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Wike Advocates True Federalism …As HOS, Others Chart Course For Growth

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The Rivers State Governor, Chief Nyesom Wike has called for urgent need by the Federal Government to address critical issues of fiscal federalism, corruption and injustice if Nigeria should move forward as a nation.
In an address shortly after taking national salute and march past for 56th Independence anniversary at the Sharks Stadium, Saturday, in Port Harcourt, the Rivers State governor said failure to address these areas have contributed hugely to slow progress of the nation.
He observed that the nation was sinking irreversibly down the abyss, stressing that only a united front will salvage the country, and set it on the path of growth.
The governor regretted that either by commission or omission, the Federal Government has dragged the country into its worst economic crisis where Nigerians find it difficult to feed.
In his special address during the 56th Independence celebration at the Sharks Stadium, Wike lamented that ordinary Nigerians are dying daily from ailments that are ordinarily curable.
The governor declared: “Just look at the situation of our country at this material time. Never in history has the seeds of disunity, distrust, hatred; intolerance, violence, and terrorism proliferated in our country than now, not even in the years of the civil war.
“By acts of omission or commission, the Federal Government has pushed the nation into its worst economic nightmare. With inflation on the loose, poverty is increasing as ordinary Nigerians are finding it difficult to have one decent meal in a day. Families are losing loved ones to curable ailments simply because they can no longer afford necessary medications to sustain their health and vitality.
“Worse still, just as our collective security is being threatened by the activities of motley terrorist groups, such as the Boko Haram insurgents and Fulani herdsmen, most Nigerians are increasingly becoming disillusioned with the country’s failing national institutions, for their inability to mirror the nation’s character and values.”
He added: “It looks as if the country is sinking irreversibly into the abyss, but this is what happens when a country is economically weak and dependent. The need, therefore, for all of us to work together with the three levels of government, to deliver real and sustainable economic independence to our country and our people remains the greatest challenge before all.”
Wike said that the earlier the thorny issues affecting the nation are addressed, the better for the development of the country.
He noted that the people of Rivers State are proud of their contributions to the development and economic growth of Nigeria, pointing out that they deserve to be rewarded according to their inputs to the sustenance of the country.
“As Rivers people, we are proud of our contributions to the unity and progress of the Nigerian nation. We remain committed to preserving the unity and indivisibility of Nigeria. All that we ask in return for our loyalty and commitment is justice, mutual respect and just recompenses for our contributions and sacrifices to the economic and social wellbeing of the country”, Wike said.
He explained that the Rivers State Government, through policies and programmes, has empowered the people and improved their living condition.
Wike said: “As a deliberate social policy, we concentrated more resources to improve physical and socio-economic infrastructure in the state. Accordingly, apart from several major roads that we have already completed and commissioned, work on all ongoing road projects spread is progressing very well”.
He pointed out that projects in the area of infrastructure, health and education have improved the living conditions of the people of Rivers State.
The 56th Independence anniversary celebration witnessed march pass by the police, paramilitary voluntary organisations and schools.
The governor also released the white pigeons signifying peace.
Meanwhile, Head of Service, Barrister Rufus Godwins, has said that Rivers State has contributed immensely to Nigeria’s existence for the past 56 years.
Godwins while calling for prayers for the country, urged Nigerians not to lose hope, noting that,”some countries would have split due to some of the challenges we have here.”
He urged the country leaders to learn from the Wike administration in the state by utilizing the little resources available to better lot of the state.
On her part, Commissioner for Agriculture, Mrs. Onimim Jacks, suggested that the country should exploit agric as a way to overcome its economic challenges.
She said, “A lot has been said about swindling resources because the emphasis has been much on oil. We should be talking about agriculture now, and that for me, is the way to go. An investment in agriculture, if put together, is sustainable, and can create a lot of jobs.”
For the paramour ruler of Abua Kingdom, King Kale Ogbuge, every country faces one challenge or the other at one point, hence there is need to put hands together to move the country forward.
Ogbuge called for more efforts to develop the rail system to link all state capitals, in order to reduce pressure on available roads.

