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PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 12:04am On Mar 07, 2018
elampiro:
Can you stop deviating from the argument? Your figures from Tunde Bakare are false. Chikena!

If you want to discuss development, we can talk of rail, massive road construction currently ongoing in the country. Salary bailout to states, etc.

Okonjo-Iweala told us in January 2015 that the Federal Government under Jonathan was borrowing to pay salaries. She said further that even though they had an austerity budget for 2015 which provided for only 33 out of 210 ongoing capital projects, the Federal Government would borrow to finance 2015 budget.

When oil fell to $76/barrel, Okonjo-Iweala told Nigerians to brace up for hardship.
haaaaa very funny of you,,,
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:54pm On Mar 06, 2018
elampiro:
Our external reserve increased from $29b to $42b under three years. Even with low crude oil price.

But when oil was high, Oga Jonathan depleted the external reserve handed over to him.
And at what Domestic and External Debt.

At what Infrastructural and developmental index
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:52pm On Mar 06, 2018
elampiro:
Jonathan spent 5 years while Buhari spent 3 years. Considering this, Buhari is going far better.

In addition, Buhari is building our External Reserves while Jonathan depleted. Oil price is low under Buhari, while it was high under Jonathan.

Meanwhile don't deviate from the facts that Tunde Bakare lied with his figures.
not 3 years, because Buhari ha not even spend 3 years in office.

Again the report only reflect 2 years 3 months.

Building external reserve from where.

what are the infrastructural development justifying those ridiculus debt profile
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:50pm On Mar 06, 2018
obailala:
We live in an era of propaganda, an era when catchy misleading headlines are deliberately used freely to deceive even the most informed. Not even people like Bakare are immune from being deceived. Kudos to APC for hiring only dunderheads and drunkards as their media and publicity agents. A simple google search proves the report on this thread and many others wrong.

https://d3fy651gv2fhd3.cloudfront.net/charts/embed.png?s=nigeriaextdeb&v=201711251029v&d1=20080101&d2=20181231&type=type=column&h=300&w=600
and you point now ishuh??
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:45pm On Mar 06, 2018
elampiro:
Buhari to date: External debt $5b = N1.7 trillion

Domestic debt N4trillion

Total = N5.7 trillion
.................

Jonathan:
External debt $7b =N2.5 trillion

Domestic debt N8 trillion

Total = N10.5 trillion
For how many years:

Years duration
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:38pm On Mar 06, 2018
elampiro:
It's a big lie. Bakare fell for PDP propaganda. Why not go check the figures yourself?
Can you hear yourself out.

Our external debt increase from 10 to 15 under 3 years, shaiiiiiiiiii
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:34pm On Mar 06, 2018
@Elampiro.


was is the Domestic debt and External debt of Nigeria for 2015 to 2018.

Give us or stop your reposting
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 11:33pm On Mar 06, 2018
elampiro:
We have:

1. Federal Government External Debt

2. Federal Government domestic debt

3. 36 states plus Abuja debts.


These figures are available in the government sites and tradingeconomics.com. Tunde Bakare should have verified the figures before embarrassing himself with wrong figures
How much has Burhari borrowed from 2015 up to dates.
PoliticsRe: PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 9:53pm On Mar 06, 2018
spako4:
Even the illiterates know you are lying.
People deceiving people.

PoliticsPDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – by engineerboat(op): 9:38pm On Mar 06, 2018
PDP Borrowed N6 Trillion In 16 Years, APC Has Borrowed 11 Trillion In 3 Years – Tunde Bakare

Tunde Bakare, the leader of the Latter Rain Assembly, has said that he cannot understand what President Muhammadu Buhari and other governors were doing at the wedding Fatiha of Idris Abiola Ajimobi, son of Governor Isiaka Ajimobi, and Fatima Umar Ganduje, daughter of Abdullahi Umar Ganduje, in Kano on Saturday when when other peoples’ daughters are in captivity.

Pastor Bakare speaking at on Sunday service in his church in Lagos further said that the Peoples Democratic Party, PDP, for 16 years it spent in government borrowed N6 trillion but the All Progresive Congress, APC, just in three years has borrowed N11 trillion.

He said: “Forgive my ill-mannerism, but I could not comprehend why a governor will celebrate the wedding of his daughter, and another governor of his son, on the front pages of newspapers, flashing it before our eyes, when other peoples’ daughters are in captivity,”

“If any of them had lost a daughter in that captivity, would they celebrate that way? I know the Bible says rejoice with them that rejoice, but I do not know what the president of Nigeria was doing there.

