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2027: Labour Party chieftain, Eze raises alarm over economic hardship in Nigeria

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A chieftain of the Labour Party, LP, in Ebonyi State, Ezeh Emmanuel Ezeh, has raised the alarm over the rising cost of living in the country under the ruling All Progressives Congress, APC, while also criticising the economic policies of the federal government,

He expressed worry that the economy has negatively impacted the purchasing power of many households and deepened hardship across the country.

In a statement issued on Sunday, Ezeh described the situation as a progression from “broken pockets” to “broken dreams” and ultimately “broken homes and a broken society.”

He attributed the widespread economic and social distress to policy failures and inadequate accountability under the APC administration of President Bola Tinubu, noting that the consequences of economic hardship are no longer confined to household finances, but are increasingly affecting businesses, employment, family stability and Nigerians’ confidence in the future.

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“Broken pockets, broken dreams, broken homes, broken society. That is the apt description of everyday life in Nigeria today,” Ezeh said.

He argued that the removal of petrol subsidy and other economic reforms introduced by the Tinubu administration had imposed substantial short-term pressures on households and businesses.

President Tinubu announced the end of the petrol subsidy at his inauguration on May 29, 2023, while his administration has consistently defended the measure as necessary to address fiscal pressures and redirect public resources towards infrastructure and social development.

But Ezeh said the immediate burden of the reforms had been particularly severe for low-income households, small businesses and young Nigerians struggling to secure employment.

The Labour Party chieftain expressed concern over the impact of the economic environment on businesses and employment, citing the closure or downsizing of some retail outlets and enterprises.

“When pockets are broken, dreams are broken too. And when dreams are broken, the family becomes the next casualty,” he said.

He alleged that many Nigerian households were now being forced to make difficult choices between food, healthcare, education, transportation and other basic necessities.

Recall that in his third-anniversary address in May 2026, President Tinubu said the country had faced mounting fiscal pressures, unsustainable fuel subsidies, declining revenues, exchange-rate distortions, rising debt-servicing costs and energy constraints when his administration assumed office.

The President acknowledged that the reforms had imposed significant sacrifices on families, workers and businesses, but argued that they were necessary to stabilise the economy and establish the foundation for long-term recovery.

Recent data published by the National Bureau of Statistics also show that Nigeria’s economy recorded real GDP growth of 3.89 per cent year-on-year in the first quarter of 2026, while the latest inflation figures displayed by the agency put headline inflation at 15.39 per cent and food inflation at 19.57 per cent under the rebased Consumer Price Index.

Ezeh, however, maintained that macroeconomic indicators must ultimately translate into improved living conditions for ordinary Nigerians.

He challenged political leaders in the South-East, including those supporting President Tinubu’s re-election bid, to make the interest of citizens central to the political debate ahead of 2027.

“Senator Pius Anyim, Senator David Umahi, Professor Charles Soludo, Senator Orji Uzor Kalu, Governor Hope Uzodimma and every other influential South-East political leader have the democratic right to support any candidate or political alignment they consider appropriate.

“Citizens, however, possess an equal democratic right to scrutinise those choices.”

Ezeh said the 2027 political debate should go beyond zoning, ethnic calculations and political alliances to focus on policies capable of addressing unemployment, enterprise development, security, infrastructure and accountable governance.

He also urged Nigerians to examine the records and policy proposals of political parties and candidates before making their electoral choices.

“The real question is which policies, alliances and leadership decisions offer Nigerians, including Ndigbo, credible prospects for jobs, enterprise, security, infrastructure and accountable governance,” he said.

Ezeh maintained that the 2027 election should provide Nigerians with an opportunity to assess competing visions for the country’s future.

He said rebuilding public confidence would require leadership that treats governance as a responsibility rather than an entitlement.

“A nation does not die only when its economy fails. It dies when its people stop believing that tomorrow can be better than today,” Ezeh said.

He called for greater institutional accountability, economic policies that protect vulnerable citizens and a political culture centred on service, inclusion and measurable development.

