President Bola Ahmed Tinubu recently proposed to the National Assembly a N2. 18 trillion supplementary budget - the details of which have generated much interest in the public domain, especially those aspects of the supplementary budget relating to expenditures not considered of urgent importance but now reintroduced into the existing framework.  During the campaigns for the 2023 Presidential election, Tinubu as candidate had promised that he as someone with a financial background would pay careful attention to Nigeria’s borrowing profile, and that he would not increase the country’s debt burden by borrowing more for reasons of consumption. At the time, Nigeria’s debt burden was a problem: external debt stock was about $41. 69 billion in 2022, domestic public debt stock was in excess of US$100 billion. 

The country’s Debt Management Office (DMO) even argued that the debt was sustainable, and that Nigeria in fact had one of the lowest debt-to-GDP ratios in Africa- in 2022, debt to GDP ratio in Africa was 56%, in Nigeria 38%. It was argued that Nigeria’s debt-carrying capacity was still strong. The World Bank recommends a tolerable debt-GDP ratio of 77%. We were told that debt should not be a problem, after all, the United States has a debt-GDP ratio of over 120 per cent and the country still functions. The counter-point to this, however, is the debt-service ratio. It was established by professional economists and the opposition in 2023, that debt-service was/is the major problem. By 2021, Nigeria was spending about 19% of its revenue on debt service; in 2023, this had increased to more than 90%. Nigeria, in 2023, had the fourth lowest revenue-GDP ratio in the world. Government revenue as a percentage of GDP is indeed abysmally low. With uncertainties in oil and gas revenues, and crude oil theft in the Niger Delta, Nigeria today is not so certain about its revenues. The default position has been to pay more attention to tax revenue. 

Given this background, it is right to assume that the major priority for the Tinubu administration would be to address Nigeria’s debt burden and not worsen it, manage inherited circumstances prudently and give the people hope that there is truly a new dispensation in town. Nigerians during the elections beyond partisan considerations had hoped that the new administration that would emerge would reduce the cost of poverty, generate employment, promote economic growth, give jobs to the people, and generally reduce the cost of governance. There seems to have been a pervasive consensus that Nigeria is on the brink of insolvency, and that a new government by whatever label must act differently. The problem is not that President Tinubu asked for a supplementary budget.  The questions are what for? how and why? At the recent Presidential retreat for leaders of Ministries, Departments and Agencies (MDAs), long awaited, unnecessarily delayed but better later than never all the same, the President said that borrowing is not a crime and that he was determined to borrow and increase Nigeria’s debt profile more or less. Even the dumbest economist on the street would tell you that countries can always borrow, but such borrowings must place the country in a situation where it can pay its debts, create budget surpluses, invest in infrastructure and support small businesses. A country can also borrow to diversify the economy for tangible benefits. No serious country borrows for luxury, consumption, or to indulge the taste of the men in power.

The current controversy about the Tinubu administration’s request for a N2.18 trillion supplementary budget must be seen in this light. The Communication process has been bad. The management of the aftermath has been negligent. The details go beyond what is in the public domain. The breakdowns show that the Federal Government is looking for more money  for the Defence headquarters, the Nigerian Army, Nigeria Navy, Nigerian Airforce, Defence Intelligence Agency, Police Formations and Command, the Federal Capital City Administration, Office of the National Security Adviser, Department of State Services,  State House, Federal Ministry of Works,, construction of Highways in the North East, North West, South East, South West, South South,  Agriculture, Bridges Intervention, and the  Federal Ministry of Housing. It must be noted that Nigerians have not complained about aspects of this supplementary budget that would be of benefit to the Nigerian people. They have complained however about aspects of the budget relating to luxury items particularly with regard to the needs of the Nigerian Presidency namely, the proposed request for N4 billion  for the renovation of the residential quarters for the President in Abuja;  renovation of the residential quarters of the Vice President (Abuja) – N2.5 billion;  Renovation of Dodan Barracks, Lagos, Official Residence of the President  - N4 billion, Renovation of Official Quarters of the VP (Lagos) – N3 bn, Construction of Office Complex in the Presidential Villa  - N4bn; Purchase of Presidential Yacht – N5 bn; Purchase of Vehicles for the Office of First Lady -  N1.5 bn; Purchase of SUVs for the Presidential Villa - N2.9bn, and Replacement of Operational Vehicles for the Presidency – N2.9 bn. These details have sparked outrage, and in an understandable sense. 

