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DMO: Investors Faith In Nigeria’s Economy Remains Strong

By
Bayo Bernard
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0

By Tosin Olatokunbo

The Debt Management Office, DMO has disclosed that the success of the $4 billion Eurobond issues by the federal government is an indication that investors still have solid faith in the nation’s economy.

The Buhari administration, last week, issued the bond as part of its ongoing drive to raise funds to finance the 2021 Budget deficit.

The bonds pushed the country’s total debt to over $40 billion amidst criticism that the debt will soon become unsustainable. Critics of the government said it should look inward to raise funds, by plugging loopholes, expand the tax net and cut down bogus spending on government bureaucracy.

In spite of public angst against the government for raising the nation’s debt from barely $13 billion in 2015 when President Buhari took power to $40 billion, the DMO which recently urged the government to stop borrowing for consumption, said creditors have not lost interest in the economy.

Patience Oniha, DMO Director-General made this known at a panel session to mark the 30th anniversary of the Finance Correspondents Association of Nigeria, FICAN) in Lagos.

The DMO boss who was represented at the event by Joe Ugoala, Director, Operational/Research Department stated that the government was surprised at the oversubscription of the Eurobond, as the initial plan was to raise just $3 billion.

According to her “In the last edition that we just did where the country raised $4bn, the idea was that we could raise a minimum of $3bn, and we found out that people still have interest in our country.

“Even though we seem to have doubts, the international investors still have faith. They still believe in the fundamentals of this economy. We were asking for $3bn, we ended up having $12.2bn, which was almost 400 percent of what we actually asked for.

“We have to say this because of our approval from the National Assembly which is within the requirement of the Appropriation Act.

“So, what the country took from that outing was $4bn out of the $12.2bn. You can see that there is so much interest in Nigeria’s instrument across Asia, America, Europe, and other parts of the world.

“The country issued three instruments: three tranches of the seven-year instrument, 12-year instrument, and 30-year instrument. What this means is that if private domestic investors go offshore to borrow, their instruments can be priced as of the sovereign.”

She explained that the government decided to look for other sources of capital to fund critical infrastructure across the country.

According to her “There must be creative ways of opening up the system to enable us to bring the private sector, where we can pool the capital to fund infrastructure,” she suggested.

“That has started with what we are doing with the road clean-up infrastructure; with Dangote trying to take care of some roads.

“Some other private sector players will enjoy that tax incentive to encourage them to participate, bearing in mind that the government alone cannot do it.”

OPINION: Using Legislative Powers To Entrench Electoral Fraud In Nigeria!

By
The Source
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0
Ugochukwu Ejinkeonye

By Ugochukwu Ejinkeonye

There is no doubt that members of Nigeria’s National Assembly have grown too big for their boots and it is time the Nigerian people are massively fed with the liberating enlightenment that they possess the powers to cut them to size. Yes, the lawmakers need to be served an urgent reminder that they are in that Legislative House because the people have so far chosen to tolerate their deficient representation and can wake up one morning, decide that they have had enough of their abject lack of patriotism, suffocating arrogance and insensitivity and ask them to pack their loads and return home.

Their recent decision to brazenly sabotage the yearning of Nigerians for a more transparent and credible electoral process by voting against electronic transmission of results only served to open the eyes of many Nigerians to the extent these lawmakers have convinced themselves that they have become untouchable emperors who can ride roughshod on the citizenry and abort their most cherished aspirations without the minutest fear of any consequence.

Free and fair elections have been denied Nigerians for years. From the polling points to the collation centres, lots of distortions take place. Nigerians have been yearning for their electoral process be fully computerised, climaxing in the electronic transmission of the results of the votes counted in front of party representatives and independent observers, and then transmitted to the server of the Independent National Electoral Commission (INEC). Nigerians can’t wait to see the end of multiple and underage voting and diverse electoral malpractices. In fact, the expectation is that any Nigerian with access to the internet anywhere in the world can long onto the INEC website and monitor the progress of the elections.

At the very few places where internet reception might be weak, the electoral officers can still post the results and move together to a place where the internet is stronger and their post will just fly onto the INEC server!

