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Buhari’s Govt Borrowed N12trn In Three Years -PDP …Insists Presidency Cabal, APC Desperate To Retain Power
The Peoples Democratic Party (PDP) has claimed that the President Muhammadu Buhari-led Presidency borrowed a total of N12.27 trillion within three years and without any significant development project on which the money was invested.
The main opposition party also said that the Buhari Presidency lacks the competence and integrity to run a creative, transparent and credible administration that could guarantee economic growth, wealth creation and a dependable system.
The National Publicity Secretary of the party, Mr. Kola Ologbondiyan, disclosed this in a statement issued yesterday, stressing that the All Progressives Congress (APC) is desperate to remain in power at all costs, so as to continue to exploit Nigerians, protect APC corrupt leaders, cover their incompetence and conceal the humongous sleazes in their administration.
He noted that the APC administration wants to remain in power to prevent investigation into the N14 trillion allegedly stolen under its watch; including the N9 trillion allegedly stolen from the Ministry of Petroleum Resources, as detailed in the leaked NNPC memo; the over N1.4 trillion alleged oil subsidy sleaze and the N1.1 trillion worth of crude allegedly diverted using 18 unregistered companies linked to APC interests.
The PDP said this was in addition to the N33billion National Emergency Management Agency (NEMA) fund, and the over N18 billion allegedly stolen out of the N48 billion approved by the National Assembly in the 2017 budget for the rehabilitation of IDPs in the Northeast, among others.
Ologbondiyan stated: “Furthermore, the Buhari-led APC administration is desperate to avoid an investigation into its unwholesome borrowings that led to the escalation of our nation’s debt stock from N12.12 trillion in 2015 to an overburdening N24.39 trillion in 2018.
“Within a space of three years, this administration has borrowed a total of N12.27 trillion, yet it cannot point to any significant development project into which the money was invested. This includes the N2.66 trillion borrowed in 2018, ahead of the 2019 general elections.
“These and many more are funds meant for infrastructural development and welfare of Nigerians but have been cornered by APC leaders.”
Ologbondiyan noted that the negative effect was the further dipping of the country’s economy, as investor’s confidence, which shored up at the expressed resolve by Nigerians to elect Atiku Abubakar as their next President, slumped with the rigging of the Presidential election.
He added, “This is the reason the APC and the cabal at the incompetent Buhari Presidency resorted to violence, intimidation as well as manipulations and alteration of results at the Independent National Electoral Commission (INEC) to rig the February 23, Presidential election.”
The PDP spokesman said that this also explains why APC agents and certain Presidential aides had been making desperate efforts to distract the Presidential Election Petitions Tribunal and derail the course of justice by making and promoting baseless judicial interpretations and externalizing the proceedings of the court.
The PDP however urged Nigerians not to despair but continue to be steadfast in the aspiration for the recovery of the ‘stolen’ Presidential mandate at the tribunal.
The party said this was the only way to return the nation to the path of peace, national unity and a vibrant economy.
Meanwhile,the Peoples Democratic Party (PDP) has alleged that the President Muhammadu Buhari-led Presidency and the All Progressives Congress (APC) are desperate to remain in power at all costs, so as to continue to exploit Nigerians, protect APC corrupt leaders, cover their incompetence and conceal the humongous sleazes in their administration.
In a statement issued by Kola Ologbondiyan, its National Publicity Secretary in Abuja yesterday, the party affirmed: “This is the reason the APC and the cabal at the incompetent Buhari Presidency resorted to violence, intimidation as well as manipulations and alteration of results at the Independent National Electoral Commission (INEC) to rig the February 23, Presidential election.
“This also explains why APC agents and certain Presidential aides have been making desperate efforts to distract the Presidential Election Petitions Tribunal and derail the course of justice by making and promoting baseless judicial interpretations and externalizing the proceedings of the court.
“President Buhari-led APC administration wants to remain in power to prevent investigation into the N14 trillion allegedly stolen under its watch; including the N9 trillion stolen from the Ministry of Petroleum Resources, as detailed in the leaked NNPC memo; the over N1.4 trillion alleged oil subsidy sleaze and the N1.1 trillion worth of crude diverted using 18 unregistered companies linked to APC interests.
