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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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BREAKING: Adeleke coasts to victory winning 19 LGs, APC’s Oyebamiji secures 11 LGs

The state’s Returning Officer, Vice-Chancellor of Federal University, Oye Ekiti, Prof. Joshua Ogunwole, is expected to make the final declaration at the INEC state collation centre in Osogbo.

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The incumbent Governor of Osun State, Ademola Adeleke, of the Accord Party, has won 19 Local Government Areas out of the 30 in the state, while his close rival, Bola Oyebamiji of the All Progressives Congress, won 11 LGs in the Saturday governorship election.

Adeleke is awaiting the official declaration from the Independent National Electoral Commission following the collation and announcement of results on Sunday.

A total of 15 political parties participated in the election, but only the Accord Party and the APC made a significant impact across the state.

The African Democratic Congress candidate, Najeem Salaam, came a distant third with 14,989 votes.

As of the time of filing the report, the state’s Returning Officer, Vice-Chancellor of Federal University, Oye Ekiti, Prof. Joshua Ogunwole, is expected to make the final declaration at the INEC state collation centre in Osogbo.

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#OsunDecides2026: Accord Party in early lead, APC trails behind

The results uploaded so far to INEC’s IReV portal, monitored by our Reporter , indicate that more than 70% of polling-unit results had been uploaded by this evening.

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Accord Party is ahead of the APC, and ADC in the 2026 Osun governorship election, although the process is still ongoing and the figures are not yet final.

The results uploaded so far to INEC’s IReV portal, monitored by our Reporter , indicate that more than 70% of polling-unit results had been uploaded by this evening.

Details soon ..

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#OsunDecides2026: Adeleke Urges Tinubu to Protect Votes During Collation

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Osun State Governor Ademola Adeleke has called on President Bola Tinubu to direct security agencies to safeguard the integrity of the electoral process as collation of results from Saturday’s governorship election gets underway.

In a post on X on Saturday evening, Adeleke expressed concern over reports of alleged attempts by some politicians to disrupt or hijack collation centres across the state.

Addressing the President, he said: “It is imperative that you use your good office to issue a clear warning to the heads of security agencies deployed to protect the good people of Osun State and safeguard the integrity of the electoral process.”

He described the reported attempts as “deeply concerning and unacceptable,” especially given the large number of security personnel deployed for the election.

Adeleke urged Tinubu to reaffirm his commitment that the votes of Osun residents would count and that the final outcome would reflect their genuine choice.

“I therefore implore you to reiterate the commitment made to the people of Osun State that their votes will count and that the outcome of this election will reflect their genuine choice,” he stated.

The governor specifically called on the Nigeria Police Force, Department of State Services (DSS), Nigerian Army, Nigeria Security and Civil Defence Corps (NSCDC) and other security agencies to strictly adhere to the directive. He also urged that the Independent National Electoral Commission (INEC) be given every necessary support to conclude the process and deliver a credible and transparent outcome.

“The people of Osun State have spoken with one voice, and their voices must be heard. Their votes must be protected, and their mandate must be respected,” Adeleke added.

He earlier commended voters for turning out in large numbers despite challenges and urged security agencies to remain vigilant as results move from polling units to wards and local government areas. He also called on INEC to uphold the highest standards of integrity throughout the collation process and appealed to residents to remain peaceful and law-abiding.

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