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“People should not forget that the President himself was the leader of the opposition for 16 years. He remained the only surviving governor of his party, Alliance for Democracy.

“He stayed there, strengthening the party, and he galvanised the opposition to form what is today the APC and made it so strong that they could unseat a ruling party. They defeated the sitting president, which was unprecedented in Nigerian history.

There are strong indications that recent political moves by President Bola Tinubu are responsible for the defections of top opposition figures to the ruling All Progressives Congress.

Sunday PUNCH noted that the APC and the President, who had been on the defensive against criticisms from the opposition and anti-Tinubu coalition groups, might have turned the tables around.

Insiders insisted that the change resulted from Tinubu’s recent moves.

However, while some sources and opposition figures claimed that the President deployed inducements and blackmail, his supporters said he provided good leadership, which made the party attractive to outsiders.

Masterstroke or mischief?

Feelers from the APC identified Governors Umo Eno (Akwa Ibom), Peter Mbah (Enugu), Aba Yusuf (Kano) and suspended Governor, Siminalayi Fubara (Rivers), as four new converts expected to join the party in the coming weeks.

“It is not a rumour. It is happening; those four governors – Eno, Mbah, Yusuf and Fubara — are on their way to joining the APC,” a source said.

Multiple sources at the ruling party secretariat in Abuja equally confirmed the development to Sunday PUNCH.

This comes barely three days after the defections of Delta State Governor, Sheriff Oborevwori; his predecessor, Ifeanyi Okowa, and all members of the PDP in the state.

Their change of allegiance was announced last Wednesday by Senator James Manager, shortly after a meeting that lasted over six hours at the Government House in Asaba.

Another source, however, didn’t rule out mischief and blackmail in the arrangement.

He cited President Tinubu’s covert meeting with Fubara in London as one of such.

The meeting, confirmed by an online media platform, The Africa Report, was held at the insistence of the embattled governor, who was suspended from office after a declaration of a state of emergency in Rivers.

Sunday PUNCH could not confirm the details of the meeting, as presidential aides contacted said they were not part of the President’s latest trip.

A top source said, “It was at that meeting that we believed Fubara must have been coaxed into considering the idea of defection as part of the arrangement to return his mandate. We also have reasons to suspect that Governor Eno’s potential move to the APC is linked to his predecessor and godfather’s alleged corruption case with the EFCC.

“Kano’s case is already a done deal as Tinubu has started reconciling Ganduje and Kwankwaso. In the coming days, the news of Abba Yusuf’s defection will be made public because he will officially move to the APC with his mentor. We all know Kano is too big a state for Tinubu to ignore politically.”

Also, a chieftain of the New Nigeria Peoples Party, Buba Galadima, claimed that a federal lawmaker under his party said President Tinubu gave him a N95bn ecological fund project.

He said, “At least if I don’t know anything, I know a serving lawmaker who declared that he was given N95bn, which is not in the budget, for an ecological project.”

Reacting, the National Secretary of the APC, Senator Ajibola Basiru, denied allegations of inducement and blackmail.

He said, “How can we induce a governor to come and join our political party? There is no factual basis for those allegations. It is in the figment of their imagination and possibly a product of hallucination. The truth is that even before decamping, if they check online, they will realise Governor Sherif has, on several occasions, shown his preference for Tinubu’s presidency.

“He has never hidden his admiration. So, when the stakeholders met, they felt that rather than just supporting Asiwaju in 2027, they should join his party so they could work together. Less than two weeks ago, we were in Agbor when the chairman of NDDC and the Delta Unity Group defected to the APC.

“The only senator of the PDP in Delta, Senator Ned Nwoko, also defected to the APC. So, anybody watching the development knows that it was only a matter of time before the leadership of that place moved. I hope you also know that former Governor James Ibori is a friend of Asiwaju, and they have been collaborating since Tinubu became president. So, would he not want his party to join up with Asiwaju Tinubu?”


Opposition in disarray

The PDP, Labour Party, and NNPP are currently grappling with internal crises compounded by defections to the APC, which has left their parties in disarray.

According to some politicians, the crises are being sponsored to weaken the opposition ahead of 2027.

The immediate past governor of Kaduna State, Malam Nasir El-Rufai, had on March 11 alleged that the crises faced by opposition parties were being sponsored by “the government of the day.”

El-Rufai said the litigation, divisions, and factionalisation across opposition parties were all contrived by the ruling party to destabilise them.

