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‘I Did Not Sign $45.21m Flyover Deal with China’, Okpebholo Replies PDP

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‘I Did Not Sign $45.21m Flyover Deal with China’, Okpebholo Replies PDP

 

 

 

 

Sahara Weekly Reports That Edo State Governor-elect, Senator Monday Okpebholo, has denied ever signing any deal with the Chinese government to the tune of $45.21m for flyover bridges.

 

'I Did Not Sign $45.21m Flyover Deal with China', Okpebholo Replies PDP 

 

He, therefore assured the people of the state that he would not be another memorandum of understanding (MoU) governor like Godwin Obaseki.

 

 

Okpebholo gave the assurance weekend while reacting to an allegation by the People’s Democratic Party (PDP) that he had signed a $45.21m deal with China Exim Bank.

 

 

The senator, who gave the assurance in a statement by his media aide, Godswill Inegbe, said he would not be distracted by the outbursts of those who are ‘still licking their wounds after losing the September 21 governorship election in the state.’

 

 

Putting a lie to the write-up, Okpebholo explained that as a governor-elect, he was not in any official capacity to obtain any loan on behalf of the State.

 

 

He said: “I am rather working on how to offset the numerous loans obtained by the outgoing Gov Godwin Obaseki administration without any correlating

development.

 

Full text of the statement…

 

Re: Ahead of Inauguration: Akpakomiza signs a $45.21m MoU with a Chinese Bank to build flyovers in Benin City.

 

Their lies and mischief have no end!

 

We wish to draw the attention of the general public to the mischievous publication, which speculates that the winner of the 21st November governorship election in Edo state, Senator Monday Okpebholo, was in talks with a Chinese agency to obtain a loan of $45.21 million to execute the construction of three flyovers in Benin city.

 

 

Ordinarily, we would not have bothered to react to such distractions but since our investigation has revealed that the report was orchestrated by those still licking their wounds from the recent defeat, we are constrained to put the record straight.

 

 

The Governor-elect, Senator Monday Okpebholo, on invitation, was in the office of the Chinese Ambassador to Nigeria in Abuja when the photograph they are now sharing on the internet was taken.

 

 

The Governor-elect was not on a mission to sign any Memorandum of Understanding (MoU) with the China-Exim Bank for a loan, as dubiously claimed in the said publication.

 

 

Understandably, as Governor-elect, Senator Okpebholo is not in any official capacity to obtain any loan on behalf of the State; rather, he is working on how to offset the numerous loans obtained by the outgoing administration without any correlating development.

 

 

The Governor-elect, being a realist, will not build his administration on MoUs, and neither will he become another MoU Governor of Edo State.

 

 

The agents of the outgoing administration and members of the defeated PDP who are spreading false rumors about the Governor-elect should focus on the transition process, which, in any case, they are working tirelessly to truncate.

 

 

The Governor-elect will not take advice from those who have failed and mortgaged the future of the Edo people over the past seven years.

 

The Governor-elect will not be a looter of public funds as Governor of Edo state; rather, he will judiciously manage the resources that belong to Edo people to develop Edo State.

 

 

Instead of resorting to the promotion of lies and falsehoods, we expect the mischief-makers to apologize to the good people of the State while undergoing penance for their atrocities.

 

We expect them to confess their sins and seek forgiveness from the people of Edo State, whom they have traumatized financially, mentally, and otherwise in the past seven years!

 

 

E-Signed:

Godswill Inegbe,

S.A Media to Senator Monday Okpebholo,

October 27, 2024.

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Malami Cannot Wash Off His Legacy of Impunity with ADC Defection — Citizens Alliance

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Malami Cannot Wash Off His Legacy of Impunity with ADC Defection — Citizens Alliance

A civic watchdog group, the Citizens Alliance for Rule of Law and Justice (CARoLJ), has condemned former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), over his recent criticism of the Bola Tinubu administration, describing his defection from the All Progressives Congress (APC) to the African Democratic Congress (ADC) as an act of “political desperation dressed in borrowed morality”.

