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BREAKING: PDP Shreds Tinubu’s 2024 Budget

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. . .  Considers It, Deceitful, Strangulating and Hopeless

The Peoples Democratic Party (PDP) has shredded the 2024 Budget laid before the National Assembly by President Bola Ahmed Tinubu, insisting that it “has no mechanism for economic recovery”.

The main opposition took to its verified X handle, Wednesday evening, to make its views on the proposed budget public, via a statement.

The party wrote under the subject, ‘Tinubu’s 2024 Budget, Deceitful, Strangulating and Hopeless – PDP’. ‘…Has No Mechanism for Economic Recovery, N750/US1 Suffocating’.

Here is the full text of the statement, “The Peoples Democratic Party (PDP) @OfficialPDPNig describes the N27.5 trillion budget for 2024 fiscal year as proposed by President Bola Tinubu @officialABAT to the National Assembly @nassnigeria as a huge disservice which, if allowed to pass, will further asphyxiate Nigerians and plunge our nation into more economic depression and hopelessness.

“The PDP also describes the claim by President Tinubu that the budget is a Budget of Renewed Hope as conjured, unfounded and deceptive as the budget is completely devoid of concrete mechanisms to revive the economy, create jobs, address the comatose manufacturing and productive sectors, human capital development deficiencies and depleting life expectancy of Nigeria citizens.

“The 2024 budget is filled with heavily padded figures, duplicated items and several false statistics including claims of global increase in inflation rate as excuse for an impending excruciating increase in taxes and interest rate to the detriment of our productive sector.

“It is clear that the 2024 budget as proposed with its heavy provisions for luxury appetite of the Presidency and All Progressives Congress (APC) leaders which is predicated and expected to be funded from multilateral and bilateral foreign loans and increased taxes on Nigerians, is designed to further mortgage our nation and strangulate the already impoverished Nigerians.

“The budget framework with respect to Recurrent Expenditure Vote of N9.9 trillion, Capital Expenditure Vote of N8.7 trillion and N8.25 trillion for debt services is unsustainable and unrealizable in view of the stated outstanding debt and proposed borrowing which is targeted mainly to finance consumption, luxury appetite and debt servicing.

“The lack of concrete and verifiable action plans to revive the manufacturing, energy, agricultural and education sectors which are the main drivers of any economy is a pointer that the Tinubu-led APC government is bereft of ideas and completely disconnected from the reality of life being faced by Nigerians.

“It is of grave concern that the President in the budget speech stated that his government has “adopted a Naira to US Dollar exchange rate of N750 per US Dollar for 2024”.

“This is a clear admission of failure, incapacity and lack of direction by the APC administration to manage and grow the economy in such a way as to strengthen the national currency, productivity and competitiveness in the global market.

“It has further confirmed that the numerous promises by the President and officials of his government asserting a monetary policy to strengthen the Naira have been a deceptive ploy which is consistent with the APC in the past eight and half years.

“By adopting a defeatist N750 per US Dollar exchange rate, President Tinubu has further plunged our economy into the abyss, weakened our productive sector, wrecked the purchasing power of Nigerians and the capacity of the youths to be creative, recognizing that it will be almost impossible for Small and Medium Enterprises as well as Startups to access capital under such a suffocating budget.

“Every responsible leadership strives to work and defend its national currency. Unfortunately, the Tinubu-led government has surrendered our nation currency and pride to the whims and caprices of the so-called “market forces”.

“The PDP insists that with a transparent, honest and innovative management of resources and economic potentials of the nation; without inordinate pursuit of luxury consumption by a few individuals in leadership position, as being witnessed under the APC, the economy will witness a rapid turn-around and the Naira strengthened to its value of below N200 per US Dollar bequeathed by the PDP to the @OfficialAPCNg in 2015.”

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NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13

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The Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, the Executive Vice Chairman/CEO, Nigerian Communications Commission (NCC), Dr. Aminu Maida, other regulators, experts, stakeholders from the financial services and ICT sectors, small business owners among others have confirmed their attendance at the SUPERNEWS Nigeria SMEs Forum 2024 scheduled for Thursday, June 13th 2024 at Radisson Hotel, GRA Ikeja, Lagos.

The conference with the theme, ‘Bringing SMEs into the Financial Services Network via Fintech’ would be declared open by the SMEDAN DG, Mr. Charles Odii, while the EVC of NCC will chair the event.

A renowned economist and financial expert, Dr. Biodun Adedipe, the MD/CEO Biodun Adedipe & Associate Ltd., will deliver the keynote speech at the conference, which would dig into issues faced by SMEs in running their day-to-day businesses in Nigeria.

