A weekly newsletter that takes a closer look at the significance of truth and falsehood in today’s news stories.
Mr Kwankwaso said he never borrowed money when he was governor of Kano state. However, multiple media reports confirm that he borrowed N4.1 billion from pensioners’ funds to build Bandirawo and Amana Housing Estates. Read more here.
Peter Obi claimed that Israel’s export last year (2021) is $59.8 billion. This is Not True! According to Israel’s Ministry of Economy and Industry, the country accrued $143 billion in exports. The World Bank also estimates that Israel made $143.05 billion on exports of goods and services. Click here to read more.
Mr Omoyele – referring to the Olusegun Obasanjo administration – said that the previous government spent 16 billion dollars [on the power sector]. False! A 2017 report on corruption in the power sector by the Socio-Economic Rights and Accountability Project (SERAP) records that Obasanjo’s administration spent $10 billion. Continue reading here.
Prince Adewole said, “80% of Nigeria’s crude oil is being stolen”. Official figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) show Nigeria lost more than 115,000 barrels per day to oil theft and vandalism between January 2021 and February 2022. That is less than 10% of the country’s regular daily production of about 1.5 million barrels daily. Learn more here.
Kola Abiola said Nigeria has “an informal sector that is 60% of our economy.” However, the most recent GDP report by the National Bureau of Statistics puts the share of the informal sector at 41.43%. In 2017, the IMF estimated that the informal sector contributed 65% of Nigeria’s GDP.