Chioma

Director General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala and Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed The Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Director General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, on Wednesday, differed on the nation’s debt-to-Gross Domestic Product ratio. Experts who spoke to our correspondents also expressed worry over the nation’s rising debt profile. While Ahmed put the debt-to-GDP ratio at 29 per cent, Okojo-Iweala said it had risen to 35 per cent. Both the minister and the WTO boss spoke at the African Development Bank High Level Knowledge Event with the theme: ‘From Debt Resolution to Growth: The Road Ahead for Africa’ which held virtually on Wednesday. Ahmed also disclosed that Nigeria planned to borrow more money to fund its infrastructure capacity. This is in spite of voices calling on the government to halt borrowing and concentrate on other means of raising funds for the infrastructure needs of the country. According to the Debt Management Office, Nigeria’s total public debt portfolio rose from N12.12tn in June 2015 to N33.11tn as of March 31. Ahmed said the government was enforcing fiscal discipline to expand its fiscal space so that it could continue to service its debts and borrow more to build the nation’s infrastructure capacity. She said, “As of Q1 2021, we have about a 29 per cent debt-to-Gross Domestic Product ratio. In terms of level of debt, we are still very healthy, and sustainable. “We are struggling with revenues, which is what we need to pay our debts. We have put in place a number of measures to enhance domestic revenue. “We are cutting costs, we are improving the ease of doing business, trying to leverage private sector resource capacity to invest in infrastructure to reduce government spending. “We are working on increased transparency in public financial management; we are enforcing fiscal discipline to expand our fiscal space so that we can continue to service our debt and borrow more to build our infrastructure capacity.” Ahmed also said that the total debt profile did not include that of some states, and that the federal government was making moves to correct that. “In Nigeria, we’ve been making a lot of effort on a quarterly basis to disclose all the debts that we have and to also indicate what the debt service is. “Currently, we are working on including other state-owned debts that have not been included in public debt for the purpose of transparency. It is important and will help us going forward.” However, Ngozi Okonjo-Iweala, who also attended the AfDB’s event, differed with Ahmed on the nation’s debt-to-GDP ratio. The WTO boss who had been Nigeria’s Minister of Finance in the past said the nation’s debt to GDP ratio had risen from 29 per cent to 35 per cent. She said, “Middle-income African countries have also seen their debt burdens increase sharply. Amid falling prices and demand for oil worldwide, Nigeria’s debt to GDP ratio rose from 29 to 35 per cent; Algeria from 46 to 53 per cent, and Egypt from 84 to 90 per cent, Angola from 107 to 127 per cent. “Debt to GDP ratios also increased for non-oil exporters including South Africa from 62 to 77 per cent. Morocco from 65 to 76 per cent.” Okonjo-Iweala also said that scarce foreign exchange in certain African countries was creating scenarios where the governments were using scarce forex to fund the fund debt repayment rather than on capital investment. “Even where debt to GDP or where debt to export ratios were not very high, tighter access to dollar financing because of the COVID-19 crisis means we are already seeing places where scarce foreign exchange is going to fund debt repayment instead of capital investment,” she added. A professor of economics at the Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Sheriffdeen Tella, described as a cause for worry the amount being spent by the government on debt servicing. He said, “What is important is not even the debt-to-GDP ratio but the ability to pay, and we are presently in serious problem with payments. “If they want to borrow money from internal sources, that could be understood. But if they are going international again, I think it is not proper because presently the level of international borrowing is what is giving them problem now. “We are selling oil and making money but we are using that money to service the debts that we owe, and that is unfortunate. “So, one cannot but be worry. So, government should think about creating wealth rather than continue borrowing. If they need money badly, they should borrow domestically.” Prof. Akpan Ekpo told one of our correspondents that there was an urgent need for the government