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Hardship: Nigerians are getting what they voted for – Adebayo

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Hardship: Nigerians are getting what they voted for – Adebayo
Prince Adewole Adebayo
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Amid bitting hardship in Nigeria following President Bola Tinubu’s economic policies, the Social Democratic Party, SDP, presidential candidate in the 2023 elections, Prince Adewole Adebayo says he would have performed better than President Tinubu if Nigerians had given him the opportunity to be president. In this interview with DAILY POST, Prince Adebayo, who noted that Nigerians were getting what they bargained for, said the policies that had brought untold hardship to Nigerians were what president Tinubu promised when he was campaigning to be president. Excerpts!

You were quoted to have said you could do better than what the President Tinubu administration is currently doing. What is your view about the present state of affairs?

I am not surprised at the state of things, but I am disappointed. I am not surprised because we predicted that this will be the outcome. It doesn’t matter who you put out there, this will be the outcome if you adopt these policies. We were asking Nigerians to pay attention as we were debating these issues.

There were three policies that we needed to deal with. What do we do with the issue of cost of governance? What do we do with the issue of subsidy on not only petroleum but also subsidy in many other sectors? What do we do with the issue of foreign exchange?

On these three issues, I have fundamental disagreement with President Bola Tinubu, former Vice President Atiku Abubakar, former governor Peter Obi, and many other people who were on that side; I knew that these policies would not work. It has never worked in any country before. In Nigeria in the past, including when we implemented the Structural Adjustment Programme (SAP), it didn’t work for us. It is not that one person is good and another is bad. If you drag me to the villa or Eagle Square and you force me to announce these policies, you will get the same result. Anyone who adopts these same policies will get the same result.

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Economists will ask you if there are countries who adopted these policies; are there countries within our hemisphere, countries within our state of development, countries that have our primary production sector like we have who announced these policies and it has worked, I don’t think so.

I am surprised that some personalities were talking about the Argentina model. I am very familiar with the Argentina model. If you ask an average Argentine to choose between president Javier Milei and president Bola Tinubu, they will tell you to bring Tinubu and give you Milei.

In other words, you are saying Atiku Abubakar was wrong in the Argentina model recommended to Tinubu.

I can say Vice President Atiku Abubakar may be well intentioned but he is misinformed. It is an error. If you look at the situation in Argentina, we may get to that position. I hope we don’t, but we are travelling in that direction, just that they are ahead of us in terms of misery. They have one month of 512 percent inflation. I don’t know if economists can understand the temperature of 512 percent. They have lost virtually all their wealth. The person there now is from the Austrian school of thought. The Argentines are complaining everyday as they have had the worst economic performance since 1980. I am not saying we should not criticise a non performing government of President Tinubu of the All Progressives Congress (APC), but you do not say that somebody complaining of too much sun should be put in the oven, that’s not the way to solve the problem.

These policies are not working, unfortunately Nigerians have voted for these policies. We voted for these policies either because we didn’t pay attention or we didn’t understand the implications of these policies. When you decide to say you vote for a government that said it would remove subsidy from day one, which was what president Tinubu, Atiku Abubakar, and Peter Obi said, and we didn’t listen to them, but people thought they have experience, and maybe, they are more realistic than us. So, they voted that way.

So, any of them that formed the government and adopted any of these policies, will have at the minimum of what we are experiencing now, or even worse. These policies are not good, not because of the parties announcing them, but because structurally they are not suitable for us.

Of course, they come with some benefits, and you can see the benefits. More income to the government, for example, because they are not subsidising any more. More income from the foreign exchange differential because they are not defending the Naira in the old way anymore. You also have the benefits of goods becoming cheaper, that’s why people are saying they are exporting goods from Nigeria to Niger and neighbouring countries because with lower currency, our goods and any other thing we produce become cheaper, those are the advertised benefits, but we are not structurally prepared for them.

You said the policies are bad. But, some informed people said the country was already in bad shape and some of the present policies are what is needed before it can recover; don’t you agree?

