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The World Bank has projected that poverty levels in Nigeria will rise by 2027, despite the country’s vast natural resource endowment.

This forecast was contained in the latest Africa Pulse report released during the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C., United States.

According to the report, sub-Saharan Africa continues to record the highest rate of extreme poverty globally, with a significant portion of the poor population concentrated in a few countries. The Bretton Woods institution noted that in 2024, approximately 80 percent of the world’s estimated 695 million people living in extreme poverty were in sub-Saharan Africa. This contrasts with 8 percent in South Asia, 2 percent in East Asia and the Pacific, 5 percent in the Middle East and North Africa, and 3 percent in Latin America and the Caribbean.

“Within Sub-Saharan Africa, half of the 560 million extreme poor in 2024 resided in four countries,” the report stated.

The World Bank further noted that non-resource-rich countries are projected to reduce poverty at a faster pace than those with abundant natural resources. It identified Nigeria and the Democratic Republic of Congo—both classified as resource-rich but fragile states—as countries where poverty is expected to worsen, projecting a 3.6 percentage point increase between 2022 and 2027.

The North-East Development Commission (NEDC) has called for an urgent need for improvement in the region’s healthcare sector.

The Managing Director of the Commission, Mr Muhammed Alkali, made the call during an interaction session with the Ministry of Regional Development and members of its board in Abuja on Thursday.

Alkali said that the region, with a population of about 30 million, currently has only one outdated MRI machine.

According to him, the NEDC is taking steps to address this gap by providing new MRI machines and creating centers of medical excellence across the region.

“We want to look at the health situation in the region, and we have made a lot of mapping across all the health institutions in the Northeast.

“There are a lot of gaps in the healthcare system, so we will like to create excellent healthcare Centers across the Northeast, ” he said.

He said that the only available MRI machine was 15 years old, which is just as good as non-functional.

“We want to have a center in Gombe that will take care of heart disease patients, a center in Taraba that will take care of internal medicine, and so on.

“And we also remember that during the flood in Maiduguri, all the items and equipment in the states were destroyed, so they need to be replaced.

“We are now taking action to provide one MRI machine in each state. This is because they service not only Northeast but also other neighbouring states too,” he said.

Alkali also revealed a comprehensive master plan that would transform the region by 2030, adding that the plan would be presented at its upcoming retreat

“On the upcoming retreat, we will produce the full document in December so that members, especially directors of ministries, can go through it and probably add more input.

“We are inviting directors of ministries and stakeholders to review and provide further input.

“The plan, already in operation, is structured into four strategic phases: Stabilisation (2020–2022), Renewal (2022–2024), Expansion (2024–2026), and Sustainable Growth (2026–2030).

“It is anchored on 11 pillars, ranging from peaceful society and leadership in agriculture to health, education, infrastructure, and regional integration,” he said.

He said that with a projected implementation cost of around 80 billion dollars (over N31 trillion ), the plan aims to rebuild the region’s social and economic foundations after years of insurgency.

“Key initiatives include the introduction of e-mobility, rehabilitation of critical infrastructure such as bridges, and the establishment of regional transport systems like airlines and railways.

According to him, the NESDMP, validated by the federal government and supported by various ministries, is designed to be flexible, with ongoing reviews to align with current realities.

“The commission is committed to completing all outstanding projects in roads, health, and education, ensuring sustainable development and improved quality of life for the Northeast’s residents,” he said.

The Minister of Regional Development, Abubakar Momoh, urged NEDC to prioritise impactful projects and collaborate with the Ministry for effective project execution.

He emphasised the ministry’s commitment to supporting the NEDC in its mandate to rebuild and transform the insurgency-affected Northeast region of Nigeria.

Momoh highlighted the importance of focusing on projects that can be started and completed within a reasonable timeframe.

He urged the commission to avoid “overextending” on initiatives that may not be deliverable.

He said that the ministry’s role was to assist the NEDC, noting that the success of the commission directly reflects on the ministry and the Federal Government’s broader development agenda.

The minister called for greater investment in critical sectors such as transportation, particularly rail connectivity and healthcare,

He emphasised the need for every state in the region to have advanced medical equipment like MRI machines.

He also encouraged the commission to explore setting up an investment corporation to ensure sustainable funding and value retention for ongoing and future projects.

Momoh reminded the NEDC of the need for transparency, regular communication, and adherence to approval thresholds, assuring that the ministry would provide guidance and support where needed.

He urged the commission to publicise its achievements, as visibility is key to ensuring that the public recognises the progress being made in the Northeast’s recovery and development.

The Commission Board Chairman, retired Maj.-Gen. Paul Tarfa, expressed deep appreciation for the collaborative platform.

Tarfa described the platform as both a moment of reflection and a reaffirmation of shared commitment to Nigeria’s progress.

He emphasised the commission’s unwavering dedication to working in close synergy with key partners.

According to him, coordination and strategic alignment are important in delivering on the NEDC’s mandate.

He reiterated the commission’s alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on inclusive growth, sustainable development, and improved welfare for all Nigerians.

Tarfa expressed confidence that through mutual support and strategic coordination, remarkable outcomes for national development would be achieved.

Minister of Aviation and Aerospace Development, Festus Keyamo, is currently holding a high-level closed-door meeting with aviation unions, the Permanent Secretary, and heads of aviation agencies in an effort to end the ongoing strike that has disrupted operations across the sector.

