Former Presidential candidate, Kingsley Moghalu, has attacked the Federal Government’s penchant for enslaving future generations through borrowing, saying we need competent hands to run the country.
This Magazine reported that the Federal government has projected a borrowing plan till 2025, with intent to bring the national debt to over 50 trillion Naira by borrowing N12 trillion by 2023. This has been met with outrage, especially in the Social media.
Reacting to the news, Moghalu, a former Central Bank Deputy Governor, said the proposal makes him weep for Nigeria.
“The irresponsible borrowing by the Buhari @NigeriaGov is nothing short of madness. Plans to borrow another N12 trillion by 2023, bringing public debt to N50 trillion, makes me weep for our country. We need an economically competent government in 2023”, he tweeted in his verified twitter handle.
“Nigeria’s borrowing is not sustainable. Forget the nonsense about debt-to-GDP ratio still being limits at 35%, rising to 42% by 2026. What matters for a developing country is ability to pay relative to revenues and the cost of debt servicing relative to investment in development.
“At 90 kobo of every one Naira we earn going to debt repayments, there is nothing left to invest in education and healthcare (human capital), the building blocks of any society. Borrowing supposedly to build infrastructure that can’t yield revenues to repay the debt is wrong.
“Yeye dey smell. This is very bad economics. According to @IMFNews our revenue-to-GDP ratio will decrease from 7.2% in 2021 to 6.5% in 2026, and general government expenditure-to-GDP ratio will decline from 13.3% in 2021 to 12.6% percent in 2026. Bottom line, revenues going down, ability to spend on essential services going down. Nigeria needs economic salvation!”, he concluded.
Hope seems deemed on the possible early completion of the rehabilitation of the Ado Ekiti/ Akure highway by the Federal Government, as only one billion Naira is allocated to the work in 2021 budget.
The road, which is one of the links between Ekiti and Ondo States has become a death trap, and kidnappers den.
Hardly will a month pass without reported cases of kidnapping along the road with the recent one involving a Catholic Priest early December.
Transporters that still manage to ply the highway have astronomically increased fares for a journey of, ordinarily, not more than 30 minutes which now takes not less than two hours.
Ekiti state Governor, Dr Kayode Fayemi, disclosed in a Radio programme in Ado Ekiti that his administration has made efforts to construct the road, but the Federal Government said it would do it despite the fact that his administration had accessed fund for the road project.
He explained that the fund was given to the Federal Government which, had in turn, awarded the road to a contractor.
“The one that is of major concern to most of Ekiti people is the Ado-Ikere-Akure road, that is one road that we’ve spent more time trying to address than any other road.
“The challenges that we are facing is due to the nature of our federal system. We got money to fix the road, the owner of the road refused, saying that we cannot fix the road.
“We transferred the money to them, they awarded the contract, there is a contractor on the road as we speak, but they don’t have enough allocation from the Federal Government in the budget in order to accelerate the work.
“It’s a N30-Billion contract, but if you check the 2021 budget, only one Billion Naira was allocated for that road.”
It was further gathered that the last time the contractor was seen working on the road was last year when Ondo State Governorship election was drawing closer and withdrew from site immediately after the election.
On pensioners welfare, Governor Fayemi disclosed that his administration has paid over one Billion Naira to ameliorate the suffering of the senior citizens despite dearth of fund in the State.
According to him, Government has already looked for ways through promissory note with financial institutions to access fund to clear the backlog of gratuity, but for one reason or the other, the pensioners rejected the agreement.
The rejection, according to sources, and was due to the insistence by Finance houses to deduct certain percentage from the pensioners entitlements, which they described as outrageous.
The Governor denied that the State collected bailout from the Federal Government to pay arrears of workers’ salaries, saying what the State got was a bridge finance to fill the hole that has been created by the deduction for the repayment of an earlier bailout.
As the 2023 presidential aspiration of Senator Anyim Pius Anyim continues to generate nationwide support, former president of the Senate, Chief Adolphus Wabara and some political leaders in the South East, have expressed their unflinching support for Anyim.
Anyim, a former Senate President, former Secretary to the Government of the Federation, is the only person from the South-east who has publicly declared interest to run for the office of the President, under a major Political Party, the Peoples Democratic Party, PDP.
