Asianet Pakistan Private Limited

Nigeria’s U20 male team, the Flying Eagles, defeated Saudi Arabia 3-2 in a thrilling Group F encounter in Talca on Friday morning to earn their first three points and brighten their chances of advancing to the Round of 16 at the ongoing FIFA U20 World Cup in Chile.

Midfielder Nasiru Salihu opened Nigeria’s account in the 10th minute, but the Asians hit back in the 21st through Amar Alyuhaybi.

Undeterred, the seven-time African champions regained the lead as Amos Ochoche struck seven minutes before the break, sending Nigeria into halftime 2-1 ahead.

Saudi Arabia fought back again, equalising six minutes into the second half through Talal Haji.

The Flying Eagles, however, had the final say. With four minutes of added time, captain Daniel Bameyi coolly converted from the penalty spot to seal a dramatic victory for Nigeria.

The win means the two-time U20 World Cup finalists will secure a place in the Round of 16 if they avoid defeat against Colombia in their final group game on Monday.

Yemi Kale, the group chief economist and managing director, Afreximbank has said that if Nigeria stay the course of its ongoing reforms, inflation could fall to around 14 percent by end of 2026.

Meanwhile, the National Bureau of Statistics report showed that Nigeria’s inflation eased to 20.12 percent in August from 21.88 per cent in July.

Kale who stated this while delivering a keynote address at the ‘Platform Nigeria’, said that however, between now and then the hardship on households will continue.

According to him, much of the previous decade, monetary policy oscillated between tightening to fight inflation and loosening to spur growth, often undermined by large quasi-fiscal interventions. However, CBN has now reasserted price stability which is its core mandate. The Monetary Policy Rate was initially raised to 27.5 percent-one of the steepest tightening on record-while open-market operations were streamlined to mop up excess liquidity.

‘And importantly, these actions were accompanied by clearer communication with regular policy reports, forward guidance, and transparent explanations of the inflation outlook.’

According to him, the results are now visible, as headline inflation, which averaged above 25-30 percent in 2023-24, has begun to ease toward the low 20s, and food inflation, while still elevated, is slowing. He streesed that the gains are not merely statistical, adding that every percentage point of disinflation protects the real value of salaries, pensions, and savings, and reduces uncertainty for investors who must plan projects years in advance

‘And I believe that if we stay the course, inflation could fall to around 14 percent by end of 2026, all things remaining constant, as the effects of the currency float and fuel price jump are absorbed,’ he said.

According to Kale, Nigeria missed a similar opportunity to soften the immediate shock of reform, relying on ad-hoc and often poorly implemented palliatives rather than a comprehensive, well-communicated and targeted social-protection plan.

‘But the lesson here is, again, clear Reform is like curing a fever-you must endure some discomfort as the medicine takes effect, but the alternative of letting the fever rage because the pill is bitter or injection too painful is far worse.

‘A second, equally important lesson here is for government itself, which I have highlighted many times already. Many peer countries have matched reforms with targeted and effective social cushions to protect their most vulnerable citizens.

‘I mentioned Egypt earlier. Ghana is another. Ghana combined its 2022 debt-restructuring and currency reforms with a comprehensive and well targeted, scaled-up cash-transfer and school-feeding program to absorb some of the shock. But in this regard, Nigeria missed a similar opportunity to soften the immediate shock of reform, relying on ad-hoc and often poorly implemented palliatives rather than a comprehensive, well-communicated and targeted social-protection plan,’ Kale said. He emphasised that the key is not just introducing necessary reforms or even the important political will to see them through, but reforms must also be carefully planned, and thoughtfully implemented, so that structural change is matched by social protection and long-term public confidence.

QNET, a global leader in lifestyle and wellness direct selling, celebrated its 27th anniversary with the transformative V-Malaysia 2025 convention in Penang, a five-day event that inspired over 10,000 independent distributors from more than 30 countries.

Partnered with Tourism Malaysia and held at the SPICE Arena, the convention became a vibrant hub of empowerment, sparking dreams and equipping entrepreneurs with the tools to shape their futures.The event embodied QNET’s mission of RYTHM – Raise Yourself To Help Mankind – offering a global stage for individuals from Sub-Saharan Africa, the Middle East, Central Asia, and Southeast Asia to connect, share stories of personal triumph, and embrace their potential.