I don’t agree with any of your postulations. This is because there are arguments but not every argument addresses the core issue. Every decision you make in economics, at least, you will have two choices, sometimes like 10 choices. In our case, we have like 55,000 choices. We decided to make a world that does not require better governance, that does not require people in the higher echelon losing income because you punish the person with the least contribution to a political campaign. We are subsidising so many things in this country, the only one is that the people have some kind of participation because it is the only product we commonly use and this is where the subsidy removal started from.

Secondly, there was no attempt to do auditing. You will recall that I was shouting during the election that 80 percent of our crude was being stolen, and I campaigned for months on that, but unfortunately, voters didn’t realise that whoever was able to tackle the crude oil theft should be the one to lead the country. Our problems are not difficult to solve. The problems are not insurmountable, it is just that the method to solving them will not be the continuation of what they were doing before.

Do you think we have the right economic team surrounding President Tinubu?

He has the right kind of team for what he wants to do. But, what he wants to do isn’t correct. If I say we should repair a leaking house, and my senior brother says no, let us sell the house. If he has the mandate, he will bring auctioneers, valuers and estate agents to sell it when I would have brought plumbers, carpenters for repairs. I cannot now say he doesn’t have the right team. He wants to sell the house. So, he has the right team to sell the house, but if I want to fix the house, I will bring a different team to fix the house.

If you were President Tinubu today, what would you be doing differently to stop the bleeding?

If I became president on the day he became president, I will not announce any of those policies. In fact, I will immediately go to the national assembly to amend the appropriation act and the petroleum industry act to remove these statutory mandates to yank off the subsidy.

But, if I am becoming president today, the first thing to do is to convince the people of Nigeria and the government that these policies are not right. If you say I should advise a president who believes that the benefits of these policies are down the line, he is not going to listen to me because he is committed to the benefits of the policies down the line. So, the first thing to do is to convince him that the benefits never came to England. England industrialised itself. These benefits didn’t come to Brazil until (president) Lula came and changed them towards social investments. I don’t know where they are getting the policies from. I suspect its from the International Monetary Fund (IMF) or the bankers, who are contributing to their campaign, insisting on these policies, but if they are ideologically committed to these policies, then the solution they can find will be a solution by palliative which is to suspend the full effect of it over time.

But, what they will soon discover is such that the social misery will be so much, the inflation and hyperinflation will be so much that the money they saved may not be up to the money they spend on palliative. So, they need a change of direction even though I cannot guarantee that a well experienced accountant who is a cost cutter like Tinubu who has Wale Edun around him and has chosen Cardoso as his preferred Central Bank Governor, I don’t think they are willing to change for now. I think they should just be a little more efficient in the macro-economic policies they have taken and there are five measures they should have if they must take it.

One of such is that they must have a way to increase their revenue, because right now, they are just collecting less than 20 percent of the collectibles. There are so many sacred cows they don’t want to collect money from.

Secondly, they need to bring efficiency to their accounts. Running a free market economy as they are, going forward, they need more feedback, more sensitivity, and quicker reaction time, which means they need to put sharper and smarter people in their governance. Thirdly, they need to restructure the government spending in such a way that they separate the fiscal spending, which they are controlling and let the CBN governor run his monetary policy, and be the banker to the country, not the banker to the government alone.

Also, they need to find ways to generate employment. They don’t want to spend money on social programmes as stated in chapter two of the constitution. That means they will be going to Qatar and other places because of the sovereign investment money they need to spend to generate employment, they don’t want to spend it because they are following the IMF. Now, they will be begging foreign investors to come and put money in our country, money we have even within our country, but they will be going out; if they are not efficient in that regard, then, they can’t succeed.

Lastly, they need to do something about inflation, by controlling their spending, increasing their revenue, and ensuring they get Nigerians to be productive.

What would you do politically to douse the tension in the land if you were Tinubu?

