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Economic Growth Not Felt in Markets as Prices Stay Elevated

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Nigeria’s economic recovery is depicted in official figures, but the reality on the ground is more dire. The growing discrepancy between official growth claims and the excruciating expense of living that ordinary Nigerians must contend with is discussed in this essay by ISAAC ASABOR. The essay exposes the gap between economic theory and real-world experiences in Nigerian markets and households, showcasing professional perspectives, grassroots voices, and a critical examination of the World Bank’s support for reforms.

Even with optimistic government statements praising economic expansion and stability, the typical Nigerian still has to contend with the rapidly rising costs of products and services in all markets.

Nigerians are beginning to wonder about the value of economic progress that does not result in affordability or relief in what seems to be a tale of two economies—one measured in statistics and boardroom data, and the other lived in the trenches of everyday survival.

Given the above, it is convenient to start by stating that Nigeria’s GDP expanded by 3.13% in the first quarter of 2025, according to the National Bureau of Statistics (NBS).

This seems promising at first glance, particularly following years of weak performance, currency devaluation, and macroeconomic unrest.

However, the majority of Nigerians will tell you that the alleged growth is not noticeable in their day-to-day existence.

Fascinatingly, the Nigerian government has received praise from the World Bank for implementing challenging economic changes that are starting to produce macroeconomic gains.

The organization stated in its Nigeria Development Update (NDU) for June 2025 that “Nigeria’s reforms have helped restore macroeconomic stability, boost investor confidence, and improve public revenues.”

Former World Bank Country Director for Nigeria Shubham Chaudhuri stated, “The Tinubu administration deserves credit for implementing long-delayed reforms that could lay the foundation for stronger and more inclusive growth.” The impoverished and vulnerable must now be shielded from the immediate effects of those reforms.

The World Bank warned that “high inflation, rising unemployment, and increasing poverty remain significant risks,” even as it commended the measures to unify the currency rate, remove fuel subsidies, and curb budgetary leakages.

Prices are not declining, despite the fact that the inflationary rate may be. To combat persistent inflation, for example, the Central Bank of Nigeria (CBN) kept its monetary policy rate at 27.5% in July 2025.

Even if it decreased marginally from 23.71% in April to 22.22% in June 2025, the headline inflation rate is still among the highest in sub-Saharan Africa.

The food inflation rate, which has stayed well above 30% in many areas, is more concerning.

A 50 kg bag of rice currently costs between N75,000 to N99,000, up from N35,000 in 2023, according to a Lagos market survey.

Read Also: Zamfara Tragedy: 38 Kidnap Victims Executed After N50 Million Ransom Paid—Local Officials Confirm

Depending on the brand and market area, a loaf of bread that cost N600 in 2023 currently costs N1,200 or N1,300. In addition, the cost of meat, poultry, vegetables, and cooking oil has increased by 70–100% in less than a year.

Mrs. Iyabo Adeoye, a dealer in Mile 12 Market, stated that the inflation figures were not representative of the actual state of the market. Customers cannot afford to buy since prices are tripling every few months. These days, some people purchase food in tablespoons.

After fuel subsidies were eliminated in 2023, transportation expenses have also increased significantly. Before deregulation, fuel sold for N195 per liter; presently, it sells for between N900 and N1,000.

Food prices have increased in tandem with transportation expenses, which have increased by up to 200%, particularly in urban regions that rely on food that is brought from far-off rural areas.

Incomes hardly change as prices rise. The federal government recently announced a new minimum wage of N70,000, but many private and public enterprises are still not complying, and implementation is still uneven.

Uche Chukwuma, a security guard at Ogba in Lagos, stated, “I still make N45,000 a month, and I have three kids to support.” “How can I make ends meet when my monthly transportation costs N20,000? To make ends meet, I now miss meals.

The Nigeria Labour Congress (NLC) claims that despite the updated minimum wage, the majority of Nigerian workers are still unable to cover their basic expenses, and that unless inflation is addressed thoroughly, the amount will grow insufficient once more in the coming months.

Since mid-2023, the cost of providing three square meals a day to a family of five has more than doubled, according to a recent SBM Intelligence report.

According to them: “Inflation is not the only issue Nigerians are currently dealing with. It’s a serious affordability crisis.

The contradiction between macroeconomic performance and citizens’ microeconomic struggles has been repeatedly highlighted by economic professionals.

