News
Moghalu says economy better under PDP, presidency faults claim
The Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, and a former Deputy Governor, Central Bank of Nigeria, Kingsley Moghalu, on Wednesday, traded blame on the state of the nation’s economy under the administrations of the ruling All Progressives Congress and opposition Peoples Democratic Party.
Moghalu had claimed in a series of tweets via his X handle on Wednesday that the nation’s economic state, which had experienced a downward trajectory in the past 40 years, only saw the light of the day “briefly” under the administration of former President Olusegun Obasanjo.
Moghalu added that the improved economy was also observed during subsequent PDP-led governments of the late Umaru Yar’Adua, and Goodluck Jonathan.
The former CBN deputy governor, who served from 2009 to 2014, added that from 2015 till date, Nigeria has fallen under a “completely incompetent economic management.”
The tweet read, “Nigeria’s economic distress is simply part of a 40-year downward trajectory that was broken only briefly by the Obasanjo civilian presidency and to some degree under Yar’Adua/Jonathan (up to mid-2014). Ever since, especially from 2015, we fell under completely incompetent economic management and have not recovered.”
The political economist called on the Federal Government to lay a “real foundation for longer-term economic transformation,” while stating that “80% of Nigeria’s exports in 2023 was oil tells you we have yet to get serious..”
Moghalu noted that the presidential palliatives initiative is not a good economic tool to curb poverty, and consequently improve wealth distribution.
“Palliatives (just google the dictionary definition of the word) will never reverse poverty. Wealth is positively created,” he stated.
Moghalu, a former presidential candidate of the Young Progressives, also criticised the appointments of the nation’s economic management team, stating, “Real economic thinking is not happening, so economic transformation can’t follow. Like it or not, individuals in certain positions matter. Sanusi and Ngozi Okonjo-Iweala made a huge difference in their roles. That’s because they had capacity. Their appointments went above politics of cronyism. The results, which is what matters more than sound and fury at the end of the day, followed.”
The tweet concluded, “May we recover one day. Like it or not, appointments have real consequences.”
Reacting to the tweets later in the day, President Bola Tinubu’s aide, Ajayi, admitted that the Obasanjo-led administration from 1999-2007 truly paved the way for some economic reforms, yet “Nigeria didn’t see any progress in infrastructural development” that would have a “direct bearing on the quality of life.”
Ajayi wondered how Moghalu and some others claimed that their era in government was the “golden era of competence” in the nation’s economic management.
Ajayi lamented how Moghalu and his former principal, Sanusi, at the CBN, couldn’t explain the whereabouts of the missing $20 billion in oil revenue, adding that “hundreds of millions of dollars were looted under various guises yet Moghalu wants us to believe that that period was the gold standard in economic management in Nigeria.”
“That period till 2015 was a period of trillions of unpaid salary and pension arrears. A period when contractors were owed hundreds of billions with thousands of abandoned and uncompleted projects,” Ajayi stated.
The presidential aide also noted that since 2015, the nation enjoyed key reforms and changes under the ruling APC government, part of which were the payments of owed salaries and pensions, “massive investments in critical economic infrastructure,” and the “reconstruction of 13,000 kilometres of roads across the country out of 33,000 kilometres of Federal roads in 8 years of President Buhari.”
Ajayi claimed that during the handover of government from Jonathan to the immediate past president, Muhammadu Buhari, on May 29, 2015, Nigeria’s Gross Domestic Product “declined from 7% growth rate to 2% and Nigeria was already primed for recession which eventually happened with collapse of crude oil price.”
“It should be said too that every indices of measuring economic growth significantly declined from 2010- May 2015, a period when Moghalu was Deputy Governor at CBN,” he added.
Ajayi lamented that Nigeria’s foreign reserve dropped about 52 per cent “from the height of $60 billion to $29 billion when Moghalu was part of the ‘competent leaders’ in government and Excess Crude Account dropped from $20 billion to $2 billion at the time crude oil sold for $100 per barrel for straight 4years from 2011-2014.
“The period between 2010-2014 was when Nigeria made most money from crude oil in history yet nothing to show for it.”
News
Dr Claudiana Ibijoke, Sanwo-Olu ‘s wife clocks 59 today ; husband praises her virtues
She is a reliable partner who has used her good office as First Lady to support my role as Governor in ensuring that the dividends of democracy are delivered to millions of Lagos residents.
• Lagos State Governor, Babajide Sanwo-Olu and his wife, Dr Ibijoke Sanwo-Olu…Photo Credit: LASG
The Governor of Lagos State, Mr Babajide Sanwo-Olu, has celebrated his darling wife, Dr. Ibijoke Sanwo-Olu, on her 59th birthday.