But by their very insensitive and odious rejection of this transparent and reliable process, the lawmakers have now shed every pretense that they are at the Legislative Chambers to advance the cause of the Nigerian people. In fact, they have decided to rudely flaunt it on everyone’s face that they are there to simply pursue their selfish interests and there’s just nothing anybody can do about it. And so, with the fear of any threat to their high-paying offices totally erased, they have recklessly deployed their legislative powers to further corrupt the country’s electoral system in order to callously ensure that no matter the choice of the electorate at the polling centres, the incestuous camp of “winners” will always bristle with crude and criminal characters whose only hope of emerging victorious in every election is their willingness and ability to indulge in electoral fraud and violence.

What this calls the attention of well-meaning Nigerians to now is that the people have allowed political office holders to unduly exaggerate and rudely misuse their powers. There is therefore an urgent need to mount at every corner of this country where patriotic citizens are found an overwhelming enlightenment about how the masses can easily kick them out of office instead of continuing to endure the long and painful wait for the next elections, whose free and fair conduct cannot even be guaranteed, given their egregious preference for a crude, outdated and easily manipulatable process.

The media and Civil Society Organisations (NSO) should, therefore,   urgently collaborate to cause every Nigerian to know very clearly that by just volunteering his or her signature, the seemingly powerful senator or representative could just lose his or her job. When this awareness is made to sink deep both in the masses and the political office holders themselves, they would begin to pause and weigh their options before casting their votes for any obnoxious piece of legislation presented on the floor of the House.  And as long as this succeeds in humbling political office holders and causing them to realize that they are not some medieval overlords commissioned to oppress Nigerians and perpetually mortgage their lofty aspirations for their country, any fear about any abuse of this constitutional provision to recall lawmakers is premature or even needless.

Now, think about this: almost every Nigerian out there today is waiting with bated breath for 2023 and hoping that the current regime which has supervised over so much depreciation, lack, pain, sorrow, suffering and division would quietly exit because in Nigeria, it is almost abominable for anyone to even imagine the impeachment of a president. It is like the heavens will fall at the mere thought of it. This mindset must change if the country must make progress. The people can demand this from their lawmakers, and if they refuse, the process of their recall will be kick-started. The same thing should be replicated in the states. Lawmakers should seek only welfare of the citizenry and there should be consequences if they fail to do so.

This will also now make them readily accessible to their constituents as is the case in more stable democracies. People should be able to go to their representatives and present them with a catalogue of demands they expect them to table at the House on their behalf. And they would readily do this because they know that they are there by the permission of the people. No lawmaker, therefore, will go to the Legislative Chamber to advertise abject lack of patriotism and irresponsibility, knowing full well that that is enough to earn him or her instant recall.

It is sad and scandalous that the ruling All Progressive Congress (APC) which has administered nothing but sorrows and hardships on Nigerians is scared stiff of a transparent electoral process that might automatically demobilize its rigging machines. That is why it used its majority at the National Assembly to kill the possibility of transmitting results electronically. In the recently passed Electoral Act Amendment Bill 2021, the APC lawmakers succeeded in disempowering the INEC and conferred on the National Assembly (where the APC has overwhelming majority) the power to collude with the National Communication Commission, NCC, (an agency of the APC-controlled Federal Government) to determine whether election results should be transmitted electronically. Yet all these people regularly and easily transfer money to their relatives in very remote villages and equally speak to them on the phone.  It is only when it concerns elections that they suddenly realise that there is no network in very many communities in Nigeria? How far are these fellows willing to go to leave Nigeria stuck in the distant, primitive past just because of their phobia for a   transparent electoral process?

Well, there is no use sitting at one place and whining over a matter that can easily be solved. The people have so far allowed their constitutionally guaranteed power to recall unpatriotic lawmakers to remain latent. They should now rise and underline their resolve to use it for the good and progress of the country. Lawmakers should be made to know in very plain language that the people have had enough of their waywardness and retrogressive actions and will no longer tolerate any of them that advocates the perpetuation of crude and outdated systems which lack the capacity to keep the fraudulent activities of political crooks in check.

*Ugochukwu  Ejinkeonye, a Nigerian writer and journalist, is the author of “Nigeria: Why Looting May Not Stop” ([email protected])

Navy Says Nigeria Needs Walls, Not Bases To Checkmate Boko Haram, Bandits

By
Bayo Bernard
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0

By James Orji

The Nigerian Navy says the only way out of the problem of insecurity facing the country is to build walls across the nation’s borders, to forestall the movement of arms and ammunition into the country.