The leaders are of the view that Nigeria’s former number three citizen, Anyim Pius Anyim, is most suitable for the nation’s top job in terms of leadership experience, national stature, nationwide acceptability, age, maturity, comportment and capacity to manage the country and her economy.
Speaking on Monday, December 27, 2021, at a grand reception and conferment of Chieftaincy title of “Maduforo Nde Ngwa” on the Senate Minority Leader, Senator Enyinnaya Abaribe, by the Traditional Council of Ngwa zone, in Abia state, Senator Wabara called on the Nigerian electorate, particularly the people of the South East zone, to rally round Senator Pius Anyim in his quest to clinch the ticket of his party at the primary and ultimately contest and win the presidency of Nigeria.
Wabara said Senator Anyim has distinguished himself in his previous civil service career and political positions as the President of the Senate and as the Secretary to the Government of the Federation (SGF) and, therefore, will be a fit and proper person to pilot the affairs of Nigeria at this crucial moment of our country’s life.
Chief Wabara added that Senator Anyim is a dependable leader and a team player whose commitment to the unity of the country, rule of law and national equity is renown. He stated that those who have worked closely with Senator Anyim could easily attest to his ever pan-Nigerian disposition and his uncommon courage in the pursuit of true democracy, good governance and commitment to the greatness of Nigeria.
Other leaders of the South East zone and eminent political leaders outside Igboland who were invited guests to the occasion and who spoke at the event, unanimously endorsed Senator Anyim Pius Anyim as the gold hope for Nigeria in 2023.
However, Anyim’s chief host who was being honoured by his Ngwa people, Senator Enyinnaya Abaribe, said it was gratifying that Senator Anyim has declared his interest for the presidency when it appeared no one was stepping out for a challenge. Abaribe urged Nigerians and leaders from all the geo-political zones in the country to invest their trust and support for Senator Anyim.
In his speech at the occasion, Senator Anyim Pius Anyim, commended Senator Enyinnaya Abaribe for his illustrious service to his people which necessitated the chieftaincy title of “Maduforo Nde Ngwa” by the traditional council in his zone.
He stated that what is needed in the country today are leaders that will work for the interest of the people and inspire great hope; leaders who will understand the needs of the people and empathise with them in their problems by finding a lasting mitigation to those challenges.
It was a black Sunday, December 26, 2021 as armed men in uniform invaded St Peter’s Anglican Church Eziama Obaire in Nkwerre Local Government Area, Diocese of Orlu in Imo State and roundly desecrated God’s sanctuary. The officiating priest had barely concluded the celebration and administration of the Holy Eucharist, ready for the end of year thanksgiving, when armed men stormed the church. The Nigerian Police latter explained that it was for the purpose of effecting an arrest.
Much as we are not concerned or interested in the reason for this invasion, which is unprecedented in the more than 160 years history of the church in this state, we are gravely worried and disturbed that worshippers were greatly frightened, worried, confused and completely disorganized by the presence of heavily armed security operatives in the church service thereby disrupting the worship of God’s people. That the police jumped inside the church in a gestapo style when the service was in full session is reprehensible, primitive, and highly condemnable. We are at a great loss why the police decided to throw caution to the winds and completely ignore internationally acclaimed rules of engagement and civility in this matter.
The sporadic gunshots outside the church building sent worshippers scampering in different directions, signaling an abrupt and chaotic end of the service.
While the church is in support of and have always been praying for the success of our security personnel in the daunting task and challenge of securing lives and property in our dear state and every effort at bringing the perpetrators/sponsors of this crime against humanity to book no matter how highly placed, we warn that such acts as the one in issue are capable of worsening the security challenges we are currently facing.
The Church will in the next few days engage the Nigerian Police in a dialogue to truly understand the reasons behind this dastardly act and how to avoid a repeat occurrence. While this process is on, we urge all Christians to continue in prayers for God’s mercy on all of us and peace in our land.
Most Rev. Onuoha is the Archbishop, Anglican Province of Owerri.*
I read with surprise and disappointment comments made by the Minister of Transportation, Mr Rotimi Amaechi, during an appearance on Channels Television wherein he said:
“As former Chairman of the Governors’ Forum, I was told by the security in a meeting chaired by the former President, including the former Minister of Finance, that at every point in time, the Government must leave money behind in case Nigeria goes to war that would last for six months.