Ezeh said the task before Nigerians in 2027 would therefore extend beyond changing political office holders to determining the policy direction, institutional priorities and leadership standards that would shape the country’s next phase of development.

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'It's fake' – Wike rubbishes Peter Obi's display of modesty

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Minister of the Federal Capital Territory, FCT, Nyesom Wike has criticised the presidential candidate of the Nigeria Democratic Congress, NDC, Peter Obi over his claim to modesty.

Wike, who spoke on Tuesday during an engagement with Rivers State youths ahead of the 2027 elections, described Obi’s practice of celebrating birthdays at Internally Displaced Persons, IDPs, camps and buying roasted corn by the roadside as fake.

According to the minister, Obi, who served as governor of Anambra State for eight years, did not demonstrate such modesty while in office.

Wike alleged that Obi’s public display of modesty was part of a political strategy aimed at winning votes in the forthcoming presidential election.

He said, "Make him the president of social media so that he can be going to IDP camps, so that he will be buying corn on the road then you will say oh! Very humble. Humble where?

"It's fake. Who are you going to deceive? When you were a governor, you didn't go to the IDP camp to do your birthday, you didn't go to buy fuel by yourself, all of a sudden, just because you want to be president you are now going. Who are you going to deceive?"

‘It’s fake’ – Wike rubbishes Peter Obi’s display of modesty

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EFCC Detains Abuja Businessman Over Alleged $120m Fraud

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By Isaac Aregbesola

The Economic and Financial Crimes Commission (EFCC) has detained an Abuja businessman for allegedly defrauding a Ukrainian investor of more than 120 million dollars in a scheme purportedly spanning nearly two decades.

EFCC Spokesman, Dele Oyewale, who confirmed the development to the News Agency of Nigeria (NAN) Abuja on Tuesday, said the suspect was arrested in his residence in Abuja on Monday, and has since been in custody.

He however declined further explanation on the development.

Meanwhile a source at the commission conversant with the development, said the suspect was accused of advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretence, theft and money laundering.

According to the source, the details of the case show that his arrest follows collaboration with international investigators and information provided by whistle-blowers within his organisation.

“The suspect allegedly obtained millions of dollars from the investor between 2007 and 2015 for mineral exploration and power projects that were never delivered, and the funds allegedly diverted for personal use.

”The commission also uncovered alleged transfers of billions of naira to companies and individuals linked to the suspect including his children.

“His 28-year-old son, controls Battregen Limited, which investigators described as a conduit for laundering funds.

”Between February and April 2025, Battregen reportedly received approximately N1.4 billion in purported loans in spite of recording no revenue.

“In July 2025, a further N953 million was allegedly transferred to the son of which only N90 million was returned.

”Investigators also identified transfers of between N48 million and N50 million to the suspect’s 26-year-old daughter, and a relative and business associate. They reportedly found no legitimate business purpose for the payments.”

The source further said that the EFCC was expanding its investigation and had appealed to members of the public and the businessman’s former associates to provide further information.

The official explained that the case concerned a Ukrainian investor who reportedly lost substantial assets following Russia’s invasion of Ukraine in 2022.

”Investigators alleged that the suspect subsequently entered into dealings with Inter RAO UES, a Russian state-owned enterprise, for mineral exploitation and energy projects.

”The allegations also extend to his earlier business dealings in Ukraine.
In the mid-2000s, the suspect allegedly persuaded two Ukrainian businessmen to finance the privatisation of Jos Steel Rolling Mill in Plateau before taking exclusive control of the facility, stripping it of assets and abandoning hundreds of workers without wages.

”He also allegedly shot and seriously wounded one of his business partners during a confrontation in Ukraine on April 28, 2008, before fleeing to Nigeria.

“The document detailing the allegations says says the suspect had remained in Nigeria in spite of an Interpol red notice,” the source also told NAN.(NAN)

Edited by Deborah Coker

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