The assertion was made on Monday by Commodore Jemima Malafa during an interactive session with the House of Representatives Committee on National Security, in Abuja, coming on the heels of trenchant criticism against the federal government’s decision to establish a naval base in landlocked Kano state. The government said the Base will compliment other military actions in the north.

“The base in Kano is intended to be home of the newly created Nigerian Navy Logistics College. For the benefit of doubt and the reading public, the Nigerian Navy is currently involved in various internal security operations beyond its primary maritime security roles. Aside from serving as a training establishment for Nigerian Navy logisticians, the base will also support NN operations in the hinterland,” Suleman Dahun, Navy Spokesman said.

Speaking, Malafa who represented the Navy at the hearing involving other security agencies in the country, said it will be very difficult to check the activity of Boko haram, bandits and other criminals if they continue to have unfettered access to weapons and ammunition.

There are hundreds of unmanned borders across the country which groups such as the ISWAP, Boko Haram and bandits capitalise on to bring weapons into the country.

Two years ago, President Muhammadu Buhari ordered the closure of all the nation’s land borders to checkmate the movement of dangerous arms into the country, the action security experts said had barely worked.

For instance, analysts insist that free access to weapons has helped the Islamic extremist group to hold the country on the jugular for more than 11 years, after killing more than 40, 000 people across the North east part of the country.

The terrorist group  still has under their control swathes of lands in the Northern part of the country, where they have already declared an Islamic Caliphate. The federal government denied the insurgents are in control of any territory in the country.

The Nigerian armed forces have neutralized many terrorists in recent times while several hundreds have also surrendered.

But the activities of bandits in the North West have also tried the effort of the government to bring insecurity under total control.

The bandits who kidnap women, school children for ransom have shut down the entire north west region, until recently when the military launched an all-out war.

Watchers of events in the country said it will be impossible to bring the activities of the criminals under total control unless their sources of weapons are blocked.

This suggestion resonates with Malafa’s view that the only way out of this problem is that “we should build a wall between our country and the neighbouring countries.

“I was in Chad recently and discovered that most of the countries that surround us do not have armouries and that is why most of their citizens get arms that they sell to make money. I blame foreign countries that sold and donated arms and ammunition for them without recourse to where they would keep them after use. It is as a result of this that Nigeria is in deep crisis; these arms and ammunition will always find their way to Nigeria.”

Meanwhile, the News Agency of Nigeria, NAN reports that the National Assembly is in the process of passing an act to establish the National Commission against the proliferation of Small Arms and Light Weapons.

The lawmakers are working on a bill for an act to repeal the Explosives Act, and a bill for an act to make provision for the integration of private Close Circuit Television, CCTV into the national security network in Nigeria.

There is also a bill for an act to designate the month of November as the National Appreciation Month for Security Agencies, the news agency said.

For The Records: Full Text Of The Resolutions Issued By The Northern Governors Forum

By
The Source
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0

Full Text Of The Resolutions Issued By The Northern Governors Forum At The End Of Forum’s Meeting on September 27, 2021.

RESOLUTIONS OF THE NORTHERN STATES GOVERNORS’ FORUM MEETING WITH NORTHERN STATES EMIRS AND CHIEFS HELD ON MONDAY 27TH SEPTEMBER, 2021

The Northern States Governors’ Forum, in its continuous efforts to address the challenges bedeviling the Northern States convened an Emergency Meeting today Monday 27th September, 2021 at the Council Chamber Sir, Kashim Ibrahim House, Kaduna.  The meeting was also attended by Chairmen of Northern States Traditional Council led by His Eminence the Sultan of Sokoto.

  1. The Forum discussed issues of Peace, Progress, Development and well-being of the Northern States. The Forum took stock of progress made in handling challenges of Banditry, kidnapping, armed robbery and insurgency.