PDP: A house divided

The PDP, the largest opposition party in the country, has been embroiled in controversies since the 2023 elections.

Sunday PUNCH noted that the crisis, largely between the camps of former Vice President Atiku Abubakar and the Minister of the Federal Capital Territory, Nyesom Wike, has significantly weakened the party.

Wike, who worked against the PDP in the 2023 presidential election, has declared support for Tinubu’s 2027 bid.

Delta State Governor Oborevwori, his predecessor, Okowa, and many key members of the PDP also dumped the party for the APC last Wednesday.

Similarly, a member of the House of Representatives, Oluwole Oke, resigned from the PDP and joined the APC the same day.

Oke’s defection brings the number of opposition members in the National Assembly who had dumped their parties for the APC to 17 since the inauguration of the 10th Assembly.

On Saturday, members of the Rivers State caucus in the National Assembly declared support for Tinubu’s second term.

Commenting on the defections, a former Secretary to the Government of the Federation, Babachir Lawal, said the defectors, especially the governors, were afraid that Tinubu might move against their elections.

He told Sunday PUNCH, “All of them are scared of Tinubu. They are afraid of what he will do to them, especially when he has the judiciary in his pocket. But we in the coalition don’t care about that.”

LP: One party, three chairmen

The Labour Party is also riddled with a leadership crisis, resulting in factionalisation and defections.

Currently, three individuals are laying claim to the leadership of the party.

Embattled National Chairman, Julius Abure; former Minister of Finance, Senator Nenadi Usman, leading a caretaker committee; and Lamidi Apapa are all claiming leadership of the party.

Amid the crisis, the LP lost key members to the APC.

They are Senator Ezenwa Onyewuchi (Imo East Senatorial District), Esosa Iyawe (Oredo Federal Constituency, Edo State), Chinedu Okere (Owerri Municipal/Owerri North/Owerri West Federal Constituency), Mathew Donatus (Kaura Federal Constituency, Kaduna State), and Akiba Bassey (Calabar Municipal/Odukpani Federal Constituency, Cross River State).

NNPP: An undecided party

President Tinubu and the APC are said to be making moves to win over the NNPP leader and former Kano State Governor, Rabiu Kwankwaso.

Our correspondents gathered that Kwankwaso and many NNPP leaders might join the ruling party.

The National Publicity Secretary of the NNPP, Ladipo Johnson, in an exclusive interview with one of our correspondents, confirmed that the party was considering its political options.

He said, “There are three cards on the table: either we remain in the NNPP and continue with those who joined us all the way, or we form some sort of coalition with Atiku and others, or we form an alliance with the ruling party. I am not saying any of these is the case now, but these are the three basic options that could happen.”

Meanwhile, the party has been losing some of its prominent members to the APC.

No fewer than four federal lawmakers of the NNPP, including Senator Kawu Sumaila (Kano South Senatorial District), Yusuf Galambi (Gwaram Federal Constituency, Jigawa State), Mohammed Isimbabi (Toto/Gadabuke Constituency, Nasarawa State), Musa Ibrahim (Doma South Constituency, Nasarawa State), and Kabiru Rurum (Rano/Bunkure/Kibiya Federal Constituency, Kano State), along with ex-Speaker of the Kano State House of Assembly, Sha’aban Sharada, have joined the APC.


The CPC bloc

Members of the defunct Congress for Progress Change, largely made up of loyalists of former President Muhammadu Buhari, were reported to have planned to dump the APC for another party.

However, weeks after the defection plan, a faction of the bloc, led by former Nasarawa State Governor, Senator Tanko Al-Makura, declared support for Tinubu, announcing that he and others on his side were not leaving the APC.

A recent report indicated that a leaked memo revealed that Al-Makura was being considered for the APC national chairmanship in exchange for helping to convince other CPC members to remain in the party.

Tinubu made party attractive —Presidency

Aides to the president attributed the influx into the APC fold to the president’s leadership, which they said stabilised the party.

They argued that the defections showed that the ruling party had become the safest political shelter ahead of 2027.

The Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, on Saturday, said, “He is not masterminding anybody to leave their party. He has made the party attractive to others who are willing to join. What he has done is to make the right decisions, even though tough, some of them painfully initially.

“A beautiful woman will always attract suitors. So, if you have made your house good, people whose houses are tattered and whose houses have no roof will naturally come to you, where they can get shelter.