He needs to be like the head of state, like the father of the nation. He needs to be less arrogant in the assessment of how righteous their policies are. They need to engage people more. However, people need to understand at the same time that you voted for these policies. It is like people of Israel asking Moses to lead them out of Egypt, and on getting to the wilderness, they realised it is not an easy place to be and they started complaining. That is a normal thing. The people of Nigeria voted for these policies, even though they are not good policies. The government should use humility to reach out to the people, and at the same time, show social justice to the people by making sure that the burden of this hardship is not borne only by the less privileged.

Do you think the president has what it takes to fix this country?

I have the feeling that anybody who is determined to fix Nigeria, and who wants to listen to Nigerians and carry everybody along and look for the best talents and not just political parties alone, will do well. I would have preferred that Nigerians voted for me, which was why I didn’t support him. I think I would have done better than him.

But, anybody who is put there, and who is determined to use all the resources in Nigeria can succeed. Of course, the president is a Nigerian, well educated person, quite intelligent, but has wrong policies. He needs to open his mind and get ideas from other people. But, there is no escaping the consequences of the policies people voted for.

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I was scammed, says businessman who paid N400m to embattled PFIPC DG Adeyemi

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The Managing Director, Divine Dopacy Nigeria Limited, Gbenga Collins, has informed the House of Representatives Ad-hoc Committee that he paid N400 million to the purported Director-General of the Presidential Foreign Investment Promotion Council, Adeniyi Adeyemi, after allegedly being promised a contract to renovate and furnish what was presented as the official residence of the DG.

This revelation comes amid the ongoing investigation into the alleged establishment and operations of the agency.

Narrating the ordeal before the committee on Tuesday, Collins noted that he believed the PFIPC was a genuine Federal Government institution because Adeyemi operated from an office in the Federal Secretariat, Abuja, moved with security personnel and official vehicles bearing government number plates, and received visitors in what appeared to be an authentic government office.

Collins, a graduate of Federal University of Agriculture, Abeokuta, said he first met Adeyemi, whom he described as a fellow indigene of Ogbomoso, during a programme in their hometown in December 2024.

According to him, Adeyemi later invited him to Abuja in early 2025 to discuss a business opportunity.

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“When I arrived at the airport, he sent an official car to come and pick me up from the airport to his office at the Federal Secretariat, Abuja.

“When I got to his office, I met him there. He is a well-known man in Ogbomoso. I met a lot of people, very big dignitaries in his office, and I met a group of security officers guarding the office,” he said.

Collins said Adeyemi introduced himself as the Director-General of both the Presidential Economic Advisory Council and the PFIPC.

He told lawmakers that it was his first visit to Abuja and that the official setting gave him no reason to question Adeyemi’s claims.

“I saw police officers with him. That was my first time coming to Abuja because I’m not familiar with Abuja very well. He sent his official car to pick me up from the airport. It had a Federal Government registration number attached to the Lexus SUV,” he said.

Collins said Adeyemi later informed him that he had been allocated an official residence as the DG and wanted his (Collins’) company to handle its renovation and furnishing.

According to him, Adeyemi personally took him to inspect the property.

“He told me that he wanted to do refurbishment and renovation of the official house assigned to him as the DG of that agency and asked whether I would be able to handle the contract.

“He took me to the house to show me the property because I slept in Abuja. We went there the following day with his staff. We went with more than four, five or six vehicles with security. They opened the house and took us round, showing me what they wanted to do,” Collins added.

He said discussions continued until April 2025 when Adeyemi allegedly handed him a contract award letter, scope of work and an agreement between the purported council and his company.

Collins told the committee that he was informed he needed to pay N400m to demonstrate his company’s financial capacity and facilitate mobilisation for the contract.

“He gave me the contract award letter, the scope of work and the agreement with my company to execute the refurbishment project.

“I had to pay N400m for the facilitation of that project to show my strength that I would be able to handle the project. At the same time, he said it would fast-track the mobilisation for the contract,” he said.