to be more transparent concerning the borrowing. He said, “There is nothing bad in borrowing but you need to borrow to fund infrastructural projects that will pay their way. “Looking at debt-to-GDP ratio can be quite misleading because we debased our GDP making the denominator very large compared to the numerator. Instead, we should use debt servicing to GDP ratio and debt to revenue ratio, which at the current rates are disturbing.” Ekpo added, “FG needs to do more feasibility studies on these infrastructural projects before borrowing to fund them. “Infrastructural projects like power and others have positive multiplier effects in the long run. For the debt acquisition, they also need to be more transparent on it too.” President of the AfDB, Akinwumi Adesina, said that cumulative total debt in Africa was higher than cumulative government revenue. According to him, in 2019, Africa’s total outstanding debt was $841.9bn, while total government annual revenue was $501bn. Adesina said, “Africa’s GDP declined by 2.1 per cent in 2021. Growth is projected to recover to 3.4 per cent by 2021 and 2022. Africa’s cumulative GDP declined by $145bn to $190bn. “Millions fell into extreme poverty on the continent. Thirty-nine million Africans could fall into poverty by the end of 2021.” Adesina said debt-to-GDP ratios on the continent was expected to rise to 10 to 15 percentage points, rising from 60 per cent in 2020 to 75 per cent in 2021. He added that as of 2021, 17 out of 38 African countries for which debt sustainability was available were in dire distress. Twelve countries were in moderate risk of debt distress, while six were already in dire distress, and one country had low risk of debt distress, he added. By Femi Asu, Temitayo Jaiyeola, Dayo Adenubi and Sami Olatunji Source:https://punchng.com/endless-borrowing-experts-worry-okonjo-iweala-ahmed-differ-on-nigerias-debts/

A retired Permanent Secretary in Adamawa state, who earns N400,000 monthly, has been recruited in the National Social Investment Programme (NSIP) of the President Muhammadu Buhari-led government. The Nigerian Government established the NSIP in 2016 to tackle poverty and hunger across the country. The suite of programmes under the NSIP focuses on ensuring a more equitable distribution of resources to vulnerable populations, including children, youth, and women. However, a retired Permanent Secretary has by his relationship with handlers of the programme, found his way amongst the recruited youths under NSIP, to earn N30,000 monthly. SaharaReporters gathered from an official of NSIP that the Permanent Secretary in question is an associate of the National Coordinator of NSIP, Dr. Umar Buba Bindir. It was learnt that the relationship between the Permanent Secretary and Bindir, dates back to the Umaru Bindo Jibrilla's immediate past government, where Bindir served as Secretary to the State Government, SSG. Official sources said they had confronted Bindir about the issue and reminded him that it was illegal to recruit a retired Permanent Secretary, while thousands of youths were left out. "When he (retired Permanent Secretary) joined the queue to collect the engagement letter and a tablet phone, we politely told the former Permanent Secretary that this is for young people and not for your type, sir. "But he replied that the National Coordinator of NSIP, Umar Bindir told him that he had been recruited. "He retired just recently with a full salary of N400,000, having retired as a Permanent Secretary, and he came to collect N30,000. "Though he confessed that he knew nothing about the programme; he said Bindir told him to come and participate." It was further gathered that many youths, who were trained as independent monitors of NSIP in Adamawa state had their names replaced. Several of such youths on Saturday protested to the venue, where engagement letters and phone tablets were given to the Permanent Secretary and other recruits. An NSIP official called on the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to investigate the programme and its beneficiaries. By SaharaReporters, New York Source:http://saharareporters.com/2021/06/23/busted-ex-permanent-secretary-recruited-benefit-nigerian-governments-n30000-social