It was a powerful reminder of QNET’s role in transforming lives through entrepreneurship, fostering resilience, and building a supportive community that uplifts dreamers worldwide.

A defining moment came through the keynote address by Sparsh Shah, a global youth icon and motivational speaker who has overcome Osteogenesis Imperfecta (Brittle Bone Disease). Blending his original music with a heartfelt narrative, Sparsh captivated the audience, urging them to redefine their limitations through mindset and determination. His message resonated deeply, inspiring entrepreneurs to pursue their ambitions with unwavering resolve.

Trevor Kuna, chief marketing officer at QNET said, ‘Having Sparsh Shah share his incredible story was a deeply moving experience for our global community. He embodies the very essence of RYTHM, rising above circumstances to inspire others. His presence reminded us all that entrepreneurship is not just about business success, but about the power of the human spirit to overcome any obstacle.’

V-Malaysia 2025 also introduced innovative wellness and lifestyle products designed to empower entrepreneurs and enhance lives. These launches, which include Harmoniq-Snooze, an adhesive bio-signaling patch designed to promote deeper, restorative sleep and Qwik-Vibe, a clean, fast-acting oral strip for instant energy and mental focus, provided practical tools for attendees to improve their health and financial independence while offering solutions to their customers.

‘For 27 years, QNET has given people the means to dream bigger. This convention is where those dreams take flight,’ Kuna said.

Looking ahead, QNET announced its next major convention, V-Africa 2026, set for early 2026 in Ghana. This move underscores QNET’s commitment to empowering entrepreneurs in Africa, where direct selling is creating pathways to economic independence.

‘Our conventions are more than just meetings; they are economic partnerships with host nations. The success of V-Malaysia demonstrates how business tourism creates a positive ripple effect. We are thrilled to build on this legacy and bring the same energy and opportunity to Ghana with V-Africa 2026, further solidifying our commitment to empowering entrepreneurs across the African continent,’ Kuna added.

Governor Babagana Zulum of Borno State, has revealed that plans are underway to deploy additional security personnel and establish a new Civilian Joint Task Force (JTF) post to enhance surveillance, and rapid response capabilities in and around Kirawa town in Gwoza local government area of the state.

Recall that BusinessDay had earlier reported that terrorists invaded the border town of Kirawa forthnight ago, killing two people and abducted many others.

Zulum announced the approval on Friday during an assessment visit to the community which was recently affected by violent extremists attack. The governor sympathised deeply with residents over the tragic incident and condemned the attack in the strongest terms.

Beyond the provision of new infrastructure, the governor announced concrete steps that can improve security in the area.

He approved the immediate construction of a new hospital, water facilities, and other essential infrastructure for the people of Kirawa. Zulum assured the people of his administration’s commitment to their safety and well-being. Zulum travelled to Kirawa by road in company of the commander of 26 Task Force Brigade, Brigadier General N. I. Abdullahi, State and National Assembly members and other senior government officials.

Meanwhile, Governor Zulum charged the Nigerian Armed Forces to scale up military operations in Borno State to avert the possibility of terrorists reversing the gains recorded so far. ‘I am appealing to the Nigerian Armed Forces to be more committed. Above all, we need military operations. For sometime, military operations were not conducted in Borno State. This has been instrumental to the renewed insurgency. We need to take note of one very important thing, continued military operations. There is need for us to sustain our military operations,’ Zulum said.

Nigeria’s ten largest listed insurance companies now command a combined market capitalisation of more than N1 trillion, underscoring their weight in the financial markets as the industry prepares for the National Insurance Commission’s (NAICOM) recapitalisation deadline of 30 July 2026.

As at 30 September, Custodian and Allied Plc led the pack with a valuation of N253 billion, making it the 36th most valuable stock on the Nigerian bourse.

NEM Insurance follows with N138 billion, AIICO Insurance with N134 billion, AXA Mansard with N130 billion, and Cornerstone Insurance with N106 billion.

Others in the top include Mutual Benefits Insurance, N73.8 billion, Wapic Insurance, N72.9 billion, Sovereign Trust Insurance, N42.7 billion, and Linkage Assurance, N37.9 billion.