When President Tinubu assumed office on May 29, 2023, he declared to Nigerians that fuel subsidy was gone. This has brought great and untold hardship upon the people: increase in the cost of living, with headline inflation now at over 26%, the highest in 18 years, crisis with the Naira which has been yo-yo-ing, against the dollar, further driving up the cost of living and the widespread pandemic of poverty in the country. The consistent message by the Tinubu administration is that the people should be prepared to make necessary sacrifice: things may be rough, we have been told, but they will get better surely, so we the people, must be patient. The sheer commonsense of it would be that while the people of Nigeria are facing serious hardship, their leaders who are prescribing austerity would also demonstrate that they are with them, on their side, and ready to suffer along with the people until the country gets out of the woods. More so, they have a President who has been there at the battle front of democracy, at the barricades, and who cannot claim that he does not understand how the people feel. His wife even recently boasted that she and her family do not need Nigeria’s money. So, what is the problem? Why do they want new cars and renovated quarters? Why can’t they wait? 

The problem is that the President is sending wrong signals with regard to the issues highlighted above that need to be addressed. There is a tendency for people in government to live in the Rose Garden and dismiss the people as ignorant. This would be a wrong approach as it was in the past, as it is now, as it would always be. The people have both the need and the right to know. At the risk of over-simplification, it is the duty of government to continuously explain to the people and re-build their trust and confidence, even when the matter appears mundane, self-evident, and self-explanatory. One of the major risks of democracy is that those who govern may be dealing with a patently dumb population, but the people must never be treated as dumb, because they may be quick to learn and ask the right questions and their dumbness could become historical wisdom. True sovereignty in that regard belongs to the people. Power belongs to the people as the lesson has been learnt in such places as France in 1789, 1830, and 1848 and in Brazil in 1835, 1964 and 1972.   

It is therefore important to listen carefully to what the people of Nigeria are saying. They seem to be saying that it is wrong for President Tinubu to tell them during the campaigns that brought him into office that he will reduce Nigeria’s debt stock, and would focus more on productivity, to now come around and announce that borrowing is not a crime. Nobody has ever said that borrowing is a crime. It is what you do with it that matters, and when you make a promise, you keep it – a matter of honour. We admit that most of the details in the supplementary budget are not controversial, except those sections relating to luxury. New vehicles for the office of the First Lady! What on earth is that? An average Nigerian who is finding it difficult to buy ordinary recharge card, or buy fuel, is bound to ask.  They didn’t vote for Mrs.Tinubu, they seem to be asking. So why should her office show up in the budget of the Federal Republic of Nigeria? Again, the State House wants to change vehicles? Nigerians have had cause to draw attention to the example of President Hakainde Hichilema of Zambia who refused to change official vehicles after assuming office. There is a video of the Zambia President out there which simply says he wants to serve not to indulge in the pleasures of office. For those who are in doubt, at least one Nigerian newspaper has written a full editorial on the subject: The Daily Trust asks: “Why should the Presidency make a budget for a new fleet of cars for the First Lady’s entourage? What happened to the vehicles used by former First Lady Aisha Buhari? What happened to the pool cars used by former President Muhammadu Buhari? What happened to the cars used by former Vice President Yemi Osinbajo? How many times will the Presidential lodges be renovated?” (Monday, Nov. 6). But what really stands out, and made to look like a scandal is the reported plan to buy a yacht for the President under the budget of the Nigerian Navy. A Yacht for the President, at a time when the people find it difficult to pay for transportation? The outrage has been loud and deafening 

As it happened, the House of Representatives resolved that the N5 billion earmarked for this yacht should be added to the proposed supplementary budget for students’ loans – in itself another controversial proposal, with the details so opaque. A budget is a proposal after all. It is not binding until it is appropriated by the National Assembly. But the narrative that later came out is that the controversial Presidential Naval Yacht was actually ordered by the Nigerian Navy under the previous Buhari administration. It was delivered in June 2023. It showed up in the 2022 Supplementary Budget proposed by President Tinubu because Nigeria has an obligation to pay on delivery. International transactions are governed by strict laws under the rules of international trade. Without being pedantic by quoting the rules and structures of international trade, it looks like in this particular transaction, Nigeria has bought itself a Presidential yacht. The country has an obligation to pay. The documents of sale have been received. The yacht has been delivered, and this really looks like a CIF sale. The seller is not obliged to worry about Nigeria’s domestic politics. The details of the contract of sale not being in the public domain, this is the best assumption that can be made. 