“If people say they want to come and take shelter, we won’t chase them away, and that is politics. In politics, you add to your number. You don’t remove your number. Politics is about getting more people on your side, not sending people away from your side.”

A second presidency source, who did not want to be identified, blamed the defections on the collapse of PDP cohesion, arguing there were no inducements from the Aso Rock Villa.

“The opposition is in tatters. They have no semblance of organisation, and for any politician, what he cares about is how to win his election, how to remain relevant, how to be in the scheme of things. I don’t think the President has met with any of them privately,” the aide said.

A third source recalled Tinubu’s 16 years leading the opposition, urging the opposition to fix their parties to forestall further defections.

“People should not forget that the President himself was the leader of the opposition for 16 years. He remained the only surviving governor of his party, Alliance for Democracy.

“He stayed there, strengthening the party, and he galvanised the opposition to form what is today the APC and made it so strong that they could unseat a ruling party. They defeated the sitting president, which was unprecedented in Nigerian history.

“So, if those who say they want to take power from him cannot organise themselves, do you blame him for that?” the source said.

Kobojunkie:
Time has come again to pay the local boys!! 😩😩😩😩😩

The Russian Federation on Wednesday lauded the Nigerian government for supporting the United Nations UN’s adoption of a resolution to combat the glorification of Nazism.

Ambassador Andrey Podyolyshev of the Russian Federation Embassy in Nigeria made the expression during a photo exhibition in Abuja to commemorate the Soviet Union’s victory in the Great Patriotic War.

NAN reports that the war of about 80 years ago, which refers to the Soviet struggle against Nazi Germany during World War II, has been described as the deadliest in human history.

The war reportedly claimed millions of lives.
The exhibition by Podyolyshev was dedicated to remembering the victims of the Second World War, and ro mark the 80th anniversary of the victory over Nazi Germany.

It was also aimed at promoting awareness about the dangers associated with the war and the Great Patriotic War.

Podyolyshev expressed his gratitude to Nigeria, stating,

“I would like to thank Nigeria for supporting Russia in the UN’s resolution combating the glorification of Nazism.”

He highlighted that during the 79th session of the UN General Assembly, Nigeria voted in favour of the resolution to combat practices contributing to contemporary forms of racism, discrimination, xenophobia, and intolerance.

He further emphasised, “We truly appreciate Nigeria’s cooperation, and we look forward to continued collaboration on international matters, especially within the United Nations.”

Podyolyshev also noted Nigeria’s recent partnership with BRICS, expressing confidence in the potential for further cooperation.

malali:

The Accountant-General’s disclosure confirms the collapse, not conjecture.
$72.4 million down to $473k is arithmetic, not opinion.
Denial only delays collapse,nations that survive first admit hard truths.
True patriotism demands brutal honesty, not emotional deflection.

He lauded the company’s track record in Nigeria, [b]which includes building the largest lithium factory in Nasarawa State and a $150 million battery-recycling facility in Aba, Abia State.

Minister of Steel Development, Prince Shuaibu Abubakar Audu has performed the official groundbreaking ceremony of the Inner Galaxy Group’s Stellar Steel Plant, a $400 million investment in Ogun State.

This was disclosed in a statement released on Thursday by the Ministry’s Principal Information Officer, Ijomah E. Opia.

The steel plant, which will sit on over 100 hectares of land once completed, is expected to produce hot-rolled coil, reducing Nigeria’s $4 billion annual steel import bill, strengthening the nation’s foreign-exchange position, growing and diversifying the economy away from oil & gas and also creating over 3,500 direct and indirect jobs for Nigerians.

The groundbreaking ceremony of the Stellar Steel Plant follows the commissioning of the African Industries Group’s Galvanised Steel Plant with an estimated annual turnover of about $100 million.

Both activities form part of the minister’s one-week official visit to Lagos and Ogun states to engage with private sector steel players.

Performing the groundbreaking ceremony, Audu lauded the Inner Galaxy Group for their commitment to the steel industry revival efforts under the Renewed Hope Agenda of President Bola Tinubu, reiterating that the Federal Government is keen on encouraging private sector players as a means of growing the Nigerian economy.

“As you are aware, this is one of the most robust cabinet teams that has been put together by any President since the advent of the democratic dispensation in the Fourth Republic in 1999 because President Tinubu is renowned for selecting the best hands and leaders to actualise his vision,” Audu said.

