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FG Denies Seeking Additional $800m World Bank Loan

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The Nigerian government has stated that it is not requesting an additional $800 million loan from the World Bank to mitigate the effects of removing petroleum subsidies on the country’s vulnerable population.

 

Mrs. Zainab Ahmed, the Minister of Finance, Budget and National Planning, issued a statement yesterday to clarify that the reports claiming that the Nigerian government is seeking new loans to offset the impact of removing fuel subsidies were inaccurate.

 

She explained that she had noticed the reports and wanted to set the record straight.

 

The letter sent by President Muhammadu Buhari to the Senate last Thursday, in which he requested approval for an “additional” loan of $800 million from the World Bank for the National Social Safety Net Programme, sparked outrage among numerous Nigerians.

 

Many individuals interpreted this request as a separate $800 million loan, distinct from the one previously reported to have been secured by the administration.

 

During the Federal Executive Council (FEC) meeting on April 5, 2023, the Minister of Finance had made an announcement regarding Nigeria’s successful acquisition of a $800 million loan from the World Bank.

 

The purpose of this loan was to assist in offering support to approximately 50 million impoverished Nigerians following the removal of fuel subsidies.

 

In a statement titled “Nigeria Seeks No New World Bank Loan-Ahmed,” issued by her Special Adviser, Media, and Communications, Yunusa Tanko Abdullahi, the Minister clarified that the $800 million mentioned earlier was the same loan recently obtained from the World Bank.

 

The Minister emphasized that there was no request for an additional loan from the World Bank.

 

The statement reads “The news story is not correct. This is the same loan that the Honourable Minister had explained on several occasions that the $800 million facility the country recently got from the World Bank for post-petrol subsidy removal palliative was awaiting parliamentary approval for the federal government to commence disbursement.

 

“The government is therefore not seeking another loan for the pending fuel subsidy removal. It is the same.“It will be recalled that the facility would be deployed to provide succor to 10 million households, who are expected to get N5,000 each for six months.

 

“The minister had explained that the initial duration of the palliatives meant to cushion the effects of the planned subsidy removal on vulnerable Nigerians was for six months, but would be reviewed upon extensive consultation with stakeholders.”

 

The statement further quoted the minister as having recently explained that “the $800 million has been negotiated and approved by the Federal Executive Council (FEC) and we now have a request before the parliament for approval. And once the parliament approves it, the next administration can decide on the utilisation.

 

“We’ve also been doing preparatory work side by side along the approval process. This includes expanding the committee to include members of the transition team of the President-elect.

 

“The process will include the verification of the social register which will be used for electronic transfers of the funds.” it added.

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Politics

SHOCK: Aiyedatiwa’s Campaign Coordinator Murdered In Ondo

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APC members are reeling from the tragic death of Alaba Abe, also known as Excel, a coordinator of the Lucky Aiyedatiwa Campaign Organisation Foot Soldiers Independent Council (LACO-FSIC) in Akoko South-West Local Government Area of Ondo State.

According to a statement by LACO-FSIC’s State Information Director Kayode Fasua, Excel was fatally shot in front of his residence in Supare town on Saturday, April 27th.

He characterized the deceased campaign coordinator as “resourceful,” further noting that the news has stunned members of the All Progressives Congress (APC) in the council.

The statement reads “The Lucky Aiyedatiwa Campaign Organisation Foot Soldiers Independent Council (LACO-FSIC) on Sunday decried the gruesome murder of one of its ward coordinators in Akoko Southwest Local Government area of Ondo State, Mr. Alaba Abe Excel, with an appeal to the police authorities to protect its members against implacable opponents.

Fasua quoted Mr. Nurudeen Kazeem, the LACO-FSIC Director of Information and Online News for Akoko Southwest, expressing that the incident was a rude shock to APC members in the local council, who were dedicated to the governor’s election in November this year.

In response, Hon. David Ajobiewe, the Director-General for the LACO-FSIC in Akoko Southwest Local Government, also echoed the sentiment, describing the incident as a rude shock.

He said “Excel had been a resourceful coordinator for the Aiyedatiwa campaign organisation in Ward 10 of Supare and was never known to be violent and never had any history of local or domestic dispute.

“We urge the police authorities to step up investigations into his gruesome murder and bring the perpetrators of the dastardly act to book.”