The Nigerian Senate on Wednesday said it was still looking for money to fix the National Assembly complex before its roof started leaking. Reacting to the embarrassing leaking roof which flooded the lobby of its White House, the Senate said it had earlier met President Muhammadu Buhari to seek funds to fix the complex and he directed them to look for the money. It also faulted the media over reports on the leakage, saying some media platforms blew the situation out of proportion. Senate particularly took cognisance of the news outlets that used ‘flood’ to describe the situation that left the National Assembly cleaners battling to control the dripping water on Tuesday. The Senate further accused the media of misrepresenting Tuesday’s incident, stating that what happened was leaked rainwater into the complex lobby, Daily Post reports. Former Senate spokesman, Senator Aliyu Sabi Abdullahi who came through Order 14 & 15 of the Senate Standing Order, faulted a report by Channels Television on the issue. He noted that while Channels TV’s report on the situation impinges on the privilege of the lawmakers, it was largely incorrect as it further accused the Senate of approving N37 billion for the renovation of the edifice. He asked the leadership of the Upper Legislative Chamber to as a matter “of privilege, take up the matter immediately.” Decrying the TV report, President of the Senate, Ahmed Lawan, described the TV report as “irresponsible,” adding that it was aimed at “denigrating the Senate.” He, however, pointed out that the report did not emanate from journalists at the National Assembly, who he said had demonstrated “patriotism in reporting activities in the parliament.” He recalled that the leadership of the National Assembly had earlier met with President Muhammadu Buhari when it requested the sum of N37 billion to rehabilitate the edifice. “But castigation from the media led to the budget being slashed to N9 billion.” “I remember that myself and the Speaker of the House of Representatives (Hon. Demo Gbajabiamila) met with the President, so that money can be released for the rehabilitation of the building after it was used for 20 years without rehabilitation. "Mr President told us to go look for money. And I remember that myself, the late Chief of Staff to the President, (Abba) Kyari, the Speaker and the Finance Minister, went about to look for money,” Lawan said. He described Tuesday’s incident as a vindication of what the National Assembly foresaw, insisting that they acted as responsible tenants to protect the structure from deteriorating. He further called on the media to seek and report the truth, and to help develop the country’s democracy By SaharaReporters, New York Source:http://saharareporters.com/2021/06/23/leaking-roof-how-late-chief-staff-kyari-finance-minister-and-i-were-looking-money-fix

The Nigeria Movement of Solidarity with Cuba has urged the Nigerian Government to vote against the continuing blockade of Cuba by the United States of America. The group in a protest letter against the economic blockade handed down to the Minister of Foreign Affairs, Geoffrey Onyeama, described such an action as tantamount to genocide. The leader of the group, Comrade Biodun Aremu, said Cuba has for the past six years of the blockage lost fortunes, urging other African countries to vote against such unilateral and inhuman action. “We, a coalition comprising the two labour centres in the country; the Nigeria Labour Congress (NLC ) and the Trade Union Congress (TUC), radical progressive groups, intellectuals in the Academic unions, civil society and human rights organisations organised as the Nigerian Movement of Solidarity with Cuba, bring you greetings. “We write to express our desire and the hope of millions of the Nigerian people that our country should vote at the United Nations General Assembly on Wednesday, June 23, 2021, for the resolution demanding a final end to the blockade against Cuba imposed by the United States since February 7, 1962. This final push is necessary because the American establishment has treated with contempt, the 28 resolutions adopted by the UN General Assembly condemning the blockade. “Nigeria as a country has consistently voted against the blockade, and at this final stage, we need to make our vote emphatic. This will be in line with the February 7, 2021 Resolution of the African Union (AU) Heads of State Summit, which in declaring 'its solidarity with the People of Cuba' also expressed: serious concern about the continuous and illegal Economic, Commercial and Financial Blockade imposed by the United States of America against Cuba. “The right of all countries to self-determination which the US is challenging by its unilateral blockade of Cuba for six decades now is sacrosanct. It was this principle Nigeria stood for in ensuring independence for all countries particularly in the bloody liberation wars in Angola, Mozambique, Guinea Bissau, Cape Verde, Zimbabwe, Namibia, and South Africa. “We need not remind ourselves of the fact that thousands of Cuban youths laid down their precious lives on the African soil fighting the forces of apartheid and militarily defeating them to ensure the