Speaker Obasa Celebrates Nigeria-China Strategic Partnership at China’s 76th Anniversary

Speaker of the Lagos State House of Assembly, Rt. Hon. Dr. Mudashiru Ajayi Obasa, joined dignitaries across the Diplomatic Corps, Government, Corporate Nigeria, and Industries to celebrate the People’s Republic of China’s 76th anniversary at a colourful celebration held in the Grand Ballroom of the Oriental Hotel, Victoria Island, Lagos, on Monday, September 22.

In his keynote speech on the ‘Nigeria-China Comprehensive Strategic Partnership’, Speaker Obasa extended heartfelt congratulations to the government and people of China on the historic milestone and toasted to stronger ties between the two nations, which share October 1st as their Independence Day.

He traced Nigeria and China’s strong and enduring partnership to the establishment of diplomatic ties in 1971, and commended their treatment of each other as equals and with mutual respect. According to him, the relationship between the two countries has withstood the tumults of international changes, but mutual trust has been enhanced continuously while practical cooperation has yielded fruitful outcomes.

He cited a recent media report credited to the Consul General of China in Lagos, Yan Yuqing, who said that bilateral trade between China and Nigeria reached $15.48 billion between January and July 2025. The Speaker also referenced the renewal of a 15 billion Yuan ($2 billion) currency swap agreement, which is expected to strengthen cooperation and promote bilateral trade and investment between both countries, and streamline trade transactions by eliminating the need for US dollars as an intermediary currency.

Not forgetting also, the Speaker continued, the upgraded military partnership between the two countries, with China focusing on local arms production and military training as part of efforts to improve security in Nigeria and across Africa, which he said is already bearing fruit.

He linked these significant outcomes to the resolutions reached during President Bola Ahmed Tinubu’s State Visit in September 2024, to China and to attend the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), principal of which is a Comprehensive Strategic Partnership which primary focus is to build a high-level China-Nigeria Community with a shared future, underpinned by strategic mutual trust and support for core interests, including sovereignty and territorial integrity.

“During the visit, President Xi Jinping and President Tinubu had a cordial and in-depth exchange on China-Nigeria relations as well as international and regional issues of mutual interest, Obasa recalled, adding, “The two Presidents agreed that both countries stood at a new historical starting point as significant representatives of major developing countries and emerging economies. And they resolved that their strengthened strategic cooperation will propel a new dynamic for China-Africa relations in the new era.”

Particularly, Speaker Obasa praised China’s support for the Renewed Hope Agenda of President Tinubu, which promotes economic development and improves people’s welfare, while maintaining national unity, social stability, security, and peace.

He also highlighted China’s contributions to infrastructure projects in Lagos, saying, “Lagos has witnessed remarkable growth through significant Chinese investments in the development of critical infrastructure such as roads, bridges, and rail systems, which have enhanced our economic landscape and enriched our societies.”

Obasa called for continued collaboration to address global challenges like climate change and economic inequality and expressed confidence in a shared prosperous future.

In her welcome address, Yuqing, the Chinese Consul General, said that the increase in trade volume reflected the growing strength of China-Nigeria relations, describing Nigeria as China’s second-largest trading partner in Africa. Yuqing corroborated Obasa’s declaration that the elevation of relations between both countries to a comprehensive strategic partnership at the 2024 Forum on China-Africa Cooperation (FOCAC) summit had created broader prospects for cooperation.

According to her, collaborations in infrastructure, energy resources, trade, culture, and education continue to deepen while bringing tangible benefits to the citizens of both nations. “Nigeria and China, guided by the principles of mutual respect and mutual benefit, and all-round cooperation, have yielded remarkable results,” she said.

Yuqing also commended the Chinese community in Nigeria for contributing to cultural exchanges, local development, and charity initiatives, urging them to remain bridge-builders in strengthening China-Nigeria friendship.

When History Repeats: How Nigeria’s Wealth Was Looted by Leaders Who Should Have Protected It.

By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com

“Every government since independence has looted us; from DICTATORS to DEMOCRATS; same story, same stealing. Our oil wealth built their empires abroad, the POVERTY of MILLIONS is the WEALTH of a FEW. Nigeria’s CURSE is not OIL, it is CORRUPT LEADERS.”

Nigeria’s Endless Looting Cycle: Nigeria is a land rich in resources but poor in accountability. Oil gushes, gas flares, taxes are collected – but the benefits vanish into private bank accounts and foreign mansions. The greatest betrayal is not the lack of resources, but the deliberate theft of national wealth by those sworn to defend it. From military dictators to civilian presidents, Nigeria’s wealth has been buried in family accounts while citizens are left with BROKEN ROADS, DECAYED SCHOOLS and FRAGILE HOSPITALS.

The Looters by Name:

General Ibrahim Babangida (1985–1993)
IBB presided over Nigeria during the Gulf War oil boom of 1991. Nigeria earned $12.4 billion, but no one can account for it. Till today, Nigerians ask: “Where is the $12 billion?” Babangida’s fortune and the opulence of his Minna Hilltop mansion are symbols of a wealth gap carved by looted oil receipts.

General Sani Abacha (1993–1998)
The most infamous kleptocrat in Nigerian history. Abacha looted between $2.4 and $5 billion. Swiss, U.S. and British courts have frozen and returned billions over the years. In 2022, the U.S. repatriated another $23 million, proof that his theft still haunts us. His family treated the treasury as a personal vault.

“The Abacha loot is not history; it is an open wound still bleeding Nigeria.”

Olusegun Obasanjo (1999–2007)
Celebrated for bringing democracy, condemned for waste. Obasanjo’s $16 billion power sector scandal remains the most expensive blackout in history. His privatization program, which sold state assets like NITEL and ALSCON, was riddled with allegations of favoritism.

