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Infrastructure Decay: FG Shops For $140bn Loan -Osinbajo …Spends N4.33trn On Capital …Projects In Three Years …Establishes Secondary Education Commission
Vice President, Prof Yemi Osinbajo yesterday, revealed that Nigeria was looking up to America and other countries of the world for a loan of up to $140 billion to tackle the infrastructure decay in the country.
Osinbajo said this is after the present government has spent up to N3.5 trillion in the last four years to fix infrastructure decay and still has not scratched the surface.
The Vice President, represented by the Minister of Trade and Investments, Dr Okechukwu Enelamah spoke at the opening ceremony of the trade and investment expo exclusively for Nigeria and America, tagged USA Fair 2019 in Lagos.
He said government was making infrastructure revamping a priority in the next four years, just as it would also try to deploy modern infrastructure within same time frame, for job creation and ease of doing business in the country.
His words: “We are interested in building modern infrastructures. Our president has pointed that if we build infrastructure, Nigerians will do well.
It is the singular most important thing we can do to create jobs. “We spent over N3.5 trillion in the last three years. We are trying to figure out how to raise $140billion that Nigeria needs to catch up with infrastructure deficit over the next four years.
This is what the government is taking a hard look at and thinking of how to partner great countries like America and other nations around the world”.
Osinbajo also stated that partnership with the USA, in this instance is so strategic, considering that the US has remained the largest economy in the world that cannot be ignored by any forward looking economy.
He added that “Nigeria also remained the largest economy in Africa and one that the USA cannot also ignore. So we both have responsibility to work together for the greater good of not just our two countries but the world at large.
“We are committed to nurturing and building this relationship. We want the best for both countries. This is the reason we have worked with our partners in Commercial Department to launch the commercial and investment dialogue.
“This is a high level engagement to our government and businesses for both Nigeria and US to eliminate critical hindrances to bilateral trade and investment.
“Last year, there was over 90 billion worth of investment interest to Nigeria. This year, we need to exceed that because we need a steady growth in investors’ confidence but this investor confidence must be converted. We are seeing some good signs, like Jumia listing on New York exchange, MTN on the Nigeria Stock Exchange and Microsoft announcing plans to launch a development centre in Lagos. While all these are refreshing, we don’t think we are near our potential at all; we really need more, that is why this Fair is important and I have to tell you that we are extremely hungry to achieve more for the people”.
Meanwhile, the US Ambassador, Mr. Stuart Symington, said the American and Nigerian economies have much in common, including an intense entrepreneurial drive, a firm commitment to free market principles and a clear vision for doing well by doing good.
He said: “USA Fair 2019 is a prime opportunity to celebrate these mutual ideals and to drive both our economies forward through increasing trade and investment that have already put more people to work in both nations.”
Meanwhile, Minister of Budget and National Planning, Senator Udoma Udo Udoma yesterday said the Muhammadu Buhari administration disbursed a total of N4.33 trillion to execute its capital projects for 2016, 2017 and 2018.
At a valedictory press conference in Abuja, Udoma said “Ministry of Finance was able to release, for capital spending, the sum of N1.2 trillion under the 2016 budget, the sum of N1.58 trillion under the 2017 budget and, as at 8th May 2019 the sum of N1.55 trillion has been released under the 2018 budget.”
“We increased budgetary allocations to capital expenditure – from 16.1% in 2015 to 30.2% in 2016, 31.7% in 2017, 315% in 2018 and 26% in 2019- with priority given to the key execution priorities of the Economic Recovery Growth Plan, ERGP. We were also able to increase our capital releases,” Udoma said.
The Minister, regrettably during question and answer with the reporters admitted that the projection of growing economy by 7% a forecast of ERGP by 2020 is threatened and seems unrealisable.
He explained that the administration was unable to achieve the January to December budget cycle due to the absence of harmony between the executive and legislative arms of government.
While insisting that there was no legal requirement for the budget year to run from January to December, he, however, admitted January to December fiscal year is more predictable and would help the private sector and other economic players in planning because most economic players run a January to December fiscal year.
