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Building a Vibrant Rotary Club under Nigeria’s Economic Hardship: A Path to Impactful Service
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By Gloria Ikibah
Nigeria is Africa’s largest economy, and is currently navigating challenging economic times. Inflation is high, unemployment is a daily struggle for many and cost of living has skyrocketed beyond unimaginable levels.
Amidst this backdrop, the question arises: how can organizations like Rotary Clubs, which are driven by service, continue to make meaningful impacts in their communities?
Rotary Clubs in Nigeria have a long-standing tradition of service, but in this current economic climate, the approach to community service needs to adapt.
The key lies in being innovative, strategic, and closely aligned with the real needs of the people.
Rotary Clubs in Nigeria can remain full of energy, life and make a lasting difference during these trying times by:
1. Firstly, Understanding the Needs of the Community
The first step in building an effective and vibrant Rotary Club in any economic situation, particularly in tough times like these, is understanding the community’s needs. With increasing poverty levels and a widening gap between the rich and poor, Rotary Clubs must be focused on tackling issues that directly affect the community’s quality of life.
Steps to follow to get positive results:
- Conduct a needs assessment, by engaging with traditional and religious leaders, women, businesses, and even community members directly to understand the pressing challenges. Is it unemployment, lack of healthcare, poor education, or inadequate access to clean water or even food? Once you identify the major needs, your club can channel resources into areas where they’ll have the most impact.
- Tailor projects to the economy: In tough economic times, smaller, scalable projects may have more immediate benefits than large, resource-intensive ones. For example, offering vocational training programs to youths can help them gain skills that lead to employment or entrepreneurship.
2. By focusing on grassroots issues, Rotary Clubs in Nigeria can provide real solutions that meet the day-to-day needs of their communities, even with limited resources.
Leveraging Community Assets will involve doing more with less resources available.
At periods when there is economic hardship in thecountry, resources such as funds, materials, and volunteer manpower may be more difficult to come by. However, Rotary Clubs can overcome these constraints by leveraging community assets and partnerships.
Steps to take:
- This will include the Use of local expertise. There are always large numbers of skilled people in every community who may be willing to volunteer their time and talents. For example, local artisans, professionals in the medical, education and retirees can be valuable resources for community service projects. A local carpenter might help with a building project, or a doctor may offer free health seminars or medical outreach.
- There is also the need to form strategic partnerships with local businesses, Non Governmental Organisations NGOs, and even government agencies to share resources. A Rotary Club in Nigeria can collaborate with small and medium-sized enterprises (SMEs) for Corporate Social Responsibility (CSR) projects. This could be a win-win, as businesses will be able to enhance their reputation, while Rotary Clubs will gain access to much-needed resources.
3. Maximize Rotary International (RI) support, especially as Rotary International offers various grant opportunities to support club projects. Rotary Clubs in Nigeria can apply for these grants to fund essential community projects. By tapping into this international support, Nigerian Rotary Clubs can boost their capacity to help communities, even with local financial challenges.
4. Working collaboratively and using community resources not only stretches limited funds but also strengthens relationships within the community, fostering a spirit of collective responsibility.
5. Promoting Self-Sufficiency by carrying out empowerment Projects rather than Handouts. One of the most sustainable ways Rotary Clubs can make an impact in Nigeria’s current economic situation is by focusing on empowerment rather than handouts. When people are provided with the tools and skills they need to improve their situation, this will inturn lead to long-term positive changes.
Steps to take:
- Organise Skills training programs: With the rise in unemployment, many people, especially youths, are turning to entrepreneurship. Rotary Clubs can set up vocational training programs where community members can learn trades such as cooking, baking, tailoring, farming, hairdressing, or even tech skills like coding, IT, how to repair mobile phones and graphic design. These skills will help them start small businesses, find employment, or become self-reliant.
- Rotary Clubs can also help provide access to microfinance services, through partnerships with local microfinance banks or organizations, they can offer low-interest loans or grants to help small businesses get started. In some cases, the club can serve as a guarantor for individuals who need financial support but lack access to formal banking.
- Scholarships and educational support. Despite economic challenges, education remains a pathway out of poverty. Rotary Clubs in Nigeria can offer scholarships to students from underprivileged backgrounds or help provide school materials like uniforms, books, and writing supplies.
- By promoting self-sufficiency, Rotary Clubs are helping to build a future where individuals and communities can thrive, regardless of the broader economic situation.
6. To build a vibrant Rotary Club, there is a need to Strengthen Membership, Keeping Rotary Alive.
For a Rotary Club to be effective, it must have a vibrant and active membership. However, in tough economic times, it may be challenging to attract new members or keep existing ones engaged, as people’s time and financial commitments are stretched.