liberation of our continent. “Your Excellency, the US blockade against Cuba is tantamount to genocide as it blocks that country from free trade including freely importing and exporting goods, using credit from financial institutions, or import life-saving medicines including for the Covid-19 pandemic. “At the outbreak of the pandemic, the Chinese business mogul, Jack Ma sent life-saving medicines and emergency Covid-19 materials to various countries including Nigeria and Cuba. While all beneficiary countries received the aid, Cuba was denied because the American embargo forbids airlines from delivering such aids to the Cubans. “In financial terms, the accumulated quantifiable cost of the blockade to Cuba over the past sixty years is $1,098,008,000,000. No country can be subjected to such haemorrhage and remain financially healthy. “We urge our country not just to vote to tear down the walls of the American blockade, but also to give leadership to the African continent in delivering a strong ‘Yes’ vote against this unilateral and inhuman blockade against a sister country with ancestral roots in Africa." By SaharaReporters, New York Source:http://saharareporters.com/2021/06/23/labour-movement-asks-buhari-government-vote-against-us-blockade-cuba

The United States Consulate's Public Affairs Officer, Stephen Ibelli, says that about 13, 000 Nigerian students are admitted to the U.S. annually. Ibelli disclosed this during the launch of the 'Windows on America' Hub at the Nnamdi Azikiwe University, N.A.U., Awka, on Tuesday. He described Nigerians as one of the most dominant immigrant groups in the United States. He said that the 'Windows on America' hub aimed to provide Nigerian youths with educational opportunities available in the U.S.A. "Windows on America" are free spaces that offer services to students to learn about how to study in the United States and how to apply for scholarships to study abroad. "The hub will help to promote mutual understanding between the U.S. and outstanding youths of Nigeria to access information about the country, its government, history, culture and education system. "The hub will also provide free libraries, online courses, training on resume writing, an incubation centre for talented youths to develop their natural endowments, as well as their leadership and entrepreneurial skills. "We have about 13,000 Nigerians admitted to study in the U.S. yearly. This shows that both nations share diverse cultural uniqueness," he said. Ibelli, who said the programmes offered at the hub would be free of charge for all interested youths, urged them to take advantage of the platform and resources provided to develop themselves. He appreciated the university management for the partnership and for their efforts which he said culminated in setting up the hub. In his remarks, the Vice-Chancellor of N.A.U., Prof. Okechukwu Esimone, recalled that the plans for establishing the hub at the university began in December 2018, NAN reports. Esimone said that the Memorandum of Understanding between the American Embassy and the university was, however, signed in July 2020. "The present Public Affairs Officer has pursued the actualisation of the project with admirable gusto. "The Awka Windows on America, being a resource and training centre, would, without doubt, be a huge asset to the staff and students of the university," he said. By SaharaReporters, New York Source:http://saharareporters.com/2021/06/23/united-states-varsities-admit-about-13000-nigerians-yearly-%E2%80%94-report

The Ondo State High Court sitting at the Olokuta Medium Prison in Akure has granted bail to Kemisola Ogunniyi, an 18-year-old girl detained over #EndSARS protest who birthed a baby at the Surulere Prison in Ondo town, Ondo East Local Government Area of the state. Justice Omolara Adejumo granted Kemisola bail in the sum of 10 million naira and a surety in like sum. The judge ordered prison authorities to bring Kemisola and her newborn as a prelude to releasing her from prison. She recently birthed the baby at the Surulere Prison in Ondo town, Ondo East Local Government Area of the state. SaharaReporters learnt that a court bailiff, prison warden, and lawyers are to proceed to Surulere prison in Ondo town to bring her to court as a prelude to releasing her. Also, counsel will move bail motion for three others arrested over the alleged #EndSARS protest, who are still in prison. Kemisola was arrested in Akure and has been imprisoned since October 24, 2020, while going to a pharmacy to buy drugs for her mother. But she was arrested by the police with three others who said they were part of the participants of the #EndSARS protest in the state. The police claimed they were one of