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Nigeria goes aborrowing!

Jonathan seeks Assembly’s nod for N1.3tr loan
Senate claims ‘strange’ N1tr in 2012 budget
NIGERIA’S debt profile is set to rise by N1 trillion. President Goodluck Jonathan, who says he is in dire need of funds to execute some critical projects…

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GOODLUCKJONATAHNJonathan seeks Assembly’s nod for N1.3tr loan

Senate claims ‘strange’ N1tr in 2012 budget

NIGERIA’S debt profile is set to rise by N1 trillion. President Goodluck Jonathan, who says he is in dire need of funds to execute some critical projects, wants the National Assembly to clear the coast for him to borrow N1.3 trillion from the World Bank, African Development Bank (ADB) and others.

The President in a letter he wrote to the Legislature yesterday, urged it to endorse his bid to borrow N1trillion (about $7,905,690,000) for the execution of the projects. There were also concerns in the Upper House yesterday that the 2012 budget was not properly packaged by the Executive arm of government.

The country’s external and domestic debts as at September 2011 are put at N6.189 trillion. The domestic debt is N5.3 trillion while the external stock is $5.6 billion. The Federal Government owes $3.316 billion while the 36 states of the federation owe $2.317 billion, bringing the total external debt owed by the two tiers of government to $5.633 billion.

If the Legislature approves the N1.3 trillion being sought by the President, Nigeria’s debt stock will rise to N7.489 trillion.

The Senate Committee on Appropriation, which is scrutinising the budget, alleged that Ministries, Departments and Agencies (MDAs) had smuggled N1trillion into the document.

In a statement, the panel’s chairman, Mohammed Maccido, said the MDAs smuggled the funds for various projects and that made the budget presented to the lawmakers different from the one sent by the President to the National Assembly.

Curiously, the alleged figure is the amount Jonathan wants clearance from the National Assembly to borrow.

Also yesterday, the Senate faulted the calls by some prominent Nigerians for the convocation of a Sovereign National Conference (SNC).

In a communication to the Senate and the House of Representatives, the President explained that the fund would be used for Pipeline Projects for the Medium Term (2012-2014) as outlined in the 2012-2014 External Borrowing Plan.

Jonathan further said the plan was designed to create jobs for Nigerians and grow the economy.

The letter read in part: “I wish to inform you that a number of special initiatives were designed to put the economy back on track through growth and employment activities geared towards the implementation of the Transformation Agenda.

“The Pipeline Projects are at various stages of completion. Therefore, I present herewith a total external pipeline borrowing in the amount of $7,690,000 or $2.64 billion a year being cumulative facilities offered by the World Bank, African Development Bank (ADB), Islamic Development Bank, Exim Bank of China and Indian Lines of Credit.”

The President urged the National Assembly to note that the objectives of the projects conformed with the Transformation Agenda of his administration and cut across various sectors of the economy, adding that the initiatives were meant to put the economy on track through growth and employment.

The Senate, which formally reacted to the calls by some Nigerians for a sovereign conference to discuss the state of the nation, declared that the summit was unnecessary.

At a press conference, Chairman of Senate Committee on Information, Media and Publicity, Enyinnaya Abaribe, said individuals, who have suggestions on the matter could forward them to the National Assembly, stressing that it is the Legislature that is constitutionally allowed to decide such issues on behalf of Nigerians.

“We were elected to represent the people of Nigeria. We don’t think there is any matter under the sun that the Senate will shy away from. I don’t know why they insist on having a Sovereign National Conference. We are not against any group meeting to discuss any issue in Nigeria, that is the essence of democracy but we cannot have democracy without democrats. But if we want to change the constitution, there is the National Assembly. All that is required is for them to bring their suggestions through their representatives and it will receive attention.

“Any Nigerian can send any bill or his opinion on anything about the country. If we have anything, we will say is off limit, it is the unity of Nigeria.”

On the plan by the Federal Executive Council (FEC) to borrow from foreign financial outfits, Abaribe said it had nothing to do with Nigeria being broke. He said the issue would be debated and the position of the Senate made public.

Meanwhile, Senate President David Mark has advised the Upper House standing committees to take the budgets of the ministries under them to the Appropriation Committee for final action, noting that ‘’Thursday (tomorrow) is the deadline and any committee that fails to do so will have itself to blame because such ministries will not have funds for 2012.”

