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RSHA And Task Of Debt Management

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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

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PDP’ll Reclaim Presidency, Won’t Sink Following Defections — Mohammed

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Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, Governor Bala Mohammed of Bauchi State, has expressed confidence that despite recent defections to the ruling All Progressives Congress (APC), the opposition party will remain strong and secure victory in 2027.
Governor Mohammed, who also serves as Chairman of the PDP National Convention Publicity and Communication Subcommittee, spoke to journalists on Saturday in Abuja.

He said, although he was deeply concerned about some governors and lawmakers defecting to the APC, the party was working quietly behind the scenes to stabilise its ranks and rebuild public trust.

“If you ask me whether I’m concerned about our governors leaving for APC, I am more than concerned. But leadership is a burden. As a leader of a group of equal status, I cannot determine the decisions or inactions of my colleagues, but certainly, a lot of work is being done behind the scenes,” he said.

The Bauchi governor accused the APC-led federal government of using coercive tactics to weaken the opposition, saying the ruling party was bent on turning Nigeria into a one-party state.

“You know the style of leadership of the APC-led federal government in trying to make this country a one-party state. They have the power of coercion; they have the power of everything,” he said.

Governor Mohammed, however, maintained that the defections would not derail the PDP’s resurgence, stressing that most Nigerians at the grassroots remained loyal to the party.

“Even those who left are not finding it easier because most of the people at the grassroots level are PDP and are not happy with the defections. Sometimes it is done because of permutations and calculations. But I assure you I am not going anywhere. I am in PDP, and my state has no element of division,” he explained.

Governor Mohammed revealed that more defections could occur, including from lawmakers in his state, but insisted the PDP structure in Bauchi remained solid.

“Even today, I saw in the news that one of my senators is going. They are being controlled, they are being bought, but certainly, the state is PDP. Nigerians want change, and they believe they can get it through the PDP,” he stated.

The governor emphasised that the PDP had laid the foundation for most of Nigeria’s measurable achievements under successive governments and that the party remained the only credible platform capable of providing national renewal.

“Most of the measurable achievements by the federal government were done by PDP regimes. By the grace of God, if we stand firm, we will deliver. Some of us who won as governors were not even considered capable, and here we are. That’s what will play out in 2027,” he said.

Addressing concerns over potential threats to the forthcoming convention, the PDP stalwart said the party leadership was working to resolve internal disputes and litigations aimed at destabilising preparations.

“I cannot speak for the National Working Committee, but as a leader within the party, I know they are doing their best to address issues of litigations. Many are artificially created to undermine us, but we don’t have any faction in the PDP,” he said.

He noted that while some individuals had approached the courts to stop the party’s convention, the PDP remained more organised than most opposition parties.

“Comparatively, most of the other parties are not better off than us. We are better off than most opposition parties. We are the only ones intact; with one National Secretary, one National Chairman, and one Publicity Secretary. This meeting gives hope that at the end of the day, we will deliver,” he said.

On reports of Governor Peter Mbah’s rumoured defection from the PDP, Governor Mohammed said Governor Mbah had not formally declared any intention to leave and remained a respected colleague.

“Actually, Governor Mbah has not told us his position. It is a personal decision. We cannot remove his picture before he leaves. When he leaves, we will replace him with another person. Up till now, he has not told me he’s leaving,” he said.

He also dismissed speculation surrounding Governor Siminalayi Fubara of Rivers State, describing him as a loyal member of the PDP who had endured significant challenges in office.

“He has not left the party; he is still PDP. Everybody has his own style. He is a humble young man who has gone through so much and has done well to accommodate all the problems and challenges he found himself in,” he said.

Commenting on speculations about a possible 2027 presidential project involving former President Goodluck Jonathan, the Bauchi governor said the PDP remained open to prominent figures who wished to return or associate with the party.

“People are still interested in this party, and these big names being associated with us make us happy. As governors, we have resolved to put personal interests aside. We are united and will come up with leadership that will be the best choice for Nigerians to put in Aso Rock, inshallah,” he stated.

