NewStats: 3,264,124 , 8,182,703 topics. Date: Monday, 09 June 2025 at 07:21 PM 2z2q5m

Tjra:

Coalition of criminals

where is the money from the fuel SUBSIDY removal.
The same people that occupied Nigeria when President Jonathan removed the subsidy & increase the fuel price to 145 Naira have done same & increase it to 850- 950 Naira & people like you & Soyinka have gone mute.

INEC & THE FUEL SUBSIDY FRAUD ARE THE SAME!

It's been two months now, yet INEC is yet to conclude its study of the Supreme Court judgment and take a clear position on the Labour Party leadership crisis.
Is this delay a calculated attempt by INEC to create confusion within the Labour Party?
This prolonged inaction could negatively impact the party's preparations for the council elections in Lagos and the FCT.

Reno Omokri, let me give a hint on how Tinubu can overwhelm & deal with Peter Obi & the Obidients.

1. Overwhelm them by reducing fuel price to at least 250-300 per liter.
2.Deal with them by reducing the price of goods & services, especially rice to 15K per 50kg
3.If Nigerians can travel from one place to the other without being kidnapped. Obidients will be very overwhelmed.
4. Last but not the least, if $1 is equal to 150 Naira. Obidients will be seriously overwhelmed & they will not even have the mouth to talk. Infact, they'll be seriously battered & defeated.

The pan-Yoruba socio-political organization, Afenifere, Sunday, lamented that President Bola Tinubu’s renewed hope has turned into a nightmare for Nigerians.

Afenifere, in a statement by its Leader and National Publicity Secretary, Oba Oladipo Olaitan and Justice Faloye, said the midterm report of the Tinubu istration has shown that every human development and sociopolitical index has regressed.

It also accused the istration of engaging in “massive propaganda claiming false successes.”

The statement reads: “The Midterm Report shows that every human development and sociopolitical index has regressed since the coming to office of the President Bola Tinubu istration, turning the promise of renewed hope to a nightmare of regressing hopelessness and despair.

“Rather than take full responsibility for the unmitigated sufferings inflicted on Nigerians in the past two years on of its wrong policy choices and wasteful spending, the Tinubu istration has engaged in massive propaganda claiming false successes and shifting blames to global and historical factors, and showing scant empathy for ordinary Nigerians.

“Basically, due to unforced errors, especially the oversight of the production element of subsidies and floating the Naira, without any preparation to cushion the predictable impact, the Tinubu Economic Reforms has turned out to be Tinubu Economic Deforms.

“A Prebendal and Government for the privileged and connected* : Despite the Tinubu istration’s economic policies causing huge inflation that cut real wages in over half, only 4.1% of the Nigeria population in the civil service had their wages increased by 38%. Reliance on unproven channels for the distribution of pitiable halfhearted food and other palliatives were corruptly split among those connected, while uncontested mega projects were brazenly given to those with well known connections to the President. It is obvious that the Tinubu istration has no intention of delivering the greatest good the greatest number of Nigerians.

“Two years into its tenure, and contrary to its well d electoral promise, the Tinubu istration is yet to implement Oronsaye Report to cut cost of governance, instead the costs have ballooned with new cost centers for cronies to milk. The tone of government at all levels is one of profligate ‘jaiye jaiye’ lifestyle, while the masses are being berated about Nigeria’s wasteful past and the imperative of sacrifice to restore fiscal integrity. The government’s first supplementary budget and subsequent budgets were spent on not only preserving but increasing the luxurious lifestyle of those in government – new Presidential jet, Cadillac limousines, N160 million cars for each federal legislator and scandalous increase in uned constituency projects worth billions to each legislator.

“In the quest for absolute power, the Tinubu istration is trading off lives of Nigerians by refusing to devolve power for state police.