After extensive deliberations, the following resolutions were arrived at:-

  1. The Forum reviewed security updates from the Region and observed the need for a sustained synergy and coordinated efforts between the Federal and Northern States Governments while noting success of recent measures. The meeting also noted with concern the constraint of the security services and urged the Armed Forces to embark on simultaneous operations and resolved to share the plans of the Frontline States come up with common with other Region; and assured of its readiness to work in synergy with the Federal Government of Nigeria in finding lasting solution to the current security challenges.
  2. The Forum appreciated the ongoing onslaught against banditry, kidnapping and Boko Haram especially in the North East and parts of North West and North Central States and encouraged the Armed forces and other security agencies to sustain the tempo to enable the security challenges be permanently addressed in the shortest time.
  3. The Forum received updates on the Renewable / Solar Energy Project and NOTED that request for land for the project had been submitted and are being processed by the Northern States. The Committee had commenced negotiations in a public private arrangement and sovereign guarantees to ensure bankability of the project by multilateral financial organizations.  The Forum called on States yet to process the request for allocation of land for the project to expedite action.
  4. The meeting received updates on activities of some Committees constituted by the Northern States Governors’ Forum and NOTED that recommendations contained therein are being considered with a view to coming up with implementation strategies.
  5. The Forum observed that some Northern States Governors had earlier expressed views for a power-shift to three Geo-Political Zone in the South with a view to promoting unity and peace in the Nation. Notwithstanding their comments, the Forum unanimously condemn the statement by the Southern Governors Forum that the Presidency must go to the South. The statement is quite contradictory with the provision of the Constitution of the Federal Republic of Nigeria (1999) as amended that the elected President shall:-score the majority votes; score at least 25% of the votes cast in 2/3 States of the Federation.

In the case of run-up simple majority win the election.

  1. The Northern State Governors Forum considered the on-going National debate on the collection of Value Added Tax (VAT). As responsible leaders while we are constraint by the fact that the matter is sub judice we however for the purposes of educating the public make the following observations:

(a) the judgement of the Federal high Court calls to question the constitutionality of VAT, withholding tax, education tax, Niger Delta Development Commission, National Information Technology Development Agency, 13% derivation, National Economic Development Council and many other currently levied and collected by the Federal Government of Nigeria, Federal Inlands Revenue Service.

(b) Rivers and Lagos State Government had enacted their own VAT laws and the Southern Governors Forum have expressed support for this course of action;

(c) VAT is being confused by these State Government as a sales tax. If every State enacted its own VAT Law, multiple taxation will result in increases of prices of goods and services and collapsed in interstate trade. VAT is not a production tax like excise, but terminal tax which is paid by the ultimate consumer;

(d) Another confusion is ignoring observation above and its “overall effect”.  The reason Lagos account for our 50% Vat collection is because most of the telecommunication  companies, Banks, manufacturing and other trading activities have their headquarters in Lagos with the resultant and wrongful attribution of VAT

(e) Until and unless the Supreme Court pronounces judgement on the substantive matter between Rivers State and Federal Government, the matter is sub judice and Northern States Governors Forum would respect this.

  1. The Traditional Rulers Councils appreciated the efforts made so far by the NSGF in addressing the key areas of challenges facing the Northern States, they expressed their willingness, solidarity and collaboration with the Governors’ in addressing these challenges particularly the issue of security. It was equally resolved that perpetrators of crimes should be dealt with irrespective of their status in the society.
  2. The Forum decried the high level of conspiracies being perpetrated by some Judicial Officers in releasing / granting bail to arrested criminals. This attitude sabotages the fight against criminality, therefore, there the need to develop good and robust intelligence mechanism amongst States was identified as a panacea.
  3. The Forum calls on Agencies to leave up to their responsibility, Traditional rulers are to equally mobilize their various communities in checkmating the ugly trend of criminality in their domains.
  4. The Forum NOTED the ugly trend in the spread of drugs and consumption amongst the teeming youth and therefore, calls on all levels of Governments and communities to raise to the occasion by stemming the tide.
  5. The Forum also call the Federal Government to expedite action on the well establish National Livestock Transformation Programme as a spring board in transiting from the open grazing system as widely practice in the North

His Excellency, Rt. Hon. Barr. Simon Bako Lalong KSGG, Chairman, Northern States Governors’ Forum.

2023: Northern Governors Slam Southern Governors; Say Agitation For Southern President, Unconstitutional

By
Ayodele Oni
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0

By Ayodele Oni

The Northern Governors rose from their meeting on Monday with a condemnation of their counterpart in the South for agitating for zoning of the President to the area in the next dispensation.

The meeting, held under the auspices of Northern Governors Forum, in a communiqué, “observed that some Northern States Governors had earlier expressed views for a power-shift to three Geo-Political Zone in the South with a view to promoting unity and peace in the Nation.

“Notwithstanding their comments, the Forum unanimously condemn the statement by the Southern Governors Forum that the Presidency must go to the South.

