NEWS
SERAP Calls Out Tinubu On Loan Agreements By Former Presidents
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct appropriate ministries, departments and agencies (MDAs) to provide our organization with copies of the loan agreements obtained by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.”
In a statement made available to Biztellers, the SERAP also sought “the spending details of any such loans as well as the interests and other payments so far made on the loans.”
In addition, the SERAP urged President Tinubu “to establish an independent audit on the spending of the loans obtained by the governments of the former presidents, and to make public the findings of any such audit.”
The call was detailed in the Freedom of Information (FOI) request dated 13 April 2024 and signed by SERAP deputy director Kolawole Oluwadare.
The not-for-profit said, “Publishing copies of the agreements would prevent and combat waste, corruption, mismanagement, and abuse in the spending of public funds.
“No one should be able to pull curtains of secrecy around decisions on the spending of public funds which can be revealed without injury to the public interest. Democracy requires accountability and accountability requires transparency.”
According to the SERAP, “Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.”
The FOI request, read in part, “Nigerians’ right to a democratic governance allows them to appreciably influence the direction of government, and have an opportunity to assess progress and assign blame.
“The accountability of government to the general public is a hallmark of democratic governance, which Nigeria seeks to achieve.
“Your government should make it possible for citizens to have access to the agreements and spending details to judge whether their government is working for them or not.
“Publishing the agreements would demonstrate your oft-expressed commitment to openness in government and to promote accountability. It would also improve public accountability in ministries, departments and agencies (MDAs).
“Publishing the agreements and spending details would allow the public to see how and on what these governments spent the loans and foster transparency and accountability.
“The information may help to explain why, despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.
“Providing us with copies of the loan agreements signed by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari, and widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.
“Our requests are brought in the public interest, and in keeping with the requirements of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the UN Convention against Corruption, the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights to Nigeria is a state party.
“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s is N97.3 trillion ($108 billion). The Federal Government’s debt is N87.3 trillion ($97 billion).
“Nigeria paid $6.2 billion in 2019 as interest on loans while the country paid $6.5 as interest in 2018. Nigeria also paid $5 billion as interest on loans in 2017 while the country paid $4.4 billion as interest in 2016. For 2015, the interest paid on loans was $5.5 billion.
“SERAP is seriously concerned that substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.
“Publishing copies of the agreements would also ensure that persons with public responsibilities are answerable to the people for the performance of their duties including the management of the loans obtained between May 1999 and May 2023.
“Your government has a responsibility to ensure transparency and accountability in how any loans obtained by the Federal Government are spent, to reduce vulnerability to corruption and mismanagement.
“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including to copies of the loan agreements obtained by successive governments since 1999.
“By the combined reading of the provisions of the Constitution of Nigeria, the Freedom of Information Act 2011, the International Covenant on Civil and Political Rights, and the African Charter on Human and Peoples’ Rights, there are transparency obligations imposed on your government to widely publish the agreements and details of the projects on which the loans were spent.
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their government’s activities.”
A tank farm in the Apapa area of Lagos State went up in flames in the early hours of Friday.
A viral video of the sad incident, now making the rounds on social media platforms indicates that it is the property of the Nigerian National Petroleum Company Limited (NNPC Ltd).
The video was being traced to the Lagos State Fire and Rescue Service (LSFRS).
However, the NNPC Ltd has denied that none of its facilities in the location was affected, it posited that the fire incident, from a pipeline, affected a farm tank belonging to Honeywell Oil and Gas.
Director, Public Affairs, LSFRS, Amodu Shakiru, has confirmed the incident, and that firefighting operations were ongoing as at the time of going to press.
Shakira said, “Yes, we just received a call from that area and the call came in at 11:27am.
“The Lagos State Fire and Rescue Service is attending to a fire outbreak at the new NNPC Terminal, formerly OVH, Kayode Street, Marine Beach, Apapa.
“The fire resulted from a spillage of petroleum products within the perimeter of the tank farm”.
In the same vein, Director and Chief Executive Officer, LSFRS, Margaret Adeseye, said concerted efforts with various emergency responders within the oil and gas industry were being made to contain the situation.
“The public is hereby assured that the emergency operations are under control from escalating further,” Adeseye stated.
However, the Punch cited Spokesperson, NNPC Ltd, Olufemi Soneye, as saying that the fire was not from the company’s depot but from HOGL.
“It is not at the NNPC, but at HOGL. The fire is at a pipeline at HOGL. The fire has since been extinguished. It’s at the Honeywell depot but it has now been extinguished. Not NNPC,” Soneye said.
The Chancellor of Osun State University and Executive Vice Chairman of Famfa Oil Limited, Folorunso Alakija has described Governor Ademola Adeleke as “an action Governor who is delivering good governance to the good people of Osun state”.
She bared her mind, while hosting Gov Adeleke at the Ikoyi headquarters of Famfa Oil Limited.
According to her, she she has been following activities of Gov Adeleke since he assumed office, and commended him for setting a good leadership example.
The billionaire businesswoman on the occasion flanked by two of her directors, Ladi and Folarin Alakija, noted that the Osun State Governor has been demonstrating strong passion for public service and pursuing a big agenda for the state.
She prayed to God Almighty to strengthen the Governor for a second term in office, as in her opinion, four years were not enough for an action governor like Gov Adeleke to deliver fully on his ambitious agenda for the state.
Reviewing her tenure as the Chancellor of the Osun State University, the Famfa boss recalled the conception and stages of completion of the UNIOSUN Medical Research and Training Hospital which she wholly donated and financed.
She pointed out that the project which is 95 percent completed was designed to serve the health needs of patients from far and near and elevate service to humanity to a higher level.
Earlier, Governor Adeleke, accompanied by the Vice Chancellor of the Osun State University, Prof Odunayo Clement Adebooye and other state officials, said he was ‘on a thank you visit to the business mogul to appreciate her huge contributions to the growth and development of the state university’.
Gov Adeleke expressed appreciation for the massive multi-billion naira Medical Research and Training hospital that Apostle Dr Alakija was building at the State university, describing Famfa boss as “a commendable role model in the field of philanthropy.
“We are here as a government to appreciate you. You are uncommon and rare in your love for service to humanity.”
The Federal Government of Nigeria (FGN) has announced that the portal for student loan applications will officially open on May 24, 2024.
This development is part of the Nigerian Education Loan Fund’s efforts to enhance access to higher education, as stated by the Fund’s media lead, Nasir Ayantogo, on Thursday night.
According to Ayantogo, the launch of the application portal is a significant step in President Bola Tinubu’s commitment to providing accessible and inclusive education for Nigerian students.
This initiative follows the signing of the Access to Higher Education Act, 2023, by President Tinubu on June 12, 2023 which aims to provide interest-free loans to financially disadvantaged students pursuing higher education in Nigeria.
Dele Alake, a member of the former Presidential Strategy Team, noted that this move fulfills one of President Tinubu’s key campaign promises to liberalize funding for education.
The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to handle all loan requests, grants, disbursements, and recoveries.
Initially, the government announced that the scheme would launch in September, but it faced several delays, resulting in an indefinite postponement in early March.
The Presidency attributed the delay to President Tinubu’s directive to expand the scheme to include loans for vocational skills.
Following a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu instructed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs.
President Tinubu stressed the importance of including those who may not seek university education, noting that skill acquisition is equally as important as earning academic degrees.
He had said, “This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.
“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.
“In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,”
Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
According to the statement, the portal features a user-friendly interface, allowing students to conveniently submit their loan applications.
The statement added, “We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation. Students can access the portal on www.nelf.gov.ng to begin application.”
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