In a statement issued in Kaduna on Sunday and signed by the group’s president, Aminu Jallo, CARoLJ said Malami’s remarks accusing the current government of neglecting security and plunging Nigerians into poverty are not only ironic but deeply insulting to the intelligence of Nigerians who lived through “his era of constitutional vandalism and legal impunity”.

“Abubakar Malami presided over one of the darkest periods in Nigeria’s legal history. To hear him now speak of justice, equity, and national renewal is to witness a man attempting to whitewash a legacy drenched in disobedience of court orders, protection of corrupt political elites, and flagrant misuse of the instruments of state power,” Jallo said.

Malami, who served as Minister of Justice from 2015 to 2023, formally announced his defection to the ADC on Wednesday, stating that the party offers a coalition to “rescue Nigeria from collapse”. He decried insecurity and economic hardship, particularly in northern Nigeria, and accused the APC-led government of prioritising propaganda over governance.

But CARoLJ said Malami’s sudden concern for national suffering was “both cynical and dishonest,” pointing to a long record of policy failures, compromised prosecutions, and judicial sabotage while he was in office. The group questioned Malami’s moral standing to speak about national decline, given what it described as his direct role in dismantling the very institutions Nigerians now struggle to rebuild.

“Under Malami, the Federal Ministry of Justice became a political safe haven for the corrupt and a weapon against the vulnerable. He consistently ignored valid court rulings, frustrated landmark anti-corruption trials, and presided over a justice system that increasingly served the powerful at the expense of the people,” Jallo said.

The group cited the controversial 2017 reinstatement of Abdulrasheed Maina, the former chairman of the Pension Reform Task Team, as one of several cases where Malami allegedly enabled impunity. Despite being on trial for massive pension fraud, Maina was smuggled back into the civil service, reportedly with Malami’s knowledge and backing.

“Malami owes Nigerians an explanation for how a fugitive facing corruption charges was not only reinstated but promoted. That scandal alone should permanently disqualify him from any public office,” Jallo said.

CARoLJ also condemned the role Malami played in the 2022 presidential pardon granted to two convicted ex-governors — Joshua Dariye of Plateau State and Jolly Nyame of Taraba State — who were both jailed for stealing public funds. The controversial pardon was processed through Malami’s ministry and widely condemned by civil society groups.

“While honest Nigerians were imprisoned for petty theft, Malami helped secure clemency for men convicted of looting billions. He cannot now pretend to be a champion of the poor,” Jallo stated.

Beyond high-level corruption, the group alleged that Malami allowed the Economic and Financial Crimes Commission (EFCC) to become a political tool, selectively targeting opponents of the government while shielding allies and loyalists.

Under his supervision, the commission was, according to CARoLJ, “reduced to a shadow of itself — compromised, erratic, and often weaponised for vendettas”.

The group pointed to the irony of Malami’s selective justice, noting that while his ministry turned a blind eye to dubious transactions involving his allies and family, it aggressively pursued whistleblowers and activists.

“It was during Malami’s tenure that the EFCC lost its moral compass. Investigations were stalled, evidence disappeared, and known associates of the former minister were immune from scrutiny,” Jallo said.

“Malami failed to act on reports indicting senior government figures — and yet, he never hesitated to file charges against voices critical of his actions. He made a mockery of justice.”

CARoLJ further criticised the asset recovery regime under Malami’s watch, describing it as a “spectacle without substance” and alleging that billions in recovered funds were either mismanaged or mysteriously unaccounted for.

“The so-called asset recovery framework championed by Malami was a farce. Nigerians were shown figures but never the trail. There was no transparency. The process became an avenue for self-enrichment and patronage. His office operated more like a political vault than a justice ministry,” Jallo alleged.

According to the group, public suspicion around Malami’s stewardship of recovered assets only deepened when reports surfaced suggesting a sudden accumulation of unexplained wealth among his close associates — including members of his immediate family.

The group described as “morally offensive” the public displays of opulence by members of Malami’s family while the country grappled with deepening poverty.