Governor Mohammed reaffirmed his commitment to the PDP and expressed optimism that new, visionary leaders would emerge from the party in 2027 to defeat what he called the APC’s ‘deceptive’ style of politics.

“If somebody goes, just like a bird, they go, they come. Please, don’t blame anybody at the governors’ level; we are doing our best, but it is beyond our control,” he said.

 

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Obi Insists On Faith In New Nigeria During Rome Pilgrimage

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The presidential candidate of the Labour Party (LP) in the 2023 elections, Mr Peter Obi, has urged Nigerians to remain steadfast in faith while taking active steps towards rebuilding the country.

In a statement following his recent visit to the United States and Rome, Mr Obi said he used the pilgrimage as an opportunity to seek divine intervention for Nigeria’s unity, peace, and responsible leadership.

He stated that after addressing members of the Friendship Club in the US and speaking at the 1st Ubuntu African Youth Assembly in Washington, he proceeded to Rome to join his wife for a spiritual retreat.

“With hearts full of gratitude, we thanked God that, despite our differences and the many challenges faced over 65 years of independence, He has kept us together as one nation,” Mr Obi said.

During the pilgrimage, the couple visited the four major Papal Basilicas in Rome — St. Mary Major, St. Paul Outside the Walls, St. John Lateran, and St. Peter’s Basilica — where they met with other Nigerian pilgrims.

“Along the way, we met many Nigerian pilgrims: men and women of faith whose faces shone with quiet hope. Together, we renewed our trust in God’s mercy and in the promise of a better Nigeria,” he added.

Reaffirming his faith in both divine providence and civic duty, Mr Obi maintained that prayer must be matched with personal and collective effort.

“Faith does not absolve us of responsibility; it calls us to action. We must each continue to do our part, with honesty, diligence, and love, for our nation’s healing and progress,” he said.

Mr Obi was accompanied by his wife, Margaret, during the pilgrimage, which also included an audience with His Holiness, Pope Leo XIV, at the Vatican City.

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INEC Chair: Amupitan’s Appointment About Control, Not Competence – HURIWA

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The Human Rights Writers Association of Nigeria (HURIWA) has raised concerns over President Bola Tinubu’s appointment of Professor Joash Amupitan, SAN, as the new Chairman of the Independent National Electoral Commission (INEC), alleging that the move is politically motivated and aimed at influencing the 2027 general elections.

In a statement issued in Abuja on Saturday, HURIWA said the appointment of Prof. Amupitan, a senior law scholar from Kogi State, signalled what it described as an attempt by the President to consolidate control over the nation’s electoral process.

According to the group, intelligence available to it suggested that the new INEC chair was selected not primarily for competence but for loyalty.

“From the intelligence at our disposal, this appointment is not about competence but control. The President, who is desperate to remain in power in 2027, has chosen an ally who will do his bidding. It is now left for Prof. Amupitan to prove this wrong,” the statement read.

HURIWA expressed concern that the appointment could undermine the credibility of future elections unless the Electoral Act is urgently amended to make the use of the Bimodal Voter Accreditation System (BVAS) and INEC Result Viewing portal (IReV) mandatory and enforceable by law.

The association recalled that the 2023 presidential election was marred by what it described as irregularities, while other polls, particularly the National Assembly elections, were “relatively credible” due to the effective use of electronic accreditation and result transmission.

HURIWA also linked the recent wave of defections by opposition politicians to the ruling All Progressives Congress (APC) to what it termed the “weaponisation of state institutions.”
It claimed that many officeholders were joining the APC to avoid harassment or prosecution. “We have a President using every available state institution to weaken opposition parties,” the group alleged.

The rights body further noted the appearance of campaign billboards bearing President Tinubu’s image across parts of the country as a sign of early political campaigning and warned that such actions could increase political tension ahead of the 2027 elections.

HURIWA called on the National Assembly to prioritise electoral reforms that would strengthen INEC’s independence and ensure technological transparency in future elections.

It urged Prof. Amupitan to demonstrate impartiality and accountability in his role, adding that Nigerians and the international community would be watching closely to see whether he would uphold the commission’s integrity or serve partisan interests.

 

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