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Lagos Debt To Hit Alarming N700bn By End of Year

By
Bayo Bernard
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0

By Fola James

The Lagos state government has disclosed that it will borrow a whopping N192.494 billion to fund the 2021 budget. Governor Babajide Sanwo-Olu had after signing the N1.16 trillion budget, two weeks ago, said it will be financed from internal and external loans.

The borrowing will effectively increase the state’s debt stock to over N700 billion, watchers of the Center of Excellence said.

According to the state state’s Commissioner for Economic Planning and Budget, Samuel Egube, who spoke to the media while presenting 2021 budget, the borrowed funds will be tied to specific projects that will be beneficial to the people of the state. The state government said its debt is still below the 40 per cent thresh hold set by the federal government and other international development partners.

The state has been criticized for being the highest borrower among the 36 states in the country. The Debt Management Office, DMO in its 2019 report said Lagos sits atop the list of debtor states after incurring a total of over N513 billion out of the  N1.043 trillion total debt stocks of the 36 states and FCT.

Egube who gave a breakdown of the budget said the total revenue estimate is N971.02 billion, consisting of internal generated revenue , IGR of N723.81 billion; capital receipts (N71.81 billion); and federal transfer of N175.40 billion.

He said, “The Lagos 2021 budget is made up of N702.93 billion for capital expenditure and N460.49 billion for recurrent expenditure, implying 60:40 capital to recurrent ratio against 2020 budget which was at 55:45 capital to recurrent ratio.

“The breakdown of Lagos recurrent expenditure shows that total personnel cost (N168.72 billion); total overhead costs (N260.07 billion); and debt charges (N31.87 billion).”

While signing the financial estimates approved by the state’s house of assembly tagged  “Budget of Rekindling Hope,” penultimate week, Governor Sanwo-Olu said  the sums of N703.23 billion has been allocated for capital expenditure while N451.75 billion for recurrent expenditure.

N400b Covid-19 Vaccines: FG, States Clash Over Allocation

By
Bayo Bernard
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0
coronavirus

By Tosin Olatokunbo

More states are set on collision course with the federal government over the distribution of covid-19 vaccines to 36 states in the country and FCT. Oyo state government has set the ball rolling by kicking against its allocation, but the magazine learnt that more states will also reject their own allocation in coming days.

Many states in the country are not happy that the vaccines allocated to them are not based on the rates of infections. Predominantly from the south are governors who feel more vaccines have been allocated to the North where infections are not as high.

The Buhari administration said it has purchased over N400 billion worth of the vaccines, and has commenced distribution to the 36 state governments and Federal Capital Territory, FCT, Abuja. The government said all states will get 4000 vaccines during the first phase, adding that the second phase of distribution will be done on the basis of need.

While rejecting the vaccine allocated to his people, Governor Seyi Makinde said the 1, 800 allocated to the state, out of the 100, 000 vaccines for the country is not enough, noting that more persons are being infected by the deadly virus.

Makinde who disclosed this during a press conference held at the Government House, Agodi in Ibadan, said the number of infection is at an alarming rate, noting that the state recorded 696 COVID-19 positive cases out of 13,000 tests from December 2020 to date. He said the number of vaccines allocated to the state was grossly inadequate based on the population of between seven and 12 million people.

He stated that his government was exploring other means of getting the vaccine to the people through opening discussion directly with a vaccine manufacturer on how the state could get as many as possible for the people of the state.

The latest figures released by the National Primary Health Care Development Agency, NPHCDA  showed that Kano received the highest allocation of 3, 557 while Nasarrawa got the least of 661 vaccines.

The agency said at the week end that the rate of infection per state/region was considered in allocating the vaccines. The News Agency of Nigeria, NAN gives the state-by-state allocation Kano State 3,557; Lagos 3,131; Katsina 2,361; Kaduna 2,074; Bauchi 1,900; Oyo 1,848; Rivers 1,766; Jigawa 1,712; Niger 1,558; Ogun 1,473; Sokoto 1,468; Benue 1,423; Borno 1,416; Anambra 1,379; Zamfara 1,336; Delta 1,306.

Others are Kebbi 1,268; Imo 1,267; Ondo 1,228; Akwa Ibom 1,161; Adamawa 1,129; Edo 1,104; Plateau 1,089; Enugu 1,088; Osun 1,032; Kogi 1,030; Cross River 1,023; Abia 955; Gombe 908; Yobe 842; Ekiti 830; Taraba 830; Kwara 815; Ebonyi 747; Bayelsa 589; FCT 695 and Nasarawa 661.

The agency said the first phase of the vaccines will be given from January to February in its first, assuring that 40 per cent of Nigerians would be vaccinated by 2021 and 70 per cent by 2022.

In spite of this assurance, close watchers of events in the country say the government did not consider many factors before distributing the vaccines to state, noting that this may have been responsible for the bad blood that the issue in now generating.

