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Restructuring Is Vital For Nigeria’s Survival – Okotie

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Chris okotie, the founder of Household of God Church and former presidential candidate has stressed the importance of restructuring for Nigeria’s survival.

He made this statement in a new year message released by his media advisor, Ladi Ayodeji. He noted that in order for Nigeria to overcome the 2023 global economic crisis predicted by experts, Nigeria must establish a strong governance structures and a stable political climate.

He empathized that unless Nigeria adopts his “Aboriginal Democracy” Proposal, the country may face a severe socio-political and economic crisis. Stating that his Aboriginal Democracy proposition is necessary to avoid floundering in this crisis.

He noted that with 80% of Nigeria’s income being used to service it’s current debt of 77 trillion naira, and bloated bureaucracy, the country has no choice but to keep borrowing to run the country.

He said, “In the light of this reality, a new constitution is required to deal with all the existential problems in all spheres of our national life, which is why Aboriginal Democracy is recommended.”

He further expressed worry over the International Monetary Fund’s warning that one-third of the world including Nigeria, will be in a recession this year. He called on his congregation to pray for Nigeria’s peace and prosperity.

“Every member of this church should continue to set aside a few hours to pray for Nigeria because the Household of God was set up to play a pivotal role in the destiny of this country, that’s why I am involved in the political process,” he said.

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Politics

JUST IN: Minors Freed By Nigerian Govt Arrive Presidential Villa

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The minors who were just released by the Federal Government for their involvement in the end bad governance protest have arrived at the presidential villa, where they will meet briefly with government officials.

Recall that the Federal Government dropped the treason charges levelled against them for their participation in the protest that was held across the country.

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However, a source within the presidency confirmed that the governors of Kano and Kaduna States are already on ground to receive the minors and thereafter hand them over to their respective families.

The source also noted that the meeting will commence by 2pm at the Auditorium in the State House.

Following the directive of the President, Bola Tinubu on Monday, the office of the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, had early Tuesday morning, took over the case file and notified the Federal High Court in Abuja of his decision to discontinue the case against the protesters.

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US Election: Cardi B Expresses Nerves

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Grammy-winning rapper, Cardi B has shared her intense feelings about the upcoming U.S. presidential election, admitting that her nerves are so high she feels as though she’s running for president herself.

With the election only a day away, Cardi B took to X (formerly known as Twitter) to express her anticipation, telling her 36 million followers, “I don’t know why I’m so nervous for tomorrow. I feel like I’m running for president.”

The Bronx-born rapper and cultural icon recently made headlines for her passionate endorsement of Vice President Kamala Harris, the Democratic Party’s candidate, at a rally in Milwaukee, Wisconsin, on Friday. Speaking to a crowd of supporters, Cardi B gave a rousing speech, highlighting her concerns about the Republican Party’s candidate, former President Donald Trump. She criticized Trump’s stance on women’s rights, calling him “a hustler who is trying to hustle women out of their rights and hustle Americans out of their money.”

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The rapper, known for her outspoken political views, did not hold back, asserting that Trump is “selling more than watches and sneakers” and accusing him of promoting “bigotry, misogyny, division, chaos, and confusion.” Her words resonated with supporters, many of whom see Cardi B as a voice for younger voters who care about issues like women’s rights, racial equality, and social justice.

Addressing rumors circulating online, Cardi B also clarified that she was not paid to endorse Harris, dispelling speculation that financial incentives were behind her appearance at the rally. “I did this because I believe in the future that Kamala Harris stands for, not for any money,” she tweeted.

Cardi B has been vocal about her political stance throughout the election season, using her platform to encourage her fans to vote and make their voices heard. Her support for Harris has added significant star power to the Democratic campaign, especially among younger and minority voters. As the election approaches, her rally speech and social media statements have brought renewed attention to the high-stakes issues on the ballot.

With her passionate stance, Cardi B has become one of the most influential celebrity advocates in this election cycle, drawing both praise and criticism. As Americans prepare to vote, her message continues to reverberate across social media and beyond, emphasizing the rapper’s commitment to political engagement and advocacy for her beliefs.

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Nigeria’s Debt Service Ratio Falls To 65% As Tinubu Tackles Economic Woes

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In an effort to reduce Nigeria’s debt burden and stabilize the economy, President Bola Tinubu announced on Monday that the country’s debt service-to-revenue ratio has fallen from 97 to 65 percent over the 17 months since he took office.

Speaking at the swearing-in ceremony for seven new ministers at the State House, Abuja, Tinubu emphasized the government’s progress in stabilizing the economy despite challenging conditions.

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“For us, it was a challenge when the nation was servicing its debt with 97 percent of its revenue. It was nothing but the edge of the cliff,” Tinubu said.

“But today, I can report to you that we have brought that down to 65 percent, and we have never defaulted in meeting all obligations, both foreign and domestic.”

His remarks follow Afreximbank’s recent projection that Nigeria’s debt service-to-revenue ratio could reach 110.4 percent by 2024.

Afreximbank’s 2024 Nigeria Country Brief warned of a troubling upward trend in debt servicing, which could see the ratio surge from 33.8 percent in 2017 to a projected 110.4 percent next year.

However, with continued reforms, the report suggested the ratio might decline to 62.6 percent by 2025.

In the first nine months of 2023, debt servicing consumed 66.9 percent (₦5.79 trillion) of Nigeria’s total revenue, a slight improvement from 99.3 percent (₦4.23 trillion) during the same period in 2022.

Tinubu, while optimistic about economic recovery, acknowledged the ongoing struggles faced by Nigerians due to a sharp increase in the cost of living triggered by recent economic reforms.

“We have taken the bull by the horns,” the President asserted. “We have stopped the scavengers. We will fully put an end to the profiteers and smugglers of our resources across the country. We are not shirking our responsibility; we are confronting it head-on.”

He further expressed confidence that Nigeria was on a “good path” toward recovery, emphasizing that the government remains committed to re-engineering the economy.

He cited the introduction of a new minimum wage as one measure aimed at mitigating rising living costs.

Monday’s ceremony also saw the swearing-in of seven new ministers, part of a recent cabinet reshuffle.

In two batches, ministers including Idi Maiha (Livestock Development) and Dr Jumoke Oduwole (Industry, Trade, and Investment) took their oaths.

The reshuffle, which saw 10 ministers reassigned, five discharged, and seven new appointments confirmed by the Senate, reflects Tinubu’s stated commitment to reshaping his cabinet to meet Nigeria’s evolving challenges.

As the administration continues to implement reforms, President Tinubu emphasized a long-term vision for economic sustainability, not only for the current generation but also for future ones.

“Despite the challenges, we must undertake the job of re-engineering and retooling this country’s economic path,” he said.

 

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