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N50bn FAAC Shortfall: We Declined Govs’ Request To Borrow From CBN, FG Claims

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Controversy over claims by Edo State Governor, Godwin Obaseki, that the Federal Government printed N60billion to augment March allocation from the Federation Account, took a different dimension, yesterday, as the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, revealed that governors actually wanted to borrow money from the Central Bank of Nigeria (CBN), for the shortfall, saying that the government turned down the request.

Obaseki had said two weeks ago that, ”When we got FAAC for March, the Federal Government printed additional N50-N60billion to top-up for us to share.

“This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16trillion.”

This claim has generated much controversy in the polity, with the Federal Government insisting that the governor lied in his claim.

The Governor of CBN, Godwin Emefiele, had also dismissed Obaseki’s claim, describing it as “unfortunate and totally inappropriate.”

The development also pitted governors of ruling All Progressives Congress (APC), against their Peoples Democratic Party (PDP), counterparts, weekend, with governors on both sides of the divide defending their own.

But speaking on the issue in a Nigerian Television Authority (NTA), breakfast programme, Good Morning Nigeria, yesterday, the minister said the Federal Government turned down a request by state governors to borrow from the Central Bank of Nigeria (CBN), to augment the N50billion Federation Account Allocation Committee (FAAC), shortfall in March.

Ahmed said that whenever there was reduction in federal allocation, the Federal Government took money from some reserve accounts, but noted that in the case of March allocation which fell by N50billion, all state governments were asked to manage their resources.

She said,  “It is a difficult time, I can explain to you how difficult it is not just for the Federal Government but also for the state; we see increasing reduction in our FAAC revenue.

“In the month of March, we had a shortfall at FAAC that is almost about N50billion and we did not have enough accrual in any of those accounts. The states, to be honest, wanted us to borrow from the Central Bank but we resisted, we just told everybody to go back to live within what they had.

“So, it was very surprising for us when we heard a sitting governor saying that CBN has printed money for FAAC. That was very unfortunate because it is not true.

“As a nation, the federal, state and local governments must review expenditure patterns. We are spending too much and we are not generating enough.”

Ahmed noted that Nigeria emerged from its second recession in four years in the fourth quarter, but lamented that revenues remained subdued as a fall in crude prices curbed the main source of income for the nation.

The minister said government’s aim was to triple its revenue ratio to 15 per cent of gross domestic product.

“After revenue collapsed during the last oil shock of 2015, Nigeria turned to the Central Bank, borrowing about a third of its debt to cover a budget deficit that tripled during that time,” Ahmed had said, adding that the government would limit deficit monetization and convert those loans into long-term notes.

Meanwhile, as controversy over the alleged printing of N60billion rages, the Nigeria Governors Forum (NGF), yesterday, said that its silence on the matter was deliberate.

The Chairman of NGF and Governor of Ekiti State, Dr Kayode Fayemi, stated this, yesterday, while fielding questions from State House correspondents after a meeting with Chief of Staff to the President, Prof Ibrahim Gambari, in Abuja.

Fayemi was flanked by the Chairman of the Peoples Democratic Party, Governors Forum and Vice Chairman of NGF, as well as Governor of Sokoto State, Hon. Aminu Tambuwal; Chairman of the Progressive Governors’ Forum and Governor of Kebbi State, Atiku Bagudu; Chairman of the Northern Governors Forum and Governor of Plateau State, Hon. Simon Lalong; as well as the chairman of the Conference of Speakers.

When Tambuwal was asked to comment on the position of the PDP Governors Forum over the attack on the Edo State Governor, Mr. Godwin Obaseki, for saying the CBN printed N60billion to be shared at FAAC, Fayemi interjected, saying he could as well answer the question as chairman of NGF on behalf of Tambuwal, who is the vice chairman.

He said, “He (Tambuwal) is not here as chairman of PDP Governors Forum, I can even talk on behalf of him here, he is here as my vice chairman, and have you heard any statement from the NGF on this?”

Asked why the NGF decided not to issue any statement on the matter, he said, “It is because this is not an issue that requires a statement from the governors; the minister of finance has dealt with it, the issue is out there for you to deal with.”

 

 

 

 

 

 

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Monarch Hails Fubara Over Road Project

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Ogene of Asa Asi Asaga Community in Ogba/Egbema/Ndoni Local Government Area of Rivers State, Eze Andrew Enemuwa, has expressed gratitude to the Governor of the State, Sir Siminalayi Fubara for the award of the contract for construction of Igiri- Ubimini-Egbeda-Elele road project.
Eze Enemuwa said the people of the local government are proud associating with a visionary leader like Governor Fubara whose interest in the development of his people knows no bounds.
The monarch, also the Secretary of Ogba Traditional Rulers and Chiefs Council said the unprecedented crowd of ONELGA people that attended the event shows that Governor Fubara is greatly loved and cherished by the people.
The Eze Dike Di Nu Obi of Ogbaland said the presence of the traditional rulers at the event speaks volumes.
The Okene Asa Kaka urged the people of the area to support Governor Fubara to attract more development to the local government area.

