Politics
RSHA And Task Of Debt Management
The Rivers State Government recently obtained a revolving loan of N200bn from banks for project execution in the State, with a plan of repayment through Internally Generated Revenue on an agreed interest rate.
The decision of the State Government is in apparent conformity with the desire of the Rivers State Governor, Rt Hon. Chibuike Amaechi to complete all projects initiated by his administration. In seeking the loan through a request of approval by the State House of Assembly, the Governor explained that it does not imply that Rivers State was broke, rather it became necessary to meet up targets by ensuring that money is not a constraint to speedy delivery of ongoing projects.
In the course of its deliberation and subsequent approvals of the two loan requests, the Rivers State House of Assembly, certified that the internally Generated Revenue, (IGR) profile of the state was buoyant enough to service the loans on agreeable terms. The State lawmakers also consented to the necessity of the loan in view of the “many people oriented project embarked upon by the Governor”. The Assembly therefore gave the governor smooth ride to stave off all distractions through its legislative backing.
Pundits and virulent critics of the Government has however expressed reservation over its decision to obtain the loans, referring to it as “a booby trap for fiscal impropriety and profligacy in the State”.
In the general estimation of analysts, the propensity for loan is a predisposition to mortgaging the economic future of the state to serving of accruing interest of accumulated loans.
Analysts believes that Rivers State by all standard is disposed financially to carry out projects without recourse to borrowing, and as such accuse the State Assembly of a tacit connivance to squander the state resources.
But the Rivers State House of Assembly Stand by its decision and as a follow up is exploiting its legislative will to augment governments decision and to get it appropriately channeled towards accountable governance. Recently the State Assembly initiated a bold move to forestall the looming prospect of a debt burden for the State.
The initiative came at the instance of the leader of the Assembly Hon Chidi Iloyd through a privately sponsored bill, calling for the establishment of a debt management office in the state. The bill referred to as “Rivers State Debt management office (Establishment) bill 2011”, is an initiative of the Emohua born lawmaker to strengthen the Rivers State Government on borrowing and debt management to forestall a crippling debt burden in the State.
Introducing the bill on the floor of the House, Hon Chidi Iloyd, said “the law is to provide for the raising of loans through the issuance of bonds, notes and other debt securities and for connected purposes”.
He said the bill when passed as law; “will serve as a legal framework to guide the government in the raising of bond and loan for pursuance of projects, building of infrastructure for the economic development of the State”.
Reacting to public criticism of the bill, Hon Chidi Iloyd denied allegations that the bill stands to institutionalized profligacy in the spending of public fund, by giving limitless powers to the Governor to Squander the state. Hon Ilyod said the bill was part of the process of consolidating the state revenue based.
The bill had undergone its first and second readings on the floor of the house and it is presently been debated upon by members of the state Assembly.
The bill which has 27 clauses and 28 citations, came under debate on the floor of the House after members gave it proper perusal and digesting it details for proper deliberation.
While the lawmakers appreciated the fact that Government’s decision to borrow, presupposes the fact that there must be proper management of the loan obtained for fiscal propriety in the state, some of them expressed reservation on the workability of the bill.
In his contribution on the floor of the House, Hon Victor Ihunwo representing Port Harcourt constituency III called for the withdrawal of the bill on the grounds that it demerits out-weights it merits. Hon Ihunwo reasoned that beyond creating employment opportunities for Rivers people, “the bill did not include how the debt management will brief the House periodically to avert the temptation of borrowing by subsequent governments. He also argued that the state do not require more borrowing.
Debating on the issue, Hon Golden Chioma kicked against the recommendation that the Rivers State Commissioner for finance should be the head of the debt management office.
He called for an independent chairman for the office arguing that the state commissioner for finance was already saddled with executive functions. He called for fresh nominees to appear before the House for screening for appointment as directors of the debt management office, while the Hon Commissioner for finance, the secretary to the State Government, (SSG) and the Accountant General of the state should serve as members.
Hon Chioma who supported the bill, said it was in line with ‘the federal government act which made provision for the establishment of debt management office” while calling for the domestication of the bill in Rivers State, he said the five years duration of tenure recommended for the directorate should be reduced to four years.
Hon Ikunyi Ibani of Andoni Constituency, supported the bill and stated that “if the government is committed to borrowing it should also have a modified means of repayment.
He thanked the leader for sponsoring the bill and tasked the Assembly on the need for proper monitoring of the loan facilities.
His words: “If the Assembly has power to grant the executive request to borrow it also has the power to regulate the mode of repayment”. Hon Ibani also suggested that the debt management office should be established as a department in the Rivers State Ministry of Finance.