Here are steps to take:
- Flexible membership options should be adopted, especially as not everyone may be able to afford traditional membership dues, especially during economic hardship. Rotary Clubs can explore flexible payment structures, reduced dues, or installment plans to accommodate more people. Some clubs also offer membership sponsorships, where financially stable members can support others who are passionate about service but unable to pay the dues.
- Offer value beyond service. Being part of a Rotary Club should offer members personal and professional growth. Clubs can invite guest speakers, offer training in leadership or project management, and create opportunities for members to network and build connections. These activities not only keep members engaged but also add value to their lives.
- Encourage participation in small ways. In economic hard times, some members may not be able to contribute financially but can still give their time and skills. Create opportunities for members to volunteer in various capacities, from organizing events to helping with administrative tasks.
- Maintaining a strong membership base is essential for the continuity and vibrancy of the club. Flexible membership options and opportunities for personal development can help ensure that members remain active and committed.
7. Building a Vibrant Rotary Club there should be avenues for Impactful Fundraising, i.e Creative Ways to Raise Money in Tough Times.
Fundraising is a significant part of Rotary’s ability to carry out service projects, but it’s often more challenging during economic hardship. However, Rotary Clubs can get creative with their fundraising efforts to continue financing their activities.
Steps to take:
- Crowdfunding. With the increasing use of social media and digital platforms, Rotary Clubs in Nigeria can set up crowdfunding campaigns to raise funds for specific projects. Platforms like GoFundMe or even local platforms can be effective, especially if the campaign is well-marketed.
- In-kind donations. Instead of always seeking cash, clubs can ask for donations of goods or services. For instance, if a club is organizing a medical outreach, they can request hospitals, clinics, or pharmacies to donate medications, medical equipment, or health services.
- Host community events. Organizing fun community events, such as charity football matches, talent shows, or cultural days, can raise funds while also bringing the community together. Events like these often draw support from local businesses that are willing to sponsor or donate prizes.
These approaches can make fundraising more accessible and ensure that Rotary Clubs continue their good work without relying solely on direct financial contributions.
In conclusion, leading in challenging times, especially in Nigeria’s economic situation is undeniably tough, but that does not mean Rotary Clubs cannot thrive. By focusing on empowerment, leveraging community resources, promoting flexible membership options, and getting creative with fundraising, Rotary Clubs can not only survive but make a lasting and meaningful impact in their communities.
The motto of Rotary—”Service Above Self”—is even more critical in challenging times. Now more than ever, Rotary Clubs in Nigeria have the opportunity to lead, serve, and inspire, building stronger, more resilient communities despite the economic hardships. By remaining focused, adaptable, and committed to service, Rotary can continue to be a force for good, transforming lives one community at a time.
News
Sterling Financial Bucks Banking Slump, Emerges Among NGX’s Top Gainers
By Gloria Ikibah
Sterling Financial Holdings Company Plc defied the broader downturn in the banking sector on Thursday, with its shares rising 6.67 per cent to close at ₦8.00, placing the company among the top-performing stocks on the Nigerian Exchange (NGX).
The impressive performance came on a day when the NGX Banking Index fell by 2.04 per cent and the broader equities market extended its losing streak for a second consecutive trading session.
The company’s shares finished third on the day’s gainers’ chart, contrasting sharply with the wider market, where investors continued to take profits following July’s rally.
Market data showed that the NGX All-Share Index declined by 0.7 per cent, while losers outnumbered gainers by more than two to one. Over the two trading sessions, approximately ₦1.65 trillion was wiped off the total value of listed equities.
Despite the market pressure, Sterling Financial attracted sustained investor interest, with 36.01 million shares valued at about ₦286.8 million exchanged during the day’s trading.
The strong market performance followed the Group’s recently released half-year financial results, which showed a 20.4 per cent increase in profit after tax to ₦50.3 billion, alongside continued growth in customer deposits and total assets approaching the ₦5 trillion mark.
The Group also strengthened its capital position during the period through a successful ₦96.6 billion public offer, which increased shareholders’ funds by 27.8 per cent to ₦547.7 billion, providing additional capacity to support lending and business expansion.
Sterling Financial’s financial performance was further underpinned by improved earnings from its core operations. Net interest income rose by 41 per cent to ₦137.4 billion, while return on average equity stood at 20.6 per cent. Return on average assets also improved to 2.35 per cent from 2.05 per cent recorded in the corresponding period of the previous year.
Industry analysts attributed the stock’s resilience to the company’s strong earnings performance, strengthened capital base and diversified business model, which have continued to bolster investor confidence despite prevailing market volatility.
