₦airaland Forum

softtorce:
Yes till tomorrow
Your wailing next start

Philipponzaghi:
Wow, what a surprise, the governor doesn't appreciate being held accountable for the budget, how shocking!

AntiMarxist:
The IGP should withdraw all police men from the SE for just one week .

I want to check something

The Kaduna State House of Assembly says it dug deep and unearthed a “monumental heist” carried out in the state in the guise of project execution during the eight years of former governor, Nasir El-Rufai.


The Chairman, Fact-Finding Committee and Deputy Speaker of the State House of Assembly, Henry Magaji, in a statement in Kaduna on Wednesday said findings revealed a litany of poorly executed projects, abandoned projects, and projects that exist only in the imagination of executive scammers.

“The attention of the Kaduna State House of Assembly has been drawn to a press conference addressed by some senior political appointees of the immediate past administration of Malam Nasir El-Rufai. In the press conference, the former political appointees made strenuous efforts to pick holes in the report of the Probe Committee. They resorted to name calling and wild allegations on the motivations for the House Probe.”


He noted that the press conference was just a rehash of the vituperations and innuendoes heaped on them by the former political appointees in their first press briefing, saying that there was nothing new that should warrant our response.

He added that they failed to address the main issue, which is the systematic and coordinated cornering of the resources of Kaduna State through phoney contracts and outright looting.

Magaji said, “The State House of Assembly, in line with its constitutional mandate and in response to public demand, carried out a thorough probe into the humongous debts incurred by the immediate past administration without commensurate projects. We dug deep and unearthed the monumental heist carried out in Kaduna State in the guise of project execution. Our findings revealed a litany of poorly executed projects, abandoned projects, and projects that exist only in the imagination of executive scammers.”


He explained that the members have called on anti-corruption agencies to step in and invite indicted persons for questioning, stressing that it is the anti-corruption agencies that can either validate or disprove our findings, not individuals who spent their days in public office cornering the common patrimony of the people of Kaduna State and mortgaging the future of its children and grandchildren.

He urged the former political appointees to deploy their energies towards preparing their defences before the anti-corruption agencies, and eventually the courts, pointing out that the House of Assembly is not in a battle of wits with them.

According to him, “We have done our duty to the people of Kaduna State. Let them answer to the charges of malfeasance, abuse of office, disrespect for the law and due process leveled against them.


“We are currently in court with the head of the indicted administration, Malam Nasir El-Rufai over the issue of fair hearing. We shall not comment on the matter because it is sub-judice. We stand for the rule of law and due process.”

He stated that they are elected representatives of the people and are accountable to the people with constitutional responsibility to make laws and carry out functions for the welfare, safety and security of the people.

“The probe carried out by the House is in furtherance of the oath we took to advance the interests of the people of Kaduna State. The few political appointees who have been making desperate but futile moves to denigrate the House and cover up the alleged fraud perpetrated by the previous government represent no one but themselves. If they genuinely have the interest of Kaduna State and are truly men and women of integrity, they would have applied themselves to developing the state instead of participating in the alleged pilfering of its scarce resources,” he explained.

Goodvibes007:
God bless and keep Reno Omokri for us. This is one of the kind of stuff I like to read on Nairaland.

sIfioksq:
Tinubu continues to demonstrate strong leadership and dedication to moving Nigeria forward, despite the challenges posed by past PDP rule. His

The Chief Whip of the Senate, Ali Ndume (APC, Borno South), has claimed that President Bola Tinubu is unaware of the current situation outside the Presidential Villa.

Speaking to journalists on Wednesday at the National Assembly complex in Abuja, Ndume alleged that the President has been fenced off and caged by certain forces.

Ndume expressed concern over the lack of appreciable action by the President in addressing the security challenges plaguing the country.

He stated that Nigerians are increasingly frustrated by the Tinubu-led government’s perceived failure to tackle poverty, insecurity, hunger, and other pressing issues.

“Mr President is not in the picture of what is happening outside the Villa. He has been fenced off and caged. Many of us won’t go through the backdoor to engage him.

