Politics
Reps Approve Buhari’s Request For $5.8b Loan
The House of Representatives has approved President Muhammadu Buhari’s request for a $5.8 billion loan and grant of $10 million.
President Buhari had in May, in a letter to the two chambers of the National Assembly, requested to borrow not more than $6.1 billion 2018–2020 External Borrowing (Rolling) Plan to fund the 2021 budget deficit.
The green chamber approved the request following the consideration of the report of the House Committee on Aids, Loans and Debt Management by the Committee of supply on Tuesday.
The Chairman of the Committee on Aids, Loans and Debt Management, Ahmed Safana, presented the report on the loan request.
The House approved $2.3 billion for grid modernisation and expansion programme under the Presidential Power Initiative (PPI). The loan is to be supplied by the German Consortium.
The World Bank and the Islamic Development Bank are to finance malaria-related projects with N200 million and N90 million respectively. The World Bank is to fund the multi-phased programmatic approach immunization plus and malaria progress by accelerating and transforming service projects with $200 million.
To fund the Gurara phase one project, the China Exim Bank will supply $786.38 million, while the World Bank will supply $700 million to fund the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) Project.
The Chinese African Development (CAP) fund, through the Bank of China, will fund three power and renewable energy projects with $276.9 million.
The projects are; Solar Cells Production Facility Phase I & II, Electric Power Transformer Production Plant I, II & III and High Voltage Testing Laboratory. All these projects are domiciled at the National Agency for Science and Engineering Infrastructure (NASENI).
In addition, the World Bank will fund four Agro projects with $1.486 billion. The projects are: Agro-processing productivity enhancement and livelihood improvement support project will gulp $200 million, Agro-climatic resilience in arid zone landscape project will be funded with $700 million, livestock productivity and resilience support project $500 million and value chain development programme $50 million.
The House resolved that the terms and conditions of the loan from the funding agencies be forwarded to the National Assembly before the execution of the projects.
The 2018-2020 External Borrowing (Rolling) Plan contained a request for approval for $36.8 billion, €910 million and a grant component of $10 million.
The request for approval has been in bits. In July, the Senate approved $8.3 billion and €490 million in a batch and another $6.1 billion separately.
The current administration has been under criticism for its borrowing spree.
According to the Debt Management Office, the Buhari’s administration inherited N12 trillion though the total debt stock hovers around N40 trillion.
The Special Adviser on Political Affairs to the Rivers State Governor, Dr. Darlington Oji, has disclosed that about 15 Special Advisers to the governor were duly approved by the Rivers State House of Assembly before the current political crisis in the State.
Oji made the disclosure in a Television programme in Port Harcourt, recently, while reacting to issues surrounding appointments, the impeachment moves against the governor and his deputy, and allegations of financial mismanagement.
He clarified that the appointment of Special Advisers was carried out in strict compliance with constitutional provisions, and received the approval of the Rivers State House of Assembly under the leadership of the Speaker, Martins Amaewhule, before the crisis began.
According to the Special Adviser, the appointments did not require any further screening, countering claims that the governor violated due process in constituting his advisory team.
On the impeachment proceedings against Governor Siminalayi Fubara, and his deputy, Professor Ngozi Odu, Oji described the process as unfounded and lacking constitutional backing.
He said that several lawmakers who initially supported the impeachment move were now reconsidering their stance after discovering that the process had no legal basis.
Oji also attributed the impeachment plot to personal and political ambitions, saying it is not motivated by the interest or welfare of the people of Rivers State.
Speaking on the financial position of the State after the Emergency Rule, the Special Adviser disclosed that the governor met about ?600 billion in the state’s coffers upon assumption of office.
He explained that the availability of funds enabled the administration to continue governance smoothly without the need for a supplementary budget.
The governor’s aide also refuted allegations of financial mismanagement against the governor, and stressed that all allocations to lawmakers and constituency projects were transparently handled.
He maintained that the Fubara administration remained focused on development, stability, and good governance despite the political distractions in the State.
Oji expressed confidence that the impeachment moves would eventually be abandoned as legislators and the public become more informed, adding that the governor’s leadership has continued to reassure citizens and sustain political stability in the State.
King Onunwor
Accordingg to the statement, the Board and National Executive Committee of PANDEF, noted with very grave concern the recent spate of political developments in Rivers State.
“Regrettably, these developments have now degenerated into the decision of the Rivers State House of Assembly to commence impeachment proceedings against the governor and deputy governor.
“This is a deeply disturbing situation that demands urgent attention in order to forestall further escalation and breakdown of law and order.
“This concern is heightened by the critical importance and strategic centrality of Rivers to the Niger Delta region and to the broader socio-political stability and economic wellbeing of Nigeria as a whole”, the statement said.
The Forum called on all parties involved in the resurgent political imbroglio to sheathe their swords and embrace peace.
“This should be guided by the principles of give-and-take, dialogue, tolerance, and political equanimity.
“All stakeholders must place paramount importance on peace, development and the welfare of the people of Rivers.
“We must now focus squarely on good governance and development of the state,” the Forum said.
PANDEF commended President Bola Tinubu, the leadership of the All Progressives Congress (APC), respected elders of Rivers State, and other well-meaning Nigerians for their previous and ongoing efforts aimed at restoring peace and stability in the state.
Speaking in an interview on Saturday, January 10, Chief Sara-Igbe alleged that the minister had flouted regulations governing the commencement of electioneering campaigns by moving from one local government area to another to galvanise political support.
According to him, the action amounted to a clear breach of electoral guidelines being carried out with a troubling sense of impunity that could undermine the rule of law.
“Wike has violated the electoral laws of campaigning by going from local government to local government to talk to the people. He travelled from one local government to another. As a result of his visits to local government areas, he has broken election regulations and continues to do all these things without fear of repercussions”, Chief Sara-Igbe said.
The remarks came as Chief Wike was set to round off a state-wide “thank-you” tour that covered all 23 local government areas of Rivers State.
Although the minister had described the tour as an appreciation visit following support for President Bola Tinubu in the 2023 general elections, critics say the engagements have assumed an overtly political character.
Observers note that during several stops, including recent visits to Andoni and Bonny local government areas, the minister rallied supporters across party lines under what he termed a “Rainbow Coalition,” a move widely interpreted as part of a broader political strategy.
During these engagements, Chief Wike was also reported to have made remarks perceived as a veiled challenge to the authority of Governor Siminalayi Fubara, while repeatedly referencing the 2027 elections and urging supporters to prepare to “correct the mistake” of 2023.
Chief Sara-Igbe warned that allowing such activities to continue unchecked could erode public confidence in Nigeria’s electoral process and called on relevant authorities to enforce existing laws without fear or favour.
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