Former President of the Senate, Ahmad Lawan, has sounded the alarm over Nigeria’s soaring interest rates, which he described as a chokehold on entrepreneurship, agricultural growth, and sustainable development.
Speaking in Yobe North during a food distribution exercise targeting vulnerable communities, Lawan highlighted the broader structural challenges stifling Nigeria’s economic potential. While acknowledging the importance of providing immediate relief to struggling citizens, he advocated for transformative policies to address the root causes of economic hardship.
Lawan’s remarks signal a call for a shift from reliance on short-term interventions to sustainable economic strategies. His emphasis on affordable financing reflects the need for systemic changes to empower small businesses and farmers.
A statement by his is Media Adviser, Dr. Ezrel Tabiowo, quoted him to have said,“We can’t continue to manage hunger with handouts,” Lawan stated. “The focus must be on creating an environment where businesses and farmers thrive independently through affordable credit facilities and secure environments.”
According to Lawan, Nigeria’s commercial banks charge prohibitive interest rates of up to 34 percent, a figure he argues discourages investments and keeps the nation’s productive sectors in a state of stagnation.
“In countries where businesses flourish, loans are accessible at less than 1 percent interest rates. We must adopt similar practices to unlock Nigeria’s economic potential,” he said.
Lawan also linked food insecurity to rising insecurity, especially in northern Nigeria, where farmers are increasingly unable to access their farmlands due to banditry. He urged the federal government to intensify efforts to restore peace and create enabling conditions for agricultural revival.
“Food security is a matter of national security,” he declared. “We cannot expect sustainable growth when our farmers are unable to cultivate their lands due to fear of attacks.”

Acknowledging the reforms initiated by President Bola Tinubu’s administration, Lawan expressed optimism for economic improvements by 2025.
However, he stressed the need for state governments to complement federal efforts by implementing local strategies that promote food security, job creation, and access to credit.
“Governance cannot be centralized,” Lawan said. “States must take ownership of development plans tailored to their specific challenges and strengths.”
Lawan’s critique of Nigeria’s banking system underscores the need for urgent reforms to lower borrowing costs and expand access to financing for small and medium enterprises.
“The current interest rates imposed by commercial banks are callous and unsustainable,” he argued. “Unless we reform our financial systems to support entrepreneurs and farmers, our fight against poverty will remain a losing battle.”
While the food distribution organized by the Senator Ahmad Ibrahim Lawan (SAIL) Foundation offered short-term relief, Lawan insisted that Nigeria’s long-term economic trajectory depends on policies that promote self-reliance.
“Temporary relief measures have their place, but our focus must be on equipping Nigerians to build sustainable livelihoods,” he emphasized.
Lawan’s advocacy highlighted the intersection of economic policy, security, and agricultural development. His push for affordable loans, agricultural security, and federal-state collaboration underscores the urgency of addressing Nigeria’s economic vulnerabilities.
As Nigeria grapples with inflation and food insecurity, Lawan’s call for reforms sets the stage for debates on how to transition from crisis management to sustainable economic growth.

The Labour Party (LP) presidential candidate in the 2023 general elections Peter Obi has admonished youths to imbibe the spirit of hardwork, discipline and integrity as sure parth to success.

Obi who is also a former Governor of Anambra State spoke recently when he held an inspiring interactive session with youths in Onitsha, Anambra State, at the invitation of the Faithspiration Initiative.
His empowering message centered on the importance of hard work, discipline, and integrity.
Obi reminded the youths that success in life is not determined by one’s background but by an unwavering commitment to doing the right things and working tirelessly towards achieving goals.
He shared his personal journey, explaining that although he was born and raised in Onitsha, success did not come easy.
He underscored that like many of them, he too faced challenges but was able to overcome them through hard work and discipline.
“There is no shortcut to success,” Obi stated. “It is not where you come from, but how determined you are to do the right things and work hard that truly counts.”
To further support the youths, Obi provided N300,000 each to 25 individuals to help them further their productive ventures, and pledged to continue empowering two more youths every month, starting in January.

In closing, Obi reiterated his belief in the potential of Nigerian youth to drive change. “A New Nigeria remains POssible,” he affirmed.

***Canvasses for health, education as keys to poverty eradication

Former presidential candidate of the Labour Party in the 2023 General elections Peter Obi, has again donated N60 million to two educational institutions in Anambra State.
The effort is to strengthen health and education sectors he considers essential for lifting people out of poverty.
During a visit on Monday, Obi presented N50 million to Peter University in Achina and later donated N10 million to the College of Nursing Sciences in Adazi Nnukwu.
Just on Thursday last week Obi had donated N60m to support local institutions; N50m to the University on the Niger (UNINIGER) in Umunya, the university’s Iyi-Enu campus, to aid its expansion and infrastructure goals.
He also visited the School of Nursing at Iyienu Mission Hospital in Ogidi, where he contributed an additional N10 million to support healthcare training.
Writing on his X-handle on Monday, Obi expressed that the contributions align with his longstanding commitment to fostering a productive Nigeria. “Health and education are the cornerstones of development,” Obi remarked.
“A nation cannot progress without a healthy and educated workforce.” He highlighted the importance of prioritizing the future of Nigeria’s youth, given the country’s predominantly young population.

The donations are part of Obi’s broader vision of building a “New Nigeria” by investing in critical sectors that address poverty and improve citizens’ quality of life. He emphasized that such investments are crucial for creating a nation where citizens can contribute productively to economic growth and development.

Obi also extended gratitude to the proprietors, management, staff, and students of both institutions, commending their dedication to the fields of health and education.
His message of hope and commitment concluded with a reaffirmation of his belief that a “New and Productive Nigeria is Possible.”