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Continuous Borrowing May Force Nigeria Into Avoidable Bankruptcy – PDP Governors

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Governors elected on the platform of the Peoples Democratic Party (PDP) on Monday raised an alarm over the rate at which the All Progressives Congress (APC) is borrowing money to fund projects in the country.

This formed part of the resolutions reached at the end of the meeting of the PDP Governors’ Forum held in Uyo, the Akwa Ibom State capital.

“Money should only be borrowed for productive purposes as Nigeria’s current debt of over N36 trillion is becoming clearly unsustainable relative to our earnings and GDP.

“We should not saddle incoming generations with an undue debt burden. The borrowing spree of the APC administration if unchecked will certainly lead Nigeria into avoidable bankruptcy,” a communique issued at the end of the meeting read in part.

The governors decried that the debt profile of Nigeria with over 80 per cent of normal appropriation spent on debt servicing was rising and becoming uncontrollable.

They stated that all the gains of the PDP government under former President Olusegun Obasanjo when the nation exited its foreign debt obligations had been destroyed.

The governors accused the present administration of borrowing for frivolous items, stressing that such an action was scandalous.

They faulted the operational system and methods of the Central Bank of Nigeria (CBN) which they claimed was functioning as an independent government-within-a-government.

“A situation where CBN creates money, decides how much of it to spend, on what to spend it on without any form of controls or supervision is patently subversive of our constitutional order.

“It has become not just a leviathan, but also a Father Christmas of sorts, dabbling into every sphere and scope of governmental activity, not just as a lender of last resort, but as a full executing agency of government,” the communique read.

It added, “The meeting observed that the CBN has become such an octopus that it threatens state governments publicly, without decorum, about sanctions on any attempt to question its Modus Operandi. The CBN should take immediate steps to halt the depreciation of the naira.”

On Insecurity
The governors also called for the decentralisation of the operations of the security apparatus of the state, even within the existing legal framework.

They explained that the move became necessary in the face of the disturbing spate of insecurity in the land, to ensure the input of local operators in state and local governments in policing and security.

The governors decried that President Muhammadu Buhari seemed not to be aware that the coercive instruments of state security were firmly within his hands and not the governors, considering his recent media interview on the subject.

They reminded the President that he has ultimate authority under the Constitution over the security organisations, even though the states have a role to play.

The leaders believe cooperation and synergy between states and the Federal Government in security operations were critical in securing the nation and its people.

They stated that despite being on the Exclusive List, the states spend huge sums of money to support the police and other security agencies to carry out their duties.

The governors called on the National Assembly to expedite action in passing the Electoral Act and Constitution amendments to ensure restructuring and decentralisation of governmental powers and functions.

 

 

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Politics

Akpabio To Peter Obi: Resolve Crisis In LP Before Aspiring To Be President

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The Senate President, Senator Godswill Akpabio, has responded to Peter Obi, the 2023 Presidential candidate of the Labour Party (LP), over his recent comments that the “labour of our heroes past is all in vain’.

Akpabio advised Obi to first resolve the internal issues in his “Labour party” before aiming for the presidency of Nigeria.

Akpabio’s remarks came on Thursday during the valedictory session in honor of the late former Federal Commissioner for Information and South-South leader, Chief Edwin Clark.

He stated that if Obi cannot address the ongoing crisis within the Labour Party, he lacks the moral authority to govern a larger, more complex country like Nigeria.

What Peter Obi said
Obi, in his tribute on Wednesday during the memorial lecture and day of tribute for Chief Clark in Abuja, had praised “Clark’s life of courage, sacrifice, and value”.

He also expressed concern about the current state of Nigeria, stating that the sacrifices of past leaders such as General Gowon and former President Jonathan were in vain.

Obi pointed out the absence of protests in response to the recent fuel price hikes, contrasting this with the widespread protests during Jonathan’s time over similar issues.

He also criticized the Nigerian government, claiming that there is no democracy and lamenting the accusation that his criticism of the government amounted to “demonizing” the country.

Akpabio’s response
In response, Akpabio remarked: “If you cannot resolve the crisis in your Labour Party, how can you solve the crisis of Boko Haram or other major national issues?

“I urge those aspiring to lead Nigeria to first address the issues within their own parties.”

He also took the opportunity to highlight his achievements as a former governor.

He said: “I can proudly speak about the dualized thoroughfares in my city, the international hospitals, and the digitalized governor’s offices.

“I also initiated free and compulsory education and worked towards religious unity by sponsoring over 5,800 Muslims and over 12,000 to 15,000 Christians on pilgrimages to Rome and Jerusalem.”

Akpabio concluded by saying that while social media can be a tool for communication, it is largely unregulated and often used to sow division.

He urged Obi and other presidential aspirants to first resolve their party issues before focusing on the national stage.

 

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APGA Adopts Tinubu As Candidate For 2027 Presidential Election

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President Bola Tinubu
President Bola Tinubu
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The All Progressives Grand Alliance, APGA, has officially adopted President Bola Tinubu as its candidate for the 2027 presidential election.

Governor Charles Soludo of Anambra State made the announcement on Thursday in Awka.

He claimed that APGA and the All Progressives Congress, APC would work together during the election, as both parties share a common belief in progressivism.

The announcement was made at Alex Ekwueme Square in Awka during the President’s working visit to the state.

Soludo said, “Progressives are working together.”

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Three Katsina PDP Reps Defect To APC

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Three members of the House of Representatives from Katsina State elected on the platform of the Peoples Democratic Party, PDP, have officially dumped the party for the ruling All Progressives Congress, APC.

Speaker of the House, Rajudeen Abbas, announced this on the floor of the House during plenary on Thursday.

A letter from the defectors was read by the Speaker.

The defectors cited the lingering internal crisis and unresolved issues within the PDP as the major reasons behind their decision to leave the party.

They further stated that the instability within the PDP has made it difficult to effectively serve their constituents and align with progressive governance.

Governor Dikko Radda of Katsina State, in a show of solidarity and support, was present in the chamber to witness the lawmakers’ formal defection to the APC.

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