje Asogwa.

’Delta positioning as emerging investment hub’

Delta State is positioning itself as Nigeria’s next major investment destination through massive infrastructure development, abundant natural resources, reliable power supply and strategic maritime assets, Secretary to the State Government (SSG), Dr. Kingsley Emu, has said.

He made this known yesterday at a news briefing ahead of Delta State Economic and Investment Summit 2026 scheduled for between August 3 and 5 in Asaba.

Emu said the Governor Sheriff Oborevwori administration had laid a solid foundation for industrialisation through sustained investments in roads, bridges, power and transport infrastructure.

He said the state’s strategic investments, business-friendly policies and expanding infrastructure were creating an enabling environment for local and foreign investors.

The SSG added that the summit would showcase Delta’s vast economic potential and attract investment across key sectors of the economy.

He said government had built and rehabilitated over 2,600 kilometres of roads and more than 20 bridges, opening up rural communities, reducing transportation costs and connecting economic corridors across the state.

According to him, one of Delta’s biggest competitive advantages is Delta Special Economic Zone, which offers investors access to some of the cheapest and most reliable power supply in Nigeria due to its proximity to the OB-3 gas pipeline.

‘The infrastructure has been provided. Government has created the enabling environment. Investors can come into Delta and enjoy competitive energy costs that many other states cannot offer,’ he said.

Emu says the state already operates an independent power infrastructure supplying about 8.5 megawatts of electricity to government facilities and public institutions, while ongoing electricity sector reforms will further expand access to affordable power for industries.

He highlighted Delta’s strategic maritime advantages, noting that the state boasts of four seaports, two airports and a 163-kilometre Atlantic coastline, making it one of Nigeria’s most strategically-located investment destinations.

The SSG said the Oborevwori administration intended to unlock the vast economic opportunities within the blue economy by promoting aquaculture, commercial fishing, fish feed production, cold-chain logistics, seafood processing and marine transportation.

He says Delta possesses one of West Africa’s largest concentrations of fish ponds around the Ekpan and Ugborikoko axis, where fish farming has transformed livelihoods and created sustainable employment for thousands of residents.

Senate okays Yuguda as AMCON board chairman

The Senate on Thursday confirmed the nomination of Lamido Yuguda for appointment as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).

The resolution of the red chamber followed its consideration and adoption of the recommendation of the Senate Committee on Banking, Insurance and Other Financial Institutions that screened Yuguda for the appointment.

The chairman of the Committee, Senator Mukhail Adetokunbo Abiru (Lagos East) presented the report during plenary.

President Bola Tinubu had forwarded Yuguda’s nomination to the Senate on July 9, 2026, for confirmation in accordance with the provisions of the AMCON Act.

With the Senate’s approval, Yuguda assumes the chairmanship of the board of one of Nigeria’s most critical financial institutions, established in 2010 to stabilise the banking sector following the 2008-2009 financial crisis by acquiring non-performing loans from deposit money banks and helping preserve confidence in the country’s financial system.

Over the years, AMCON has played a central role in preventing the collapse of distressed financial institutions, restructuring troubled assets and recovering outstanding debts from obligors, as part of efforts to safeguard financial stability and minimise the long-term cost of banking sector interventions.

A seasoned economist and financial regulator, Yuguda comes with more than four decades of experience in banking, financial markets and public sector management to the position.

He began his career at the Central Bank of Nigeria (CBN) in 1984 as a Senior Supervisor in the Foreign Operations Department before serving as an economist in the Africa Department of the International Monetary Fund (IMF) from 1997 to 2001. He later returned to the CBN, where he rose to become Director of the Reserve Management Department before retiring from the apex bank in 2016.

Yuguda then served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, overseeing reforms aimed at strengthening investor confidence, enhancing market transparency and deepening Nigeria’s capital market. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA) charterholder.

