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JUST IN: APC Tackles Obi

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Text of a press statement released on Tuesday by National Publicity Secretary, All Progressives Congress (APC),Felix Morka, Esq.

PETER OBI, A LOQUACIOUS AND DISRUPTIVE BACKSEAT DRIVER*

The presidential candidate of the Labour Party in the 2023 general elections and former Governor of Anambra State, Mr. Peter Obi, has continued, unabashedly, to showcase his obsessive devotion to self promotion against the best interest of Nigeria.

Mr. Obi’s latest statement on the country’s economic situation is an admixture of half truths, blatant distortions and misinformation calculated to mobilize outrage against the All Progressives Congress (APC) government of President Bola Ahmed Tinubu.

His warped conclusion that Nigeria’s economic crisis was caused by nine years of APC-led administration is a highly revisionist, dishonest, distorted and deliberately misleading assessment of the country’s economic trajectory in the last decade. He opined, rather mischievously, that no efforts were being made by President Bola Ahmed Tinubu’s administration to tackle poverty and unemployment in the country.

READ ALSO: BREAKING: Obi, Labour Party Not Involved In ‘EndBadGovernance’ Protest

The facts tell a far more complex and different story. The country’s economic decline began under the watch of the Peoples Democratic Party (PDP) with GDP growth plummeting from 7.98% in 2010 to 2.79% in 2015. And since 2015, the global oil price crash, geopolitical tensions, climate change, global COVID pandemic and rising population have all taken a toll on Nigeria’s economy that is almost entirely dependent on drastically reduced oil export earnings.

The growth recorded during the PDP years was due entirely to high price of crude oil and increased government spending that it supported.

It is noteworthy that between 2007-2014, Nigeria earned $531.2 billion under the PDP, compared to $287.8 billion under APC between 2015-2022. This drastically reduced export earnings under the APC administration was even further stretched thin by the country’s population surge from 184 million in 2015 to 229 million in 2024.

Despite the huge revenues available to it, successive PDP administrations neglected to address underlying structural challenges and distortions in the economy leaving the country vulnerable to economic shocks and volatility. Had the PDP undertaken a sustained programme of economic reform as President Tinubu is currently engaged, Nigeria’s economic situation would be far better than it is today.

But in his selfish political desperation, Obi will never acknowledge the complexity of the causation of our economic challenges but would rather attempt to scapegoat the APC administration for all of the country’s economic ills while turning a blind eye to the bold and thoughtful policy interventions of President Tinubu’s administration.

The administration’s focused and determined efforts to tackle the country’s challenges through diversification, massive infrastructure development, social welfare, agricultural revolution and sustained improvements in national security are certain to accelerate Nigeria’s resurgence, create jobs and lift millions of our people out of poverty.

Quite contrary to Obi’s jaundiced and gloomy analysis, in the last one year alone, the country has attracted over $20 billion into the economy, aside recording an all-time high N6.52 trillion
trade surplus in the first quarter of 2024 marking a positive shift from a long history of trade deficits.

Despite clearing the backlog of the foreign exchange debts owed foreign airlines and other economic actors by the Central Bank of Nigeria (CBN), the nation’s foreign reserves has continued to expand, hitting upwards of $34 billion, the highest in recent times. Capital inflow into the country increased by 66.27 percent this year alone.

Notable financial experts and the Nigerian Bureau of Statistics (NBS) report that for the first time in our economic history, the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) crossed the 100,000 benchmark this year, making the Nigerian Stock Exchange currently about the most profitable capital market in the world with a return on investment (RoI) as high as 22.90 percent.

The International Monetary Fund (IMF) projects that the nation’s economy will have a 3.1 percent Gross Domestic Product (GDP) growth in 2024, one of the highest projections for any African country.

Initiatives such as the Credit Corps, Students Loan, the newly approved minimum wage, the construction of 700-kilometre Lagos-Calabar coastal highway, and many more are tailor-made by the President Tinubu’s to combat poverty and expand economic opportunities for Nigerians.

Mr. Obi is a loquacious and disruptive backseat driver who has assigned himself an ignoble role of an embittered loser and spoiler. Economic challenges and hardship are a stark reality of most countries of the world today, both developed and developing. It is an existential condition that must be tackled and transformed. This is an arduous task that requires collective patriotic collaboration.

Mr. Obi must know that inflaming passion and mobilizing outrage through false and manipulative narratives are not legitimate tools of opposition politics. Expecting President Tinubu to accomplish total transformation of Nigeria in one year, a feat he failed miserably to accomplish in eight years as Governor of Anambra state, is the height of disgraceful hypocrisy.

President Tinubu remains focused and committed to building lasting blocks of economic prosperity for Nigeria.

 

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LASTMA Alerts Motorists to Traffic Delays on Ogunnusi Road

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The Lagos State Traffic Management Authority (LASTMA) has alerted motorists to traffic delays along Ogunnusi Road towards Ojodu-Berger due to ongoing rehabilitation work.

