Politics
RSHA And Task Of Debt Management
The Rivers State Government recently obtained a revolving loan of N200bn from banks for project execution in the State, with a plan of repayment through Internally Generated Revenue on an agreed interest rate.
The decision of the State Government is in apparent conformity with the desire of the Rivers State Governor, Rt Hon. Chibuike Amaechi to complete all projects initiated by his administration. In seeking the loan through a request of approval by the State House of Assembly, the Governor explained that it does not imply that Rivers State was broke, rather it became necessary to meet up targets by ensuring that money is not a constraint to speedy delivery of ongoing projects.
In the course of its deliberation and subsequent approvals of the two loan requests, the Rivers State House of Assembly, certified that the internally Generated Revenue, (IGR) profile of the state was buoyant enough to service the loans on agreeable terms. The State lawmakers also consented to the necessity of the loan in view of the “many people oriented project embarked upon by the Governor”. The Assembly therefore gave the governor smooth ride to stave off all distractions through its legislative backing.
Pundits and virulent critics of the Government has however expressed reservation over its decision to obtain the loans, referring to it as “a booby trap for fiscal impropriety and profligacy in the State”.
In the general estimation of analysts, the propensity for loan is a predisposition to mortgaging the economic future of the state to serving of accruing interest of accumulated loans.
Analysts believes that Rivers State by all standard is disposed financially to carry out projects without recourse to borrowing, and as such accuse the State Assembly of a tacit connivance to squander the state resources.
But the Rivers State House of Assembly Stand by its decision and as a follow up is exploiting its legislative will to augment governments decision and to get it appropriately channeled towards accountable governance. Recently the State Assembly initiated a bold move to forestall the looming prospect of a debt burden for the State.
The initiative came at the instance of the leader of the Assembly Hon Chidi Iloyd through a privately sponsored bill, calling for the establishment of a debt management office in the state. The bill referred to as “Rivers State Debt management office (Establishment) bill 2011”, is an initiative of the Emohua born lawmaker to strengthen the Rivers State Government on borrowing and debt management to forestall a crippling debt burden in the State.
Introducing the bill on the floor of the House, Hon Chidi Iloyd, said “the law is to provide for the raising of loans through the issuance of bonds, notes and other debt securities and for connected purposes”.
He said the bill when passed as law; “will serve as a legal framework to guide the government in the raising of bond and loan for pursuance of projects, building of infrastructure for the economic development of the State”.
Reacting to public criticism of the bill, Hon Chidi Iloyd denied allegations that the bill stands to institutionalized profligacy in the spending of public fund, by giving limitless powers to the Governor to Squander the state. Hon Ilyod said the bill was part of the process of consolidating the state revenue based.
The bill had undergone its first and second readings on the floor of the house and it is presently been debated upon by members of the state Assembly.
The bill which has 27 clauses and 28 citations, came under debate on the floor of the House after members gave it proper perusal and digesting it details for proper deliberation.
While the lawmakers appreciated the fact that Government’s decision to borrow, presupposes the fact that there must be proper management of the loan obtained for fiscal propriety in the state, some of them expressed reservation on the workability of the bill.
In his contribution on the floor of the House, Hon Victor Ihunwo representing Port Harcourt constituency III called for the withdrawal of the bill on the grounds that it demerits out-weights it merits. Hon Ihunwo reasoned that beyond creating employment opportunities for Rivers people, “the bill did not include how the debt management will brief the House periodically to avert the temptation of borrowing by subsequent governments. He also argued that the state do not require more borrowing.
Debating on the issue, Hon Golden Chioma kicked against the recommendation that the Rivers State Commissioner for finance should be the head of the debt management office.
He called for an independent chairman for the office arguing that the state commissioner for finance was already saddled with executive functions. He called for fresh nominees to appear before the House for screening for appointment as directors of the debt management office, while the Hon Commissioner for finance, the secretary to the State Government, (SSG) and the Accountant General of the state should serve as members.
Hon Chioma who supported the bill, said it was in line with ‘the federal government act which made provision for the establishment of debt management office” while calling for the domestication of the bill in Rivers State, he said the five years duration of tenure recommended for the directorate should be reduced to four years.