In March 2026, President Tinubu nominated him as Deputy Governor of the Central Bank of Nigeria, and the Senate confirmed the appointment in April, citing his extensive experience in financial regulation and economic management.

His confirmation as AMCON Board Chairman comes at a time when the corporation continues efforts to accelerate the recovery of outstanding debts, resolve legacy assets acquired during the banking sector intervention and strengthen Nigeria’s financial system.

The Senate’s approval completes the confirmation process, paving the way for Yuguda to provide strategic oversight of the corporation as it advances its mandate of promoting financial sector stability and supporting the resilience of Nigeria’s banking industry.

Meanwhile, the Senate has adjourned plenary sittings till September 15, 2026. The adjournment is to enable Senators to observe their annual vacation of about six weeks.

How Olanrewaju Alaka turned TWN Circle’s ‘Beyond Talent’ into a masterclass in brand positioning

On Friday, 3rd July 2026, Talented Women Network Africa, founded by Dr Amarachi Chinweoke Okuwobi, held the inaugural gathering of TWN Circle at the Federal Palace Hotel, Victoria Island, Lagos, under the theme Beyond Talent. Olanrewaju Alaka, Founder and CEO of Laerryblue Media, serves as Brand Director of TWN Circle, overseeing the brand and every dimension of the event built around it. Every decision carried a second purpose. The guest cap, the speaker lineup and the run of the show were not just logistics. They were brand and reputation strategy, applied to a room instead of a client.

The brief called for something distinct from a conventional conference: a room built for genuine conversation among high achieving women, not a stage for performance. As Brand Director, Olanrewaju’s mandate went beyond producing a single event. It was to take that vision and build it into a brand, covering guest list, speaker lineup, run of show, media plan and post event rollout, all of it consistent with what TWN Circle stands for.

Federal Palace Hotel was chosen for its prestige and its audio visual infrastructure, in keeping with the calibre of guests and speakers in the room.

Guest capacity was capped at 30 by design. Rather than open public registration, invitations were pushed through a curated WhatsApp broadcast list so the room stayed intentional and exclusive rather than filled by general sign up.

‘Capping the room at thirty was not about the venue. It was a decision about credibility. A room that lets everyone in has no signal value. A room people cannot easily get into is the one people talk about.’ Olanrewaju said.

The day was structured around three pillars: At Home, At Work, and In Your Community. Olanrewaju oversaw the process of matching each confirmed speaker and panelist to these themes and briefing them individually, with each brief covering the event’s purpose, the audience profile, and the length of their slot, confirmed weeks ahead of the event to allow proper promotion.

‘I did not select speakers for their titles. I selected women whose lived experience already answered the themes we built the day around, at home, at work, and in community. Credibility on stage has to be earned, not appointed.’ Olanrewaju explained.

The confirmed lineup: Dr Amarachi Chinweoke Okuwobi as convener and keynote speaker, with Biola Flow (Abiola Adediran), Dr Bolaji Mogaji, Princess Oghene and Toyin Bakare as speakers, and Mojisola Oladapo, CMO of Filmhouse Group, and Minister Anny on the panel.

Producing The Day

Olanrewaju led a small production team through the full run of the show, from red carpet arrivals through to send off. Peace Eze hosted, Olivia co-hosted and managed the red carpet, Obinna handled production, audio visual and photography, and Olanrewaju, as Brand Director, held oversight of the day end to end, without taking a stage role himself.

Media presence on the day included Arise Television, AIT and Guardian Woman, extending the reach of the room beyond the thirty guests inside it.

‘This was not my first time producing a room like this. I convene Apex Network on the same principle, quarterly gatherings for founders and executives built to stay curated rather than filled by open registration. Beyond Talent was that same discipline applied to a new room.’ Olanrewaju said.

The programme opened with red carpet arrivals and an on camera guest introduction moment, followed by the keynote, a full circle introduction round, speaker sessions interspersed with a music and networking break, the panel conversation, group photographs, and a closing send off.