According to this school of thought, factors that should have been considered include the rate of infection and infection-potential of each state, rather than  population which the government seemed to have used as modicum for allocating the vaccines to states. Political and other sentimental factors should not be used in allocating the vaccines, critics say.

“For instance, it makes no sense to allocate more vaccines to Kano state when Lagos state is the epicenter of the pandemic. Since the virus broke last year, Lagos state has been on the top of the infection table, according to the National Center for Disease Control, NCDC. It therefore beats the imagination that the state came second in allocation of the vaccine,” Chucks Fidelis, a public analyst said.

He said the federal government must show the political will to contain the virus from spreading further, instead of leaning to towards sentimental factors which can make the fight against Covid-19 difficult.

The worry is that some states with the resources could begin to source for the vaccines on their own in a bid to curb the spread of the virus in their various states, which can be dangerous considering recent reports that fake vaccines are now on the prowl. The National Agency for Food, Drug Administration, NAFDAC recently warned against the proliferation of fake Covid 19 vaccines.

But sources close to the Ministry of Health said the federal government will ensure that the vaccines are fairly distributed based on need. A source in the Ministry told the magazine that “every action of the government should not be viewed from the prism of politics. The Buhari administration has been on top of this issue, and this can be seen through the Presidential Task Force, PTF on Covid-19. Nigerians should be patient, the vaccine will be distributed based on the need of people across the country,” he said.

Abia, Imo, Ondo States Shouldn’t Be Part Of Niger Delta – Edwin Clark |The Source

By
Adesina Soyooye
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0

By Adesina Soyooye

Niger Delta Leader, Chief Edwin Clark, says that former President Olusegun Obasanjo made a mistake when he included the three states of Abia, Imo, and Ondo as part of the owners of the Niger Delta Development Commission, NDDC.

Clark is of the opinion that the NDDC should be for Niger Deltans, only – meaning the six Coastal States.

Clark spoke while receiving, in audience, Mr Effiong Akwa, the Sole Administrator of the NDDC.

He said Obasanjo realised his mistake in admitting the three States of Abia, Imo and Ondo as part of the NDDC, and tried to rectify it.

Clark: “There was a time Obasanjo realised that he made a mistake by bringing in Ondo, Abia and Imo. So, at a certain stage, he made some amendments by saying that the Coastal States of the Niger Delta reverted to the original six states. That very law establishing the NDDC, provides that the amount of oil produced in a State should also determine the development of in that state.

“But what we have found today – you produce two-and-half per cent, you want development in your area more than those who produce more than 40 per cent. No individual, including   Mr President can change the law of Nigeria. So, whatever appointment that’s made that is contrary to the provision of the NDDC law is null and void.”

Clark Warns Akpabio, Alleges He Is NDDC’s Problem |The Source

By
Adesina Soyooye
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0

By Adesina Soyooye

Elder Statesman, and foremost leader of the Niger Delta, Chief Edwin Clark, has asked the Minister for Niger Delta Affairs, Senator Godswill Akpabio, to keep off the affairs of the Niger Delta Development Commission, NDDC.

Clark, a former Minister for Information during the first Republic, said Akpabio should concentrate on the job of the Ministry, and leave the NDDC to be run like an independent Commission that it is meant to be.

He accused Akpabio of interfering in the running of the Commission as if he is the Minister for the NDDC.

Clark spoke during a courtesy visit to him by the Sole Administrator of the NDDC, Mr Effiong Akwa.

Clark said he was shocked when Akpabio said the sum of N15billion, would be taken from the NDDC coffers to complete the East-West road. He noted that there was no such provision in the budget to complete the road with funds from the NDDC budget.

Clark noted that Kano State, in the 2021 Budget alone,  had a N50b provision made for it for three roads, and wondered why that of the Niger Delta should be different.

Clark: “Do we have to go and beg for money to build roads by ourselves. The Minister should live above his personal interest, and put the interest of the Niger Delta first.

“Some of us have advised the Minister, you have a Ministry. Don’t abandon your Ministry to focus on the NDDC. It’s not fair.

“The problem we have, therefore, is the constant interference with the affairs of the NDDC by the Minister of the Niger Delta.”

Imo: Truck Crushes Its Driver To Death; Witnesses Blame Construction Company |The Source

By
The Source
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0
Trailer Kills its Driver in Imo

Reports from Owerri, Imo State, confirm that a truck driver, whose identity is yet to be made public, was, Friday morning, killed by his own truck.

The diver was said to be speeding when the incident happened   along the Portharcourt road,  Owerri.

Even though his speed contributed, largely, to the tragic incident, eye witnesses were quick to, also, blame the construction company handling the road.

The late driver  was said to be unaware  of a deep hole dug across the road by the company, and accidentally, ran into it because there was no road sign to warn motorists.