Hon Ikunyi Ibani of Andoni Constituency, supported the bill and stated that “if the government is committed to borrowing it should also have a modified means of repayment.
He thanked the leader for sponsoring the bill and tasked the Assembly on the need for proper monitoring of the loan facilities.
His words: “If the Assembly has power to grant the executive request to borrow it also has the power to regulate the mode of repayment”. Hon Ibani also suggested that the debt management office should be established as a department in the Rivers State Ministry of Finance.
Hon Augustine Ngo of Abua Odual constituency who also supported the bill said it was timely and also provided the opportunity for “the Assembly to put the records straight and wade off criticism and media hypes over alleged endorsement of profligacy in public spending”. Hon Ngo also shared the same view with Hon Chioma that the directors should be fresh nominees to be screened by the Assembly.
Hon (Dr) Innocent Barikor of Gokana Constituency also supported the bill on the ground that it will check the tendency of abuse of public fund. He said people with proven integrity and the right technical expertise should be appointed in the directorate.
Also contributing, Hon Belema Okpokiri, of Okrika constituency said the establishment of the debt management office was necessary but suggested that “overriding powers should be vested in the Assembly on the activities of the office”.
Hon Michael Chinda representing Obio/Akpor Constituency I, described the establishment of the debt management office as “part of Government planning strategy on debt management.”
Hon Chinda called for the inclusion of a clause in the bill stipulating that “all debts incurred by a particular government should be zeroed to bearest minimum, by ensuring that all such debts are liquidated within the last lapse of the administration.” He also suggested that the Attorney General of the State should be a member of the board of directorate of the debt management office.
Hon Gift Nwokocha of Ogba Egbema Ndoni Constituency I, supported the bill and pointed out that, “issues of debt management is necessary but it is important to know when it is necessary for the state to borrow and when not to borrow”.
The deputy speaker of the State House of Assembly, Hon Leyii Kwane who presided over the session, said the bill debated on the floor of the house was critical to the development of the state, and added that members will be given due opportunities to contribute on the issue.
The Rivers State debt management office (establishment) bill 2011, is the first privately sponsored bill since the resumption, of the 7th House of Assembly in Rivers State. Subsequent deliberation of the House will determine if the bill will scale through as law.
Taneh Beemene
Former Senior Special Assistant to ex-President Goodluck Jonathan on Domestic Matters and Social Events, Dr Waripamowei Dudafa, has praised the Bayelsa State Governor, Senator Douye Diri on his formal defection to the All Progressives Congress (APC).
Dr Dudafa, who is also a former member of the Bayelsa State House of Assembly and one time commissioner for Local Government, Chieftaincy and Community Development, described the governor’s decision as a wise and well-considered move that aligns the State with the centre for accelerated development and greater political inclusion.
“Governor Diri’s decision reflects his pragmatic leadership style which has always been guided by consultation, inclusiveness, and the pursuit of the common good.
“Your Excellency, your decision to work in harmony with the ‘Renewed Hope Agenda’ of President Bola Ahmed Tinubu which is in synergy with your ‘Assured Prosperity’ vision will undoubtedly bring about the needed transformation and development for the people of Bayelsa State and the Niger Delta at large.
“Since assuming office, your guiding principle has been clear and consistent — to consult widely, act in the public interest, and deliver measurable development outcomes. That same principle has informed your latest political alignment, and it will continue to serve as a compass for your Assured Prosperity Administration”, he said.
He further praised the governor’s performance in office, stating that Gov. Diri’s administration has been characterized by purposeful governance and tangible results, reaffirming his continued loyalty and support for the governor, while also assuring that he and his associates will keep identifying with the Gov Diri’s administration in the collective effort to sustain peace, unity, and progress in the state.
While restating his continued solidarity with the governor’s leadership in the state, Dr Dudafa promised to lend his support to ensure that he finishes strong.
“Governor Diri’s political maturity and developmental focus have repositioned Bayelsa for a brighter future”, he added.
The Tide further learnt that Dr Dudafa once served as Special Adviser to a former governor of the State on Youth Mobilization and Empowerment.
“I want to again commend the governor for his courage and vision. His alignment of the State with the federal government under the Renewed Hope Agenda is a step toward ensuring inclusive governance and attracting more federal presence to the state”, he said.