Goodluck Jonathan (2010–2015)
Jonathan’s presidency saw Nigeria’s highest oil revenues, yet little trickled down. Then-CBN Governor Sanusi Lamido Sanusi exposed $20 billion missing from NNPC accounts. Instead of answers, he was sacked. The notorious OPL 245 Malabu deal also belongs to this era, with over $1.1 billion diverted from national coffers to private pockets.

Diezani Alison-Madueke (2010–2015)
As Petroleum Minister, Diezani wielded immense power. Today, she faces charges of massive corruption. In 2025, the U.S. returned $52.88 million linked to her; luxury homes, cars, even a yacht. For many Nigerians, she symbolizes how a single official can treat an entire ministry as a personal empire.

Muhammadu Buhari (2015–2023)
Buhari promised to fight corruption. Instead, scandals multiplied. The N81 billion NDDC scandal, the arms procurement diversion under Sambo Dasuki and misuse of COVID-19 relief funds showed that corruption did not stop; it adapted. Buhari’s silence on many scandals raised questions about whether his “WAR ON CORRUPTION” was selective.

Bola Ahmed Tinubu (2023–Present)
Tinubu’s presidency is young, but allegations are not. From the $460,000 U.S. drug-related forfeiture in the 1990s to the controversial ₦10 billion solar panel project at Aso Rock, Tinubu faces credibility questions. While no conviction stands against him, the perception of opacity undermines his leadership.

The Real Cost of Looting.

Poverty: 87 million Nigerians live below the poverty line. That is almost half the population.

Infrastructure Gap: Nigeria needs $100 billion annually to fix roads, power and hospitals, these are money stolen many times over.

Debt Burden: External debt has soared beyond $42 billion, while stolen wealth sits in London mansions and Swiss vaults.

Erosion of Trust: Citizens see government not as a provider but as a predator. Voter apathy, tax evasion and unrest are inevitable.

“The trouble with Nigeria is simply and squarely a failure of leadership.” ~ Chinua Achebe

“Corruption is dangerous and can kill a nation.” ~ Ngozi Okonjo-Iweala

“Nations fail because extractive elites steal resources and prevent growth for the many.” ~ Daron Acemoglu

Timeline of Looted Wealth

1991: Babangida’s Gulf War oil windfall of $12.4 billion disappears.

1993–1998: Abacha loots billions; recovery continues 25 years later.

2005: Gov. Diepreye Alamieyeseigha impeached and later convicted for money laundering.

2012: Sanusi Lamido Sanusi reveals $20 billion missing oil revenue under Jonathan.

2015–2023: Buhari’s government rocked by NDDC and arms procurement scandals.

2025: U.S. returns $52.88 million linked to Diezani Alison-Madueke.

The Way Forward.
Name and Shame: No more sacred cows. Every looter must be documented in public record.

Independent Anti-Corruption Courts: Trials should not drag for decades. Swift justice must replace endless adjournments.

Ring-fence Recovered Funds: All recovered loot should be used for schools, hospitals and infrastructure, not recycled into fresh corruption.

Transparency in Oil & Gas: Every contract, license and payment must be made public.

International Cooperation: Banks in London, Zurich and Dubai must stop shielding looted Nigerian money.

Citizen Power: Nigerians must rise. CORRUPTION THRIVES NOT IN ASO ROCK ALONE, BUT IN THE SILENCE OF THOSE WHO SUFFER.

The Final Reckoning: From Abacha to Tinubu, looting has defined leadership. The cost is not abstract. It is the child who dies in a hospital without medicine, the graduate roaming the streets jobless, the farmer without electricity for irrigation, the mother walking 10 kilometers for clean water.

EVERY NAIRA STOLEN IS A DREAM DEFERRED. EVERY DOLLAR LOOTED IS A FUTURE DESTROYED.

If Nigeria is to rise, the era of burying wealth in family accounts must end. History has named the thieves. Now, the people must demand justice.

Adron Homes Sponsors Olojo Festival 2025, Celebrates Heritage and Tourism Development

Adron Homes and Properties Limited, one of Nigeria’s leading real estate companies, has reaffirmed its commitment to cultural preservation and community development by officially supporting the 2025 Olojo Festival themed “Tourism for Inclusive Growth with Cultural Rebirth.”

In a press conference held recently at the Palace of His Imperial Majesty, Oba Eniitan Adeyeye Ogunwusi, CFR, Ojaja II, the Ooni of Ife, highlighted the festival’s enduring significance as a symbol of Yoruba heritage and a catalyst for economic and social development.

Representing the Chairman/CEO, Aare Adetola Emmanuelking, the Managing Director of Adron Group, Mrs. Adenike Ajobo, described the Olojo Festival as “more than a cultural gathering, a living heritage that connects the Yoruba civilization to the global stage, strengthening local economies, uniting people, and inspiring generational pride.”

She noted that Adron Group’s sponsorship aligns with its mission to build communities that honour tradition while creating sustainable opportunities.

“Tourism and housing share a common purpose which connects people, places, and possibilities. At Adron, we believe that true development must respect heritage while driving progress for future generations. Supporting Olojo Festival reflects our commitment to inclusive growth and cultural rebirth,” she stated.

The Olojo Festival, recognised as one of Africa’s foremost cultural events, continues to attract international attention while reinforcing Ile-Ife’s status as the cradle of Yoruba civilization. With the support of organisations like Adron Group, the festival is expected to further project Nigeria’s culture globally, boost tourism, and inspire unity across communities.

Adron Group extended prayers for the continued reign of His Imperial Majesty, Kabiyesi Ojaja II, and expressed optimism that the 2025 Olojo Festival would be peaceful, impactful, and a beacon of pride for Yorubaland, Osun State, and Nigeria at large.