“Also, it would be much easier to track budget performance if both the recurrent and the capital budgets run from the same dates.
“However, to return to the January to December fiscal year for a budget when the operation of the current budget only commenced in June or July is a very challenging assignment.
“In order to achieve a return to a 1st of January commencement date the budget must ideally be delivered to the National Assembly by September.
“But when you are operating a budget which commenced only in June, or July, by September you would have had no idea how the existing budget is likely to perform.
“Indeed, given the procurement process, for a budget which starts running in June or July, there might have been little or no capital releases by September.
“In short, the only way to return to a January to December fiscal year, under those circumstances, is for there to be agreement between the Executive and the National Assembly to produce a budget on the basis of significant assumptions.
“This will require a very close working relationship of trust and synergy between the two arms of government.”
On the Social Investment Program ( SIP), the Minister said “as at March 2019, 1,707,932 loans been successfully disbursed under the Government Enterprise & Empowerment Programme (GEEP), with 1,374,192 of the loans given under the TraderMoni scheme; while 330,568 loans were for MarketMoni and 1,172 for FarmerMoni; over 9.5 million school children are currently being fed each day in 52,604 schools across 30 states under the Home-Grown School Feeding Programme.
“This programme has also provided direct jobs to 101,913 catering staff engaged under the scheme; 297,973 poor Nigerians across 20 States, have benefited from the N5,000 Conditional Cash Transfer Scheme and 3,517 community facilitators have been trained; 500,000 graduates are benefiting from the N-Power programme and are paid N30,000 monthly; while 20,000 non-graduates in the N-Build category are either currently in training or serving as intern,” Udoma explained.
In another development,the Federal Government has approved the establishment of a Secondary Education Commission to oversee the operations of secondary schools in the country.
Minister of State for Education, Prof. Anthony Anwukah, who made the disclosure in Abuja, yesterday, at a valedictory news conference, said President Muhammadu Buhari recently gave approval for the establishment of the commission.
He also said that the Federal Government also reviewed downwards the charges in Unity Colleges from N83,000 to N49,500.
The minister said the government had pegged PTA levy at N5,000 across the board, thereby ending arbitrary charges of N75,000, which nearly inhibited access to unity colleges.
According to Anwukah, unity schools in Nigeria will remain as long as the Buhari administration is in power.
‘‘Having taken this position, we embarked upon the rehabilitation of unity colleges in all the ramifications required.
“The Buhari administration had spent a total of N7billion on the provision of security infrastructure in the last four years.
‘‘Against the backdrop of insecurity in the North-East, affected by ‘Boko Haram’ as well as incidents of kidnapping in parts of the country, the Federal Government decided to provide basic security facilities in all unity schools,’’ he said.
On the development of infrastructure, Anwukah said that the government had embarked on the construction and rehabilitation of classrooms, hostels, laboratories, among others.
‘‘In spite of the economic downturn, we have done well in terms of investment in capital expenditure.
‘‘In terms of improving funding for the education sector, I am optimistic that the Federal Government will expeditiously look into the recommendations we have made in that respect.’’
The minister emphasised that if education could be adequately funded, the country would be able to compete with the world in the area of global knowledge.
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Fubara: Nigeria Needs God-fearing Leaders To Make Progress …Applauds Seventh Day Adventist
Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.
The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of the church at Government House, Port Harcourt.
Fubara who hailed the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria, expressed delight that the Church had over the years, been investing in education at various levels and currently runs two universities in the country.
He commended the church for not only using its institutions to spread the gospel of Christianity but to groom future leaders for the country.
According to him, religion should not be just about defending one’s faith, but also making meaningful impact on the lives of the people.
He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria in the task of producing not only educated people but a breed of God-fearing leaders.
“Our country is where it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation, you’ll go beyond the line and that is what has brought us to where we are today.
“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.
Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society, has also given rise to other problems such as social inequality, poverty, corruption and criminality. According to him, Nigeria needs a system where the average parent could afford quality education for their children and a guarantee that upon graduation, the average child will have the capacity to compete favourably with anybody, anywhere in the world.
“If we have a situation where the little money that you’re being paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices we have today won’t be there,” he said.
Governor Fubara expressed appreciation to the delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.
Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s ministers will be undergoing an empowerment programme to further equip them for the task of herding their flocks and serving the society.
He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.
Kohler disclosed that the Church has over twenty -four million (24,000,000) members and more than 182,000 places of worship, spread across 212 countries of the world.
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Rivers Assembly Approves Fubara’s 2026–2028 MTEF
The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.
This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.
The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.
Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.
Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.
He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.
The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.
During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.
The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.
Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.
Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.
The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.
According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.
Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.
The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.
King Onunwor
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JUNE 12: Democracy Remains Nigeria’s Strongest Path To Unity, Progress, Says Fubara ….Extols Abiola, Wife
Governor of Rivers State, Sir Siminalayi Fubara, has reaffirmed that democracy remains the most effective system of government for Nigeria, given the country’s rich diversity of ethnic, religious, and cultural identities.
In a goodwill message to Nigerians on the occasion of the 2026 Democracy Day celebration, Governor Fubara said June 12 represents far more than a historic date; as it embodies the enduring struggle, sacrifice, and collective aspiration of Nigerians for freedom, justice, and representative governance.
The Governor extended warm felicitations to Nigerians at home and in the Diaspora, paying tribute to the heroes and heroines of the democratic struggle, particularly Chief MKO Abiola, his wife, Kudirat Abiola, and countless others whose courage and sacrifices helped secure the democratic freedoms Nigerians enjoy today.
According to him, “June 12 is a reminder of the price paid for the democracy we enjoy today. The sacrifices made by Chief MKO Abiola, Kudirat Abiola, and many other patriots who laid the foundation for the democratic journey we continue to enjoy today. Their commitment to the principle that power must ultimately reside with the people remains a source of inspiration for every generation of Nigerians.”
Governor Fubara noted that thirty-three years after the historic June 12, 1993 election, Nigeria’s democratic experiment has continued to evolve despite challenges and setbacks.
“Our democratic journey has not been without difficulties, but the resilience of our institutions and the determination of our people have kept the nation moving forward. The ability to express differing opinions, engage in constructive debate, and peacefully choose leaders through the ballot remains one of the greatest achievements of our nation,” he said.
Governor Fubara stressed that democracy provides the best framework for managing Nigeria’s diversity and transforming it into a source of national strength.
“Nigeria’s diversity should never be seen as a weakness. Properly harnessed, it is our greatest asset. Democracy offers us the opportunity to build consensus, promote inclusion, strengthen national unity, and create the conditions for sustainable development and shared prosperity,” he said.
Governor Fubara commended President Bola Ahmed Tinubu, for his commitment to the Renewed Hope Agenda and ongoing efforts aimed at economic revitalization, strengthening security, and deepening democratic institutions across the country.
He reiterated the readiness of Rivers State to continue partnering with the Federal Government in advancing policies and programmes that improve the lives of citizens through infrastructure development, job creation, enhanced security, quality education, healthcare delivery, and good governance.
The Governor further called on Nigerians, regardless of political affiliation, ethnic background, or religious belief, to use the occasion of Democracy Day to renew their commitment to the Nigerian project and the ideals that underpin democratic governance.
“Democracy must not be viewed merely as a periodic electoral exercise. It must be reflected in our daily commitment to accountability, transparency, tolerance, justice, respect for the rule of law, and responsible leadership. As citizens and leaders, we all share a collective responsibility to strengthen our democracy and build a nation that future generations will be proud to inherit,” he said.
Governor Fubara expressed optimism about Nigeria’s future, urging citizens to remain united, hopeful, and committed to the values of peace, dialogue, and national development.
“Together, we can build a stronger, more inclusive, and more prosperous Nigeria where every citizen has the opportunity to thrive and contribute meaningfully to national progress,” he said.
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