To put it simply, we are expanding the economy without affecting the people, says Dr. Muda Yusuf, the former Director-General of the Lagos Chamber of Commerce and Industry (LCCI).

Telecoms, banking, oil and gas, and other industries that don’t generate wealth or mass employment are driving growth. The sectors that affect the typical person, such as industry, agriculture, and SMEs, continue to face challenges related to power, insecurity, and logistics expenses.

Likewise, during a recent policy discussion, former CBN chief and Anambra State Governor Professor Chukwuma Soludo issued the following warning:

“Nigeria’s economy cannot be saved by monetary or fiscal tinkering unless structural reforms are coupled with comprehensive human development policies.” GDP growth is a paper tiger if people cannot afford healthcare, food, transportation, and rent.

This frustration is shared by dealers, purchasers, and transporters, according to information obtained from the ground up at Lagos’ Oyingbo Market.

Zamfara Tragedy: 38 Kidnap Victims Executed After N50 Million Ransom Paid—Local Officials Confirm

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After 38 abducted villagers were brutally murdered by bandits, even after more than ₦50 million was paid in ransom, the people of Banga village in Zamfara State’s Kaura Namoda Local Government Area were plunged into sadness.
The tragedy was confirmed on Monday by Mannir Haidara Kaura, the Chairman of Kaura-Namoda LGA, who said that 56 residents were initially taken hostage during the attack.
After weeks in detention, Kaura told Channels Television, just eighteen victims were freed.

As the local government’s chairman, he stated: “I was informed that 56 people were kidnapped by the bandits and that only 18 of them made it back.”

“The remaining 18 individuals are taking medication after we took them to the hospital.” Along with the state administration, we are getting ready to visit the relatives of those who died.

He said that although plans are being made to comfort grieving relatives, the released folks are currently receiving treatment.

Ibrahim Banga, one of the village’s residents, had told Channels Television that the bandits had broken into the area months prior and taken scores of members.

Read Also: Peter Obi Hails Soludo on Birthday with Warm Message: ‘My Dear Elder Brother’

“They asked for ₦1 million for each hostage,” Banga stated.

“The community was able to raise and deliver more than ₦50 million to secure their release after several weeks.”

Only 18 victims were shockingly freed by the kidnappers; the others were apparently killed one by one while in custody.

“When the rescued victims returned, they told us how the bandits had killed the other 35 kidnappees,” he continued.

In order to rescue any remaining hostages, facilitate the return of displaced people, and restore calm, the villagers are now urging the federal government and the state of Zamfara to send armed forces to the region.

Read Also: Peter Obi Hails Soludo on Birthday with Warm Message: ‘My Dear Elder Brother’

A separate operation in Iburu village, Shiroro LGA, Niger State, saw the Nigerian Army’s troops, aided by hybrid forces and DSS intelligence, eliminate no fewer than 45 bandits.

Following intelligence information that terrorists on motorbikes were moving forward to assault many towns, the operation was carried out Friday evening, according to security sources.

One insider revealed that “a fierce gunfight broke out after the DSS alerted soldiers on standby.”

Villagers stated that the clash destroyed dozens of motorcycles and more than 40 bandit bodies.

The military did, however, also sustain casualties. Two hybrid force personnel were murdered, and four more are in a public hospital being treated for severe bullet wounds.

A formal announcement regarding the Shiroro operation has not yet been issued by the military authorities.

Peter Obi Hails Soludo on Birthday with Warm Message: ‘My Dear Elder Brother’

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Professor Charles Soludo, the current governor of Anambra State, has received congratulations from Peter Obi, the 2023 Labour Party presidential candidate, on his birthday.
In a Monday message posted on his 𝕏 account, Obi referred to Soludo as his older brother.
The leader of the Labour Party wished Governor Soludo health, strength, and wisdom so he might continue to serve Anambra State and Nigeria.

Greetings on your birthday to Prof. Charles Soludo, the governor of Anambra State.

“Your Excellency, my beloved older brother, my family, and I join other good-willed men and women in celebrating another year with you today.

“May God grant you health, strength, and wisdom as you serve our beloved state and country.”

Enjoy your birthday, Your Excellency. -PO,” he wrote.

President Bola Tinubu has been charged by Obi with further impoverishing Nigeria and its people.

