In a tragic incident, gunmen have reportedly killed three children of a native doctor in Nise community, Awka South Local Government Area, Anambra State. The harrowing event occurred on Saturday night when the assailants scaled the fence to access the residence. Reports reveal that the attackers placed the lifeless bodies of the victims inside a parked Mercedes Benz within the compound before making their escape. Confirming the incident, the spokesperson for the Anambra State Police Command, SP Tochukwu Ikenga, disclosed to journalists on Monday that a manhunt for the perpetrators was underway. He stated, “The attackers invaded the premises, murdered the children, and left their remains in a parked Mercedes Benz within the compound. Though the event took place on Saturday, we received the report late on Sunday. Investigations are ongoing to determine if the father’s negligence played a role or the motive of the culprits.” An anonymous source revealed that the children, aged between six and two years old, were found with their mouths tied. The source further claimed that the native doctor had a habit of locking his wife and children inside the house while he was away. It was also alleged that the native doctor had unresolved disputes with certain individuals, though it remains unclear if these conflicts contributed to the tragic deaths of his children. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Dr. David Oyedepo, the Chancellor of Covenant University in Ota, Ogun State, has stated that more than 90% of the university’s graduates are employable. During an interview with the News Agency of Nigeria (NAN) on Monday in Ota, Dr. Oyedepo highlighted that Covenant University consistently leads among Nigerian universities with the highest employability rate, exceeding 90%. He attributed this success to the institution’s leadership development programs, which equip students with essential leadership skills and competencies to handle future responsibilities effectively. “Our graduates are prepared with the necessary skills to provide insights and offer solutions to various national and global challenges,” he emphasized. Dr. Oyedepo further urged educational institutions to prioritize meaningful research that addresses local issues rather than relying on foreign solutions. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
The Federal High Court in Abuja has set January 13 as the date for hearing a N300 million fundamental rights enforcement suit filed by detained singer Darlington Achakpo, popularly known as Speed Darlington, against the Inspector-General (IG) of Police, Kayode Egbetokun. Justice Musa Liman scheduled the hearing after Speed Darlington’s lawyer, Abubakar Marshal, requested an adjournment to allow the IG’s counsel, Garba Audu, sufficient time to review the legal documents served during the court session. Previously, on December 23, 2024, Justice Liman ordered the IG to either charge Speed Darlington formally or release him on bail unconditionally within 48 hours. This decision was made following an ex-parte motion filed by the singer’s lawyer, David Ihuoma. The matter was initially adjourned to January 6 for the main hearing. Speed Darlington, 39, was reportedly arrested on October 4, 2024, by the police over allegations of defamation and cyberstalking against Burna Boy, a well-known musician. He was later granted bail on October 8, 2024. Human rights activist Deji Adeyanju alleged that the singer was arrested in Lagos following a petition from Burna Boy and subsequently transferred to Abuja, where he remained in detention. During the recent court session, Marshal indicated that the hearing was scheduled to address the fundamental rights enforcement case. Although Audu initially claimed not to have received the legal papers, the court confirmed through its records that the police had indeed been served. Justice Liman then directed Marshal to hand over another copy to Audu in open court. Upon inquiry from the judge about Speed Darlington’s release status, Marshal confirmed that the singer remained in detention. Audu responded that criminal charges had already been filed against the singer before his bail request, and the arraignment was delayed due to the Christmas holidays. The criminal case is now set for January 15 before Justice Ekerete Akpan. Marshal urged the court to order the singer’s release pending his formal arraignment, emphasizing the commitment to ensure his presence in court when required. Audu opposed this request but maintained that the police had not deliberately defied court orders. Justice Liman advised the police to release Speed Darlington