those #EndSARS protesters who burnt the office of the All Progressives Congress, APC, in the state last year, about eight months ago. The three others are Ayodele Bukunmi, Ojo Samuel and Ani Obinna. The charges preferred against them were conspiracy to commit the following felonies, to wit: arson, riotous assembly, stealing and malicious damage. Kemisola was said to have gone into labour on June 15 and gave birth to a baby boy the following day. Human rights activist, Omoyele Sowore, had in a Facebook post last week called on Governor Rotimi Akeredolu of the state to look into the issue, adding that the mother of the newborn was innocent and never committed any offence. The post by Sowore triggered public outrage, with many Nigerians demanding her swift and unconditional release from detention. By SaharaReporters, New York Source:http://saharareporters.com/2021/06/22/breaking-18-year-old-alleged-endsars-protester-kemisola-who-gave-birth-prison-granted

Oyo State police command has arrested three suspects following the shooting of cows in the Eruwa area of the state. Spokesman for the command, Adewale Osifeso said the suspects Opeyemi Ajibodu, Segun Dade and Dare Adenle were found in possession of two dane guns and daggers, among other weapons. He said the police made the arrests in the Sunbare area following reports of several gunshots reportedly fired in a nearby bush. Osifeso added that an on-the-spot assessment carried out at daybreak revealed that the gunshots were from an attack launched against a group of Fulani herders, which resulted in the killing of six cows and wounding of 13 others. He said, “In continuity of the crime-fighting crusade of the Oyo State Police Command, on Sunday, 20th June, 2021, several gunshots were reportedly fired in a bush at Sunbare Area, along old Ibadan Road, Eruwa, causing fear and panic in the hearts of residence. “Upon receipt of the information, police operatives attached to Eruwa Divisional Police Headquarters gathered momentum and stormed the reported scene. “Upon arrival at the scene, the three suspects were arretsed with the weapons. “Upon interrogation, facts gathered revealed that the attack was perpetrated to ward off the herders from grazing in the forests in Eruwa environs.” By SaharaReporters, New York Source:http://saharareporters.com/2021/06/22/police-arrest-three-allegedly-attacking-fulani-herders-shooting-cows-oyo

The President of the Nigeria Union of Journalists, Christopher Isiguzo, on Monday reiterated the position of stakeholders in the media towards the National Press Council (Amendment) Bill currently before the National Assembly. He said a stakeholders’ meeting was important to settle the grey areas. He added that any regulation that tended towards the control of the media by the government would be resisted. Isiguzo spoke while featuring on Sunrise Daily, a programme on Channels Television, monitored by one of our correspondents. He said, “From the NUJ’s perspective, we did not really object to that public hearing; but from the Nigeria Press Organisation’s perspectives, made up of the Newspapers Proprietors of Nigeria, the Nigeria Guild of Editors and the Nigeria Union of Journalists, we are opposed to the planned amendment. We told the National Assembly that the matter was of contention in court and it would be sub-judice to discuss. “I do not think anybody is allergic here if you look at the issue in court, we said ‘allow the practitioners and stakeholders to regulate themselves.’ “In Ghana, the person heading the press council is a journalist. So, when you allow us to regulate ourselves, it is a lot easier. If you look at the proposed amendment bill, you will see that they want to criminalise a journalist. “For instance, if a journalist breaches the ethical code, you want him to go to prison; we said no. There are ways that we can sanction the persons as practitioners. “We can suspend the person and we can also get the NUJ to strike out the membership of such an individual instead of sending the journalist to jail. These are the grey areas we feel should be struck out in the amendment.” Meanwhile, the Chief Executive Officer of Media Career Development Service, Lekan Otufodunrin, said the amendment bill and the Decree 4, enacted by the President, Major General Muhammadu Buhari (retd.), in 1984 during his regime as military Head of State, are the same. During an interview on Monday with one of our correspondents, Otufodunrin said the two pieces of legislation were meant to stifle the press in Nigeria. Otufodunrin said, “Decree 4 was during the military regime and even then, it was heavily criticised by journalists and this led to the imprisonment of some prominent journalists. “The