“It is not lost on Nigerians that during Malami’s time in office, his children lived lavishly, displaying wealth that bore no proportion to any legitimate income. From luxury cars to extravagant weddings, the evidence was not just visible — it was flaunted,” Jallo said.

“One of Malami’s sons reportedly owns a multi-billion-naira event centre in Kebbi. At the height of public anger over poverty and inflation, the family flew in private jets for wedding ceremonies and flaunted exotic vehicles in Abuja. These are not just optics — they are symbols of unchecked abuse of office and unexplained wealth.

“One cannot preach reform while living off the ruins of abuse. Malami’s household became a symbol of reckless entitlement. His defection to ADC is not about rescuing Nigeria — it is about rescuing his ambitions.”

CARoLJ also recalled that several major corruption cases were either inexplicably withdrawn or bungled under Malami’s leadership, including the high-profile case involving former Minister of Petroleum, Diezani Alison-Madueke, and the controversial handling of oil contracts involving foreign interests, which led to legal defeats and settlements that cost Nigeria billions.

“Several landmark corruption cases collapsed under Malami’s watch — not for lack of evidence, but because of compromised prosecution and political interference. It was under Malami’s supervision that the government suffered repeated legal setbacks abroad, including in the P&ID arbitration case. His poor legal strategy and politicisation of sensitive files cost this country dearly,” Jallo said.

The group described Malami’s defection to the ADC as “a soft launch of his long-suspected ambition to contest the 2027 governorship election in Kebbi State,” and warned voters not to fall for what it called his “reinvention strategy”.

“Abubakar Malami’s defection to the ADC is not a patriotic move — it’s a calculated rebranding effort by a man desperate to escape the shadow of his own legacy. Nigerians must not be deceived. You cannot preside over years of constitutional sabotage, ignore court orders, protect looters, and then suddenly claim to be the face of national rescue. Malami is not joining the ADC to save Nigeria — he’s joining to save himself,” Jallo said.

Reacting directly to Malami’s call for Nigerians to “reclaim the nation” through the ADC, CARoLJ dismissed it as hypocritical.

“The Nigeria Malami claims to be rescuing is the same Nigeria he helped bleed for nearly a decade. He now talks about banditry and hardship in the North — but was silent when communities were razed in Zamfara, Kebbi, and Borno under Buhari, while he remained fixated on political consolidation,” Jallo noted.

“To the people of Kebbi: Malami heard your cries during years of banditry and silence was his only response. He cannot now claim to be your liberator.

“Nigerians must resist the ongoing attempt by disgraced political actors to hide behind new parties and forgotten slogans. True reform begins with accountability — not defection.”

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Fear and Fascism: Why Nigeria’s Ruling Class Fears the ADC Coalition

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Fear and Fascism: Why Nigeria’s Ruling Class Fears the ADC Coalition.

By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com

In a nation purportedly run under the rule of law, democratic principles and political plurality, what do we call a situation where a government becomes jittery at the mere announcement of a coalition? Where security agencies begin targeting event centres simply because opposition figures are gathering? Where fresh factions are immediately stirred within a party the coalition adopts? One word fits perfectly: TYRANNY.

The recent surge of fear and panic within the ruling All Progressives Congress (APC) over the African Democratic Congress (ADC) Coalition for Revolution is not only suspicious; it is shameful and undemocratic. The coalition is barely operational, yet the reaction from the ruling establishment has been alarmingly disproportionate. This government appears terrified; not of GUNS, not of WAR, but of UNITY. It tells us one thing: the ruling party knows its time is up.

The FRAGILE Ego of POWER.
For a party that has consistently boasted of controlling the majority of state governors, National Assembly members and even local government chairpersons, why then is the APC so rattled by a coalition of frustrated opposition elements and civil society actors? Why is the federal government deploying intimidation tactics rather than welcoming political competition as a hallmark of democracy?

Fear and Fascism: Why Nigeria’s Ruling Class Fears the ADC Coalition.
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com

In a sane and functioning democracy, opposition coalitions are celebrated as a sign of political maturity. In Nigeria, it has become a crime to think differently or organize legitimately. Even the event centre billed to host the ADC Coalition unveiling was allegedly threatened with closure by unnamed agents of the state; a pattern disturbingly reminiscent of military dictatorship.

