Opinion
Buhari’s Foreign Loans: Matters Arising
President Muhammadu Buhari sought for legislative approval for external loans during the 8th Senate but was turned down. Amongst them was US$29.96 billion loan which, according to the object, was to fund critical infrastructure in the country. The Senate bawled that loans cannot be an option at all. Superficially, the Senate was right in a part on account of daily mega inflows to the economy. Inarguably, the country is sufficiently rich to be self-reliant for most capital projects, all things being equal.
On the other hand, the Senate stumbled knowing that the major drain pipe in the country is the Senate and its counterpart, the House of Representatives. The funds allocated to these two chambers are sufficient to fund robust infrastructure across the nation with ease. From record, Nigeria’s lawmakers are the highest paid in the world and with outrageous allowances. To review these anomalies and possibly scrap one of the chambers; either Senate or lower chamber remain a way forward.
On the foreign loans, first and foremost, it is imperative to distinguish between loans for recurrent expenditure or sustenance and that of infrastructure development. The former is an index of economic recession. On the other hand, most developed countries didn’t fund capital projects from money in the treasury but long-term infrastructure loans. To put the burden on funds in the treasury can slow down developments and negatively affect other operations.
Noticeably, President Buhari’s government has created secure revenue for the nation. Amongst them are the Treasury Single Account (TSA), Value Added Tax (VAT), other internally-generated revenues that are active. Above all, leakages in the economy have been substantially blocked which makes government to get more incomes unlike before.
Beyond doubt, Nigeria has low tax morale – apathy on payment of taxes due to high level of corruption among the ruling class. For example, it was revealed by the Research Director of the Fiscal Policy Roundtable of the Nigerian Economic Summit Group (NESG), Tayo Oyedele at the Nigeria Governors’ Forum Secretariat, Abuja recently that more than 81% of taxable adults and businesses in Nigeria do not pay their income tax. According to him, only 20 million out of nearly 200 million people do.
Suffice it to say that the ruling class must vitally restore peoples’ confidence by good leadership. For instance, during the tenure of Babatunde Fashola (SAN) as Lagos state governor, many residents enthusiastically paid taxes on account of visible transformations in the state. After his exit, perceptively, the narratives changed.
Hence, adequate revenue through taxes may not be a realistic option at the moment. The second option is concessionary technique whereby companies bid and execute projects with trade agreement; to manage infrastructure for a specified period for the purpose of recouping invested capital. Incidentally, concession of sensitive infrastructure may not augur well for the masses presently due to poverty level albeit a unique conventional template.
Back to the discourse, any government that has a secure revenue system; capacity to repay can comfortably opt for loans for infrastructural development. This is because the loans can be prudently tied to the secure inflows for settlements. There would be issues where a government has no secure means of reimbursement but liberally securing loans, which is indicative of bad governance as witnessed in the past when government relied only on crude oil.
From the record, the 2016-2018 External Borrowing Plan targeted 39 projects spread across the country which includes the East-West Road; Mambilla Hydro Power Station; Standard gauge Ibadan-Kano Rail line; Calabar-PH-Aba-Makurdi-Bauchi-Maiduguri Rail Line; 2,500 Km Power Transmission Lines and Power Transformers across Nigeria; total overhauling of Ajaokuta Steel Company and Dualization of Lokoja-Okene-Auchi-Benin Road. Thus, the loan apart from being secured is tied to infrastructure unlike the previous loan regimen.
President Buhari has presented the $29.96billion loan request to the 9th Senate for approval. Instructively, lawmakers must, above all, be guided by objectivity and public interests rather than unnecessary show of power. The sensible action is to evaluate the capacity of the government vis-à-vis repayment by its protected revenue machinery in place and not fear of being labelled rubberstamped legislature.
Economically, it is naïve to scream over loans without first considering the object and capacity of the borrower. Without making use of loan facility, the country will spend much time in planning without executions. Democracy is a time-frame system; therefore, if an administration must rely solely on available funds in the treasury, nothing substantial may be achieved in the four years an administration is billed to last.
In other words, it is immaterial the volume of loans as long as there is a secure repayment mechanism and the objects are germane. Such arrangement will equally reduce corruption as inflows will be directed to repayment schedules. Interestingly, the Constitution clothed the lawmakers with oversight functions which empowers them to supervise executive’s activities. Hence, there’s no cause for alarm. To decline loan request for infrastructural development simply for apprehension of misappropriation is gullible.
The grumble is comparable to a woman scared of pregnancy to avoid giving birth to a bad child when it is her duty as a mother to mould the child to become useful. An executive arm cannot misappropriate funds where the lawmakers that exercise oversight functions are active, awake and responsible. Besides, President Buhari, as the team leader, is arguably not characterized by such character of dishonesty, greed and imprudence.
