NEWS
Tinubu Presses Panic Button, Summons Govs To Aso Rock
The twin evils of economic hardship and insecurity threatening Nigeria appear to have moved President Bola Ahmed Tinubu into panic mode.
He has summoned an emergency meeting with the governors, in Aso Rock, on Thursday before departing for Ethiopia for the African Union (AU) meeting.
Biztellers reports that the meeting is coming on heels of continuous outcry from relevant quarters including the Nigerian Bar Association (NBA) and the Northern Traditional Rulers Council, being chaired by the Sultan of Sokoto, Alhi Muhammad Abubakar lll.
The Sultan, who is also the leader of the Muslim in Nigeria, lamented that despite the President Tinubu administration being a continuation of the All Progressives Congress (APC) party governance, the hardship had gotten worse, breeding national anger induced by hunger.
He said, “To me, this government is a continuation of the former government; it is the same party. So, what really is the problem? I think that is one of the reasons we are here to talk to ourselves.
“We owe it a duty to the teeming millions of people that believe in the traditional institution to bring solutions to the various problems facing them. We will not fail in doing that. We will do our best.’’
He was addressing a gathering, which could be described as a mini national summit of the northern Nigeria in Kaduna on Wednesday.
Among the Sultan’s audience were prominent citizens and leaders including top members of the Arewa Consultative Forum (ACF), Coalition of Northern Groups (CNG) as well as the representatives of the Inspector-General of Police (IGP) and the Director-General of the Department of State Services (DSS), the Tor Tiv, Prof. James Iyerste, other traditional rulers, and citizens.
He challenged his audience to come up with ideas that could address the twin challenges of poverty and insecurity confronting the northern region.
This would have prompted President Tinubu to summon today’s meeting.
It was gathered that the Vice President Kashim Shettima would meet President Tinubu at the Council Chamber as a prelude to the meeting with the governors.
Shettima would go on to preside over the 139th session of the National Economic Council (NEC), the first in 2024, with the President set to depart for Ethiopia later in the day to participate in the 37th Ordinary Session of the Assembly of Heads of State and Government of the AU.
Aside what is in public space – economic hardship and insecurity, not much is known of the agenda, but the President’s Special Adviser on Information and Strategy, Bayo Onanuga had expressed the opinion that attention for solution should also be focused on the state governors and Local Government Chairmen.
He took to his verified X handle on Wednesday to assert that they should “wake up to their responsibilities” and resolve the food crisis and hardship in Nigeria.
He wrote, “The Federal Government is not the only actor in town. You have your duties cut out for you. Imagine each state making efforts to boost food production in its domain, build one world-class hospital, good roads, good schools etc. Imagine what our country would have become.’’
The ruling APC, the Presidency and the main opposition, Peoples Democratic Party (PDP) have been trading blames on the crisis confronting Nigeria.
Governors elected on the platform of the PDP had expressed concern that the ship of state was drifting uncontrollably.
They compared Nigeria’s economic situation to that of Venezuela, a South American country in the throes of hyperinflation, escalating starvation, disease, crime, and high mortality rates.
To this, the Presidency fired back, pointing to the poor performance of the governors, including their failure to pay salaries, pensions, and the N30,000 minimum wage.
Recall that hardship induced protests had broken out in different parts of Nigeria including Niger, Kano, Kogi, Ondo, and other states.
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.