Economy
Annkio Briggs debunks north’s claim that it was economic heart of Nigeria; says North bankrupts South economically, politically [Part 4]
In part one of this series, an economic and financial expert, as well as historian, responded to the claim by a group, Northern Consensus Movement, that north is the economic heart of Nigeria and not parasites.
In part two, ElombahNews obtained documents which categorically proved that Northern Nigeria was actually a parasite which depended on Southern Nigeria for existence and survival.
In part three, a London-based media personnel and social media influencer, Maazi Tochukwu Ezeoke reacted harshly to Awwal Aliyu’s claim that north is the economic heart of Nigeria.
In a counter video, he provided documented evidences showing that “the North lied that they built refineries in the South with northern money”.
In a video gone viral, the President of the group, Awwal Abdullahi Aliyu, had said that the Northern Nigeria could not be considered a parasite, rather, that it was the economic heart of Nigeria.
Aliyu claimed that the North, through cash crop products like groundnut and cotton, generated the money used to build the refineries in the Southern parts of the country.
In the video, Aliyu said:
In this part, Part Four, ElombahNews went to the archives to dig up a well-researched work by frontline human and environmental activist, Ms Annkio Briggs on “How North Bankrupts South Economically, Politically“.
Read the full report by ElombahNews dated July 16, 2017, below:
How The North Bankrupts South Economically, Politically —Annkio Briggs
Frontline human and environmental activist, Ms Annkio Briggs has declared that the north has been using political advantage against the south to disburse the resources of the Niger Delta.
Ms Briggs made the declaration during a paper presentation yesterday in Abuja.
She said that using such advantage, the 19 states of the north receive 57% of allocations while they bring 0% to the table.
Speaking about the perceived political imbalance cum inequality, she said:
“It is no longer acceptable that 2 regions North and South Protectorates amalgamated in 1914 on equality and justice, decades after and using the military, the North ends up with 19 states, 419 LGAs, 53 senatorial seats and 191 House of Reps seats.
“The South ends up with 17 States, 357 LGAs, 51 Senatorial Seats, 169 House of Reps seats.
“This political injustice, and inequality guarantees our extinction and perpetual oppression and we will no longer accept it.”
She elaborated how the north has been bankrupting the south economically predating the amalgamation of 1914, saying:
“1900 till date the south have been providing for the north economically. [The proofs of this statement are contained in the records of the Annual report of the colonies]
“These records predate the amalgamation of 1914 that gave birth to pre independence Nigeria till independence.
“These records show that between 1900 and 1913 the north was in deficit, while the south was in surplus.
“The north was receiving grant-in-aid from the Imperial Treasury & Southern Nigeria to Northern Nigeria.”
The renowned activist further presented the breakdown of the state’s allocation the 19 states of the north, how they receive 57% while bringing 0%:
– The 419 LGAS of the north receives 55%
– The 17 southern states receives 43% of what they bring
– The 355 LGAS of the south receives 45%
Citing the National Bureau of Statistics [NBS], she broke down the contributions from oil and gas from the south of Nigeria to federation account as follows:
South East – 2.7%
South West – 3.95%
South South – 91.54%
Elegiac, she cited a case of almost 13 years ago whereby Niger Deltans partnered with BFIG, bid and won the sale of the Akwa Ibom based Aluminum Smelter Company of Nigeria (ASCON).
However, she brooded, “once it became clear that Niger Deltans were involved in the business, the sale was frustrated and after several years in court, and despite 3 Supreme Court judgements and orders the Nigeria state have refused to hand over the company.”
She stressed that the people of Niger Delta have lost faith completely in Nigeria as even Supreme Court judgement/ orders can’t give them equity and justice.
“The economic oppression and deprivation is clearly demonstrated to the extent that nearly 90% of the privately owned oil blocks of the Niger Delta are owned by people from the north,” she said.
Briggs, therefore, called for restructuring, federalism, referendum, self-determination as the panacea to the woes bedeviling the country.
As solutions, she proposed “that we give ourselves a timeline of no more than 12 months to arrive at –
a. the 6 geopolitical zones to have equal representations the National Assembly.
b. the 6 geopolitical zones own, control and manage their resources, paying tax to FG.
c. the ports in the Niger Delta managed by the state, and the federal government manage the immigration and customs.