The minister also expressed confidence in the capacity of the Inner Galaxy Group to deliver on its plans for the completion of the Stellar Steel Plant, as he expects to commission the completed plant by next April, 2026.

He lauded the company’s track record in Nigeria, which includes building the largest lithium factory in Nasarawa State and a $150 million battery-recycling facility in Aba, Abia State.

“I have personally come to support the Inner Galaxy Group and the Stellar Steel Team for this 400-million-dollar investment in the steel sector.

It is a very impressive project, and I have come to perform the groundbreaking ceremony, as I look forward to coming for the commissioning once it is ready in April 2026, by God’s grace.

“Under President Bola Ahmed Tinubu’s Renewed Hope Agenda, we are determined to build a $1 trillion economy by 2030.

Steel is the backbone of industrialisation; from roads and power stations to defence hardware — they all need steel, and this particular project exemplifies the public–private partnership required to compete in Africa and globally.

“We want to grow the Nigerian economy to one of the biggest economies in the world by 2030. China has done that excellently well over the last 30 years and is also renowned for speed of execution.

“We, as leaders in Nigeria want to follow in those footsteps so that we can make our economy not just the biggest in Africa but one of the biggest in the world,” Audu said.

Vice President of the Inner Galaxy Group, Mr Jackie Shan, who interpreted on behalf of its Chairman, Mr Li Chuang, who was also present, thanked the Ministry of Steel Development, under Audu’s leadership, for striving for the revitalisation of the steel sector in the country.

In the same vein, the minister paid working visits to Proforce Defence Solutions in Ode Remo and Epail Nigeria Plant in Mowe, both in Ogun State.

The visits are aligned with the Federal Government’s push for local production of military hardware and the proposed development of a military industrial complex within the Ajaokuta Steel Complex.

Speaking at Proforce Nigeria Limited, the minister said that the President has also repeatedly stated the importance of having a military industrial complex to help improve the security situation in the country.

According to him, having a military industrial complex in Ajaokuta with local capacity to produce military hardware is extremely critical.

Mr Ayo Ogundeyin, Managing Director of Proforce, commended the minister for his dedication to reviving the steel sector and affirmed that with support from the Ministry, Nigeria could become Africa’s top defence manufacturing hub.

At Epail Nigeria, the minister applauded the company’s use of advanced technology in defence production and reaffirmed the government’s readiness to collaborate in support of its operations.

Dr. Kola Balogun, Chairman of Epail Nigeria, also called for stronger collaboration with the Ministry, highlighting the essential role of steel in defence production.

He advocated for a licensing framework to support and regulate private military equipment manufacturers in the country.

malali:
The latest ECA balance proves beyond debate: this administration is racing Nigeria to poverty at breakneck speed.
In 2021, our Excess Crude Account had $72.4 million.
In 2025, it’s now a pitiful $473,000 — almost completely wiped out.
Add the mountain of reckless borrowings and it’s clear: Nigeria is being hollowed out financially right before our eyes.

However, on March 23, 2023, the federation account allocation committee (FAAC) said the balance in the excess crude account stood at $473,754.57.

Mariangeles:
Tinubu is more of Nigerian politicians' president, than the people's president.
He does not regard the suffering of the masses.

Why do they find it difficult to be on the people's side? It's not even like the people are asking for too much.

The Governor of Nasarawa State, Abdullahi Sule, has said he always praised President Bola Tinubu because he made more resources available to governors to deliver on their projects.

The All Progressives Congress (APC) Governor stated this on Wednesday in Keffi, while speaking as a special guest and visitor at the 4th stakeholders meeting and 1st anniversary of Professor Sa’adatu Hassan Liman as Vice-Chancellor, Nasarawa State University Keffi (NSUK).

According to him, the President’s foreign exchange policy remained the game changer for the country.

His words: “ I always use these kinds of opportunities to thank the current administration of President Bola Ahmed Tinubu. When we couldn’t do some of the things that we could do, it was mainly because we didn’t have the resources.

“The government could not afford to give sufficient funds to the university because there were not enough funds. But today, we are one of the states of the federation that are witnessing improved revenue.

“Everything that we are doing for this university and every other institution just finished signing a document this weekend for the new salary structure for the House of Assembly, as well as other tertiary institutions in the state that would also require over one hundred million additional funding.