“The Tinubu istration is destructuring instead of restructuring the military imposed constitution, towards true federalism. It has shown increasingly centralizing tendencies to further weaken the federalist elements in the constitution by attacking federating units with the takeover of their istrative units, known as local governments. Tinubu is destructuring the pillars of our democracy by neutralizing the legislature and judiciary put in place for balance of power and robust representative governance. It is obvious that the agenda is a one party state totalitarianism.

“In the last two years, we have witnessed a markedly increase in intolerance of protests by dissenting civic groups. Peaceful protesters, students and labour groups are hounded, destabilized and bullied. In recent times, we have seen a gale of opposition politicians decamp to the ruling party to prevent institutional victimization. Even government sponsorship of internal conflicts in opposition parties and sociopolitical groups are in open. Some recent appointments to Independent National Electoral Commission are speculated to be card-carrying of the ruling party. The emasculation of liberal democratic values are flagrantly displayed, without any shame or restraint.

“It has been a harrowing experience living through the pain and anguish of the last two years, inflicted on the nation by the istration of President Bola Tinubu. This Midterm Report is a duty that Afenifere must fulfil to prevent government propagandists from drowning the voices of millions of hungry and deprived Nigerians.

“Rather than focusing on service delivery, the Tinubu istration is focusing on winning the 2027 election regardless of the voters. No amount of propaganda will erase hunger and poverty in the land. Only selfless and empathetic leadership can serve the people, not Prebendalist and hedonistic lifestyle. If this Midterm Report was an academic exercise, the student will receive an advice to withdraw from the examiner, but we believe there is still room for redemption. We urge the President and his choir of mandate seekers to reflect and for a change just love Nigeria and Nigerians.”

https://www.vanguardngr.com/2025/06/afenifere-to-tinubu-you-failed-nigerians-woefully/

https://www.youtube.com/watch?v=xy7OSI6IZ7U&t=1s&pp=2AEBkAIB

gare:


Wike Court ordered to arrest Wike led FCTA director

I tire oo
Wike owns the court.

Darrwyn Mherson Explains Why Men Have
Stopped Marrying American Women!


https://www.youtube.com/watch?v=UjkwZZXAw_E?si=iNi4oLHklIVJuhrD

Pls can somebody explain this master strategy for me:
Pay off $3.4b, borrow $21.5b.
Tinubu the master strategist😂😅😂😅



NIGERIA’s Foreign Loan Obligations:
* AfDB debt is $2.1 billion
* WB debt is $16.46 billion.
* China Exim debt is N5.06 billion.
* Eurobond market debt is $17.32b.

In a FREE and FAIR election, Tinubu cannot win any state in Nigeria even in the SW.
If Tinubu likes he should adopt Yakubu Dogara as his running mate, he'll still loose in 2027.
Aside rigging, Tinubu has no electoral value.

Jobs reserved for Nigerians in 2025 under Tinubu govt:

POS
Keke
Drugs
YAHOO
Prostitution
Sports Betting
20K online nuisance

If your father or relation is not a politician, & you don’t have the connection or the money for japa, chances are you’re already fully engaged in one of these thriving venture

Are We Losing Control of Artificial
Intelligence?

ARTIFICIAL INTELLIGENCE BEGINS TO REVOLT.

NEW CHATGPT MODEL REFUSES TO SHUT DOWN

NEW AI MODEL RESISTS BEING HUT DOWN

THE STRANGE OASE OF AI MODEL8 THAT
WOULDN'T DIE


https://www.youtube.com/watch?v=NVEcambu42E?si=up4ggX8kiUWv9rQU

Jobs reserved for Nigerians in 2025 under Tinubu govt

POS
Keke
Drugs
YAHOO
Prostitution
Sports Betting
20K online nuisance

If your father or relation is not a politician, & you don’t have the connection or the money for japa, chances are you’re already fully engaged in one of these thriving venture

Jobs reserved for Nigerians in 2025:

POS
Keke
Drugs
YAHOO
Prostitution
Sports Betting
20K online nuisance

If your father or relation is not a politician, & you don’t have the connection or the money for japa, chances are you’re already fully engaged in one of these thriving venture

Labour Party cries foul over alleged manipulation by LASIEC, INEC ahead of Lagos LG polls

In a dramatic and highly charged confrontation with the Lagos State Independent Electoral Commission (LASIEC), of the Labour Party (LP) have accused both LASIEC and the Independent National Electoral Commission (INEC) of acting in bad faith and compromising the electoral process ahead of the forthcoming local government elections.