Umegboro is a public affairs analyst.
By: Carl Umegboro
Opinion
FG’s Transport Support And Rivers Workers
The Federal Government’s approval of a N70,000 monthly transport intervention for public service workers for six months, beginning in November 2026, offers hope to employees struggling with the rising cost of living. The agreement with the Nigeria Labour Congress (NLC), reached at a conciliation meeting in Abuja on October 27, is intended to cushion transport costs and ease pressure on workers’ incomes. But for public servants in Rivers State, it raises a familiar question: will the State Government key into the intervention and ensure that its workers benefit? The agreement provides for N70,000 monthly across all levels, for six months. The Federal Government also approved peculiar allowance arrears effective from May 1, 2026, to be paid in three equal instalments beginning in November.
The parties agreed to reconvene after one month to assess implementation. Ultimately, the value of these resolutions will be measured not by announcements but by whether eligible workers receive the money. Transport costs consume a substantial share of many civil servants’ earnings before they can meet household needs. Support for commuting is therefore not a luxury or political favour; it is temporary assistance to help workers remain at their jobs without sinking further into hardship. For lower-paid employees, transport costs can turn modest salaries into a daily exercise in difficult choices and sacrifice.
The agreement also urges State and Local Governments to participate and unions to press for implementation. The federal agreement does not automatically guarantee that every State and Local Government employee will receive the support. State authorities must clarify how it will apply to their workforce, make the necessary arrangements and publish a payment timetable. Rivers State must approach the arrangement with urgency and transparency. The Government should State whether it will implement the intervention and when payments will begin. Any administrative or financial question should be addressed promptly with organised labour, not allowed to become excuses for delay.
The concern is sharpened by the earlier N35,000 monthly wage award introduced by the Federal Government in 2023 after petrol subsidy removal. It was intended as temporary relief pending a new national minimum wage. While several States negotiated and paid wage awards or related sums, implementation nationwide was uneven. Reports in 2024 indicated that many States had failed to pay the federal award, while others provided different amounts. In Rivers, labour and media reports raised concerns about implementation of the N35,000 award for State workers, amid separate announcements and arrangements concerning Local Government employees.
The wage award was meant to ease the immediate effects of subsidy removal, yet workers faced uncertainty over whether the promised relief would reach them. In February 2024, the Rivers State Government announced approval of the N35,000 award for local government workers, but subsequent reports showed that implementation across worker categories remained a concern. The lesson is clear: approval and implementation are not the same. A declaration at a meeting offers little comfort to a worker whose account does not reflect the promised payment. For workers who travel to their offices daily, the implications of delayed support are significant. Transportation expenses compete with food, rent, school fees, healthcare and other essential household needs.
As fares rise, employees may be forced to reduce spending on necessities or borrow to sustain their families. A timely transport intervention would therefore provide practical relief and demonstrate that government understands the economic pressures confronting its workforce. Its temporary nature makes prompt implementation even more important. It is fair to acknowledge that this transport intervention is a new agreement and that its administrative details may require clarification. Rivers State should not be condemned in advance for a failure that has not occurred. Nevertheless, the earlier experience gives workers legitimate grounds to seek assurances before the November commencement date. The State should avoid allowing uncertainty to persist until workers begin asking why the promised assistance has not arrived.
The NLC and unions in Rivers State should engage the State Government immediately and seek a written commitment, an implementation plan and a process for reporting missed payments. If clarification from the Federal Government is needed, the State should seek it without abandoning the goal of providing relief. Labour leaders must also keep members informed about progress and insist that any agreed arrangements are applied fairly and transparently. The Rivers State Government should treat this intervention as an opportunity to rebuild confidence. Timely support would show that workers’ welfare is more than a talking point and that the State recognises the economic realities confronting its employees.
Silence, delay or selective implementation, by contrast, would revive frustration over earlier relief measures and weaken trust between government and labour. Every month lost to administrative delay leaves workers facing the same transport burden without the intended assistance. The State should consult labour, publish arrangements and pay eligible workers on time. Rivers workers should not have to wonder whether federal relief will reach them. The Federal Government has announced the support; now the State must make its position clear. We hope the N70,000 monthly transport intervention will not follow the troubling path of the earlier wage award. Rivers State should learn from that experience and ensure that this time, relief is not merely promised but delivered.
