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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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Politics

APC Postpones House of Representatives Primary to Saturday

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The All Progressives Congress (APC) has postponed its House of Representatives primary election for the 2027 General Elections to Saturday, May 16, 2026.

In a press statement issued on Thursday, the party said the adjustment affects only the House of Representatives primary, while the dates for other primaries remain unchanged.

According to the new timetable released by the APC:

  • House of Representatives Primary: Saturday, 16th May, 2026
  • Senate Primary: Monday, 18th May, 2026
  • State House of Assembly Primary: Wednesday, 20th May, 2026
  • Governorship Primary: Thursday, 21st May, 2026
  • Presidential Primary: Saturday, 23rd May, 2026

The party assured stakeholders that the shift was necessary and that all other arrangements for the primaries would proceed as planned.

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Makinde to declare presidential ambition on Thursday

The event, tagged “Unity Mega Rally Ibadan 2026”, is expected to serve as the official launch of Governor Makinde’s anticipated 2027 presidential bid, alongside the unveiling of a grand political alliance between the Peoples Democratic Party (PDP) and the Allied Peoples’ Movement (APM)…

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Governor Seyi Makinde is expected to formally declare his presidential ambition on Thursday, 14 May, during a major political rally scheduled to hold at the historic Mapo Hall in Ibadan.

The event, tagged “Unity Mega Rally Ibadan 2026”, is expected to serve as the official launch of Governor Makinde’s anticipated 2027 presidential bid, alongside the unveiling of a grand political alliance between the Peoples Democratic Party (PDP) and the Allied Peoples’ Movement (APM), as well as candidates aligned with the emerging coalition being championed by the Oyo State governor and his loyalists.

Reports indicate that preparations for the rally have intensified amid growing political realignments within Oyo State and the wider South-West region.

Several grassroots mobilisers, political associates and loyalists of Governor Makinde are reportedly making strategic moves as consultations over a broader political structure continue to gather momentum.

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APC Warns Aspirants Against Violence, Anti-Party Activities Ahead of Primaries

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The All Progressives Congress National Chairman, Professor Nentawe Yilwatda, has urged all aspirants contesting on the platform of the party to maintain discipline, maturity, and sportsmanship ahead of the 2027 party primaries.

In a statement, Yilwatda said that the APC remains committed to conducting transparent, peaceful, and credible primaries capable of strengthening internal democracy and sustaining public confidence in the ruling party.

Yilwatda warned that the party leadership would not tolerate acts capable of disrupting the primaries, including violence, unrest, anti-party activities, or attempts to compromise the integrity of the process.

He stressed that any aspirant or supporter found culpable would face severe sanctions, including suspension from the party, adding that no personal ambition should override the collective interest of the APC and national stability.

The APC chairman reminded aspirants that democratic contests naturally produce winners and non-winners, urging all contestants to accept the outcome of the primaries in good faith.

According to him, democracy thrives on healthy competition, mutual respect, and acceptance of results, while aspirants must see themselves as ambassadors of the party whose conduct should reflect the values and vision of the APC.

He also commended President Bola Ahmed Tinubu for his commitment to strengthening democratic institutions and promoting unity within the party, and called on party members and stakeholders to support the President’s Renewed Hope Agenda and avoid divisive actions capable of overheating the political environment or undermining progress already recorded by the administration.

Highlighting achievements of the Tinubu administration, the APC chairman pointed to ongoing investments in road infrastructure, rail transportation, energy, agriculture, healthcare, technology, and the solid minerals sector.

He noted that the administration’s reforms are aimed at repositioning Nigeria for long-term economic growth, job creation, food security, and the attainment of a one trillion dollar economy through strategic investments and industrial expansion.

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