ECONOMIC RESTRUCTURING
1900 till date the south have been providing for the north economically the proofs of this statement are contained in the records of the Annual report of the colonies.
These records predate the amalgamation of 1914 that gave birth to pre independence Nigeria till independence.
These records shows that between 1900 to 1913 the north was in deficit, while the south was in surplus.
That the north was receiving Grant-In-Aid from the Imperial Treasury & Southern Nigeria to Northern Nigeria.
Political advantage have been used against the south by the north as stated above to share the resources the resources of the Niger Delta, by states allocation the 19 states of the north receive 57% of what they bring 0%.
The 419 LGAS of the north receives 55%.
The 17 southern states receives 43% of what they bring.
The 355 LGAS of the south receives 45%.
Breakdown of the contributions from oil and gas from the South of Nigeria to federation account:
South East – 2.7%
South West – 3.95%
South South – 91.54%
(From National Bureau of Statistics)
Almost 13 years ago Niger Deltans partnered with (BFIG) bid and won the sale of the Akwa Ibom-based Aluminum Smelter Company of Nigeria (ASCON).
Once it became clear that Niger Deltans were involved in the business the sale was frustrated and after several years in court, and despite 3 Supreme Court judgements and orders, the Nigeria state have refused to hand over the company.
The company has capacity to create over 3500 direct and indirect jobs.
Consequently we continue to lose faith completely Nigeria as even Supreme Court judgement/ orders can’t give us equity and justice.
The economic oppression and deprivation is clearly demonstrated to the extent that nearly 90% of the privately owned oil blocks of the Niger Delta are owned by people from the north.
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Tier-one Lender, Fidelity Bank Plc., has announced the resumption of international transactions on its Naira Debit Cards.
This recommencement gives customers the freedom to make seamless payments abroad, online, and at ATMs outside the country.
The Divisional Head of eBanking, Fidelity Bank, Ifeoma Onibuje, shed light on the development.
Onibuje said: “We are delighted to inform the public that Fidelity Naira Cards are now enabled for global use.
“This means that our travelling customers can now utilize their Naira Debit cards outside the country to shop, spend and withdraw internationally without hassles.”
“Consequently, our customers can now spend up to $1,000 quarterly for international POS and online transactions; and withdraw up to $500 quarterly on international ATMs.”
The announcement offers Fidelity Bank customers another way to complete international transactions, in addition to the Bank’s existing foreign currency debit and credit cards.
The bank stated that it further reinforces its commitment to delivering solutions that fit seamlessly into customers’ lifestyles.
With Fidelity Bank’s VISA and Mastercard Naira Debit Cards, Nigerians can now enjoy effortless global access.
Beyond payments, Fidelity VISA cardholders, one of the variants of the bank’s card offerings, also enjoy premium travel and lifestyle benefits.
The benefits range from airport lounge and spa access via the Visa Airport Companion App, to fast-track immigration lanes and 20% discounts on SIXT car rentals worldwide.
This move, the bank said, also reflects its commitment to provide secure, convenient, and reliable banking services that empower customers in Nigeria and beyond.
The bank noted that it has deliberately made the process of getting a Fidelity Naira card seamless.
It stressed that customers can easily apply for their Fidelity VISA or Mastercard Naira Debit card via the Fidelity Mobile App or simply visit the nearest Fidelity bank branch to request for one and they can start transacting globally with ease.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
A Nigerian TikTok sensation known as “Geh Geh” has stunned the internet after pulling in over $30,000 from a single live session that attracted more than 177,000 viewers.
The young entertainer, who calls his platform the “University of Wisdom and Understanding,” has quickly built a cult following with his raw and unfiltered lectures about women, money, and survival in Nigeria.
During the live broadcast on Thursday, August 21, viewers showered him with virtual gifts that he later calculated to be worth over $30,000.
The milestone instantly pushed him into the spotlight as one of Nigeria’s fastest-rising online personalities.
Reacting in disbelief after the stream, Geh Geh said:
“More than 177,000 people watch my lectures today. Jesus! University of wisdom and understanding, the only university where once you graduate, woman go fear to ask you for money.”