But Maccido, who insisted that the MDAs overloaded the budget, said:  “The problem is that we are seeing projects that are not in the original version of the budget presented to us by the President and substantial part of these projects are being smuggled into the budget by the MDAs and ministers. Over 40 per cent of the projects in their budgets are not in the original budget. And we are saying no to the items so smuggled into the budget, which are over N1 trillion. So, we are right now comparing the budget as originally presented by the President and the version presented by the MDAs. Unless these projects are there in the original budget, we are going to scrap them. It’s no longer going to be business as usual. These people are just smuggling in projects that are not in the budgets. And we are going to remove them,‘’ he said.

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew
Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Governor AbdulRahman AbdulRazaq

Following the outbreak of violence in some quarters of the State, Governor Abdulrahman Abdulrazaq of Kwara State has declared a 24-hour Curfew on the state starting on Saturday.

Governor Abdulrazaq made this known in a statewide broadcast on Friday night.

Recall that on Friday some residents of Ilorin, the Kwara State capital stormed the warehouses where the government stored COVID-19 palliatives expected to be distributed to citizens.

Also Read: BREAKING: Lagos Government Relaxes Curfew

The warehouses, located at the cargo warehouse of the International airport in Ilorin as well as the agro-mall located in the Sango area of the state were totally ransacked as residents struggled to pack as much food items as they could.

Abdulrazaq said, “Lives are being threatened. Businesses are being looted. Public properties have been targeted. This is unacceptable. It is not who we are.

“To curb these acts of criminalities, I hereby declare a 24-hour curfew in Ilorin metropolis from midnight today October 23rd, 2020. This is in line with Sections 1, 2, and 4 of the Public Order Act Chapter 382 Laws of Federation of Nigeria 2004.

“People are urged to stay indoors in compliance with this curfew. This will be reviewed as we watch developments.

“Our observation is that what has happened today is not a protest, it cannot be defended under any guide, it was a pure act of criminality as some people are hiding under the guise of nationwide protest.”

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

Two PUNCH journalists, Femi Dawodu and Segun Odunayo, were on Wednesday brutalised by policemen guarding the Lagos State House of Assembly in Ikeja.

The duo had gone to cover events around the Alausa area, a major demonstration ground of the #EndSARS protesters calling for a total overhaul of the Nigeria Police Force.

According to the PUNCH, both Odunayo and Dawodu were recording a live video of activities in the area when the policemen accosted them and ordered them to stop the recording.

After showing the policemen their identity cards, indicating that they are journalists covering #EndSARS protests and monitoring compliance with the government-imposed curfew, the policemen became annoyed and pounced on them.

Odunayo said the policemen tortured them for four hours, adding that they stripped them of their clothes, laid them on the floor, beat them with a stick and guns, and took a video recording of them while torturing them at the Lagos State House of Assembly.

Odunayo said, “Femi and I were at the Secretariat in Alausa around 7 am and were doing a live video of the activities going on in the area. We were heading back to the expressway when a group of armed policemen accosted us at the Lagos State House of Assembly roundabout and immediately collected our phones. We showed them our ID cards, but they refused to let us go.

“What got the policemen annoyed was that we saw them using a stick and a rubber to beat a young man, and during the live video, they heard me saying that they were beating someone. So, after they arrested us, they tortured us and demanded that we should do another live video denying the statement, but we refused.

“Each Time we refused, they slapped us, used a stick to beat us, used the butt of their guns to hit our heads and bodies after stripping us of our clothes. All they wanted was for us to do another live broadcast to claim that we lied and we didn’t because we told the truth.”

Dawodu said it took the intervention of the state Police Public Relations Officer, Muyiwa Adejobi before they were released at the Alausa Police Station, adding that before their release, the policemen took their details, including their addresses, took a video record of them and threatened to go after them if any negative report was published about what happened.

He said, “The policemen were transferring the aggression of what is happening regarding the #EndSARS protest on us. They later took us to the Divisional Police Station in Alausa, and if not for the DPO, the policemen guarding the LSHA that arrested us would have done more grievous things to us.

“The PPRO and the DPO later spoke with them, and we were released.

“But despite his intervention, we were told to write statements. They collected our details, address, took video recordings of us making false statements during the torture, and threatened to use it to blackmail and go after us if we end up doing any bad report against them.”

Sahara Reporters

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

Lekki Concession Company in their press release has debunked the rumour that the Lekki Toll Gate CCTV camera was not removed.

Lekki, Ikoyi tolls will rise on February 1 – LCC - Ivory NG

According to the press release by the company which condemns the unlawful killings of the peaceful protesters said no one gave the order for the removal of the Closed Circuit Television System as the CCTV is still intact as of the time of this report.

Speaking further, the concession company revealed that if the CCTV was to be removed, it would require the use of machinery to reach the heights that they have been installed.

Read the release report below;

Image

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Nigeria goes aborrowing!

