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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.”

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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.

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Niger State: Gov Bago Dissolves Cabinet

Bago assured that in a week or two, he will constitute a new cabinet, adding that he has reviewed everyone’s performance.

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Niger State Governor Mohammed Umaru Bago on Monday dissolved his cabinet during the weekly State Executive Council Meeting, warning the outgone commissioners against lobbying anyone for any position.

He ordered the Permanent Secretaries to take over affairs of the ministries pending when new commissioners will be inaugurated.

“Don’t lobby anyone, no one can lobby me. As you leave here, please hand over to the Permanent Secretaries in your ministries,” he said.

Bago assured that in a week or two, he will constitute a new cabinet, adding that he has reviewed everyone’s performance.

He said that while some performed well, others did not perform very well.

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El-Rufai: One-term presidency Not Enough

El-Rufai emphasized that four years is not enough and politicians who make such pledges often change their minds once they assume office.

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• Nasir El-Rufai

Nasir El-Rufai, a former Kaduna State Governor, says that four years is not sufficient to deliver meaningful reforms.

He, therefore, urged former Rivers State governor, Rotimi Amaechi, and his ex-Anambra State counterpart, Peter Obi, to desist from making one-term presidency pledges.

Recalled that Obi, who was the Labour Party’s presidential candidate in the 2023 election, has consistently said he would serve only one term if elected president in 2027, insisting that four years is enough to reset Nigeria.

Obi also argued that history shows purposeful leadership is defined by impact, not tenure length.

Similarly, Amaechi, a former Minister of Transportation and now a member of the African Democratic Congress, said he would be willing to serve just one term if he secures his party’s presidential ticket.

He stated that he would step down after four years to promote rotation and stability.

Reacting to these claims, El-Rufai dismissed the idea, noting that both men, having governed their respective states, should know that four years is not sufficient to deliver meaningful reforms.

“Now, on the question of people coming out and saying, I will do one term, I don’t think anyone believes that.“I don’t think it is right. You should not constitutionally give up what is yours. And frankly, as someone who has been governor for eight years, and Amaechi and Peter Obi have both been governors, they know the time it takes to make meaningful change in government.

El-Rufai emphasized that four years is not enough and politicians who make such pledges often change their minds once they assume office.

“So, I want to appeal to everyone to stop making these commitments of ‘I will do four years’ or ‘I will do eight years’, because nobody believes you,” he added.

El-Rufai also explained that his support for power shift to the South in the 2023 election stemmed from an agreement reached by leaders of the All Progressives Congress during the party’s formation.

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Anambra House of Assembly suspends Hon Bernard Udemezue ; What’s his offence?

Honourable Udemezue had accused the house of marginalising his constituency over the allocation of constituency allowances and revealed details about the allowances, which sparked controversy on the floor of the house.

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The Anambra State House of Assembly has suspended Bernard Udemezue, the member representing Ayamelum Constituency, for three months over matter bordering on misconduct.

The house took the decision after Udemezue allegedly made social media posts deemed damaging to the legislature’s image.

Honourable Udemezue had accused the house of marginalising his constituency over allocation of constituency allowances and revealed details about the allowances, which sparked controversy on the floor of the house

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