Olanipekun: Covid-19 Has Worsened Nigeria’s Poverty Level

Victor Ogunje in Ado Ekiti

A foremost legal practitioner, Chief Wole Olanipekun (SAN), at the weekend, described the Covid-19 pandemic as the most ravaging global economic recession in decades, saying it has aggravated the poor economic situations of the unemployed youth, aged and widows in the country.

The Senior Advocate of Nigeria, who empowered unemployed youth, aged and widows in Ikere Ekiti with N8 million, said the impact of the recession has had adverse effect on the vulnerable groups, hence, the need for urgent support for them.

Olanipekun, who spoke while distributing money to 200 beneficiaries at the 2nd phase of the Wole Olanipekun Foundation’s Youth Empowerment and Widows, Aged programme held in the town, on Saturday, was represented by the General Manager of the Ikere based NewcruizeFM 92.7, Mr. Jide Ogunluyi.

Asking governments to urgently help vulnerable Nigerians for last year’s lockdown had further done colossal damage to their lives, Olanipekun said, “According to the world bank, both the long and near terms outlook for the impact of the Covid-19 pandemic and the damage it has dealt to prospects for growth of world economies are damning.

“The baseline forecast envisions 5.2 per cent contraction in global GDP in 2020, using market exchange rate weights – the deepest global recession in decades, despite the extraordinary efforts of governments to counter the downturn with fiscal and monetary policies.
“The recession is expected to leave lasting scars through lower investments, erosion of human capital through job losses, schooling as well as fragmentation of global trade and supply linkages.”

He, therefore, advised the Ikere community to stand united in the face of its many challenges, saying, “We must remain as one. We must remain united and give Ikere Ekiti a good name.

“My vision with this programme is to provide succour and ameliorate the sufferings of the poor masses. Targeting enterprising youth is part of the best ways to build a virile economy, and each of the beneficiaries must be focused and use the money wisely.”
Cataloguing areas where Olanipekun had contributed to the town’s development, the Ogoga of Ikere, Oba Adejimi Adu, represented by High Chief Sapetu, Prof. Babatola Olufemi, said the lawyer donated a sum of N12 million to the fund for the take off of the Bamidele Olumilua University of Science and Technology, Ikere Ekiti.

He added that the Legal Icon had also donated medical facilities, paid medical bills of the poor, empowered youth, aged, widows and established the NewsCruise FM, the first Private radio station in the community, among other interventions.
Chairman of the foundation, Mr. Seyi Ogoji, charged the beneficiaries to keep to the founder’s vision, which was to provide succour and ameliorate the sufferings of the poor masses.

“This foundation is targeting enterprising youth and supporting those considered to be weak for help. You must go out and multiply and contribute to the economy of this town and our country. The objective is to make you grow as employers of labour.
“We know you are vibrant and have the energy. I know that our youth are hardworking and productive, you are not lazy, especially, Ikere youth. Begin to conceptualise competitive business ideas that can propel your visions.

“According to information from the National Bureau of Statistics, 31per cent of Nigerian youth lacks access to bank loans, even the stringent conditions can’t allow you access it, if available
“But Wole Olanipekun is giving this grant free to our youth without conditions, the only condition we expect is you applying the money well to build yourself, your town, state and country,” he said.