Politics

Japan’s ruling coalition at risk of losing majority in election, exit polls show

Published

5 months ago

October 27, 2024

A man casts his ballot at a polling station in Tokyo on Sunday. Photograph: Franck Robichon/EPA © Photograph: Franck Robichon/EPA

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Japan’s ruling coalition could lose its majority in parliament in Sunday’s general election, according to exit polls, after suffering losses amid voter anger over a funding scandal and the cost of living crisis in the world’s fourth-biggest economy.

A poll by the national broadcaster NHK showed that the Liberal Democratic party (LDP), which has ruled Japan almost without interruption since the mid-1950s, and its junior coalition partner, Komeito, were set to win between 174 and 254 of the 465 seats in the lower house of parliament.

The main opposition Constitutional Democratic party (CDP) is predicted to win 128 to 191 seats. The outcome may force the LDP or CDP into power-sharing agreements with other parties to form a government. The official result is not expected until Monday morning.

The LDP’s ability to form a government will depend on whether it can continue as the senior partner in a coalition with Komeito, a much smaller party that was also projected to lose seats. The two parties together need 233 seats to retain a majority.

While the result is not a repeat of the political seismic shock of 15 years ago – an unprecedented defeat for the LDP – it has left the party significantly weakened and will raise questions about the future of the recently installed prime minister, Shigeru Ishiba.

Ishiba had warned that the LDP had work to do to regain public trust after months of controversy over MPs’ undeclared slush funds. “We want to start afresh as a fair, just and sincere party, and seek your mandate,” he told supporters on the eve of the vote.

Ishiba, a former defence minister, became the party’s president – and Japan’s new prime minister – last month after his predecessor, Fumio Kishida, announced he was stepping down to take responsibility for the funding scandal.

Dozens of LDP lawmakers were found to have siphoned unreported profits from the sale of tickets to party gatherings into slush funds.

Several senior figures were disciplined, and the party withdrew its support for several candidates in Sunday’s vote – moves that failed to repair the damage inflicted by the funding scandal.

Ishiba, who is battling low approval ratings just weeks into his premiership, was wrongfooted days before the vote when the media reported that the party had given millions of yen in campaign funds to local party chapters whose candidates had lost the party’s endorsement.

Japan’s longsuffering opposition was pinning its hopes on the scandal triggering a repeat of the 2009 lower house election, the last time the LDP was deposed.

The CDP leader, Yoshihiko Noda, accused the LDP of ignoring the needs of ordinary people, as polls said most voters wanted action on rising prices, as well as tax cuts and wage rises. “The LDP’s politics are all about quickly implementing policies for those who give them lots of cash,” Noda told supporters on Saturday. “But vulnerable people have been ignored.”

Takeshi Ito, a 38-year-old voter, said he would support the LDP in the absence of a viable alternative.

“Even if I were to switch to an opposition party, it’s still unclear whether they could push forward reforms, and I don’t know if I can trust them or not at this point,” Ito said. “I want to see the party in power continue to move forward.”

Politics

Anambra 2025: Onyeze emerges Accord Party guber candidate ‎

Published

20 minutes ago

April 10, 2025

Ekwutos Blog

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‎Anambra philanthropist, Chief Chidi Charles Onyeze, has emerged the governorship candidate of the Accord party for the November 5 2025 Anambra governorship election.
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‎He was declared unopposed during the Party’s Primary election process held at East End Hotel, Aroma, Awka, on Tuesday, April 8, 2025.
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‎The exercise was witnessed by thousands of party chieftains, members, INEC, security, and the media.
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‎By his emergence, Chief Onyeze has become the youngest governorship candidate, who will participate in the election alongside the incumbent governor of the state, Prof Chukwuma Charles Soludo (APGA), Prince Nicholas Ukachukwu (APC), Mr. Jude Ejimofor (PDP), Chief George Muoghalu (LP) and other awaiting candidates from other political parties.

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‎Speaking to Journalists shortly after the process, Onyeze said he is contesting the election to address the current challenges of unemployment, insecurity, and poor educational system in Anambra State.
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Politics

FG UNVEILS GOVERNANCE SCORECARD TO ACCELERATE $1 TRILLION ECONOMY VISION

Published

58 minutes ago

April 10, 2025

Ekwutos Blog

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The Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has spotlighted corporate governance as a key lever in President Bola Ahmed Tinubu’s push to build a $1 trillion economy, urging state-owned enterprises (SOEs) to meet global standards of transparency, ethics, and performance.

Speaking at the MOFI Corporate Governance Forum in Abuja on Monday, the Honourable Minister described the newly introduced MOFI Scorecard as a vital benchmark for institutional health—designed to position SOEs for investment, growth, and long-term value creation.

This scorecard is not just a document—it’s a test, Edun said. He added that Strong governance attracts capital, builds trust, and delivers real economic returns.

The two-day forum, themed Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance, brought together CEOs, regulators, and development partners to examine how better oversight can unlock Nigeria’s public asset potential.

Referencing entities like NNPC Ltd, Edun noted that SOEs must be investor-ready as the government shifts from debt-heavy budgets to equity-based growth. He also pointed to positive macro signals and falling food and fuel prices—as early signs of a stabilising economy.

MOFI Chairman Dr. Shamsudeen Usman confirmed that the scorecard will be enforced through independent assessments, including MOFI itself. We are not asking others to do what we haven’t already done, he said.

MOFI CEO Dr. Armstrong Takang outlined a rollout that includes third-party evaluations, remediation plans, and public recognition through the annual MOFI Excellence Awards.

Backed by the World Bank, the initiative marks a shift in how Nigeria manages public wealth—with governance now central to growth, resilience, and investor confidence.

The introduction of the governance scorecard is a testament to the Federal Government’s commitment to transforming Nigeria’s economy. As the country moves forward, one thing is clear: transparency, accountability, and growth will be the guiding principles for the SOEs.

Politics

FG GIVES UPDATE ON THE CRUDE AND REFINED PRODUCT SALES IN NAIRA INITIATIVE

Published

1 hour ago

April 9, 2025

Ekwutos Blog

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The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative has today convened an update meeting held in Abuja with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presiding. The meeting reviewed progress and addressed ongoing implementation matters.

The stakeholders reaffirmed the government’s commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council (FEC). It stated that the Crude and Refined Product Sales in Naira initiative is a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.

The Committee acknowledges that implementation challenges may arise from time to time. However, such issues are being actively addressed through coordinated efforts among all relevant parties. The initiative remains in effect and will continue for as long as it aligns with the public interest and supports the national economy.

The meeting was attended by the Chairman of the Implementation Committee, the Honourable
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; the Chairman of the Technical Sub-Committee and Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji; the Chief Financial Officer of NNPC Limited, Mr. Dapo Segun; the Coordinator of NNPC Refineries; Management of NNPC Trading; representatives of Dangote Petroleum Refinery and Petrochemicals; and senior officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Central Bank of Nigeria (CBN), the Nigerian Ports Authority (NPA), representative of Afreximbank, as well as the Secretary of the Committee, Hauwa Ibrahim.

The meeting underscored the government’s commitment to the Crude and Refined Product Sales in Naira initiative, a strategic move expected to have a lasting impact on Nigeria’s economy, fostering growth, stability, and self-sufficiency. This bold step positions Nigeria for success in the years to come