Politics
Gov Soludo Rolls Out Palliatives To 59,000 Citizens
The Anambra State government has announced that up to 59,000 citizens would be benefiting from her palliative package to cushion the effects of the economic hardship ravaging the land, which is generally believe to the attributable to the removal of subsidy on Premium Motor Spirit, aka, petrol.
Governor, Anambra State, Chukwuma Soludo made this known in a statement released on Monday at Awka.
Biztellers reports that the recipients would be made up of pensioners and public servants, as well as those in the employ of the 21 Local Governments of the State.
Details of the package, from the former governor of the Central Bank of Nigeria (CBN) led administration include N12,000 monthly payments (to be added to regular emoluments) for the period of September to December 2023.
He maintained that the government’s gesture was in addition to a 10 percent salary increase, which the state had been paying since January 2023 as part of its “foresighted” response to the rising inflation.
Gov Soludo’s Press Secretary, Christian Aburime, clarified that ‘disruptive change’, especially the removal of subsidy on petrol, was long overdue, but would not be without certain hardships on everyone resident in Nigeria.
Consequently, Gov Soludo, acknowledged that President Bola Ahmed Tinubu already put in place an agenda of palliatives as the response of the Federal Government towards alleviating the effect of the subsidy removal.
What he failed to aver clearly in the statement is whether Anambra State had received her share of the FG’s palliative and if the package being unveiled formed part of it, even though he assured that the state would be partnering with the FG.
In addition, Gov Soludo assured that the state government would continue to clear the backlog of gratuity and pension of her pensioners.
Under this palliative scheme also, the state will be distributing rice to over 300,000 households in the coming weeks across the 326 wards of Anambra.
While appealing to landlords to show empathy and avoid arbitrary increment of rents, he assured that micro businesses would be encouraged to take cheap loans to boost their businesses.
He said, “Nigeria is undergoing fundamental re-setting of the macroeconomic framework. The long overdue disruptive change, especially the removal of subsidy on PMS and reduction of distortions in the exchange rate, comes with certain hardships on all the residents of Nigeria.
“Governments at all levels in Nigeria have shown a keen commitment to ameliorate the consequent short-term effects of the policy change on livelihoods.
“The President, Bola Tinubu, has rolled out an agenda of palliatives as the response of the Federal Government. We support the FGN agenda and expect to partner with the Federal Government to ensure that Anambra residents benefit maximally from the federal programmes.
“Ours is a government on the foundation of the All Progressives Grand Alliance. We are progressives, and the welfare of the ordinary Nigerians, especially the poor and vulnerable, remains our primary focus.
“In our 2024 budget, we shall roll out a more comprehensive agenda to address the medium to longer-term issues that will help to smoothen the path for all our residents, and ensure that everyone shares in our broad agenda of building a livable and prosperous homeland.
“In the meantime and over the remaining four months of the year (September – December 2023) as well as within the context of our 2023 budget framework, we are rolling out a few immediate and medium-term measures.
“Our response recognises that the subsidy removal affects all citizens, especially millions of the unemployed and underemployed youths and vulnerable segments of the population. Our interim response reflects the need to target the total population.
“In our foresighted response to the rising inflation, our government had increased the salaries of all public servants by 10 per cent effective January 2023. We have been paying the 10 per cent adjustment since January 2023.
“In addition to the salary increase, we will be paying every pensioner and public servant in the employment of the Anambra State Government and the 21 LGAs (approximately 59,000 persons) for the period September 2023 to December 2023, a monthly flat non-taxable cash award of N12,000. This is to augment their monthly take-home.”
He laid emphasis on exemption from taxation of the economically vulnerable, indluding hawkers, wheelbarrow and truck pushers, vulcanizers, artisans, okada drivers, petty traders with capital of less than N100,000.
Gov Soludo also stated that attention would be paid to education with a view to making it even more affordable in the state from the 2023-2024 academic session.
“We are reviewing the plethora of other levies, fees, and charges in these schools. Before schools resume in September 2023, we shall make further announcements to sanitize the system and reduce the burden on our pupils/students and their sponsors.
“We call on the landlords to show empathy to their tenants at this challenging moment and consider easier options for rent payment.
“Still on initiative to reduce the cost of transportation for the larger segment of Ndi Anambra, we will be applying to purchase many of the CNG-fueled buses to be provided by the Federal Government for intra-state transportation. The aim is to reduce the cost of transportation within Anambra.