We are doing it one hundred per cent from the improved IGR and the improved monthly subvention without borrowing any funds.

“Everything you see we do in this state today, construction of this, construction of that. We are getting ready to do the groundbreaking of the flyover at the Total Roundabout in Keffi to reduce accidents, that is a contract of over N10bn. We have already paid the contractor 50 per cent so that there would be no variation.

“The reason we are doing all these is because there is improved revenue, and not one naira for the projects going round the state is borrowed. It is wholly funded from state resources.

That is the reason why every time I have had the opportunity, I express great appreciation to the administration of President Tinubu for all the things they have done to create the opportunities, especially on the unification of the foreign exchange. That is where most of these advantages are coming from.”

“We reject IPOB’s attempts to use blood-stained rhetoric to cause unrest in our land,” the statement read. “Efforts to export their terrorist ideology into Edo State are dead on arrival.”

The Edo State Government has dismissed as baseless the allegation by the Indigenous People of Biafra that Governor Monday Okpebholo allocated N6bn to compensate “Fulani terrorists” in the wake of the Uromi killings, where 16 hunters from Kano State were lynched.

In a statement issued on Thursday, the Chief Press Secretary to the governor, Fred Itua, condemned the claim made by IPOB, calling it a malicious attempt to incite ethnic division and destabilise the peace of Edo State.

The statement described the accusation as not only false but also a dangerous distortion of facts aimed at sowing discord within the state.

“The attention of the Edo State Government has been drawn to a recent press statement issued by the Indigenous People of Biafra, a proscribed terrorist organisation by the Federal Government of Nigeria, in which it falsely accuses Governor Monday Okpebholo of allocating N6bn to compensate so-called ‘Fulani terrorists’ and alleges betrayal of the people of Edo State,” Itua said.

“We consider this publication not only inciting but also a vile attempt by a terrorist group to distort facts, sow ethnic division, and destabilise the peace and unity of Edo State.”

The controversy stems from an incident that occurred on March 28, when 16 hunters from Kano State were brutally lynched in the Udune Efandion community of Uromi. Following the killings, Governor Okpebholo visited Kano to appeal to the families of the victims and to prevent any reprisals.

A subsequent delegation from Kano State also visited Edo to discuss compensation for the families of the deceased hunters.

However, IPOB, in a release on April 21, alleged that the Governor had paid billions of Naira in compensation for the northern hunters, a claim that the Edo government swiftly refuted.

“No compensation of N6 billion was approved or paid to any group,” Itua stated, calling the figure “fictitious, malicious, and deliberately misleading.”

The government also criticised IPOB for attempting to exploit the tragic incident to advance its agenda of ethnic disintegration and violence.

“It is a familiar strategy of IPOB to spew falsehood and incite hatred under the guise of activism,” the statement continued.

“Their desperate attempt to drag Governor Okpebholo into their agenda of violence and ethnic disintegration will fail.”

Governor Okpebholo’s administration, according to Itua, has been committed to justice, peace, and the safety of all Edo residents, regardless of their ethnic or religious backgrounds.

The statement reaffirmed the government’s rejection of any efforts to incite ethnic violence and emphasised that Edo State is known for its unity, hospitality, and progressive values.

“We reject IPOB’s attempts to use blood-stained rhetoric to cause unrest in our land,” the statement read. “Efforts to export their terrorist ideology into Edo State are dead on arrival.”

The Edo government called on security agencies to investigate the sources of the inciting publication, emphasising that no group, no matter how loud, should be allowed to threaten public peace or incite ethnic violence.

Ikaeniyan0:
Only peter obi will be left in the LP by this time in 2027

Ahead of the 2025 political party Congresses, Plateau State Chapter of the Labour Party (LP) stakeholders has endorsed the defection of the candidate of the party in the 2023 general elections and the leader of Justice and Rebirth, Barr Gyang Zi SAN, to the All Progressive Congress (APC) on the Plateau.

The defection of Barr Zi SAN) is with the view to key into the Renewed Hope Agenda of President Bola Tinubu.

They made the call in a communique issued at the end of the enlarge meeting of the stakeholders from Plateau North senatorial zone at the residence of Barr. Gyang Zi in Rayfield Jos.

