NEWS
States’ Debts Soar To N11.4tn Despite Federal Allocations
As of June 30, 2024, the combined debt of Nigerian states surged to N11.47 trillion, marking a significant 14.57% rise from the N10.01 trillion reported in December 2023.
According to data from Nigeria’s Debt Management Office (DMO), this jump largely stems from increased external borrowing and the impact of naira devaluation, which saw the currency fall from N899.39/$1 in December 2023 to N1,470.19/$1 by mid-2024.
While external debt for states and the Federal Capital Territory grew to $4.89 billion, a 6.14% rise, the naira value of these debts skyrocketed by 73.46% to N7.2 trillion.
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Meanwhile, domestic debt for these regions saw a notable decline of 27.12%, reducing from N5.86 trillion to N4.27 trillion. Overall, state debt accounted for 8.54% of Nigeria’s national debt, which now totals N134.3 trillion, according to DMO records.
Revenue allocations have increased alongside these debts, partly due to higher oil prices. The Federation Account Allocation Committee reported distributing N3.473 trillion to all government tiers in Q2 2024. This included N1.337 trillion for states, a rise of 4.29% from the previous quarter.
However, many states continue to struggle with substantial debt burdens, leading experts to voice concerns over long-term economic stability and debt sustainability.
NEWS
Okpebholo Moves To End Indiscriminate Parking, Gridlock In Edo State
Edo State Governor, Senator Monday Okpebholo, has charged the Managing Director of the Edo State Traffic Control Management Agency (EDSTMA), Engr. Stainless Ijeghede on indiscriminate parking and traffic gridlock, especially in market areas.
According to a statement in Benin City on Friday, by Chief Press Secretary to Edo State Governor, Fred Itua, his principal gave the charge while decorating Ijeghede with his new rank as the head of EDSTMA.
He noted that while addressing the new Managing Director and his personnel at the Exco Chambers in Government House, Gov Okpebholo pointed out that the agency should do its job well by ensuring free flow of traffic across the state.
He called on Ijeghede and men of the agency to ensure they checked indiscriminate parking of vehicles and buses, especially in market areas.
“Edo State belongs to all of us and whatever we are doing, we should do it with care not to harm anybody. I appeal to EDSTMA to ensure that the city is well kept because whenever I drive round town, I see vehicles everywhere as the city is not well kept.
“This is your primary assignment. You should ensure the city is well kept as vehicles park indiscriminately and they are causing obstruction. Traffic is not flowing as it should and it is causing serious gridlock. Is it that you are not doing your job well?
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“Is it that you are not doing your job well or because you have a new leader that is why traffic is not flowing, or because you don’t know your job?
“You people should wake up and keep the state clean. Make sure that vehicles are parked well especially in the market areas. Monitor markets very well as these areas are looking really unkempt with vehicles and buses parked indiscriminately, causing traffic gridlock. Edo people are worst hit. They suffer from this. Ensure free flow of traffic so that the people will be happy,” Governor Okpebholo emphasized.
The EDSTMA boss, thanked Gov Okpebholo for the opportunity to serve the people of Edo State and assured him of the loyalty of the agency.
He added that his men will do their job professionally and ensure that the is free flow of traffic across the state.
International News
Lawmaker Introduces Bill To Allow Trump A Third Presidential Run
In a controversial move, Republican Representative Andy Ogles has introduced a resolution aimed at amending the U.S. Constitution to permit former and current President Donald Trump to run for a third term in office.
The proposal, announced on Thursday, seeks to revise the 22nd Amendment, which limits presidents to two terms.
Ogles argued that Trump is uniquely equipped to address the nation’s challenges and lead a turnaround for the United States.
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“No person shall be elected to the office of the President more than three times,” Ogles said in his statement. “He has proven himself to be the only figure in modern history capable of reversing our nation’s decay and restoring America to greatness. He must be given the time necessary to accomplish that goal.”
The congressman also underscored the importance of giving Trump the tools needed to address what he described as damage caused by the Biden administration.
“We must provide Trump with every resource necessary to correct the disastrous course set by the Biden administration,” he added.
“He is dedicated to restoring the republic and saving our country, and we, as legislators and as states, must do everything in our power to support him.”
The resolution calls for a constitutional amendment to modify the 22nd Amendment, which was ratified in 1951 following Franklin D. Roosevelt’s unprecedented four-term presidency from 1933 to 1945.
Roosevelt’s extended time in office spurred fears of presidential overreach, leading to the adoption of term limits.
Trump, who won the 2024 presidential election and returned to office, has previously downplayed the idea of seeking a third term.
However, during a conversation with Republican lawmakers, he humorously alluded to the possibility.
“I suspect I won’t be running again unless you do something,” Trump said. “Unless you say, ‘he’s so good, we have to just figure it out.’”
Ogles lauded Trump’s actions during his second term, citing executive orders aimed at securing the southern border, restricting gender identities to male and female, boosting energy production, and withdrawing the U.S. from the World Health Organization.
These measures, according to Ogles, demonstrate Trump’s ability to restore America’s standing and address critical issues.
The 22nd Amendment, proposed in 1947 and ratified four years later, was designed to uphold the principle of limited presidential terms first established by George Washington, the nation’s first president.
Washington voluntarily stepped down after two terms, warning against any president serving so long as to resemble a monarch or dictator.
Republicans currently hold a slim three-seat majority in the House of Representatives, but amending the Constitution is a daunting task.
The proposed amendment would require approval from two-thirds of both the House and Senate, as well as ratification by three-fourths of the states—a high bar in today’s deeply divided political climate.
While Ogles’ proposal is unlikely to succeed, it reflects the enduring loyalty Trump commands among his supporters and within the Republican Party.