The Outcome

Post event, the rollout Olanrewaju directed as Brand Director included distribution of the press release to media partners, release of edited photography and speaker highlight content across TWN Circle’s social channels, and a direct push to convert attendees into TWN Circle membership while the energy from the day was still fresh.

The room built for 30 outgrew its own cap before the day was done.

‘We built for thirty and the room outgrew the plan. That is not an accident. That is what happens when positioning is done properly before the first invite goes out.’ Olanrewaju added.

For Olanrewaju, Beyond Talent was proof of the same principle he applies to every client, reputation is infrastructure. Built with intention, it holds. Left to chance, it does not.

Olanrewaju Alaka is the Founder and CEO of Laerryblue Media, a PR, reputation management and authority positioning agency working with founders, executives and premium brands across Africa and the UK. He serves as Brand Director of Talented Women Network.

P1-M ‘smuggled’ cigarettes seized in Northern Mindanao in 48 hours

Authorities seized at least P1 million worth of alleged smuggled cigarettes during three separate operations in Northern Mindanao in a span of 48 hours.

On Wednesday morning, a routine checkpoint in Barangay Digson, Bonifacio, Misamis Occidental led to the seizure of at least P321,600 worth of alleged smuggled cigarettes from two men on board a Toyota Vios. Operating personnel noticed packs of cigarettes inside the car, prompting the driver to admit they were transporting contraband.

The suspects, identified as ‘Ray,’ 37, and ‘Ayan,’ 24, were traveling from Zamboanga City to Valencia City, Bukidnon, and were immediately arrested after failing to present necessary documents. Seized from them were 402 reams of undocumented cigarettes.

At 5:10 p.m. on Tuesday, police pulled over an orange Suzuki minivan – also bound for Valencia City, but originating from Zamboanga Sibugay – in Barangay Samburon, Linamon, Lanao del Norte and discovered a customized hidden compartment beneath the vehicle’s floorboards.

Authorities arrested the driver, 32-year-old ‘Arion,’ and 27-year-old ‘Limar,’ seizing 250 reams of Commando White cigarettes worth P200,000.

Earlier at 12:25 a.m., responding officers busted a smuggling attempt in a dark, vegetated area of Barangay Bauyan, Sultan Naga Dimaporo, Lanao del Norte. Acting on a tip from a concerned citizen, police arrived to find individuals unloading boxes from a pickup truck. The suspects abandoned their cargo and fled toward Picong, Lanao del Sur, leaving behind 600 reams of New Berlin Red and Fort White cigarettes worth P480,000.

In total, Police Regional Office 10 (PRO-10) confiscated P1,001,600 worth of smuggled cigarettes and apprehended four individuals in two days.

Police Maj. Joann Navarro, PRO-10 spokesperson, told the Inquirer the suspects are currently in the custody of the Bonifacio and Linamon municipal police stations and face charges for violating the Customs Modernization and Tariff Act (Republic Act 10863).

‘The confiscated contraband has been turned over to the Bureau of Customs and the Bureau of Internal Revenue in Ozamiz City for disposition,’ Navarro said.

Brig. Gen. Christopher Abrahano, PRO-10 regional director, commended the units involved for their sustained vigilance.

‘We will continue to strengthen intelligence-driven operations, intensify checkpoint activities, and hold accountable those engaged in smuggling to safeguard the region and uphold the law,’ Abrahano said.

Dangote Refinery hikes petrol price to N1,215/litre, resumes gantry loading in Naira

DANGOTE Petroleum Refinery has increased its ex-depot petrol price to N1,215 per litre from previous N1,075 per litre, representing 13.02 per cent increase, Nigerian Tribune has gathered.

This is coming following the resumption of gantry loading of Premium Motor Spirit (PMS) in naira after one week of suspension of truck loading.

Recall that the refinery suspended both coastal and gantry loading on Wednesday, July 15, after introducing a dollar-denominated pricing template for refined petroleum products.