“Now, they have stopped him from talking, and he doesn’t have public affairs managers, except for his spokesman, Ajuri Ngelale, who writes press statements. Nigerians are getting very angry,” Ndume said.

He also highlighted the urgent need for the government to address food scarcity, warning that the unavailability of food could exacerbate the current crisis.

“The government is not doing anything about the food scarcity, and it needs to act urgently. We don’t have food reserves. A food crisis is the worst crisis any nation can encounter. If we add that to the security crisis, it will be severe,” he said.

Ndume urged the President to become more aware of the realities facing the nation.

“The President should wake up. It seems he isn’t in the picture of what is happening because he has been caged off by plutocrats. He should open his doors and meet those who will tell him the truth,” he added.

He said, “Unfortunately, the people who will tell him the truth won’t struggle to meet him. I am very worried, not only for the President himself but for myself.”

On the issue of the farmer-herder crisis, Ndume criticised stakeholders for not being sincere in addressing the problem, noting that contributions have often been driven by ethnic sentiments.

In an earlier interview with BBC Hausa on Wednesday, Ndume pointed out that the Federal Government’s inability to address these issues remains a significant challenge.

He further alleged that some ministers are unable to meet with Tinubu to discuss important matters.

“The major problem with this government is that its doors are closed, to the extent that even some ministers cannot see the President, not to mention members of the National Assembly, who do not have the opportunity to meet with him and discuss the issues affecting their constituencies,” Ndume said.

sIfioksq:
Tinubu's track record of successful leadership and economic development in Lagos has earned him the support of Nigerians, unlike Atiku who has a record of corruption and failed promises. Elrufai's threat is baseless and will not deter Tinubu's supporters from backing him in 2027.

softtorce:
Tinubu is a failure no doubt but can you imagine Peter Pandora Obi Anambra is still pay only 18K as minimum wage in the same 2024 ?! What sort of legacy is this n this is the clown Nigerians are suppose to vote instead of Tinupoo. Tinubu as offered 60K already. ?

Chiefpriestt:
Nigerian govt has failed woefully under Tinubu

Bethel4Life:
Biggest One Man Opposition

I hail the incoming President 👍✌️

The presidential candidate of the Labour Party, Peter Obi, has explained that his unwavering commitment to building a better nation through investing in the critical areas of human and national development; health and education, is ultimately for the good of the nation and the future of society.

Obi made the remarks on Monday, when he paid a visit to Grimard College of Nursing Sciences, Anyigba, Kogi State, where he donated N10 million to the College for the training of nurses, who he said, are at the centre of primary healthcare delivery in the nation.

He stated that Nigeria is today undeveloped because the nation has not aggressively invested in the critical areas of development, which he said are; health, education and pulling people out of poverty.

He maintained that the nation is, today, facing serious challenges of insecurity and other socio-economic challenges due to lack of investment in these critical areas.

“I have not only remained consistent in urging governments, at all levels, to invest more in health and education, but I have also continued to call on donor agencies to do the same. Our investment in the future of our children is for the good of society and the progress of our nation,” Obi said.

Addressing the nursing students, Obi reminded them that they are in a noble profession which cares for humanity.

“I am particularly concerned about the training of more nurses who play very vital roles in caring for the health of society. As experts continue to warn of a severe shortage of nurses, we must remain proactive by investing in their training, through that, we can have enough for our domestic health sector, and export more to the global community,” he added.

Obi thanked the Proprietor of the College, Bishop Anthony Ademu Adaji; the Management and the Staff of the College for their commitment to training compassionate and competent healthcare professionals.

“Our commitment remains to build a New Nigeria which offers Nigerians access to good healthcare and educational opportunities. It is POssible,” Obi concluded.

Nyamiriflathed:
Zero tribalism in that post. Your mind is biased or maybe some sort of insecurity. I also went through his posts, it's 99% American politics.

Nyamiriflathed:
Going through the back and forth, you were the one that brought tribe into the discuss.