LASTMA disclosed this in a post on its official X account on Sunday, stating that the road rehabilitation was being carried out by the Lagos State Public Works Corporation (LSPWC).

According to the agency, “The ongoing work is affecting traffic flow, with vehicles moving at a slower pace in both directions.”

ALSO READ: Chaos On Lagos-Ibadan Expressway As LASTMA Shuts Otedola Bridge

To ease the situation, LASTMA said a contraflow arrangement had been introduced for motorists travelling from Omole Junction towards Vis Junction.

“A contraflow arrangement is in place for vehicles coming from Omole Junction towards Vis Junction to facilitate the movement of traffic,” the agency stated.

LASTMA added that its personnel had been deployed to manage traffic and ensure the continuous movement of vehicles around the affected area.

“Our personnel are on ground managing the traffic situation and ensuring the continuous flow of vehicular movement,” the agency said.

The traffic management authority advised motorists to remain patient and exercise caution while the rehabilitation work continues.

“Motorists are advised to exercise patience and drive with caution while the rehabilitation work continues,” LASTMA stated.

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Dangote Investments are Catalysts for Africa’s Economic Growth – AFC

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Leading economists, financial experts and industry stakeholders have described the Dangote Group’s investments as major drivers of industrialisation and economic transformation across Nigeria and Africa.

The experts cited the Group’s impact on job creation, import substitution, foreign exchange conservation and economic competitiveness.

They voiced their thoughts at the Lagos Economic Summit themed “The Real Deal: Africa’s Greatest Investment Opportunity,” where they urged governments to implement policies that strengthen local industries and accelerate economic diversification.

President and Chief Executive Officer of the Africa Finance Corporation (AFC), Samaila Zubairu, commended the Dangote Group’s sustained investments across Africa, describing them as critical to unlocking the continent’s economic potential.

He noted that while recent economic reforms have improved foreign exchange stability, strengthened reserves and eased inflationary pressures, the focus must now shift to growth in industry, productivity and employment.

READ ALSO: NMDPRA Shares July Domestic Cooking Gas Supply Details

Also speaking, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, said industrialisation remains the most effective path to sustainable economic development.

He called for better alignment of trade and industrial policies, stressing that local manufacturers require strategic support to compete effectively and drive broader economic benefits.

Founder and CEO of Nairametrics, Ugodre Obi-Chukwu, said Africa’s growing population presents a significant industrial opportunity, noting that investments such as the Dangote Refinery are helping to retain capital within the continent while strengthening local production capacity.

In his keynote address, Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said Nigeria is gradually transitioning from a consumption-led economy to one driven by investment and production.

He added that sustained investments in productive sectors will continue to stimulate growth, create jobs and improve living standards.

Participants at the summit also advocated stronger credit infrastructure, improved national identification systems and increased investment in skills development to enhance the productivity and global competitiveness of Africa’s growing youth population.

Photo Caption: From Left – Chief Economist, Dangote Industries Limited, Dr. Hassan Mahmud; Lady Maiden Alex-Ibru; Chairman of Occasion/Special Guest of Honour, Samaila Zubairu; Key Note Speaker Session 1, Bismarck Rewane; during the Real Deal: Africa’s Greatest Investment Opportunity, Sponsored by Dangote Industry Limited in Lagos on Thursday 3, September 2026.

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VDM Fires Back at Police, Releases First ‘Evidence’ Over Kidnap Claims

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#Nigeria Decides: 10,000 Security Personnel Deployed In Plateau

Social media critic Martins Vincent Otse, popularly known as VeryDarkMan (VDM), has released what he described as his first piece of evidence after the Nigeria Police Force challenged him to substantiate his allegations that some police officers allegedly collaborate with kidnappers.

VDM released a video on his Instagram handle on Thursday, August 27, 2026, shortly after the police invited him to provide evidence supporting the claims he made at the 66th Annual General Conference of the Nigerian Bar Association (NBA) in Port Harcourt.

SEE MORE: ‘Provide Evidence’ — Police React to VDM’s Explosive Kidnap Allegation

The activist captioned the video: “My evidence number 1.”

Recalled that VDM, who was a panellist at the NBA conference on Tuesday, had alleged that some police officers manning checkpoints along major highways provide kidnappers and bandits with information about travellers.

According to him, the officers allegedly relay details about the identities and movements of travellers to criminal groups, thereby facilitating abductions for ransom.

The allegation triggered a response from the Nigeria Police Force, which denied the claim and challenged VDM to substantiate his allegations.

The police invitation came as the force sought evidence to support the serious claims made by the social media critic.

In response, VDM released the video, describing it as his “evidence number 1”, signalling that he may provide further material to support his allegations.

The development has continued to attract attention, with the controversy placing renewed focus on allegations of possible collaboration between security personnel and criminal groups involved in kidnapping and banditry.

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