This move generated controversy among Nigerians and disrupted supply across the downstream sector.

It also compelled marketers to source products from the private depots.

However, Nigerian Tribune’s survey shows that most filling stations in both Lagos and Ogun States are now sell petrol N1, 300 per litre from N1,220 per litre two days ago.

This is also coming as price of Brent crude hovered around $92 per barrel on Wednesday.

A source said that most marketers have now been notified of the resumption of gantry operations by Dangote Refinery, with loading expected to commence immediately under the revised naira pricing.

The news comes barely a day the refinery resumed coastal loading of PMS, introducing a new coastal price of $1,161.23 per metric tonne, up from the previous $1,044.62/MT, representing an increase of $116.61/MT.

The resumption of coastal loading has also been communicated to customers.

As at Monday, truck traffic across major private petroleum depots in Lagos surged as marketers scramble for petrol supplies amid growing expectations that wholesale prices could rise when Dangote commences operation.

However, with the resumption of coastal loading activities by the refinery, it is expected that the truck logjam will naturally disappear around Apapa depots Before the suspension, Dangote Petroleum Refinery had attributed its decision to migrate to Petrol’s dollar sale to the inability of the Nigerian National Petroleum Company Limited to honour its obligations under the arrangement.

According to the refinery, NNPCL only supplied 3 out 14 cargoes expected under the Naira for Crude arrangement.

This, the refinery said represented less than 25 percent of the expected volume of crude of the obligation.

According to an official of the refinery, crude volumes delivered under the arrangement were insufficient to support the refinery’s expectations.

However, NNPCL maintained it supplied all crude cargoes available under the naira-for-crude arrangement and had not withheld feedstock from the refinery.

Exam leaks, job crisis ignite biggest protest against Modi’s third term in India

Thousands of students and young people have taken to the streets across India in the biggest public challenge to Prime Minister Narendra Modi’s government since he secured a third term, with protests initially sparked by a medical entrance examination scandal but now reflecting broader anger over unemployment, governance and the country’s education system.

The protesters are demanding the resignation of Education Minister Dharmendra Pradhan after authorities cancelled the National Eligibility cum Entrance Test (NEET), India’s highly competitive medical entrance examination, following the discovery of a question paper leak. Nearly two million students sat for the exam in May before it was scrapped, throwing admission plans into uncertainty and fuelling nationwide outrage. Several student suicides have also been linked to the examination crisis, intensifying calls for accountability.

What began as anger over the NEET scandal has evolved into a wider youth movement known as the ‘Cockroach’ movement, with demonstrators arguing that repeated examination leaks expose deep-rooted corruption and inefficiency in India’s recruitment and education systems. Protesters say years of cancelled examinations, paper leaks and delayed recruitment have robbed millions of young Indians of fair opportunities for education and employment.

Another major driver of the protests is India’s worsening youth unemployment. While the country remains one of the world’s fastest-growing major economies, many graduates struggle to find quality jobs. Demonstrators say economic growth has failed to translate into employment opportunities, leaving educated young people frustrated about their future. The movement has therefore broadened its demands beyond education reforms to include greater transparency, job creation and improved governance.

The protests gained further momentum after activist Sonam Wangchuk, who had been on a hunger strike in support of students, was removed by police and taken to hospital ahead of a planned march to Parliament. Thousands of supporters subsequently converged on New Delhi despite authorities denying permission for the demonstration. Clashes broke out when police used batons and tear gas to disperse crowds attempting to breach barricades, leaving scores of protesters and security personnel injured.

Opposition parties have backed the demonstrations, accusing the Modi administration of failing India’s youth and demanding sweeping reforms to the examination system. The government has pledged action against those responsible for the paper leak and promised reforms, but protesters insist cosmetic measures will not address systemic failures that have undermined public confidence.