Sunu Assurances rounds up the top ten with a market cap of N33.4 billion. Together, these firms account for more than N1 trillion in market value.

The recapitalisation context

The Nigerian Insurance Industry Reform (NIIRA) 2025, signed by Bola Ahmed Tinubu in July, introduced new thresholds for the industry: N10 billion for life insurers, N15 billion for non-life, and N35 billion for reinsurers.

For the leading listed firms, recapitalisation is less about survival and more about positioning. Their relatively strong balance sheets and access to capital markets mean they are better placed than smaller rivals.

Industry experts argue that the process could finally unlock the insurance sector’s long-trumpeted potential. ‘Nigeria’s insurance industry has a low penetration rate of 0.5%, ranking 70th globally and 5th in Africa, compared to South Africa’s 11%. With a growing GDP and young population, the industry’s potential for growth is significant. The new legislation aims to drive reform, unlocking this potential and propelling the industry’s success over the next decade,’ said NAICOM.

For investors, the top ten insurers already stand out for their liquidity and market visibility. Their relatively strong balance sheets and access to capital markets mean they are better placed than smaller rivals. Custodian and Allied, for instance, has consistently diversified into pensions and investment management, making it one of the most integrated financial services groups in Nigeria. NEM Insurance, with a focus on motor and general business, has seen steady growth in gross written premiums and profitability, reinforcing its capacity to attract capital.

Similarly, AIICO Insurance and AXA Mansard, both with strong life insurance portfolios, are positioned to benefit from higher capital requirements that reward long-term stability. Cornerstone and Mutual Benefits Assurance, with broad retail bases, could use recapitalisation as a springboard to scale up their microinsurance and digital distribution channels.

The challenge, however, is execution. While the larger firms are better placed, smaller ones may face difficulties sourcing fresh funds or meeting admissibility rules for assets. This could trigger a wave of mergers, acquisitions, or portfolio transfers by 2026.

As NAICOM put it, ‘The signing of the Insurance Reform Act into law is a significant triumph for Nigeria’s insurance industry. After years of operating with rigid and weak framework laws that failed to keep pace with the country’s evolving economic landscape, the industry is finally poised for transformation. The insurance industry has had to wait nearly two decades for this critical reform.’

For the top 10 listed players, the reform represents not just compliance but a chance to consolidate market share, attract global partnerships, and redefine the role of insurance in one of Africa’s largest economies.

Over 500 families across Ogun and Kwara States benefited from wellness screenings and nutritional support in an effort to promote healthy living among Nigerians.

This was conducted by Frootify, Nigeria’s preventive healthcare brand.

The gesture is part of activities to celebrate the firm’s five years of redefining wellness across the nation.

This was stated in a statement to the media signed by Adewale Badejoko, Co-Founder and CEO of Frootify.

The statement stated that several other activities such as customer appreciation week, special packages, loyalty rewards, and community events across Frootify service points would be held.

Also lined up for the anniversary is wellness and faith summit, which is a hybrid gathering of thought leaders, entrepreneurs, and health enthusiasts, reflecting on Frootify’s journey and charting the path for preventive healthcare in Africa.

The firm pointed out that the fifth anniversary celebration has the theme:’Forward Five’, which was a declaration of intent and that the journey towards healthcare innovation in Africa has only began.

On the anniversary celebration, Badejoko, said that the firm was born out of faith and sustained by resilience, stressing that Frootify has evolved from a modest service point in Ilorin to a multi-state omnichannel platform shaping the future of health for Nigerians and beyond. ‘When we began in 2020, we had little more than a vision: that preventive healthcare should be accessible, affordable, and culturally relevant for every Nigerian.

‘Today, five years later, that faith has turned into a movement that continues to grow,’ Badejoko said.

The celebration is also expected to feature digital storytelling series, that is stories from Frootifiers, partners, and frontline staff capturing five years of resilience, community, and fun.

The statement further stressed that the celebration will culminate in the unveiling of the forward five vision board, a bold roadmap designed to anchor the next phase of Frootify’s expansion.

‘Forward Five is our way of saying we’re not done.

‘The story of preventive healthcare in Africa will be written by Africans, for Africans. And Frootify is grateful to be one of the pens.