The communique which was jointly signed by Dr. Ayiki Sati Director General, Justice and Rebirth and Barr. Samuel Galadima- 2024 Chairmanship candidate of Jos East LGA among others said the call became imperative on the sideline of the leadership tussle at the National Level which violates the core principles and values for the formation of the Party as an alternative for Nigeria for the protection, sustenance of democracy and Social Justice.

They regretted that the leadership tussle of LP has also divided the party into factions leaving party loyalists and supporters in the state of despondency and confusion not knowing where they belong.

Daily Independent reports that the gathering included LP candidates from the 2023/2024 general elections, party executives, and support groups from the six local government areas of the Northern Senatorial District.

Besides, the focus of the discussions was centered on the state of the Labour Party at both national and state levels and the need for political realignment ahead of the 2025 party congresses and conventions.

The stakeholders further frowned at the structural weaknesses in LP and resolved to advise Barr Gyang Zi, to leave the party and join the APC while expressing confidence that the APC would provide him with a platform to advance good governance in the state.

The communique also emphasized the importance of political consultations, particularly with APC leaders at both state and national levels. It called for collaboration with Plateau State APC leaders, including Minister of Humanitarian Affairs Prof. Nentawe Yilwatda Goshwe, Sen. Simon Bako Lalong, Sen. Diket Plang, and other party officials.

According to the communique, supporters of Barr Gyang Zi also pledged to mobilize grassroots support for the APC, stating that their leader’s defection would strengthen the party in the state.

They urged the APC leadership to formally receive Gyang Zi and his supporters into the party, marking their official transition from the Labour Party.

Stakeholders also reiterated the need for inclusive governance, ensuring that youths, women, and less privileged individuals are sidelined in the democratic process and accordingly officially denounced their membership in the Labour Party, declaring their support for the APC.

They assured that all LP structures aligned with Gyang Zi would follow suit, shifting their loyalty to the ruling party in the state and at the National level.

PRESS STATEMENT 22/4/25

ALL PROGRESSIVES CONGRESS
PLATEAU STATE
CHAPTER
KALWA HOUSE
YAKUBU GOWON
WAY
JOS.

LABOUR PARTY OF THE NORTHERN ZONE FINALLY COLLAPSES INTO THE APC.

Labour Party stalwarts and thousands of their supporters in the Northern zone this morning formally introduced themselves to the State Working Committee of the APC.

The Labour Party faithful in their thousands and led by the it's former Senatorial Candidate Gyang Zi SAN, enthusiastically revealed that after due diligence and consideration, they could but come to the conclusion that the APC is the ultimate platform for socio-economic development of their people.

Barrister Zi SAN, told the State Working Committee that their decision to join the APC is to build,consolidate and mobilize, for the success of the Party at all levels.

According to him,after watching and studying the Party's trajectory, the Labour Party supporters believe that the APC outshines other Political parties in power,particularly in terms of people oriented policies and programmes.

Receiving them in the APC Secretariat, State Chairman Rt. Hon. Rufus Bature,pointed out that today marks a turning point and a political milestone in the politics of the Northern zone.

He stated that the coming of the labour Party supporters into the APC's fold,has completely changed the political equation and arithmetic in the zone.

Rt. Hon.Bature assured that the former labour party supporters should avail themselves of all opportunities that abound in the APC, adding that they will enjoy all the rights and privileges due to all members of the Party.

After good will messages from the APC leadership in the United Kingdom, Barr. ZI SAN, was presented with the APC flag as a bonafide member of the Party.

Barr. Zi SAN was accompanied by all the six former House of Assembly,local government Chairmanship and Councillorship flag bearers of the labour Party in the Northern zone.

SGD.
Shittu Bamaiyi
Acting publicity Secretary.

Experts Disagree As IMF Downgrades Nigeria’s 2025 GDP Forecast

Experts have disagreed to the recent downgrade of the Nigeria’s Gross Domestic Outlook from 3.2 per cent to 3 per cent in 2025 by the International Monetary Fund (IMF).

The projection is a downgrade from the IMF’s estimate of 3.2 percent announced in October 2024, according to the Fund’s World Economic Outlook (WEO) report presented at the ongoing spring meetings on Washington DC.

The Bretton Woods organisation also expects Nigeria’s economic growth to further slowdown at 2.7 percent in 2026.

The estimates reflect a broader decline in global economic activities, following the announcement of tariffs by United States and countermeasures by trading partners, according to the IMF.