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Minister Blames Judiciary For Prisons’ Congestion

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The Minister of Interior, Ogbeni Rauf Aregbesola, has blamed the congestion in Nigeria’s correctional facilities on the country’s Judiciary, explaining that the Nigerian Correctional Service (NCOS) was not allowed by law to reject inmates sentenced to correctional centres or to release them.
Aregbesola, represented by Special Adviser on Nigerian Correctional Service, Suleiman Tala, stated this while delivering a paper at a policy advocacy conference entitled, “Decongestion of Correctional Centres: Status Quo”, organised as part of the 60th-anniversary celebration of the Order of The Knights of St Mulumba, Nigeria, Lagos Metropolitan Council, which was held in Lagos, adding that the primary responsibility of NCOS is to hold offenders pending the adjudication of their cases before a law court.
“It is important for the public to be aware that the NCOS and the Ministry of Interior are trying their best to tackle the issue from different angles as the length of time the inmates stay at the custodian centre is not determined by NCOS but by the justice system. I may not be able to reiterate exactly what the challenges are with the judiciary, however, as it affects the NCOS we are doing all we can not to compromise the traditional responsibility of the NCOS,” he stated.
Representing the Inspector General of Police, Baba Usman, Lagos State Commissioner of Police, Hakeem Odumosu, accepted that the police contribute to the congestion but gave his reasons.
“Inconsistence of the appearance of police officers to give evidence at trials has been identified as one of the alleged causes of prolonging trial but the IGP has mandated officers must attend court cases as at when due. The police are being hampered by a high level of distrust between the citizens and their police institution,” he stated.
Also at the conference, Lagos State Catholic Archbishop, Alfred Adewale Martins, who was represented by Rev. Paschal Uwaezeapu, stated that decongestion of the prisons would continue to be a matter as long as the government has refused to fix the country.
“The prison would continue to be congested if we don’t fix the society. As long as our society is a place where everybody takes for himself without considering the neighbour then our prison would continue to be congested. If we need to fix the prison we need to fix the family. These prisoners come from a family. We need to fix the education system also. We need to promote justice, without all these, the prison will soon overflow,” he stated.
Meanwhile, the Lagos Metropolitan Grand Knight, KSM William Adebisi, urged the government to declare a state of emergency on the congestion of prisons.
“The government needs to take the matter seriously as it affects the health of the inmates, economy of the company and behavioural change of the inmates,” he stated.

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FG Seeks $3bn With Eurobond Offer

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The Federal Government has announced plans for a Eurobond issuance in the International Capital Market (ICM) to raise $3billion.
The Debt Management Office (DMO) said, yesterday, that Virtual meetings with investors have been scheduled for today, and September 20, 2021.
It said, “In order to avail local investors the opportunity to invest in the Eurobonds, meetings will also be held with local investors.
“This is the first time local investors will be included in the Roadshows, and this is one of the reasons why a Nigerian Bookrunner (Chapel Hill Denham Advisory Services Ltd) was appointed as one of the Transaction Advisers.
“Through the Eurobond issuance, Nigeria is expected to raise up to $3billion but no more than $6.2billion.”
According to the DMO, the issuance for which all statutory approvals have been received, would be to implement the New External Borrowing in the 2021 Appropriation Act and that “Proceeds are for the financing of various projects in the Act.”
The agency gave further insight, saying, “In addition to providing funding to part-finance the deficit in the 2021 Appropriation Act, the issuance of Eurobonds by Nigeria benefits the country in many other strategic ways; amongst which are: 1. It is an inflow of foreign exchange, leading to an increase in External Reserves.
“External Reserves help support the Naira Exchange Rate, and Nigeria’s sovereign rating.
“When Nigeria raises funds externally, through Eurobonds, it frees up space in the domestic market for private sector and sub-national borrowers. In effect, it helps the sovereign not to crowd out other borrowers in the domestic market.
“The issuance of Eurobonds by Nigeria has opened up opportunities for Nigeria’s corporate sector notably banks, to issue Eurobonds to raise capital in the ICM.
“By so doing, their capital base has been strengthened to provide banking services whilst also meeting regulatory requirements. Nigeria has a sovereign yield curve in the ICM, extending up to 30 years.
“The local listing of Nigeria’s Eurobonds on the Nigerian Exchange Ltd. and the FMDQ Securities Exchange Ltd., have increased the range of products on these two (2) exchanges and their respective market capitalization.
“Overall, Eurobond issuances by Nigeria and the investor meetings that precede the pricing have provided a strong global platform for Nigeria to tell its own story and opportunities available in Nigeria for investors.”
The Transaction Advisers appointed by Nigeria for the issuance were: International Bookrunners – JP Morgan, Citigroup Global Markets Limited; Joint Lead Managers -Standard Chartered Bank and Goldman Sachs; Nigerian Bookrunner – Chapel Hill Denham Advisory Services Ltd; Financial Adviser – FSDH Merchant Bank Ltd; while White & Case LLP, was appointed International Legal Adviser; and Banwo&Ighodalo would serve as Nigerian Legal Adviser.
The last time Nigeria accessed the ICM was November 2018.