The conference will also feature a panel session which would be handled by erudite scholars, including the Chairman, Nigerian Association of Small and Medium Enterprises (NASME), Yeye Modupe Dada; Managing Director/CEO, Sunu Assurances Plc, Mr. Sam Ogbodu, Managing Director/CEO of APT Securities and Funds Limited, Mr. Kasimu Garba Kurfi and Head, Financial Institutions Ratings at Agusto & Co., Mr. Ayokunle Olubunmi.

The Special Guests of Honour for the conference include the Director General of SMEDAN, Mr. Charles Odii; Acting Director General, Securities and Exchange Commission (SEC), Dr.  Emomotimi Agama and the Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin.

The Publisher of SUPERNEWS Nigeria, Ngozi Onyeakusi in a statement in Lagos said the choice of the theme of the Conference was borne out of the quest to improve the business climate for SMEs in Nigeria by leveraging on technology in terms of accessing financial services.

She said it’s unfortunate that SMEs that form the bedrock of every economy are plagued by a lot of challenges, especially inadequate access to finance. Indeed, reports have shown that the challenge of SMEs in accessing funds could be traced to inadequate access to financial institutions and education, skills, experience of owners/managers, high interest rates, gender discrimination, among others.

It therefore becomes imperative to leverage on technology to ensure their sustainability, productivity and profitability.

The conference, she said, will, among others, examine the key challenges faced by SMEs in Nigeria and provide practical solutions to help overcome them.

It will equally explore the benefits of fintech for small businesses, including how it can help them overcome financial challenges and drive growth through technology-driven solutions.

She equally emphasised that the confab is a learning opportunity designed to enhance awareness, deepen understanding of the participants on how SMEs can grow and sustain their businesses by embracing various financial services options including banking, capital market, pension and insurance.

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OSSG Raises Alarm Over Murder Plot By APC Chieftain

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Four gang-killed two in Osun, destroy N8M properties

The Osun State Government has urged President Bola Ahmed Tinubu, the Inspector General of Police and other stakeholders in Nigeria to urgently summon a former PDP stalwart in Osun State, Alhaji Shuaibu Oyedokun for questioning over his recent incendiary comments on the person and personality of the Governor of Osun State, Senator Dr Ademola Jackson Nurudeen Adeleke and the entire Adeleke family of Ede, Osun State.

This was contained in a statement issued in Osogbo, the Osun State capital, by the Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi.

According to the statement, the Government viewed with gross concern and outright dismay, the careless and unguarded utterances made by Alh. Shuaib Oyedokun wherein he advised Gov Adeleke not to, by any means, contest for a second term governorship in Osun State, if he doesn’t want an act of murder to be carried out and be hanged on the Governor and the highly respected Adeleke family of Ede where the Governor hails from.

The statement noted that during a live Yoruba radio programme on Rave F.M, Osogbo, tagged *Oro Oselu*, on Monday, the 20th of May, 2024, Alhaji.Oyedokun threw cautions to the wind in many of his politically uncultured and morally unguarded remarks while on the programme.

The OSG viewed such comments as not only inciting but the highest form of desperation from Alh Oyedokun and the entire Osun APC to which he defected to recently.

Against the backdrop of further interpreting his utterances throughout the duration of the Yoruba programme as a dangerous security development in Osun State, for which Alimi in the statement called for an immediate summon and eventual questioning of Oyedokun, by the law enforcement agencies to explain why the right of Gov Adeleke to contest for a second term should warrant shedding of innocent blood and hanging it on the neck of the governor and his family.

The security agencies need to unravel what plots or scheming bordering on criminality Pa Oyedokun is privy to or hatching alone or in partnership with his new party. This is necessary to forestall maturing of a hideous agenda capable of plunging Osun into crisis ahead of 2026 polls, the statement further reiterated.

The statement reads in part as follows: “As a Government, we view Alhaji Shuaib Oyedokun’s utterances throughout the duration of the

*Oro Oselu* radio programme of Monday, 20th of May,2024 as totally incongruous, callous, dirty, unwarranted and nauseating to say the least.

“Alhaji Shuaib Oyedokun’s comments,were not just within the boundaries of exercising his fundamental human rights of freedom of speech, they are at best morally awkward, debasing and a threat cum invitation for mayhem.

“Conclusively, as a Government, we are of the view that,whatever happens, bordering on the security of lives and property of the people of Osun State, before, during and after the coming Governorship election or any other election in our dear state, the likes of Oyedokun and APC members should be held accountable.”

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Ex-Police Officers Stage Protest Over Unpaid Pensions [video]

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Retired police officers under the contributory pension scheme have taken to the streets of Abuja to protest several months of unpaid pensions.

Coming from various state chapters, they voiced their frustration over the hardships they face due to PENCOM’s failure to pay their entitlements.

The retirees are calling on the Federal Government to exempt them from the contributory pension scheme.

In a video shared on social media platform X  on Tuesday, the retirees were seen holding placards and chanting, “All we are saying, give us our right.”

See video below:

 

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