However, what Nigerians must note is that Nigeria used to have a Presidential Yacht. Nigeria had a yacht called NNC Runa Yaro. It was later named AMARIYA.  The luxury boat was seized from a former Governor of Rivers State and handed over to the Nigerian Navy. It was re-purposed for both luxury and training operations. President Shehu Shagari used it. General Babangida also travelled with the yacht once to the Republic of Benin to attend an ECOWAS meeting. President Olusegun Obasanjo hosted visiting Presidents on the vessel.  In 2011, the vessel was decommissioned. Indeed in 2018, President Muhammadu Buhari had asked for the vessel to be used to take the Prince of Wales to sea only to be told that the vessel had been decommissioned. The Nigerian Navy was then told to source for a new option. This is the background, but it is not even the entire story. There is another story that the Nigerian Navy had in fact as far back as June 2010 asked the Nigerian Government, Dr Goodluck Jonathan was President at the time to review the Presidential Naval fleet and buy a new yacht ahead of the country’s 50^th Independence celebrations. President Jonathan reportedly turned down the request.  

Nigerians are angry again because not even the United States has a presidential yacht. The last Presidential yacht in the US, the USS Sequoia was decommissioned in 1977 by President Jimmy Carter and sold off. The key difference is that whereas the Americans have many options, most Nigerian Naval vessels cannot function. They are like the refineries. Even our flagship NNS Aradu cannot move, and with that being the case, Nigerians have every reason to be angry that anyone at all can talk about a yacht, the simple dictionary definition of which is about pleasure and luxury! Should there be a military challenge against Nigeria tomorrow, are we likely to go to the battle field with a luxury boat and Big Brother Naija actors? But we have bought a luxury boat guys, and we are obliged to pay for it. While other countries of the world are getting serious, we are busy thinking of luxury for staff and wives and…What a country!  No yacht for President Tinubu.  

Nigeria’s FIFA badge referee, Yemisi Akintoye, has been selected for the 2023 African Women’s Champions League taking place in Cote d’Ivoire from 5 to 19 November.
The University of Lagos graduate was one of the 17 referees shortlisted across Africa and one of the 12 selected after an intensive one-week pre-tournament course.

A statement on the Confederation of African Football (CAF) on Monday confirmed Akintoye’s participation alongside other referees at the 2023 African Women’s Champions League.

It said Akintoye would be officiating alongside Salma Musaganda of Rwanda who was the first African woman referee to officiate at the men’s World Cup.

The News Agency of Nigeria (NAN) reports that Akintoye was badged as a FIFA Referee in 2021.

She has been at a few international competitions which include, the WAFU Women Champion’s League and the Aisha Buhari Tournament, among others.

(NAN)

The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has failed with his prediction.

The cleric had predicted the Premier League clash between Luton and Liverpool.

Shockingly, his prediction failed.

In a video that went viral on Saturday, a day before the game, the cleric said the Reds would claim a routine win at Kenilworth Road.

“Liverpool will beat Luton very well. Liverpool will beat them with more than two goals,” he said.

However, Liverpool needed a last-gasp equaliser to draw 1-1 with Luton.

Chong had given the hosts a lead late in the game before Luis Diaz came off the bench to rescue a point for Jurgen Klopp’s men.

Video:

Novak Djokovic had a really good week at the 2023 Paris Masters, winning the trophy, and he referred to a stomach virus as his biggest opposition when it came to himself on the court.

It was a brilliant week for Djokovic in Paris, but it was not a week without problems. He faced tough opposition in a lot of his matches and dealt with some stomach issues on top of all of that.

In the end, none of that matters as he leaves the French capital with the trophy after beating Grigor Dimitrov in the final. A particularly striking thing was his physical resilience despite all of these problems.

At 36, Djokovic isn't the youngest anymore, but he worked hard to be physically ready, and it worked out well for him as he outlasted all of them.

Yeah, it could be the case. I really put a lot of effort into preparing myself for this last stretch of the season. Spent three, four weeks of really working on the tennis court and of course on my fitness. You know, I'm feeling great in terms of my body.