Political analysts say the movement has become a symbol of wider discontent among India’s young population, who account for more than half of the country’s 1.4 billion people. With Parliament in session and key state elections approaching, the protests are expected to keep pressure on the Modi government as demands grow for accountability, educational reforms and better employment prospects for millions of young Indians.

July security sweep: Why you must reset your bank app login credentials now

Resetting your bank app credentials immediately breaks the chain of access for hackers using stolen passwords, credential stuffing, or mobile trojans to target your funds.

Therefore, with the surge in AI-assisted scams and phishing links, updating your login info ensures that compromised old data becomes useless to cybercriminals.

As banks strengthen their digital security systems, fraudsters continue to develop new tactics to steal login credentials, intercept one-time passwords (OTPs), and trick unsuspecting customers into revealing sensitive information. That is why it is crucial to treat your banking credentials like your house keys and replace them periodically.

For Nigerians who rely on mobile banking for transfers, bill payments, and savings, carrying out a bank app cybersecurity audit Nigeria is no longer optional.

A simple password reset, combined with stronger authentication settings, could prevent unauthorized access to your account and protect your finances from increasingly sophisticated cyber threats.

Why resetting your login credentials matters

Many people create a banking password once and keep using it for years. While it may be convenient, it also increases the risk of compromise. If that password is exposed through a phishing scam, a leaked database, or malware on another device, attackers may attempt to reuse it across multiple services.

The Central Bank of Nigeria (CBN) directed financial institutions to strengthen cybersecurity governance, improve risk management, and protect customer information through comprehensive security controls. These expectations are outlined in the CBN’s Risk-Based Cybersecurity Framework and Guidelines for Other Financial Institutions, which emphasizes continuous monitoring, identity management, and customer protection.

Resetting your banking credentials periodically adds another layer of defence by reducing the window of opportunity for criminals who may have obtained older login details.

Phishing attacks are becoming more convincing

Fraudsters no longer rely on poorly written emails filled with spelling mistakes. Today, many phishing messages closely resemble genuine bank communications, complete with official logos, branding, and convincing language.

Customers may receive text messages claiming their account has been suspended, emails requesting immediate verification, or phone calls from individuals pretending to represent a bank’s security department.

The Nigeria Inter-Bank Settlement System (NIBSS) and financial institutions regularly advise customers never to disclose passwords, PINs, OTPs, or card details through unsolicited messages or phone calls. Genuine banks do not request these credentials through such channels.

Security audit starts with your password

A proper bank app cybersecurity audit Nigeria begins with reviewing your login credentials.

Choose a strong password that combines upper- and lower-case letters, numbers, and special characters. Avoid birthdays, phone numbers, names, or commonly used words that criminals can easily guess.

Most importantly, never reuse the same password for your banking app and other online services. If another platform experiences a data breach, criminals often test stolen passwords against banking and financial applications.

Password managers can also help generate and securely store complex passwords, reducing the temptation to reuse simple combinations.

Enable every security feature available

Strong passwords alone are no longer enough.

If your bank offers biometric authentication such as fingerprint or facial recognition, enable it. Likewise, activate two-factor authentication where available and ensure transaction alerts are sent to your registered phone number or email address.

Regularly update your banking application through the official Google Play Store or Apple App Store. Software updates frequently include security patches that address newly discovered vulnerabilities.

The Nigerian Communications Commission (NCC) also advises users to keep mobile operating systems and applications updated to reduce exposure to known cybersecurity threats.

Review the security of your device

Your bank app is only as secure as the device it runs on.

Install reputable mobile security software, avoid downloading applications from unofficial websites, and remove apps you no longer use. Public Wi-Fi networks should also be avoided when accessing sensitive financial services unless protected by a trusted virtual private network (VPN).

Lock your phone with biometric authentication or a strong passcode so that losing the device does not immediately expose your banking information.

Stay alert for unusual activity

Cybersecurity is an ongoing process, not a one-time task.

Review your transaction history regularly and investigate unfamiliar debits immediately. Enable instant debit and credit alerts so you receive notifications whenever money enters or leaves your account.