“And somebody came to say, let me explain to you, it is Islamic tradition, before this time, about January, they had agreed, that he (Buhari) will be the one to give the bride away and (Bola) Tinubu will be the one to pay the dowry, and present the son, and they agreed long before now.

“I looked at him and said the president of Nigeria wanted to come to my daughter’s wedding, and I said to him, sir, don’t come. That is beneath your office. Face the work of the state and keep serving.

“And 22 governors showed up to mark register, when 110 daughters of citizens of your nation were captured by Boko Haram that you said you have already technically defeated?

“It just shows how insensitive our leaders are. We have gotten to a stage that our president has become a king and a monarch. That his son who rode his pleasurable bike that almost claimed his life, will be returning from an overseas trip, where he had received special healthcare that Nigerians cannot afford, that it took a whole minister of state to go and welcome him, because he has no job.”

“If you truly know the truth, you will weep, if you know how much we are owing as a nation, you will weep. For 16 years of PDP they borrowed N6 trillion, for three years of APC, they borrowed N11 trillion.

“And they are not going to pay the debt. You and I, and our children, and our children’s children will pay the debt, unless they write them off again.”


https://www..ng/news/pdp-borrowed-n6-trillion-16-years-apc-borrowed-11-trillion-3-years-tunde-bakare

PoliticsRe: Aregbesola Completed An International Airport In Osogbo In 2014: See Pictures by engineerboat(m): 6:44pm On Mar 04, 2018
deomellIo:
ipob bore me.
Kini soro he arakunrin.

Dake ariwo jare.


Airport ko, grassport ni.

Oro radarada
PoliticsRe: Underage Voting: INEC Threatening Nigeria’s Democracy - PDP by engineerboat(op): 6:09pm On Mar 04, 2018
kabrud:
What has pdp been doing about it for 16 yrs? Were they not the highest beneficiaries?
When did it start
PoliticsRe: Underage Voting: INEC Threatening Nigeria’s Democracy - PDP by engineerboat(op): 5:53pm On Mar 04, 2018
madridguy:
Meaning?
Meaning madridguy supervising his party APC underage voters with wild looking thugs threatening INEC officials
PoliticsRe: Underage Voting: INEC Threatening Nigeria’s Democracy - PDP by engineerboat(op): 5:52pm On Mar 04, 2018
kabrud:
The issue is that the small boy might have voted PDP.
Whoever he voted for is not issue.


Should that happen in the first place and INEc is sweeping this under the carpet with all excuses
PoliticsRe: Underage Voting: INEC Threatening Nigeria’s Democracy - PDP by engineerboat(op): 5:43pm On Mar 04, 2018
madridguy:
Wailing party.
The Independent National Electoral Commission (INEC) disclosed that issues of underage registration and voting in Nigeria cannot be completely prevented because officials cannot risk their lives to defy threats from community members.

https://www.pulse.ng/news/politics/officials-cant-risk-lives-to-stop-underage-voting-inec-id7988234.html

PoliticsRe: Underage Voting: INEC Threatening Nigeria’s Democracy - PDP by engineerboat(op): 5:37pm On Mar 04, 2018
Stealing BMC crew member's oya come and mark attendance

Ur acting PRO madridguy present already
PoliticsUnderage Voting: INEC Threatening Nigeria’s Democracy - PDP by engineerboat(op): 5:26pm On Mar 04, 2018
THE Peoples Democratic Party (PDP) on Sunday took to task, the Independent National Electoral Commission (INEC) Chairman, Professor Mahmood Yakubu, over the declaration by the electoral body that there are no underage voters in Kano State.



The leading opposition party described the assertion as “a despicable act of cowardice and threat to our nation’s democracy.”

In a statement issued in Abuja by PDP National Publicity Secretary, Kola Ologbondiyan, the party maintained that the INEC Chairman, “in allowing the All Progressive Congress (APC)-led Federal Government to push him to make such false declaration, despite manifest documentary evidence in the public domain and even by INEC officials, has cast a huge doubt on the sincerity of INEC to conduct a fair, free and credible elections, come 2019.”

The party said the commission has obliterated a huge part of its honour by denying what is obvious to all instead of taking urgent steps to clean up the register and correct all anomalies ahead of 2019 general elections.

The statement added: “When Prof Yakubu set up his committee of handpicked INEC officials, instead of deploying stakeholders, comprising of political parties and credible NGOs, the PDP immediately alerted of a grand design to use the panel to arrive at predetermined findings and cover the illegality for the APC. Today, we have been vindicated.


“We invite Nigerians and the international community to note the sequence of plots by INEC and the APC to hide the existence of underage voters in Kano and Katsina states.

“Nigerians will recall that when the issue first came to the fore, the APC mounted a staunch and unyielding defence for INEC, thus betraying their vested interests in the illegality.



