News
N10.6trn:FG Fires Back At Ezekwesili
The Federal Government, yesterday, reacted angrily to
comments by the former Minister of Education, Dr. Obiageli Ezekwesili alleging
that the governments of Presidents Musa Yar’Adua and Goodluck Jonathan,
squandered $67 billion(about N10.6trn) in foreign reserves, describing the
allegation as “outlandish and clearly fictitious.”
Minister of Information, Mr Labaran Maku who addressed a
press conference on the allegations by the former Vice President of African
Region of the World Bank said the damning verdict passed on the education
sector by Mrs Ezekwesili was a self indictment, as she presided over the sector
without bringing any positive impact on it.
The Information Minister who was flanked by the Senior
Special Assistant on Public Affairs, Dr. Doyin Okupe; Economic Adviser, Prof.
Nwanze Okedegbo and Special Adviser on Performance Monitoring, Prof. Sylvester
Monye; said the allegations of Ezekwesili were curious in the light of the fact
that she had been part of governance in the past.
According to Mr Maku, Ezekwesili’s criticism of the
education sector amounts to hypocrisy as she was part of the sector and
contributed to its sorry state, because , despite receiving N458.1billion
between 2006 and 2007 for the sector, there is nothing to show for it, in terms
of achievements.
The Minister said, “If she says education has not worked it
means she is saying she did not work”.
He accused the former Education minister of betraying a
surprisingly limited understanding of government finances in her comments at
Nsukka.
Information Minister, Mr. Labaran Maku flanked by the Senior
Special Assistant on Public Affairs to the President, Dr. Doyin Okupe and the
Special Adviser to the President, Projects Monitoring and Evaluation, Prof.
Sylvester Monye during the briefing on the nation’s external reserves at the
National Press Centre, Radio House, Abuja.
He noted: “These statements are even more curious in light
of the fact that she has held senior positions in government, and more
recently, a position as a Vice President of the World Bank. However, rather
than speculate about her motives, we would focus on the facts.
“The statement by the former World Bank Vice President that
the governments of Presidents Musa Yar’adua and Goodluck Jonathan have
squandered $67 billion in reserves (including $45 billion in external reserves
and $22 billion in the Excess Crude Account) left by the Obasanjo
Administration at the end of May 2007 is factually incorrect. At the end of May
2007, Nigeria’s gross reserves stood at $43.13 billion – comprising the CBN’s
external reserves of $31.5 billion, $9.43 billion in the Excess Crude Account,
and $2.18 billion in the Federal Government’s savings. These figures can be
independently verified from the CBN’s records. The figure of $67 billion
alleged in her statement is therefore clearly fictitious.
“However, since President Obasanjo left office, the reserves
have experienced fluctuations, rising from $43.13 billion in May 2007, peaking
at $62 billion in September 2008 during the Yar’adua/Jonathan Administration
when oil prices peaked at $147 per barrel, and falling subsequently to a low of
$31.7 in September 2011. This fall in reserves was a result of the vicissitudes
of the global financial crisis which caused CBN interventions in the currency
market to defend the value of the naira. The Excess Crude savings, a component
of the reserves, was also used to stimulate the economy at the height of the
global financial crisis to the tune of about $1 billion (or 0.5 percent of our
2009 GDP). As a result, Nigeria is one of the few countries in the world that
did not seek assistance from international financial institutions.
He said it should be noted that the fiscal stimulus used to
shore up the economy during that period was shared by all 3-tiers of
government, including commitments of about $5.5 billion made under the Obasanjo
Administration for power projects, he added.
She urged Nigerians, especially the youths, to take their
destiny in their hands by creating a new political context in which citizens
demand for good governance and accountability by compelling their leaders to be
accountable and transparent in the management of the commonwealth of Nigeria.
According to her, ‘endowment of oil resulted in an indulgent
elite class who have made disastrous choices that have trapped the destiny of
Nigeria in oil wells.
The former World Bank Vice President attributed the economic
stagnation in the country for over fifty years to such indulgence on the part
of the emerging ruling class.
‘The fact is that our political elite suffers from delusion
of greatness simply because we sell barrel of crude oil to finance 80% of our
national budget while over 95% of our foreign exchange ad petroleum sector
earning represents a larger portion of industry’s contribution to GDP”, she
lamented.
‘I have known, at least, five cycles of commodity booms that
offered us rare opportunities to use revenues generated from oil to transform
our economy. Sadly, each cycle ended up sliding us farther down the productive
ladder. The present cycle of boom of the 2010s is, however, much more vexing
that the other four that happened in the 70s, 80s 90s and 2000s, she added.
She challenged Nigerian university graduates and
undergraduates to mobilise themselves and work towards pushing public office
holders to prudently manage our national wealth and provide good stewardship
and leadership to the people.
It would be recalled that
the former World Bank Vice President, Dr Obiageli Ezekwesili had last Saturday
lashed out at successive federal government since 2007, accusing them of
squandering over $67billion oil windfall.