Despite not having a formal education, Geh Geh proudly calls himself “the first illiterate to find a university in the history of Nigeria.” In a video after the viral live, he reminded fans of his humble background:
“I no be graduate too, but by the grace of God, I don find school. I be orphan, but now Nigerians don show me love.”
The TikTok star admitted he was overwhelmed by the generosity of his supporters.
“See gift I made over… more gift when they give me today is worth about $30,000. I no go take this love for granted, because I no really do anything for am.”
His rise has been hailed as proof of how social media is transforming lives in Nigeria. With no degree, no rich background, and no industry connection, Geh Geh has managed to build a fanbase that now calls themselves “students” of his unusual university.
Still, his controversial views on women and relationships continue to spark heated debates. While some dismiss his advice as reckless, others insist his boldness speaks directly to Nigeria’s frustrated youth.
Reflecting on his sudden fame, Geh Geh compared himself to great thinkers:
“If Nigeria be country wey value great people, by now them suppose dey compare people like me with Aristotle, Wole Soyinka, Einstein… but I thank God say people dey see my head and my own difference.”
From an orphan with no prospects to a viral star earning in dollars, Geh Geh’s story has become one of digital empowerment.
His journey shows how platforms like TikTok are creating new forms of fame, money, and influence for Nigerians especially those once written off by society.
The United Kingdom has once again cemented its position as Nigeria’s leading source of foreign capital, accounting for more than N5.5 trillion in inflows during the first quarter of 2025, according to the latest data from the National Bureau of Statistics (NBS).
Figures from the Capital Importation Report show that capital from the UK rose to $3.68bn (N5.52tn) in Q1 2025, representing 65.26% of Nigeria’s total $5.64bn inflows for the quarter.
This marked a 29.2% rise from the $2.85bn recorded in Q4 2024 and more than double the $1.81bn inflows seen in Q1 2024.
This underscores Britain’s dominance in Nigeria’s external financing profile and highlights the strong bilateral financial ties between both nations.
Breakdown of Q1 2025 Capital Inflows by Country
United Kingdom: $3.68bn (65.26%)
South Africa: $501.29m (8.88%)
Mauritius: $394.51m (6.99%)
United States: $368.92m (6.54%)
United Arab Emirates: $301.72m (5.35%)
Together, these top five countries accounted for over 92% of Nigeria’s capital inflows, reflecting both the concentration of Nigeria’s foreign investments and the risks of over-dependence on limited markets.
Other contributors included:
Cayman Islands: $114.76m (up sharply from $0.64m in Q4 2024)
Belgium: $70.54m
France: $47.33m
Netherlands: $42.68m (down significantly from $425.61m in Q4 2024)
Singapore: $36.79m
Overall, capital importation into Nigeria stood at $5.64bn in Q1 2025, up 10.9% from Q4 2024’s $5.09bn, and a remarkable 67.1% higher than the $3.38bn recorded in Q1 2024.
The NBS noted:
“Capital Importation during the reference period originated largely from the United Kingdom with $3,681.96m, showing 65.26 per cent of the total capital imported.”
A separate survey by Strategy Management Partners (UK) reveals that British companies are increasingly targeting Africa as a strategic growth frontier.
50% of UK firms with annual turnover above £20m are already operational in Africa and planning expansions.
Another 28% of executives said they are interested but remain cautious about entry strategies.
Africa’s appeal lies in its resource wealth and demographic potential:
30% of the world’s mineral reserves
8% of natural gas reserves
12% of oil reserves
65% of the world’s arable land
Projected to host 25% of the global workforce by 2035
Seven key sectors remain magnets for foreign capital inflows into Nigeria and Africa at large:
1. Technology
2. Oil & Gas
3. Power and Renewable Energy
4. Agriculture
5. Manufacturing
6. Infrastructure
7. Strategic Minerals
Analysts warn that while Nigeria’s reliance on UK-driven inflows reflects strong global confidence, the concentration of sources exposes the economy to external shocks if investor sentiment shifts in these countries.
Diversification of investment partnerships particularly within Asi
a, the Americas, and intra-African trade will be crucial to ensuring long-term resilience in capital inflows.