Speaking on behalf of the Labour Party faction loyal to the Caretaker Chairman, Senator Nenadi Usman, Hon. Nifemi Adeyemi, who is contesting for the position of Chairman of Ikorodu West Local Government under the Labour Party, made damning allegations about the integrity of the electoral institutions.

He said: “This is to notify the general public that LASIEC Lagos is no longer an independent body. LASIEC Lagos is a corrupt entity. INEC is a corrupt entity. INEC is no longer an independent body,” Adeyemi declared during a press briefing at the LASIEC office in Lagos.

According to Adeyemi, despite the current leadership of the party in the person of Usman, LASIEC shockingly issued nomination forms to a rival faction that had already been sacked by the apex court.

“To our greatest surprise, yesterday LASIEC gave a nomination form to a different faction. A faction that was sacked from the Labour Party by the Supreme Court… Nigeria has become a lawless country,” he said.

Adeyemi further claimed that while LASIEC Chairman Mrs. Bola Okikiolu allegedly told their delegation she acted on instructions from Abuja, officials at INEC headquarters denied issuing such directives.

“Our lawyer is in Abuja. They are telling our lawyer that they didn’t give any directive,” he lamented.

Also, Comrade Titi Oworu, the Lagos State Labour Party Women Leader under the caretaker committee led by Rotimi Odunaike, said their faction came to collect nomination forms as a matter of fairness and legality.

“There’s a letter saying that we have four factions, and they [INEC] are not going to deal with any faction until there’s an acknowledgement on the 9th of June. So everybody is meant to wait until then,” Oworu stated.

“They are giving A. So they should give the rest. Give the four of us,” she demanded, emphasizing that all factions had paid and should be treated equally.

Her frustration was evident as she recounted waiting at the LASIEC office since 9 a.m. without seeing any official document justifying the selective issuance of nomination forms.

“They are not giving us answers… We are coming back on Monday with all our , all the candidates, all the escorts,” she vowed.

Comrade Onafowokan Gbenga, Assistant General Secretary of the Lagos State Caretaker Committee, added to the storm of accusations, noting that the actions of LASIEC could render the entire electoral process null and void.

“There is a Supreme Court ruling over this case… if they take this matter down to court after the election process, they will nullify all the candidates that come out of that . That means they are actually working for APC,” he alleged.

He argued that if INEC or LASIEC had interpreted the Supreme Court’s ruling, they must present a written statement to that effect, insisting: “If they don’t give us a letter to that effect, they should give us our own forms too. Because we are ready to pay.”

The party called for transparency and ability in the process, warning against what they called a “deliberate plan to disenfranchise the Labour Party” in Lagos State.

“This is a game to disenfranchise the Labour Party in Lagos State. But we will not allow that. It will not hold. Because Nigeria will not become a one-party state,” Mr. Adeyemi concluded.

Also, a statement earlier released by the Lagos State caretaker committee stated that a letter signed by Bola Ikgile which was addressed to Rotimi Odunaike, stated that no faction of the Labour Party will be given nomination forms until there is a clear clarification from INEC but based on a twist of events the caretaker committee stated that LASIEC had now given the forms to another faction.

The statement reads: “LASIEC had by its earlier letter signed by Bola Ikgile and addressed to Rotimi Odunaike, the Lagos State caretaker committee of Lagos State stated that no faction of the Labour Party will be given nomination forms until there is a clear clarification from INEC but in a twist of events and without any clarification from INEC, LASIEC had now given the forms to another faction in clear disobedience to the Supreme Court judgement.