on bail, emphasizing that there was no harm in doing so before the next court date. The court adjourned the case to January 13 for the substantive hearing. In the lawsuit marked FHC/ABJ/CS/1832/2024, Speed Darlington claims his arrest and continued detention violate his fundamental rights under the 1999 Constitution. His demands include: An affidavit by Esther Eyisi, a secretary at the representing law firm, stated that Speed Darlington was initially arrested on October 4, 2024, for defamation. He was allegedly detained for five days without formal charges and subjected to mistreatment before being released on bail. However, he was re-arrested on November 27, 2024, over accusations of breaching his administrative bail conditions, despite notifying the authorities of his medical emergency and securing permission to attend a performance in Owerri, Imo State. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Chief (Mrs) Khadijah Adebisi Edionseri, widely known as “Cash Madam,” a renowned socialite and businesswoman, has passed away at the age of 89 following a brief illness. Tribute to a Remarkable Life The announcement of her passing was made on January 5, 2025, by her child, Dr. Adebayo Adebowale, who expressed gratitude for her well-lived life. The statement highlighted her profound impact on both her family and the community. “With deep gratitude to Allah for a life well-lived, we announce the passing of our beloved mother, grandmother, and great-grandmother, Princess Kadijat Abike Adebisi Edionseri (née Elegbede). She returned to her creator on 5th January 2025 at the age of 89 following a brief illness,” the statement read. Described as a beacon of grace, dignity, and unwavering faith, Princess Edionseri was admired for her wisdom, kindness, and dedication to her community. Dr. Adebowale emphasized that her teachings on love, resilience, and faith would continue to inspire future generations. Funeral Arrangements The family has confirmed that her funeral will take place on Monday, January 6, 2025, at 4:00 pm at her residence in the Government Reserved Area (GRA) of Abeokuta, in line with Islamic funeral rites. Legacy of Philanthropy and Business Acumen Fondly referred to as “Cash Madam,” Edionseri was widely respected for her philanthropic endeavors, business success, and commitment to the socio-economic development of Egbaland and Ogun State. Condolences from Ogun State Governor Ogun State Governor, Dapo Abiodun, expressed his deep sorrow at her passing, calling it a great loss not only for the state but for Nigeria. “Her legacy as a successful entrepreneur and social figure has left an indelible mark, resonating across generations since the 1970s,” Governor Abiodun stated. He praised Edionseri’s remarkable achievements, highlighting her as an inspiration for countless individuals in Ogun State and beyond. The governor extended heartfelt condolences to her family, emphasizing that her contributions to the business community and her vibrant social presence would continue to inspire future generations of entrepreneurs and social leaders. Conclusion The passing of Chief (Mrs) Adebisi Edionseri marks the end of an era for Ogun State and Nigeria. Her enduring legacy of philanthropy, business acumen, and dedication to the community will continue to inspire generations to come. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
South Korea’s political crisis deepens as President Yoon faces insurrection charges. Protests intensify in Seoul amid heavy snow, with a looming arrest deadline. Thousands of South Koreans braved freezing snowstorms on Sunday to rally in Seoul, either supporting or opposing President Yoon Suk Yeol, who is embroiled in a political crisis. Yoon, suspended from his presidential duties, faces criminal charges of insurrection following his failed martial law bid last month. Protests Amid Snow and Political Unrest The demonstrations were sparked by Yoon’s declaration of martial law, which plunged South Korea into chaos. Yoon has been holed up in the presidential residence, surrounded by loyal security personnel, after resisting arrest during a tense six-hour standoff on Friday. Despite heavy snowfall, protesters gathered outside his residence on Sunday. One group demanded Yoon’s immediate arrest, while the other called for the invalidation of his impeachment. Lee Jin-ah, a 28-year-old anti-Yoon protester, said, “Snow is nothing for me. I quit my job to protect our country and democracy.” On the other side, 70-year-old Park Young-chul, a staunch Yoon supporter, declared, “I’ve faced worse during the war. This snow is nothing.” Legal and Political Ramifications