Jonathan seeks Assembly’s nod for N1.3tr loan
Senate claims ‘strange’ N1tr in 2012 budget
NIGERIA’S debt profile is set to rise by N1 trillion. President Goodluck Jonathan, who says he is in dire need of funds to execute some critical projects…

Published

on

GOODLUCKJONATAHNJonathan seeks Assembly’s nod for N1.3tr loan

Senate claims ‘strange’ N1tr in 2012 budget

NIGERIA’S debt profile is set to rise by N1 trillion. President Goodluck Jonathan, who says he is in dire need of funds to execute some critical projects, wants the National Assembly to clear the coast for him to borrow N1.3 trillion from the World Bank, African Development Bank (ADB) and others.

The President in a letter he wrote to the Legislature yesterday, urged it to endorse his bid to borrow N1trillion (about $7,905,690,000) for the execution of the projects. There were also concerns in the Upper House yesterday that the 2012 budget was not properly packaged by the Executive arm of government.

The country’s external and domestic debts as at September 2011 are put at N6.189 trillion. The domestic debt is N5.3 trillion while the external stock is $5.6 billion. The Federal Government owes $3.316 billion while the 36 states of the federation owe $2.317 billion, bringing the total external debt owed by the two tiers of government to $5.633 billion.

If the Legislature approves the N1.3 trillion being sought by the President, Nigeria’s debt stock will rise to N7.489 trillion.

The Senate Committee on Appropriation, which is scrutinising the budget, alleged that Ministries, Departments and Agencies (MDAs) had smuggled N1trillion into the document.

In a statement, the panel’s chairman, Mohammed Maccido, said the MDAs smuggled the funds for various projects and that made the budget presented to the lawmakers different from the one sent by the President to the National Assembly.

Curiously, the alleged figure is the amount Jonathan wants clearance from the National Assembly to borrow.

Also yesterday, the Senate faulted the calls by some prominent Nigerians for the convocation of a Sovereign National Conference (SNC).

In a communication to the Senate and the House of Representatives, the President explained that the fund would be used for Pipeline Projects for the Medium Term (2012-2014) as outlined in the 2012-2014 External Borrowing Plan.

Jonathan further said the plan was designed to create jobs for Nigerians and grow the economy.

The letter read in part: “I wish to inform you that a number of special initiatives were designed to put the economy back on track through growth and employment activities geared towards the implementation of the Transformation Agenda.

“The Pipeline Projects are at various stages of completion. Therefore, I present herewith a total external pipeline borrowing in the amount of $7,690,000 or $2.64 billion a year being cumulative facilities offered by the World Bank, African Development Bank (ADB), Islamic Development Bank, Exim Bank of China and Indian Lines of Credit.”

The President urged the National Assembly to note that the objectives of the projects conformed with the Transformation Agenda of his administration and cut across various sectors of the economy, adding that the initiatives were meant to put the economy on track through growth and employment.

The Senate, which formally reacted to the calls by some Nigerians for a sovereign conference to discuss the state of the nation, declared that the summit was unnecessary.

At a press conference, Chairman of Senate Committee on Information, Media and Publicity, Enyinnaya Abaribe, said individuals, who have suggestions on the matter could forward them to the National Assembly, stressing that it is the Legislature that is constitutionally allowed to decide such issues on behalf of Nigerians.

“We were elected to represent the people of Nigeria. We don’t think there is any matter under the sun that the Senate will shy away from. I don’t know why they insist on having a Sovereign National Conference. We are not against any group meeting to discuss any issue in Nigeria, that is the essence of democracy but we cannot have democracy without democrats. But if we want to change the constitution, there is the National Assembly. All that is required is for them to bring their suggestions through their representatives and it will receive attention.

“Any Nigerian can send any bill or his opinion on anything about the country. If we have anything, we will say is off limit, it is the unity of Nigeria.”

On the plan by the Federal Executive Council (FEC) to borrow from foreign financial outfits, Abaribe said it had nothing to do with Nigeria being broke. He said the issue would be debated and the position of the Senate made public.

Meanwhile, Senate President David Mark has advised the Upper House standing committees to take the budgets of the ministries under them to the Appropriation Committee for final action, noting that ‘’Thursday (tomorrow) is the deadline and any committee that fails to do so will have itself to blame because such ministries will not have funds for 2012.”

But Maccido, who insisted that the MDAs overloaded the budget, said:  “The problem is that we are seeing projects that are not in the original version of the budget presented to us by the President and substantial part of these projects are being smuggled into the budget by the MDAs and ministers. Over 40 per cent of the projects in their budgets are not in the original budget. And we are saying no to the items so smuggled into the budget, which are over N1 trillion. So, we are right now comparing the budget as originally presented by the President and the version presented by the MDAs. Unless these projects are there in the original budget, we are going to scrap them. It’s no longer going to be business as usual. These people are just smuggling in projects that are not in the budgets. And we are going to remove them,‘’ he said.