According to Peter Obi’s personally signed declaration, which was made public on Monday through his 𝕏 account, Nigeria is currently ranked among the world’s most hungry countries under Tinubu’s leadership.

Read Also: Prof Tayo Ends Era at Babcock with Unprecedented 217 PhDs and 241 First-Class Graduates

When Tinubu was running for president in 2023, the leader of the Labour Party recalled how Tinubu chastised him for using statistics a lot.

In order to hide his shortcomings as president, Obi claimed that the same Tinubu is now spreading false information about Nigeria’s economic status after taking office.

The former governor of Anambra State reportedly came to the conclusion that leadership is not difficult and asked President Tinubu to lead with compassion, competence, competence, compassion, and purpose.

Prof Tayo Ends Era at Babcock with Unprecedented 217 PhDs and 241 First-Class Graduates

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Another significant achievement was made on Sunday by Babcock University in Ilishan-Remo, Ogun State, when the religious school graduated 241 students in the First Class grade and a record 217 scholars with Doctors of Philosophy.

3,229 students were graduated in the 2025–2023 convocation of the first private university in Nigeria to begin operations.

The institution’s history also reached a major turning point with the convocation, as Prof. Ademola Tayo, the President/Vice-Chancellor, will formally retire in December 2025 after ten years of revolutionary leadership.

Also, it was a first for the Babcock University Centre for Open and Distance e-Learning (BUCODeL), which graduated its first group of fifty-five students.

The leaving Vice-Chancellor, Prof. Tayo, gave an emotional speech at the gala ceremony hosted at the university’s main campus, reflecting on ten years of development under his direction. He said the university saw major advancements in both academic and infrastructure expansion.

We unleash not only graduates today, but also ambassadors of moral leadership, greatness, and faith,” he remarked. I am incredibly grateful as I conclude this chapter.

Even though the school’s graduates are still taking on leadership roles in a variety of fields, he said, “As the VC, I would be leaving the office on December 1, 2025, I am happy to note that the university’s faculty members have won many research grants for life-changing projects in the last year.”

Chancellor Prof. Bassey Idoh praised the university’s administration for their diligence and dedication to turning out graduates who are making a meaningful contribution to their communities.

Fatimah Lawal of the Economics Department was the top graduating student overall, earning a Cumulative Grade Point Average (CGPA) of 4.97 out of 5.

In a similar spirit, Oladele Alabi and Emmanuel Okpechi were the best postgraduates in the PhD program overall, with a combined CGPA of 4.91 on a 5-point scale, while Oluwabamise Adeniyi was the best Master’s degree graduate overall, with a CGPA of 4.89 out of 5.1.

At 71 years old, Dr. Bolaji Frederick Olusegun earned his PhD in law, making him the oldest individual to graduate.

Sumner Sambo Warns APC Ahead of 2027: ‘ADC Has Issues, But So Does APC’

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According to Sumner Sambo, the director of news and politics editor at Arise Television, the ruling All Progressives Congress (APC) ought to be wary of the opposition coalition led by the African Democratic Congress (ADC).
Prior to the federal elections in 2027, the ADC was renamed the political party of the opposition coalition on July 2.
Former Senate President David Mark was appointed as the national chairman, and former Interior Minister Rauf Aregbesola was chosen the national secretary.

Speaking Monday on Arise Television’s “The Morning Show,” Sambo claimed that the ruling APC would be laughing if it ignored the opposition alliance.

He claims that the APC has a high level of disenchantment.

Many Nigerians did not give the APC opportunity when it was just getting started, he remarked. The APC is rife with disillusionment. There are problems with the ADC; members of the ruling party should use extreme caution.

As for the ADC, it has declared that it will not only participate in the general election in 2027 but will be a strong challenger.

ADC National Publicity Secretary Bolaji Abdullahi told Vanguard on Sunday that the party was not obsessed with the divisive topic of zoning.

Read Also: Inadequate Training Aircraft May Trigger Pilot Shortage in Nigeria

The Peoples Democratic Party (PDP) has had difficulty providing viable alternatives to the All Progressives Congress (APC), according to Abdullahi.

He stated that instead of depending on regional power-sharing agreements, the ADC aims to reshape Nigeria’s political system by advancing values, workable solutions, and people-centered governance. The ADC is committed to creating a robust, grassroots-based political structure throughout the country.

He stated that merit and the greater good of the country would take precedence over conventional zoning in the ADC’s 2027 election strategy.