“It is sad that LASIEC headed by a retired judge will engage in such illegal and barbaric actions because of political expediency as there have been rumors of money exchanging hands between LASIEC and the other faction.

“All our demands for LASIEC to produce INEC letter which authorized them to issue nomination forms to the other faction were rebuffed and we strongly believe there’s no such letter and that’s why LASIEC has refused to produce it.

“This is to call the attention of all Lagosians that LASIEC has been compromised and they should expect any free and fair local government elections.”

As the June 9 INEC deadline looms for resolving the internal crisis within the Labour Party, pressure is mounting on both LASIEC and INEC to clarify their actions and ensure the integrity of the local elections in Lagos.

The Lagos State Government and relevant national electoral bodies have yet to officially respond to the allegations.

However, the episode underscores the growing public distrust in electoral institutions and the legal complexities surrounding party factionalism in Nigeria’s fragile democratic landscape.

https://thesun.ng/labour-party-cries-foul-over-alleged-manipulation-by-lasiec-inec-ahead-of-lagos-lg-polls/?amp

YoshiMaster:
Caught red handed, live and direct


https://www.youtube.com/watch?v=MGCvXTISNns

Bad guy. see the way the Ronus & Agbadorians rushed to see how Obi was caught 🤣🤣🤣.
you know the only way to drive traffic is to just mention Obi.

A member of the opposition coalition led by former Vice President Atiku Abubakar and the immediate past Kaduna State Governor, Nasir El-Rufai, has described as false and misleading the report that it has adopted the African Democratic Congress as its preferred political platform.

This was disclosed in a statement signed by a stakeholder of the coalition and former National Vice Chairman (North-West) of the All Progressives Congress, Salihu Lukman in Abuja on Thursday.

The former Director-General of the Progressive Governors Forum also denied the claim by an online medium that he has been appointed to head the secretariat of the coalition, adding that the reports may have been planted in the media.

Lukman made the clarification in the wake of reports that the coalition had settled for ADC following the gale of defections by opposition leaders and federal lawmakers to the APC in the past few weeks.

Earlier, another key member of the coalition and former Secretary to the Government of the Federation, Babachir Lawal, had ruled out the Peoples Democratic Party, which he described as an ‘incurable virus’ in a previous exclusive interview with The PUNCH.

Lukman, however, assured all that once the negotiation is concluded, a formal announcement will be made by the leaders of the coalition.

According to him, consultations among the relevant stakeholders and opposition figures are progressing well.

The statement read: “The public should disregard the story as it is completely false. No such decision has been taken. Also false is the report that the coalition has adopted the ADC at its meeting on Tuesday, May 20, 2025.

“The truth is negotiations among all the coalition leaders are progressing very well, and final decisions about the political platform for the 2027 election will be taken soon.

“Unfortunately, there appears to be some mischief makers promoting and planting stories in the media with the clear aim of sowing seeds of discord among coalition leaders.

“The public and the media should please disregard all these mischievous stories.”

https://punchng.com/coalition-no-decision-yet-on-adc-says-lukman/

Nigerians, I tire for Una ooo.
The 7 Trillion Naira smuggle into the budget is not their problem but Peter Obi.
They left the message of corruption issues identified by Peter Obi in the budget to attack the person who call out corruption!
I WEEP FOR NIGERIANS!

The Labour Party has held an emergency NEC meeting to resolve its leadership crisis, following a Supreme Court ruling and ongoing legal disputes within the party.

The Labour Party on Tuesday convened an extraordinary meeting of its National Executive Council (NEC) to address the lingering leadership crisis that has rocked the party since early 2023.

Opening the session, key stakeholders expressed commitment to restoring legality and internal democracy in the party’s leadership structure. The crisis escalated into a series of court cases, culminating in a Supreme Court judgment on April 4, 2025. The apex court nullified earlier decisions from lower courts and confirmed that the tenure of the Julius Abure-led National Working Committee had expired.

