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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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Endure a Little Bit More, FG Tells Nigerians Amid Hardship

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The Federal government, on Thursday, said it appreciates the endurance of Nigerians on side effects of economic reforms, which it says have started yielding results.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during an interactive session with the Senate Committee on Finance.

According to him, teething problems from the reforms are over for Nigerians as positive indicators for better days are already emerging.

“The two critical reforms on market-based price of Premium Motor Spirit (PMS) and foreign exchange, are now at the stage of results delivery and by extension, viability of the Nation’s economy through restoration of fiscal viability,” he stated.

“These two pillars of the economic reforms that have taken positive shape now portends additional revenue for government, recovery of the finances of NNPCL and strong  basis for growing the economy, in terms of attracting investment and creating of jobs.

“I think we need to commend Nigerians for staying the cause to  this stage of getting  benefits.”

On his part, the Chairman of the Committee, Senator Sani Musa, said the session was a fact finding one on workability or otherwise of the various reforms.

“Today we gather to deliberate on the pressing matters related to the sales of crude oil to domestic refineries in Nigeria, in Naira and its implication on the approved medium-term expenditure framework and fiscal strategy paper for 2024-2026 and what we should expect for 2025-2027.

“Additionally, we will examine shortfalls in NMPCL revenue remittances, focusing on key areas such as foreign and domestic excess crude accounts, the signature bonus accounts, NMPCL cash call account and any outstanding or remitted revenue linked to under-recoveries.

“This meeting underscores our commitment to transparency, accountability and the responsible management of our national resources.

“I am confident that with the collaboration of the Ministry of Finance under the able leadership of the coordinating Minister of the Economy, the Office of the Accountant General of the Federation, the Central Bank of Nigeria and Revenue Mobilization and Physical Commission and other critical stakeholders present here, we will identify solutions and ensure that due process are upheld for the benefit of our economy and the Nigerian people.”

Aside the Finance Minister, the Group Executive Officer (GCEO) of Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, the Director General of Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, representatives of Governor of the Central Bank also attended the session which was later joined by the Senate President, Godswill Akpabio while in closed door.

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Equatorial Guinea’s Randy Official Denies Sex Tapes, Claims They’re AI Generated

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Baltasar Ebang Engonga, a top government official in Equatorial Guinea, has finally spoken regarding the sex scandal involving hundreds of private recordings with high-profile individuals in the country.

The country’s Director General, National Financial Investigation Agency in Equatorial Guinea, Baltasar Engonga, was arrested for allegedly recording over 400 sex tapes of the wives of notable people in the country.

The scandal emerged in the course of a fraud investigation against the 54-year-old Economist, which resulted in the search of his house and office on impromptu notice by ANIF officials who came across several CDs that later revealed his sexcapades with different married women.

The leaked recordings said to have been consensually filmed, have sparked widespread public outrage and intense scrutiny of the government’s top anti-corruption official.

However, responding to the allegations, Engonga via the microblogging platform, X on Tuesday, denied the authenticity of the videos, attributing the scandal to what he described as the work of “enemies” intent on tarnishing his reputation.

The 54-year-old official also refuted reports connecting one of the supposed victims to a recent suicide, labeling them as untrue.

The scandal has shaken Equatorial Guinea’s political landscape and raised questions about privacy and misconduct among top officials.

Engonga, who was taken into custody following the revelation, continues to deny any involvement as authorities proceed with their investigation.

I want to tell the People of Equatorial Guinea that those videos are AI edited. My enemies are trying so hard to bring me down

“Ignore the rumours about someone’s death linked to the leaked videos. They’re unfounded,” he said.

Engonga said he has only one wife and six children, adding that she is his hero.

I only have one wife and my 6 children. They keep me going. We are a happy family. They are my everything.

If anything ever happens, you are strong enough to guide our children through anything. I trust you completely. You are not just my wife, but my hero,” he added.

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More Millionaires Emerge in Glo Jolly Win Promo 

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The latest winners of the thrilling monthly Glo Jolly Win promotion, have received cheques of N1 million each from Globacom and its partners. This is in addition to the data and airtime bonuses that other Glo users who take part in the promotion receive every day.

At the monthly presentation ceremony in Lagos, five winners were credited with their winnings immediately after the symbolic presentation of their cheques.

Olieh Somtochukwu, a realtor based in Anambra State, became the first person to win N1 million in the promotion in September.

The promotion is being done by Globacom in partnership with Tetragrammaton, the value-added service provider for these services, and Nitroswitch, an aggregator firm licensed by the NCC.

If not that she doubted the veracity of the promo, Mrs. Adebayo Idowu, one of the winners, would have received her check during the first presentation in September. She was reluctant to accept that she had won a million naira, even after multiple conversations, including video calls.

After later becoming convinced, Mrs. Adebayo, a recently retired school teacher, was there with the new batch of winners to receive her prize at last.

Abiodun Oluwasanmi Temitayo, a mechanical engineer; Ashimiu Aminat Idowu, a teacher; Abdul Mumuni Oseni, a corporate driver; and Sanni Ganiu Bayo, a printing and publishing agent from Lagos, are among the other winners.

Speaking about the rewarding promo, Mojeed Aluko of Globacom’s Value Added Services department, said that “the Glo Jolly Win is a lottery service in which subscribers can answer trivia questions or spin a wheel to win loads of airtime, data and cash prizes for as low as N100/day, with no need for downloads or any storage usage on their phones. Subscribers can select their preferred services from the options of Jolly Trivia, Wheel, Win & Life to join in the fun and excitement of the lottery with the potential to become millionaires.”

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