Inadequate Training Aircraft May Trigger Pilot Shortage in Nigeria

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As a lack of trainer aircraft disrupts training at the International Aviation College (IAC), Ilorin, Kwara State, a pilot shortage could soon affect the Nigerian aviation sector.

Due to recent serious incidents involving its only remaining trainer airplane, the college no longer has trainer aircraft for training its student pilots, a source close to the institution told our correspondent over the weekend.

In a phone conversation with our correspondent, however, the college refuted the assertion, stating that it now has two operational planes for student pilot training.

At its height, the college, which was founded in 2011 by then-state governor Alhaji Abdulfatah Ahmed, had six trainer aircraft. However, according to sources close to the college, it now does not have any operational aircraft for the flying school.

Helicopters, Diamond DA 4Os, and Diamond DA 42s were among the aircraft utilized for the college’s multi-engine rating courses.

Another trainer aircraft registered 5N-BHN crashed-landed in 2019 with no indication that it was ever put back into service.

For the nation’s aviation industry, the college has trained at least 250 pilots with both private pilot licenses (PPL) and commercial pilot licenses (CPL).

A student pilot was hurt when a college-operated trainer plane crashed and landed on Friday, May 23, 2025.

The incident happened at Ilorin International Airport’s Runway 05 during approach.

According to our source, the only aircraft the college had for training that was involved in the serious incident sustained significant damage.

The serious mishap occurred during “a mock check flight” to prepare the student pilot for a CPL check ride, according to our source, therefore the check flight had stalled.

The source also informed our correspondent that the college had applied for permission to buy an engine for one of the fleet’s aircraft so that it could be recommissioned for flight, but as of the time this report was filed, the college had not received permission from the state government to do so.

According to the source, the college is currently floating. It doesn’t have a single plane to perform the necessary test flights for its trainee pilots. As outlined in the training handbook, this is what is typically done, but since that May 23 incident, it has been put on hold.

“A lot of students who are scheduled to take off are waiting because it’s unclear if trainer aircraft will be available. However, we are awaiting action from the state government to turn things around.

The lack of operational aircraft for the college was corroborated by another source, who also did not want his name to appear in print. However, he stated that the majority of the students are presently enrolled in ground school, thus the current situation has not halted their training.

Although we are not currently flying, the majority of the pupils are enrolled in ground school. When they’re done, they’ll take to the skies again. The source stated, “I am certain that aircraft will be available by the time we begin flying.”

Additionally, the assertion that the college lacked trainer aircraft was refuted by Mr. Ajape Abdullahi, the IAC Head of Training.

In a chat with our correspondent over the phone, Adbullahi stated that the college has been accepting and graduating students for the past two months in spite of the serious event involving its trainer plane.

He claims that three pilot students who successfully completed their CPL training were graduated by IAC in June.

Abdullahi informed our correspondent that before to their June graduation, the students completed their practical training aboard the Diamond DA 42 trainer aircraft of the Nigerian College of Aviation Technology (NCAT), located in Zaria.

He added that there are currently around 35 pilot students enrolled in the college, including PPL and CPL enrolled in ground school.

He stated: “Diamond DA 42, which is multi-engine equipment, is the only aircraft that we do not currently have.” Remember that we have an agreement with NCAT called a Memorandum of Understanding (MoU) that allows us to trade equipment.

Our fleet currently consists of two Diamond DA 40 aircraft that are available for practical usage, typically during the last stages of our students’ education. We are still in ground school with our pilot pupils. After that, they will move on to the fly line.

Additionally, we provide our students with hands-on training through a functional simulator. The Nigeria Civil Aviation Authority (NCAA) has accredited the simulator.

Although this is mostly dependent on student performance and weather conditions, the PPL’s maximum training period is six months, consisting of three months in ground school and an additional three months in the fly line. The typical length of time for the CPL is 18 months, which includes 16 weeks of ground school and weeks of fly line training.

Dr. Alex Nwuba, Vice President of the Aviation Safety Round Table Initiative (ASRTI), commented on the problem, stating that the college’s inability to have operational aircraft will hinder the students’ ongoing education.

Nwuba recommended that the Kwara State government adequately fund the institution in order to save it from collapsing. He also mentioned that the administration might continue educating its student pilots by purchasing redundant aircraft at a reduced cost.