The earlier suspicious activity is reported, the greater the likelihood of limiting financial losses.

Completing a bank app cybersecurity audit Nigeria is one of the simplest ways to strengthen your digital security. Resetting your login credentials, enabling multi-factor authentication, updating your banking app, and remaining vigilant against phishing attacks can significantly reduce your exposure to cybercrime.

As digital banking continues to grow across Nigeria, protecting your account requires more than trusting your bank’s security systems. Safe online banking is a shared responsibility, and a few minutes spent reviewing your security settings today could prevent significant financial losses tomorrow.

Quezon town mayor slams slow P67-B classroom construction program

Infanta town Mayor Arnel Ruanto has criticized the slow implementation of the Department of Education’s classroom construction program, saying students and teachers in his municipality continue to endure unsafe and inadequate learning conditions despite the record education budget allocated this year.

‘Like millions of parents and students, I cannot help but wonder: Why is the implementation so slow? In my hometown of Infanta (in Quezon province), not a single classroom has yet been built by the Department of Education,’ Ruanto said in a Facebook post in Filipino on Wednesday. Infanta currently hosts 22 public grade schools and high schools, according to the DepEd website.

The mayor said it pains him to visit public schools that still rely on makeshift classrooms. ‘Many of these structures are locally called ‘banlat’ or ‘pig pens’ because of their poor condition. During extremely hot days, students have to sit inside classrooms holding umbrellas to shield themselves from the scorching heat,’ Ruanto said.

‘When it rains, they continue their lessons while getting soaked, again using umbrellas inside the classroom,’ he added.

Ruanto also said some classrooms designed for a single class have been divided into two using only plywood partitions.

‘We cannot keep asking our students and teachers to wait indefinitely for a solution,’ he said.

According to the mayor, Infanta has a backlog of more than 100 classrooms, excluding school buildings that have already been condemned or are awaiting demolition for being unsafe.

‘We need to know why this situation has persisted. Amid the extreme heat brought by the recent weather conditions, our students and teachers should no longer be forced to hold classes in makeshift shelters-or worse, under the shade of trees because there are no safe classrooms available,’ he said.

This coastal municipality in northern Quezon has recorded dangerous heat index levels in recent weeks.

Ruanto pointed out that the government allocated P1.015 trillion for education this year-the largest in Philippine history-including P67 billion earmarked for classroom construction.

‘Puzzling and disappointing,’ the mayor said in describing the continued delays.

‘I know many capable and committed people in DepEd-from the Secretary and Undersecretaries to the Assistant Secretaries, Directors, and countless personnel-who have worked tirelessly to improve our education system,’ he said.

Ruanto said the municipality’s Special Education Fund (SEF) amounts to only P4 million, enough to construct just one classroom based on DepEd’s standard cost estimates.

Despite limited resources, he said the local government has pursued alternative solutions through a ‘construction-by-administration’ approach, allowing the municipality to build classrooms without hiring private contractors and significantly reducing construction costs.

With assistance from private donors who contributed funds, construction materials, and skilled labor, the municipal government built a classroom at Dinahican Elementary School for only P1.5 million.

The local government also improved five classrooms at Binulasan Integrated School and Tongohin Elementary School at a total cost of about P1.5 million.

In addition, the town launched the ‘Adopt-a-Classroom Challenge,’ encouraging municipal offices, national government agencies based in Infanta, and members of the people’s council to adopt and rehabilitate one classroom each.

‘While these are modest initiatives, they embody the spirit of bayanihan for education and help ease the daily burden faced by our teachers and students,’ Ruanto said.

The mayor acknowledged that local efforts alone cannot address the town’s classroom shortage.

‘DepEd has funding under the General Appropriations Act. That is why I, together with the people of Infanta, support Senator Bam Aquino’s legislative inquiry into the slow implementation of classroom construction,’ he said.