“We recently distributed a total of 1.1 million oil palm and coconut high-yielding seedlings to over 100,000 households. We plan to sustain the distribution of one million seedlings per annum over several years in continuation of our revolution to create a new palm-coconut green/industrial ecosystem that will guarantee 500,000 – 1,000,000 households earning N1.5m to N3m per annum, thereby lifting them out of poverty, create wealth and earn foreign exchange for Nigeria.
“We are proposing a revolving loan scheme at near-zero interest rate. We are targeting over 100,000 micro businesses.
“We are determined to collaborate with the Federal Government to ensure that Anambra residents benefit maximally from the myriad of palliatives being rolled out by Mr. President, including; Provide our updated Social Register for Anambra residents to benefit from the FGN cash transfer — apply to attract a conditional grant of N50,000 to at least 1,300 nano business owners in each of the 21 LGAs of the State- support MSME and Startups in Anambra to apply for N500,000 – N1million soft loan each at 9% p.a. and repayable over a period of 36 months.
“In collaboration with the Organised Private Sector in the State, apply to obtain the N1bn soft loan each at 9% pa and repayable over 5 years available to 75 manufacturers in the country; – the N100 billion CBN commercial agricultural loan– the Gas conversion scheme,” Gov Soludo added.
Politics
Nigeria’s Debt Service Ratio Falls To 65% As Tinubu Tackles Economic Woes
In an effort to reduce Nigeria’s debt burden and stabilize the economy, President Bola Tinubu announced on Monday that the country’s debt service-to-revenue ratio has fallen from 97 to 65 percent over the 17 months since he took office.
Speaking at the swearing-in ceremony for seven new ministers at the State House, Abuja, Tinubu emphasized the government’s progress in stabilizing the economy despite challenging conditions.
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“For us, it was a challenge when the nation was servicing its debt with 97 percent of its revenue. It was nothing but the edge of the cliff,” Tinubu said.
“But today, I can report to you that we have brought that down to 65 percent, and we have never defaulted in meeting all obligations, both foreign and domestic.”
His remarks follow Afreximbank’s recent projection that Nigeria’s debt service-to-revenue ratio could reach 110.4 percent by 2024.
Afreximbank’s 2024 Nigeria Country Brief warned of a troubling upward trend in debt servicing, which could see the ratio surge from 33.8 percent in 2017 to a projected 110.4 percent next year.
However, with continued reforms, the report suggested the ratio might decline to 62.6 percent by 2025.
In the first nine months of 2023, debt servicing consumed 66.9 percent (₦5.79 trillion) of Nigeria’s total revenue, a slight improvement from 99.3 percent (₦4.23 trillion) during the same period in 2022.
Tinubu, while optimistic about economic recovery, acknowledged the ongoing struggles faced by Nigerians due to a sharp increase in the cost of living triggered by recent economic reforms.
“We have taken the bull by the horns,” the President asserted. “We have stopped the scavengers. We will fully put an end to the profiteers and smugglers of our resources across the country. We are not shirking our responsibility; we are confronting it head-on.”
He further expressed confidence that Nigeria was on a “good path” toward recovery, emphasizing that the government remains committed to re-engineering the economy.
He cited the introduction of a new minimum wage as one measure aimed at mitigating rising living costs.
Monday’s ceremony also saw the swearing-in of seven new ministers, part of a recent cabinet reshuffle.
In two batches, ministers including Idi Maiha (Livestock Development) and Dr Jumoke Oduwole (Industry, Trade, and Investment) took their oaths.
The reshuffle, which saw 10 ministers reassigned, five discharged, and seven new appointments confirmed by the Senate, reflects Tinubu’s stated commitment to reshaping his cabinet to meet Nigeria’s evolving challenges.
As the administration continues to implement reforms, President Tinubu emphasized a long-term vision for economic sustainability, not only for the current generation but also for future ones.
“Despite the challenges, we must undertake the job of re-engineering and retooling this country’s economic path,” he said.
Politics
Edo Deputy Gov, Omobayo Ordered To Court Over Refusal To Vacate Office
A Federal High Court in Abuja has mandated that Godwins Omobayo, the Deputy Governor of Edo State, appear in person on November 26, 2024, following allegations of contempt of court stemming from his failure to comply with a previous ruling.