“By the time we came, they didn’t leave money behind that could last us for three weeks. And I was speaking at that time as the Chairman of the Governors’ Forum.”
The Minister’s comment is rather unfortunate and not supported by facts readily available in the public domain. As a member of the Federal Executive Council that handed over to the current administration, I am disturbed that this urban myth of “empty treasury” is still the subject of conversation by a senior Government member.
Also, I am confused about what the Honourable Minister means when he says, “By the time we came in”, as he was not appointed Minister until six months after the May 29 Handover. Since he was not a Minister on the handover date, it may be pertinent to present him with the facts again.
Rotimi Amaechi
On May 29, 2015, President Buhari inherited a foreign reserve of $28.6 billion, according to official data still present on the website of the Central Bank of Nigeria, as well as $5.6 billion Nigeria Liquified Natural Gas Limited dividends. Also, a 2015 budget of over 4 trillion Naira was handed over to the incoming administration by the outgoing Jonathan government.
Furthermore, the Jonathan administration left a total of $2.2 billion in the Excess Crude Account on May 29, 2015. (As verified by the Ministry of Finance both by the immediate past minister and the incumbent).
To further create context, I would like the Minister of Transport to note the country’s economic indices after 1849 days of President Jonathan’s Presidency from May 06 2010, the date he took over from President Umaru Yar’Adua to the Handover date of May 29, 2015.
On May 29, 2015, President Muhammadu Buhari inherited an economy that, by the testimony of the World Investment Report, prepared by the Geneva-based United Nations Conference on Trade and Development (UNCTAD), was the number one destination for foreign direct investment in Africa. In the five years of President Jonathan, Direct Foreign Investment stood at about 35.25 Billion Dollars. You can compare this to the 11.55 Billion Dollars Direct Foreign Investment received from 2016 to 2020.
The Jonathan administration handed over a $550 billion economy (largest in Africa and 26th globally) and a diversified economy.
On May 29, 2015, President Jonathan left behind an economy with a stable currency, where the Naira exchanged for ₦199 to $1, and Nigeria had a single-digit inflation rate. Today, after 2406 days of the current administration headline inflation rate hovers above 15%.
Under President Jonathan, the unemployment rate stood at 7.5% (better than European Union) today. According to the National Bureau of Statistics, six and half years after Governor Amaechi’s government came in, unemployment is 33%.
Before the government came in, Nigeria’s poverty rate was 32% as of May 2015. We need not compare it against 71% today after 78 months of President Buhari’s administration.
Our External debt as of May 2015 stood at $7.3 billion, the Gini coefficient (degree of inequality) was not different from China’s as of 2015. In 343 weeks and four days of the current administration, our external debt has ballooned to $37.9 billion as of September 2021. It is important to point out that over 48% are bilateral and commercial loans.
With the facts above, I am sure that the Minister of Transport will rethink his fixation on the past and focus on the clear and present danger of an economy on the path to Argentina – sovereign debt default.
In the face of declining revenues, available public data revealed that external debt servicing gulped $1.82 billion between January and September 2021; this is 43.9% higher than the $1.27 billion spent in the corresponding period of 2020.
In the same period of January to September 2021, Domestic debt servicing rose to N1.74 trillion from N1.53 trillion recorded in the same period of 2020.
These issues should worry the Honourable Minister, coupled with unlocking the asphyxiating gridlock that Apapa port has created in the economy.
2406 days after, a clear 557 days (1 year five months) more than President Jonathan governed Nigeria; this administration’s economic policies and heightened insecurity have left the country comatose.
Minister Amaechi and the APC government should stop this perennial blame game and focus on redeeming its tattered image by signing the electoral bill passed by a legislature it controls.
Osita Chidoka former Corp Marshal, was the Minister for Aviation under President Goodluck Jonathan
As 2021 gradually comes to a climax, Nigerians are waiting patiently for President Muhammadu Buhari to sign the 2022 Budget, as most State Governors have presented their budgets for the New Year to their various Legislative Arms in their States.