‘From delivering 150,000 preventive health products, to facilitating over 1,000 hours of telehealth consultations, and pioneering a preventive healthcare ERP (FrootiVend), Frootify’s achievements in just half a decade underscore its unique blend of innovation and community-first values’, Badejoko stressed.

Who is your role model? Nowadays, so much public attention is usually centred on athletes, celebrities or even politicians as role models. However, the fact is that one of the biggest role models a young person can have, outside of their own home, is the person who stands in front of their classroom ‘every day’ – their teacher!

Who is a teacher? A teacher is a person who helps others to acquire knowledge, competencies or values. Teachers provide education for all ages, from children to adults, and in a diverse field of studies. They can be referred to using a variety of titles, such as ‘educator’, ‘tutor’, ‘instructor’, ‘lecturer’, ‘professor’, ‘mentor’, ‘counsellor’, and so forth.

‘The art of teaching is the most important skill a person can learn .’

(‘Where There Is No Doctor’ – a healthcare handbook by David Werner, page w21.)

Taking on the task of shaping young minds is a big responsibility. Teachers work hard to inspire, guide, educate and mentor us every day. Teaching is an inspiring profession that leaves a lasting impact on every child’s life, no matter how big or small it may seem. Educating people in a way that they will remember and put to good use is one of the greatest gifts anyone can give to another person.

Why do we need teachers? ‘Better than a thousand days of diligent study is one day with a great teacher,’ says one Japanese proverb. Teachers lay the essential foundation for a person’s education. Even the best professors at the most prestigious universities are indebted to teachers who took time and effort to prime and cultivate their desire for education, knowledge and understanding.

It has to be admitted, though, that the teaching profession is a demanding one that presents many challenges. It demands a great deal of self-sacrifice. And poor remuneration has always discouraged people from moving into the teaching profession. Nevertheless, despite the difficulties and drawbacks, many teachers still persevere in their chosen profession.

So, how do you define a good teacher? Is it a person who can develop a child’s memory so that he can repeat facts and pass tests? Or is it a person who teaches one to question, to think, and to reason? Who helps a child to become a better citizen? . . . Unless a teacher is convinced of the value of education and is also interested in young people, it is impossible for him or her to become a good, successful, motivated and satisfied teacher. A good teacher instills confidence in those he teaches and makes learning a fascinating challenge. A good teacher recognises each student’s potential and knows how to make it blossom and flourish. To get the best out of each child, the teacher must discover what interests or motivates him or her and what makes the child tick, and a dedicated teacher must love children. William Ayers, a teacher, said, ‘Good teaching requires, most of all, a thoughtful, caring teacher committed to the lives of students. Good teaching is not a matter of specific techniques or styles, plans or actions. . . . .Teaching is primarily a matter of love.’

Additionally, the book ‘Where There Is No Doctor’, a healthcare handbook authored by David Werner, has this to say about teaching: ‘The art of teaching is the most important skill a person can learn. To teach is to help others grow and to grow with them. A good teacher is not someone who puts ideas into other people’s heads; he or she is someone who helps others build on their own ideas to make new discoveries for themselves.’

But another question arises: must learning always be fun? Some teachers find this problem among their students: ‘Many high school students have no interest in anything but having fun and doing what doesn’t call for any effort.’ Other teachers say, ‘The general attitude of the students is that learning is boring. The teacher is boring. They think that everything should be fun. They fail to realise that you get out of learning what you put into it.’

The fun fixation makes it harder for young people to make an effort and make sacrifices. Teacher William Ayers made a list of ten myths about teaching. One of them is: ‘Good teachers make learning fun.’ He continues: ‘Fun is distracting, amusing. Clowns are fun. Jokes can be fun. Learning can be engaging, engrossing, amazing, disorienting, involving, and often deeply pleasurable. If it’s fun, fine. But it doesn’t need to be fun.’ He adds, ‘Teaching requires a vast range of knowledge, ability, skill, judgement, and understanding-and it requires a thoughtful, caring person at its centre.’ (To Teach-The Journey of a Teacher).

However, while so much is expected of the teaching profession, so often the dedicated educators in our schools receive little public praise for their efforts. Have you, as a student or parent, ever thanked a teacher for the time, effort and interest shown? Or even sent a thank-you note or letter? It is good to note that teachers thrive on commendation too. The government, parents and students should highly esteem teachers and their services.