The United States government has said that Nigeria’s new N70,000 minimum wage has lost real value due to the sharp fall of the naira, leaving millions of workers trapped in poverty.
According to the 2024 Country Reports on Human Rights Practices, released by the U.S. Department of State’s Bureau of Democracy, Human Rights, and Labour, the wage translates to just $47.90 per month.
The report noted that currency devaluation and weak enforcement have undermined the wage increase.
The report also revealed that many states are yet to implement the new wage law. Several governors cited financial challenges as the main excuse.
Even where the law exists, compliance remains poor because of limited labor inspectors and weak oversight from authorities.
Wage Devaluation and Exclusion
The report highlighted that firms with fewer than 25 workers are excluded from the minimum wage law, leaving millions of employees without protection.
This also explained that about 70 to 80 percent of Nigeria’s workforce operates in the informal sector, where wage and labor rights are almost never enforced.
This means a majority of Nigerians continue to earn far below the national benchmark, despite the government’s approval of N70,000 as the new minimum wage.
The U.S. report stressed that the naira’s sharp decline, trading above N1,500 to the dollar, had worsened the wage erosion. This has left workers unable to afford basic needs, pushing many deeper into poverty.
Human Rights and Labor Challenges
The document pointed out that weak enforcement of labor laws contributes to worsening poverty levels in the country.
Workers in the informal sector, such as street vendors, artisans, and small traders, rarely benefit from labor protections.
The report also noted that Nigeria’s minimum wage is rarely sufficient to cover basic food, housing, and transport needs.
This has further exposed structural gaps in the government’s approach to economic reforms and poverty reduction.
Governors Push Investment Platform
Meanwhile, the Nigeria Governors’ Forum (NGF) has launched a new investment initiative called NGF Investopedia.
The platform seeks to attract capital flows into bankable projects across all 36 states, with the goal of tackling Nigeria’s annual $100 billion infrastructure financing deficit.
The launch event in Abuja gathered governors, international partners, and investors. The forum described the platform as a long-term strategy to unlock growth opportunities across states and strengthen Nigeria’s subnational economies.
NGF Chairman and Kwara State Governor, Abdulrahman AbdulRazaq, said Nigeria must urgently leverage its human and natural resources to address poverty and joblessness.
“Here is Africa’s largest economy, endowed with abundant human and natural resources,” he said, stressing that state governments must play a bigger role in attracting investments and supporting local industries.
A Widening Gap
The contrast between the U.S. report on wage decline and the governors’ push for investment highlights Nigeria’s economic paradox.
While authorities promote foreign capital inflow, millions of workers continue to survive on wages that have lost most of their value.
With inflation rising, food prices soaring, and the naira weakening, the gap between earnings and cost of living keeps widening.
Unless enforcement improves and the informal sector is integrated into wage protections, the N70,000 benchmark may remain symbolic rather than effective.
Fidelity Bank may have hit another milestone the Fidelity Naira Card is now accepted globally.
This was disclosed in a message sent to Diaspora Digital Media (DDM) via email on Monday.
According to the statement entitled “Your Fidelity Naira Card Now Works Globally; Shop, Pay and Withdraw with Ease!“, customers can buy favourite global brands online using their Fidelity Naira Card.
The band also stated that they can equally pay at POS terminals abroad and make cash withdrawals at ATMs as they travel.
The message reads:
“We’re excited to let you know that your Fidelity Naira Card is now enabled for global use — so you can shop, spend and withdraw internationally with confidence.
“Here’s what you now enjoy every quarter:
|
Channel |
Transaction Limit |
| ATM Withdrawal abroad | $500 |
| Online/Web & POS Payments | $ 1,000 |
“What does this mean for you?
- Shop your favourite global brands online
- Pay at POS terminals abroad with ease
- Withdraw cash at ATMs when you travel.”
The statement, however, noted that the $1,000 quarterly limit applies to all international transactions combined, including ATM withdrawals, online purchases, and POS payments.
The bank urged customers who may need assistance with setting card limits or activating their cards for global use, to contact the bank’s customers care “Centre Trueserve”, which is available round the clock, whether in Nigeria, or outside the country.
“Your world, your card — spend smart, spend globally with Fidelity,” the message concludes.
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