Yoon’s arrest warrant, which expires Monday at midnight, could make him the first sitting South Korean president to be arrested. He faces charges of insurrection, a serious crime not protected by presidential immunity, with potential penalties ranging from imprisonment to the death penalty. A prosecutors’ report revealed that Yoon disregarded objections from key cabinet members, including the prime minister and foreign minister, before his failed martial law bid. The opposition Democratic Party has since called for the dissolution of the presidential security service, which has been shielding Yoon. Security service chief Park Jong-joon defended the decision, stating, “Executing an arrest warrant under questionable legal grounds undermines the mission of protecting the President’s safety.” U.S. Diplomatic Involvement As the crisis escalates, U.S. Secretary of State Antony Blinken arrived in Seoul on Sunday for scheduled talks with his South Korean counterpart, Cho Tae-yul. Blinken is expected to address the political unrest, given South Korea’s strategic importance as a U.S. ally. Conclusion South Korea remains on edge as the arrest deadline looms. Whether Yoon will face justice or further resistance will shape the nation’s political future. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
The national leadership of the Peoples Democratic Party (PDP) has expressed optimism about the party’s chances of producing more governors and reclaiming the presidency in the 2027 general elections. PDP’s Vision for 2027 During a visit to Governor Douye Diri at his residence in Sampou, Kolokuma/Opokuma Local Government Area, Bayelsa State, the PDP’s National Working Committee (NWC) shared its strategic goals for the next election cycle. Speaking on behalf of the NWC, National Treasurer Ahmed Yayare attributed the party’s confidence to the growing dissatisfaction among Nigerians due to the prevailing economic hardship under the current administration. Yayare emphasized that the PDP remains the strongest opposition party capable of challenging the ruling All Progressives Congress (APC). He warned that the failure of the PDP to reclaim national leadership could jeopardize democracy in Nigeria. “The cry of hunger and poverty is too much in the land. Nigerians are yearning for the PDP’s return to power. If we do not take over in 2027, democracy may be at risk in Nigeria,” Yayare stated. Strengthening the PDP for National Unity The NWC highlighted plans to strengthen the PDP by fostering unity among party members and rallying support across the nation. National Secretary Ude Okoye affirmed the committee’s commitment to repositioning the party and proving to Nigerians that the PDP offers a credible alternative to the current leadership. Okoye also praised Governor Diri for his exemplary leadership and developmental achievements in Bayelsa State, which he described as a model for the party’s vision. Governor Diri’s Call for Unity and Integrity In his response, Governor Douye Diri emphasized the importance of unity within the PDP, urging members to prioritize the party’s collective interest over personal ambitions. “We must work closely together as governors and party leaders. It’s essential to resolve disputes internally rather than taking issues to court. If the PDP collapses in our hands, history will not forgive us,” Diri stated. He further stressed the need for discipline within the party, calling on members to remain loyal and committed to the PDP’s ideals. Diri also expressed his support for the idea of forming a mega coalition with the PDP as a leading force to reclaim power at the center. A Shared Mission for a Stronger Future As Nigeria faces significant economic and political challenges, the PDP is positioning itself as the solution to the country’s problems. The NWC, along with its state governors, plans to tour PDP-controlled states to mobilize support and present the party as a beacon of hope for Nigerians ahead of the 2027 elections. Conclusion The Peoples Democratic Party is laying the groundwork to reclaim Nigeria’s leadership by addressing key national concerns and uniting its members. With a clear vision and a focus on strengthening its internal structure, the PDP aims to provide Nigerians with a credible alternative in 2027. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Lagos State begins enforcement of the Single-Use Plastics ban by January 2025 to combat plastic waste and environmental pollution. The Lagos State government has announced that enforcement of the ban on Single-Use Plastics (SUPs) will officially commence in two weeks. This move aims to combat the environmental challenges posed by plastic waste across the state. Ban on SUPs and Styrofoam Usage The Commissioner for the Environment and Water Resources, Tokunbo Wahab, confirmed the development during a tour of flood-prone areas and ongoing projects around Lagos Island, including the Ilubirin Waterfront and Pump Station. Wahab reiterated that the state’s earlier ban on Styrofoam and SUPs for packaging, introduced in January 2024, will now enter its enforcement phase. He emphasized that this action is part of Lagos State’s commitment to addressing the rising issues of plastic pollution, which has significantly impacted the environment. “There is no going back on a total ban of SUPs. We are having discussions on how to phase them out completely. Enforcement will begin before the end of January,” Wahab stated. Reduced Littering and Infrastructure Improvement According to Wahab, littering caused by Styrofoam and other SUPs has already decreased since the initial introduction of the ban. The enforcement phase is expected to further reduce the prevalence of plastic waste in Lagos. During his inspection of the Ilubirin Pump Station, Wahab noted the infrastructure built by Julius Berger, which includes functional drainage systems, road networks, and walkways. However, he highlighted that human negligence has clogged many of these systems, necessitating the current regeneration efforts. “The Governor has re-awarded contracts for regenerating Lagos Island’s infrastructure. This tour ensures that contractors are prepared to commence work and potentially shorten the project timeline,” he explained. Why the Ban Matters Single-Use Plastics and Styrofoam contribute significantly to environmental degradation, clogging drainage systems and causing floods in urban areas. By enforcing this ban, Lagos State is taking proactive steps to: Conclusion The Lagos State government’s enforcement of the Single-Use Plastics ban signals a critical step toward environmental sustainability. As enforcement begins, residents and businesses must adopt more eco-friendly practices to align with the state’s vision for a cleaner and greener Lagos. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Yoruba elders condemn the detention of ex-Queen Naomi Silekunola and others over the Ibadan stampede, calling it unjust and a blemish on Yoruba heritage. The Yoruba elders under the Kaaro Oojiire Omo Oodua Foundation (KOOOF) have decried the detention of former Queen Naomi Silekunola, calling it an abomination and a blemish on the Yoruba heritage. In a statement released on Monday, the group described the incident as unjust and urged the government to immediately release her and other detainees, including broadcaster Hamzat Oriyomi and Principal Abdullahi Fasasi. The Incident and Allegations Queen Naomi, formerly married to the Ooni of Ife, Oba Enitan Ogunwusi, was detained following the tragic stampede in Ibadan, which claimed the lives of 35 minors during a chaotic funfair. The detention, according to KOOOF, raises questions about the integrity of the justice system and has sparked outrage among the Yoruba community. Asiwaju Olu Mayungbe, Chairman of KOOOF, criticized the situation, stating: “It has been nearly a month since Queen Naomi has been unjustly incarcerated. This is not just a personal tragedy but a stain on the Yoruba race. While humanitarian efforts are criminalized, those directly responsible for the tragedy remain free.” A Call for Justice Mayungbe emphasized the irony of the situation, pointing out that parents who pushed their children over fences, leading to the fatal stampede, have not been held accountable. Meanwhile, those who stepped in to help have been unjustly detained. The group lamented the disregard for human rights and the rule of law, stating that such actions discourage humanitarian efforts and send a dangerous message to those seeking to help the vulnerable. Demands from the Yoruba Elders The KOOOF elders have demanded the following from the government: Conclusion The detention of Queen Naomi and other humanitarians following the Ibadan tragedy highlights deeper societal issues, including systemic injustice and economic disparity. Yoruba elders are calling for swift action to rectify the injustice and uphold the values of fairness and equity in the justice system. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Former Nigerian President Olusegun Obasanjo has highlighted the immense potential of China’s Belt and Road Initiative (BRI) in advancing intra-African trade and infrastructure development. Speaking in an interview with Xinhua, Obasanjo emphasized that Africa stands to benefit significantly from the strategic cooperation offered through China’s global initiative. Reflecting on his recent visit to China in October 2024, Obasanjo admired the country’s rapid transformation, calling it a source of inspiration and opportunity for both Nigeria and Africa. The Belt and Road Initiative: Connecting the Globe The BRI, involving over 150 countries and 30 international organizations, aims to foster global connectivity through enhanced communication and transportation networks. Obasanjo stressed the importance of these networks in accelerating Africa’s development and bridging infrastructural gaps. Addressing Concerns on China’s Influence Obasanjo dismissed concerns about China’s growing influence in Africa, asserting that the relationship is built on strategic cooperation rather than exploitation. He described the collaboration as mutually beneficial across economic, diplomatic, and technological fronts. He urged Nigeria to maximize its agricultural and mineral resources as part of the partnership with China, emphasizing the need for industrialization and value addition. “Fair trade, not aid, is the path forward,” Obasanjo stated. A Vision for Nigeria-China Relations As Africa’s largest economy and most populous nation, Nigeria has much to gain from a robust partnership with China. Obasanjo pointed out that the elevation of Nigeria-China ties to a comprehensive strategic partnership in September 2024 marks a turning point for both nations. By fostering trust, promoting fair trade, and strengthening strategic ties, Obasanjo envisions a future where Nigeria and China can jointly contribute to building a more secure, equitable, and prosperous global economy. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Canadian Prime Minister Justin Trudeau is reportedly preparing to announce his resignation this week, according to The Globe and Mail. The report, citing three anonymous Liberal Party insiders, suggests Trudeau could make the announcement as early as Monday, just ahead of the national Liberal Party caucus meeting on Wednesday. Internal Party Dissent and Leadership Challenges Trudeau’s resignation comes amid rising dissent within the Liberal Party and declining popularity. Despite surviving several narrow no-confidence votes, Trudeau has faced calls for his resignation from critics within and outside his party. Questions remain about whether he will serve in an interim capacity while the party searches for new leadership. Mounting Pressure from External Factors Trudeau has also faced external challenges, including pressure from U.S. President-elect Donald Trump, who has threatened a 25% tariff on Canadian goods. This tension led to the resignation of Deputy Prime Minister Chrystia Freeland in December 2024 after policy disagreements with Trudeau. Freeland’s departure marked a significant crack within Trudeau’s cabinet. In November, Trudeau visited Trump’s Mar-a-Lago estate in Florida to negotiate and avoid a potential trade war. Despite these efforts, Trump has repeatedly criticized Trudeau on social media, even suggesting Canada could become the 51st U.S. state—a remark that sparked widespread backlash. Declining Popularity and Leadership Turmoil Once a political superstar, Trudeau has seen his approval ratings plummet. Public opinion polls show him trailing Conservative Party leader Pierre Poilievre by 20 points. Trudeau, who led the Liberals to three election victories in 2015, 2019, and 2021, now faces the challenge of maintaining party unity and relevance. Trudeau’s Legacy in Canadian Politics Trudeau’s time as prime minister has been marked by significant achievements, including: However, these accomplishments have been overshadowed by recent political challenges and declining voter confidence. Looking Ahead As Trudeau prepares for his potential exit, the Liberal Party faces the task of rebuilding and finding a leader capable of addressing internal and external pressures. Whether Trudeau steps down this week or later, his decision will significantly shape Canada’s political landscape ahead of the 2025 federal elections. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Pastor Enoch Adejare Adeboye, the General Overseer of The Redeemed Christian Church of God (RCCG), has called on Nigerians to remain thankful to God despite the current economic and social challenges. Speaking during the annual thanksgiving service tagged “All Round Praise” at the RCCG national headquarters in Ebute-Metta, Lagos, Pastor Adeboye stressed the importance of gratitude, even in tough times. A Call to Gratitude Amid Hardship Addressing the congregation, Pastor Adeboye urged Nigerians to focus on God’s mercy, which sustains life through difficult moments. He said, “If you’re unsure of what to thank God for, thank Him for His mercy. The fact that you’re alive today is not due to your wisdom, strength, or abilities but because of His mercy. The Bible says, ‘A living dog is better than a dead lion.’ As long as you are breathing, there is hope for your future.” He reflected on the significance of life, drawing comparisons to the COVID-19 pandemic, where breathing became a luxury for many. Pastor Adeboye noted, “During the pandemic, people relied on oxygen masks to survive. As long as you can breathe freely, you still have hope, and those who doubt you will be amazed at how your tomorrow will turn out.” A Lesson on Gratitude and Mental Health The RCCG leader connected the idea of gratitude to mental health and contentment, urging people to be thankful for what they have. He said, “Perhaps you couldn’t buy new clothes for Christmas, but you are not naked, and that alone is something to thank God for. Some people have closets full of clothes but have lost their minds. King Nebuchadnezzar, who once had riches and fine clothing, ended up naked and roaming among animals when his mental health deteriorated.” Condemnation of Indecent Dressing Pastor Adeboye also voiced concerns about the rise of indecent dressing in society, which he described as “practical nakedness.” He said, “Nowadays, people expose parts of their bodies that clothes are meant to cover, and this trend is even celebrated on television. This isn’t right. We must return to modesty and decency in our appearance.” RCCG’s 100-Day Fasting Exercise Announced In a related development, the RCCG has declared its annual 100-day fasting program, set to run from January 11 to April 21, 2025. Titled “RCCG Fast 2025,” the program will feature 30 days dedicated to intercessory prayers for Nigeria. Pastor Oladele Balogun, the Special Assistant to the General Overseer, announced the program, highlighting its spiritual significance. Pastor Adeboye reiterated the importance of prayer during fasting, stating, “Fasting without prayer is merely a hunger strike. Prayer is the engine that powers fasting, and I believe this season will bring divine breakthroughs for our nation.” Themes of Gratitude, Modesty, and Spiritual Devotion The thanksgiving service served as a reminder of the power of gratitude, the value of modesty, and the necessity of spiritual dedication. It concluded with a message of hope for a brighter future for Nigeria and its people. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Explore Nigeria’s growing debt addiction and the World Bank’s role in perpetuating it. Learn why experts criticize the unsustainable borrowing practices of Nigerian leaders and their consequences. Nigeria’s dependency on loans from the World Bank has been likened to addiction, with critics arguing that these loans serve the interests of the lender more than the Nigerian people. This sentiment was echoed by Professor Ode Ojowu, a former Chief Economic Adviser to President Obasanjo and member of President Buhari’s Economic Advisory Council. In a recent interview with Weekend Trust, Prof. Ojowu dissected Nigeria’s economic policies and shed light on the nation’s worsening debt crisis. A Troubling Relationship with Borrowing Prof. Ojowu revealed that the World Bank’s country directors often face career consequences if they fail to lend to nations like Nigeria. According to him: “It is our responsibility to make sure that the lending is useful to us.” Yet, these loans often lack thorough oversight and accountability, contributing to a debt spiral that benefits the World Bank while leaving Nigeria trapped. Misguided Economic Decisions One contentious issue raised by Prof. Ojowu was the reduction of Value Added Tax (VAT). He criticized the suggestion to lower VAT from 7.5% to 5%, arguing that such a move would drastically reduce government revenue and increase the nation’s dependency on borrowing. Instead, he advocated for responsible fiscal policies that prioritize sustainable revenue generation over excessive borrowing. “Debt is the opium of the governing classes,” Ojowu stated, highlighting the parallels between drug addiction and Nigeria’s reliance on loans. The World Bank’s Role in Nigeria’s Economic Challenges Unlike investment banks that scrutinize loan applications for viability, Prof. Ojowu likened the World Bank’s lending practices to those of drug dealers in his Lagos Island neighborhood. These loans are frequently given to governments with poor records of transparency and accountability, ensuring that a