“This is in addition to the N33billion National Emergency Management Agency (NEMA) fund, and the over N18 billion stolen out of the N48 billion approved by the National Assembly in the 2017 budget for the rehabilitation of IDPs in the Northeast, among others.
“Furthermore, the Buhari-led APC administration is desperate to avoid an investigation into its unwholesome borrowings that led to the escalation of our nation’s debt stock from N12.12 trillion in 2015 to an overburdening N24.39 trillion in 2018.
“Within a space of three years, this administration has borrowed a total of N12.27 trillion, yet it cannot point to any significant development project into which the money was invested. This includes the N2.66 trillion borrowed in 2018, ahead of the 2019 general elections.
“These and many more are funds meant for infrastructural development and welfare of Nigerians but have been cornered by APC leaders.”
The statement said the Buhari Presidency lacks the competence and integrity to run a creative, transparent and credible administration that can guarantee economic growth, wealth creation and a dependable system has become a globally accepted fact.
It further stated: “The negative effect is the further dipping of our economy, an investor’s confidence, which showed up at the expressed resolve by Nigerians to elect Atiku Abubakar as their next President, slumped with the rigging of the Presidential election.”
The PDP, however, urged Nigerians not to despair but continue to be steadfast in the aspiration for the recovery of the stolen Presidential mandate at the tribunal, as this is the only way to return our nation to the path of peace, national unity and a vibrant economy.
The Rivers State Investment Promotion Agency (RSIPA) has unveiled measures to enthrone ease of doing business and win back the confidence of the business community.
The Director-General of the Agency, Dr Chamberlain Peterside, unveiled the plans at the Breakout Session of RSIPA at the ongoing 18th Port Harcourt International Trade Fair, at the Obi Wali International Cultural Centre, in Port Harcourt.
Dr. Peterside said the agency was poised to free the state from accumulation of wrong narratives that branded it over the years as unsafe for business.
He, however, admitted that many things had gone wrong in the past where regulators joined to make the business environment difficult for investors.
He announced that the agency was rather focused on actions, solutions, and results as adopted in the mission statement of the Board.
“Our task is no mean feat. We are dealing with the perception risk that over several years branded the state as unsafe. We are also faced with the challenges of dealing with the lack of cohesion amongst MDAs, policy inconsistencies, multiple taxation, incessant harassment by miscreants, red tape and delays in obtaining operating permits, high cost of operations and opaque public sector,” he said.
“It is about listening to the investors in the field and ensuring that MDAs are carried along, hence the imperative for the setting up of our One-Stop-Center”, he added.
In his remarks, the Commissioner for Commerce and Industry, Warisenibo Joe Johnson, who represented the state governor, said the Fubara administration was ready to listen to the business community to see ways of reducing impediments to investments.
He listed the stages of actions being undertaken by the governor as outlined in his 37-page blue print to revive the economy of Rivers State.
The Mayor of Housing, My-ACE China, who was presented at the event as a star investor and promoter of Rivers State reputation, said for the plans of the investment promotion agency to materialize, an enabling law should replace the Executive Order that established the Rivers State Investment Promotion Agency.
He said this would insulate the agency from political instability and remove fear in the minds of investors about its sustainability.
According to him, protection precedes promotion and Local Direct Investment (LDIs) is what attracts and promotes Foreign Direct Investment (FDIs).
“It is the rat at home that reveals to the one in the bush that there is fish in the kitchen”, he added.
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?The Mayor of Housing who is also the CEO of the Alesa Highlands Sustainable Green Smart City said that Port Harcourt is like a business empire under lock and key because it is not protecting its own and also not promoting its own enough for investors to come in.
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?In the area of land documentation and inventory, China urged Rivers State Government to borrow a leaf from Abuja and adopt the use of Geographic Information Systems (GIS) in dealing with land and property registration and documentation for ease of doing business.
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?He said Lagos understood the power of business information, adding “this creates the impression that if you are not doing it in Lagos, you are not doing it in Africa.