Meanwhile, the Convener of the LACO-FSIC, Dr. Oladipupo Okeyomi, also known as Carry Go, along with Co-convener Prince Biyi Poroye, conveyed heartfelt condolences from Governor Aiyedatiwa, the campaign group, and the APC leadership in Ondo State on the tragic loss.

Similarly, the State Director-General of the LACO-FSIC, who also serves as the state Commissioner for Sports and Youth Development, Mr. Saka Yusuf-Ogunleye, denounced the incident as terrible and unnecessary, expressing sympathy for the family, friends, and associates of the late Excel.

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Ondo Guber: Abass Mimiko To Fly ZLP’s Flag

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The coming days promise a lot of intrigues in the Ondo State political circle with the former Governor, Segun Mimiko, set to play a big part.

Biztellers reports that delegates of the Zenith Labour Party (ZLP) on Wednesday, in Akure, chose Abass Mimiko as its candidate for the November 16 governorship election in the state.

It was gathered that Abass is Segun’s younger sibling.

He was reported to have been chosen through affirmation in the party’s primary election at its Secretariat.

On emergence, Mimiko assured that if elected governor of the state, his priorities would be education, health, economy, and security.

On if his older sibling would be supporting his ambition, with both of them being in different political parties, Abbas revealed that the former governor would be rooting for him to become Ondo’s next governor.

According to him, “My brother is happy that I am coming out because he knows I would build on his achievements.”

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37 APC Chairmen Pass Vote Of Confidence On Ganduje

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In a show of solidarity, the 37 chairmen of the All Progressives Congress (APC) expressed support for the party’s national chairman, Dr. Abdullahi Ganduje, despite reports of his suspension by his ward in Dawakin-Tofa local government area of Kano state.

The chairmen representing 36 states and the Federal Capital Territory (FCT) conveyed their vote of confidence during a visit to Ganduje at the APC national secretariat in Abuja on Tuesday.

Acting chairman of the APC state Chairmen Forum and Lagos State chairman of the party, Cornelius Ojelabi, stated that those behind the purported suspension were not recognized by the party.

He said, “We are here to let you know that we are solidly behind you. The purported suspension is not from members of the party but coming from people that want to derail the party.

“We’re here to show our solidarity and sincere commitment to appreciate what members of the National Working Committee have been doing in standing by you  by giving you a total support.

“We feel it’s important that the act of that solidarity should not be limited to members of the NWC alone.”

In his retort, Ganduje pointed fingers at Kano State Governor Abba Yusuf, accusing him of orchestrating the purported suspension by impostors.

He derided the move as nothing more than a theatrical spectacle, likening it to scenes one might expect on Africa Magic’s Nollywood channel.

He said, “We were so astonished when we heard the news but we were not surprised when we discovered that the great threat that APC overwhelmingly poses to other parties is real and Kano State is not an exception.

“The government in Kano State is behind this drama. Even the drama is one kind of drama that is called Africa Magic. This is Africa Magic and it is not leading democracy anywhere.

“It is a negative innovation where members who belong to a different political party, not even our members, let alone being elected executive members of either the ward or to the highest level at the state.

He added “Our party cannot be distracted, we assure you. Our attention cannot be diverted. We are focused. We know where we are heading to. We know our objectives and we know to achieve our objectives.”

At the same time, the Ganduje-led National Working Committee of the APC has officially received the report of the party’s Ondo Governorship Committee, headed by Kogi State Governor Ahmed Usman Ododo.

In a formal handover ceremony, Ganduje commended Governor Ododo for his exemplary leadership and acknowledged the committee’s diligent work.

He expressed pride in the governor’s successful execution of the party’s first national assignment under his stewardship.

Ganduje said “This is your first assignment and we are happy that you did well. I was in our Situation Room watching you live while you were declaring the results and I am proud of the way you handled it.”

In his earlier remarks, Governor Ododo expressed gratitude to the APC national leadership for entrusting him and his committee members with such a crucial national assignment.

He highlighted that the committee’s report meticulously documented all events surrounding the primary election, offering comprehensive recommendations to address the aftermath.

Governor Ododo emphasized the importance of these recommendations in fostering party unity and preparing the APC for success in the upcoming November governorship election in Ondo State.

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