Following the anxiety that has greeted the 2022 Budget, President Buhari is set to sign the 2022 Appropriation Bill on Friday, 31st December, 2021.
According to the Presidency, the budget has been transmitted by the National Assembly.
Senior Special Assistant to President Buhari on Media and Publicity, Garba Shehu, confirmed this to Channels Television on Tuesday in Abuja, stressing that the 2022 budget has been transmitted by the National Assembly and the President will sign the bill into law by 10am on Friday morning.
This comes barely a week after the House of Representatives and Senate chambers of the National Assembly passed a budget of N17.126 trillion, increasing the benchmark price of crude from $57 to $62 per barrel.
The dreaded Cult Group that once terrorized suburb areas in Lagos and Ogun State has resurfaced in Agege Local Government area of Lagos State and its environs, causing fear and panic.
The underaged criminally minded Groups have, since the past week, wreaked havoc in the area, robbing residents in daylight, attacking and inflicting injuries on their victims and members of rival Cult groups.
Residents are scampering for safety as the Awawa Boys Cult Group unleash terror on their victims. Shops are under lock and key, as residents move around in fear.
A Youth-based Group in the Agege LG, under the aegis of Concerned Citizen’s of Agege Local Government, lamented that the insecurity that rocks the area is second to none,and is calling on security agencies in the State to come to the aid of Agege residents.
The Group lamented that the Chairman of Agege Local Government, Hon. Alhaji Ganiyu Egunjobi, has remained silent and failed to address the insecurity issue of the LG.
It added that for several weeks now, the LG Chairman has been absent at various functions in the LG, raising concerns over his whereabouts.
According to the Group, “We requested for the whereabouts of the Council boss after his non-appearance at various official functions for several weeks, and his continued silence over the insecurity issues that has led to loss of properties with residents unable to move around and sleep with their two eyes closed.
“We need to know the whereabouts of the Council boss. He was absent at Stakeholders Forum; the Vocational Students Graduation; the Local Government Retirees send- forth program; and the Agege Youth Week (THEME: Youth Impact in Security).
“He has not been physically present in all the above mentioned. As concerned citizens of Agege Local Government we need to know the whereabouts of our amiable Council Chairman. Agege is our Community and we have a right to know his whereabouts.
“Nevertheless, we have the menace of Awawa boys to contend with. They operate in large numbers, at times in daylight, robbing and inflicting injuries on their victims.
“We no longer have a secure and safe society in Agege Local Government. We urge the Council Boss to take concrete measures in tackling the persistent security challenges in Agege Local Government.”
The history of the dreaded Awawa Boys Group started in Agege, years ago, with boys aged between 12 and 20 walk together in large numbers gate-crashing parties and dancing. All disc jockeys knew their preferred tune.
If one didn’t settle them with food and cash, the host and guests were at risk of suffering bodily harm.
They have cult signs and marks on their bodies to show allegiance, and members are recruited from all the communities in the State and beyond.
Intelligence report by the Police revealed that they used their teenage girls to target men after which they would dispossess their victims of all their cash and valuables.
It would be recalled that during the reign of Muazu Zubairu as the Lagos State Police Commissioner, the Command arrested 34 arrowheads of the Awawa Group in one swoop through Operatives of Operation Crush who raided their hideouts within Agege area of the state after credible intelligence.
They were forced to move out of Lagos State as the State Police Command unleashed terror on them.
Now, they are gradually regrouping and causing havoc in Agege and its environs.
The Nigeria Labour Congress, (NLC), has put on alert its Leaders across the 36 States of the Federation and the FCT about a possible nationwide Protest by January 27th, 2022.
The planned protest is hinged on the possibility of the Federal Government increasing the pump price of Petroleum products in the New Year.
NLC General Secretary, Emmanuel Ugboaja, in a letter dated December 20th, 2021, explained that the planned action against the Federal Government’s intention was sequel to the decision of the NEC reached at its meeting on Friday, 17th December, 2021.
According to the NLC scribe, other crucial decisions were also taken at the meeting of the highest decision making body of the Union.
“It is in furtherance of the said decisions that we write to inform you that 27th of January 2022 was picked as a day that Congress led protest rallies will hold in the 36 States of the Federation, against the plans of the Federal Government to increase the Pump Price of Petrol.”