significant portion of the funds is mismanaged or embezzled. This lack of scrutiny has entrenched Nigeria deeper into debt. Prof. Ojowu disclosed that World Bank country managers are incentivized to prioritize loan approvals over genuine economic advice, making them “economic salespeople” rather than impartial advisors. The Consequences of Unchecked Borrowing Nigeria’s current economic indicators paint a grim picture: Despite these alarming statistics, the Nigerian government continues to rely on loans to cover budget deficits. Prof. Ojowu emphasized that such borrowing benefits only the lenders while perpetuating the nation’s economic instability. Breaking Free from Debt Addiction To address the debt crisis, Prof. Ojowu called for a shift away from dependency on external loans. Instead, he urged Nigeria’s leaders to adopt policies that foster fiscal discipline, transparency, and long-term economic growth. “It is not in our interest to be perpetually hooked,” he warned. He also advocated for Nigerian citizens to demand accountability from their leaders and push for reforms that prioritize the nation’s welfare over short-term financial fixes. Conclusion Nigeria’s relationship with the World Bank is emblematic of a larger issue: a culture of unsustainable borrowing that mortgages the country’s future. Prof. Ojowu’s insights serve as a wake-up call for both leaders and citizens to address the root causes of this addiction and prioritize the nation’s long-term economic health over quick fixes. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Explore how NACCIMA, MAN, LCCI, and other private sector leaders are addressing economic challenges and charting a sustainable growth roadmap for Nigeria in 2025. Prominent private sector organizations in Nigeria, including NACCIMA, MAN, LCCI, and ASBON, have developed a strategic framework for economic recovery and growth in 2025. This follows a challenging 2024, which was marred by declining business productivity, rising costs, and an unstable macroeconomic environment. Challenges Faced by Nigerian Businesses in 2024 Throughout 2024, businesses in Nigeria faced numerous challenges, including: These issues, coupled with insufficient energy supply and rising logistics costs, stifled economic expansion. The Purchasing Managers’ Index (PMI) revealed contractions in business activities for seven months in 2024, signaling an urgent need for reform. Manufacturing Sector’s Decline The manufacturing sector experienced a significant decline, with growth rates dropping to 0.92% in Q3 2024, compared to 1.2% in Q2. Analysts attributed this slump to: MSMEs Face Tough Times Micro, small, and medium enterprises (MSMEs) bore the brunt of Nigeria’s harsh economic climate in 2024. According to Dr. Femi Egbesola, President of ASBON, MSMEs grappled with hyperinflation, increased electricity tariffs, and mounting bank charges. Despite these challenges, the release of the federal government’s intervention fund provided some relief. Egbesola expressed optimism for a better 2025, emphasizing the need for policy reforms tailored to MSME growth. Calls for Strategic Reforms The Director General of MAN, Segun Ajayi-Kadir, called for urgent reforms, including: Ajayi-Kadir emphasized that simply raising the Monetary Policy Rate (MPR) has not addressed inflation’s root causes. Instead, he urged the government to tackle cost-push inflation factors like logistics and energy costs. Collaborative Efforts for Economic Recovery LCCI President Gabriel Idahosa highlighted the importance of private-public sector collaboration. He outlined key areas for investment in 2025, including: Idahosa predicted an improvement in inflation rates and a gradual easing of interest rates as fiscal and monetary policies take effect. Government’s Commitment to Economic Growth The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, assured business leaders of a more supportive environment in 2025. She promised actionable reforms and strategic collaboration with private-sector stakeholders to address their concerns. Oduwole emphasized the federal government’s commitment to fostering a business-friendly ecosystem, highlighting plans to resolve pressing issues like high-interest rates and inflation. Conclusion Nigeria’s path to economic recovery in 2025 depends on the successful implementation of reforms and collaborative efforts between the government and private sector. Key focus areas include stabilizing monetary policies, expanding credit facilities, and investing in critical industries like telecommunications, oil and gas, and manufacturing. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