“It means that their education would be delayed,” he added. “This is common in our educational system, when pupils attend school for a set number of years but wind up staying longer for no fault of their own.

Read Also: Fayose Declares PDP Dead: ‘It’s No Longer a Party’

The state government has the authority to step in if the college really does not have a trainer aircraft anymore. We ought to continue the college. To get things done, it just comes down to priority.

Additionally, the aviation industry analyst Engr. Chukwudi Amokwu suggested to the IAC management that its flying students be transferred to NCAT for fly line.

According to Amokwu, the college’s lack of trainer aircraft meant that “the flying school of the college is gone and it is the major school that sustains them.”

To be eligible for the PPL and CPL, you are required by law to have a specific number of hours. I believe the PPL has roughly six hours of flight time, while the CPL must have at least 200 hours.

Another option is to use a simulator to carry out the training. They can’t obtain a license without the airplane. Any flying school is built on that foundation,” he continued.

He encouraged the management to repair some of the fleet’s unusable aircraft for student training, explaining that bureaucracy may make it difficult for the institution to purchase a new trainer aircraft.

“They can still request permission from the NCAA to have Zaria instructors come and complete the training for them,” he continued.

Fayose Declares PDP Dead: ‘It’s No Longer a Party’

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According to Ayodele Fayose, the former governor of Ekiti State, the PDP is in chaos after important members defected to the ruling All Progressives Congress (APC) and the African Democratic Congress (ADC).
In an interview that was broadcast on Adaba 88.9 FM in Akure, the capital of Ondo State, on Sunday, Fayose reportedly stated that the PDP is no longer a party.
Despite the tensions and cracks within the opposition party, Fayose stated that he would not join the APC and would stay in the PDP.

In addition, he criticized the PDP leadership for undercutting his contributions to the party’s growth, emphasizing that many of the people who had previously accused him of anti-party conduct are now abandoning the party.

The former governor believes that the PDP is in deeper danger and confusion and that the party is causing its own problems.

Fayose also foresaw a dismal future for the PDP amid the faction, cautioning that the umbrella organization might not even place in the top three in the general elections of 2027.

“So, I will never decamp,” he remarked. I’m never going to APC. Do you quit the party while your family is in crisis? No, I had better show up, fight from within, and oversee the election process. The second place will go to Mr. Peter Obi. In the general election of 2027, PDP will finish fourth.

Read Also: Salary Cuts: Lagos Doctors Embark on Three-Day Warning Strike

“Since the PDP is no longer a party, there is nothing left to destroy. I work in this party, and everyone expects a lot in return. I’ve made my PDP dues. Rotimi Amaechi, David Mark, and Nasir El-Rufia were among the bulk of those in the ADC today who drew the strength of the PDP.

“Although I don’t belong to the APC, people who accuse me of being anti-party are suddenly abandoning the PDP in large numbers. The PDP issue is self-inflicted. Even worse, the party is in disarray.

“You don’t want me to back someone like Obi, who was a former governor of the PDP in his home state of Anambra, and Atiku, who was a former vice president who kept switching parties, but Wike stayed in the party and provided funding for it.”

Salary Cuts: Lagos Doctors Embark on Three-Day Warning Strike

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Due to what they say are unfair salary deductions, medical professionals working for the Lagos State Government have announced a three-day warning strike that will start at 8 a.m. today (Monday, July 28).
The Medical Guild of Lagos State reportedly announced the news at a press conference at their secretariat, when their chairman, Dr. Japhet Olugbogi, denounced what he called a “unilateral deduction” from physicians’ pay.
The conflict, according to Olugbogi, started in April 2025 when the Lagos State Government allegedly withheld money from the wages of all dentists and doctors without their consent or previous warning.

He said that the action caused a great deal of outrage and that it was first undone following “spirited intervention and strategic engagement” with the government.

Following this interaction, a six-member conciliation committee was established, with equal representation from the Guild and the government.

The status quo will be preserved while the government conducted internal deliberations, according to Olugbogi, who added that “we presented all relevant documents clarifying the calculation of the CONMESS salary scale.”

The doctors stated that if their requests are not fulfilled, the walkout will continue until Thursday, July 31.

But in July, the Lagos State Treasury Office started deductions, which the Guild chairman bemoaned as a “breach of trust” in spite of the agreements reached.

He said that although many members had at first called for an urgent strike, the Guild decided to pursue lobbying and diplomacy instead.