The letter further requested State Chairmen of the NLC to convene a State Executive Council (SEC) meeting to map out strategies to ensure the success of the planned action in their respective States.
They were, also, urged to reach out to Civil society allies in their respective States for mobilization.
It added that a central working committee member of the NLC will be on hand on the day of the rally with the protest letter to be submitted to the Governor of each of the 36 States of the Federation.
There have been reports that the Federal Government is set to increase the pump price of petrol in the new year to as much as N340 per liter.
The increment, according to Government spokesmen, is premised on total withdrawal of subsidy on petrol.
Petrol sells currently in the country for between N165 and N170.
Ondo State Governor, Mr Oluwarotimi Akeredolu (SAN) has extended a gesture to parents whose wards are in final year classes in public schools in the State. He has approved funds for the payment of the 2022 West African Senior Secondary Schools Certificate Examination (WASSCE) registration fees.
Details of the approval, as announced by the state Ministry of Education indicate that only students in Senior Secondary School class three, in all Public Secondary Schools in the State are to benefit.
The Ministry of Education, Science & Technology confirmed the receipt of Mr. Governor’s approval of a sum of N515 Million Naira to cover the registration fees for all eligible Candidates and WAEC Charges for all Public Secondary Schools across the State.
Governor Rotimi Akeredolu.
The Commissioner, Mr Olufemi Agagu described the gesture as historic and thanked the Governor for his magnanimity.
According to him, the gesture was borne out of Mr. Governor’s desire to uplift the standard of education in the state, as well as his resolve to assist indigent students in achieving their educational pursuit.
Mr Agagu noted that the gesture would go a long way in ameliorating the burden of parents, and urged all stakeholders to support the Governor in his efforts at uplifting the standard of education in the State.
The Government, earlier this year approved and paid in full, the 2021 WASSCE registration fees for all SS3 students in Public Secondary Schools in the State.
It was gathered that not less than 15 thousand students spread across 180 public secondary schools are expected to benefit.
Further checks in the State revealed that each student in private secondary schools is expected to pay between N60 thousand and N80 thousand before such can be registered for the external examination.
The State Government has made it clear to parents whose children attend private institutions that its regulatory control of such institutions do not cover payment of fees.
Prof. Banji Akintoye, one of the strong voices and arrowhead of the Yoruba Nation agitation has unveiled a Mobile App called ‘Pajawiri’, in local parlance, which means ‘Emergency’, to track activities of Kidnappers and Fulani Herdsmen in the South West.
The renowned historian and leader of the umbrella body of Yoruba self-determination group, Ilana Omo Oodua, said the Mobile App is designed to track kidnappers and kidnapped victims in the South West zone of the country for immediate rescue.
Akintoye made the intention of launching the Mobile App and what it tends to achieve at an event in Ibadan, Oyo State Capital.
According to him, the application will expose criminal elements wherever they are with their victims, once the victims have the application installed in their phones, either on or off.
He said the security system, which can be downloaded on Play Store, also, has another system called ‘Afinihan’ that can be used by those without android phones to link up with those with the full application.
We have now proven to the world that we cannot be captured nor be subdued. We are too intellectually sophisticated to be subdued.
“It is these innovations and intellectual powers that we will deploy to get ourselves out of the quagmires of Nigeria,” the 86-year-old said, according to a statement by his spokesman, Maxwell Adeleye.
Continuing, he said, “Those in possession of the ‘Pajawiri’ app on their telephone, will be able to activate the app instantly, whenever they find themselves in danger. By activating the App, they will be able to alert their families, their friends and their neighbours that they are in danger and that they need help.
In that way, no Yoruba person needs to be alone anywhere on their farms, schools, market places, shops and anywhere else. Any person who finds himself threatened by danger and who is in possession of Pajawiri will be able to alert other persons for help.”
Akintoye had been seen at Yoruba Nation rallies with embattled agitator, Sunday Adeyemo aka Sunday Igboho, before the latter’s arrest on July 19, 2021, at an airport in the neighbouring francophone West African nation.
Akintoye, who joined the event virtually from the Benin Republic, said the emergence of Pajawiri is evidence that the Yoruba people are too intellectually sophisticated to be subdued crime and curtail it to become minimal.