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Insecurity: Put Nigeria First, FG Tells Media

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The Federal Government has tasked the media to put Nigeria first in the reportage of the country’s activities, particularly the fight against insecurity.
The Minister of Information and Culture, Alhaji Lai Mohammed, made the call in Abuja during the ceremony of the renaming of the News Agency of Nigeria (NAN) Headquarters Building after the former Managing Director and Board Chairman of NAN, late Wada Maida.
Mohammed said it may seem obvious and trite, but for any professional, including a journalist in Nigeria to be able to carry out his or her responsibility at all, the nation must first exist, in peace.
“In other words, if the country goes down, all professionals and everybody go down. It is that stark, and this is why I want to use this platform to appeal to our media to put Nigeria first”, Mohammed said.
Speaking further, the minister said if one picked up most newspapers, watched most television stations or listened to most radio stations in the country, one will be right to think Nigeria is a country at war.
While acknowledging that there were challenges in the country, especially in the area of security, Mohammed, however, said the Buhari administration had not only acknowledged the challenges, it is earnestly tackling the challenges.
“A good example is the decisive manner in which our gallant troops are tackling the banditry in the North-West or the way they are combating the terrorists in the North-East. Our security agencies have also successfully tackled the separatists in the South-East and South-West and the militants in the South-South. Unfortunately, these efforts have only been perfunctorily reflected in the reportage of the security challenges that we face. This is not only unfair, especially to those who are sacrificing their lives to keep us safe, it is unpatriotic.
“To illustrate the damage this non-acknowledgement of the efforts of the security agencies pose to the country, let me tell you what transpired when I recently hosted some members of the Nigerians in Diaspora Organisation (NIDO) UK Chapter, who visited me in my office here in Abuja. They said some of their colleagues who would have come to Nigeria for their programme tagged,‘A Week in and For Nigeria’ during the month of July, did not come out of fear of the security situation in Nigeria. However, those who made the trip said they travelled to their hometowns across the country and returned to Abuja safely. If Nigerians in the diaspora can be afraid to come to their country, imagine how foreigners, including investors and tourists, will feel about coming to the country.
“Whatever image problem Nigeria is suffering from today is mostly due to the unflattering portrayal of the country by the country’s media.
“Even when some media organisations report fake news, they never have the decency to retract such stories and apologise. They simply move on as if nothing has happened.
“We are not saying the media should not report on the security challenges we face. All we are saying is: Be fair and report accurately the efforts being made by the state and federal governments to tackle the challenges. Even if you don’t want to encourage the men and women in uniform fighting to keep us safe, please don’t discourage them with negative reporting. The security challenges we face today will be successfully tackled and Nigeria will not cease to exist, despite the antics of naysayers”, Mohammed added.
Mohammed congratulated the family, friends and associates of the late Maida for the great and much-deserved honour done to him.
He commended the management and staff of the NAN for coming up with the idea to immortalise the late Maida.
“The Federal Government’s decision to approve the proposal was not difficult, upon realising the role played by Alhaji Wada in making NAN the respectable agency that it is today. A man who was everything from Zonal Editor to Foreign Correspondent to Editor-in-Chief to Managing Director to Board Chairman, a man who built this glistening NAN headquarters edifice deserves to be immortalised by the organisation he served so well in his lifetime”, Mohammed stated.
Mohammed prayed that God will continue to comfort and strengthen the family of Maida, even as he prayed that the soul of the departed continues to rest in peace.

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