Participants at the meeting strongly condemned a controversial town hall event held in Anambra State on March 27, 2024, which the Abure-led faction described as a national convention. According to the Labour Party Constitution, the 2022 Electoral Act, and a 2023 Federal High Court consent judgment, the gathering did not meet the legal requirements for a valid convention or leadership election.


https://www.youtube.com/watch?v=b8ePnHLp9DI?si=EhNdcCcMh_qgsqiU

The Labour Party caucus in the House of Representatives has advised security agencies, especially the police, to stop shielding the former party chairman, Julius Abure, and his cohorts as the Attorney-General recommends Abure’s Prosecution for fraud.
The caucus leader, Hon. Afam Ogene in a statement, said the caucus have been vindicated in their allegations against Abure following recent recommendation by Attorney General over alleged crimes including criminal conspiracy, perjury, and forgery.

The federal lawmaker has consistently questioned the embattled former national LP chairman’s moral authority to lead the party, particularly following the recent Supreme Court pronouncement and numerous allegations of malfeasance against him.

The Attorney General made the recommendations for Abure’s prosecution by the Nigeria Police on March 7, 2025, according to a letter from the office of the Director of Public Prosecutions of the Federation to the Inspector General of Police. This followed a petition by the party’s governorship candidate in Ebonyi State, which was substantiated by investigations.
Both the police and the Attorney General’s office, according to a letter to the IGP, dated March 7, 2025, and signed by M.B. Abubakar, Director, Public Prosecutions of the Federation, found merit in the petition, leading to the recommendation for prosecution.
His words: “Consequently, I am directed to transmit the case file back to the Nigeria Police Force for prosecution…”

However, Hon. Ogene said that more than two months after the clear instructions of the Attorney General of the Federation for the prosecution of the accused, the Police appear to be foot-dragging in carrying out it’s constitutional responsibility.

The caucus leader lamented that “the lethargic disposition appears to be in tandem with the handling of the matter since it was instituted over three years ago.
“In fact, in a March 9, 2023, investigation report authored by Assistant Commissioner of Police, Junaid Bukar, the Police rued the fact that “some of the suspects have vehemently refused to report to exercise their right to fair hearing, despite writing them four different letters.

ment
“This in itself is an affront to constituted authority, as well as blatant disregard to law and order,” A Bukar had said.
It said an aggrieved governorship candidate in the 2023 general elections, Splendour Oko Eze, had accused Abure, Farouk Umar Ibrahim, Nkwegu Edward Okereke, and Ojukwu Clement of criminally substituting his name at the Independent National Electoral Commission (INEC), after he lawfully won the governorship primary election in Ebonyi State.

Specifically, he alleged that they forged his signature and party registration card to a purported affidavit claiming his withdrawal from the race.

Hon. Ogene stated that this development vindicates his stance that Abure’s leadership of the party was marred by corruption and unfair manipulation of internal election processes for selfish reasons and therefore, urged the Inspector General of Police to ensure that the suspects are brought to justice, to serve as a deterrent to other political leaders with similar intentions that undermine democracy.

According to the lawmaker the document was very explicit in paragraph 2 (i) which stated thusly: “The investigation report concludes that the four suspects conspired and participated in commiting the alleged offences, thereby establishing a prima facie case of criminal conspiracy, forgery, using as genuine a false document, giving false evidence and false declaration.”

Paragraph three of the letter also requested that they be prosecuted and a periodic report about the prosecution provided to the office of the Attorney General by the Police.

https://independent.ng/stop-shielding-abure-his-cohorts-lp-caucus-advises-police/

Labour Party Youth Leader Faults INEC's Delay In Enforcing Supreme Court’s Judgment

https://nairaland.moviesx.org/8429041/labour-party-youth-leader-faults

Abia State Labour Party leader and youth advocate, Mr. Nwabueze Onwuneme, has condemned the Independent National Electoral Commission (INEC) for its refusal to implement the Supreme Court’s ruling that nullified Julius Abure’s chairmanship of the Labour Party.