“INEC, on its own part, issued an initial reaction confirming the existence of underage voting in the February 10, 2018, Kano council poll but attempted to shift the blame to the Kano state government which conducted that poll.

“When confronted with the fact that it was INEC and not Kano state that registered the minors and issued them with valid voters card, the commission again tried to exonerate itself by claiming that its officials registered the minors following threats by the communities.

“In the face of these INEC’s embarrassing dances, how then did Prof. Yakubu’s committee arrive at its findings when even officials of INEC, including those who superintended over the registration of the minors, had already declared the reasons behind their action?

“The entire world is shocked at how INEC under Prof. Yakubu is caving into pressure by APC to manipulate processes leading to the 2019 general election.

“In any case, we hope Prof. Yakubu understands that the APC is only setting him up against Nigerians but we caution that he should not allow himself to be used to throw our nation into chaos and confusion.



“He should, therefore, extricate himself by allowing a credible inquest that will sanitize the register in Kano, Katsina and other states as nothing short of that will be accepted by Nigerians.”


http://www.tribuneonlineng.com/underage-voting-inec-threatening-nigerias-democracy-―pdp/

PoliticsBoko Haram Contacted Me Over Abducted Dapchi School Girls’-aisha Wakil by engineerboat(op): 8:11am On Mar 03, 2018
government extended to neighbouring countries, the search for the 110 schoolgirls abducted last week in Dapchi, Yobe State, a human rights activist, Mrs Aisha Wakil, claimed a Boko Haram faction had contacted her to confirm it has the girls.

Aisha Wakil
Aisha Wakil, who is also known as Mama Boko Haram, was a member of the Dialogue and Peaceful Resolution of Security Challenges Committee in the northern region, set up during the President Goodluck Jonathan era.



In an interview with The News Agency of Nigeria, the activist said the Barnawi faction of Boko Haram contacted her on Thursday.

She added that the abductors confirmed to her that the girls were safe, healthy and in good condition.

In an interview with PRNigeria earlier this week, Wakil had called on the abductors to release the girls to enable them to be reunited with their families.


Wakil, who is said to have communication links with Boko Haram and respected by some leaders of the sect, declared that she was ready to sacrifice her life to rescue the girls.

Wakil said: They are even the ones that called me, and said Mama we heard what you have said and told me that they are with the girls and they are going to release them.


“I begged of them and said please let this not be another 1,000-plus days of Chibok girls, and they laughed and said no.

“I asked them where I can come and stay with them (girls) for two days, but they did not say anything.

“I can assure Nigerians that so far they are with my son Habib and his friends; Habib is a nice guy, he is very nice boy. He will not harm them, he will not touch them, and he will not kill them.

“He is going to listen to us, and so far he indicated interest that he loves peace. And I love them for that and believe what they said on this.

“They will definitely give us the girls. All I am begging Nigerians is to calm down, be prayerful, everything will be over in God grace”.

NAN reports that the activist had at various times participated and played key role in negotiations between the military authorities and Boko Haram insurgents’ commanders, which facilitated released of numerous abductees from terrorists’ captivity.

In a statement today, the Federal Government announced it has stepped up the search for the 110 girls to the neighbouring countries.

The Minister of Information and Culture, Alhaji Lai Mohammed, said top military and security officials on Thursday travelled to the North-east to add more urgency to the search, which has now been extended beyond the North-east theatre.

The officials include the nation’s top military officer and Chief of Defence Staff, Gen. Abayomi Olonisakin; Chief of Naval Staff, Vice Admiral Ibok-Ete Ekwe Ibas; Chief of Army Staff; Lt.-Gen. Tukur Buratai and the Director-General of the Department of State Services, Alhaji Lawal Daura.

They joined the Chief of Air Staff, Air Marshal Sadique Abubakar, who had earlier relocated to the North-east, as well as the National Security Adviser (NSA), Maj.-Gen. Babagana Monguno (Rtd), who has also visited the theatre.

The Federal Government had earlier released the names and other details of the 110 girls who have yet to be accounted for, following the attack on the GGSTC, Dapchi, Yobe State, on 19 Feb. 2018.

The panel set up by the Federal Government to unravel the circumstances surrounding the abduction of the girls was inaugurated on Thursday by the NSA.(NAN)

https://www.vanguardngr.com/2018/03/boko-haram-contacted-abducted-dapchi-school-girls-aisha-wakil/amp/
PoliticsRep: We Have Idea Where Abducted Dapchi Girls Are by engineerboat(op): 8:33am On Mar 02, 2018
Security agents searching for the 110 abducted Dapchi schoolgirls got a clue yesterday.