Meanwhile, Nigeria’s real per capita output is projected to rise by just 0.6% in 2025 and 0.3% in 2026, indicating minimal gains in individual income levels despite overall growth.

This lags behind the Sub-Saharan Africa average and underscores continued inequality and weak household purchasing power.


What Experts are saying

Speaking on Daily Trust, lead economist for ECOWAS, Prof. Ken Ife, said contrary to the IMF’s projections, Nigeria’s economy would outperform up to 4 percent in 2025

He said: “I disagree with the IMF projections because they don’t understand our economy well. There are indices that reflect on GDP growth and Nigeria is doing well in that regard.

“These indices include household consumption, balance of payments and investments.

“In terms of balance of payments, we posted positive balance of payments of $6.8 billion and our household and public consumption is set to increase if the tax reform bill is passed because of the amendments, some taxes will be removed and household consumption will increase.

“Also in terms of investments, we are not seeing Foreign Direct Investments but we are also seeing portfolio investments. Also we are seeing domestic investments in the case of Dangote refinery which is now selling refined petroleum in Naira and saving us alot of forex,” he explained.

Prof. Ife added that with the recent indices, Nigeria’s economy was poised for growth and exceed the projections by the IMF.

In his own view, Dr. Oluseye Ajuwon, a lecturer at the African School of Economics, noted that the downgrade might not be only for Nigeria considering the current trade war initiated by American President Donald Trump.

According to him, “I don’t think the downgrade is only for Nigeria considering the trade wars currently happening between America and the world and Nigeria has its own fair share.

“We are seeing that the tariffs imposition including that of Nigerian goods will also impact the economy negatively including the exchange rates which has now increased to about N1,650 to $1.”

Asked if that will affect investments into Nigeria, he said, “I don’t think the forecast will have any impact again, other than what we have seen.”

https://dailytrust.com/experts-disagree-as-imf-downgrades-nigerias-2025-gdp-forecast/

IMF Regrets Negative Remarks on Nigeria’s Economic Policies Following Confrontation with Senator Ibrahim

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva on Monday in Washington DC allegedly regretted comments she made recently on the need for the federal government to consider the poor in its economic policies.

Georgieva’s purported regret came against the backdrop of comments by Senator Jimoh Ibrahim, who criticised the IMF over its “negative comments that lack supporting data” about Nigeria’s economy.

IMF had also questioned the federal government’s reforms and its impact on poor Nigerians during an inter parliamentary meetings.

However, Ibrahim, who represented the Senate at the World Bank Parliament in Washington, D.C., specifically challenged the World Bank institution over the negative comment on the Nigerian economy.

The senator further pressed Georgieva, demanding to know what President Tinubu had done wrong with ongoing reforms so far implemented since the president took over the helm of affairs in 2023.

He stressed that such misleading statements had the potential to harm the economy, and create instability in domestic management.

Furthermore, Ibrahim argued that rather than condemnation, the international community needed to acknowledge Tinubu’s noble economic initiatives, especially tariff regulation, improved revenue ratio to GDP ratio, cash flow management relative to GDP, and debt repayment among others.

The senator said, “Madam IMF, in recent weeks, the IMF has criticised the Nigerian reform programmes with negative comments that lack supporting data.

“Do you believe this is fair? Suppose we are to look inward to build a strong economy, as you suggested in your paper.

“Is it appropriate for the IMF to make untruthful comments about the domestic economy?

“Is the IMF the entity managing the economy?” Ibrahim also said Tinubu’s achievements should be considered a success for Africa, warranting worldwide support.

However, addressing the senator’s concerns, the IMF boss said, “We shall be mindful of our comments on Nigeria from now on. We are your IMF; we are sorry again.”

Ibrahim, thereafter, thanked the IMF MD for her straightforward comments and accepted her apology on behalf of the country.

The Fund recently urged the federal government to ensure that its efforts to stabilise economy and boost growth are supported by measures that protect the country’s poorest citizens.

To ease the suffering of the poorest citizens, the IMF asked the federal government to expedite the completion of its cash transfer programme to support the vulnerable households.

According to the Director of the IMF’s Communications Department, Julie Kozack, the cash transfer is a crucial priority in the face of ongoing economic reforms.

“We do recognise the extremely difficult situation that many Nigerians face. For that reason, I just want to emphasise that completing the rollout of cash transfers to vulnerable households is an important priority for Nigeria, as is improving revenue mobilisation domestically,” Kozack said.