A Government That Knows It Has Failed
This fear is not accidental. It is born from guilt, failure and the burden of unmet promises. Nigeria under the APC has become a global embarrassment. According to the National Bureau of Statistics, over 133 million Nigerians are living in multidimensional poverty. Unemployment is at a record high, with youth unemployment hovering around 53%, while inflation has crossed the 34% mark as of June 2025.

Why wouldn’t the ruling party fear a coalition when the people are angry, the economy is crashing and even their own governors are silently defecting or disassociating themselves from the party’s failures?

The recent wave of governors defecting to the ruling party is not out of loyalty or ideological alignment; it is pure political survival. These governors are seeking to avoid the EFCC knock on their gates or to secure future ambitions. Beneath these defections, the ordinary people are still suffering, and this suffering is what the ADC Coalition seeks to confront.

Manufactured Factions: A Classic APC Playbook
Immediately after the coalition adopted the ADC as its political platform, a mysterious faction emerged claiming to be the “real ADC.” Sound familiar? That is the APC’s classic destabilization strategy. In the past, we saw the same tactic used against the PDP, the Labour Party and even internal dissenters within APC itself. Once a political party shows promise or dares to stand against the status quo, the ruling party sends in their agents to create chaos, confusion and fake leadership tussles.

According to Professor Jibrin Ibrahim, a renowned political scientist and columnist, “The Nigerian political elite thrives on destabilizing alternatives. Any emerging force that can inspire the people becomes an automatic enemy of the state.”

This is not democracy. This is fascism; where government manipulates everything from the judiciary to the police and now even private venues just to hold on to power.

Fear of a United People
Perhaps what scares this government the most is not the ADC Coalition in itself, but the idea of it, the possibility of Nigerian youths, professionals, disenchanted politicians and civil society organizations standing on one platform to say “ENOUGH is ENOUGH.”

For the first time in years, the ADC Coalition is bridging the ethnic, religious and regional divides that have been used as weapons of control. The coalition is becoming a symbol of collective frustration and national unity. It is not just another political party; it is an uprising in suits and sandals.

To quote Femi Falana (SAN), a fearless human rights advocate, “You can cage people with poverty, but the day they unite, your billion naira mansion won’t save you.”

The Real Reason Behind the Crackdown
So why did the government move to frustrate the ADC Coalition unveiling? It SEES the WRITING on the WALL. It FEARS what will happen when Nigerians stop fighting each other and begin fighting back at their real oppressors. It FEARS the embarrassment of facing a coalition that is not built on rigging, godfatherism or bullion vans, but on IDEAS, INTEGRITY and COURAGE.

Just like they feared the EndSARS protesters, this government fears anything ORGANIC, POPULAR and PEOPLE-DRIVEN. They FEAR history repeating itself. They FEAR the candlelight that could start a bonfire of POLITICAL REVOLUTION.

Even more, they FEAR that the upcoming 2027 elections may no longer be business as usual.

The Hypocrisy of the APC’s Power Grab.
Let us not forget: APC itself was a coalition. It came to power in 2015 through the merger of CPC, ACN, ANPP and factions of APGA and PDP. Yet, today, they are violently allergic to coalitions. Isn’t that the height of hypocrisy?

What changed? POWER did. The APC no longer wants fair elections. They now believe in “CAPTURE and CONQUER.” They FEAR the very process that birthed them because they know they can no longer win in a FREE and FAIR contest.

Now, they have resorted to bullying, suppression and faction-planting because they know that if Nigerians are given real options, they will choose competence over corruption, empathy over empire and revolution over repression.

The Road Ahead: Power to the People.
If the ruling party thinks it can stop this revolution by sabotaging an event venue or promoting fake factions, it is grossly underestimating the anger in the land. Nigerians are not just hungry for food; they are starving for justice, governance and accountability.

Let it be known: REVOLUTIONS don’t need air-conditioned halls. They don’t need television coverage. They only need one spark and the ADC Coalition may just be that spark.