The resolution has already drawn criticism from opponents who argue it undermines democratic principles, while supporters insist it is necessary to allow Trump to complete what they view as his mission to “restore America’s greatness.”
NEWS
Tinubu Appoints Ganduje, Ajibola, Others As Heads Of Federal Agencies
President Bola Ahmed Tinubu has approved the appointment of board chairpersons for 42 federal organizations, alongside other key leadership positions, as part of his administration’s efforts to strengthen governance structures across the country.
Among the notable appointees is Abdullahi Ganduje, National Chairman of the All Progressives Congress (APC), who has been named Chairman of the Federal Airports Authority of Nigeria (FAAN).
Similarly, APC National Secretary, Senator Bashiru Ajibola, has been appointed Chairman of the National Sugar Development Council (NSDC).
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The appointments, announced on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, include key figures from diverse sectors of the country.
In the statement, Onanuga revealed that President Tinubu had also appointed a new Managing Director for the Nigerian Railway Corporation and a Director-General for the National Board for Technology Incubation (NBTI).
“President Bola Ahmed Tinubu has appointed board chairpersons for 42 federal organizations and a secretary to the board of the Civil Defence, Immigration, and Prisons Services,” the statement read.
“The President has also appointed a new managing director for the Nigerian Railway Corporation and a director-general for the National Board for Technology Incubation (NBTI).”
Here is the full list of the appointments announced by President Bola Ahmed Tinubu:
1. Federal Airports Authority of Nigeria (FAAN) – Abdullahi Ganduje (Chairman)
2. National Sugar Development Council (NSDC) – Senator Bashiru Ajibola (Chairman)
3. Nigeria Bulk Electricity Trading Company – Sulaiman Argungu (Chairman)
4. National Agency for Great Green Wall – Senator Magnus Abe (Chairman)
5. National Youth Service Corps (NYSC) – Hillard Eta (Chairman)
6. Nigerian Institute of International Affairs – Prof. Bolaji Akinyemi (Chairman)
7. National Board for Technology Incubation (NBTI) – Kazeem Kolawole Raji (Director-General)
8. Nigerian Railway Corporation – Dr. Kayode Isiak Opeifa (Managing Director)
9. Federal Mortgage Bank of Nigeria – Nasiru Gawuna (Chairman)
10. National Teachers Institute – Festus Fuanter (Chairman)
11. Teachers Registration Council of Nigeria – Mustapha Salihu (Chairman)
12. Industrial Training Fund – Hamma Adama Ali Kumo (Chairman)
13. Nigerian Institute of Educational Planning and Administration – Victor Tombari Giadom (Chairman)
14. Nigerian Postal Service – D.J. Kekemeke (Chairman)
15. National Inland Waterways Authority – Musa Sarkin Adar (Chairman)
16. National Steel Council – Prof. Abdulkarim Kana Abubakar (Chairman)
17. National Environmental Standards and Regulations Enforcement Agency (NESREA) – Garba Datti Muhammad (Chairman)
18. National Bio-Safety Management Agency – Mu’azu Bawa Rijau (Chairman)
19. Nigerian Building and Road Research Institute – Durosimi Meseko (Chairman)
20. Nigerian Institute of Science Laboratory Technology – Donatus Enyinnah Nwankpa (Chairman)
21. Sheda Science and Technology Complex – Senator Abubakar Maikafi (Chairman)
22. Federal Teaching Hospital, Gombe – Zainab A. Ibrahim (Chairman)
23. Federal Teaching Hospital, Ido-Ekiti – Durotolu Oyebode Bankole (Chairman)
24. Federal Medical Centre, Abeokuta – Abdullahi Dayo Israel (Chairman)
25. Federal Medical Centre, Asaba – Dr. Mary Alile Idele (Chairman)
26. Federal Medical Centre, Lokoja – Nze Chidi Duru (Chairman)
27. Federal Medical Centre, Owerri – Emma Eneukwu (Chairman)
28. Federal Medical Centre, Umuahia – Uguru Mathew Ofoke (Chairman)
29. Federal Medical Centre, Yenagoa – Felix Chukwumenoye Morka (Chairman)
30. Federal Medical Centre, Yola – Bashir Usman Gumel (Chairman)
31. David Umahi Federal University Teaching Hospital, Ubuhu, Ebonyi State – Dr. Ijeoma Arodiogbu (Chairman)
32. Nigerian Maritime Administration and Safety Agency (NIMASA) – Yusuf Hamisu Abubakar (Chairman)
33. Federal Scholarship Board – Babatunde Fakoyede (Chairman)
34. National Oil Spill Detection and Response Agency – Edward Omo-Erewa (Chairman)
35. Raw Materials Research and Development Council (RMRDC) – Isa Sadiq Achida (Chairman)
36. Federal Medical Centre, Birnin Kudu – Mohammed Gusau Hassan (Chairman)
37. National Building and Road Research Institute – Yahuza Ado Inuwa (Chairman)
38. Sokoto-Rima River Basin Development Authority – Abubakar Shehu Wurno (Chairman)
39. Aminu Kano Teaching Hospital – Augustine Chukwu Umahi (Chairman)
40. Nnamdi Azikiwe University Teaching Hospital, Nnewi – Ali Bukar Dalori (Chairman)
41. Ahmadu Bello University Teaching Hospital, Shika, Zaria – Lawal M. Liman (Chairman)
42. Civil Defence, Immigration, and Prisons Services Board – Jubril Abdulmalik (Secretary)
43. Nigerian Social Insurance Trust Fund – Shola Olofin (Chairman)
All appointments take immediate effect and the President has directed all board chairpersons to refrain from interfering in the day-to-day management of the agencies, emphasizing that their roles are strictly non-executive.
“President Tinubu directs the board chairpersons not to interfere with the management of the organizations, emphasizing that their positions are non-executive,” Onanuga added.