As Nigeria’s property market continues to evolve, Regent Real Estate has positioned itself as a company focused on trust, professionalism, and customer-centered service. At the heart of this vision is Ogaba Sanni, the firm’s CEO, whose leadership emphasizes integrity and long-term value over quick gains. In this interview with BusinessDay, Sanni shares his thoughts on the industry’s challenges, Regent’s growth strategy, and the importance of building lasting relationships with clients.

Nigeria’s luxury property market has been described as resilient despite economic headwinds. From your vantage point, what factors are sustaining demand at the top end of the market?

Two major factors stand out.

First, the weakening of the naira has shifted the priorities of wealthy Nigerians and investors. With inflation and devaluation eroding the value of cash, people are turning to hard assets, especially prime real estate in Ikoyi, Banana Island, Victoria Island, and now Lekki Phase 1. For high-net-worth individuals, these properties are not just homes but ‘wealth storage,’ as they tend to preserve and even grow in value in dollar terms.

Second, diaspora demand has surged. Naira depreciation has increased the buying power of Nigerians abroad, making prime properties appear relatively affordable compared to a few years ago. With remittances rising to about $20.93 billion in 2024, more diasporans in the US, UK, Canada and beyond are acquiring luxury homes both as investments and as a base in Nigeria.

Inflation and currency volatility have been major concerns for developers. How are these forces reshaping your project planning and delivery in the high-end segment?

Speed of execution has become critical. Every delay means higher costs for materials, labour and financing. To manage this, we now adopt accelerated project cycles, including prefabrication and modular construction, to shorten timelines without compromising quality.

At the same time, efficiency in design is key. We are focused on ‘functional luxury’, maximising natural light, airflow and usable space, while using durable materials. Digital design platforms help us streamline collaboration and avoid costly mid-project changes.

Finally, supply chain discipline has become a differentiator. We prioritise local sourcing to reduce dependence on volatile imports and, where imports are unavoidable, we secure pricing and timelines through strong supplier partnerships. This lean approach keeps costs under control and ensures faster delivery.

Some argue that Nigeria’s luxury developments still fall short of global benchmarks in finishing, efficiency, and amenities. Do you agree, and what can be done to close that gap?

It is true that not every project in Nigeria meets global standards, but the gap is narrowing quickly. Developments like IV Bourdillon, Cuddle, and The Belmonte show that our market can compete with Dubai, London or New York in both design and lifestyle. Projects under construction such as Quantum Towers on Ozumba Mbadiwe, and our own Park Towers in Victoria Island and 41 Turnbull, Ikoyi will raise the bar further.

The reality is that Nigeria’s luxury market is still young, so the volume of world-class projects is lower compared to mature economies. But as the market stabilises and investor confidence grows, we will see more globally competitive projects, particularly in premium zones like Eko Atlantic City.

When you speak of ‘fit for purpose’ developments, what does that mean in practical terms for the investor or homeowner?

It means delivering both functionality and long-term value.

For investors, a fit-for-purpose development is one that holds its value, attracts tenants easily, and ensures steady returns. For homeowners, it means spaces designed to support real lifestyles, adequate natural light and ventilation, thoughtful layouts, reliable utilities, leisure facilities, smart home features, and strong security. It’s luxury that balances elegance with practicality.

Material costs have risen sharply in recent years. What procurement or design strategies help you preserve quality without pushing prices beyond what buyers can accept?

We rely on direct and data-driven procurement. Wherever possible, we buy straight from source, cutting out middlemen. Our partnership with Cutstruct Technology also gives us real-time price aggregation, as well as relying on them for supply of key construction materials by leveraging their wide pool of building material manufacturers..

This approach helps us manage costs without compromising on finishes. On the design side, we specify materials that are premium but also cost-efficient and sustainable long-term. The combination of smart sourcing and disciplined design allows us to maintain quality while keeping pricing attractive.

Premier Court in Lekki Phase 1 was delivered during a period of steep cost inflation. How did you adapt while maintaining your high-end standards?

That project tested our principles of lean operations and forward planning. We purchased essential materials early, hedging against inflation, and relied on long-standing partnerships with suppliers and contractors to keep costs stable and timelines intact.