In the words of Thomas Sankara, “You cannot kill ideas. Ideas don’t die.” And no amount of intimidation, propaganda or betrayal can kill the idea that Nigeria deserves better.

Final Thought on This.
The fear exhibited by this government is a sign of WEAKNESS not STRENGTH. It is a loud confession that they have lost the people. History has shown us that when a government loses the people, its end is near.

Let the ruling elite tremble. Let their agents panic. The ADC Coalition is not their biggest problem. The Nigerian people are.

Let the REVOLUTION begin.

Written by George Omagbemi Sylvester
Published by SaharaWeeklyNG.com

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Nigerians, Are You Better Than You Were Two Years Ago?

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Nigerians, Are You Better Than You Were Two Years Ago?

Nigerians, Are You Better Than You Were Two Years Ago?

By Gbenga Shaba

In 2025, a critical question resonates across Nigeria: “Am I better off today than I was yesterday?” For the vast majority of Nigerians, this is not a rhetorical exercise but a stark, lived reality, whispered in homes fractured by hunger and screamed in the silent desperation of stalled ambitions. From the bustling arteries of Lagos to the tranquil villages of Lafia, the answer, tragically, is a resounding no. Since the return to democratic governance in 1999, despite five presidents promising a brighter dawn, each new regime seems to bring less hope and more profound hardship.

 

Nigerians, Are You Better Than You Were Two Years Ago?

 

The very essence of democracy, upon which its foundations were laid in 1999, promised something profoundly transformative: a demonstrably better life. This envisioned reality was not abstract; it meant the assurance of food on the table, consistent electricity, affordable healthcare, quality education, and jobs that could cover essential expenses and leave a little for life’s simple pleasures. Instead, Nigerians have largely received a relentless succession of economic experiments, a recurring drama surrounding fuel subsidies that consistently ends in public pain, a notoriously fragile national currency, and a poverty rate that has ballooned to alarming and unprecedented levels.

 

 

Empirical Comparisons Of Key Economic Indicators Across Administrations

Empirical comparisons of key economic indicators across administrations reveal a consistently worsening pattern for the average citizen. A single litre of petrol now commands a price that, for many, exceeds a worker’s entire daily wage. In 1999, a litre of petrol cost approximately eleven naira. In 2025, that same litre costs well over seven hundred naira, a staggering sixty-threefold increase. The Nigerian naira, once trading at a relatively stable eighty to the United States dollar in 1999, now fluctuates precariously around one thousand four hundred and fifty to one thousand five hundred naira to the dollar, according to recent figures from financial markets. This represents an almost eighteenfold depreciation. As of July 2025, the naira trades around one thousand five hundred and twenty-eight naira to the dollar in the official window.

Inflation

Inflation, a voracious and unseen predator, devours incomes with the efficiency of termites in a wooden hut, leaving behind only the husks of diminished purchasing power. While hovering in single digits in 1999, the latest figures for May 2025 indicate headline inflation hovering around twenty-two point nine seven percent, with food inflation soaring to over forty percent. This means the cost of basic food items is increasing at an almost uncontrollable rate, eroding every gain. While the national minimum wage has nominally grown tenfold since 1999, now standing at thirty thousand naira, its real value has been devastatingly eroded by the relentless march of inflation. A nominal increase means little when purchasing power is decimated.

 

The Poverty Rate

 

The poverty rate, a stark measure of human well-being, has regrettably risen again. As of the latest multidimensional poverty index report, over one hundred and thirty-three million Nigerians, representing approximately sixty-three percent of the population, are now living in multidimensional poverty, lacking access to basic services and decent living standards.

 

 

This is not merely an economic crisis that can be neatly categorized within macroeconomic models. It is a profound national trauma etched onto the faces of its citizens. The cost of essential staples like rice and garri, the burden of transport fares, the escalating burden of rent, the prohibitive expense of school fees, and even the price of a sachet of water have multiplied severalfold in a short period. An average family in Kogi or Kano, which in 2005 could budget approximately five thousand naira for a week’s meals, now requires over thirty thousand naira to feed the same household. Chillingly, for this increased expenditure, the quality and nutritional value of the food consumed is often worse, a tragic testament to compromised living standards.