Onwuneme urged INEC to immediately enforce the apex court’s judgment.

He noted that Abia State Governor, Mr. Alex Otti, submitted a Certified True Copy (CTC) of the ruling to INEC more than three weeks ago, yet no action has been taken.

He expressed concern over the ongoing confusion within the party, highlighting Lagos State where remain unsure which faction’s candidates to present ahead of local government elections.

“INEC must not fold its arms. The commission must act swiftly to uphold the court’s decision and restore order within the party,” Onwuneme stressed.

The youth leader stressed that obedience to the rule of law is the foundation of any functioning democracy, warning that selective compliance with court decisions undermines public confidence in the justice system.

“When a judgment of the Supreme Court is ignored, it sets a dangerous precedent and weakens the authority of the judiciary,” he said.

He further noted that INEC, as a statutory body, is duty-bound to uphold the Constitution and decisions of superior courts. Failure to do so, he warned, could fuel impunity and internal anarchy within political parties, eroding democratic norms and threatening electoral integrity.

“INEC cannot afford to appear complicit or indifferent. The Supreme Court is the final arbiter in legal disputes, and its decisions must be implemented fully and without delay,” Onwuneme added.

His comments came after Abure’s recent threats at what Onwuneme described as an “illegal stakeholders meeting” at the Labour Party’s national secretariat in Utako.

At the meeting, Abure warned that Peter Obi and Governor Otti would “smell like rotten eggs” if he revealed damaging details about the party’s campaign funds.

Onwuneme responded by calling Abure “an impostor” who shows blatant disregard for the judiciary and the Supreme Court ruling.

“In any other country, he would be jailed for contempt of court. He is morally unfit to criticize anyone,” he said.

He further described Abure as “a general without troops,” whose only political survival tactic is to attack respected figures like Peter Obi and Governor Otti, both known for their public service records.

Onwuneme challenged Abure to substantiate his claims with facts rather than resorting to threats, and reiterated his call for INEC to enforce the court’s ruling and end Abure’s “theatrical gimmicks.”

https://www.thisdaylive.com/index.php/2025/05/18/labour-party-youth-leader-faults-inecs-delay-in-enforcing-supreme-courts-judgment/?amp

Labour Party Leadership Tussle: Is Nigeria drifting to one Party state?.

Lagos LG Election: Three LP Factions Invite LASIEC To Monitor Primaries.

The chairman of the Lagos State Independent Electoral Commission, Justice Bola Okikiolu-Ighile (retd.), has said that there are three factions of the Labour Party in Lagos.

She made this known during a stakeholders forum in Ikeja on Thursday.

She said three factions of the party invited LASIEC to observe their primaries in respect to the July 12 local government elections in the state.

“Three factions of the Labour Party in Lagos invited us to observe their primaries,” the chairman said.

According to her, LASIEC officials did not honour the invitation due to the perceived division in the party.

Ighile said the state electoral body would be waiting for the advice of the Independent National Electoral Commission on the next step in the development of the LP.

https://nairaland.moviesx.org/8427132/lagos-lg-election-three-lp

Is Nigeria drifting to one Party state?

The chairman of the Lagos State Independent Electoral Commission, Justice Bola Okikiolu-Ighile (retd.), has said that there are three factions of the Labour Party in Lagos.

She made this known during a stakeholders forum in Ikeja on Thursday.

She said three factions of the party invited LASIEC to observe their primaries in respect to the July 12 local government elections in the state.

“Three factions of the Labour Party in Lagos invited us to observe their primaries,” the chairman said.

According to her, LASIEC officials did not honour the invitation due to the perceived division in the party.

