Poverty alleviation

Search documents
Beyond Charity: The Transformative power of Quarz-e-Hasna (loan) | Dr. Goni Faruk Umar | TEDxNWU
TEDx Talksยท 2025-09-23 15:16
Economic Empowerment & Social Impact - A person invested 10,000 Naira in someone who then built a 10 million Naira business, highlighting the potential impact of small investments [1] - Redirecting funds spent on religious pilgrimages (estimated at 15 trillion Naira) towards youth empowerment could benefit over 10 million youth in Nigeria [6][12] - Microfinance initiatives, inspired by a Pakistani model, aim to provide interest-free loans (around 500,000 Naira per participant) to empower youth, with a focus on Islamic principles and financial responsibility [8][9][10] - The initiative partners with a bank to guarantee loan returns and ensure the sustainability of the program, with the bank sharing profits to cover operational costs [10] - The speaker advocates for teaching people how to earn a living rather than simply providing them with food, emphasizing empowerment over charity [11] Education & Resource Allocation - A case study revealed that only a small percentage (20 out of 4,800) of secondary school students had textbooks, leading to low university admission rates (5%) [4] - 7 million Naira was used to purchase 9,600 textbooks for secondary school students, resulting in a significant improvement in academic performance (65% pass rate) [4] Financial Analysis & Resource Utilization - Nigerians spent 725 billion Naira on Hajj and approximately 15 trillion Naira (15% of 10 trillion) when combined with Umrah pilgrimages [6] - The speaker's family spent 10 million Naira for a 10-day trip to Saudi Arabia, prompting a re-evaluation of spending priorities towards addressing local needs [2]