Politics
Ailing Ports: RepsThreaten To Invoke Laws Against CBN
Chairman of an investigative Ad hoc Committee of the House of Representatives, Rep. Yusuf Buba (APC-Adamawa), has threatened to invoke constitutional powers to compel the Central Bank of Nigeria (CBN) to appear before it over ailing ports.
Buba issued the threat in an interview with journalists on Monday in Abuja after the CBN, again, failed to appear before the committee.
The committee is on the need to determine why the Warri, Port Harcourt, Calabar, Onne and Onitsha inland complexes were not being put into maximum use.
It had summoned the CBN and four others at a public hearing on Thursday, August. 15, 2019 which the agencies failed to appear.
While the Nigerian National Petroleum Corporation (NNPC) Department of Petroleum Products (DPP) and Nigerian Customs Service (NCS) all appeared, the CBN did not come.
“Today, they all met with us and they have all made their presentations, except the CBN and then we are issuing a last warning to the CBN to make sure they make themselves available.
“If they do not, we will use our constitutional powers to summon them by force,” he said.
According to him, majority of the people in that maritime business were from eastern axis of the country.
“There is no reason why their ports would not work, we cannot subject them to bring their goods through Lagos and start transporting it on the bad roads,” he said.
Contrary to claims by Ship Owners Association, Buba said that there was no deliberate government attempt to stop the ports in the east from functioning.
The lawmaker said that no government would want to choke the source of livelihood of its citizens, adding that the claims were not true.
Buba said that it was difficult to bring very heavy goods through air cargo, especially goods such as Premium Motor Spirit or crude oil.
According to him, it is very expensive for our businessmen to do that and so the ports must work for the economy to open up and we must make it work.
Buba maintained that the committee would look into issues surrounding all the dredging contracts and make sure whoever was found wanting would be made to face justice.
The chairman said that the issues of security on the waterways were being investigated with a view to finding lasting solution to piracy and sea robbery.
He said that the committee would look into the roles and challenges of security agencies saddled with the responsibility of keeping the waterways safe.
The Tide source reports that Prof. Akinoso was elected alongside 38 other executive members of the party at the congress held on Saturday.
Other executive members are Dr Abiola Olaonipekun, who emerged as Secretary, Alhaja Latifah Latifu, Women Leader and Mr A. Adeleke, elected as Youth Leader.
It was learnt that the congress, which took place at the Obafemi Awolowo Stadium, Oke Ado in Ibadan, was attended by representatives of the Independent National Electoral Commission (INEC), the Police, other security agencies and prominent members of the party.
The election was supervised by electoral committee members, among whom were Prince Diran Odeyemi, who served as Chairman, Hon. Awoniyi Tolulope, Mr Babatunde Gbadamosi, Queen Stepheine Oyechere, Alhaji Yusuf Abidakun, Mr Olumide Aguda and Dr Phillips Adeniyi, who served as Secretary.
Prof. Akinoso, in his inaugural address, urged members of the party to set aside intra-party differences.
He advised them to concentrate their resources on the promotion of the party, saying, “The primary responsibilities of party executive members are to coordinate party activities, ensure harmony among members, and ensure party victory during general elections.
“Our immediate assignments are to key into INEC released 2027 general election time-tables. As directed by the National Caretaker Committee of PDP, our party e-membership registration starts next week. We must be fully involved and do a membership drive.
“A political party is only relevant and benefits its members if it wins the election. This is our goal. We should set aside intra-party differences; concentrate our resources towards the promotion of the party. We will make necessary consultations and dialogue to actualise this”.
President Tinubu disclosed this during an interfaith breaking of fast with senior journalists and media executives at the Presidential Villa in Abuja on Saturday.
He also disclosed that his administration had opened up on the principles of true federalism to the extent that local governments now get direct allocation from the Federal Government.
“There’s no morning that I ever leave my house without going through the newspapers. It’s an addiction. I read all of you.
“It might not be in full detail, but headline, the one that would hit me and the ones that won’t.
“At the beginning of this administration, I was just a little bit stubborn, looking at opportunities to correct things and make life more easier for the downtrodden.
“We’ve opened up the principle of federalism to the extent that local governments are now getting their money, but how they use it is in your hands. So, don’t bombard me alone,” President Tinubu said.
The ruling party said the ADC had turned criticism of the APC-led administration into its operating manifesto instead of presenting concrete solutions to Nigeria’s economic challenges.
In a statement issued on Saturday by the APC National Publicity Secretary, Mr Felix Morka, the party dismissed the ADC’s interpretation of a report presented at a policy dialogue organised by Agora Policy which suggested that the country’s poverty rate had risen from 49 per cent to 63 per cent.
Mr Morka said the opposition party’s reaction to the report as a “damning verdict” on the government’s economic policies reflected either ignorance of economic realities or deliberate political mischief.
“The African Democratic Congress’ attempt to spin a recent report presented at the Agora Policy dialogue indicating a rise of poverty rate of 63 per cent from 49 per cent as a damning verdict on this administration’s economic policies speaks either to its shocking ignorance of economic policy or its wilful blindness to the justification for, and transformative impacts of, ongoing economic reforms,” he said.
The APC spokesman noted that the report itself recognised the necessity of reforms aimed at correcting long-standing structural distortions in the economy.
According to him, the ADC had failed to present any credible alternative policy direction for Nigerians.
“Clearly, the ADC does not recognise itself as a political party. The ADC has not articulated a single alternative policy position or prescription of benefit to Nigerians. Condemning the APC and its policies has become its operating manifesto,” Mr Morka said.
He explained that major economic decisions taken by President Bola Tinubu, including the removal of fuel subsidy and the unification of multiple foreign exchange windows, were necessary steps to rescue the country’s economy from collapse.
Mr Morka said the subsidy regime had for years placed a heavy burden on public finances, consuming trillions of naira annually while encouraging corruption, fuel smuggling and inefficiencies in the system.
He added that the reforms had helped redirect national resources to key sectors such as infrastructure, healthcare, education and social development.
The APC spokesman acknowledged that economic reforms often come with short-term hardship but stressed that the measures were essential to build a stronger and more resilient economy.
“Economic reform is never cost-free anywhere in the world. The transient hardship experienced by Nigerians was an inevitable cost of reforms meant to build and guarantee a better future for all Nigerians,” he said.
Mr Morka maintained that the country’s economic outlook was already improving, citing recent growth figures and stronger external reserves.
“Our economy has rebounded and is expanding steadily. The country’s Gross Domestic Product grew by 4.4 per cent last year and is projected to expand by 5.5 per cent this fiscal year, with foreign reserves now exceeding $50 billion,” he stated.
He also pointed to government initiatives designed to cushion the effects of economic adjustments on citizens, including cash transfer programmes, student loan schemes and the rollout of compressed natural gas (CNG) initiatives to reduce transportation costs.
Mr Morka reaffirmed that the APC-led administration would remain focused on rebuilding the economy and expanding social investments to support vulnerable Nigerians.