He described her as a courageous, kind-hearted and strong pillar of support.
Dr. Ibijoke Sanwo-Olu, a medical doctor by profession, the First Lady and Chairman of the Committee of Wives of Lagos State Officials (COWLSO), clocks 59 on Thursday, January 8. Governor Sanwo-Olu, in a statement issued on Wednesday by his Special Adviser on Media and Publicity, Mr Gboyega Akosile, described the Lagos State First Lady as a caring partner, committed prayer warrior and loving wife and mother.
He said his wife of over two decades has been a dependable and reliable partner in the delivery of the THEMES+ development agenda of his administration.
“On behalf of the government and the people of Lagos State, I celebrate my darling and loving wife, trusted and reliable partner, prayer warrior and the First Lady of Lagos, Dr Claudiana Ibijoke Sanwo-Olu, on her 59th birthday.
“Ibijoke is a God-fearing woman, a good companion, and a caring and loving wife and mother. She is a passionate Christian and lover of children.
She is my dependable partner, who has complemented the roles that God has given us with all sense of dignity.
“She is a reliable partner who has used her good office as First Lady to support my role as Governor in ensuring that the dividends of democracy are delivered to millions of Lagos residents.
“On this occasion of her 59th birthday, I thank God for her life and appreciate her for all the support, time, sacrifice and contributions to the growth and development of Lagos State.
“I also use this auspicious occasion to appreciate her remarkable contributions to our family, the medical profession, Lagos State, and humanity in general.
I wish Ibijoke good health and more fruitful, prosperous and impactful years ahead.”
News
GNI FIRE: Governor Soludo Sympathises with Omatu ‘s Family
The Governor is particularly devastated by the loss of three sons of Anambra State, namely Mr. Stephen Onyeka Omatu (40), Mr. Casmir Nnabuike Omatu (39), and Mr. Collins Kenechukwu Omatu (37), brothers from the Omatu family of Uzoakwa Community in Ihiala Local Government Area.
The Governor of Anambra State, Professor Chukwuma Charles Soludo, has expressed profound condolences and deep sorrow over the devastating fire incident that occurred and claimed lives at the Great Nigeria Insurance House on Martins Street, Lagos Island, on December 24, 2025.
Governor Soludo commiserates with all families who lost loved ones in the unfortunate inferno, regretting that this catastrophic event, which transformed what should have been a joyous Christmas Eve into a night of unspeakable tragedy, has left numerous hearts heavy with griefs.
The Governor is particularly devastated by the loss of three sons of Anambra State, namely Mr. Stephen Onyeka Omatu (40), Mr. Casmir Nnabuike Omatu (39), and Mr. Collins Kenechukwu Omatu (37), brothers from the Omatu family of Uzoakwa Community in Ihiala Local Government Area.
These industrious young men, who were simply striving to earn an honest living for their families, have been taken from us in the most tragic circumstances. Their loss represents not just a family tragedy but a collective loss to Anambra State.
In the statement signed by Christian Aburime, Press Secretary to the Governor, Soludo commended the response of the Lagos State Emergency Management Agency (LASEMA), the Lagos State Fire Service, and all other emergency responders who worked tirelessly to rescue victims and contain the situation,
Soludo also advised Anambra citizens residing in Lagos and other parts of the country to always prioritise human life and personal safety over recovering property and goods in the event of a fire outbreak.
Thus, Governor Soludo wishes all affected families the strength to bear and recover from their irreplaceable losses, while praying that the souls of all the departed rest in perfect peace.
He also called on relevant authorities to conduct a thorough investigation into the cause of the fire and ensure that appropriate measures are put in place to prevent similar occurrences in the future.
Justice Emeka Nwite of the Federal High Court in Abuja has hinted that there are attempts by lawyers and litigants to influence the money laundering trial of former Attorney General Abubakar Malami scheduled to begin on 17 February.
The judge stated this after granting Malami, his son Abdulaziz, and wife Bashir Asabe, bail in the sum of N500million each.
In a stern warning shortly after delivering the ruling granting Malami and others bail, Justice Nwite said he would not take lightly any lawyer or litigant intent on ‘approaching’ him to influence the case.
He advised parties, to instead, engage the services of quality lawyers to help with their case. He threatens serious consequences for anyone who flouts his directive.
On the terms of bail for Malami and his co-defendants, the trial judge ordered that they present two sureties each who must be owners of properties, with proof, in either Maitama, Gwarimpa or Asokoro.
The defendants are also ordered to deposit their passports with the court registry, adding that travel out of the country must be by the express permission of the court.
Malami and his co-defendants will, meanwhile, remain in prison until they perfect the terms of bail. The trial is scheduled to begin on 17 February.
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