Despite the volatility, we delivered Premier Court to our standards, which proved that disciplined planning and the right partnerships can make world-class delivery possible even in tough conditions.

Sustainability is becoming a non-negotiable in global real estate. How do you see eco-friendly and energy-efficient design fitting into Nigeria’s luxury developments?

Sustainability is fast becoming an expectation in our market too. Buyers increasingly want homes that are luxurious and environmentally responsible. That means solar solutions, water recycling, energy-efficient systems, and sustainable materials.

Beyond environmental benefits, these choices reduce running costs and make homes more reliable in Nigeria’s infrastructure environment. Over time, they will also protect long-term value, especially as ESG standards start shaping investment flows into real estate.

Government policy can be both a driver and a barrier to real estate growth. What specific reforms or support measures would most benefit the premium property segment?

Three areas stand out.

First, Nigeria needs a more transparent credit system to expand access to financing, beyond collateral-based lending. With reliable credit reporting, banks could lend at sustainable rates like in mature markets.

Second, collateral registries should be expanded to recognise presale contracts and receivables. This would allow developers to raise financing transparently against off-plan sales, giving both banks and buyers more confidence.

Finally, the government should deepen infrastructure partnerships with developers. When roads, power, and security are guaranteed around projects, it elevates entire neighbourhoods and supports property values.

Looking ahead, where do you see the most viable opportunities for growth in Nigeria’s luxury property market over the next five years?

Mixed-use, live-work-play developments will drive the next phase. The future of luxury is integrated environments that combine residences with high-end retail, dining, and leisure, offering exclusivity and convenience in one ecosystem.

In congested urban centres like Lagos, these developments solve practical challenges while delivering prestige, making them especially attractive to both local and diaspora buyers.

For emerging developers aiming to enter this space, what is the single most important discipline or mindset they must develop to succeed?

Differentiation. This is not a market where copycat projects succeed. Buyers expect uniqueness in design, lifestyle and value. Developers must commit to creating projects that stand out and consistently deliver on their promises.

Success in this space requires originality, hard work, and discipline. The luxury buyer is uncompromising, and only those who can meet that expectation with resilience and creativity will thrive.

‘Knowledge is like a garden: if it is not cultivated, it cannot be harvested.’ This African proverb underscores the truth that education remains the foundation of any nation’s development. In most parts of the world, it is treated as a fundamental human right and the bedrock of social mobility. Yet in Nigeria, education has been allowed to wither, and the consequences are becoming ever more visible.

The statistics alone are sobering. UNICEF estimates that 20.2 million Nigerian children are out of school, the highest number globally. Federal allocations to education remain dismal, at just 6.39 percent of the 2024 budget, far below UNESCO’s recommended 15-20 percent. Meanwhile, the country’s youth population continues to swell, with over 44 percent of Nigerians under the age of 15. In this mismatch between demand and supply lies the clearest evidence of systemic failure.

‘Nigeria’s education crisis is both a governance failure and an opportunity cost to the economy. No country has ever been able to achieve sustainable growth without investing in its people. Education is not a social service to be grudgingly funded; it is a strategic investment.’

Access denied

Poverty is the single biggest barrier to education in Nigeria. Families struggling to feed themselves cannot afford school fees, uniforms, or textbooks. For children in rural areas, the barriers are compounded by poor infrastructure: dilapidated classrooms, absent libraries, and a lack of basic sanitation. The result is a widening educational divide between urban and rural populations and between rich and poor.

Cultural factors also exacerbate the problem. In northern Nigeria, child marriage and the almajiri system continue to deprive millions of children, especially girls, of formal schooling. When combined with economic inequality, these social norms deepen the exclusion crisis.

Quality without teachers

Even for those who manage to access school, the quality of learning is often dire. Nigeria’s student-teacher ratio in public primary schools is 53 to 1, according to UNESCO data, a figure that points to severe overcrowding. Teachers themselves are underpaid and demoralised, with little or no access to continuous professional development. Many enter the profession as a last resort, rather than a calling.

The result is predictable: Nigeria’s literacy and numeracy rates remain far below global averages. In 2022, the youth literacy rate was 72.8 percent, compared to the global average of over 90 percent. Without urgent reforms to teacher training, remuneration, and accountability, the quality gap will continue to widen.

