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
Police Summons Sowore, Arrives Force Headquarters with Travel Bag, Toothpaste, and Soap

Omoyele Sowore has appeared at the Nigeria Police Force Headquarters on Wednesday, carrying a travel bag filled with personal items, including soap, toothpaste, clothing, and books, in response to a police summons.
The appearance follows a letter dated August 5 from the Inspector General of Police Monitoring Unit, inviting Sowore for questioning over a petition alleging forgery and criminal defamation.
A day prior, Sowore publicly pledged to honour the summons and urged fellow activists and supporters to accompany him. He arrived at the police headquarters at approximately 12:16 p.m., flanked by his legal representatives, A.K. Musa and Marshal Abubakar, and a group of supporters chanting protest songs critical of the government and the Inspector General of Police, Kayode Egbetokun.
The travel bag, visibly packed with essentials, was seen as a symbolic gesture indicating that Sowore was prepared for the possibility of detention.
Health
You will drink ‘shit water’ if you dig borehole in Lekki – Perm. Sec.

The Lagos State Government has expressed serious concerns over the quality of water consumed by residents in the Lekki area, warning that those relying on boreholes could be drinking contaminated water.
At a recent stakeholders’ meeting, Mahmood Adegbite, the Permanent Secretary of the Office of Drainage Services and Water Resources, sounded the alarm over the potential health risks posed by untreated wastewater seeping into underground water sources.
“Everyone digging boreholes within the Lekki axis is probably drinking what I will call ‘shit water,’” Adegbite stated bluntly.
He explained that the government has plans in place to address the issue by expanding wastewater treatment efforts in the area. “If we are able to treat all the wastewater within this axis, we should be able to eradicate any form of disease that might result from non-treatment,” he added.
Adegbite also touched on the ongoing problem of flooding in Lagos, acknowledging that despite significant investment in drainage infrastructure, more work remains.
“Yesterday, it rained heavily, which is unusual because this is supposed to be August break,” he said. “We started having it because of a lot of complex issues. Despite the fact that we have committed so much, we still need to do a lot more in that space.”
The remarks underscore the growing environmental and public health challenges in Lekki, one of Lagos’s rapidly developing urban corridors.
News
JUST IN: Kano Commissioner For Transportation Resigns Over Drug Allegations

The Kano State Commissioner for Transportation, Ibrahim Namadi has resigned from his position following an allegation of his involvement in the controversial bail of a suspected drug baron, Sulaiman Danwawu.
According to reports, his resignation is coming just hours after the governor of the state, Abba Yusuf received the report of an investigative committee set up to probe his involvement in the deal.
In a statement signed by the Governor’s spokesperson, Sunusi Bature, the Commissioner explained that his decision to resign was made in the overriding public interest and in the light of sensitive nature of the matter.
The Governor while accepting the resignation letter stressed the need for all political appointees to always reason with caution on sensitive matters and obtain permission from the higher authority anytime they are about to engage themselves on issues of public interest.
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