A member of the House of Representatives said the girls were still within Yobe State.

Rep Goni Bukar, representing Bursari/Yunusari/Gaidam Federal Constituency, told The Nation in Damaturu, the state capital, that the girls are in Bulabulin, Yunusari Local Government.

“The girls are within Yobe. We have an idea that they are in Bulabulin, Yunusari Local Government. The military is aware that Boko Haram has been in that place for over four years. They live in that place like their own city,” Bukar said.



Speaking on the efforts of the military in the search for the girls, Bukar said: “I cannot blame the military because I am speaking with those that are carrying out the operation. We have been speaking and they are telling me everything that they are doing; so, I cannot say I will blame anybody in the military. They are doing everything but I think they need to improve in their search so as to rescue those girls.

“This issue is beyond the military that we have in Yobe … It is not the issue of sending 10 policemen or 20 soldiers. It is a matter of commitment. That is what we need. If they like, let them give me the uniform and I will wear it and go and show them the place. Even the day of the incident, the chairman, member, House of Assembly and I went to Gumsa because we had information that three of the girls died along the way and they were thrown away but it was wrong information.”

The Defence Headquarters could not be reached for comment last night.

The Forum of parents of the missing girls is planning to stage a grand occupation of Damaturu , the Yobe State capital, to press the government to intensify efforts in rescuing their daughters, but are being financially constrained.

Manzo said: “We are going ahead with our plan to come to Damaturu despite our financial difficulties. We need to mobilise people to carry out our plan to visit Damaturu. But so far, all the monies we have gathered as a group is going into the prayers that we are organizing for the safe return of our daughters.”

There have been prayers for the release of the 110 abducted pupils

Participants at the ongoing 32nd National Quranic Recitation Competition in Katsina yesterday prayed for the release of the girls.

Dr Sani Abdullahi, Chairman of the Panel of Judges, led the participants and spectators in the prayer before the morning session of the competition.

Abdullahi prayed to Allah to protect the girls and return them to their families unharmed.

He also prayed to the Almighty Allah to end the insurgency in the Northeast, Zamfara and other parts of the country.

‘’Oh Allah, we pray to You to grant us peace in this country and assist these abducted school girls and prevent future occurrence,’’ Abdullahi prayed.

The Dapchi community has mobilised over 300 clerics, who are praying non-stop for the girls’ return.

The clerics, who are drawn from Dapchi and other neigbouring villages, will not stop praying until the return of the girls, Bukar said in Damaturu yesterday.

”We have gathered all the Ulamas in Dapchi into one mosque and gave them every support to start praying to God until all the girls return. Even after the convocation of the university last weekend, I went to Dapchi and met about two to three hundred of them praying for the safe return of the girls,” Bukar said.

The Chairman, Forum of Parents of the missing girls, Alhaji Basir Manzo, also said a large number of clerics had been engaged within Dapchi town and its environs to pray for the girls.

The Jama’atu Nasril Islam (JNI) has also directed Imams to conduct special prayers for Allah’s intervention in the matter.

“Likewise, fervent observance of Adhkar (remembrance of Allah) should also be ventured into by all Muslims, as it is a vital tool for easing fears, tension and uncertainties such as the myriad security challenges bedevilling Nigeria.

“Similarly, supplications in Sujood in all circumstances are also paramount.’’

Manzo said 107 parents of the missing girls were meeting on the development.

He also dispelled rumors that some of the abducted girls had made telephone calls to their parents.

“The rumors that some of the girls have called their parents are all lies. We have verified all the places but it turned out to be lies”, Manzo said.

Yesterday, The JNI also urged the Federal Government to immediately rescue all the girls.

A statement by its Secretary General, Dr Khalid Aliyu, said the circumstances of the abduction raised serious concern about the genuineness of some security agents in the fight against insurgency.

It condemned the buck passing between the police and the military over the abduction, saying it was an indication that something was seriously wrong.

The JNI said: “An example must be set – heads must roll for this negligence. Inquiry is not the only way to go.’’

“In fact, a serious government would have by now put in jail and suspended all negligent security and political chiefs who could and should have protected these innocent children, rather than the rigmarole setting up of an investigative panel,’’ the Muslims umbrella group said.


http://thenationonlineng.net/rep-idea-abducted-dapchi-girls/

PoliticsAllegations Against Bello Still Stand, But…- Kogi REC by engineerboat(op):
Allegations against Bello still stand, but…- Kogi REC



The Independent National Electoral Commission, INEC, has said despite the issuance of new voter’s card to Governor Yahaya Bello of Kogi State, he has not been left off the hook over the double registration issue, saying its decision on prosecuting him after his tenure still stands. Gov Yahaya Bello INEC said what it did was to process Bello’s right to have his voter’s card based on legal advice.