Hon Augustine Ngo of Abua Odual constituency who also supported the bill said it was timely and also provided the opportunity for “the Assembly to put the records straight and wade off criticism and media hypes over alleged endorsement of profligacy in public spending”. Hon Ngo also shared the same view with Hon Chioma that the directors should be fresh nominees to be screened by the Assembly.
Hon (Dr) Innocent Barikor of Gokana Constituency also supported the bill on the ground that it will check the tendency of abuse of public fund. He said people with proven integrity and the right technical expertise should be appointed in the directorate.
Also contributing, Hon Belema Okpokiri, of Okrika constituency said the establishment of the debt management office was necessary but suggested that “overriding powers should be vested in the Assembly on the activities of the office”.
Hon Michael Chinda representing Obio/Akpor Constituency I, described the establishment of the debt management office as “part of Government planning strategy on debt management.”
Hon Chinda called for the inclusion of a clause in the bill stipulating that “all debts incurred by a particular government should be zeroed to bearest minimum, by ensuring that all such debts are liquidated within the last lapse of the administration.” He also suggested that the Attorney General of the State should be a member of the board of directorate of the debt management office.
Hon Gift Nwokocha of Ogba Egbema Ndoni Constituency I, supported the bill and pointed out that, “issues of debt management is necessary but it is important to know when it is necessary for the state to borrow and when not to borrow”.
The deputy speaker of the State House of Assembly, Hon Leyii Kwane who presided over the session, said the bill debated on the floor of the house was critical to the development of the state, and added that members will be given due opportunities to contribute on the issue.
The Rivers State debt management office (establishment) bill 2011, is the first privately sponsored bill since the resumption, of the 7th House of Assembly in Rivers State. Subsequent deliberation of the House will determine if the bill will scale through as law.
Taneh Beemene
Justice Peter Lifu of the Federal High Court in Abuja on Monday brushed aside the order of the Court of Appeal in Abuja which ordered him to stay proceedings in a suit that sought deregistration of the African Democratic Party (ADC), Accord Party and three others.
The Court of Appeal in a unanimous decision of a panel of three Justices had on May 22, 2026 directed the Federal High Court Judge not to proceed with the suit until an appeal pending before them and filed by Accord Party is resolved.
In a Certified True Copy Enrol Order of the Superior Court, Justices Mohammed Danjuma, Adebukola Banjoko and Oyejoju Oyewumi asked the lower Court Judge to stay proceedings until all issues on the appeal filed by the Accord Party were resolved
Governor Ademola Adeleke of Osun State had, through the Accord Party, applied to justice Lifu to join him as a defendant in the deregistration legal battle instituted by a group of former legislators.
The contention of the Osun State governor was that he had a stake in the Accord Party, being the platform he was seeking re-election in the August 15 gubernatorial poll in the state.
In his ruling, Justice Lifu on April 27 ruled against the Osun State governor, rejecting his request to be joined in the suit to defend his own position and interest.
Not satisfied with the Federal High Court decision, the Osun State governor, through his lawyer, Musibau Adetunbi (SAN), moved to the Court of Appeal in Abuja where he challenged the Justice Lifu decision to refuse to allow him join the suit.
After listening to the argument canvassed, especially that he has interest to protect as Accord Party gubernatorial candidate for Osun State governorship election, the three Justices of the Court of Appeal, unanimously directed Justice Lifu to allow them look into the grievances of the governor.
In specific terms, the Court of Appeal Justices directed Justice Lifu not to proceed further with the matter and fixed October 27 to determine the interlocutory appeal of the appellant.
However, when the certified enroll order and notice of appeal were served on Justice Peter Lifu by Mr Adetunbi (SAN), the judge rejected it on the ground that it was a ploy to arrest his judgment in the matter.
Although the judge had adjourned his judgment delivery in the matter indefinitely, he finally made a dramatic turn around on Monday and proceeded to deliver the judgment that has now proscribed the five political parties.
Actor turned politician, Mr Kenneth Okonkwo, has rejected the choice of former Rivers State Governor, Mr Rotimi Amaechi, as the running mate to Alhaji Atiku Abubakar in the 2027 presidential election on the platform of the African Democratic Congress (ADC).
In a statement on Monday, Mallam Bolaji Abdulllahi, the National Publicity Secretary of the ADC, announced the party’s choice of Mr Amaechi.
However in a statement, Mr Okonkwo said that the choice of Mr Amaechi from the South South strengthens the continued marginalization of people from the South East.