The July deduction has compelled us to follow this course of action. According to Olugbogi, this is a betrayal as well as a breach of contract.

The doctors’ demands reportedly include paying the honorary consultants at the Lagos State University Teaching Hospital (LASUTH) the full amount of the 12-month amended CONMESS arrears.

The state administration was also given a 21-day ultimatum by the Guild, which threatened to go on full-scale indefinite strike if its demands were not met.

Read Also: ADC Accuses Tinubu of Borrowing Ten Times More Than Buhari

Olugbogi disclosed the financial difficulties that physicians encounter, saying, “Let it be known that the most senior doctor in Lagos State employment does not earn up to $1,100.”

“However, in its wisdom, the government believes that the best way to inspire the health workforce is to cut this pitiful income.”

He urged Governor Babajide Sanwo-Olu to act quickly to reverse what the Guild referred to as “illegally deducted funds.”

ADC Accuses Tinubu of Borrowing Ten Times More Than Buhari

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President Bola Ahmed Tinubu has borrowed more over ten times as much as former President Muhammadu Buhari in just two years, according to the African Democratic Congress (ADC).

It stated that there is no corresponding development or economic recovery to support the fresh wave of borrowing by President Tinubu, which is expected to push Nigeria’s public debt above N200 trillion before the year is out.

The party was outraged by what it calls “fiscal vandalism” by the Tinubu administration when the National Assembly approved another $21 billion in foreign loans.

ADC accused President Tinubu of going above and beyond what his predecessor had done by mortgaging the nation’s future in mountains of debt in the name of economic change, according to a statement released by its National Publicity Secretary, Mallam Bolaji Abdullahi.

Additionally, the party attacked the National Assembly for serving as a rubber stamp, claiming that MPs had neglected their responsibility to shield Nigerians from the effects of unmanageable debt.

What Nigerians are seeing after a new $21 billion in foreign loans were approved is nothing less than a calculated decision to mortgage the nation’s future in order to cover up today’s failures, the ADC said, expressing its deep concern over the Tinubu administration’s dangerous obsession with borrowing.

Even Nigeria’s average annual borrowing of N4.7 trillion under President Buhari raised serious concerns. However, under President Tinubu, annual borrowing has increased to N49.8 trillion.

Over the course of two years, this administration has borrowed over ten times as much as Buhari did during that same period. Nigeria’s overall public debt would surpass N200 trillion before the year is out if current trends continue. “Those in charge seem to have no brakes, believing they can borrow their way out of economic problems that require more thoughtful actions and greater fiscal discipline, and we are speeding toward a financial cliff,” ADC stated.

In comparison to Buhari’s $4.15 billion in annual borrowing, supporters of this government like to claim that Tinubu’s borrowing is smaller in dollars, at only $1.7 billion.

However, that reasoning breaks down as soon as we consider the currency rate. The government is paying significantly more for these same loans now that the naira is in free fall, once more as a result of this administration’s bad policy decisions. Compared to Buhari’s annual average of N2.2 trillion, Tinubu’s foreign borrowing totals N25.5 trillion annually when converted to naira. “What we are seeing is the expansion of a debt trap brought about by economic mismanagement and a currency collapse,” the party said.

The party went on to say that “our total public debt has grown from N12.6 trillion to over N149 trillion in 2025 since the APC took over in 2015.” The APC has borrowed more over $35 billion from external lenders alone in the past ten years. Our debt to the World Bank has tripled in just ten years, which is almost twelve times greater. The amount of Eurobonds we owe has increased tenfold. This government now wants to increase borrowing, bringing our foreign debt ceiling up to $67 billion.

Our children will be left to pay back debts they did not accrue or gain from as a result of this careless borrowing, which is done year after year without any intention of repaying it or making an attempt to spend it wisely.

Read Also: “No Northern Politician Commands Buhari’s Popularity” – Presidency

Although the debt has kept growing, infrastructure has remained inadequate, hospitals are still ill-equipped, universities are still woefully underfunded, and the electrical supply is still subpar. What precisely are these loans used for, then? Nigerians expect the National Assembly to raise this question. Rather than raising the difficult questions, requiring a strategy, or advocating for the Nigerian people, it has persisted in approving these loans.

