By Mathew Dadiya
National Assembly lawmaker, representing Delta North senatorial district, Senator Prince Ned Nwoko has proposed the establishment of a national social security agency (NSSA) which will replace the ministry of humanitarian affairs to provide social security benefits to all citizens.
This agency according to Ned Nwoko, would aim to ensure that all individuals have access to essential social services and support, particularly in times of need or crisis, reflecting a commitment to promoting social welfare and addressing the needs of vulnerable populations within the country.
Senator Nwoko lamented that the pervasive issues of poverty and the societal decay it perpetuates have reached a level of urgency that can no longer be ignored.
Nwoko pointed out that the current framework, embodied by the Ministry of Humanitarian Affairs, has not only fallen short of addressing these issues but has also perpetuated a cycle of dependency and poverty in the country.
“The cries of hunger, now echoing in the streets, represent far more than just a lack of food. They are the voices of millions of Nigerians who have been stripped of their dignity, left to survive in a system that has failed them repeatedly,” the lawmaker added.
Ned Nwoko, who is also an international lawyer, argued that the humanitarian ministry, while well-intentioned, “has proven to be a temporary bandage on a deep and festering wound. This approach does not respect the inherent dignity of our people. It treats them as dependents rather than as citizens with rights.”
Senator Nwoko stressed that social security should be recognized not as an act of benevolence, but as a fundamental right, appealing to President Bola Tinubu in one of his posts on X handle, @Prince_NedNwoko, “It is time to rethink our strategy and implement a transformative change that will pave the way for a more equitable and sustainable future for all Nigerians.”
He said to ensure the effective functioning and accountability of the National Social Security Agency (NSSA), several measures could be put in place amongst which include: Transparent Governance Structure: Implementing a transparent governance structure with clear roles and responsibilities for all stakeholders involved in the NSSA’s operations. This would include establishing oversight mechanisms to monitor the agency’s activities and ensure compliance with regulations.
Regular Audits And Evaluations
There will be need to conducting regular audits and evaluations of the NSSA’s programs and services to assess their effectiveness and efficiency. This would help identify areas for improvement and ensure that resources are being used appropriately.
Public Reporting: Requiring the NSSA to provide regular public reports on its activities, including financial statements, performance metrics, and outcomes achieved. This would promote transparency and accountability to the public and stakeholders.
Independent Oversight: Establishing an independent oversight body or commission to monitor the NSSA’s operations and ensure that it is fulfilling its mandate effectively. This oversight body could provide recommendations for improvement and address any concerns related to the agency’s performance.
Stakeholder Engagement: Engaging with stakeholders, including beneficiaries, civil society organizations, and other relevant parties, to gather feedback and input on the NSSA’s programs and services. This would help ensure that the agency is responsive to the needs of the population it serves.
By implementing these measures, the NSSA can enhance its accountability, transparency, and effectiveness in delivering social security benefits to all citizens.
On the weakening of the nation’s currency – the Naira, the lawyer cum lawmaker also, expressed concerns about the fragility of the Naira, and has proposed strategies to make it stronger. Some of the strategies that could be considered to strengthen the Naira include: Economic diversification.
Senator Nwoko argued that promoting economic diversification to reduce the country’s reliance on oil exports as the main source of revenue would help create new sources of income and reduce the vulnerability of the Naira to fluctuations in oil prices.
He harps on fiscal discipline to implement sound fiscal policies to ensure responsible government spending and borrowing, adding that it would help maintain macroeconomic stability and strengthen the Naira’s value; enhancing the capacity and independence of key economic institutions, such as the Central Bank of Nigeria, to effectively manage monetary policy and exchange rate stability.
He pointed out the need to encourage foreign direct investment by creating a conducive business environment, improving infrastructure, and providing incentives for investors to help boost foreign exchange reserves and support the value of the Naira.
Senator Nwoko said supporting export-oriented industries will increase foreign exchange earnings and reduce the country’s trade deficit, assuring this would help boost the Naira’s value and improve the country’s external balance.
By implementing these strategies and addressing the underlying factors contributing to the fragility of the Naira, Nigeria can work towards strengthening its currency and promoting economic stability and growth.
Senator Ned Nwoko’s advocacy for making payments in Naira to strengthen the local currency is a commendable effort to promote the use of the national currency and support the economy. By encouraging transactions in Naira, it can help reduce the reliance on foreign currencies and stabilize the exchange rate. This can also boost local businesses and industries, as well as contribute to the overall economic growth of the country. It is important for individuals and businesses to support such initiatives to help build a stronger and more resilient economy.
He added that promoting the use of the local currency in transactions can have several potential benefits saying when transactions are conducted in the local currency, it helps to support local businesses and industries, leading to economic growth and job creation.
According to the lawmaker, by using the local currency for transactions, it reduces the dependence on foreign currencies, which can help stabilize the exchange rate and reduce currency fluctuations, as well as encouraging the use of the local currency can contribute to financial stability by reducing the risk of currency devaluation and inflation.
He pointed out that when people have faith in their local currency and use it for transactions, it can boost consumer confidence and strengthen the overall economy, adding, promoting the use of the local currency can align with government policies aimed at promoting economic development and financial inclusion.
Senator Nwoko said using the local currency can help reduce transaction costs associated with currency exchange and international transactions.
Overall, promoting the use of the local currency in transactions can have a positive impact on the economy, businesses, and individuals, leading to sustainable economic growth and development.
Senator Ned Nwoko has also been involved in various initiatives and projects aimed at contributing to the development of Nigeria.
Nwoko has been a strong advocate for education in Nigeria. He has established scholarship programs to support students in pursuing their academic goals and has also been involved in healthcare initiatives, including providing medical supplies and equipment to hospitals and health centers in Nigeria.
The multi-billionaire politician has invested in infrastructure development projects, such as road construction and rehabilitation, to improve transportation and connectivity in the country.
Nwoko has supported youth empowerment programs and initiatives to help young people develop skills and access opportunities for personal and professional growth especially with the establishment of the sports University in Delta State.
He has been involved in environmental conservation efforts, including tree planting campaigns and initiatives to raise awareness about the importance of preserving the environment.
Overall, Senator Ned Nwoko has made significant contributions to various sectors in Nigeria, with a focus on education, healthcare, infrastructure, youth empowerment, and environmental conservation, urging leaders to initiate and implement policies that will impact the citizens especially the masses across the federation.