“The statement is quite contradictory with the provision of the Constitution of the Federal Republic of Nigeria (1999) as amended that the elected President shall:-

*Score the majority votes; *Score at least 25 percent of the votes cast in two third States of the Federation.

*In the case of run-up simple majority win the election.”

The meeting, which was held in Abuja, also had in attendance some Emirs from the zone.

The communique, signed by the Chairman of the Forum, Governor Simon Bako Lalong KSGG, did not state specific position of the Governors on the Value Added Tax, (VAT) currently being fought by some Governors in the South.

“The Northern State Governors Forum considered the on-going National debate on the collection of Value Added Tax (VAT). As responsible leaders while we are constrained by the fact that the matter is subjudice we, however, for the purposes of educating the public make the following observations:

“The judgement of the Federal High Court calls to question the constitutionality of VAT, withholding tax, education tax, Niger Delta Development Commission, National Information Technology Development Agency, 13 percent derivation, National Economic Development Council and many others currently levied and collected by the Federal Government of Nigeria, Federal Inlands Revenue Service.

“Rivers and Lagos State Government had enacted their own VAT laws and the Southern Governors Forum have expressed support for this course of action. VAT is being confused by these State Government as a sales tax.

“If every State enacted its own VAT Law, multiple taxation will result in increases of prices of goods and services and collapse in interstate trade. VAT is not a production tax like excise, but terminal tax which is paid by the ultimate consumer;

“Another confusion is ignoring observation above and its “overall effect”.  The reason Lagos account for our 50 percent VAT collection is because most of the telecommunication companies, Banks, manufacturing and other trading activities have their headquarters in Lagos with the resultant and wrongful attribution of VAT.

“Until, and unless, the Supreme Court pronounces judgement on the substantive matter between Rivers State and Federal Government, the matter is subjudice and Northern States Governors Forum would respect this.”

On security, “the Forum reviewed security updates from the Region and observed the need for a sustained synergy and coordinated efforts between the Federal and Northern State Governments while noting success of recent measures.

“The meeting also noted with concern the constraint of the security services and urged the Armed Forces to embark on simultaneous operations and resolved to share the plans of the Frontline States come up with common with other Region; and assured of its readiness to work in synergy with the Federal Government of Nigeria in finding lasting solution to the current security challenges.

“The Forum appreciated the ongoing onslaught against banditry, kidnapping and Boko Haram especially in the North East and parts of North West and North Central States and encouraged the Armed forces and other security agencies to sustain the tempo to enable the security challenges be permanently addressed in the shortest time.”core the majority votes; score at least 25 percent of the votes cast in two third States of the Federation. In the case of run-up simple majority win the election.”

The meeting, which was held in Abuja, also had in attendance some Emirs from the zone.

Enugu; IPOB Stay at Home Continues As Hoodlums Kill Man, Set Bus on Fire

By
Uche Mbah
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0
Enugu IPOB Sets Bus Ablaze

By Uche Mbah

Violent attacks and fear of the unknown have forced people in the Eastern States to continue to stay at home even after IPOB and other affiliated groups have given counter orders calling off the sit at home.

In Enugu State, on Monday September 27, a young man was publicly shot inside his car and dragged down. When the hoodlums saw that he was not dead, he was shot again at close range.

In another incident, a bus carrying foodstuffs was set ablaze. Both tragic incidents are  believed to have  been carried out by those enforcing the sit-at-home order.

It is not clear whose order they claim to be obeying.

Since the sit-at-home order by IPOB started, more than four buses plus a number of tricycles and motorcycles  have been burnt by sit-at- home enforcers.

The bus was said to be coming from the North via the Nsukka gateway when they were ambushed by the hoodlums who set the bus and its contents ablaze.

There were no casualties, but the Enugu fire service rushed to the scene to put out the fire.

IPOB: Igbo People Relocating Out Of Igboland – Joe Igbokwe

By
Adesina Soyooye
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0
Prof George Obiozor - Ohanaeze President

By Adesina Soyooye

Indigenes of the South-east Zone of Nigeria, the Igbo, are relocating out of the region to other regions in Nigeria. This assertion was made by Chief Joe Igbokwe, a chieftain of the All Progressives Congress, and Special Assistant on Water and Drainage to Lagos State Governor.