The businessman disclosed that he raised the money from business associates who trusted him because he had personally visited Adeyemi’s office.

According to him, N380m was paid in four instalments between May and June 2025 into a Guaranty Trust Bank account belonging to World Entrepreneurs Limited, while the balance of N20m was paid on July 29, 2025, into an Access Bank account belonging to Sunshine Confectionery and Catering Services.

“When I was paying the money, I kept telling him that I collected the money from my colleagues who were doing business with me.

“I was the one who told them I had gone to this man’s office, so I believed it was going to be a great opportunity for us. That was why people started giving me the money,” Collins said.

He said Adeyemi repeatedly assured him that mobilisation for the project would commence in August 2025, but the promise never materialised.

“When I finished the payment, he said they were going to do the mobilisation by August,” he said.

Collins said subsequent explanations centred on security concerns before fresh assurances were given that payment would be made in November.

“I continued calling him. He kept managing me, telling me they were handling security issues and that they would pay in November,” he added.

The witness said he became suspicious after repeated attempts to reach Adeyemi failed and later consulted a lawyer in Abuja.

“My lawyer was the first person who told me that I had been scammed,” he told the committee.

He disclosed that his lawyer petitioned the Economic and Financial Crimes Commission on November 13, 2025, and that he adopted the petition six days later.

“The petition was written on the 13th, and I was invited to adopt it on the 19th,” he said.

He added that investigators later informed him that Adeyemi repeatedly failed to honour invitations from the EFCC, allegedly citing ill health through his lawyer.

“Since then, the EFCC has been trying to invite him. I think he has been sending his lawyer. According to the Investigating Police Officer handling the case, his lawyer kept saying he would appear.

“Since then, I have not heard anything further, but they are on top of the matter. The EFCC will be in the best position to handle the rest,” Collins said.

Appealing to lawmakers, the businessman said the incident had ruined his business and forced him to dispose of personal assets.

“I just want to beg the Chairman and the honourable members to help me talk to all the agencies involved because I have been frustrated, especially by those people who gave me the money. I have started selling my property. My business is not going well again,” he lamented.

He maintained that he acted in good faith because everything surrounding Adeyemi suggested he was dealing with a genuine government official.

“I did all this based on trust. When I went to his office, I met a lot of big dignitaries there, people waiting to see him and people he was discussing contracts with. I also did it because he is from my hometown,” Collins said.

During the hearing, committee chairman Yusuf Gagdi asked Collins whether the N400m amounted to a bribe paid to secure the contract.

The witness rejected the suggestion, insisting that the payment was presented to him as a prerequisite for facilitating and mobilising the contract.

Lawmakers also asked whether he complied with the provisions of the Public Procurement Act before accepting the purported contract.

Collins admitted that he did not follow any formal procurement process.

“What I just have to say is to beg the committee, or to implore the committee, to please, in all their capacity, whatever they can use to assist me with the police that are investigating him because I was invited to the Cybercrime office. He said the same thing, that he did not deny collecting the N400m,” he told lawmakers.

He also confirmed that the money was never converted to United States dollars before it was transferred.

Responding to questions over Adeyemi’s absence from the public hearing, the committee chairman, Gagdi, disclosed that lawmakers would question Adeyemi at an undisclosed date and location to avoid interfering with ongoing investigations by the Economic and Financial Crimes Commission, the Independent Corrupt Practices and Other Related Offences Commission and the police.

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Obi faults attacks on Catholic Bishops, urges Tinubu to embrace constructive criticism

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S’Court didn’t deliver judgment in Obi’s case against Tinubu -LP
President Bola Tinubu and Peter Obi
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The Presidential Candidate of the Nigeria Democratic Congress ( NDC) in the 2027, Mr. Peter Obi, has criticised what he described as growing intolerance of dissent by the Federal Government, warning that attacks on religious leaders who speak on national challenges undermine democracy and distract from the country’s pressing problems.

