Politics

Obasanjo: Democracy has been reduced to monetocracy

“Nations like Nigeria, Egypt, Ethiopia, the Democratic Republic of Congo, and South Africa ought to be leading the continent’s development charge given their demographic, resource, or economic strengths. Instead, these countries have continued to record retarded growth.”

Published

9 months ago

June 27, 2025

OCHEFA

496 Views

Former President Olusegun Obasanjo says that democracy on the African continent is being reduced to ‘monetocracy’, a system where money determines leadership .

Obasanjo spoke on the state of the continent during the 32nd annual general meeting of Afreximbank in Abuja, yesterday.

Obasanjo criticised the winner-takes-all mentality that leaves opposition parties disenfranchised and democratic processes hollow.

Obasanjo: Time to roar is now, Africa’s sleeping giants must drive own growth By : Helen Oji Date: 27 Jun 2025Share :ObasanjoObasanjoFormer President Olusegun Obasanjo has blamed Africa’s over reliance on foreign aid, poor leadership, corruption, and a flawed democratic system for the continent’s lack of progress.Speaking on the state of the continent at the 32nd Annual Meeting of Afreximbank in Abuja yesterday,

Obasanjo said that Africa’s so-called ‘lions’, its most populous and resource-rich countries have failed to achieve meaningful growth weighed down by systemic inefficiencies and misguided governance.

” Nations like Nigeria, Egypt, Ethiopia, the Democratic Republic of Congo, and South Africa ought to be leading the continent’s development charge given their demographic, resource, or economic strengths. Instead, these countries have continued to record retarded growth.”

While Egypt has made notable progress, he lamented that the others have either regressed or stagnated over the past three decades, often taking two steps forward and one step back.

He described these nations as ‘lions’ that are not moving economically or politically enough to uplift smaller or less endowed African states.

He argued that Nigeria, in particular has immense potential but remains shackled by corruption, ignorance, and a persistent dependence on foreign assistance.

Related Topics:Featured Olusegun Obasanjo Olusegun Obasanjo at Afreximbank 32nd AGM

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Politics

Onyejeocha resigns as Minister of State for Labour

Onyejeocha expressed profound gratitude to President Bola Tinubu for the opportunity to serve under his administration’s Renewed Hope Agenda.

Published

2 days ago

April 4, 2026

OCHEFA

20 Views

Nkeiruka Onyejeocha has formally resignedas Honourable Minister of State for Labour and Employment.

” As one chapter closes, another opens,” Onyejeocha wrote on her X handle on Friday,, reaffirming her commitment to service, progress, and nation-building.

Onyejeocha expressed profound gratitude to President Bola Tinubu for the opportunity to serve under his administration’s Renewed Hope Agenda.

In the letter, she also thanked the Federal Ministry of Labour and Employment, including the Honourable Minister, Permanent Secretary, directors, and staff, for their dedication and partnership in advancing workers’ rights, promoting workplace safety, and expanding employment opportunities.

Onyejeocha extended her appreciation to the people of Isuikwuato/Umunneochi Federal Constituency, describing them as her inspiration and strength throughout her tenure.

Politics

No force can defeat Tinubu in 2027 –Umahi

Umahi made the declaration on Friday while opening the completed 15 kilometres section of the Enugu-Onitsha expressway.

Published

2 days ago

April 4, 2026

OCHEFA

23 Views

The Minister of Works, David Umahi, has predicted victory for President Bola Ahmed Tinubu in next year’s presidential election asserting, ” No force can defeat Tinubu in 2027.”

Umahi made the declaration on Friday while opening the completed 15 kilometres section of the Enugu-Onitsha expressway.

He emphasised that president Tinubu has done extremely well and will be re-elected at the poll despite the coming together of the opposition elements.

He said that the president inherited a bad economy, which he is fixing, especially the micro economy and that the macro economy of the nation was breathing very well under his administration.

“When you talk about fuel economy and so on and so forth, a strategic meeting was held yesterday on how to handle the unfortunate incident of the Iran war, which has brought hardship on our people, so, the president is not asleep on this,” he said.

He urged the people of South-East to be strategic and support Tinubu’s re-election as according to him, the president has done so much for the zone more than any other administration in the county.

Politics

Labour Party to hold presidential primary April 28

The notice is contained in a letter to the Independent National Electoral Commission (INEC), signed by the Interim National Chairman of the Labour Party, Sen. Nenadi Usman and released to newsmen on Friday in Abuja.

Published

2 days ago

April 4, 2026

OCHEFA

23 Views

The Labour Party has notified the INEC that it will hold its Presidential primary on April 28, State congresses for April 25, Local Government Area and Ward congresses for April 24 and April 23, respectively.

Usman said that the letter is to notify the Commission of the approved schedule of activities for the Labour Party 2026 Elective Ward, Local Government Area (LGA), and State Congresses, as well as the National Convention.

She said that the letter was in pursuant to the provisions of Section 82(1) of the Electoral Act, 2022 (as amended);

The INEC Regulations and Guidelines for Political Parties, and Section 223(1) and (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

The interim national chairman said that the section mandated political parties to duly inform the commission of their congresses, conventions, and meetings.