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‘Amaechi Wrong On Money Left Behind By Jonathan’
A former Minister of Aviation, Osita Chidoka, has faulted the claim made by the Minister of Transportation, Chibuike Amaechi that the money left behind by the administration of ex-president, Dr Goodluck Jonathan, could not last for three weeks.
Amaechi had made the statement when he appeared on Channels Television’s programme titled, ‘Hard Copy’.
He said, “As former chairman of the Nigerian Governors’ Forum (NGF), I was told by the security in a meeting chaired by the former President, including the former minister of finance, that at every point in time, the government must leave money behind in case Nigeria goes to war that would last for six months. By the time we came, they didn’t leave money behind that could last us for three weeks. And I was speaking at that time as the chairman of the governors’ forum.”
Reacting, Chidoka, who served as a minister under Jonathan said, Amaechi’s comment was “rather unfortunate and not supported by facts readily available in the public domain.”
He said this in a statement titled ‘Gov. Amaechi’s Statement on 2015 Foreign Reserve: Setting the Records Straight.’
Chidoka said, “As a member of the Federal Executive Council that handed over to the current administration, I am disturbed that this urban myth of “empty treasury” is still the subject of conversation by a senior government member.
“Also, I am confused about what the honourable minister means when he says, ‘By the time we came in’, as he was not appointed minister until six months after the May 29 handover. Since he was not a minister on the handover date, it may be pertinent to present him with the facts again.
“On May 29, 2015, President Buhari inherited a foreign reserve of $28.6billion, according to official data still present on the website of the Central Bank of Nigeria (CBN), as well as $5.6billion Nigeria Liquefied Natural Gas Limited dividends. Also, a 2015 budget of over N4trillion was handed over to the incoming administration by the outgoing Jonathan government.
“Furthermore, the Jonathan administration left a total of $2.2billion in the Excess Crude Account on May 29, 2015. (as verified by the Ministry of Finance both by the immediate past minister and the incumbent).
“To further create context, I would like the Minister of Transport to note the country’s economic indices after 1,849 days of President Jonathan’s Presidency from May 6, 2010, the date he took over from President Umaru Yar’Adua to the handover date of May 29, 2015.
“On May 29, 2015, President Muhammadu Buhari inherited an economy that, by the testimony of the World Investment Report, prepared by the Geneva-based United Nations Conference on Trade and Development (UNCTAD), was the number one destination for foreign direct investment in Africa. In the five years of President Jonathan, Foreign Direct Investment stood at about $35.25billion. You can compare this to the $11.55billion Foreign Direct Investment received from 2016 to 2020.
“The Jonathan administration handed over a $550billion economy (largest in Africa and 26th globally) and a diversified economy. On May 29, 2015, President Jonathan left behind an economy with a stable currency, where the Naira exchanged for N199 to $1, and Nigeria had a single-digit inflation rate. Today, after 2,406 days of the current administration, headline inflation rate hovers above 15per cent.
“Under President Jonathan, the unemployment rate stood at 7.5per cent (better than European Union) today. According to the National Bureau of Statistics (NBS), six and half years after Governor Amaechi’s government came in, unemployment is 33per cent.
“Before the government came in, Nigeria’s poverty rate was 32per cent as of May, 2015. We need not compare it against 71per cent today after 78 months of President Buhari’s administration.
“Our external debt as of May, 2015 stood at $7.3billion, the coefficient (degree of inequality) was not different from China’s as of 2015. In 343 weeks and four days of the current administration, our external debt has ballooned to $37.9billion as of September, 2021. It is important to point out that over 48per cent are bilateral and commercial loans.
“With the facts above, I am sure that the Minister of Transport will rethink his fixation on the past and focus on the clear and present danger of an economy on the path to Argentina – sovereign debt default.
“In the face of declining revenues, available public data revealed that external debt servicing gulped $1.82billion between January and September, 2021; this is 43.9per cent higher than the $1.27billion spent in the corresponding period of 2020.
“In the same period of January to September, 2021, domestic debt servicing rose to N1.74trillion from N1.53trillion recorded in the same period of 2020.
“These issues should worry the minister, coupled with unlocking the asphyxiating gridlock that Apapa Port has created in the economy.
“2,406 days after, a clear 557 days (one year, five months) more than President Jonathan governed Nigeria; this administration’s economic policies and heightened insecurity have left the country comatose.
“Minister Amaechi and the APC government should stop this perennial blame game and focus on redeeming its tattered image by signing the electoral bill passed by a Legislature it controls.”
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Victory Over Insurgency Certain, Tinubu Assures
President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.
The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.
He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.
Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.
“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.
“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.
The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.
Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.
He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.
“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”
The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.
The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.
Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.
News
US Embassy, Lagos Consulate Close Today For President’s Day
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
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