“The spot was  without any caution by the construction company handling the road reconstruction and the driver mistakenly ran  into the grave and fell off  of his  truck,  shattering the windscreen of the truck,  and was thereafter crushed to death by the same truck”, said an eye witness

Eyewitnesses called on the contractors to  always put signs of caution wherever they are working to avoid a re-occurence of the tragic incident.

Covid-19: PTF Asks Nigerians To Disregard Lockdown Alert Speculations |The Source

By
Akinwale Kasali
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0
Sani Aliyu - PTF

By Akinwale Kasali

The Secretary to the Government of the Federation, Boss Mustapha led-Presidential Task Force on COVID-19 has urged Nigerians to disregard a fake fresh lockdown speculation and alert in circulation on social media.

PTF National Coordinator, Dr Sani Aliyu, made this known in a short video statement released on Thursday night, debunking claims that there will soon be lockdown in the country. He dismissed it as the  handiwork of mischief makers.

There have been concerns over a possible  fresh lockdown,  as the country battles the second wave of the coronavirus pandemic.

But Aliyu said the Government  was aware of the economic implication of a fresh lockdown and, therefore, urged Nigerians to adhere to all guidelines to curb the spread of the disease.

He said, “We are aware of a fake message on WhatsApp that we’ve declared a lockdown in the country. This is absolutely not true. I call on the Nigerian public to please ignore this message and continue with normal activities.

“I’m also calling on the public to abide by the non-pharmaceutical interventions including wearing of face masks in the public, washing of hands and maintaining physical distancing.

“There is an established way that we send our messages to the public including declarations when it comes to infection control. So, please ignore what is being going round on WhatsApp”.

FG Inaugurates N50 Billion Steering Committee for EEFP |The Source

By
Uche Mbah
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0
Niyi Adebayo

By Uche Mbah

An 11-member steering committee for implementation of the N50 billion Export Expansion Facility Program, EEFP, was Thursday inaugurated by the Minister of Trade and Industry and Investment, Niyi Adebayo. The facility falls under the N2.3 trillion National Economic Sustainability Plan, NESP, a program targeting economic recovery from the impact of the coronavirus Pandemic.

It is meant as a cushion for job security and shock absorption from emergencies like Covid 19, while increasing export capacity in both long, medium and short term. It is targeted at micro, Small, Medium enterprenuers.

Incidentally, current increases in electricity tarrif and Value Added Taxes are stifling the activities of these entrepreneurs. Generally, it is the small scale industries that drive global economy.

“Export growth is at the centre of our strategy for diversifying Nigeria’s sources of foreign exchange and reducing the vulnerability of the economy to external shocks.

“We have witnessed time and again, the devastating impact that events outside our control can have on our livelihoods due to our reliance on a primary source of foreign exchange,” Adebayo said.

The committee is Chaired by by Adebayo, who said he will ensure program implementation in line with the federal government’s objectives towards the intended beneficiaries.

It is also expected to draw up and approve the programme budget and implementation plan.

Jonathan Emerges Africa Peace & Security Leader of The Year 2020 |The Source

By
The Source
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0
Goodluck Jonathan

Former president, Dr. Goodluck Jonathan, has emerged as the African Leadership Magazine Africa Peace and Security Leader of the Year 2020, ahead of many other distinguished nominees across the continent.

Publisher of the United Kingdom-based magazine, Dr Ken Giami who announced the award at the U.K. Head Office of the group stated that Dr. Jonathan was overwhelmingly chosen by poll respondents because of his “commitment to deepening democracy, peace and security across the continent.”

According to him, the former President  “who has led several African Union (AU) and ECOWAS missions across the continent, emerged winner after scoring over 80% of the total votes cast in the category, in a keenly contested poll.”

Dr. Jonathan was announced as the winner  in the 9th edition of the annual African Leadership Magazine Persons of the Year Award, alongside 12 other distinguished Africans, including: Dr Tedros Adhanom Ghebreyesus, Director General, World Health Organization, WHO, as African of the Year 2020;  Nana Akufo-Addo, President of Ghana, as African Political Leader of the Year; Mo Ibrahim, founder, Mo Ibrahim foundation, as the African Philanthropist of the year 2020; Graca Machel, as African Climate Champion of the Year 2020.

A statement by the magazine indicated that the poll attracted over 120,000 votes on the ALM website, over 7 million active online engagement during the voting period and over 5000 votes via email.

It stated that the winners shall be decorated and presented with honour instruments on February 26th, 2021, during the annual African Leadership Magazine Persons of the Year Award ceremony.

“This year, the event is billed to hold virtually and set to host influential Africans in business, politics, and all spheres of African leadership spectrum”, the statement added.