 

 

The current economic strain has become an oppressive weight, crushing aspirations and fostering widespread despair. Mrs Uzo, a mother in Aba, can no longer afford life-saving asthma medication for her young son. Tunde, a bright university graduate in Lagos, precariously sells phone accessories from a wheelbarrow, his dreams of a professional career indefinitely deferred. Amina, a widowed mother in Bauchi, makes the agonizing decision to skip meals herself so her children might at least have something to eat. These are the vivid and heart-wrenching realities and the raw, personal toll of abstract numbers and economic policies.

 

 

President Olusegun Obasanjo Vs Now

Under President Olusegun Obasanjo from 1999 to 2007, the administration embarked on broad and ambitious economic reforms. A landmark achievement was the successful negotiation of eighteen billion dollars in foreign debt relief through the Paris Club, significantly unburdening the national treasury. His tenure also oversaw the crucial consolidation of Nigeria’s banking sector. Perhaps most transformative was the advent of the telecom revolution, with GSM lines expanding explosively, birthing a dynamic new middle class. Macroeconomic stability was relatively sustained, inflation was managed, and real GDP demonstrated steady growth. The national minimum wage doubled, and poverty rates fell by a commendable eleven percentage points.

 

 

President Umaru Musa Yar’Adua and President Goodluck Jonathan Vs Now

 

During the administration of President Umaru Musa Yar’Adua and President Goodluck Jonathan from 2007 to 2010, despite electoral controversy and illness, a significant achievement was the Niger Delta Amnesty Programme, which restored stability and crucial oil output. While ambitious reforms were not fully realized, the renewed focus on the rule of law offered hope. Economically, inflation rose, reaching eleven point five eight percent in 2008 and twelve point five four percent in 2009, while poverty spiked by eight percent.

 

 

From 2010 to 2015, President Goodluck Jonathan and Vice President Namadi Sambo oversaw a period when Nigeria experienced a surge in GDP growth, propelled by high global oil prices. A rebasing exercise positioned Nigeria as Africa’s largest economy. However, this impressive GDP growth did not fully translate into real prosperity for the majority, and inequality widened. The power sector privatization largely failed to deliver stable electricity, and the Occupy Nigeria movement in 2012 highlighted growing discontent over fuel subsidy removal. Despite these challenges, poverty did decline marginally, and the agricultural sector saw reforms. Youth-targeted programs like YouWin provided some relief.

 

President Muhammadu Buhari and Vice President Yemi Osinbajo Also?

 

The administration of President Muhammadu Buhari and Vice President Yemi Osinbajo from 2015 to 2023 was heralded by many as a messianic anti-corruption movement, promising sweeping changes. It recorded successes in mainstreaming social investments and other programs. Significant investments were made in infrastructure projects, and social intervention programs were implemented to alleviate poverty and unemployment. However, the initial dream of revitalization soon withered under a cascade of economic shocks. A precipitous crash in global oil prices in 2016 triggered Nigeria’s first recession in decades. By 2020, the unforeseen onslaught of the COVID-19 pandemic dealt another devastating blow, knocking the economy into yet another tailspin and marking two recessions within a single tenure. Inflation soared to unprecedented heights, becoming a daily torment for households. Jobs disappeared at an alarming rate, exacerbating an already dire unemployment crisis. The naira was devalued not once but twice over, further eroding purchasing power and making imports prohibitively expensive. The undeniable reality for the average Nigerian was one of increasing poverty, pervasive hunger, and a deepening sense of hopelessness. While the minimum wage was eventually raised to thirty thousand naira, it was swiftly outpaced by the relentless surge in food inflation and punitive fuel price hikes, rendering the increment almost immediately insufficient.

 

The last 2 years!

