Connect with us

Politics

Presidency Lists Beneficiaries Of External Borrowing Plan

Published

on

The Presidency has said that a total of 15 projects, spread across the six geo-political zones of the country, are to be financed with more than $4 billion from multilateral institutions, under the 2018-2021 medium-term (rolling) external borrowing plan.
President Muhammadu Buhari had requested the Senate to approve sovereign loans of $4.054 billion and €710 million as well as grant components of $125 million for the proposed projects.
According to the letter by the President, the sovereign loans will be sourced from the World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE).
The President’s request to the Senate listed 15 proposed pipeline projects, the objectives, the implementation period, benefiting States, as well as the implementing Ministries, Departments and Agencies (MDAs).
A statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu said a breakdown of the ‘‘Addendum to the Proposed Pipeline Projects for the 2018-2021 Medium Term (rolling) External Borrowing Plan,’’ shows that the World Bank is expected to finance seven projects including the $125 million grant for ‘‘Better Education Services Delivery for All’’.
According to the statement, the Global Partnership for Education grant is expected to increase equitable access for out-of-school children and improve literacy in focus states.
It further stated that the grant, which will be implemented by the Federal Ministry of Education and the Universal Basic Education Commission (UBEC), will strengthen accountability for results in basic Education in Katsina, Oyo and Adamawa States.
Other projects to be financed by the World Bank are, the State Fiscal, Transparency, Accountability and Sustainability Programme for Results as well as the Agro-Processing, Productivity, Enhancement and Livelihood Improvement Support Project.
The statement said, “The benefiting States for the agro-processing project are, Kogi, Kaduna, Kano, Cross River, Enugu and Lagos with the Federal Ministry of Agriculture and Rural Development as the implementing ministry.
“The objective of the project is to enhance agricultural productivity of small and medium scale farmers and improve value addition along priority value chains in the participating states.
“Similarly, the World Bank is also financing the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo and Plateau States, for the next five years.
“The project, when completed, is expected to improve rural water supply, sanitation and hygiene nationwide towards achieving Sustainable Development Goals (SDGs) for water supply and sanitation by 2030.
“Under the external borrowing plan, the World Bank-supported projects also include Nigeria’s Covid-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and Nigeria Centre for Disease Control (NCDC).
“The project, which has an implementation period of 5 years, will respond to threats posed by Covid-19 through the procurement of vaccines.
“Furthermore, no fewer than 29 states are listed as beneficiaries of the Agro-Climatic Resilience in Arid Zone Landscape project, which is expected to reduce natural resource management conflicts in dry and semi-arid ecosystems in Nigeria.
“The benefiting states for the project to be co-financed by World Bank and European Investment Bank (EIB) are Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, Gombe, Imo, Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.”
Continuing, it said, “The World Bank is also funding the Livestock Productivity and Resilience project in no fewer than 19 states and the federal capital territory (FCT).
“The China EXIM Bank is expected to finance the construction of the branch line of Apapa-Tin Can Island Port, under the Lagos-Ibadan Railway modernisation project.
“The French Development Agency will finance two projects, which include the National Digital Identity Management project and the Kaduna Bus Rapid Transport Project.
“The digital identity project will be co- financed with World Bank and EIB.
“The Value Chain Development Programme to be financed by IFAD and implemented in Anambra, Benue, Ebonyi, Niger, Ogun, Taraba, Nasarawa, Enugu and Kogi States will empower 100,000 farmers, including over 6,000 and 3,000 processors and traders respectively.
“The loan facility to be provided by European ECA/KfW/IPEX/APC will be spent on the construction of the Standard Gauge Rail (SGR) linking Nigeria with the Niger Republic from Kano-Katsina-Daura-Jibiya-Maradi with a branch to Dutse.
“The specific project title, Kano-Maradi SGR with a branch to Dutse, has an implementation period of 30 months and will be implemented by the Federal Ministry of Transport.
“The Chinese African Development Fund through the Bank of China is expected to provide a loan facility of $325 million for the establishment of three power and renewable energy projects including solar cells production facility Phase 1 & II , electric power transformer production, Plants 1, II, III and high voltage testing laboratory.

Continue Reading

Politics

Reps Constitution Review Committee Holds Zonal Hearing For Rivers, C’River, Akwa Ibom In Calabar

Published

on

In a renewed effort to deepen Nigeria’s constitutional democracy, the House of Representatives Committee on the Review of the 1999 Constitution has announced the commencement of its Zonal and National Public Hearings across the country.

A press statement issued by the Chief Press Secretary to the Cross River State Governor, Mr Linus Obogo, disclosed that the Calabar Centre — designated as Centre B — will host representatives and stakeholders from Cross River, Rivers, and Akwa Ibom States.

The public hearing is scheduled to take place on Saturday, July 19, 2025, at 10:00 a.m. at the Transcorp (Metropolitan) Hotel, Calabar.

The initiative, according to the statement, is designed to promote inclusive dialogue and capture the aspirations of Nigerians from all regions.

It aims to serve as a platform for citizens to contribute meaningfully to the ongoing national efforts to refine and strengthen the country’s legal and institutional frameworks.

“Citizens, civil society groups, professional bodies, traditional rulers, and other interest blocs are invited to participate in this landmark engagement aimed at advancing a more just, equitable, and responsive Nigerian Constitution,” the statement read.

The hearing forms part of the broader review process of the 1999 Constitution (as amended), and is seen as a strategic move toward fostering national unity and addressing structural legal issues within the federation.