A curriculum stuck in time

Nigeria’s curriculum is another silent crisis. Designed decades ago, it remains heavily theory-based, with little connection to the skills demanded by today’s economy. Graduates often leave school without digital skills, critical thinking abilities, or entrepreneurial capacity. The mismatch is glaring in a country where unemployment among degree holders remains stubbornly high.

Language barriers add to the problem, as policies on the language of instruction are inconsistently applied across regions. And with Nigeria’s population projected to hit 400 million by 2050, the system is simply not keeping up. Overcrowding is the norm, and each year, hundreds of thousands of qualified applicants are shut out of higher education because universities lack the capacity to admit them.

Learning under siege

The fragility of Nigeria’s education system is nowhere more visible than in the northeast, where Boko Haram’s campaign against ‘Western education’ has left hundreds of schools destroyed and thousands closed. Between 2014 and 2022, at least 1,680 students were abducted, according to SBM Intelligence. But the insecurity is no longer confined to Borno or Yobe: banditry in the northwest and farmer-herder clashes in the Middle Belt now routinely disrupt schooling. For displaced children, education is often the first casualty of conflict.

Corruption and mismanagement

Underlying many of these challenges is the cancer of corruption. From inflated contracts for school projects to the diversion of scholarship funds, resources meant for education often end up in private pockets. The consequences are not abstract: every stolen naira translates into classrooms without roofs, teachers without salaries, and children without textbooks. Until governance improves, funding increases alone will not fix Nigeria’s education crisis.

Pockets of innovation

Yet amid the gloom, there are glimmers of hope. Non-state actors, social enterprises, private schools, and NGOs are experimenting with models that work.

SKOT Impact Academy is pioneering blended learning approaches that integrate technology and entrepreneurship into secondary education, equipping students with the tools to compete globally. GiveBackGroup has created pathways for disadvantaged children by providing scholarships, mentorship, and community-led learning initiatives that directly address access barriers. Meanwhile, KEY Academy is reimagining early childhood education, focusing on creativity, leadership, and critical thinking, showing that quality can be built from the ground up.

These initiatives may be modest in scale compared to the enormity of Nigeria’s education crisis, but they offer important lessons: that innovation, accountability, and community-driven solutions can succeed where bureaucracy has failed. If supported through better policy frameworks and partnerships, they could become the seeds of wider transformation.

Where do we go from here?

Nigeria’s education crisis is both a governance failure and an opportunity cost to the economy. No country has ever been able to achieve sustainable growth without investing in its people. Education is not a social service to be grudgingly funded; it is a strategic investment.

The way forward must include a radical increase in funding, closer to UNESCO’s benchmark, alongside reforms that ensure money reaches classrooms. Teacher recruitment, training, and remuneration need an urgent overhaul. Curriculum reform must prioritise skills for the digital age. And most critically, the government must secure schools and communities from the violence that is robbing children of their right to learn.

But reform will not succeed without collaboration. Civil society, the private sector, and communities must be at the centre of designing and scaling solutions. The examples of SKOT Impact Academy, GiveBackGroup, and KEY Academy show what is possible. The task before Nigeria is to move from isolated bright spots to a system where quality education is the rule, not the exception.

Until then, the promise of Nigeria’s youthful population, its so-called ‘demographic dividend’, will remain a ticking time bomb.

PalmPay, Nigeria’s neobank, has unveiled the first set of winners in its Hustle Grant campaign. The campaign is a bold initiative designed to fuel the ambitions of small business owners and entrepreneurs across the country.

Launched on August 28 and running until September 29th, the Hustle Grant is more than just funding; PalmPay promises to stand beside everyday Nigerians as they transform their hustle into thriving enterprises that create real impact in their communities.

In this first round, four outstanding entrepreneurs emerged from thousands of entries, each receiving N500,000 to scale their dreams. The winners, a prolific community builder in Kebbi State, two budding fashion designers in Lagos and Jos, and a farmer, embody the spirit of resilience and innovation that drives Nigeria’s economy. With this support, they can now take their ideas from the ground up, creating impact that ripples beyond their personal success.

Entrepreneurs across the country continue to submit their entries on social media with the hashtag #PalmPayHustleGrant. From these, the top entries will be shortlisted, with four more winners set to be announced in the final round.