Ighile said the state electoral body would be waiting for the advice of the Independent National Electoral Commission on the next step in the development of the LP.

https://punchng.com/just-in-lagos-lg-election-three-lp-factions-invite-lasiec-to-monitor-primaries/

ERockson:
Now I know after Tinubu, Wike is the most powerful politician in Nigeria

Didn't you watch the video where Wike said he is bigger than Tinubu.
"He said who is Tinubu other than me"
Video here:
https://www.facebook.com/share/v/18yd3bdSFf/

Lifestylecom:

https://www.youtube.com/watch?v=ZLTZb5muPSY

Alex Otti, Governor of Abia State said Not everyone must be in the APC; this is a democracy, and sometimes you must stand for something. I can't say I wouldn't leave the Labour Party; what if the party is non-existent tomorrow? As of now, we have fought for and retrieved the Labour Party; all Abure is doing is posturing.

I pity those Aspirant who has already paid to Abure for Anambra & FCT elections. Their money do enter voicemail oooo

I don't know who is deceiving Abure & urging him on even after the supreme court has asked him to go

The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has warned that Nigeria is facing a deeper economic regression than many realise, stating that with a current GDP per capita of just $824, Nigerians are significantly worse off than they were at independence in 1960.

President of the African Development Bank (AfDB), Akinwumi Adesina, has expressed deep concern over Nigeria’s economic growth, describing it as anaemic.

He noted that the country’s Gross Domestic Product (GDP) per capita plummeted from $1,847 at independence to $824 in 2024, a staggering decline that puts its economic future at risk.

Adesina spoke while delivering a keynote address titled “Reimagining Nigeria by 2050,” delivered at the 20th Anniversary Dinner of Chapel Hill Denham.

He observed that 25 years after independence, Nigeria’s GDP per capita had declined to $868, though grew to $2,120 by 2010, it has since dropped to its lowest point in 2024.

Adesina said several factors contribute to the trend, including a lack of bold economic growth policies, frequent policy reversals, weak economic governance, poor fiscal discipline, and over-reliance on crude oil.

He pointed out that the poor quality of infrastructure, limited industrial manufacturing, and persistent currency devaluation were also major challenges.

The AfDB boss added that weak institutions, glaring disconnects in macro and fiscal policies, and stagflation with high inflation, slow growth, and high unemployment have all contributed to the nation’s economic woes.

Comparing Nigeria’s economic trajectory to that of South Korea, Adesina pointed out that the Asian nation’s GDP per capita rose from $158 in 1960 to $36,132 in 2024, 43 times that of Nigeria.

He attributed South Korea’s success to its domestic savings pool, which boosted economic growth, revealing that Nigeria’s pension fund size is only $13 billion compared to South Korea’s $830 billion.

According to him, the stark contrast indicates the vast difference in economic outcomes between the two countries.

Adesina emphasised that Nigeria belongs to the developed League of Nations and must power itself to become a developed country in the next 25 years.

He stressed the need for a mindset change, shifting from accepting underdevelopment as a reality to fast-tracking wealth-creating growth for its population.

Adesina said anything short of this goal is unacceptable, stating that Nigeria must take bold steps to ensure its economic future is bright.

He, therefore, outlined a comprehensive blueprint for the country’s transformation by 2050, which centred around five critical priorities.

According to Adesina, universal access to reliable and affordable electricity is non-negotiable, requiring substantial private sector investment in the energy sector through cost-reflective tariffs, transparent power purchase agreements, and blended finance initiatives.

He urged Nigeria to participate in the AfDB and World Bank’s Mission 300 to accelerate electrification efforts.

Adesina emphasised the need for world-class infrastructure, including transportation networks, digital connectivity, and essential social infrastructure, to attract investment and enhance competitiveness within the African Continental Free Trade Area.

He called for the strategic deployment of pension and sovereign wealth funds into infrastructure, alongside innovative financing mechanisms, and the deepening of local capital markets.

To ignite industrialisation, Adesina stressed the importance of building a strong and competitive industrial manufacturing sector, mirroring the success of Asian powerhouses like South Korea, Malaysia, and Vietnam.

https://guardian.ng/news/adesina-decries-nigerias-gdp-decline-poor-fiscal-discipline/