Since when did mentioning name turn to tribalism?

saxywale1:
John Eze popularly called Obidient flagboy or Obi flagboy. While his mates are creating several hunger threads on Nairaland, he is hitting the streets to protest about hunger instead which is better.

saxywale1:
Hunger protest.

Fixed.

saxywale1:
A bigot calling someone else bigot. Lol. He is a well known Obidient on twitter, and I care less if his name his Hassan or Akin or Chinedu. You find bigotry when you go on a search for it which is what you have done.

helinues:
Na the name of the guy be that?

FaceTanke:
Thats a patriotic citizen

NIGERIA is sinking deeper into another debt trap. This is after the country’s debt-to-GDP ratio recently crossed the 50 per cent threshold for the first time since 1991. The Bola Tinubu administration inherited a debt-to-GDP ratio of 38 per cent. But fresh borrowings, securitisation of the Ways and Means advances, a failure to tackle fiscal challenges such as low crude output amid soaring government expenditure, and a sluggish GDP growth rate have pushed the ratio to 52.9 per cent. This is significantly above the prudential debt ceiling of 40 per cent prescribed by the International Monetary Fund for developing countries.

The current figures raise the question of debt sustainability in a country that has allocated 30 per cent of the 2024 budget to debt servicing.

The latest figures by the Debt Management Office show a public debt portfolio of N121 trillion comprised of a domestic debt of N65.6 trillion and a foreign debt portfolio of $42.1 billion or N56 trillion.

Nigeria’s finance managers have usually prided themselves on maintaining a relatively low debt-to-GDP ratio compared with its African peers. As of 2023, Ghana had a debt-to-GDP ratio of 84.9 per cent, South Africa 72.2 per cent, Kenya 70.1 per cent, and Egypt 95.8 per cent.

The rising debt-to-GDP ratio is bound to severely constrain Nigeria’s ability to expand the borrowing needed to fund the budget deficit. Huge increases in debt service obligations worsen this. Nigeria spent N7.8 trillion to service its debt obligations in 2023, a 121 per cent increase compared to N3.52 trillion in the previous year.

A PwC report projected that Nigeria’s debt service could rise from N8.25 trillion in 2024 to N9.3 trillion in 2025 and N11.1 trillion in 2026. This may affect the country’s debt servicing ability, credit rating outlook, and borrowing cost.

In 2005, Nigeria faced an unsustainable debt scenario, with a total revenue of around $9 billion and a debt portfolio of approximately $36 billion. The Olusegun Obasanjo administration made a historic deal with the Paris and London Club of Creditors that allowed Nigeria to buy back about $30 billion of its $32 billion external debts through a one-time cash payment of $12 billion.


Since that clean slate, the public debt has continued to rise progressively again. Under President Muhammadu Buhari, public debt rose from N12.6 trillion in 2015 to N97.3 trillion by 2023. Between December 2023 and March 2024 alone, public debt has increased by N24.3 trillion. The COVID-19 pandemic, a double recession, and lower oil revenues have been adduced as reasons for the borrowings.

Nigerians hardly have anything to show for the huge public debts.

Rail and road infrastructure remains in a poor state nationwide. Health and education facilities are in a shambles. Power is absent in a country where citizens provide the essentials for themselves.

The only seeming beneficiaries of the borrowing spree have been political officeholders and government employees whose lavish lifestyles are supported by the borrowed funds.

That Nigeria is sinking into another debt trap shows that the National Assembly is not living up to expectations. In its typical rubber stamp fashion, it has allowed a regime of fiscal irresponsibility by the executive. Parliament should monitor the country’s finances, promote accountability, and curb wastage. The Nigerian equivalent seems fixated on reckless spending on non-essential fancies like new presidential jets.

More prudence needs to be applied in managing financial resources. Fiscal leakages such as oil theft, contract inflation, outright looting, and ‘ghost workers’ must be stopped. The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, must see this as a tipping point and draw up measures to ensure that the country’s debt profile is sustainable.

Punch Editorial

wellmax:
Good one. I pray they succeed

Hope the gbajue guy won’t call this a misplaced priority