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1,680 Children Abducted In Nigeria -UNICEF

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As Nigeria marks 10 years anniversary of the abduction of the Chibok girls, the United Nations Children Fund( UNICEF) has  put the number of abducted children at different schools within the last 10 years in Nigeria at 1,680.
The organisation said this at an event it organised in conjunction with the Faculty of Media and Communications Studies in the University of Port Harcourt to mark the 10 years anniversary of Chibok girls abductions.
According to UNICEF release read by Communication officer, UNICEF Nigeria Dr Mrs Ijeoma Onuoha Ogwe, 180 children were killed within the period under review due to attacks on schools, while an estimated 60 school Staff were kidnapped,14 killed and more than 70 attacks on schools.
It urged the Nigerian Government and security agencies to intensify effort towards the rescue of the 90 remaining Chibok girls.
UNICEF described the Chibok girls saga as a wakeup call to the severe risks children face in their pursuit of education
‘Today, reflecting on this tragedy and other recent abductions, it is evident that our efforts to safeguard our children’s future must be amplified
“Given this alarming statistics, we must address not only the symptoms but also the root causes of this crisis,” it said.
UNICEF also said that the threat of abduction of students is severely affecting children’s learning.
“As at 2021, over one million children were afraid to return to school and in 2020, around 11,500 schools were closed due to attacks”, it said.
It called on the government and the international community to ensure that all schools have the resources and tools to fully implement the minimum standards for safe schools, focus on the most vulnerable regions and address critical gaps in safe schools infrastructure.
UNICEF also called for preparedness for natural disasters, conflicts and comprehensive approaches to violence against children.
Others include, strengthening law enforcement and security measures to protect educational institutions and communities from attacks and abduction, prioritising education and child protection in national policies and budget allocations to create a safer, more inclusive environment for all Nigerian children and ensure the continuity of education and learning when schools are shut through multiple learning pathways such as radio and TV programme and through digital platforms the Nigerian learning Passport.
Ogwe said UNICEF is working with the Nigerian Government to ensure that every child can access safe learning environment.
“The agency has supported the inauguration of state safe school steering committees and the drafting of state costed implementation plans for safe schools in 13 States.
“It also provides school grants, safety kits training and awareness raising to accelerate the implementation of the minimum standards for safe schools.
“As we remember the Chibok girls and all children whose rights to education have been compromised, let this somber anniversary serves as a catalyst for change”, UNICEF said.
Speaking with The Tide, Dr Nwachukwu Ginikanwa said the anniversary should serve as a wakeup call to the authorities to take the issue of security seriously.

John Bibor

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Fubara Has Rekindled Rivers Hope-Former Envoy

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As the one year anniversary of the Governor Siminalayi Fubara administration in Rivers State draws closer, a former Chairman of Eleme Local Government Council, Amb.Oji Ngofa, says the Governor has rekindled the hope of Rivers people.
Amb. Ngofa said within the one year of the administration, the Governor has shown a sense of connecting the people and the government unlike the immediate past administration led by Chief Nyesom Wike.
The former Deputy National Secretary of the All Progressives Congress ( APC) explained that within one year, Rivers people are seeing a visionary leadership whose imagination is essentially focused on the desire to improve the lives of the people, with the sole aim of creating an economy where everyone can participate.
Speaking in an interview in Port Harcourt, the forrmer Ambassador said Governor Fubara has been able to engage relevant stakeholders and sectors of the State which, according to him, remains the hallmark of leadership.
He emphasised that with Governor Fubara, no doubt, Rivers State is in safe hands, saying with Governor Fubara, there is the likelihood that the State would be greater than other States.
He noted that the Governor’s vision to develop and give capacity to the people in order to participate in the economy as well as creating the enabling environment for business to flourish in the State, coupled with his peaceful nature, have all combined to endear him to the people.
Amb Ngofa said real power comes from how well one is connected with the people through good leadership, and the people on their own voluntarily surrender to you just as Governor Fubara has demonstrated within the past one year, stressing that that has informed his decision as an astute politician just like all well-meaning Rivers people to align with the Governor in order to move the State forward .
He described Governor Fubara’s milestones in infrastructure, human capital development, health and agriculture as monumental.
Amb Ngofa urged the Governor to ensure his revitalisa- tion programme on Songhai Farms extends to Buguma and Andoni fish farms and Rivers State Sustainable Development Agency (RSSDA), and expand on the initiative, as it is critical in job creation for the teeming youths of the State.
“ In his one year in office as governor, Rivers people have seen the difference in terms of governance and total departure from self. Now Rivers people are having easy access to their governor. His focus is on policies and programmes that are capable of revitalising the economy aimed at improving the wellbeing of Rivers people, not just one man. Projects are springing up in all parts of the State, not necessarily in Port Harcourt and Obio,/ Akpor. All in just one year despite the distractions”, he said.

The Port Harcourt ring road loan to small skill medium businesses are one of the biggest achievements of his administration
Aleto- Woji road abandoned by the last administration had been carried on by a government that has interest of the people at heart
Despite the destruction ,he had demonstrated sense of focus on his primary duties as a governor
We are not just seeing monumental projects ,Rivers people are seeing total commitment to create an economy that will enable Rivers people to have a hold on there lives especially with projects like revitalizing Shonghai ,plaintain farms .
It is critical focusing on human capital development .I am aware of his programme of revitalising the economy ,state owned industries through public private partnership
Rivers people hope had been rekindled and those of us who are critic to the governor Wike led administration had been vindicated
Urging Eleme people to support the administration of governor Fubara to achieve their common dream which is development.

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