NEWS
UNGA78: Orelope-Adefulire, World Leaders Urge Acceleration Of SDGs Through INFFs
Several leaders and experts from around the world, including the Senior Special Assistant to the President on Sustainable Development Goals, SSAP-SDGs Princess Adejoke Orelope-Adefulire, have called for increased investments and alignments of resources from public, private, domestic, and other sources to accelerate progress on the delivery of the 2030 Agenda.
Biztellers reports that Princess Orelope-Adefulire made the call at a high-level event held at the margins of the 78th Session of the United Nations General Assembly (UNGA78) in New York tagged, “Accelerating SDGs Progress Through National Financing Strategies and Integrated National Financing Frameworks (INFFs).”
It was gathered that the event was put together by the governments of Nigeria and Indonesia, in collaboration with key partners including the INFF Facility, UNDP, UNDESA, UNICEF, and the International Budget Partnership (IBP) with the aim of shedding light on the critical role of national financing strategies and INFFs in achieving SDGs.
It also provided a platform for countries to share their experiences, challenges, and solutions related to financing strategies, furthering the global conversation on how INFFs and national financing strategies can drive progress towards the SDGs in the second half of the timeline for achievement of the goals.
In her speech at the event, Princess Orelope-Adefulire acknowledged the transformative potential of the 2030 Agenda for Sustainable Development and the commitment of development partners, particularly the United Nations, in advancing this global agenda.
She noted that Nigeria, in alignment with its national development priorities, has integrated the SDGs into key policy documents, including the Economic Recovery and Growth Plan, the Economic Sustainability Plan, the National Poverty Reduction with Growth Strategy, and the National Development Plan.
On Nigeria’s pioneering role, Princess Orelope-Adefulire noted that the country made history with the launch of her INFF Report at the UNGA last year.
She emphasised that the INFF serves as a vital planning tool to enhance sustainable development financing at the national levels, in line with the Addis Ababa Action Agenda.
The SSA reiterated Nigeria’s commitment to leveraging the INFF framework, especially in light of global fiscal challenges.
According to Princess Orelope-Adefulire Nigeria intends to prioritise investments with multiplier effects on all the SDGs and to strengthen partnerships with the United Nations Development system, the private sector, and non-state actors with the aim of fostering a collaborative “whole of society” approach to implementing the INFF Roadmap in Nigeria.
On her part, Deputy Executive Director of Partnerships, UNICEF, Kitty van der Heijden, noted that the INFF was significant as an instrument for prioritising expenditures in favour of social and environmental sectors in an inclusive way.
She particularly lauded Nigeria’s efforts in exploring the possibility of aligning the national and sub-national budget allocations with the SDGs.
Kitty van der Heijden further stated that to deliver on the SDGs, countries need a strategic mix of public and private capital, in addition to the call by the UN Secretary-General for SDG stimulus, more ODA spending, more development lending, and more contingency finance at the same time.
Her position was re-echoed by Under Secretary-General and Associate Administrator, UNDP, Haoliang Xu, who added that the effort by Nigeria is a worthy example for other UN member-states to adopt.
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.