This was INEC’s submission at an interactive session with newsmen and civil society organisations in Lokoja, yesterday.

Presiding over the meeting, the state’s Resident Electoral Commissioner, REC, Professor James Apam, explained that the commission is not unaware of the circumstances that heralded the governor’s transfer of his card from Abuja to Kogi State.

His words: “We have not gone back on our stand against Governor Yahaya Bello over the double registration. But we have nothing to hold him now. And based on legal advice, we have to allow him transfer his voter’s card from Abuja to Okene.”

His rights He continued:
“The allegations against him have not taken away his rights to demand a transfer. What we did is that we treated his matter distinctly— double registration on one side, request for transfer of voter’s card on another side. But I must tell you, the allegations against him are still hanging.”

The REC also called on registered voters to come out and collect their permanent voters’ cards, PVCs, saying 202,289 are yet to be collected, representing 10 percent of the total registered voters in the state.

He said the commission, under the ongoing continuous voters’ registration, has registered 176,886 persons as at February, while 7,169 persons within the period have successfully transferred their PVCs and 9,400 cards were replaced.

Read more at: https://www.vanguardngr.com/2018/03/allegations-bello-still-stand-kogi-rec/

PoliticsRe: Fayemi Reacts To Vote Of No Confidence By Reps Channels Television by engineerboat(m): 11:01pm On Mar 01, 2018
Minister Fayehun.

Go and answer your query with House pf Rep.

Lobatan
PoliticsBuhari Plunges Nigeria Into N10 Trillion Debt In 30 Months by engineerboat(op): 3:10pm On Mar 01, 2018
According to data from the Debt Management Office (DMO), total debt profile as of early June 2015 was approximately N12.06 trillion but Director General of the agency, Ms. Patience Oniha told members of the National Assembly recently that as of September 2017, the debt stock for both the federal and state governments had risen to over N20.373 trillion.

In addition to this total, the Federal Government floated the $3 billion Eurobond in November 2017; N10.69 billion Green Bond in December 2017 and another $2.5 billion Eurobond early this month, all totalling another N2 trillion.

Prior to the Paris Club debt relief in 2004, Nigeria’s overall debt stock was $46.2 billion with external debt standing at $35.9 billion while the stock of the domestic debt amounted to $10.3 billion resulting in a total of about US$46.2 billion.

But between 2010 and 2014, the nation’s debt profile rose by $18.40 billion (N3 trillion) according to the analysis of DMO going from $35.09 billion; to $41.55billion in 2011; to $48.49 billion in 2012; $54.54billion in 2013; and $53.49 billion in 2014.

At the 2017 World Bank/International Monetary Fund annual meetings in Washington DC, last October, both the World Bank and IMF raised the issue of Nigeria’s rising debt profile, warning of the dire consequences of this should there be a slump in the price of crude oil, Nigeria’s main foreign exchange earner.

But in her defence of the government’s strategy, Finance Minister, Kemi Adeosun, told financial journalists at the meetings in Washington that, “Nigeria’s debt-to-GDP ratio is one of the lowest. We are at 19 per cent, but most advanced countries have over 100 per cent.

“I am not saying we need to move to 100 per cent, but I am saying we need to tolerate a little more debt in the short-term to deliver the rails, the roads and power so as to generate economic activities, jobs, revenue, which would be used to pay back the debt.

“What we are trying to do is to create enough headroom to invest in capital projects that the country desperately needs. I do not think there is any Nigerian that will say we do not need to invest on power, do the roads, and that will not want us to fix 17 million housing deficits, build rails and they will generate economic activities and jobs.”

She added, “Why do we have to borrow? If you think back to the problem we face, our principal source of revenue plummeted by up to 85 per cent, so we had no choice.”

At 19 per cent, Nigeria’s debt to GDP is healthy but the real issue is the debt to revenue ratio, which is what actually determines the ability of the country to repay her debts. According to Mrs Gloria Joseph-Raji, a World Bank’ Senior Economist, Nigeria’s debt to revenue went up from 35 per cent in 2015 to 60 per cent in 2016. If without the new foreign debts Nigeria currently expends 66 per cent of her total revenue on debt servicing, leaving just 34 per cent for both capital and recurrent expenditure, what sense does it make to take more debts? What economic sense does it make to borrow more to offset existing debts?

However, the Bank for International Settlements Data regards the flurry of recent Eurobond issuance as adding to an already-record debt tally for sub-Saharan Africa, which has ballooned to over $200billion from less than 30 billion in 2007.