 

President Bola Ahmed Tinubu and Vice President Kashim Shettima came into office in 2023 on the campaign theme of Renewed Hope. However, their administration’s immediate and simultaneous removal of the fuel subsidy and floating of the naira sent seismic shockwaves through the fragile economy. Within days, transport costs tripled, and the price of a common loaf of bread skyrocketed. Many families were forced to pull their children out of school. Markets emptied, and small businesses closed in droves. The economy, already bruised, began to fracture under the pressure.

 

 

The government maintains that these drastic measures are necessary pains that will eventually lead to broader prosperity. This argument is not new, but Nigerians are profoundly tired of deferred dreams and promises of future abundance that never materialize. The pressing question remains: how long must the poor wait for the promised benefits, and how much more suffering can be endured?

 

 

True reform, the kind that genuinely uplifts a nation, fundamentally puts its people first. It is not about abstract macroeconomic numbers or accolades from multilateral financial institutions. It is, first and foremost, about the tangible impact on the lives of ordinary citizens. A truly people-oriented leadership would embody a different approach. It would push for social equity, prioritize local content development, and champion grassroots empowerment. Where the current approach removes subsidies without adequate cushioning, a people-oriented leadership would meticulously sequence reforms, implementing robust safety nets and palliative measures. Where the naira has been fully floated, a people-oriented leadership would carefully protect strategic sectors and essential commodities from volatile market forces. And crucially, where blame is cast upon the past, a people-oriented leadership would believe in co-creating the future with the people through inclusive dialogue and participatory governance.

 

 

Economic Indicators

A Declining Trajectory
Empirical comparisons of key economic indicators across administrations reveal a consistently worsening pattern for the average citizen.

 

Petrol Price: A single litre of petrol now commands a price that, for many, exceeds a worker’s entire daily wage. In 1999, a litre of petrol cost approximately eleven Naira. In 2025, that same litre costs well over seven hundred Naira, a staggering sixty-three-fold increase.

 

Exchange Rate: The Nigerian Naira, once trading at a relatively stable eighty to the United States Dollar in 1999, now fluctuates precariously around one thousand four hundred and fifty to one thousand five hundred Naira to the dollar, according to recent figures from financial markets. This represents an almost eighteen-fold depreciation. As of July 2025, the Naira trades around one thousand five hundred and twenty-eight Naira to the dollar in the official window.

 

 

Inflation: Inflation, a voracious, unseen predator, devours incomes with the efficiency of termites in a wooden hut, leaving behind only the husks of diminished purchasing power. While hovering in single digits in 1999, the latest figures for May 2025 indicate headline inflation hovering around twenty-two point nine-seven percent, with food inflation soaring to over forty percent. This means the cost of basic food items is increasing at an almost uncontrollable rate, eroding every gain.

 

 

Minimum Wage: While the national minimum wage has nominally grown tenfold since 1999, now standing at thirty thousand Naira, its real value has been devastatingly eroded by the relentless march of inflation. A nominal increase means little when purchasing power is decimated.

 

 

Poverty Rate: The poverty rate, a stark measure of human well-being, has regrettably risen again. As of the latest multidimensional poverty index report, over one hundred and thirty-three million Nigerians, representing approximately sixty-three percent of the population, are now living in multidimensional poverty, lacking access to basic services and living standards.

 

 

The difference is crystal clear. One governs with an eye on the boardroom. The other governs for the marketplace, for the common man and woman, for the struggling family. As 2025 unfolds, the fundamental question persists, demanding an answer. Ask the mechanic in Minna, the teacher in Ikare, or the tomato seller in Mile Twelve. Their answer, spoken in the language of hunger and hardship, is tragically and unambiguously the same: no, we are not better off.

 

 

Until Nigeria consistently and genuinely puts its people first, it will remain trapped in a disheartening cycle of unfulfilled promises. Genuine change is not merely about new faces in power. It is about an unwavering focus on serving the people those numbers are meant to represent and uplift. The true measure of a nation’s progress lies not in its statistical achievements but in the tangible improvement of the lives of its most vulnerable citizens. Only then can the answer to that profound question finally be a resounding and joyous yes.

 

Gbenga Shaba is a journalist and an analyst from Lagos State, Nigeria.

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