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Senate Approves FG’s 2022-2024 External Borrowing Plan

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The Senate has approved President Bola Tinubu’s request on the 2022-2024 external borrowing rolling plan of 7.4 billion dollars and 100 million euros.

This followed the adoption of report of the Senate Committee on Local and Foreign Debt at plenary.
Presenting the report, Sen. Haruna Manu, the Vice Chairman of the Committee, said the committee noted with utmost importance, the genuine and very serious concerns of Nigerians about the level and sustainability, serviceability of the nation’s borrowing activities in the last decade.

He said the debt service figures constitute a huge drain on the nation’s revenue to the extent that it accounts for over 30 per cent of its expenditure in the annual budget.

Manu said due to the shortfall on the nation’s annual revenue in relation to its need for rapid infrastructural and human capital development, the National Assembly have had to pass deficit budget every year.

This, he said required borrowing to finance the deficit in the budget.

Manu said the borrowing request seeking approval of National Assembly was proposed to be borrowed from various financial institutions.

According to him, the proposed projects in the Ministries’ of Education, Agriculture and Women Affairs were mostly ongoing projects and programmes in respect of which external borrowed funds have been spent in the past, including loans.

He said the projects have a great multiplier effect on stimulating economic growth through infrastructure development, job creation and poverty alleviation, stimulation of commercial and engineering activities.

The Taraba senator said the projects also have consequent tax revenues payable to government as a result of the productive activities.

He said the committees found that the World Bank has expressed its willingness to provide funds to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability and to also ensure that all existing grid-connected capacity is utilised to deliver more power.

According to him , the projects are also intended to improve states’ land administration, business-enabling environment and public Private partnership.

Similarly, Senate also gave expeditious approval for securitisation of the balance of N7.3trillion
ways and Means revenue in the Consolidated Revenue Fund (CRF) of Nigeria.

The approval followed the consideration of President Bola Tinubu request in a letter addressed to President of Senate, Godswill Akpabio and read at plenary.

Senate also confirmed the appointment of Executive Commissioners for the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

This followed the adoption of the report of Senate Joint Committee on Petroleum Upstream on screening of the nominees.

Those confirmed were Bashir Indabawa North-West , Executive commissioner, exploration and acreage management

Kelechi Ofoegbu , South-East, Executive Commissioner, Corporate Services and Administration.

Enorense Amadasu South-South , Executive Commissioner, Development and Production.

Babajide Fasina South-West,Executive Commissioner, Economic Regulation and Strategic Planning.

Senate thereafter,adjourned plenary until Jan 23. (NAN)

POLITICS

Court Nullifies Ebonyi PDP Congresses

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Federal Capital Territory High Court
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By Godwin Okeh, Abakaliki

A Federal High Court sitting in Abakaliki, Ebonyi State capital, on Monday nullified the  Ali Odefa faction of the Peoples Democratic Party (PDP) ward, local government and state congresses in the state.

The faction had few weeks ago, conducted ward, local government and state congresses to elect new leaders of the party.

In a  suit no.

FHC/ AI/CS/183/2024 between Nnenna Lynda Udeh 12 others, the applicant prayed the court to set aside the congresses for being unconstitutional.

Delivering  judgment on the suit, the presiding Judge, Justice Hilary  Oshomah ruled that purported  congresses  were void,  unconstitutional and of no effect.

The court  further restrained the Independent National Electoral Commission(INEC) which was the 2nd defendant in the suit from recognising any of the officers purportedly elected from the voided and nullified congresses.

When contacted for reaction, the national vice chairman of the party, Ali Odefa said he will respond to the ruling of the court at the appropriate time.

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I Will Leave Lasting Legacies in Infrastructure Dev. – Diri

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From Mike Tayese, Yenagoa

Governor of Bayelsa State, Senator Douye Diri, has said he is determined to leave lasting legacies in infrastructure development as he considers it a rare privilege to govern the state.Senator Diri stated this on Saturday during a gala night organised by the state government in honour of members of the Nigeria Guild of Editors (NGE) at the Chief DSP Alamieyeseigha Memorial Banquet Hall in Yenagoa.

