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Nigeria Sliding Into Bankruptcy, PDP Warns
The Peoples Democratic Party (PDP), yesterday, alerted Nigerians of what it called the gradual sliding into bankruptcy by the country under the leadership of President Muhammadu Buhari.
The National Chairman of the party, Prince Uche Secondus stated this, yesterday, while addressing the 89th Emergency National Executive Committee (NEC) meeting of the party in Abuja.
Secondus, who welcomed eight governors and two deputy governors to the meeting, expressed displeasure at the worrying state of security in the country, noting that the situation was getting worse on a daily basis.
He said: “Our country is in a very bad shape. The populace is groaning in pains and the government response is heaping of further pains on them. This country is sliding into bankruptcy.
“Amidst the frightening insecurity accompanied by mass killings that has set fears on the people, what you get from government is multiple tariffs, Value Added Tax (VAT) and continued indulgences in lies and propaganda.
“I can report to you that between the last NEC and now, our dear country is still at the cross road due to the now obvious inept leadership of the ruling All Progressives congress (APC).
“The security situation in the country has refused to abate and nothing concrete is being done by the government to ameliorate it and stop the senseless killing of innocent Nigerians.
“Even when the National Assembly after reviewing the situation and asked the President to overhaul the security system for greater efficiency, the government has continued to demonstrate their insensitivity to the plight of the populace. Nigerians have never been as afraid of their lives as they are at moment in this country. It’s as bad as that.”
“In the North-East, the Boko Haram insurgency has returned fully and the President feels shocked that the sect still exists. We are already used to our President not knowing what is going on in the country even though as President, the bulk stops on his table.
“The President may have been deceived by the intelligence reports from his field men who continue to indulge in propaganda of claiming that the sect has been defeated even when the situation is worsening with banditry and kidnapping spreading all over the states.
“Nothing exposes the President’s insensitivity and distance from the reality and from the people like his shock that Boko Haram still exists. But what do we expect when the President’s chief security Adviser (Babagana Monguno) is in loggerhead with the President’s number one aide (Abba Kyari)? Your guess will be as good as mine on why this administration cannot move this nation forward,” he added.
“Great leaders of our party, between our last meeting a month ago and today, a lot of water has passed under the bridge, politically speaking. The Supreme Court of Nigeria has through its ruling, restored victory to the party in Bayelsa State resulting in the swearing in of Senator Douye Diri as Governor of Bayelsa State,” the PDP boss said.
“On the Imo State case which shook the nation to its marrow, the Supreme Court graciously accepted to review itself and this is still ongoing as the nation and indeed the international communities are anxiously waiting for justice,” he added.
“It is also necessary to bring to the attention of NEC the fact that the process for the conduct of our party congresses in 26 states is ongoing and I can assure that the leadership is ensuring that we come out of it rancour free, stronger and more united in these states,” he added.
The Nigeria Immigration Service has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, disclosed this yesterday while inspecting Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
He said the centralised production system aligned with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for better service delivery.
The Federation Account Allocation Committee (FAAC) has disbursed N2.225 trillion as federation revenue for the month of August 2025, the highest ever allocation to the three tiers of government and other statutory recipients.
This marks the second consecutive month that FAAC disbursements have crossed the N2 trillion mark.
The revenue, shared at the August 2025 FAAC meeting in Abuja, was buoyed by increases in oil and gas royalty, value-added tax (VAT), and common external tariff (CET) levies, according to a communiqué issued at the end of the meeting.
Out of the N2.225 trillion total distributable revenue, FAAC said N1,478.593 trillion came from statutory revenue, N672.903 billion from VAT, N32.338 billion from the Electronic Money Transfer Levy (EMTL), and N41.284 billion from Exchange Difference.
The communiqué revealed that gross federation revenue for the month stood at N3.635 trillion. From this amount, N124.839 billion was deducted as cost of collection, while N1,285.845 trillion was set aside for transfers, interventions, refunds, and savings.
From the statutory revenue of N1.478 trillion, the Federal Government received N684.462 billion, State Governments received N347.168 billion, and Local Government Councils received N267.652 billion. A further N179.311 billion (13 per cent of mineral revenue) went to oil-producing states as derivation revenue.
From the distributable VAT revenue of N672.903 billion, the Federal Government received N100.935 billion, the states received N336.452 billion, while the local governments got N235.516 billion.
Of the N32.338 billion shared from EMTL, the Federal Government received N4.851 billion, the States received N16.169 billion, and the Local Governments received N11.318 billion.
From the N41.284 billion exchange difference, the Federal Government received N19.799 billion, the states received N10.042 billion, and the local governments received N7.742 billion, while N3.701 billion (13 per cent of mineral revenue) was shared to the oil-producing states as derivation.
The Governing Council of Kenule Beeson Saro-Wiwa Polytechnic, Bori, has decried the inadequate power supply and poor state of infrastructural facilities and equipment at the institution.
The Council also appealed to the government, including Non-Governmental Organisations, agencies, as well as well-meaning Rivers people to intervene to restore and sustain the laudable gesture, dreams and aspirations of the founding fathers of the polytechnic.
The Chairman of the newly inaugurated Council, Professor Friday B. Sigalo, made this appeal during a tour of facilities at the Polytechnic, recently.
Accompanied by members of the team, Prof Sigalo emphasised the position of technology, technical and vocational education in sustainable development.
He noted that with the prospects on ground, and the programmes and activities undertaken in the polytechnic, there is no doubt that the institution would add values to the educational system in our society and foster the desired development, if the existing challenges are jointly tackled.
This was contained in a statement signed by Deputy Registrar, Public Relations, Kenpoly, Innocent Ogbonda-Nwanwu, and made available to The Tide in Port Harcourt.
The chairman who restated the intention of his team of technocrats to ensure that KenPoly enjoys desirable face-lift, said the Council would deliver on its core mandates, accordingly.
Earlier, the Rector, KenPoly Engr. Dr. Ledum S. Gwarah, commended the appointment of Professor Friday B. Sigalo as Chairman of the KenPoly Governing Council.
He described him and his team as seasoned technocrats and expressed confidence in their ability to succeed.
The Rector pledged the management’s support to the Council to ensure that KenPoly resumes its rightful place in the comity of polytechnics in the country.
Facilities visited by the Governing Council include KenPoly workshops, laboratories, skills acquisition centre, library, hostels and medical centre.
Chinedu Wosu
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