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Peter Obi Berates Nigerian Leaders Worsening Economic Crisis

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The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has criticized Nigerian leaders for their misplaced priorities amidst the country’s declining economic fortune. Obi, in a social media statement, noted that Nigeria’s GDP growth rate plummeted from 6.72% between 1999-2014 to 2.79% in 2015, followed by a recession in 2016 with a negative growth rate of -1.58% and 0.82% in 2017.

He lamented that the country’s economy has regressed significantly over the past nine years, with Nigeria losing its position as Africa’s largest economy. He said, “When Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999-2014. The impressive growth trajectory, unfortunately, was not sustained by the then-new government and our GDP growth collapsed to 2.79% in 2015 and then sank into a recession in 2016 with a negative growth of -1.58% and 0.82% in 2017. For the past 9 years, Nigeria’s economy has seen unprecedented retrogression on many fronts.

“In 2014, just before the inception of a new administration a year later, Nigeria had the biggest economy in Africa with a Gross Domestic Product of $568.5 billion and a GDP Per Capita of about $3,200.

“Our economic indices pointed towards hope and prospects for the future growth of the economy. Nine years later, the giant of Africa has retrogressed to the 4th largest economy in Africa.

“Reports showed our GDP in 2023 stood at $375 billion with a per capita of $1700. In 2024, our estimated GDP declined further to $253 billion with an estimated per capita of $1087. These trends and figures show how our 9 years journey since 2015 has resulted in a sharp decline in our national prosperity.”

He added, “Today, poverty is pervasive and on the increase. Unemployment is rising. Food inflation has skyrocketed to over 43%.

Foreign and local investors are losing faith in the future growth of our economy and are leaving in large numbers.

“Businesses are shutting down. Urgent actions need to be taken to salvage the nation from further economic collapse and move it from consumption to production.” Instead of addressing these pressing issues, Obi accused leaders of prioritizing their selfish luxuries and lavishness while blaming others for the country’s problems.

According to him, politics should focus on serving the people and bettering society, committing to inclusive and sustainable growth to alleviate hardship and achieve a peaceful and secure society.

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Police Uncover N7.7bn Telecom Fraud, Arrest Six Suspects

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The Nigeria Police Force has uncovered a ₦7.7 billion cyber-enabled telecommunications fraud and arrested six suspects linked to the illegal diversion of airtime and data resources belonging to a telecom company.

In a statement issued on Wednesday by the Force Public Relations Officer, Force Headquarters, Abuja, Benjamin Hundeyin, the police said the operation was carried out by the National Cybercrime Centre following a petition from the affected company.

According to the statement, the company reported “suspicious and unauthorised activities within its billing and payments infrastructure.”

The police said investigations revealed that “internal staff login credentials had been compromised, granting threat actors unlawful access to core systems.”

The syndicate responsible for the illegal diversion of a telecommunications company’s airtime and data resources, resulting in “an estimated financial loss of over ₦7.7 billion.”

Following weeks of planning, the police said “coordinated enforcement operations were executed in October 2025 in Kano and Katsina States, with a follow-up arrest in the Federal Capital Territory.”

The statement added that six suspects were arrested during the operation.

“They include Ahmad Bala, Karibu Mohammed Shehu, Umar Habib, Obinna Ananaba, Ibrahim Shehu, and Masa’ud Sa’ad,” the police said.

The Punch

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El-Rufai Makes Case for Tinubu’s Impeachment, Accuses President of Illegal N100bn Monthly Deductions

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Former Kaduna State Governor, Nasir El-Rufai, has accused President Bola Tinubu of deducting N100b every month from the federation account without approval.

Speaking during an interview on ‘Prime Time’, a programme on Arise Television, El-Rufai said such an action deserves nothing but impeachment.

According to him, the unauthorised deductions have been going on for over 15 months, amounting to a total of N1.5 trillion.

He said: “Government data. I’m not quoting something out of the air. So for that 100 billion that goes out every month from the Federation account, without appropriation by the National Assembly, by the way, without appropriation by the state assemblies, because part of the money belongs to the states.

“So each state assembly is supposed to appropriate that part. So the entire deduction and expenditure is unconstitutional. It’s an impeachable offense, but it has been going on for more than 15 months from the last time I checked.

“So where has that 1.5 trillion gone? What is it being used for? Why is the security situation just getting worse? Why is the government asking communities to protect themselves?

“Look if you asked me in 2022 or 2023 when we were campaigning, that things would ever be this bad, I would say that you are mentally ill.”

DailyPost

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FG vs Sowore: Court Admits As Exhibit Video of Reno Omokri Calling Tinubu ‘International Drug Baron’

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Human rights activist and former presidential candidate Omoyele Sowore on Tuesday presented a video in the Federal High Court in Abuja showing former presidential aide Reno Omokri referring to President Bola Tinubu as an “international drug baron”. The move forms part of Sowore’s defence in his ongoing trial for alleged cyberstalking and online defamation against the Nigerian leader.

Sowore, who ran under the African Action Congress (AAC), is facing charges filed by the Department of State Services (DSS) over social media posts reportedly describing President Tinubu as a “criminal.” The case is being heard before Justice Mohammed Umar.

During proceedings, Sowore’s lawyer, Marshal Abubakar, resumed cross-examination of the prosecution’s first witness, DSS operative Cyril Nosike. Abubakar questioned Nosike on the agency’s practices, asking whether the DSS conducts background or security checks on nominees for sensitive government positions, such as ambassadors, ministers, and judges. Nosike admitted he was not aware if such procedures were carried out.

The defence also probed why the DSS cleared Reno Omokri for an ambassadorial appointment despite his public statement labeling President Tinubu an “international drug baron.” Nosike stated that he could not provide an explanation for the clearance.

Abubakar further asked the witness about a public remark by President Tinubu in which the President pledged to protect the constitutional right of Nigerians to criticize, insult, or call him names. Nosike was unable to confirm awareness of that statement. The defence then questioned why, given the President’s public commitment to free speech, the DSS had proceeded to file charges against Sowore.

Following this line of questioning, the defence sought court approval to tender two video clips as evidence: one featuring Omokri’s “international drug baron” remark and another showing President Tinubu affirming citizens’ right to freely critique him. Counsel for the DSS, Akinlolu Kehinde, SAN, objected, arguing that the videos were being “played to the gallery” and that the maker of the clips had not been listed as a witness.

After reviewing the submissions in line with the Evidence Act 2023, Justice Umar ruled that the video clips were relevant and admitted them as exhibits. The court adjourned the matter to February 4, 2026, for continuation of cross-examination.

Reno Omokri was among 64 ambassadorial nominees confirmed by the Senate in December 2025. The confirmation followed the adoption of a report from the Senate Committee on Foreign Affairs, which indicated that all nominees had been vetted and deemed suitable for appointment.

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