The Chairman of the Senate Committee on Ethics, Privileges and Public Petitions, Neda Imasuen, has declared that Nigeria has “no business with poverty,” urging urgent diversification of the nation’s economy to tackle persistent fiscal and developmental challenges.
Speaking during a budget defence session of the Senate Committee on Appropriation in Abuja, the Edo South lawmaker lamented what he described as the country’s overdependence on oil, warning that neglect of other sectors continues to weaken the economy.
“I just believe that we pay too much lip service to the issue of diversification. We have all we need, yet we have ignored other sectors — and that is what is killing us. We have no business being poor in Nigeria, none at all,” he said.
Drawing comparisons with countries that have thrived on non-oil resources, the Senator stressed that Nigeria’s vast natural endowments should translate into prosperity, not hardship.
Imasuen also raised concerns over funding gaps in Ministries, Departments and Agencies (MDAs), describing the situation as contradictory and counterproductive.
“You are given huge figures, yet there is no actual cash backing. That is the oxymoron of it all — trillions on paper, but not a penny in reality. It shows we are not serious,” he stated.
He argued that genuine economic diversification must begin with proper funding of key agencies capable of unlocking Nigeria’s resource potential, noting that every State possesses untapped minerals that could drive growth, reduce unemployment and curb insecurity.
According to him, failure to harness these resources has deepened poverty and joblessness, especially among the youth, a situation he described as “shameful and painful.”
The lawmaker further called on the Appropriation Committee to prioritise critical agencies, insisting that timely releases of funds are as important as budgetary allocations to ensure effective service delivery.
He also emphasised the importance of maintenance culture, rejecting claims that Nigerians do not value upkeep.
“We maintain our homes. It is not a cultural problem; it is neglect. The more attention we give to maintenance, the better for us,” he said.
Highlighting infrastructure as a key driver of economic growth, the Senator singled out the Federal Road Maintenance Agency (FERMA) as a critical institution that requires increased funding.
He explained that road infrastructure plays a vital role in linking agriculture and other sectors to markets, describing FERMA’s work as central to national productivity.
“There is a symbiotic relationship between FERMA and virtually every sector. If roads fail, other sectors cannot function optimally. We must pay close attention to this agency,” he added.
Imasuen commended the agency for its performance despite limited resources and urged lawmakers to approve increased funding to enable it deliver effectively.
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