Nkechinyere Ewa-Okpara
Arc. Edward Nkwegu, a Nigerian business mogul, industrialist, philanthropist and politician, has said that money alone, without knowledge, cannot eliminate poverty completely.
Nkwegu the Chief Executive Officer (CEO) of Edon Nig. Ltd and founder of Regina Pacis Foundation, a charity organization focused on uplifting the less privileged and the poor in society, stated this in an address he presented during the 20th anniversary of Regina Pacis Foundation at his home town Okpoduma-Agbaja in Izzi local government area of Ebonyi State on Thursday.
According to him, self-sustenance is one of life’s greatest challenges. He noted that many people commit financial mistakes without learning from them.
“The journey to self-sustenance is a journey that involves a cause-and-effect relationship. In nature, every effect has a cause. If we desire financial freedom, we must understand that it requires dedication, sacrifice, and often selfless service to others.
“Yet in our modern world, too many wish to reap the rewards by first planting the seed. Today, individuals complete their studies only to find themselves unprepared for the realities of financial independence.
“While they may have excelled academically, they often lack the practical knowledge needed to navigate a world where money and self-sufficiency go hand-in-hand.
“At Regina Pacis Foundation, we firmly believe that poverty is largely a result of ignorance and lack of financial education. Across races, cultures, and walks of life, people struggle for financial stability.
“We see a new generation, well educated yet often financially unstable. Many in their 30s and 40s, despite impressive degrees, remain unemployed or dependent, lacking hope of ever becoming self-reliant.
“Regina Pacis Foundation is dedicated to empowering individuals with the knowledge needed for self-reliance. We believe in giving people a second chance through financial education, starting with foundational concepts that foster a language of financial literacy and self-sufficiency.
“Knowledge is the new currency. But real change begins with words and understanding. Money alone cannot eliminate poverty; however, financial literacy equips people to use resources wisely and build sustainable futures”, he said.
The state governor, Francis Nwifuru, was represented at the event by Deputy Governor Patricia Onyemaechi Obila.
Highlight of the event was exhibition of cultural activities among others.