Politics
Obi Blames Tinubu For 70% Investment Crash

The 2023 presidential candidate of the Labour Party, Peter Obi, has accused President Bola Tinubu’s administration of presiding over what he described as “a collapse in foreign direct investment.”
He blamed what he called “poor leadership, weak governance, and uncoordinated reforms” for the country’s economic woes.
Obi, in a statement shared on official X (formerly Twitter) handle on Friday, noted that going by fresh figures from the National Bureau of Statistics, FDI into Nigeria plunged by about 70 per cent in the first quarter of 2025, falling to $126.29m from $421.8m recorded in the last quarter of 2024.
“While the President, ministers, and other government officials continue their global galivanting in search of FDI, our poor performance in key governance indicators – such as rule of law, regulatory quality, government effectiveness, and voice and accountability – continues to prove that you cannot attract sustainable foreign investment with poor leadership and governance,” Obi wrote.
READ ALSO:Jonathan, Obi Can’t Match APC’s Strength For 2027 – Mustapha Salihu
While noting that the country’s investment inflows were largely speculative, Obi said, “Of the total capital importation of about $5.64 bn in Q1 2025, FDI accounted for only about 2.24 per cent, compared to 8.2 per cent in Q4 2024.
“Disturbingly, about 90 per cent of the imported capital went into speculative money market instruments, with negligible impact on industrial growth or job creation, given the ease with which such ‘hot money’ can exit the economy.”
He argued the sharp drop in manufacturing inflows further underscored the lack of investor confidence in the country.
“Capital flows to the manufacturing sector declined by 32.1 per cent, falling to only $129.92 million in Q1 2025 from $191.92 million in the same quarter of 2023. There is no better confirmation of the lack of trust in this government, whose reforms remain uncoordinated and largely reactive,” he said.
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The former Anambra State governor further compared the country’s performance with other African nations that recorded major gains.
“In 2024, while global FDI flows declined, Africa’s FDI rose by about 75 per cent to $97 billion,” he stated.
“Egypt alone attracted $46.58 billion. Ethiopia received $3.98 billion, Côte d’Ivoire $3.80 billion, Mozambique $3.55 billion, Uganda $3.30 billion, DR Congo $3.11 billion, South Africa $2.47 billion, Namibia $2.06 billion, Senegal $2.02 billion, Guinea $1.83 billion, and Morocco $1.64 billion.”
According to him, Nigeria has been left trailing far behind.
READ ALSO:Presidency In Nigeria Should Be Five-year Single Tenure — Peter Obi
“Most disappointingly, our dear nation, the so-called ‘Giant of Africa,’ received only $1.08 billion – about one per cent of Africa’s total FDI – representing a decline of about 42 per cent from 2023. Worse still, after that 42 per cent drop between 2023 and 2024, FDI to Nigeria has further declined by 75 per cent between Q4 2024 and Q1 2025,” Obi lamented.
He warned that unless Nigeria fixed its governance problems, it would continue to lose investment to more stable African economies.
“We cannot achieve sustainable growth and development with ineffective leadership and a weak government,” he said.
Politics
Jonathan’s Ex-aide Dumps PDP For APC

A former Senior Special Assistant on Domestic Matters and Social Events to former President Goodluck Jonathan, Dr. Waripamo-owei Dudafa, has formally announced his resignation from the Peoples Democratic Party and joined the All Progressive Congress.
Dudafa, a former member of the Bayelsa State House of Assembly, announced his resignation from the PDP in a statement he issued on Saturday in Yenagoa.
In the letter of resignation addressed to the Chairman, PDP, Southern Opokuma/Ayibabiri Ward 8 in Kolokuma Opukuma Local Government Area, he stated that his decision to quit the PDP followed a period of deep reflection and consultation with his political associates, supporters, and family members.
The letter read in part: “It is with a heavy heart that I tender my resignation from the People’s Democratic Party effective immediately. Throughout my time with the party, I have been deeply committed to our shared values and goals, and it has been an honour to work with so many dedicated individuals.”
READ ALSO:Jonathan Dragged To Court Over Bid To Participate In 2027 Election
Dudafa stated that the unresolved disputes, particularly at the national level, “have significantly impeded our ability to move forward, rather they create an environment of conflict that’s no longer conducive to advancing the shared values and objectives.”
He said: “While this decision has been difficult, I remain committed to serving the best interests of our people, motivated by my dedication to their welfare and progress.”
Announcing his decision to join the APC, he said: “After careful reflection and consideration, I have decided to join the All Progressives Congress (APC), a platform I believe offers renewed hope, unity and a stronger foundation to address the challenges facing our dear state.”
READ ALSO:Jonathan To Meet Tinubu Over Nnamdi Kanu’s Detention — Sowore
To the members of the APC, Dudafa wrote, “I look forward to working alongside new colleagues who share this vision.”
He expressed appreciation to the PDP for the relationships and experiences he gained during his time in the PDP and wished the party well in overcoming its present challenges.
Political observers are of the opinion that his resignation could signal realignments ahead of future political developments in Bayelsa State and at the national level.
Politics
Why Wike Is Always Attacking Peter Obi — Obidient Movement

The Obidient Movement has criticised the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over his recent comments describing Labour Party presidential candidate in the 2023 elections, Peter Obi, as a “social media president.”
Wike had, on Thursday, accused Obi of playing politics with national issues after the former Anambra State governor visited a local authority school in the FCT and lamented the poor condition of public facilities.
“I hear one of the social media presidential candidates went to a local authority school and said the government has abandoned public schools. His name is Mr Peter Obi. It’s not everything you must play politics with,” Wike had said.
READ ALSO:Wike Gives Update On Rivers Emergency Rule Expires Date
However, the National Coordinator of the Obidient Movement Worldwide, Yunusa Tanko, dismissed Wike’s comments, saying they were aimed at keeping the minister in the news.
“How will Wike sell his market if he doesn’t mention Peter Obi?” Tanko asked. “As I am talking to you, you need to see the mammoth crowd we have in our town hall meeting here in Nnewi (Anambra State).”
Tanko further dismissed the FCT minister as the least of the Obi and his followers’ worries and defended Obi’s comments on the state of public schools in the country’s capital, insisting that the Wike merely drew attention to a national concern.
He stressed that Obi’s comment on the state of public facilities in the FCT was to point out that they are in dire need of attention, saying, “I was there on the ground and saw those dilapidated buildings. We also visited a clinic where only one nurse was on duty. Even the roads to the place are not easily accessible.”
Politics
JUST IN: Rivers Cancels N134bn Secretariat Contract, Demands N20bn Refund

The Rivers State Executive Council has cancelled a ₦134 billion contract awarded by the former sole administrator of the state, Vice Admiral Ikot Ete Ibas (retd), for the reconstruction of the State Secretariat complex in Port Harcourt.
The contract, awarded to the China Civil Engineering Construction Corporation during the period of emergency rule under Ibas, was nullified by the Council at its meeting on Thursday.
READ ALSO:Court Dismisses Suit Seeking Refund Of Rivers’ Monies Expended By Ibas
Following the cancellation, the Council directed CCECC to refund the ₦20 billion mobilisation fee already paid for the project.
Also, the Council approved the constitution of a six-member committee chaired by Deputy Governor Prof. Ngozi Odu to assess and recommend suitable locations for the construction of Computer-Based Test centres across the state to support external examinations.
The Council also mandated the state’s flood control committee, also headed by Odu, to take urgent measures to mitigate flooding in affected areas, while cautioning residents against blocking drainage channels.
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