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Lagos Leads Highly Indebted States -Report

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Lagos State, South West Nigeria, is number one among the highly indebted states in Nigeria in both external and domestic debts with N1.043 trillion in 2018, in a latest report by the Economic Confidential. While the external debt stock of Lagos amounts to N513.514 billion, the local debt stock settles at N530.243 billion.
In a meticulous investigation just concluded by a team of Economic Confidential Researchers on Annual High Indebted States (AHIS) on External and Domestic Debt, the amount owed by Lagos State represents about twenty (20) percent of the total debts owed by the 36 states and the Federal Capital Territory (FCT) which is N5.376 trillion in 2018.
Among the front runners in the highly indebted states for the external debt stock include Edo, Kaduna, Cross River and Bauchi with $276.25million (N99.45bn), $227.25million (N81.81bn), $188.77million (N67.95bn), and $133.93m (N48.21bn) respectively.
Investigations further reveal that among the first five highly indebted states in the local debt stock saw Lagos emerging tops with N530.243 billion, followed by Delta State with N228.805 billion, Rivers State with N225.592 billion, Akwa Ibom State with N198.663 billion and Cross River with N167.955 billion.
The report further shows that outside Lagos State that is leading the pack on total external and domestic debts with N1.043trn, Rivers State is second with N253.772 billion, Delta comes to third position with N251.589 billion, followed by Cross River in the fourth position with N235.914 billion and the fifth position was grabbed by Akwa Ibom with N215.099 billion.
The investigation also brought to the fore that five states made the list of least indebted states in the external debt stock with Taraba State having $21.611m (N7.780bn), followed by Borno with $21.618m(N7.782bn), and Yobe State with $27.486m (N9.895bn) all in North Eastern Nigeria.
The remaining two states of Plateau and Kogi from North Central Nigeria have external debt stock of $28.874m (N10.394bn) and $31.584m (N11.370bn) respectively.
Of the 36 states of the federation, five (5) states account for the lowest in both domestic and external debts.
They are: Yobe, Jigawa, Sokoto, Katsina and Niger. 10. Yobe state has a total of N37.667 billion, Jigawa N46.586 billion, Sokoto with N52.723 billion, while Katsina and Niger States have N53.220 billion and N63.915 billion respectively.
Though the Federal Capital Territory is not rated among the 36 states of the federation, its external debt profile for 2018 is $31.848 million (N11.465bn) while the domestic debt is N164.245bn bringing a total of its external and domestic debts to N175.710bn.
The report is coming at a time when several states in the country are backward in terms of internally generated revenue to execute projects that would touch lives apart from the fact that most of these states rely heavily on handouts from the monthly federal allocations from the Federation Account Allocation Committee (FAAC).
Recall that Economic Confidential recently published a report detailing each states’ revenue generation profile in comparison to their federal allocations and concluded that many states cannot survive without federation accounts, a development regarded as a misnomer in the current economic realities.

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NELFUND Warns Students Against Fake Loan Portal

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The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.

The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.

In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.

The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.

“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.

This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.

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Eastern Port  Police Boss Promises On Crime-Free Operations 

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The new Commissioner of Police Eastern, Ports Command, Mr Tijani Fatai has promised to ensure a crime- free ports operations in the zone.
He said effective policing will be mounted across the ports in the zone in tackling the high rate of community unrest, activities of port rats  and other social vices.
Fatai while speaking to newsmen shortly after taking over as the 17th commissioner said he wants to be remembered as a peace maker during his tenure as Commissioner of Police in the Eastern Ports Command.
According to him,’’the community policing is the sure way of addressing most conflicts and other social vices bedeviling our society today and I will explore it to its fullest” .
The Commissioner also assured officers  of the rank and file of improved welfare whoch he described as a cardinal objective of the present efforts of the Inspector General of Police (IGP).
He said,” the Inspector General of Police has sent me to assure you all of welfare, promotions as and when due,no  officers particular rank and file will be left behind in the coming months.
Fatai before his recent posting was an operational officer,who spent most of his years with the Police Mobile Force (PMF) where he served as Unit Commander (UC) and Commander, PMF.
Before his redeployment as a Commissioner of Police,(CP), he was the Deputy Commissioner of Police, Operations, DCP, Operations, Lagos State Command.

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Kalabaris Celebrate New Year Amid Fanfare

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Thousands of Kalabari indigenes from Akuku- Toru, Asari-Toru, Degema and Port Harcourt City Local Government Areas last Sunday gathered at Elem Kalabari in Degema Local Government Area to celebrate what they said is the Kalabari new year amidst pomp and pageantry
According to stakeholders, the event which started over 200 years ago normally falls on the 16th of November every year.
The of this year’s celebration which was organised by Kalabari Renaissance Foundation was “Our Heritage, Honouring Our Waters and Renewing Our Spirit.”
Stakeholders said this year’s celebration was symbolic as it was holding at Elem Kalabari which is the home of the Kalabari people.
The event also featured various masquerade displays from cultural troupes within Kalabari and beyond.
Speaking on the significance of the event, the Amanyanabo of Elem Kalabari (The Source), HRH Mujahid Asari Dokubo,  said the celebration signaled a return to the traditional values of the Kalabari people and the need for self-recreation.
“It’s not just about celebration, It’s about recreating ourselves, bringing us back from death.
“The organisation that has come to take over this celebration – Renaissance – really fits the description of what ought to happen to us as a people.
“It’s not just Kalabari; it’s about all of us and our values. We have to look at ourselves and our values,” he said.
Dokubo called on all Kalabari citizens to join hands together to revive their traditional values and heritage in order not to lose  their cultural identity and spiritual trajectory.
Also speaking, Harry Awolayeofori MacMorrison,  Chief Administrator and Chairman of Kalabari Renaissance Foundation, organizsers of the Kalabari new year festival, said the event marks  the beginning of a new calendar year for the Kalabari people, after November 15 of every year when the tide cleanses the pollution from the Sombreiro River inflows, describing it as a renewal of the Kalabari people.
“It’s the renewal of the people. Kalabari area is saline environment and at a time, the Sombreiro River comes in and pollutes the river.
“On the 15th November, across Kalabari, the tide turns and takes all the fresh water that polluted the saline river back to the Sombreiro River
. “On the 15th is the end of the year. Normally when there is an end, there is a new beginning. On the 16th (November) is the beginning of the Kalabari calendar,” he said.
Awolayeofori Mac Morrison said the Kalabari communities had been holding the new year festival separately in the past until the  Renaissance Foundation decided to champion a unified celebration to enable them forge a common front of trado-cultural and socio-economic development across the entire territory.
He said last year’s event held at Abalama while they decided to bring this year’s celebration to Elem Kalabari because of it significance to the Kalabari nation.
Also speaking, a member of the planning committee and media lead, Journalist Ibiba Don Pedro, said there was need to reawaken the consciousness of their people on the need to embrace their traditional values without reservations, noting that there was nothing fetish about the festival.
She said the celebration was to unite the Kalabaris as well as project the cultural heritage of the people.
Don Pedro said time has come for Africa to go back to their root , adding that development will continue to elude African countries until the people rediscover themselves.

 

By: John Bibor, Afini Awajiokikpom, Joseph Miabari Joan, Michael Kingdom & Mary Barugu

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