By: Ariwera Ibibo-Howells, Yenagoa
A publication circulating online had quoted Alhaji Sheriff as saying, “It’s not me; it’s Shettima who created Boko Haram.”
But in a statement issued on Saturday, Alhaji Sheriff dismissed the report as a “complete fabrication” aimed at misleading the public and stirring political discord.
“The said story is a complete fabrication, devoid of truth, and a deliberate attempt to mislead the public, malign the person of Senator Sheriff, and sow discord within the nation’s political landscape,” the statement read.
Alhaji Sheriff said he never granted any interview or spoke to any journalist on the matter, adding that the falsehood was designed to undermine his long-standing commitment to peace and national unity.
“This false report is not only mischievous but also a dangerous piece of fake news aimed at undermining years of Senator Sheriff’s contributions to peace, national unity, and development, both in Borno State and across Nigeria,” the statement added.
The former governor urged members of the public and the media to disregard the publication, noting that he had directed his legal team to identify and pursue those behind the story.
“Senator Sheriff has instructed his legal team to take immediate steps to identify all individuals, bloggers, or media outlets responsible for the dissemination of this defamatory material.
“Should the false publication not be retracted and taken down forthwith, the Senator will not hesitate to seek full legal redress under the law”, his media office said.
Alhaji Sheriff reaffirmed his commitment to Nigeria’s security, stability, and democratic values and vowed to ensure that the spread of misinformation does not go unpunished.
Politics
Anambra Guber: I’m Not Impressed, LP Candidate Says …As Observers Lament Vote-buying, Low Voters Turnout
Mr Moghalu spoke to journalists on Saturday shortly after casting his vote at Uruagu Ward 1, Nnewi.
He urged the Independent National Electoral Commission (INEC) to rise to its responsibility of making the process credible.
He also alleged voter apathy, attributing it to people’s lack of confidence in the electoral process.
Mr Moghalu said that even though it was too early to say whether the process was free, fair, and credible, he was not impressed.
“I am not impressed; there were no issues of glitches, at least for now. As we go along to monitor the process, we’ll confirm. In terms of voting, there’s an improvement over previous elections.
“I can’t say it’s free and fair because if you monetise a process, you weaponise poverty. What’s free about it? There’s no doubt there’s low voter turnout, and that has been the trend,” he stated.
The LP’s flag bearer stated that it was incumbent on INEC to continually improve the process, as voter apathy is a manifestation of a loss of confidence in the people.
Reports from Yiaga Africa, European Union Support to Democratic Governance in Nigeria (EU-SDGN) II, and other partner organisations indicated that voter turnout was low in most polling units across the 21 local government areas of the state.
Speaking to journalists in Awka, the Executive Director of Yiaga Africa, Mr Samson Itodo, identified vote-buying and low turnout as recurring issues observed in the thematic areas of the election.
Also, Asabe Ndahi of the Kukah Centre decried logistical challenges, including the late arrival of the Independent National Electoral Commission (INEC) and security officials in high-risk areas, such as Nkwelle-Ezunaka, Ihiala, Ogbaru, and Nnewi South.
She added that incidents of vote-buying and voter intimidation were recorded in several local government areas.
that votes were being traded for between N15,000 and N30,000.
“It is sad that bad governance is fuelling vote buying and selling.
“For an unemployed youth who sells his vote for ?30,000, what will he be paid next month when there is no election?
“By selling your vote, you are saying no school, no hospital, no jobs and selling away your future. This is worrisome”, he said.
He called on journalists to play an active role in exposing and curbing the menace.
The former presidential candidate also described all the hopefuls in the governorship race as his friends.
“Whoever wins, let him serve the people. Nigeria needs service now. We need to pull our people out of poverty,” he said,
Earlier, Mr George Moghalu, LP governorship candidate, said despite the heavy deployment of security personnel for the election, he had received reports of widespread vote-buying.
He also described the trend as “most unfortunate”, and warned that the crime undermines the integrity of the electoral process.
Mr Moghalu added that he remained optimistic on the outcome of the election, as he had campaigned extensively and presented his manifesto to the electorate.