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Saturday, 15 December 2018

JUST IN:Peter Obi deletes tweet giving false figures

READ ALSO :   Buhari talks tough, says war against Boko Haram is ‘fight to finish’

FACT CHECK: Verifying Osinbajo, Peter Obi’s Claims At Vice Presidential Debate

The vice-presidential candidate of the Peoples Democratic Party, Peter Obi, caught red-handed for reeling out fake and outlandish figures on Friday night went further low early Saturday: he deleted one of the misleading tweets.

Obi, who told many lies during the debate, was fact-checked and his figure for 2015 was found to be wide off the mark.

Apparently embarrassed, he deleted the tweet and replaced it with another.

Here were his original tweet and the correction he got:

READ ALSO :   Buhari talks tough, says war against Boko Haram is ‘fight to finish’

*Obi’s deleted tweet

The fact checking that showed that Obi lied

Obi’s new tweet skirted 2015 and now quoted a figure for 2014.
Peter Obi

@PeterObi

Replying to @PeterObi

Currently, we have a government that is doing what it is not suppose to do. The job of Government is supervision and to create an enabling environment for investments to thrive. #2019debate
Peter Obi

@PeterObi

In 2014, we generated $21bn in FDI, in 2017, Nigeria attracted only $12bn. Unemployment & underemployment was 24% in 2014. In 2017 it is now 40%. Even our stock market has lost over N2Trillion in one year. You can’t shut down your shop and be chasing criminals. #2019Debate

Even that figure was false.

ProShare , an investment company dealing with equities said $2.7billion was what came in in 2014 and it fell to $720m in 2015, rising again to $1.4b in 2016, falling again in 2017 to $980million.

Trading Economies.com said Foreign Direct Investment in Nigeria averaged 1279.72 USD Million from 2007 until 2018, reaching an all time high of 3084.90 USD Million in the fourth quarter of 2012 and a record low of 435.64 USD Million in the second quarter of 2018.

IndexMundi, quoting IMF figures also gave FDI for Nigeria as $5,562,874,000 in 2013, $4,655,849,000 in 2014(far lower than the $24billion quoted by Obi), $3,128,592,000 in 2015 and $4,434,648,000 in 2016. It fell to $3.4billion in 2017, according to World Bank data.

And here is a CBN report on Direct Investments inflow to Nigeria’s economy. The CBN said it increased by 0.7 per cent to US$438.84 million when compared with the preceding quarter of 2018. It however, indicated a decline of 45.0 per cent when compared to the corresponding period of 2017.

“Portfolio Investments inflow to the economy decreased significantly to US$1,790.83 million in Q3 2018 from US$4,233.38 million and US$3,320.84 million in the preceding quarter and the corresponding period of 2017, respectively .

However, other investment liabilities increased slightly to US$4,281.48 million when compared with US$3,226.58 million recorded in the preceding quarter”.
Other lies of Obi:

*Peter Obi lied when he said SMEs get only 0.5% of total bank loans of N19trillion to the private sector in Nigeria. According to CBN, the actual figure is N22.44 trillion and only 0.1% goes to the SMEs, as at March 2018.

*Peter Obi said Nigeria’s unemployment is 42%. But NBS statistics said it was 14.2%.The vice-presidential candidate of the Peoples Democratic Party, Peter Obi, caught red-handed for reeling out fake and outlandish figures on Friday night went further low early Saturday: he deleted one of the misleading tweets.

Obi, who told many lies during the debate, was fact-checked and his figure for 2015 was found to be wide off the mark.

Apparently embarrassed, he deleted the tweet and replaced it with another.
Here were his original tweet and the correction he got:

*Obi’s deleted tweet

The fact checking that showed that Obi lied

Obi’s new tweet skirted 2015 and now quoted a figure for 2014.

Peter Obi

@PeterObi
· 20h
Replying to @PeterObi

Currently, we have a government that is doing what it is not suppose to do. The job of Government is supervision and to create an enabling environment for investments to thrive. #2019debate
Peter Obi

@PeterObi

In 2014, we generated $21bn in FDI, in 2017, Nigeria attracted only $12bn. Unemployment & underemployment was 24% in 2014. In 2017 it is now 40%. Even our stock market has lost over N2Trillion in one year. You can’t shut down your shop and be chasing criminals. #2019Debate

Trading Economies.com said Foreign Direct Investment in Nigeria averaged 1279.72 USD Million from 2007 until 2018, reaching an all time high of 3084.90 USD Million in the fourth quarter of 2012 and a record low of 435.64 USD Million in the second quarter of 2018.

IndexMundi, quoting IMF figures also gave FDI for Nigeria as $5,562,874,000 in 2013, $4,655,849,000 in 2014(far lower than the $24billion quoted by Obi), $3,128,592,000 in 2015 and $4,434,648,000 in 2016. It fell to $3.4billion in 2017, according to World Bank data.