Giving more details on the selection process, the magazine stated: “The African Leadership Magazine Persons of the Year which is in its 9th year is an annual award reserved for distinguished Africans, who have blazed the trail in the year under review. A shortlist of nominees are selected from results gathered via a Call for the nomination – traditionally promoted via paid online and offline campaigns across the continent, Europe, and the Americas. The call for nomination is the first step in a multi-phased process.”

Residents Of Ekiti Shun New Rules On Covid 19 |The Source

By
Ayodele Oni
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0
Ekiti State

By Ayodele Oni

Residents of Ekiti state may have turned their back against the fresh curfew imposed on the state to curb the spread of Covid 19 pandemic.

The state government, early in the week, announced that a curfew from 8.00 pm to 6.00 am had been imposed to curtail the second wave of the pandemic now ravaging the world over.

According to the Commissioner for information, Mr Akin Omole, apart from the curfew, a gathering of  more than twenty people  was equally banned  until further notice.

These restrictions took effect Monday 6 am January 11, 2021.

Investigations revealed that the people, who received government directives with mixed reactions, with some saying they are unnecessary, are still going about their normal duties beyond the time the curfew is commenced.

Owners of relaxation centres and mauls still operate till late in the night, with customers more than the stipulated 20, while commercial vehicles and okada riders operate in violation of the restrictions.

It was observed that except for government offices, where wearing of masks and hand washing are made compulsory, many people roam the streets unmasked.

Investigations further revealed that despite daily increase in number of deaths and those infected with the pandemic, people, especially in rural areas go about their daily activities with some of them dismissing the existence of the pandemic.

Although, Ekiti remains one of the states that record low incident of Covid 19, Government is reported to be contemplating on using security agents to enforce the new rules.

PDP Berates Buhari’s Performance Claim, Says He Has Failed Woefully |The Source

By
Akinwale Kasali
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0

By Akinwale Kasali

Contrary to the claim by President Muhammadu Buhaèri that his administration has performed better than the way it met the country five years ago, opposition Party, the Peoples Democratic Party, PDP, has says  he has failed woefully.

The PDP berated President Buhari for resorting to desperate face-saving media stunts in his incongruous plea to Nigerians to accept that the situation in Nigeria is better under his watch, despite the contrary harsh reality in the country.

The Party’s National Publicity Secretary, Kola Ologbodiyan, in a statement asserts that Mr. President’s illusory self-assessment further validates the PDP’s position that he has since abandoned governance for the luxury and pleasures of Aso Presidential villa, having lost sync with the reality of the devastation his incompetent administration has brought to our nation in the last five years.

The PDP insists that every fair criticism of Buhari’s administration only reveals a litany of failures and a reversal of fortune for our country in the last five years, adding that, it is unfortunate that at a time Nigerians expected President Buhari to be remorseful for his failures and rally compatriots for solution, he is rather seeking an endorsement of his cluelessness.

“How does President Buhari want an unmerited pass mark knowing that under his watch, bandits, terrorists, kidnappers and vandals, who have been pushed to the fringes before he took over in 2015, have now resurged, taking communities hostage, raping our women, beheading our compatriots and foisting a reign of terror to the extent that our nation ranked as the third country with the highest level of terrorism in 2019, after Iran and Afghanistan?

“How does President Buhari sleep in the night, in the comfort of Aso villa, knowing that because of his failures, millions of Nigerians go to bed on empty stomach; that since he took over, more than 30 million businesses have crumbled; that over 60 million Nigerians have lost their means of livelihood resulting in excruciating hardship in our country in the last five years?

“It is however unfortunate that President Buhari wants Nigerians to overlook the fact that he wrecked a robust economy handed over to him in 2015 with Fitch B+ rating as one of the fastest growing economy in the world and turned our nation into the world’s poverty capital and a beggar nation, that is now borrowing from all parts of the world?

“Is President Buhari trivializing the pain of a nation which his administration plunged into the worst type of economic recession; where families can no longer afford their daily meals and other necessities of life; and where life has become so unbearable that compatriots now resort to suicide and slavery mission abroad as options?

“Does President Buhari need to be reminded that since he took over, no less than 30 million businesses have crumbled; that over 60 million Nigerians have lost their source of livelihood; that when he took over in 2015 our naira was at N160 to a dollar but has now been weakened to almost N500 per dollar?

“It is unfortunate that President Buhari wants Nigerians to forget that under him, a liter of fuel, sold for N87 per liter under the PDP now sells as high as N170 to N200; that the price of staple food such as rice which sold for N10,000 per bag under the PDP now sells for N30,000; that a measure of garri which sold for N100 now sells for N350 and that a liter of palm oil which sold for N200 now sells for N600.

The PDP added that it counsels President Buhari and his handlers to note that Nigerians are already faced with the ugly realities of their misrule and cannot be beguiled by false performance claims emanating from them.

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