Saturday, April 18, 2026
27 C
Lagos

Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

BOOK REVIEW: Personal Cost Control Strategies

  Author: Festus Abiodun Adebisi Publisher: Maximax Inc. Reviewer: Goke Ilesanmi Many people...

The Swift Ascendant Lands in Abuja: Martell’s Monumental Journey of Audacity Reaches the FCT

After kicking off in Lagos, Martell’s nationwide campaign, Martell...

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Insurance

NIA to Honour Past Governing Council Members

The Nigerian Insurers Association (NIA) is pleased to announce...

Nigeria Hosts 1st ECOWAS Brown Card Zonal Meeting 2026 in Lagos

‎The Commissioner for Insurance, National Insurance Commission, Mr. Olusegun...

Heirs Insurance Group, United Capital Partner on Self-Care, Wealth Event for Ambitious Women

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, and United...

NAICOM Pledges Commitment to Labour Standards, Staff Welfare

The National Insurance Commission (NAICOM) reaffirms its strong commitment...

Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

BOOK REVIEW: Personal Cost Control Strategies

  Author: Festus Abiodun Adebisi Publisher: Maximax Inc. Reviewer: Goke Ilesanmi Many people...

The Swift Ascendant Lands in Abuja: Martell’s Monumental Journey of Audacity Reaches the FCT

After kicking off in Lagos, Martell’s nationwide campaign, Martell...

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Insurance

NIA to Honour Past Governing Council Members

The Nigerian Insurers Association (NIA) is pleased to announce...

Nigeria Hosts 1st ECOWAS Brown Card Zonal Meeting 2026 in Lagos

‎The Commissioner for Insurance, National Insurance Commission, Mr. Olusegun...

Heirs Insurance Group, United Capital Partner on Self-Care, Wealth Event for Ambitious Women

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, and United...

NAICOM Pledges Commitment to Labour Standards, Staff Welfare

The National Insurance Commission (NAICOM) reaffirms its strong commitment...

World Bank: ‘End Cycle of Poverty Now’

The social status of one’s parents is as influential today as it was 50 years ago in determining a person’s future, according to early findings from an upcoming World Bank report, Fair Progress? Educational Mobility Around the World. Marking the 25thanniversary of the International Day to Eradicate Poverty, the institution sounded the alarm on a lack of progress since the 1960s in an area that is crucial for reducing poverty and inequality and promoting growth.

The preview paper, released yesterday, helps put together the first pieces of the economic mobility puzzle, focusing squarely on how one generation’s education can make or break the next generation’s success. This highlights the important role of public policy in providing a level playing field, so that every child, regardless of parental background, can reach his or her full potential. The full report, to be released in early 2018, will broaden the scope and examine the drivers of income mobility, including the role of markets and the broader forces of economic transformation.

“We are living in the middle of a human capital crisis and need to do everything we can to create a world where children everywhere have the opportunity to become whatever they want,” said World Bank Group President Jim Yong Kim. “The potential of hundreds of millions of people is being wasted, as their chances remain too closely tied to the previous generation. We have to invest in young children so they are hardwired to succeed, encourage and meet the aspirations of young people, and act at all levels – especially locally – to ensure that tomorrow’s generation can thrive regardless of where they are born.” 

Increases in education from generation to generation have stalled over the last half-century. About half of people born in an average developing economy in the 1980s have more education than their parents – showing no improvement when compared to those born in the 1960s. If the world does not alter the way it invests in its children, particularly those coming from less advantaged backgrounds, there is little reason to believe that this assessment will be different 10 years from now, making an end to extreme poverty by 2030 an even bigger challenge.

\Low levels of upward mobility are particularly pronounced in the developing world, especially in Sub-Saharan Africa. For example, only around 12 percent of today’s young adults (born in the 1980s) in some Sub-Saharan African economies have more education than their parents, compared to more than 80 percent of the same generation in parts of East Asia. All of the 15 economies where people’s education level is most closely tied to their parents’ education level are developing economies.

The study points to three broad pathways forward to increasing economic mobility from generation to generation.

Equal opportunities for children: Investments in early childhood development, education access and quality, maternal and child health, nutrition, infrastructure, water and sanitation, and other key services in the earliest years are critical to improving mobility and building human capital. For example, economies that have lower stunting (low height for age, a sign of chronic malnutrition) rates for children at age five and those that invest more of their public resources in education are likely to have higher mobility.

The recent World Development Report on Education makes a strong case for investments in learning and better-quality education as a pathway out of poverty, and the World Bank Group has recently announced the Human Capital Project— an accelerated effort to help countries invest more, and more effectively, in their people—as a critical step to boosting inclusive economic growth and ending extreme poverty.

Aspirations: When people perceive that they cannot move out of poverty, they are less likely to take the necessary steps to do so – their perceptions impede their aspirations, keeping them trapped. It is critical to incorporate behavioral insights into policies and programs, to better reach those who have been left behind in the development process.

Local action: The environment a person is born into matters, alongside the social status of one’s parents. Actions at the local level, from regions down to neighborhoods, are crucial to breaking the cycle of poverty. Poorer people are likely to live in poorer areas with worse schools, crumbling infrastructure, low access to and quality of services, and higher crime, which can impact a child’s ability to learn, grow, and thrive.

End Poverty Day

The world is making progress toward the goals of ending extreme poverty by 2030 and boosting shared prosperity everywhere. By focusing our resources on three areas – promoting sustainable and inclusive economic growth, investing in human capital, and fostering resilience to shocks – and by measuring progress – we can get the rest of the way.

End Poverty Day presents the global community with an opportunity each year to focus on our goals and to work with government and citizens, civil society, private sector and development organizations to build support for the action needed to achieve those goals.

Hot this week

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Stanbic IBTC Asset Management Bags Top Asset Management Award 2026 by Global Banking & Finance Review

In a noteworthy achievement in Nigeria's asset management landscape,...

Tinubu Assents to N68.32tn Appropriation Bill, 2025 Budget Extension

President Bola Ahmed Tinubu has assented to the 2026...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

PenOp Appoints Anthonia Okoro as Chief Executive Officer

Pension Fund Operators Association of Nigeria is pleased to...

Topics

SEC DG, House Committee on Capital Market Chair Visits NSE

L – R shows Chairman, Committee on Capital Market...

UNCTAD Appoints Moghalu to High Level Expert Group

The Governing Board of the United Nations Conference on...

MTN Nigeria Targets $500m from Public Offer

MTN Nigeria is hoping to reap over$500 million from...

Fidelity Bank Extends Relief Efforts to Eti-Osa Community with Food Bank Initiative

Henry Asiegbu, Divisional Head, Operations, Fidelity Bank Plc (Left);...

NPF Insurance Receives Operational Licence from NAICOM

The National Insurance Commission (NAICOM) today, November 29, 2024,...

‘Nigeria Should Not Panic over Energy Transition, Leads in Oil/Gas Local Content’

Engr. Simbi Wabote, Executive Secretary, Nigerian Content Development and...

Diesel Supply Disruptions: Quality of Service Challenges in Abuja

The Nigerian Communications Commission (NCC) is aware of the...
Exit mobile version