Speaking with Reuters, a news agency, Kevin Daly, Asset Manager at Standard Life Aberdeen, said, “If you have a lot of issuance in a short period of time, that tells you something.

“Maybe these guys are realising that their borrowing costs are going to potentially go higher over the course of the year if we get a continued rise in Treasury yields and further rate hikes by the Fed.”

And according to both Finance Minister Kemi Adeosun and Oniha, Nigeria intends to lift the proportion of dollar debt to 40 percent from its current level of 27 percent, to replace expensive naira bonds with 10-year interest rates as high as 14 percent.

“Nigeria is focused on reducing the cost of our debt portfolio and ensuring we have the optimal mix between domestic and international debt,” Adeosun said.

“The proceeds of the dollar issuance … will be used to re-finance domestic debt, which is high-cost and short-term, with lower-cost international debt with a longer tenure.”

Oniha on her part told Saturday Tribune that the country’s debt management policy entails that 60 per cent of borrowing should be from the domestic market, that is, Treasury Bills, FGN Bonds, Savings Bonds and then Green Bonds, and then 40 per cent should be external.

“The reason for that strategy is that, just as you diversify your investment, you also diversify your sources of funding so you are not dependent on only one source.

“The percentage of our external debt before we went to the market in November 2017 was only 23 per cent of our total public debt.

“That was even an improvement when you compare it to 2008, 2009 where over 80 per cent of our total public debt was from the domestic market.”

Ironically, Oniha said Nigeria was borrowing more externally in order to ultimately reduce the burden of debt service, explaining that by 2016 and 2017, Nigeria was borrowing at rates as high as 17 and 18 per cent while the rate on Treasury Bills, which is a discounted instrument, got to about 18 per cent.

Describing the rates as high, the debt management boss said that was the rationale behind the government’s resort to borrowing internationally at anywhere between 6 and 7 per cent.

“If we pick the November $3billion euro bond we issued, the one for 10 years, the $1.5billon was at 6.5 per cent and the one for 30 years was 7.62 per cent.

“If you compare those to the domestic borrowing, you are making huge savings including even for the 30years.

“So for the 30 years, you are making a savings of up to 10 per cent per annual and that is huge. In terms of interest cost, which you can describe as debt service, going external reduces the growth of our debt service obligations.

“It also reduces the cost of borrowing. Then of course we were able to access longer term funds, which is what we need to build major roads, major bridges or airports.

“It is not five-year money you would use; it is long-term money for structures because structure-money is always long term because infrastructure can last several generations.”

On efforts by the Federal Government to stem down both domestic and foreign borrowings, Adeosun said, “The solution to borrowing in Nigeria is that we must pay tax. If you pay the taxes properly, there is no need to borrow. Of course, there is the responsibility on the part of government to be more responsible and efficient. We are really focusing on this. We are trying to find ways to cut cost.”

Nonetheless, there have been allegations, especially by the National Assembly that government has been diverting parts of the loans taken to projects other than those for which they were obtained.

Senate recently alleged a diversion of $600 million foreign loan meant to revive the power sector to remodelling of four airports across the country.

The said $600 million Euro bond from the Chinese government was meant for the rehabilitation of the power sector but $100 million of the said sum was said to have been used as counterpart funding for the remodelling of the airports in Lagos, Abuja, Kano and Port Harcourt.

Another investigation also revealed that about $4.8bn foreign loans obtained between 2015 and 2017 were on programmes and not projects for which they were obtained. Some of the loans include Economic Governance, Diversification and Competitiveness Support Programme (EGDCSP) getting allocation of $600m.

The programme was meant to create the fiscal space to facilitate a smooth implementation of the government’s budget, support fiscal and structural reforms, and improve the targeting of social sector spending to protect the most vulnerable segments of the population.

There was another $500m taken from the International Bank for Reconstruction and Development (IBRD) and $400m AfDB Fund for development finance institutions.

Yet again was $500m from the International Development Association (IDA) for the Saving One Million Lives, which is a scheme to expand access to essential primary health care services for women and children.

According to DMO, the Federal Government secured UA3.3m ($5.06m) and $200m for the Urban Water Sector Reform and Port Harcourt Water Supply and Sanitation projects, and $33.17m for the Ogun State Urban Water Supply Project, while the remaining $100m was for the Lagos Integrated Urban Development Project.

https://www.thebreakingtimes.com/buhari-plunges-nigeria-into-n10-trillion-debt-in-30-months/amp/

PoliticsRe: Nigerian Air Force Denies Deploying 100 Aircraft To Search For Missing #dapchigi by engineerboat(op): 1:31pm On Mar 01, 2018
APCcccccceeeeeeeeeee

Approximately 1 aircraft per each girl.



