Politics
FG Denies Seeking Additional $800m World Bank Loan
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.
Politics
2027 Presidency: Otti Backs Labour Party Candidate, Says He Won’t Oppose Tinubu
Abia State Governor, Alex Otti, has said he supports the Labour Party’s presidential candidate for the 2027 election while maintaining that he will not oppose President Bola Ahmed Tinubu’s candidacy.
Otti made the statement during an interview on Arise TV on Friday while discussing the 2027 presidential election and his position on Tinubu’s re-election bid.
The governor said he had previously stated that he had a presidential candidate, but clarified that he was referring to the Labour Party candidate.
SEE ALSO: Ogun Deep Seaport: Abiodun Thanks Tinubu, Says 30-Year Dream Becoming Reality
Asked if he was supporting the candidate, Otti said, “Yes.”
However, when questioned about whether he was supporting Tinubu, the Abia governor said Tinubu had a right to contest the 2027 election.
“What do you expect me to say? To say I’m not supporting him?” Otti asked.
He added that he had already stated that Tinubu had the right to run and that nobody could stop him from contesting.
Otti also explained that he was not in a position to oppose Tinubu’s candidacy.
“I’m not going to oppose his candidacy, and it is not within my right, even as a human being to… so I can choose what I want to do,” he said.
According to him, opposing a candidate while being part of government could create internal conflict, stressing that disagreements over policies should be addressed within government meetings.
“When you say opposition and you are part of a government, then what you are driving towards is implosion. So if I do have a problem with anything, I’ll sit down in one of our meetings and I’ll make my point,” he said.
Otti further said some policies implemented by the Tinubu administration resonate with his thinking, particularly the removal of fuel subsidy.
“Quite frankly, there are a lot of things that we have talked about now that he has implemented that resonate with me and my thinking,” he said.
He maintained that the fuel subsidy was unsustainable, adding that any decision to reintroduce it would require adequate funding.
Otti also noted that, as a governor and member of the National Economic Council, he is part of discussions and decisions concerning policies implemented by the federal government.
Politics
I Won’t Seek Governorship Again, Even If Constitution Is Amended – Peter Obi
Former Anambra State Governor and 2027 presidential candidate, Peter Obi, has ruled out seeking the office of governor again, saying he would not return to the position even if Nigeria’s Constitution is amended.
Obi made the declaration in a statement on X on Friday while addressing the ongoing controversy over Anambra State’s debt, saying he had no disagreement with the state’s incumbent governor, Chukwuma Soludo, or any other governor in Nigeria.
“I am not seeking the office of governor in any state, and I will not seek that position again, even if the Constitution is amended,” Obi said.
ALSO READ: 2027: Peter Obi Disowns OK Movement Campaign Council, Says ‘It Is Wrong’
The former governor also dismissed suggestions of a personal dispute with Soludo, describing him as his “dear elder brother.”
“I wish to assure the public that I have no disagreement with my dear elder brother, Governor Soludo, or with any governor in Nigeria,” he said.
Obi’s declaration comes amid the ongoing public debate over financial obligations allegedly linked to his administration in Anambra State.
He said he had remained silent over the past few days because he was grieving the death of his “very dear elder brother and friend,” Chief Okey Ezeibe, but said he had decided to respond to issues that had occupied public discussion.
Beyond the Anambra controversy, Obi also called on governors across the country to allow political opponents to campaign freely in their states ahead of the 2027 general elections.
He urged governors to support whichever presidential candidates they preferred while also permitting other presidential candidates and contenders for other offices to campaign without interruption.
“Ultimately, voters should be allowed to determine whom they wish to serve them,” Obi said.
He further urged political actors and Nigerians to focus on the challenges confronting the country and the hardship being experienced by citizens rather than what he described as political distractions.
Obi is currently the presidential candidate of the Nigeria Democratic Congress (NDC) for the 2027 election.
Politics
2027: Peter Obi Disowns OK Movement Campaign Council, Says ‘It Is Wrong’
Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has distanced himself from the Presidential Campaign Council reportedly constituted by the OK Movement, saying the initiative was created without his knowledge or approval.
Obi made the clarification on Arise TV on Thursday while responding to questions about the ongoing disagreement between the NDC and the OK Movement over the relationship between the party and its support groups.
The OK Movement, comprising supporters of Obi and former Kano State governor Rabiu Kwankwaso, has maintained that it would not surrender its national, state, local government and ward structures to the NDC.
ALSO READ: NDC Condemns Attack on Members in Enugu, Accuses APC of Sponsoring Thugs
Responding to the issue, Obi said the NDC was the political party to which they belonged, while groups such as the OK Movement, Obidient groups and Kwankwasiyya should operate as support groups for the party.
“First… NDC is the political party we all belong to. And I agree entirely with the position of the leader. OK Movement, Obidient group, Kwankwasiyya, and other supporting groups are supporting groups.
They must play their role as supporting groups supporting the party,” Obi said.
He stressed that the support groups should not operate as political parties or create structures that could compete with the NDC.
“They should not play the role of a party,” he said.
Obi specifically referred to the reported creation of a Presidential Campaign Council by the OK Movement, saying it should not have been established independently.
“We found a situation where one of the supporting groups is then saying using the nomenclature that is forming Presidential Campaign Council. It shouldn’t be,” he said.
Asked whether the campaign council was created with his knowledge or approval, Obi responded: “Not at all. And I said here, it is wrong.”
He further said any major action taken by the OK Movement would require the express approval of both himself and Kwankwaso because the movement represents supporters of the two politicians.
“Your supporting OK Movement is Obi and Kwankwaso. So whatever you do must have express approval of both of us,” he said.
The remarks come amid an ongoing disagreement over the political structures to be used by the NDC and the various support groups backing Obi and Kwankwaso ahead of the 2027 general elections.





