NEWS
Buhari arrives Abuja after six-day trip to Seoul
By Funmilayo Olusanya
After a six-day official trip to Seoul, the capital of South Korea, where he attended the World Bio Summit 2022, President Muhammadu Buhari has now returned to Abuja.
Two Governors, senior government officials, and security chiefs welcomed the President when he landed at the Presidential Wing of the Nnamdi Azikiwe International Airport in Abuja at around six in the morning.
Governors Aminu Masari of Kastina and Abubakar Sani-Bello of Niger, the Minister of the Federal Capital Territory (FCT), Mohammed Musa Bello, and the Chief of Staff to the President, Professor Ibrahim Gambari, were among those at the airport to greet the President.
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Usman Alkali Baba, the Director-General of the Department of State Service (DSS), Yusuf Magaji Bichi, and a few other top officials were also present.
While in Seoul, President Buhari delivered a statement to the Summit, held a number of high-powered consultations and bilateral/diplomatic meetings, including with the South Korean President, Yoon Suk-yeol, and the Speaker of the country’s National Assembly, Mr. Kim Jin-Pyo, in a separate meeting.
The President also used the opportunity to call for an expansion of the Nigeria/South Korea trade relations, during his meeting with Suk-yeol, met with some South Korean investors, witnessed the signing of a Memorandum of Understanding (MoU) for the rehabilitation of the Kaduna Refinery between the Nigerian National Petroleum Company Limited (NNPCL) and the Daewoo Group.
He also met with representatives of the Nigerian community in the country, charging them to be good ambassadors of Nigeria in the land of their sojourn.
Nigeria was selected, along with five other African nations, at the most recent EU-African Summit in Brussels, Belgium in February of this year to participate in the Summit as the Global Training Hub for the Bio-Manufacturing of Vaccines on the African Continent and to transfer mRNA technology.
The Ministers of Foreign Affairs, Health, Industry, Trade, and Investment, Governors Masari; Sani- Bello Geoffrey Onyeama, Osagie Ehanire, and Adeniyi Adebayo, and the Minister of State for Petroleum Resources, Timipre Sylva, traveled with the President.
Maj-Gen. Mohammed Babagana Monguno (Retd), National Security Adviser, Amb. Ahmed Rufai Abubakar, Director-General of the National Intelligence Agency, Prof. Moji Adeyeye, Director-General of NAFDAC, Dr. Ifedayo Adetifa, Director-General of the National Center for Disease Control, Bashir Jamoh, Director-General of NIMASA, Hon. Abike Dabiri-Erewa, Chairman NiDCOM as well as other top government officials were also present in the delegation.
NEWS
Moghalu Prescribes Good Governance As Panacea To Ethnic Agitation
The President of the African School of Governance, Kingsley Chiedu Moghalu has admonished state actors against resorting to brutal force in the bid to muscle out separatist agitators.
In the aftermath of Mazi Simon Ekpa, the Finland based Biafran nationalist agitator being caught in legal web and the Nigerian government moving swiftly to seek his repatriation, the former deputy governor of the Central Bank of Nigeria (CBN) has cautioned that ‘We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.’
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The political economist, while expressing his hope in Nigeria, made it clear that “hope is not a strategy”.
He bared his mind in a series of posts on his verified handle on micro-blogging site, X on Friday.
Moghalu wrote, “Despite sustained contemporary difficulties, I am hopeful about Nigeria. But hope is not a strategy. We need to improve state capacity for effective governance.
“We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.
“We must learn to be honest with ourselves and address the root causes of our problems. Why ignore them, when the problem is actually quite solvable? The problem with continuing with this approach is that when the danger crystallizes, those who thought they were benefiting from
NEWS
N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
International News
ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.