The emergency meeting, convened at the Minister’s instance, is taking place in Abuja and includes key representatives of the National Union of Air Transport Employees (NUATE) and the Association of Nigerian Aviation Professionals (ANAP). Among those in attendance are NUATE’s General Secretary, Comrade Ochema Abba, Deputy President Comrade Oluchi, ANAP President General Comrade Alale Adebayo, and Chairman Comrade Ambore Samson.

The strike, which has entered its second day, has crippled airport operations, disrupted flight schedules, and left thousands of passengers stranded at major airports including Lagos, Abuja, Port Harcourt, and Kano.

At the opening of the meeting, Keyamo reaffirmed his commitment to resolving the crisis.

“We are taking this seriously. I’m here with all relevant agencies to listen, to act, and to find common ground. We will resolve this soon,” the Minister said.

Although the unions’ specific demands have not been officially disclosed, sources indicate that they include issues related to staff welfare, unpaid allowances, and the non-implementation of previous agreements with the government.

Industry stakeholders have urged for a prompt resolution to avoid further damage to domestic and international travel.

As of the time of filing this report, the meeting was still in progress.

The Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) approval to arrest and detain six promoters of Crypto Bridge Exchange (CBEX) over an alleged $1 billion investment fraud.

Justice Emeka Nwite issued the order on Thursday following submissions by EFCC counsel, Fadila Yusuf. The court’s decision was based on an ex parte motion filed on April 23, 2025.

The individuals named in the motion are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

The EFCC requested the court’s permission to issue arrest warrants and detain the suspects in its custody while investigations continue and charges are prepared.

“The defendants are at large, and a warrant of arrest is required to bring them in for proper investigation and prosecution,” Yusuf told the court.

An affidavit filed with the motion revealed that the EFCC received intelligence in April 2025 linking the suspects to a fraudulent cryptocurrency investment scheme. The scheme was allegedly carried out through ST Technologies International Limited in collaboration with CBEX.

The suspects are accused of luring investors by promoting CBEX and promising unusually high returns—reportedly up to 100 percent—on cryptocurrency investments.

Vice President Kashim Shettima on Thursday presided over the 149th meeting of the National Economic Council (NEC) at the Presidential Villa, Abuja.

The session, which is the second NEC meeting in 2025, brought together state governors and other key stakeholders to deliberate on strategies for national development.

State House Correspondent Abdurrahman Jibrila reports that the council is expected to explore comprehensive policy options aimed at addressing economic challenges and accelerating growth across the country.

The number of companies enjoying tax exemptions under the Federal Government’s Pioneer Status Incentive (PSI) scheme rose to 105 as of December 2024, even as the government considers ending the policy to shore up its revenue base.

Among the current beneficiaries are Dangote Fertilisers, Mikano International Limited, and 103 other local and foreign firms.

The Nigerian Investment Promotion Commission (NIPC), which oversees the programme, granted tax holidays to 22 new companies in the final quarter of 2024, increasing the total from 83 in the third quarter to 105 by year-end.

The scheme had earlier seen fluctuations in participation—rising to 104 companies in the first quarter, before falling to 88 in the second quarter and 83 in the third.

The increase in beneficiaries comes amid growing concerns about the scheme’s effectiveness and the government’s broader plan to discontinue it as part of efforts to improve non-oil revenue and address fiscal challenges.

The Independent National Electoral Commission (INEC) has indicated its readiness to allow eligible Nigerians without Permanent Voter Cards (PVCs) to vote in the 2027 general elections, provided that the necessary legal framework is put in place.

Rotimi Oyekanmi, Chief Press Secretary to the INEC Chairman, disclosed this in a statement to The PUNCH on Wednesday. He noted that while the commission is committed to enhancing voter access through technology, existing laws must be amended before any departure from the PVC-only system can be implemented.

The development follows earlier remarks made by INEC Chairman, Prof. Mahmood Yakubu, during a quarterly consultative meeting with Resident Electoral Commissioners held in Abuja in December 2024.

Prof. Yakubu emphasized the growing importance of technology in the electoral process, particularly the Bimodal Voter Accreditation System (BVAS), which has improved election management.

He explained that while PVCs will continue to be valid for those who already possess them, future elections could see the introduction of INEC-generated or downloadable slips as valid forms of accreditation. According to him, such a shift would reduce costs, simplify logistics, and help prevent the misuse of voter cards.

“The commission also believes that with the introduction of the Bimodal Voter Accreditation System, the use of the Permanent Voter Cards as the sole means of identification for voter accreditation on Election Day should be reviewed,” he stated.

The Federal Government has released N50 billion to the academic and non-academic staff unions of federal universities for the payment of earned allowances.

The Minister of Education, Dr. Maruf Alausa, made this known on Wednesday in a statement issued by the Director of Press at the Federal Ministry of Education, Folasade Boriowo.

The release of funds follows a promise made by President Bola Tinubu and is part of efforts to address long-standing demands by university unions.

According to the statement, the disbursement reaffirms the administration’s commitment to prioritising education and supporting the transition from a resource-based to a knowledge-driven economy through investments in education, infrastructure, and human capital.

“This intervention is not just a financial transaction—it is a reaffirmation of our President’s belief in the capacity of Nigerian youth and the invaluable role that academic and non-academic staff play in nurturing them,” the Minister said.