News
State House Spent N22bn On Overhead
The State House management yesterday disclosed that its overhead expenditure amounted to N22.62billion, spread across seven cost centres.
These include the State House Headquarters, State House Operations (President), State House Operations (Vice President), Office of the Chief of Staff, Office of the Chief Security Officer to the President, State House Medical Centre, and Lagos Liaison Office.
The Permanent Secretary of the State House, Olufunso Adebiyi, revealed this during an oversight visit by the House of Representatives Committee on Special Duties to the data centre located in the Presidential Villa, Abuja.
The State House Director of Information and Public Relations, Mr Abiodun Oladunjoye, announced this in a statement issued yesterday titled ‘State House to Achieve Full Digitisation by November 2024, Says Permanent Secretary, as Reps Tour Data Centre.’
During his presentation on the 2023/2024 budget implementation, the Permanent Secretary highlighted that the State House had achieved 43 per cent implementation of capital projects for 2024 and an impressive 99 per cent implementation in overhead expenditure.
“Out of this appropriated amount, so far, as of 31 August 2024, a total sum of N15.08bn has been released to us; and of the said released amount, a total of N14.9bn has so far been expended during the fiscal year, leaving an outstanding balance of N14.5bn. This represents an encouraging performance of 99 per cent,” he said.
On capital expenditure, Adebiyi noted that N51.3bn was appropriated for 2024, with N22bn spent, leaving a balance of N29.3bn, representing 43 per cent implementation.
The Permanent Secretary commended the Committee members for approving an increased budget allocation to the State House in the 2024 appropriation, particularly given the considerable demand from various cost centres during the challenging fiscal year.
“This has gone a long way in enhancing our performance as an important arm of government, especially with regards to the welfare of staff and various capital projects, such as the renovation of the residential quarters of the President, Aguda House, computerisation and digitalisation of the State House, construction of an office complex, replacement of operational vehicles, and others,” he said.
The chief accounting officer further presented the 2023 budget and supplementary budget performances.
He disclosed that N1.65bn was approved for personnel costs in 2023, of which N1.65bn was spent, leaving a balance of N439,433.66.
For overhead expenditure in 2023, N8.29bn was appropriated, and N8.27bn was expended, leaving an outstanding balance of N14.5m, marking a 99.82 per cent budget implementation.
Regarding total capital expenditure for 2023, the Permanent Secretary said N11.2bn was approved, with N10.9bn spent, representing an overall performance of 98 per cent.
Adebiyi also mentioned that the State House is set to achieve full digitisation of its operations by November 2024.
According to him, the completion of the computerisation and digitisation process would enhance efficiency, security, and the seamless operation of critical administrative functions at the State House.
The visit, led by the Chairman of the House Committee on Special Duties, Hon. Kabir Tukura, was part of the legislators’ statutory oversight to assess the performance of the 2023 and 2024 budgets of the State House.
Adebiyi also briefed the lawmakers on the ongoing renovations at Dodan Barracks, Lagos, the former seat of government.
He noted that the renovations are expected to be completed before the end of the year.
Adebiyi invited the legislators for an on-the-spot assessment of the barracks, with funds for the project and others at the Lagos Liaison Office sourced from the 2023 supplementary budget and the 2024 budget respectively.
In his remarks, Tukura expressed satisfaction with the ongoing digital transformation and commended the State House for its commitment to budgetary discipline and modernising government services.
“The 2024 budget is still ongoing, and I would say, so far, so good. The releases have been made and utilised by almost 98 per cent, and that is quite commendable.
“There are no gaps. The 2023 budget has been completed. Members have asked questions, and we have heard the responses from the Permanent Secretary. We are convinced they are doing well,” he said.
News
Fubara Inaugurates Judicial Commission On Killings, Blasts In Rivers …Charges 7-Man Panel To Be Resolute, Just
Rivers State Governor, Sir Siminalayi Fubara, has inaugurated a Judicial Commission of Inquiry to investigate the arson, killings, and destruction of property at various Local Government Council Headquarters in the State.
Governor Fubara inaugurated the seven-member commission at the Executive Chambers of Government House in Port Harcourt yesterday.
The commission that has one month to conclude its assignment, has Hon. Justice Ibiwengi Roseline Minakiri as Chairman; Mrs. Inyingi Brown as the Secretary; and Barrister Uzor Ikenga as the Counsel.
Other members are Barrister Felicia Nwoke; Prof. Blessing Didia; Sir Samuel Egbe; and Venerable Alex Usifor.
The Governor said the recent attacks and burning of Local Government Councils’ Secretariats on the 7th October, 2024, seemed like a repeat of what was experienced in 2014, months to the General Elections of 2015 when courts were set ablaze, residences bombed and people killed, leading to the closure of courts in Rivers State.
Governor Fubara said his administration will not look away while ill-guided youths and sponsored political thugs turn the State into a theatre of violence without being made to pay for such crimes against the State.
He said, “So, I have decided to take this action to find out the immediate and remote causes of this arson, most importantly, no matter the personalities involved, we must bring them to book.