According to the former spokesperson of the Labour Party, any arrangement that would not factor a person from the South East either as president or vice president in the party is anti-Igbo.
He contended that Chief Raph Nwosu, who founded the ADC in 2005 and willingly surrendered it’s leadership to Senator David Mark did not do so to entrench Igbo marginalization in the party.
The former actor said: “I heard from the social media that ADC has picked its vice presidential candidate from the South-South. If this is true, it is unfortunate, as this will continue the crude marginalisation of the South-East.
“This geo-political zone has neither produced a president or vice president since 1999. To deny the South-East the opportunity to produce the president or vice president in the ADC in 2027, will amount to perpetuating the marginalisation.
“The ADC was founded by Ralphs Nwosu from the South-East in 2005. He made the sacrifice to give up the party in 2025 for the coalition to usher in a better Nigeria. He couldn’t have made that sacrifice to marginalise his own people.
“I did not join the coalition to assist in marginalisation of my own people further. I am of the opinion that if we made a sacrifice to give up the national chairman and the president, it will amount to unpardonable injustice to deny us the vice president in 2027.
“I joined politics to fight for a better Nigeria where no region, geo-political zone, or person will be marginalised.
“The only favour I asked Atiku Abubakar, who openly declared that he is the pathway to the presidency of the South-East, is to show it by choosing someone from the South-East to be his vice.
“If it is confirmed that he has chosen a candidate from the South-South, I wish him well. I am not favourably disposed to campaigning for any presidential ticket that does not have a person of South-East origin as president or vice in 2027”
The National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, on Monday said that the numerous projects being executed by President Bola Tinubu across the states in the southeast will give him upper hand over other presidential candidates during next year’s general elections.
Prof. Yilwatda stated this at the Abakaliki Township Stadium during a mega rally organized by the Ebonyi State government and Minister of Works, Senator David Umahi, during which President Tinubu and other APC candidates for the 2027 general elections were adopted.
According to the APC National Chairman, no President had done for the southeast region what President Tinubu has done for them and expressed the confidence that the president would not only win in Ebonyi State but in the entire South East.
Prof. Yilwatda also used the occasion to address growing insinuations in some quarters that Ebonyi State had been conceded to the Peoples Democratic Party (PDP) ahead of the 2027 general elections.
Dismissing the claim, Prof. Yilwatda said the state would not allow the PDP to win any position in the forthcoming general election.
“We will return President Bola Ahmed Tinubu and Francis Nwifuru as Governor of Ebonyi State in 2027.
“We want to return all APC senators, members of the House of Representatives and House of Assembly candidates in 2027.
“Nobody has conceded Ebonyi to the PDP. Therefore, there is no vacancy in Ebonyi State. Ebonyi PDP has no place, and there is no vacancy at all in the Government House come 2027,” the APC National Chairman declared.
He commended the people of the state for their support for President Tinubu and urged them to re-elect him in the next presidential election in appreciation of what he has done for the state and the entire South-East through infrastructural transformation and human capital development.
Governor Francis Nwifuru, who also spoke at the event, said the state had no other presidential candidate for the 2027 general elections apart from President Tinubu.
He declared that Ebonyi remained a stronghold of the APC and vowed that the party would deliver the President in the state.
Gov. Nwifuru said President Tinubu had shown exceptional commitment to the state and deserved total support for appointing Senator Umahi as Minister of Works, a role he said Senator Umahi had performed creditably.
“Ebonyi has no other presidential candidate apart from President Bola Ahmed Tinubu, and we will return him in the presidential election.
“We are standing here today to tell the whole world, especially those using the President’s name to orchestrate division and confusion in this great state, that we have only one party, and that is the APC.
“This statement became necessary because some people are going around claiming they have discussed with Mr President and that he has handed Ebonyi over to the PDP. They are also saying that Chief Nyesom Wike is their leader and that Wike said the President has given Ebonyi to him.
“Ebonyi is not for sale. We are restraining ourselves because the people are with us. Nobody should push us because we have what it takes to confront anyone trying to destabilise us.
“We want to tell Mr President that he has earned our votes. He gave us what we had never had in Eastern Nigeria — the office of the Minister of Works. And this Minister of Works is not sitting idle; he is working,” he stated.
Senator Umahi, in his remarks, said President Tinubu had done what no other President had done for Ebonyi State and the entire South-East by executing numerous projects across the state and the region.
“Ebonyi State is a one-party state under Governor Francis Ogbonna Nwifuru. We are not going to repeat the mistakes of the past.
“President Bola Ahmed Tinubu has done a lot, not just for Ebonyi State but for the entire South-East and other geopolitical zones,” he said.