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Governor AbdulRahman AbdulRazaq

Following the outbreak of violence in some quarters of the State, Governor Abdulrahman Abdulrazaq of Kwara State has declared a 24-hour Curfew on the state starting on Saturday.

Governor Abdulrazaq made this known in a statewide broadcast on Friday night.

Recall that on Friday some residents of Ilorin, the Kwara State capital stormed the warehouses where the government stored COVID-19 palliatives expected to be distributed to citizens.

Also Read: BREAKING: Lagos Government Relaxes Curfew

The warehouses, located at the cargo warehouse of the International airport in Ilorin as well as the agro-mall located in the Sango area of the state were totally ransacked as residents struggled to pack as much food items as they could.

Abdulrazaq said, “Lives are being threatened. Businesses are being looted. Public properties have been targeted. This is unacceptable. It is not who we are.

“To curb these acts of criminalities, I hereby declare a 24-hour curfew in Ilorin metropolis from midnight today October 23rd, 2020. This is in line with Sections 1, 2, and 4 of the Public Order Act Chapter 382 Laws of Federation of Nigeria 2004.

“People are urged to stay indoors in compliance with this curfew. This will be reviewed as we watch developments.

“Our observation is that what has happened today is not a protest, it cannot be defended under any guide, it was a pure act of criminality as some people are hiding under the guise of nationwide protest.”

Continue Reading

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

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on

Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

Two PUNCH journalists, Femi Dawodu and Segun Odunayo, were on Wednesday brutalised by policemen guarding the Lagos State House of Assembly in Ikeja.

The duo had gone to cover events around the Alausa area, a major demonstration ground of the #EndSARS protesters calling for a total overhaul of the Nigeria Police Force.

According to the PUNCH, both Odunayo and Dawodu were recording a live video of activities in the area when the policemen accosted them and ordered them to stop the recording.

After showing the policemen their identity cards, indicating that they are journalists covering #EndSARS protests and monitoring compliance with the government-imposed curfew, the policemen became annoyed and pounced on them.

Odunayo said the policemen tortured them for four hours, adding that they stripped them of their clothes, laid them on the floor, beat them with a stick and guns, and took a video recording of them while torturing them at the Lagos State House of Assembly.

Odunayo said, “Femi and I were at the Secretariat in Alausa around 7 am and were doing a live video of the activities going on in the area. We were heading back to the expressway when a group of armed policemen accosted us at the Lagos State House of Assembly roundabout and immediately collected our phones. We showed them our ID cards, but they refused to let us go.

“What got the policemen annoyed was that we saw them using a stick and a rubber to beat a young man, and during the live video, they heard me saying that they were beating someone. So, after they arrested us, they tortured us and demanded that we should do another live video denying the statement, but we refused.

“Each Time we refused, they slapped us, used a stick to beat us, used the butt of their guns to hit our heads and bodies after stripping us of our clothes. All they wanted was for us to do another live broadcast to claim that we lied and we didn’t because we told the truth.”

Dawodu said it took the intervention of the state Police Public Relations Officer, Muyiwa Adejobi before they were released at the Alausa Police Station, adding that before their release, the policemen took their details, including their addresses, took a video record of them and threatened to go after them if any negative report was published about what happened.

He said, “The policemen were transferring the aggression of what is happening regarding the #EndSARS protest on us. They later took us to the Divisional Police Station in Alausa, and if not for the DPO, the policemen guarding the LSHA that arrested us would have done more grievous things to us.

“The PPRO and the DPO later spoke with them, and we were released.

“But despite his intervention, we were told to write statements. They collected our details, address, took video recordings of us making false statements during the torture, and threatened to use it to blackmail and go after us if we end up doing any bad report against them.”

Sahara Reporters

Continue Reading

Uncategorized

CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

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on

CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

Lekki Concession Company in their press release has debunked the rumour that the Lekki Toll Gate CCTV camera was not removed.

Lekki, Ikoyi tolls will rise on February 1 – LCC - Ivory NG

According to the press release by the company which condemns the unlawful killings of the peaceful protesters said no one gave the order for the removal of the Closed Circuit Television System as the CCTV is still intact as of the time of this report.

Speaking further, the concession company revealed that if the CCTV was to be removed, it would require the use of machinery to reach the heights that they have been installed.

Read the release report below;

Image

Continue Reading

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