Things went so well for Djokovic that he jokingly referred to a stomach virus as his biggest problem this entire week, and he's not entirely wrong. He knows how to win tennis matches; however, beating a stomach virus isn't that easy.

you know, it was this virus that was really the biggest opposition, so to say, this week in terms of me feeling well on the court. That was something that is kind of outstanding, you know, that is not something that I'm normally encountering.

He will need some of that Paris magic for Turin. The event is about a week away, which is good enough to recover from this and get ready for the event. He went undefeated at the event last year, so the expectations are high. They always are with Djokovic, though.

[ATP]

Real Madrid have released an official statement on claims of negotiations with PSG star Kylian Mbappe.

Off contract in June, Mbappe has been linked with a Bosman move to Real.

But amid reports of talks being well underway, Real have launched an official denial today.

The full release read:

“In view of the information recently issued and published by various media outlets, which speculate on alleged negotiations between the player Kylian Mbappé and our club, Real Madrid CF wishes to declare that this information is categorically false and that no negotiations of this type took place with a player belonging to PSG.”

[Newsguru]

City FM 105.1 is inviting you to a scheduled Zoom meeting.

Programme: CITY TALKS WITH REUBEN ABATI

Time: 12:00pm

Guest: Comrade Funmi Agnes Sessi
(CHAIRMAN NLC LAGOS STATE)

Topic: "Attack on NLC President and the right to protest"

Date: 4th November, 2023
                         
Join Zoom Meeting

Link: https://zoom.us/j/92877141732?pwd=VEJWb29OL2VVekZUTHRpdWYxK0xxZz09

Meeting ID: 928 7714 1732
Passcode: 600206

Inter Miami forward, Lionel Messi won this year’s Ballon d’Or award by 105 points, it has been revealed.

Messi polled 462 points in the voting, while Manchester City’s Erling Haaland had 357.

The organizers have published the final voting statistics, including how every country voted for the winner.

Kylian Mbappe, Kevin De Bruyne and Rodri finished with 270 points, 100 points and 57 points respectively.

Messi’s win is the first time a footballer outside Europe has won the prize.

The 36-year-old has also now taken the prize more than any player in history.

Following his impressive outing at the recently held 67th Ballon d’Or France Football award ceremony in Paris where he was rated as the 8th best player in the world, many Nigerians have endorsed Super Eagles striker, Victor Osimhen, to win the prestigious CAF Africa Player of the Year Award.

Interestingly, the Confederation of African Football (CAF) on Wednesday, November 1, nominated the dare-devil Napoli striker among 29 other players for the coveted award with Gift Orban, another Nigerian youngster with Genk, also nominated for the Young Player of the Year award.

Since 1999, when the legendary Kanu Nwankwo won his second Africa’s Best Player Award, no Nigerian has won the CAF Best Player title. Mikel Obi and Vincent Enyeama came the closest, finishing second and third in 2013 and 2014, respectively.

The awards, which celebrate outstanding club and national players throughout last year, will be hosted in Morocco on December 11.

Sadio Mane, the forward for Senegal and Al Nassr, won the coveted title in the men’s division last year, but he will have fierce competition from the Super Eagles’ forward, who had a stellar 2022–2023 season with Napoli.

Therefore, the massive support for Osimhen from the home front is not unfounded. The 24-year-old created history by becoming the first African to win the Serie A top scorer title in the 2022/2023 season.

After scoring 26 goals in Serie A (31 goals in 39 games across all competitions), the Napoli player became the first player from Africa to win both the Scudetto and the top scorer award in the same season.

Osimhen, a former Lille striker who was named the best scorer in Serie A last season, also assisted the Partenopei achieve their first-ever quarter-final appearance in the UEFA Champions League.

He had an incredible performance with the Super Eagles in the 2023 Africa Cup of Nations qualifiers, finishing as the series’ top scorer with 10 goals while also assisting in guaranteeing the Eagles’ berth in the continental championship game for the following year.

He became the first Nigerian football player to be shortlisted for the Ballon d’Or award in 24 years thanks to his exceptional performance in the 2022–2023 season. The last Nigerian player to be shortlisted for the honour was former Eagles captain Kanu in 1999.