In a statement titled “When a Government Declares War on the Truth,” Obi said Nigeria’s worsening economic hardship, insecurity, inflation and unemployment require sincere engagement with constructive criticism rather than hostility towards those who raise legitimate concerns.

According to him, the Catholic Bishops’ Conference of Nigeria (CBCN) has never acted as an opposition platform but has consistently served as the nation’s moral conscience, speaking out on issues affecting the common good under both military and civilian administrations.

Obi noted that the same commitment to truth has been demonstrated by major Islamic and Christian organisations, including Jama’atu Nasril Islam (JNI), the Supreme Council for Shari’ah in Nigeria (SCSN), the Christian Association of Nigeria (CAN), and the Nigerian Supreme Council for Islamic Affairs (NSCIA), all of which have repeatedly expressed concern over rising insecurity, economic hardship and inflation.

He argued that religious leaders are often among the first to witness the suffering of ordinary Nigerians because they live and work within local communities where families struggle daily with soaring food prices, unemployment, kidnappings and other security challenges.

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Drawing from his experience as Governor of Anambra State, Obi said constructive criticism from traditional rulers and religious leaders contributed significantly to the successes recorded by his administration, particularly in education and healthcare.

“As leaders, we should be gracious enough to listen to people and organisations that speak the truth to us and genuinely criticise us when things are not going in the right direction,” he stated.

The former governor expressed concern over recent attacks on the CBCN and, in particular, on His Eminence, John Cardinal Onaiyekan, following the bishops’ assessment of the nation’s condition. He recalled that when Pope John Paul II visited Nigeria in 1998 and openly challenged the late General Sani Abacha on issues including the detention of Chief Moshood Abiola, the pontiff was not subjected to public vilification.

Obi also pointed to what he described as a contradiction in the Federal Government’s relationship with the Catholic Church. He observed that President Bola Tinubu demonstrated respect for the Church during the inauguration of Pope Leo XIV in Rome by arriving ahead of many world leaders and participating fully in the ceremonies, but said that posture appeared to have changed following criticism from the Nigerian bishops.

He further accused political actors of attempting to exploit religious and ethnic divisions by portraying the bishops’ comments as a purely Catholic concern.

According to Obi, the issues highlighted by the bishops – including insecurity, poverty, inflation, unemployment and widespread hardship – affect all Nigerians irrespective of religion or ethnicity.

“The bishops merely expressed what millions of Nigerians experience daily,” he said, arguing that government officials should focus on addressing the concerns raised instead of attacking respected religious leaders.

Obi maintained that a democratic government should welcome honest feedback from credible institutions, insisting that national progress depends on leaders’ willingness to confront difficult truths rather than silence those who voice them.

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Popular Nollywood Actress dies after battle with cancer

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Temitope Osoba
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Nollywood actress Temitope Osoba has died after a prolonged battle with cancer, bringing an end to her courageous fight against the illness.

The sad news was confirmed on Wednesday by fellow actor Alesh Ola Sanni, who announced her passing in a heartfelt message shared on his Instagram page.

Sanni disclosed that the actress died on Tuesday evening, expressing deep sorrow over her passing and recalling the memorable moments they shared together. He said he had been unable to sleep after receiving the news and described Osoba as a dear sister whose memories would remain with him.

Temitope Osoba’s death comes nearly two years after she publicly appealed for financial assistance to undergo a second surgery as part of her cancer treatment in November 2024.

During her battle with the illness, the actress spoke openly about the challenges she faced, revealing in an interview that doctors had informed her she might not be able to conceive for five years because of the medication required for her treatment.

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She also disclosed that she underwent several medical examinations to determine whether the cancer had spread, but remained hopeful despite the diagnosis.

According to Osoba, she chose not to accept the medical prognosis regarding her chances of having children. Instead, she said she relied on her faith through prayers and fasting while continuing her treatment.

Her passing has sparked an outpouring of grief from colleagues, fans and members of the entertainment industry, who have continued to pay tribute to her life, resilience and contributions to Nollywood.

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