Sterling Financial operates as a diversified financial services holding company with interests spanning commercial banking through Sterling Bank, non-interest banking under The Alternative Bank, and wealth management services through SterlingFI.
News
Access Bank Dismisses Fake Shutdown Report
…warn against spreading false information
By Gloria Ikibah
Access Bank Plc has dismissed as false and misleading a viral message circulating on social media and WhatsApp claiming that the bank has shut down operations, assuring customers and stakeholders that it remains financially strong and fully operational.
In a disclaimer issued on Friday, the bank said the message, which falsely impersonates its official communication channels, was deliberately designed to mislead the public and create unnecessary panic.
The bank reassured customers that all its branches and subsidiaries remain open for business, with banking services continuing without disruption.
“A message impersonating Access Bank’s official handle is currently circulating on social media and WhatsApp. It is false and misleading.
“We wish to reassure our customers, partners, stakeholders, and the public that Access Bank is safe, financially strong, and fully operational across all our subsidiaries. Our services continue to run seamlessly, and we remain committed to serving our customers with the highest standards of excellence”, the statement read.
The management said it had commenced efforts with security and regulatory agencies to trace those behind the false publication, warning that those responsible would face legal consequences.
“We are working closely with the relevant regulatory and law enforcement authorities to identify those responsible for creating and spreading this false information to cause panic and business disruption. Appropriate legal action will be taken in accordance with applicable laws and regulations”, it stated.
Access Bank also reminded the public that the deliberate creation and dissemination of false information capable of causing public alarm or undermining confidence in institutions is a criminal offence under Nigeria’s cybercrime laws.
“We also remind members of the public that creating, publishing, and disseminating false information capable of causing public alarm, damaging reputations, or undermining confidence in institutions constitutes an offence under Section 24 of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024”, it added.
The bank urged customers and the general public to disregard the viral message and avoid forwarding unverified information, advising them to rely only on updates issued through its official and verified communication channels.
The management expressed appreciation to customers, partners and other stakeholders for their continued confidence in the institution.
“If you receive a false and misleading message, please do not share or forward it. Instead, disregard it and rely only on information communicated through Access Bank’s official and verified channels.
“We thank our customers, partners, and stakeholders for their continued trust and confidence in Access Bank”, the statement further read.
News
Sterling Financial Posts 20% Profit Growth, Assets Approach N5tn in Half-Year Results
By Gloria Ikibah
Sterling Financial Holdings Company Plc has reported a strong financial performance for the first half of 2026, posting a 20.4 per cent increase in profit after tax as the Group’s total assets climbed close to the N5 trillion mark.
The unaudited results for the six months ended June 30, 2026, released on Thursday, showed broad-based growth across major financial indicators, driven by higher interest income, an expanding loan portfolio and sustained growth in customer deposits.
The Group recorded gross earnings of N279.6 billion, representing a 31.5 per cent increase over the corresponding period in 2025. Interest income rose by 33.7 per cent to N223.6 billion, while net interest income increased by 41 per cent to N137.4 billion.
Non-interest income also grew by 23.3 per cent to ₦56 billion, supported by stronger fee income and improved earnings from other operating activities.
Sterling Financial’s balance sheet also recorded significant growth during the period, with total assets rising by 19.3 per cent to N4.67 trillion, while customer deposits expanded by 21.1 per cent to N3.62 trillion, reflecting continued confidence in the Group’s banking operations.
Profit before tax increased by 21.9 per cent to N55.5 billion, while profit after tax rose by 20.4 per cent to N50.3 billion.
The Group also improved its profitability ratios, with return on average equity standing at 20.6 per cent, while return on average assets improved from 2.05 per cent to 2.35 per cent.
Shareholders’ funds grew by 27.8 per cent to N547.7 billion, largely driven by the successful N96.6 billion public offer through which the company raised capital from the issuance of 13.8 billion ordinary shares.
The company also disclosed that its share price had appreciated by more than 15 per cent since the beginning of the year, reflecting stronger investor confidence ahead of the release of its half-year results. Basic earnings per share stood at 77 kobo, reflecting the enlarged share capital following the public offer.
Sterling Financial attributed the performance to ongoing investments in technology and operational efficiency across its subsidiaries, including Sterling Bank, AltBank and SterlingFI.
According to the Group, the modernisation of its technology infrastructure and operating model has improved service delivery, enhanced operational efficiency and strengthened its capacity to support increasing customer activity while maintaining prudent risk management.
The company expressed confidence that its strengthened capital base, expanding deposit base and diversified earnings would position it for stronger growth in the second half of the year.
It noted that the additional capital would continue to support lending to productive sectors of the economy while enabling the Group to sustain long-term value creation for shareholders.
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