The event rounded off the three-day 20th All-Nigerian Editors Conference(ANEC) held in the state capital.
Governor Diri said he treats issues of development of the state seriously as he is aware that constitutionally he is allowed only two terms in office.He assured that with his deputy, they will keep doing their best in the remaining three years for Bayelsans to feel the impact of their service to the state and to the country.
He said: “For us, it is a rare privilege to serve our people. Opportunity like this does not come often. By the constitution of Nigeria, I am barred from contesting again as governor of Bayelsa State.“So, the only thing that will speak for me, my deputy and most of us in this administration, is the legacy that we leave in terms of both human and material infrastructure. “Developing the state is now in our hands and we will keep doing our best in the remaining three years so that when we leave, the state will continue to feel our impact having travelled this eight-year journey in service to people of Bayelsa State and Nigeria.”While responding to remarks of the NGE president, Governor Diri approved the request to institute an annual lecture to honour and immortalise a foremost nationalist and pioneer editor of Daily Times, late Mr. Ernest Sesei Ikoli, an indigene of Bayelsa State, beginning from 2025.He also granted an appeal by the Guild’s president for two interns at the state-owned Niger Delta Television (NDTV), who missed out when the governor directed the employment of 13 of their colleagues when he visited the station last year.In his address, the NGE President, Mr. Eze Anaba, expressed gratitude to Governor Diri for being a perfect host and for recognising the essential roles editors play in shaping the society.Mr. Anaba also stated that the support of the governor during the conference was an indication of the importance he attached to a free and responsible press.While highlighting the various project sites visited, he expressed appreciation to the governor particularly for constructing an iconic media complex named after Ernest Ikoli.In a welcome remark, the Bayelsa State Commissioner for Information, Orientation and Strategy, Mrs. Ebiowou Koku-Obiyai, commended the Guild for promoting excellence in journalism and for successfully organising the 20th ANEC.Highpoint of the night of glitz and glamour was the presentation of an award to Governor Diri by the Guild and the induction of 12 new members.Two initiators of the ANEC, Halilu Baba Dantiye,m and Angela Agoawike were also honoured by the Guild.Present at the event were the Deputy Governor, Senator Lawrence Ewhrudjakpo, member representing Sagbama/Ekeremor Federal Constituency in the House of Representatives, Dr. Fred Agbedi, Secretary to the State Government, Dr. Nimibofa Ayaowei, and Deputy Chief of Staff, Government House, Mr. Irorodamie Komonibo.Others were the publisher of Vanguard Newspapers, Dr. Sam Amuka-Pemu, presidential media aide, Mr. Tunde Rahman, Senior Vice President and Editor-in-Chief of Leadership Newspapers, Mr. Azu Ishiekwene as well as other top editors, leaders and veterans of the media industry.

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Obaseki Dissolves Cabinet Ahead of Nov. 12

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Gov. Godwin Obaseki of Edo has dissolved his cabinet ahead of the Nov.12  swearing-in of Sen. Monday Okpebholo, of the All Progressives Congress (APC) as the new governor of the state.

Report says that Obaseki who came into office on November 12, 2016 is expected to end his eight years tenure on November 12, 2024.

Obaseki dissolved the cabinet shortly after a valedictory session held at the Government House on Friday in Benin.

The motion for the dissolution of the State Executive Council for 2020-2024 was moved by his deputy, Godwins Omobayo, and was seconded by the Commissioner for Budget and Economic Planning, Osilama Okuofu.

At the valedictory session, the governor commended members of the council for helping him in driving the government’s vision of making Edo great again.

Obaseki also commended citizens of the state for supporting, praying and collaborating with his administration throughout his tenure.

Members of the cabinet  took turns to eulogise the governor and acknowledged his many achievements in various sectors.

They also commended the governor for the opportunity given to them to serve the people of the state in their various capacities.

The outgoing commissioners and Heads of Ministries Departments and Agencies (MDAs) also took turns to present awards and gifts to honour the governor.

The valedictory session for the outgoing state executive council climaxed with a dinner in honour of the state governor. (NAN)

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