 

Continue Reading

Politics

Tinubu’s Contribution To Buhari’s Presidency Marginal – Ex-SGF

Published

on

Former Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, has stirred fresh political controversy by dismissing claims that President Bola Tinubu was highly instrumental to former President Muhammadu Buhari’s emergence in 2015 after the merger of political parties that formed the All Progressives Congress (APC).

For the first time since 2022, when then-presidential aspirant Alhaji Bola Tinubu declared he made former President Buhari Nigeria’s President in 2015, Mr Mustapha dismissed the claims, stressing that the merger only contributed about three million votes in addition to Buhari’s existing 12 million votes in the North.

He insisted that former President Buhari’s integrity, national stature, and disciplined messaging were central to the breakthrough, not the three million votes from the merging parties, which he described as insignificant.

Speaking on the role of the merging parties, particularly President Tinubu, the leader of the Action Congress of Nigeria (ACN), Mr Mustapha, who was the keynote speaker at the launch of the book ‘According to the President: Lessons from a Presidential Spokesman’s Experience’ authored by Mallam Garba Shehu, described the impact of the votes from other merging parties as very insignificant.

In attendance were former Head of State Yakubu Gowon, chair of the event; immediate past Vice President Yemi Osinbajo; SGF George Akume, who represented President Tinubu; PDP’s 2023 presidential candidate Atiku Abubakar; former Chief of Staff to Buhari Ibrahim Gambari; elder statesman Babagana Kingibe; former governors Nasir El-Rufai (Kaduna), Kayode Fayemi (Ekiti), Chris Ngige (Anambra), Rauf Aregbesola (Osun), Raji Babatunde Fashola (Lagos); former ministers Solomon Dalung and Sunday Dare; former Army Chief Tukur Buratai, and Bayo Onanuga, President Tinubu’s spokesman, among others.

According to Mr Mustapha, “I do not intend to stir up any controversy. The merger in 2013 was midwifed to create a Buhari presidency. Let us look at the statistics. In the 2003 election, it was the Obasanjo-Buhari presidential contest where Buhari recorded 12.7 million votes. In 2007, it came to 6.6 million, and it went back to 12.2 million in 2011.

“When we were conceptualising the merger, what would give us a headstart? Obviously, it was at the back of our consciousness that the merger with the Congress for Progressive Change (CPC), though it had only one state, the ACN had six states, ANPP three states, and when you sum up the total votes that we had as the presidency in 2015, the aggregate of the total votes was 15.4 million.

“So, basically, what we brought to the table after the merger outside the Buhari 12.5 million votes was three million. Before turning to that presidency, it is important to recognise the former President’s role in reshaping Nigeria’s political trajectory.

“In early 2013, as the leader of the CPC, Buhari formally requested and supported the creation of a CPC merger committee, part of a broader coalition-building process that brought together the ACN, ANPP, APGA faction, and elements of the ruling party through the breakaway ‘new PDP’ group. His endorsement and participation, along with other party leaders such as President Tinubu and Senator Ali Modu Sheriff, lent credibility and direction to the merger, helping to unify disparate party factions under the banner of the APC. That coalition-building paved the way for the first democratic defeat of an incumbent ruling party in Nigeria’s history.

“President Buhari’s integrity, national stature, and disciplined messaging were central to that breakthrough. No account of President Buhari’s tenure would be complete without acknowledging the extended periods he spent on medical leave. These moments, while politically delicate, were also telling of his leadership philosophy and personality,” he said.

In his remarks, President Tinubu promised to build on the legacies of former President Buhari, stressing that “nation-building is a relay. The efforts of one administration lay the foundation for the next.

“In this regard, I acknowledge the efforts of my predecessor, President Buhari, and assure all Nigerians that the reform-oriented path he initiated will be consolidated and strengthened under this administration. Our Renewed Hope Agenda is inspired by the desire to build a resilient, just, and inclusive Nigeria—a nation that delivers dividends of democracy to all its citizens”.

Continue Reading

Politics

Your Lies Chasing Investors From Nigeria, Omokri Slams Obi

Published

on

Former Presidential aide, Mr Reno Omokri, has accused Labour Party’s 2023 presidential candidate, Mr Peter Obi, of spreading false information about Nigeria’s debt profile, claiming it is deterring foreign investors from the country.

Speaking during an appearance on live television on Wednesday, Mr Omokri alleged that Mr Obi’s statements were misleading and damaging to the country’s economic prospects.

Mr Omokri said some investors currently operating in Nigeria were considering exiting the market due to Mr Obi’s remarks.

“That is not true. He doesn’t rile me up. I rile him up. The reason why I came here is because I’m a patriot. Peter Obi lied. You know, foreign direct investors are watching your programme, who are making investment decisions not to come to Nigeria. There are foreign investors in Nigeria that are making investment decisions to leave Nigeria because of the lie he told.

“One of the lies he told is that President Tinubu has borrowed more than the administrations of Yar’Adua, Jonathan, Buhari. That is a blatant lie”, Mr Omokri said.

To buttress his claims, Mr Omokri referenced figures from the Debt Management Office (DMO), maintaining that President Tinubu had actually reduced Nigeria’s external debt burden since assuming office.

“I have here with me data from the Debt Management Office, and Nigerians who are watching can go to DMO.com and search Debt Management Office, Nigeria State of Indebtedness 2015.

“As of 2015, Nigeria was owing a total of $63 billion. When Buhari was leaving office, Nigeria was owing $113 billion. Today, from the DMO, our debt has gone from $113 billion to $97 billion, meaning that Tinubu has reduced our debt by over $14 billion.

“We should be appreciating this man. Yet Peter Obi came here and lied to the Nigerian people. He took the debts and translated them into naira to make it look like the debts have increased”, he said.

 

Continue Reading

Trending