Tinubu’s borrowing costs are already destroying the foundation of our economy, according to the Association of Small Business Owners of Nigeria. Credit for small enterprises is no longer available. Investors are withdrawing and losing faith. Additionally, the government is taxing regular Nigerian families more than they can afford because debt service now accounts for more than 60% of our national revenue.

“The recent devaluation of the naira should have reduced the need for external borrowing, but the government has treated it as an excuse to borrow even more,” the ADC said, echoing other nations’ efforts to cut their debts while the APC is taking out more loans.

The party has insisted that Nigerians have a right to know the conditions, interest rates, payment schedules, and ultimate recipients of all loan deals signed by the APC and the Tinubu administration during the previous 10 years.

ADC urged President Tinubu to stop this fiscal irresponsibility and instead concentrate on substantive transformation by making prudent investments and spending sensibly. It further stated that the days of borrowing to cover policy failures must end.

“No Northern Politician Commands Buhari’s Popularity” – Presidency

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Since no political figure in the North has the same extraordinary following as the late president, the presidency has said that political leaders vying for the position of late President Muhammadu Buhari may be wasting their time.

In a press release on Sunday, Senior Assistant to the President on Media and Special Duties Tunde Rahman stated that he would have backed Tinubu’s reelection in 2027 if the late President Buhari had been still living.

Rahman claims that Buhari’s passing seems to have created more room for leadership in the North.

“And no Northern political leader today commands that extraordinary following as Buhari,” he remarked. Since his death, there has been a rat race for supremacy in leadership.

In some ways, President Tinubu benefits from this circumstance, even though it may be detrimental to his political standing. This does not, in any way, minimize the immense emptiness and suffering caused by the statesman’s passing.

Mr. Boss Mustapha, a former Secretary to the Government of the Federation (SGF), responded to the statement that President Tinubu did not appoint Buhari as president in 2015 because the late president had more than 12 million votes before the election.

“Many would wonder why Buhari didn’t become president in 2003, 2007, and 2011 if he had always had a guaranteed bloc of 12 million votes and the alliance partners contributed only three million votes,” Rahman said. “That is because President Tinubu and others joined him to form an alliance that resulted in the all-conquering All Progressives Congress.”

“If the late President himself hadn’t frequently acknowledged President Tinubu’s assistance in his ascent to the exalted office, this might have been like wasting energy on a matter that would have been merely academic.”

He pointed out that Buhari had always valued Tinubu’s role in helping him become president.

“Despite the aforementioned, the former SGF’s claim offers a useful perspective for estimating the possible impact of the previous President’s passing on the 2027 election.

Read Also:Tragedy in Niger State: 13 Killed in Boat Accident

“By many standards, former President Buhari led an amazing life, and his fiery exit was equally noteworthy. He received a historic state burial from President Tinubu. President Tinubu ordered the country’s flag flown at half-staff and proclaimed seven days of national mourning following Buhari’s death in a London hospital on Sunday, July 13. When Buhari’s body arrived in Katsina from the United Kingdom, the President was present to accept it. Significantly, Buhari’s remains were interred at his hometown of Daura, Katsina State, on Tuesday, July 15, and the Federal Government proclaimed it a public holiday.

Rahman also mentioned the dignitaries that observed the previous president’s funeral and escorted the late president’s remains on the lengthy drive to Daura under Tinubu’s leadership.

“For that late patriot, civil war hero, distinguished army general, and former President, who stood for the Talakawas, no honor would be too much,” he continued. Buhari was referred to be “Mai Gaskiya” by many Nigerians because of his Spartan lifestyle and commitment to justice and truth.

“In the lead-up to the 2027 election, some analysts liken former President Buhari’s death to a double-edged sword that can cut both ways,” he said, referring to the effect of Buhari’s passing on Tinubu’s reelection.

They argue that President Tinubu may benefit or suffer from his passing in the 2027 election. Those who believe that Buhari’s death could undermine the President’s reelection ambitions argue that Buhari was a sincere and dependable ally of Tinubu until his death and that their alliance, which was based on respect and trust, had remained solid until Buhari’s death. During his life, Buhari never criticised Tinubu or his government. According to reports, the former president praised Tinubu for having the guts to make significant economic decisions that he had found challenging to carry out.

“Given that Buhari had continuously emphasized his gratitude to the APC, which gave him the platform to become president, and Tinubu, who helped him along the way, there was no reason to believe that he wouldn’t have supported Tinubu in 2027 if he were still alive.”