“So, this assignment is a very important. It is an assignment that, if it is not done rightly, would give the enemies of this State opportunity to continue.
“And if we are right, it is going to be the end of further destruction of public property in the State. I know it is going to be very tasking. I can assure you that there will be threats, but you have to be strong,” he advised.
Governor Fubara stated that it is long overdue to inaugurate the commission of inquiry owing to incidences that have been witnessed since his administration came on board.
He explained that sometime in the past, about October, 2023, a similar incidence was experienced, and because he had thought that everybody was of the same political family, he decided to let go.
He added that the persistence of the violence and differences between people who once had worked together have seemingly destroyed chances of settling any misgivings internally.
Governor Fubara emphasised: “It has become very clear that rather than getting close to the path of peace, this State is gradually turning into a kingdom where law and order is no longer the order of the day. And we cannot fold our hands and allow such thing to happen.
“On the 5th of October, 2024, about four days ago, we had an election in this State. Before the election, we also heard from a lot of quarters, songs of war, (and) threats but we never took them seriously because we believed that a local government election is a prerogative of the State Government. It has nothing to do with anybody anywhere that is outside the confinement of our State.
“And for that reason, we believed strongly that whatever it is, we could manage it to produce the purpose of that election.”
Governor Fubara further said: “But, it is very unfortunate that after the election, even while the election was going on, several things happened, which we managed, thinking it was going to end there.
“The day after the election, there were also more threats from people, and we also thought it was just a normal threat, believing that it was not going to be out of hand but it did.”
Governor Fubara told members of the commission that God has not made any mistake to find them suitable for the assignment given to them.
He urged them to work with the mind of actualising the purpose of the assignment, and noted that history will not forget this responsibility given to them.
Governor Fubara outlined the terms of reference of the assignment given, saying that they must: “Determine the underlying causes of the violence and identify the individuals or groups reasonable for the attacks on some Local Government Council Headquarters and the harm caused to citizens.
“Evaluate the extent of damage to property, infrastructure, and human lives and estimate the financial losses incurred.
“Examine whether the violence was politically motivated, and if so, identify the key players and their roles in instigating the violence.
“Assess the effectiveness of the security agencies’ response to the violence and identify areas for improvement.
“Investigate the actions of individuals and groups involved in the violence in the face of the relevant laws, including the Violence Against Persons (Prohibition) Act, 2015, etc.
“Advise on adequate compensation and support for victims and their families, as well as measures to prevent future occurrences.
“Make recommendations on long-term strategies to prevent similar incidents in the future, including recommendations for policy reforms, community engagement, and conflict resolution mechanisms.
“Recommend appropriate sanctions for individuals and groups found culpable.
“Make other relevant recommendations in light of its findings which the commission may consider appropriate,” and also mandated the commission to submit its report within “one month”.
Governor Fubara said the task will not be easy on them but added that they must brace up and do what is right for the good of Rivers State.
News
Brain Drain: Senate Seeks Improved Budgetary Allocations To Universities
The Senate has called for improved budgetary allocations to universities in the 2025 budget in order to check brain drain and other challenges in the universities.
The Tide’s source reports that the senate’s decision followed adoption of a motion at plenary, yesterday.
The motion, titled “Urgent Need to address challenges of increasing cases of brain drain in the Nigerian University System.” was sponsored by Sen. Ani Anthony (APC- Ebonyi).
Ani, in his motion said over the years, there has been a significant outflow of highly educated professionals in Nigeria, especially in the academia, in quests of better working conditions.
According to him, this worsened the skill gap in the workforce and is capable of hindering economic growth and development of the country.
Ani said that the National Universities Commission (NUC) report indicated that many Nigerian universities operate with less than 50 per cent of the required academic staff.
He expressed worry that the remunerations of the Nigerian university lecturers was among the poorest in the world, and it was last reviewed over 15 years ago.
This, he said cannot meet the current economic realities of the country.
He lamented that many universities in other Western African countries have better working conditions than what was obtainable in the Nigerian university system.
“I am worried over the continuous loss of experienced faculty members from our ivory towers to other countries, is capable of impacting negatively on the quality of education.
“ This reduces the effectiveness of teaching, learning and mentorship for students in our higher institutions.
“Also worried that brain drain has assumed an unprecedented posture in recent time, due to the current economic situation of the country.”
He stressed that the brain drain syndrome in Nigeria should be a cause for concern, as it threatens survival of the nation ‘s higher education, particularly in engineering, medicine and sciences.
He said the sectors were critical for the socioeconomic development of the country.
However, the Senate in its other resolution, mandated the Committee on Tertiary Education and TETFUND to liaise with relevant government agencies and work out modalities to check the spate of brain drain, in Nigeria universities.
Senate President Godswill Akpabio in his remarks said all hands must be on deck to proffer solutions to issue of brain drain, as a matter of concern in the nation’s tertiary education.
He said that the reasons for brain drain was basically economic in nature.
He expressed believe that a review of the employment of personnel in tertiary institutions would help mitigate the brain drain issue.
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