Sylvia ThankGod-Amadi
Opinion
Ancestorial Worship: My Take (1)
Everyday, Christians call on Abraham, Isaac and Jacob as they pray to God in the privacy of their homes across our multicultural, multiracial and multiethnic world. On Sundays and almost everyday of the week in the new-found full freaking fanaticism in Pentecostalism, they gather in the more than four million churches or congregations in the world to worship God, invoking the spirits of the ancestors of Jews. Meanwhile, in the scaremongering antics of institutional religion, the African has allowed himself to be hoodwinked into believing that invoking the spirit of his ancestors in prayers is idolatry and patently evil. He is mind-controlled into believing that indulgence in what the Christian clergy calls ”Satanic Act” is a sure ticket to Hell, where the individual is tormented, burnt and charred till eternity on the orders of a loving Father; what a laughable irony.
Come with me on my experience of what the Christian clergy contemptuously calls ancestorial worship. One Monday in September 1988, I drove from Port Harcourt to Owerri, accompanied by Chief AM Abasi who was the general manager of Delta Holdings Ltd, a company owned by Chief Ranami Abah, (Abadifeni III). Our mission was a meeting with Mr. Nwaorgu, the marketing manager of 33 Breweries Ltd for a dealership for Mrs. Alice Abah, whose husband, Chief Ranami Abah, had substantial equity shareholding in 33 Breweries Ltd. At the end of the meeting, we agreed to return on Wednesday with Mrs Alice to sign a contract for the dealership. When Chief Abasi and I stepped out to the parking lot, it hit me that I could not recollect how I drove from Port Harcourt through Igwuruta, Isiokpo and Elele to Owerri.
First, I waved the feeling off, ascribing it to the aerodynamic and slippery nature of the super slick German machine, a Mercedes-Benz 280 SLC convertible owned by Chief Ranami Abah. But on a second thought, I sensed a premonition; an ominous feeling. Then a sense of foreboding hit me, leaving me with the chilly feeling that something wrong was in the air. For a person who does not know fear as a result of having had out-of-body experience (OBE) in 1975 and considering the threshold of death the most beautiful experience in my life, it was a very worrisome feeling, to say the least. I quickly shook those thoughts out of my head, engaged the gear of the ever-ready German machine and zapped through Owerri traffic, attracting the same attention that trailed us all the way from Port Harcourt.
At Control Post, an inner voice instructed me not to return to Port Harcourt through the route we came. In reflexive obedience to the mysterious inaudible voice, I turned right (northwards) and stepped heavily on the gas. The straight six-cylinder engine roared in dutiful obedience; the automatic transmission immediately dropped into a lower gear, thereby giving the engine a very powerful pull that enabled the small-bodied car to dust every other vehicle on the road. Through the rear view mirror, I saw the vehicles we overtook recede speedily and virtually disappear behind us. In almost a whisper, Chief Abasi asked if I wanted to visit the 33 Brewery factory at Awo Omamma; I said ”no” without explaining the movement in the opposite direction of our journey.
Strangely, Chief Abasi did not pry further. We raced on, northwards; in thunderous silence. At Ogbaku junction, I turned left, drove westwards past Ejemekwuru and Izombe, turned left at Oguta and headed southwards on the Oguta Lake–Egbema–Omoku–Ahoada Federal Road. Carefully navigating the potholes that generously punctuated the road vis-a-vis the very low clearing of the car, I entered Egbema territory at Opuoma, drove through Mmahu, Abacheke, Okwuzi and turned eastwards to Mgbede, my home town. There, I quickly introduced Chief Abasi to my parents, left him with them and briskly walked a few metre to the grave of Osai, my grandfather. At the graveside, I solemnly told Osai that I sense something wrong in the air.
Then, in furious rage, I threatened him and my uncle, Lazarus, who lay beside him, that if they remained sleepy-eyed in that dimension and I am forced out of this world, that I will scatter their ribcage with penknife. My cousin and age mate, Luke Ofere, came out of his house and asked what was wrong and why I was in tears. With hot tears running down my cheeks, I turned around and left the graveside without a word to him; shock, surprise and confusion were boldly written on his face. On my way back to my father’s house, Nze Romanus Ogboh caught up with my brisk strides and, viciously pulling his right ear, he warned me to be careful on the road; that he dreamt that I died in a motor accident but that he administered a potion on me and I came back alive.
He was completely confused when I replied ”I know” and continued walking in tears towards my father’s house without a further word. Still in the holy rage, I called out Chief Abasi to join me in the car. Back to Port Harcourt through Omoku, Ahoada, Elele Alimini and Emohua, I told my spouse that something wrong is certainly around the corner. As we planned, Chief Abasi travelled to Calabar on Tuesday to inform Auntie Alice of the development and request her to come to Port Harcourt on Wednesday for onward journey to Owerri to effect the dealership contract. On Wednesday, I waited for them but they did not show up. I called Chief Abah and complained about the development. Thursday morning, they pulled up in front of my apartment in a blue Peugeot 504.
To be continued in our next edition.
Jason Osai
Osai lectures in Rivers State University.
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