Justice James Omotosho issued the order on Monday, asserting that Omobayo, described as the alleged contemnor, must be afforded a fair hearing in accordance with Section 36 of the 1999 Constitution (as amended).
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The court action was initiated by Philip Shaibu, who was reinstated as Deputy Governor after the court invalidated his impeachment by the Edo State House of Assembly on July 17.
Justice Omotosho ruled that the impeachment proceedings lacked due process and that the grounds for Shaibu’s removal did not constitute gross misconduct.
Shaibu’s suit targets several parties, including the Inspector-General of Police and the Edo State House of Assembly, seeking enforcement of the court’s judgment and demanding that Omobayo vacate the deputy governorship position.
Omobayo assumed office on April 8, following Shaibu’s impeachment.
During the court proceedings, it was revealed that Omobayo was served legal documents but failed to appear.
In response, Shaibu’s attorney, Ayotunde Ogunleye, SAN, urged the court to compel Omobayo’s attendance, citing the need to uphold judicial authority.
In delivering his ruling, Justice Omotosho adjourned the case until November 26 for further proceedings.
He directed that hearing notices be served to the 1st, 2nd, 3rd, and 5th defendants involved in the charge.
“In the interest of justice and to provide the alleged contemnor with an opportunity to defend himself and receive a fair hearing, in accordance with Section 36 of the 1999 Constitution (as amended), I hereby order that the alleged contemnor appear in court in person on November 26, 2024,” the judge stated.
It is noteworthy that the current tenure of the state government is set to conclude on November 12.
Politics
Presidency Fires Back At Atiku
On the heels of the salvo fired by the presidential candidate of the Peoples Democratic Party (PDP) in Nigeria’s 2023 elections, Atiku Abubakar, signalling what might be a long-drawn hot exchange of words, the Presidency has made what it called ‘our initial response to Alhaji Atiku Abubakar’.
This was contained in a statement put out on micro-blogging site, X, Sunday by the Special Adviser to the President (Information and Strategy), Bayo Onanuga.
The former vice president had detailed the shortcomings of the President Bola Ahmed Tinubu administration, making efforts to detail what he would have done differently, that would have better results for Nigeria.
In a swift response, the Presidency countered that Atiku and his ideas “were rejected by Nigerians in the 2023 poll”, based on his antecedents.
The statement reads, “OUR INITIAL RESPONSE TO ALHAJI ATIKU ABUBAKAR
“We have just read a statement credited to former vice president Alhaji Atiku Abubakar, in which he tried to discredit President Bola Tinubu’s economic reform programmes while pushing his untested agenda as a better alternative.
“First, Alhaji Atiku’s ideas, which lacked details, were rejected by Nigerians in the 2023 poll.
“If he had won the election, we believe he would have plunged Nigeria into a worse situation or run a regime of cronyism.
“Abubakar lost the election partly because he vowed to sell the NNPC and other assets to his friends. Nigerians have not forgotten this, nor would they be comforted by Atiku’s antecedents when he ran the economy in the first term of President Olusegun Obasanjo’s government between 1999 and 2003.
“As vice president, Atiku supervised a questionable privatisation programme. He and his boss demonstrated a lack of faith in our educational system, and both went to establish their universities while they allowed ours to flounder.
“Talk is cheap. It is easy to pontificate and deride a rival’s programmes even when there are irrefutable indices that the economic reforms yield positives despite the temporary difficulties.
“Despite the futile attempt to hoodwink Nigerians again in his statement, it is gratifying that the former Vice President could not repudiate the economic reforms pursued by the Tinubu administration because they are the right things to do.
“His advocacy for a gradualist approach only showed that he was not in tune with the enormity of problems inherited by President Tinubu.
“It is so easy to paint a flowery to-do list. It is expected of an election loser.
“President Tinubu met a country facing several grave challenges. Fuel subsidies were siphoning away enormous resources we could ill afford, and there was criminal arbitrage in the forex market.
“No leader worth his name will allow these two economic disorders to persist without moving to end them surgically.
“While advocating for gradual reforms may sound appealing, Tinubu took measures that should have been taken decades ago by Alhaji Abubakar and his boss when they had the opportunity.
“Alhaji Abubakar calls for empathy and a human face to reforms. We have no problem with this as it resonates well with our administration’s focus. President Tinubu has consistently emphasised the need for compassion and protection of the most vulnerable.
“The administration has prioritised social safety nets and targeted support for those affected by recent economic transitions.”