Igbokwe, from Nnewi, South-east, said the people are relocating in droves because of the fear of, and activities of the Indigenous Peoples of Biafra, IPOB. He said they are fleeing to avoid   what he described as the “assault on them by heartless IPOB Bandits.”

He was reacting to IPOB’s latest orders of a sit-at-home  on October 1, 2021, and the removal of the Nigerian Flag from the Zone.

The orders have been greeted with outrage by a cross section of people and groups including the Nigeria Police Force, the Igbo Apex Cultural body, Ohaneze Ndigbo, and the Ijaw National Congress, INC.

October 1st, 2021, is Nigeria’s 61st Independence  Anniversary.

In a post, Igbokwe lamented  what IPOB has wrought on the South-east, and disclosed that Igbo people were now relocating to States outside the South-east to escape assaults insults and violent death.

On the order against October 1, Igbokwe described it as an affront to  the State of Nigeria, and called on State Governors and the Igbo who-is-who to step in arrest “the excesses of IPOB” before it is too late.

Igbokwe: “IPOB’s threat to attack the Nigerian flag on October 1st, 2021 in the South-east should not be treated with kid gloves.

“The sit-at-home order on that special day, and Independence day is an to the Federal Republic of Nigeria. This is an attack on the corporate existence of Nigeria as a political entity and no Nation, big or small, will take this threat lightly.”

Igbokwe, also, warned that the action has consequences.

Chief Joe Igbokwe
Chief Joe Igbokwe

He wrote: “ACTIONS CARRY CONSEQUENCES!!!

The South-east Governors, Senators, HORs, South-east State Assemblies, the Speakers, Ohaneze Leadership, First Class Traditional Rulers, the Egg Heads, University Teachers, Business Tycoons, Intelligentsia, Market leaders, prominent politicians, etc, should rise up to check IPOB excesses in Igboland.

“Our people are relocating out of South-east to Delta State and some other States  for fear of attacks and assaults by heartless IPOB bandits.

“They have killed Policemen, attacked Police formations, burnt Police patrol vans, killed Soldiers, killed Priests, they have killed our people, looted their shops and countless atrocities which time and space will not permit me to mention here.

“Those who are pushing for this brigandage in the South-east are the lowest of the low in Igboland. They do not represent the thinking and aspirations of the vibrant SE citizens. I repeat that an attack on Nigeria’s Flag is an attack on Nigeria.”

IPOB, a secessionist group proscribed by the FG in 2017, has been pushing for an independent Republic of Biafra (comprising the South-east Zone), a consequence, the group claims, of persecution and marginalisation of the people.

Its Leader, Mazi Nnamdi Kanu is in the custody of the Federal Government facing prosecution at a Federal High Court, Abuja, over sundry allegations, including treasonable felony and murder.

To pressurise for his release, IPOB had imposed a weekly (Mondays) Sit-At-Home order on the South-east Zone. It later reduced it to only the days Kanu would appear in Court.

That has not, mostly, been complied with by the people out of fear since some elements are still bent on enforcing the order.

A few days ago, IPOB said it would lock down the South-east for a month if Kanu does not appear in Court on the next adjourned date, October 21, 2021. The last time his case was called up, he was not brought to Court over what authorities say was “logistics reasons.” IPOB says its a grand plan to keep him in custody in perpetuity.

Sadly, the orders by IPOB have had no effect on the Federal Government, or on Kanu’s fate. Instead, it has ushered in untold hardship, unprecedented violence, blood, tears and sorrrow, and destruction and disruption, and deaths to the South-east.

And, now, according to Igbokwe, an exodus of the people from their own Igboland.

Economy: PDP Reiterates Emefiele’s Sack As CBN Governor, Claims APC Is Shielding Him

By
Akinwale Kasali
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0
Godwin-Emefiele-CBN-Governor

By Akinwale Kasali

The Peoples Democratic Party, PDP, has again  demanded for the immediate sack of the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, over the State of the Economy.

The Nigeria has depreciated to N580 to a Dollar.

The party accused President Muhammadu Buhari and the All Progressives Congress, APC, of being corruptly minded, shielding anf retaining Emefiele despite the state of the Naira to the Dollar.

A statement by the PDP National Publicity Secretary, Kola Ologbodiyan, titled; ‘PDP to APC: You Have Admitted to Wrecking the Naira’, in Abuja, on Sunday, PDP said the President Buhari administration is sabotaging the economy and making life difficult for Nigerians by retaining Emefiele who they claim have successfully supervised the looting of the treasury of the country.