While congratulating the Nigerian international for his exceptional achievements for club and country, Nigeria’s Minister of Sports, Senator John Enoh, acknowledged that winning the CAF award was next for the forward.

“The Ballon d’Or, a world-renowned accolade, recognises and celebrates the most outstanding football players across the globe. For Victor Osimhen to be ranked eighth among such elite company is a testament to his incredible dedication, skill and determination.

“Victor’s journey in football is far from over, and I believe he has the potential to achieve even greater heights in the coming years. We will continue to provide the necessary support to ensure that he and other athletes like him have the opportunity to reach their full potential. Next, we are backing him to win the CAF Men’s Best Player Award,” he said.

Ace sports journalist and Director of Sports, Mountain of Fire and Miracles Ministries, Godwin Enakhena, added, “If Osimhen is Africa’s best after finishing among the top 8 in the Ballon d’Or ranking, any reason why he shouldn’t win CAF Africa’s Best Player award?”

Former Eagles midfielder, John Ogu, like many Nigerians, believes Osimhen has done enough to put him ahead of his competitors for the award, and the midfielder, via X, sent a message to the organisers of the award.

“Dear @CAF_Online, I’m sure y’all saw the whole Ballon dor setting last night. This is exactly how we want such an award to be delivered and well organised for our star boy @victorosimhen9 as the Best player in Africa. Thank you in advance,” he wrote on X.

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In a chat with Trust Sports, Super Eagles Coordinator, Patrick Pascal, said it will be injustice if Osimhen is denied the award.

“Osimhen is the only African in FIFA’s top ten best players and that should automatically give him the superior edge over others in the CAF awards.

“It will be complete injustice if he is denied that after all he has achieved. Nigerians are rooting for him and expecting him to win,” he declared.

Another former international, Mutiu Adepoju, told Trust Sports that he is very optimistic that Osimhen will win the award.

“He deserves to win the award after all. I am very optimistic that he is going to win and Nigerians will be happy to see a fellow country man win the award after several years of not winning it.

“His potential win will bring a lot of pride to Nigerians. But if he doesn’t win, which to me is unlikely, it won’t be the end of the world but as I said earlier, I am very optimistic of his victory,” he declared.

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In the same vein, the FCT Football Association Chairman, Mouktar Mohammed, is backing Osimhen to win the award.

“I think he has done enough to win the Africa Player of the Year Award. He deserves it, especially after finishing 8th on the Ballon d’Or list.

“Osimhen was in fine form in the 2022/2023 season, as his 25 league goals helped Italian football royalty Napoli to their first Serie A title in 33 years.

“He pipped Lautaro Martinez of Inter Milan and AC Milan’s Rafael Leao to clinch the Best Striker in Serie A gong.

“Osimhen scored five times in six games for Napoli as they reached the quarter final stages of the UEFA Champions League,” he said.

Nigeria’s U17 women head coach, Bankole Olowookere also said he is solidly behind Osimhen winning the award also.

“This young man has done well for himself and he deserves to be honoured. We all know what he did for his club and how he was celebrated. This is a player who put his all for the national team. He has done well locally and internationally and winning this award will crown his efforts,” he said.

Even as the optimism among Nigerian football stakeholders is quite high, the FCT FA Chairman, Mohammed does not want anyone to throw caution to the win as he said it is not going to be a stroll in the park for the gangling Osimhen.

He reiterated that there were other factors that could count against him such as Nigeria’s failure to qualify for the World Cup last year.

“The World Cup tournament is seen as the biggest platform and Nigeria couldn’t qualify for the showpiece in Qatar.

“Osimhen’s greatest challenge may likely come from Morocco and Paris Saint-Germain’s Achraf Hakimi who won a title with his club and went all the way to the World Cup semi-finals with his country, which is massive.

“Then there is also Algeria’s Riyad Mahrez who won the treble with Manchester City, the English Premier League, the FA Cup and the UEFA Champions League.

“You also have to consider the sharp regional divide and vested interest. The Anglophone and Francophone dichotomy has always been in existence, so that is another factor from the political angle.

“But having said that, I still strongly believe that what Osimhen has achieved is incredible and he deserves to win it,” he noted.

Since 1991, only five Nigerians have won the prestigious award. The late Rashidi Yekini won it in 1993, Amuneke (1994), Nwankwo Kanu (1996, 1999) and Victor Ikpeba (1997).