Last week, Sen. Bam Aquino announced that the Senate Committee on Basic Education would investigate the implementation of the P67-billion Classroom Acceleration Program funded under the 2026 national budget to construct 25,000 classrooms nationwide.

It’s always someone else who profits

The International Monetary Fund cut its global growth forecast for 2026 to 3 percent this month, the second downgrade this year. Iran war escalation has kept energy prices elevated. Trade tensions simmered under volatile Middle East diplomacy attempts. In the same report, the Fund pointed to one bright spot: Artificial Intelligence stocks, whose valuations helped a handful of countries post better numbers than expected.

Rockets booming over the Gulf and technology share prices booming in the stock markets sat in the same paragraph of the same document, and nobody at the IMF thought this strange enough to comment on.

It is not a new arrangement. In 1348, the Black Death killed roughly a third of Europe’s population within four years. Villages emptied and grain rotted in fields with no one left to harvest it. And over decades, the merchant class members who survived became significantly wealthier than the merchant class that existed before the plague. Labor scarcity drove wages up for the peasants who remained alive.

Land ownership consolidated into fewer hands. Guilds, the trade associations that controlled who could work and at what price, became dominant. The same merchant families who buried their children commissioned the Danse Macabre frescoes that decorated churches across the continent within a generation or two. The frescoes personified Death as a skeleton leading chained bishops and kings toward the grave. They were painted with money made possible by the very death the paintings depicted.

Catastrophe made men rich in 1348.

The year 2026 has a modern version. The dying is not villages emptied by plague, but soldiers and civilians killed in the Gulf or in Ukraine. The wealth is not more land for merchant families but more profits for Nvidia shareholders, chip company executives, the people holding stock in the handful of firms that make the hardware everyone else needs and cannot make themselves. And we should not forget the oil traders now buying a new Rolls-Royce or Bugatti.

The IMF noted that Taiwan, South Korea, Thailand and Malaysia posted better economic numbers than expected because they sit inside the AI supply chain. China grew faster than forecasted partly on high-tech manufacturing. The rest of the world, the Fund said plainly, absorbed the damage and got nothing back.

The Philippines sits in that second group. The country has no meaningful AI hardware manufacturing base, no value-added chip fabrication capacity worth mentioning, and a stock exchange with almost no exposure to the companies driving the boom.

When global energy prices rise on Gulf tension, Filipino households pay the higher prices on everything. When AI valuations rise on the same set of global conditions, no Filipino portfolio captures the gain, because the PSEi was never built with export-oriented or technology listings in mind. The country absorbs the downside of a global arrangement it has no upside position in or any potential for improvement.

That is the predictable result of decades spent building an economy around domestic consumption and remittance inflows rather than the kind of production base that would put a Filipino company inside a semiconductor supply chain instead of downstream of one.

BSP policy can manage the currency and smooth the inflation numbers, but it cannot manufacture equity exposure. OFW remittances remain the country’s actual hedge against global disruption, arriving in dollars regardless of Nvidia’s stock price being up 75 percent in 18 months.

Remittances do their job. The failure sits elsewhere, in an industrial base the Philippines never built, the one that would let it participate in booms the way our Asean neighbors now do.

The frescoes in Europe’s churches were not subtle. They showed exactly who was profiting and who was dying. The IMF’s July report does the same thing in a table instead of a painting. Whoever is prepared and positioned or can adapt then captures the boom, and everyone else pays for the disruption that made the boom possible.

What assets made money for countries and individuals this year? Oil and petroleum products obviously. AI and tech names fueled big gains in Taiwan and South Korea. Precious metals turned in strong double-digit performance.

In 2026, the global ledger balances death and disruption against the staggering windfalls of technology and energy. For the Philippines, the lesson is merciless: a nation cannot forever rent out its resilience through remittances while producing nothing of its own. We pay the full price of chaos, yet collect none of the dividend. Until we build, we will only subsidize everyone else’s prosperity.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.