Gbosa for GMB as he fly of the aircraft himself
PoliticsNigerian Air Force Denies Deploying 100 Aircraft To Search For Missing #dapchigi by engineerboat(op): 1:26pm On Mar 01, 2018
Nigerian Air Force denies deploying 100 aircraft to search for missing #DapchiGirls

The Nigerian Air Force has denied that it is searching for the missing Dapchi schoolgirls with 100 aircraft.

The air force said a statement by the National Security Adviser on the matter was misconstrued.

Read the full statement by the force below.

The attention of the Nigerian Air Force (NAF) has been drawn to a statement being circulated to the effect that 100 NAF aircraft had been deployed in search of the missing Dapchi girls. While paying a courtesy call on the Executive Governor of Yobe State, in company of the Chief of Air Staff, on 27 February 2018, the National Security Adviser, Mohammed Monguno, indeed spoke about the number of sorties so far conducted by NAF aircraft in the course of searching for the missing girls within a stated period. Obviously, the number of sorties does not equate the number of aircraft deployed.

In a related development, the Chief of the Air Staff (CAS), Sadique Abubakar, has temporarily relocated to the Nigerian Air Force (NAF) base at Maiduguri, from where the air search operations for the missing Dapchi girls are being coordinated. This is in order to have first-hand information on the progress of the air search efforts and also give additional directives as might be necessary. The National Security Adviser (NSA), Mohammed Monguno, was equally at the NAF Base, Maiduguri, where he spoke to and encouraged the NAF personnel involved in the day and night air search operations.

Furthermore, both the NSA and the CAS visited Damaturu, where they paid a courtesy call on His Excellency, Ibrahim Gaidam, of Yobe State, during which they held useful discussions regarding the missing girls. Later in the day, the NSA, accompanied by the CAS and other top military officers, travelled to Monguno to commission new projects at 171 NAF Detachment Monguno. The newly commissioned projects include the Unit’s Headquarters Complex, a block of 4 Single Officers’ Quarters, a block of 10 flats for airmen/airwomen and 2 helipads, all of which have just been constructed.

According to the Commander of the Air Task Force, Idi Lubo, air power projection has limitations, one of which is reach. He therefore expressed his delight, noting that with the commissioning of the projects at 171 NAF Detachment Monguno, the NAF had just extended the reach of its helicopters. In his remarks at the commissioning ceremony, the CAS stated that the projects were undertaken in pursuit of the NAF’s commitment to ensuring security in the Northeast. He added that the NAF would continue to deploy air assets in all parts of the country towards ensuring that Nigerians are able to prosecute their businesses in a safe and secured environment. On the missing Dapchi girls, Mr. Abubakar declared that no efforts would be spared by the NAF in locating the girls, in conjunction with other security forces. He disclosed that NAF pilots on different NAF platforms were operating day and night to locate the girls, adding that he had decided to temporarily relocate to Maiduguri, given the import of the unfortunate incident.

While commissioning the projects, the Special Guest of Honour, Mohammed Monguno, lauded the monumental achievements of the NAF under its current leadership. He recalled that 171 NAF Detachment Monguno was only established in 2017; he was therefore surprised to see all that had been accomplished within the short period. He described the feats as a testimony to the zeal and commitment of the CAS to repositioning the NAF into a highly professional force in line with his clearly stated vision. The NSA also described the establishment of NAF presence in Monguno as being long overdue, as it would add the much needed value to the efforts of the other security agencies in ensuring peace in the Northeast. Speaking further, the NSA commended the NAF for its immense contributions to the overall efforts at degrading the capability of the Boko Haram Terrorists (BHTs) while urging NAF personnel to remain steadfast. He equally seized the opportunity to appreciate President Buhari for his support to the Armed Forces of Nigeria in ensuring the sustenance of operations.

Also commissioned yesterday, by the NSA, were a newly constructed Fire Fighting and an Aircraft Arming Bay at NAF Base Maiduguri. It is recalled that the Dapchi girls were declared missing on February 19 after reported attacks by BHTs following which the NAF immediately commenced an air search for them. The NAF has had to deploy additional air assets, including Intelligence, Surveillance and Reconnaissance (ISR) platforms, to the North-east, on February 25, in a renewed effort at locating the missing girls. The CAS was still in the North-east as at the time of writing this report.

https://www.premiumtimesng.com/news/more-news/260159-nigerian-air-force-denies-deploying-100-aircraft-search-missing-dapchigirls.html/amp

PoliticsRe: Reps Pass Vote Of No Confidence On Fayemi, Bwari by engineerboat(op): 1:23pm On Mar 01, 2018
Another Court injuction restraining the HOuse of Rep probe loading.