And here is a CBN report on Direct Investments inflow to Nigeria’s economy. The CBN said it increased by 0.7 per cent to US$438.84 million when compared with the preceding quarter of 2018. It however, indicated a decline of 45.0 per cent when compared to the corresponding period of 2017.

“Portfolio Investments inflow to the economy decreased significantly to US$1,790.83 million in Q3 2018 from US$4,233.38 million and US$3,320.84 million in the preceding quarter and the corresponding period of 2017, respectively . However, other investment liabilities increased slightly to US$4,281.48 million when compared with US$3,226.58 million recorded in the preceding quarter”.

Other lies of Obi:

*Peter Obi lied when he said SMEs get only 0.5% of total bank loans of N19trillion to the private sector in Nigeria. According to CBN, the actual figure is N22.44 trillion and only 0.1% goes to the SMEs, as at March 2018.

*Peter Obi said Nigeria’s unemployment is 42%. But NBS statistics said it was 14.2%.

READ ALSO :   Atiku Blasts Buhari, Osinbajo For Refusing To Attend Burial Of Soldiers Killed In Metele Attack 

The participating parties at the Vice-presidential debate held in Abuja on Friday night are; Allied Congress Party of Nigeria (ACPN), Alliance for New Nigeria (ANN), All Progressives Congress (APC), Peoples Democratic Party (PDP) and Young Progressives Party (YPP).

Peter Obi of the PDP, and APC’s Yemi Osinbajo are debating alongside Ganiyu Galadima of ACPN, Khadijah Abdullahi-Iya of ANN and Umma Abdullahi-Getso of YPP.

OBI: There are about two million vehicles in Nigeria.

CHECKED: False. According to the National Bureau of Statistics (NBS), Nigeria has a total vehicle population of about 11,547,236 as at the third quarter of 2017.

OSINBAJO:Lagos-Ibadan expressway was “practically” abandoned for 16 years under PDP.

CHECKED: False. The Goodluck Jonathan administration made many interventions on the Lagos-Ibadan expressway, awarding a multi-billion naira contract to Julius Berger and RCC. The administration fixed the Ibadan to Ogere section of the road.

OSINBAJO: A bag of fertiliser now sells for N6,000 to N7,000.

CHECKED: Largely correct. Price of fertiliser has experienced a drastic drop following the Nigeria-Morocco fertiliser deal. Current prices are between N5,500 and N6,500. As at 2016, a bag of fertiliser sold above N10,000.

OBI:Nigeria has fallen on the global competitive index from 124 to 127.

CHECKED: False. According to the latest (2018) World Economic Forum report, Nigeria rose on the index by 10 places. Obi’s claim was true in 2016.

OBI: Total loans from the banks in Nigeria is N19trn and only 0.5% goes to SMEs

CHECKED: Yet to be verified.

OSINBAJO:There is a tax threshold for SMEs, SMEs get to a level before they pay taxes.

CHECKED: True. There is a lower tax rate of 20% applicable to small companies in manufacturing, agriculture and mining within their first five years of business. The problem with the law is that the turnover threshold to qualify is only N1 million which is not in tune with current realities.

OBI:Nigeria’s foreign direct investment for 2015 was $21bn, while it fell to $12bn in 2017.

CHECKED: False. According to NBS capital importation reports, Nigeria’s total imported capital stood at $9.6 billion in 2015, and $12.3 billion in 2017. Perhaps Obi meant 2014, when Nigeria’s total capital imported stood at $20.7 billion.

OBI: African trade today is less than 9 percent.

CHECKED: False. According to Afriexim Bank, Intra-Africa trade is around 15 percent. In 2016, intra-African exports made up 18 percent of total exports according to Brookings Institution.

OSINBAJO: Nigeria went down by 64 places under PDP, but has risen by 24 places under APC

CHECKED: Partly False. Nigeria went down from 120 to 170 between 2008 and 2015, under PDP rule. Under the APC, ease of doing business has risen from 170 in 2015 to 146 in 2018, according to the World Bank Ease of Doing Business report.

OBI:Oil gives you 80% of foreign exchange earnings.

CHECKED: Point valid, figures near accurate. As at 2017 NBS figures showed that Nigeria’s foreign exchange earnings from oil the oil sector stood above 90%.

OBI: To bring out goods from Apapa cost more than it takes to bring goods from Europe

CHECKED: Unverified

OBI: The federal government spends only N5 on the health of each Nigerian citizen per day.

CHECKED: True. Based on budgetary and population calculations done by TheCable, the federal government allocates N4.7 to every Nigerian’s health per day.

OBI:Apple Inc’s market cap is bigger than the economies of Nigeria, South Africa and Egypt.

CHECKED: False. Apple’s market cap today is $788.57 billion. The economies of these three countries are bigger than Apple. When Apple was $1 trillion a few months ago, it was bigger in dollar terms.

OBI: Nigeria has fallen on the global competitive index from 124 to 127.

CHECKED: False. According to the latest (2018) World Economic Forum report, Nigeria rose on the index by 10 places. Obi’s claim was true in 2016.

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