interesting thing then was that when Buhari came in, he said he was going to tamper with press freedom and he did. This Press Bill, as well as the NBC Bill are just indications that this government seems determined to stifle the press freedom we have. “It is quite unfortunate that this is coming under a democratic system of government. They can amend law because the laws have been in place for years and it is believed that events must have overtaken them, but what they are proposing is totally different. “This is an attempt to stifle press freedom and it is a deliberate act to control and monitor the activities of the media. “Most people would not have been aware because they planned to do it in a quiet way. They came for Twitter when nobody expected it but we are hopeful that members of the House of Representatives will listen to the voices of reason from the media stakeholders.” Otufodunrin also said it was shocking that the Minister of Information and Culture, Lai Mohammed, who is a lawyer, could support the move. “The Minister of Information used to be the Publicity Secretary for the All Progressives Congress and we saw how he used the media and social media to counter the Peoples Democratic Party and bring his principal to power. “For someone who is also a lawyer and knows about the importance of the press, it is quite shocking even in his office as the Minister of Information,” he said. Also, the Editor, Premium times, Idris Akinbajo, said media practitioners should not be deterred. He said, “Nigeria is slipping down the ladder when it comes to the freedom of press. “With this direction, it is same with the Decree 4. The media should not allow themselves to be cowed into submission and they should ensure they report objectively and courageously.” TheEditor of The Cable, Kolapo Olapoju, said the bill should not be allowed to scale through because it was against the democratic system of government. He said, “The law will gag the media. It is not in the best interest of democracy and that of the media to have such a law in place. It is going to suppress freedom of speech to a large extent. Such law would put the media at the mercy of the government.” Also, a media practitioner, Amb. Yemi Farounmbi said, “The NPC amendment bill would definitely stifle dissemination of information in the country which is guaranteed in Section 22 of the 1999 constitution. “The Ministry of Information and Culture has not comported itself well and it should have a rethink. “Decree 2 and 4 stifled information. Decree 4 particularly stifled information that was factual. What mattered was that it must not be brought to the notice of the public. Decree 4 dealt only with the print media that time because of its role but with technology it would be extended to other outlets.” By Solomon Odeniyi and Deborah Tolu-Kolawole Source:https://punchng.com/media-bill-buhari-re-introducing-decree-4-under-different-guise-say-stakeholders/

Popular activist, Aisha Yesufu has said security agents have the mandate to go after bandits and kill them. Yesufu, who took to her Twitter handle on Monday, said bandits have killed and inflicted terror on the land, hence the justification for their annihilation. She stated this, countering the stance of a popular Islamic cleric, Sheikh Ahmad Gumi, who stated that killing bandits will only worsen the security situation in the country. Gumi, in an interview with Punch, insisted that the government could not protect schools without first finding a means to end banditry in the country. “To secure schools, why not engage the bandits. Engage them; they are not many. You can count them with your fingers. How can you guard schools? It is not possible. In the whole North-West, they may not be more than 100,000 bandits. And that is just a drop in the ocean. That is talking about those with weapons; because not all of them have weapons. Ninety percent of those who have weapons use them to protect themselves against cattle rustlers. They are victims too. Aerial bombardments will only worsen the situation because when you start killing their children, you remember they also have our children,” he added. But, in a Twitter post, Yesufu explained that God had said transgressors, such as bandits, should be dealt with. She wrote, ”Bandits should be killed! They have killed and inflicted terror on the land. God said we should never be transgressors but we should not run or turn our backs on those who transgress against us. So the security agents must go after bandits/terrorists and annihilate them.” By SaharaReporters, New York Source:http://saharareporters.com/2021/06/21/security-agents-must-go-after-bandits-and-kill-them-%E2%80%94-aisha-yesufu-counters-sheikh-gumi