Asikhia spoke at the 57th Inaugural Lecture of Babcock University, titled, “It Is Time to Use Functional Businesses to Kill Poverty in Africa”.

This was stated in a statement issued on Tuesday in Lagos by Mr Olawale Adekoya, the Information and Media Officer of Caleb University.

“Africa does not lack potential, talent or resources. What we need are functional businesses, visionary thinking, integrity and institutions that work.

“In 2022, 546 million Africans were living in poverty, the continent currently carries the highest global proportion of the world’s poor, and projections for 2025 suggest extreme poverty may reach 43.9 per cent, affecting more than 438 million people.

“Nigeria holds the largest share of global extreme poverty, while South Sudan, Somalia, Nigeria and Madagascar are projected to record some of the continent’s highest rates,” he said.

He identified the root causes as income inequality, weak governance, policy inconsistencies and institutional deficiencies, insisting that a continent so endowed in resources cannot afford to remain trapped in poverty.

Reviewing decades of poverty alleviation efforts across Nigeria, Senegal, Egypt, Ethiopia, Kenya and Zambia, Asikhia argued that many programmes failed because they distributed money rather than creating wealth.

“The missing link is that Africa has spent too long sharing cash instead of deliberately building functional businesses capable of generating wealth,” he said.

He proposed a paradigm shift anchored on what he termed a ‘Functional Business Model’ — enterprises designed not only for profit, but for societal development, civic value and sustainable prosperity.

“Functional businesses embed themselves within the community, co-creating wealth, generating livelihoods and ensuring equitable distribution of value.

“Africa will not escape poverty through donations but through deliberate creation of businesses that share wealth, build capacity and give people dignity,” he said.

On the role of universities, Asikhia challenged higher institutions to move beyond theory to practice, serving as hubs of innovation and enterprise.

“Findings from a survey of 581 SMEs in Nigeria showed that only 15 per cent of wealth created contributed to poverty alleviation,” he said.

To reverse this trend, he called for practical entrepreneurship to be embedded into every curriculum, formal registration of student start-ups in partnership with the Corporate Affairs Commission, and the transformation of university-owned ventures — water production, bakery and agribusiness — into instruments for community empowerment.

He further advocated the adoption of SEPA (Social Entrepreneurship for Poverty Alleviation), enabling students to engage in community development projects, grant writing, research and business incubation.

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Aghahowa said this in an interview with our reporter on Tuesday while reacting to the below par performances of the Super Eagles and preparations toward the 2024 AFCON.

It was reported that Nigeria Super Eagles will play the Biennial AFCON starting from Jan. 13 to Feb. 11 and are in Group A that has the host, Cote D’Ivoire, and Guinea-Bissau, as well as Equatorial Guinea.

Nigeria is to play the first match against Equatorial Guinea on Jan. 14, play host Cote D’Ivoire Jan. 18, and square up against Guinea-Bissau in the last match of the group on Jan. 22, 2024.

Aghahowa, who scored 14 international goals for Nigeria, emphasised the importance of absolute commitment among players representing the Nigerian national team.

While commending the talent within the Super Eagles squad, Aghahowa said that wearing the national jersey requires more than just skill.

He also said that the players should demonstrate unwavering commitment and passion when playing for the country.

He, however, raised concerns about the players’ level of commitment, particularly when facing challenges unique to playing in Africa, unlike in Europe where the style of play is more familiar.

According to him, competing in Africa presents different difficulties, such as facing home-based players who bring a strong sense of national pride to the game.

The former striker noted that when other African countries face Nigeria, they often put up strong fights to gain recognition on the global stage.

“I am optimistic about Super Eagles’ chances at the AFCON, the players are talented, and they have the capacity to deliver.

“The main issue I am having is the willpower; that’s enthusiasm and passion to deliver 120 per cent. That is the concern, their commitment,” he said.

Aghahowa, therefore, said that the Super Eagles must approach these matches with the same level of determination and fight back to maintain their status.

He stressed on the need for the Nigerian players to understand the tough nature of these games and prepare accordingly, as their opponents would not make it easy.

Aghahowa, a member of 2,000 Summer Olympics, expressed his belief in the abilities of the Super Eagles, highlighting their potential to succeed.

He, however, reiterated that the players must combine their talent with a strong commitment to winning, particularly in matches where the outcome might not go as planned.

He encouraged the players to give their all in every game, knowing that they had done everything possible to achieve success.

“The players are in Europe which is easier, because everybody is playing same style, but coming to Africa to play and vie for major tournament like World Cup qualifiers or AFCON, we are not going to have it easy.

“The other African countries will come win their home-based players, and when a country has a full home-based team, what do we expect?

“Our players need to have it at the back of their minds that it will be difficult to match and be well prepared. Once every they sort that out, the rest will bean history.

“The players can do it, and I believe in them, but that commitment and resilience the game is a must win should be added to their mentality,” he said.

Aghahowa also admitted that it might not be realistic to win all matches, yet adequate preparations and commitment must be shown in case the results didn’t go as planned.

“Our players should be able to beat their chest that they did all they could in case the match did not go as planned.

“The fans themselves will see the outcome that they tried but didn’t get the result. But in another scenario, when they play without sweat and lose the game, that is not what we want.

“Playing with commitment is for their good as well and for the country. If we miss the World Cup, many things are at stake for the economy, media, tourism and other companies won’t bring their money.

“Losing the World Cup ticket is not a win win situation, because I can see that other smaller countries are beginning to have gut to come to Nigeria and hope to win us here, we don’t want that,” he said.

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