Myd44,

Abeg where is sarrki

Madridguy is on leave
PoliticsRe: Reps Pass Vote Of No Confidence On Fayemi, Bwari by engineerboat(op): 1:21pm On Mar 01, 2018
Buhari men on the run again whtheir their black market concession is about to be exposed
PoliticsReps Pass Vote Of No Confidence On Fayemi, Bwari by engineerboat(op): 1:13pm On Mar 01, 2018
The House of Representatives on Thursday passed a vote of no confidence on the two ministers manning the ministry of mines and steel development, Kayode Fayemi and Abubakar Bawa Bwari respectively.

Members of the House were angry that the two ministers boycotted an invitation personally signed by Speaker Yakubu Dogara to appear before them at plenary on Thursday as part of sectoral debate on how to revive the Ajaokuta Steel Company.

The lawmakers said it was unfortunate and a clear case of contempt of the parliament for Fayemi and Bwari to say that they would not attend the session due to other engagements when their ministry is at the centre stage of the Ajaokuta Company. Thus, the lawmakers resolved to constitute a powerful adhoc panel to investigate why the company has been comatose and the role of the two ministers in the allegations of under hand dealings on plans to concession the steel plant.

The lawmakers said the two ministers would not be granted any form of audience henceforth by the House due to their behaviour. Speaker Dogara had at the opening of the session told his colleagues that the ministers said they would not attend the session due to other serious engagements.

He said it was an attempt to boycott the session. Speaking, House Leader Femi Gbajabiamila said he considered the ministers' attitude as contempt of the House. "You personally signed the letter to them, unfortunately none of the ministers could sign their reply. Rather, they asked the PS to respond to you two weeks after.

"The invitation that hasn't been honoured is a serious contempt. This presentation gives ample opportunity for fair hearing. There are allegations. I believe we should take this matter seriously. Whatever we should do here today should be moved to a powerful investigative hearing.

Steel is probably more than the oil. Whatever we have in this chamber has a touch of steel in it. One of them was part of us here. "I will personally take it as an assault to the common sense of this country for the two minister to ignore, pupu and scorn an invitation of this chamber."

Also, Chief Whip Alhassan Ado Doguwa said: "At a point when the leadership of the country is talking about diversification of the economy, we have found the gold. But these relevant ministries are not ready to cooperate. "What we do here is not about you but it's for and on behalf of the generality of the people of Nigeria. For any minister to undermine an invitation of this House is to say the least unfortunate. "This is an intervention for us to save this nation from economic quagmire. I want to say that at the end of the sectoral debate, we have to take a decisive action.

"Their absence here simply means that there's something suspicious - absolutely suspicious. Most of the face-off we face with the Executive is as a result of the attitude of these ministers and the rest." One after the other, members of the House took turn to lament the development, with Rep Zakari Mohammed saying the House should not pass the ministry's budget until the two ministers tendered unreserved apologies.

https://www.dailytrust.com.ng/amplite/reps-pass-vote-of-no-confidence-on-fayemi-bwari.html

PoliticsRe: Ambode Commissions Bridge, Car Park Built By Deeper Life Church by engineerboat(m): 10:12am On Feb 28, 2018
vikithor:
Re: Ambode Commissions Bridge, Car Park Built By Deeper Life Church by roundman: 9:05am
lonelydora:
Daddy Freeze won't see this one now.

Nice one Deeper Life
Is it not daddy freeze has being talking about? If only we have more people like freeze to tell those thieving G.Os some home truth we would have been better of,his message is hitting the right spot.God bless daddy freeze

please dont call men or women of God thieves,i think its comedy taken too far ,farther from the content of this discussion.
remmeber what happen to mariam(leprosy) and aaron in the book of exodus,for scandalising moses?
Daddy wetin.

When did dady freezer start his rant.

Go and confirm when the project starts
Christianity EtcRe: Deeper Life Seals Pact With Community For Socio-economic Infrastructure Develop by engineerboat(op): 8:29am On Feb 28, 2018
At least myd44 will be able to see something to campaign for his party.

But by the time gbagada is developed lalasticlala will not be able to find snake in gbagada again hoo
PoliticsRe: Ambode Commissions Bridge, Car Park Built By Deeper Life Church by engineerboat(m): 8:26am On Feb 28, 2018

PoliticsRe: Ambode Commissions Bridge, Car Park Built By Deeper Life Church by engineerboat(m): 8:24am On Feb 28, 2018
Daddy freezer et. Al

PoliticsRe: Ambode Commissions Bridge, Car Park Built By Deeper Life Church by engineerboat(m): 8:22am On Feb 28, 2018
Daddy Freezer how market

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