The statement reads in  parts:“Our party insists that by the comments of the APC National Secretary, Senator John Akpanudoedehe, the APC deliberately kept a CBN Governor that supposedly supervised the ‘sharing and looting’ of monies in office to enable APC leaders to pillage the CBN.

“We call on the APC and the Buhari Presidency to come clean on their activities in the CBN that have brought the value of our naira to her knees and stop the horrible resort by the APC to blackmail those who are demanding transparency and accountability in the nation’s fiscal sector.”

This is the second time the PDP has called for Emefiele’s sack within a few days.

NGF Chairman, Dr Fayemi, Canvasses Joint Ownership Of PIA Incorporated Ventures

By
Ayodele Oni
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0

By Ayodele Oni

Chairman, Nigeria Governors Forum, (NGF), Dr Kayode Fayemi, has said any venture that emerge out of the Petroleum Industry Act, should not be sole property of the Federal Government.

Dr Fayemi pointed out that “We do not believe that the Ministry of Finance (incorporated) and the Ministry of Petroleum Resources should be the sole owner of the company that has emerged out of the Petroleum Act.

According to him, “this is because we believe that the entire body of petroleum institution is the product of the federation and not the Federal Government.

“And we have suggested that the one body that belongs to both the Federal, State, and Local Governments is the Nigerian Sovereign Investment Authority in which we (the states) are all shareholders and if it is held in trust by the Authority, then we are a lot more comfortable in seeing that as a federation company rather than a Federal Government company.

“The second concern that we have expressed relates to the depletion of the federation account by the various percentages that have been earmarked for frontier states and host communities of the petroleum product. Without prejudice to what the host communities deserve.”

Dr Fayemi was speaking Sunday evening during a live television programme on THISDAY LIVE, an interview programme on ARISE TELEVISION monitored in Ado Ekiti.

On VAT controversy, on which Lagos and Rivers states have gone to court, the NGF chairman said: “For us at the Nigerian Governors’ Forum, this is an issue that we are looking both legally and politically.

“But our take on this is that the Supreme Court should accelerate its decision so that we have clarity over who should be in charge of Value Added Tax (VAT). Whether it is the Federal Inland Revenue Service, or States.

“States that have gone to court believe clearly that this responsibility evolves according to their own understanding of what the constitution says.

“The important thing is that our tax system is problematic, confusing, and contradictory. We need to do a lot more to clarify things so that it can give room for more efficient and effective collection of taxes.

He was of the view that there was nothing wrong in Federal Government’s decision to borrow money to finance projects, advising that there was the need to channel borrowed funds to regenerative ventures  to strengthen the nation’s economy and generate more jobs for the citizens.

“The President Buhari administration ought to be commended on the utilization of money being borrowed. It has utilized these monies more on infrastructure development than consumption which has aided economic growth.

“Clearly, it would be great not to borrow but it would also be great to redirect the funds that we have to regenerative areas of our economy. Realistically, we have a revenue challenge which has not enabled us build an economy that responds to the yearnings of Nigerians.

“I don’t think there is anything wrong in the President as a major voice in international affair, particularly in Africa and the black world calling for a review of debt management and arrangements.”

Despite the economic challenges and hardship being faced by Nigerians, Dr Fayemi was optimistic that the All Progressive Congress, (APC) would still coast home with victory during the 2023 elections.

“Contentions are always going to happen. APC is a big Party with different tendencies and there will be contentions for and against.

“We are very confident that this Party will produce the next government in this country in 2023 but before we get there, we are more focused on the country now. The Party is more interested in the stability and security of Nigeria. What is happening internally is something we will resolve internally.”

October 1: Uzodinma Says Imo Will Not Tolerate Sit-At-Home Order

By
The Source
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0
Hope Uzodinma

Governor Hope Uzodinma has declared that Imo State will not tolerate a sit-at-home order on Friday, October 1. The Indigenous People of Biafra, IPOB, had ordered it, as well as ordering all Nigerian flags to fly at half mast in the South-east Zone. According to IPOB’s plan, the flag aspect of their order ought to have started on Saturday, September 25.

