NEWS
$2bn Renewable Energy Funds Under Scrutiny As Reps Summon Ministers
The House of Representatives Committee on Renewable Energy has summoned several key Ministers to appear on Wednesday to account for over $2 billion in investments and grants allocated for renewable energy development in Nigeria since 2015.
Despite this significant funding, power supply across the country remains poor, prompting the committee to question the effectiveness of these investments.
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The ministers expected to attend include Abubakar Kyari, Minister of Agriculture and Food Security; Uche Nnaji, Minister of Science, Technology, and Innovation; and Atiku Bagudu, Minister of Budget and Economic Planning.
This investigative hearing, chaired by Afam Ogene, representative of the Ogbaru Federal Constituency in Anambra State, aims to uncover how these funds were utilized and why they have not led to measurable improvements in energy access.
The hearings, scheduled for November 5 and 6, stem from a June 6 mandate directing the Committee to investigate the Ministries, Departments, and Agencies (MDAs) involved in managing renewable energy investments, procurement, and grants.
However, on the first day of the hearing, the ministers opted to send representatives, a move that disappointed Ogene and the committee.
Expressing his frustration, Ogene reminded officials that the Constitution grants the National Assembly power to summon public officers for investigative hearings.
He cited Section 81(1) of the Constitution, which states, “Each House of the National Assembly shall have power by resolution published in its journal or in the official Gazette of the Government of the Federation to direct an investigation into any matter or thing with respect to which it has the power to make laws.”
The Chairman emphasized that this authority also includes oversight of “the conduct of affairs of any person, authority, Ministry or government department charged, or intended to be charged, with the duty of or responsibility for executing or administering monies appropriated or to be appropriated by the National Assembly.”
During Tuesday’s hearing, Ogene invited the Minister of Budget and Economic Planning to deliver a presentation, only for Felix Okonkwo, a director in the ministry, to stand in on his behalf.
When questioned, Okonkwo admitted he was authorized to “take some responsibilities but not all,” prompting Ogene to insist that the minister appear in person on Wednesday.
“Tell your minister to appear before this committee on Wednesday. It is not meant to witch-hunt anybody. A situation where invitations are sent about three times to heads of MDAs and they would still not appear to make their presentations is not acceptable,” Ogene warned.
Similarly, when Suleiman Abubakar, Deputy Director of the Ministry of Science and Technology, tried to speak on behalf of his minister, Ogene instructed him to notify his principal to attend personally.
“You have no locus to stand in for the Minister. He should appear in person on Wednesday. We wrote to the Minister, not a directorate,” Ogene asserted.
Also summoned to the hearing on Wednesday are officials from the Office of the Accountant General of the Federation, the Niger Delta Power Holding Company, Union Bank of Nigeria Plc, and the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo.
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.
NEWS
Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles
Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.
The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.
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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.
He urged the committee to carry out its assignment thoroughly and within the bounds of the law.
In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.
“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.
“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”
The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.
“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”
He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.
“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.
The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.
healxo
November 6, 2024 at 3:02 am
Your writing is not only informative but also incredibly inspiring. You have a knack for sparking curiosity and encouraging critical thinking. Thank you for being such a positive influence!