“We need to shout louder than Lagos, because we need more investments than Lagos and the structural integrity of Abuja. When you marry both, Rivers State would be wonderful and become green with investments,” he said.
In her speech, the President of Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA), Dr. Chinyere Nwoga, called on the state government to look into the menace of parked trucks now turning Trans-Amadi into a risk zone.
She outlined the activities of the PHCCIMA and invited investors and businesses to the Port Harcourt economic hub, saying peace has returned.
The Director, Investors Relations of the Nigerian Investment Promotion Council (NIPC), Mrs Lovina Kayode, urged Rivers State to make haste and catch up on Ease of Doing Business, saying the Council has come to help businesses in the state.
Mrs Kayode, who represented the Executive Secretary/CEO of NIPC, Aisha Rimi, commended the Mayor of Housing and his counterpart, Mr. Oliver Biedima of Rainbow Heritage Group, for their decision to invest in Rivers State, saying it is a proof that Rivers State is safe for investors and their investments.
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In his remarks, Oliver Biedemi of Rainbow Heritage Group urged government to give the private investors chance to develop the economy, saying ordinarily government does not have the funds to develop the economy.
Happy Birthday Chief Barr. Nyesom Ezenwo Wike CON
Honourable Minister Federal Capital Territory
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We’ll Drive Tinubu’s Vision in Rivers With Vigour – Fubara …Inaugurates Dualized Ahoada/Omoku Road ….Debunks Rift With RSHA
Rivers State Governor, Sir Siminalayi Fubara, has stated that he will lead Rivers people to galvanize support for President Bola Tinubu to drive the vision and objectives of the Renewed Hope Agenda in the State with vigour.
The governor, who joined the ruling All Progressives Congress (APC), on Tuesday, explained that his decision to join the APC was not for personal interest but for the overall benefit of Rivers State.
Fubara disclosed these while inaugurating the extension of the dualized Ahoada/ Omoku Express road in Ahoada East and Ogba Egbema Ndoni Local Government Areas of Rivers State.
He commended the contracting firm, Julius Berger, for timely delivery of the project, saying the project is a campaign promise fulfilled which will bring economic benefits to the people and tackle issues of insecurity associated with the route.
He said his administration has remained focused in delivering democratic dividends in the state despite facing glaring challenges.
The governor thanked the people of Ahoada East and Ogba Egbema Ndoni Local Government Areas for their continuous support, and urged his supporters to remain steadfast and also support President Tinubu who he said, has demonstrated love to Rivers State as a father.
Fubara denied having rift with the Rivers State House of Assembly, stating that his meeting with the lawmakers was stalled as a result of delay in the agreed meeting to be convened by former Governor Nyesom Wike and other stakeholders for him to meet with the state lawmakers.
“I have made every effort to meet with the Assembly members, but it is not within my leadership to initiate the meeting process.
“The arrangement was for my leader, Wike, and the elders led by Anabraba to call for a meeting with the the lawmakers.
“I’m a gentleman and principled. I can’t go behind to call them when we’ve already agreed. Whoever that tell them that I don’t want to meet with them, or I rejected proposal meant for them isn’t saying the truth,” Fubara said.
The Permanent Secretary of the Rivers State Ministry Works, Mr Austin Ezekiel-Hart, who gave the project description, said the delivery of the project was a fulfillment of long time dream by the people of Ahoada East and Ogba Egbema Ndoni Local Government Areas.
He said the road was previously a single lane and has now been dualised to 14.6 meters wide, complete with solar-powered streetlights with drainages.
He said the road significantly would reduce travel time between Ahoada and Omoku while improving economic activity in the region.
In his welcome address, Chairman of Ogba-Egbema-Ndoni Local Government Area, Hon. Chuku Shedrack Ogbogu, described the road as a symbol of unity, oneness, and development, thanking the governor for fulfilling his campaign promises.
On his part, the Managing Director of Julius Berger, Engr. Peer Lusbash, said the project was awarded to his company in 2023 with a completion period of 18 months which was achieved in best quality.
He added that Julius Berger enjoyed a good support from the Fubara administration, and assured to complete all ongoing projects being handled by Julius Berger on specification, especially the Ring Road project which is a legacy project.