IPOB, a separatist group is asking for an independent Biafra, and using the sit-at-home order, which was weekly, to pressurise the Federal Government to release its leader, Mazi Nnamdi Kanu, who is under detention and undergoing prosecution for sundry offences, including treasonable felony and murder.

October 1 is Nigeria’s 61st Independence anniversary.

But Uzodimma, while congratulating Nigerians on the 61st Independence Anniversary of the country said  IPOB’s order will not be tolerated in the State. Instead, he  urged Nigerians to maximise the things that unite them for a greater Nation.

The Governor  spoke on Sunday while addressing the congregation at a special Church Service at the Government House Chapel, Owerri ahead of  October 1, 2021.

Governor Uzodimma reiterated his belief in the unity of Nigeria and called on all Nigerians and Imo State citizens, in particular, to “eschew bitterness, rancour, sentiments and emotions, drop all the differences in us and maximize those things that unite us for a greater  Nigeria.”

According to a release by his Media Adviser/Chief Press Secretary, Oguwike Nwachuku, the Governor  called on the leadership of the country at all levels to “think of a greater Nigeria by tackling governance in the best way that will benefit our people.”

The Governor, who has just returned from a week-long official visit to Abuja to follow up on approvals arising from President Muhammadu Buhari’s visit to Imo State recently told an elated audience that the trip yielded a lot of benefits to the State.

The benefits from the Presidential visit, the Governor informed include, the President’s approval for the installation and conversion of Otamiri River to a Dam capable of powering a10 mega watts plant that can generate electricity when completed and help improve water supply in the State. He said it was a fallout from the Balloon driven technology underground tunnel which Mr. President commissioned.

Also, the Governor announced that another gain from his follow-up visit to Abuja is the visitation by Vice President Prof. Yemi Osibanjo to Imo State on October 15 to administer the N12billion empowerment programme to the private sectors, traders, artisans and vulnerable groups as approved by the President for  Imo State citizens.

Furthermore, the Governor also hinted that the Federal Government has graciously included Imo State as a beneficiary of its special Agric Processing Zone Project for Livestock and out of the seven States in the country that the Federal Government is billed to spend $850 million, Imo State is Number two and will get a whooping $120million.

Besides, the Governor told an elated congregation that the Federal Government under the leadership of President Buhari has secured $1.4billion facility from the World Bank for Urban and Rural Water development and that Imo State is one of the States approved from the Six geopolitical zones in the country to benefit from the programme, representing the  South East Geopolitical Zone.

Governor Uzodimma also explained the position of the State on the oil wells located in Imo State that were ceded to Rivers State for about 20 years now.

He said  though the boundary adjustment Committee through boundary demarcation had given back the oil wells to Imo State, the Rivers State Government had taken the matter to the Supreme Court, all in an effort to continue to deny Imo State what belongs to her.

Governor Uzodimma expressed disgust that even when some of the wells are located in local Governments in Imo State such as Ejemekwuru in Oguta LGA,  yet Rivers State, in collaboration with some selfish elements from Imo State who are benefiting from the scam, are bent on turning the table against Imo State.

The Governor however expressed confidence that “Imo State will eventually get justice at the Supreme Court and get back what belongs to her,” and that the State will be receiving additional N8billion monthly from Federal Allocation.

On the challenges the State had when he came into office which include her inability to borrow from banks, treasury bills and other financial institutions, the Governor noted that “the Debt Management Office has passionately considered Imo State and moved her from 16% borrowing threshold to 40% borrowing capacity which allows her to discuss with the Financial Institutions on the way forward.”

Governor Uzodimma reiterated his earlier resolve to discourage over taxing of Imo people and reassured that “when things get better only those with genuine businesses and higher income will be taxed while those with little or nothing will be left out of the tax book.”

Sadly, the Governor expressed disgust with the activities of kidnappers in the State who are on rampage and making Imo people uncomfortable and urged the people to go about their normal businesses as there is enough security to guarantee their safety.

He also warned that there is no sit- at -home order in Imo State, whether on Monday or any other day and advised the people to go about their legitimate businesses without fear of molestation.

However, he acknowledged the efforts of security agencies in the State towards securing lives and property and enjoined them to put more efforts and “go after all criminals, especially the kidnappers no matter where they are,” noting that “a criminal is a criminal anyday, anytime.”

He thanked Imo people for believing in his Government and expressed delight that they are beginning to understand what he and his administration stand for.

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