Connect with us

Politics

Continuous Borrowing May Force Nigeria Into Avoidable Bankruptcy – PDP Governors

Published

on

Share

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.

 

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

APC Picks Ondo Gov Candidate Apr 25, Pegs Form At ₦50m

Published

on

APC
APC Logo
Share

Ahead of the November 16, 2024 governorship election in Ondo State, the ruling All Progressives Congress (APC) has released its timetable and schedule of activities leading to the party’s selection of a candidate on April 25, 2024.

The APC timetable released late Monday was signed by the party’s National Organising Secretary, Sulaimon Argungu.

According to the party, the sale of nominations, expression of interest and delegates forms for contestants will begin on April 3 and end on April 10, 2024, while primary election is slated for April 25, 2024.

Like its governorship primary in Edo State which produced Monday Okpebholo as the flag bearer, the APC pegged the price for the Expression of Interest and Nomination forms at N10m and N40m respectively for Ondo.

The party said female aspirants and persons living with disabilities are to pay for Expression of Interest while the Nomination Form is free.

“Youths from 25 to 40 years are to purchase Expression of Interest forms with a 50% discount on Nomination Forms,” the APC stated.

Some of the top contenders for the APC ticket in Ondo include Governor Lucky Aiyedatiwa, former Ondo deputy governor, who succeeded the late Governor Rotimi Akeredolu after the latter’s death on December 27, 2023. A former Commissioner for Finance in the state, Wale Akinterinwa; as well as Senator representing Ondo South, Jimoh Ibrahim, also want the party’s ticket.

Ondo and Edo are two of the eight states where governorship elections are held off-season due to litigations and court judgements. The others are Anambra, Bayelsa, Ekiti, Imo, Kogi and Osun.

Already, political gladiators are squaring up in the two states where governorship polls will hold this year. 19 political parties are expected to field a candidate each but the polls, like previous ones, will turn out as two-horse races or at best three-horse races.

 

Continue Reading

Politics

Edo Guber Poll: Uzodinma Heads APC Primary Election Committee 

Published

on

APC-Flag
APC-Flag
Share

Chairman of the Progressive Governors’ Forum (PGF) Hope Uzodinma is to head the seven-man All Progressives Congress (APC) Edo Gubernatorial Primary Election Committee.

A statement late Tuesday night in Abuja announcing the names of various committee members by the party’s National Organising Secretary (NOS), Sulaiman Muhammad Arugungu showed that the committee will be inaugurated on Thursday by the National Chairman, Dr. Abdullahi Umar Ganduje by 4 pm.

His committee is to conduct the party’s shadow election on Saturday, February 17 in the 193 wards of Edo State to determine APC gubernatorial flag bearer in the September 21 governorship election.

Cross River Governor Bassey Otu will serve as Deputy Chairman of the committee while Alh. Rabiu Suleiman is appointed as Secretary.

Other members are former Osun Deputy Gov Mrs Titilayo Laoye-Tomori; Plateau 2023 APC governorship candidate, Dr. Nentanwe Yilwatda Goshwe, Hon. Umar Hassan and Lawan Garba.

The party also announced Barr. C. C Udenwa as Chairman of the five-man Election Appeal Committee while Alhaji Yunusa Mohammed will serve as Secretary.

The APC cleared all the 12 aspirants jostling for its ticket to contest the September Edo governorship election.

The 12 aspirants are: Prince Clem Agba; Senator Monday Okpebholo; Lucky Imasuen, Hon. Anamero Sunday Dekeri; Pastor Osagie Andrew Ize-Iyamu; Engr. Gideon Ikhine; Col. David Imuse (Rtd.); Gen. Charles Ehigie Airhiavbere (Rtd.); Prof. (Sen.) Oserheimen Osunbor; Blessing Agbomhere, Hon Dennis Idahosa and Ernest Afolabi Umakhihe.

Continue Reading

Politics

Fresh Crisis Hits Labour Party  Over N3.5bn

Published

on

Labour Party Logo
Labour Party logo
Share

A fresh crisis is brewing in the Labour Party (LP) over the 2023 general election finances.

The National Treasurer, Mrs. Oluchi Oparah, has demanded accountability from the National Chairman, Julius Abure, over N3.5 billion realized from sales of forms and other donations to the party.

Addressing a press conference in Abuja on Monday, February 12, 2024, Opara said that LP has been plagued with financial mismanagement and corruption.

She alleged that Abure owns several houses and property.

Oparah said: “I stand before you today with a heavy heart and a sense of duty to the principles of transparency, accountability, and justice. With great reluctance and deep concern, I am compelled to publicly address the media regarding the egregious financial mismanagement and corruption that have plagued our beloved party under the leadership of Mr Julius Abure, the current National Chairman.

“As national treasurer, I am constrained to come before you and the public today because the internal mechanisms of our party have failed woefully to bring Mr. Abure to account for his brazen abuse of office and misappropriation of party funds.

“His appetite for power has grown unchecked, and he has deliberately undermined my duties and authority as stipulated in the party’s constitution.”

Meanwhile, the party has dismissed the allegations.

The party’s National Publicity Secretary, Obiora Ifoh, said: “With the exception of the National Treasurer whose tenure is about to end in few weeks’ time, and who has served for 8 years as National Treasurer without a single record of party accounts, no other member of the national working committee has raised any issue of embezzlement against our National Chairman who made a pledge on assumption that the party has to be revamped.

Evidence is our proactive outing in the 2023 general election as the party presented for the first time a very good presidential candidate.

“Let it be said that the Labour Party has not earned N3.5 billion as claimed and that the National Chairman has not embezzled any money that belongs to the party as alleged.

 The records are there, except that Ms Oluchi Opara don’t even understand simple accounting even as a treasurer. An External Auditor is engaged by the party and our account is under constant scrutiny of INEC or other regulatory bodies.

“Abure does not own several houses and property as spuriously alleged by our estranged National Treasurer, even though no law prohibits him from owning properties.”

 

Continue Reading