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Professor Usman Yusuf, former Executive Secretary, National Health Insurance Scheme, NHIS, on Saturday, said he is surprised the South Eastern part of the country has remained quiet amid the worsening economic hardship facing the country.
This is even as he urged the President to buy food, flood the market and feed the people before things get too late.
Yusuf made this known on Saturday while fielding questions on Arise Television’s Morning Show programme.
DAILY POST reports that there have been agitations against the increasing hunger in some parts of the country, most of them from the south west and northern part of the country.
However, Yusuf found it surprising that the South East has remained calm.
He said: “I honestly don’t know why the South East is quiet, uncharacteristically quiet. But the President needs to find out. The North is where I know I live; even my heritage is. The silence in the North is more lethal than anywhere else in the country. And the President needs to listen to that.
“The silence in the North, from the people of the North in spite of the suffering people are going through, is more lethal than people coming out.
“We are going into the month of Ramadan, people are going to pray. We ask the President to buy food, flood the market and feed the people before things get too late.
“The whole country is suffering. There’s hunger in the land. We hope you listen. Don’t listen to your advisers. Bring a whole lot of money for food, don’t wait for the governors.”
[DailyPost]
Amajor security raid in Rivers state spearheaded by the police has reportedly led to the killing of the notorious cult leader, Gift Okpara, aka 2Baba, the prime suspect in the brutal murder of a former Divisional Police Officer, SP Bako Angbashim.
The police and other security agencies were said to have coordinated a land and aerial raid simultaneously at the identified hideout of the Iceland cult leader and his gang in Idu-Ekpeye in Ahoada East local government area of the state on Saturday afternoon with 2Baba feared dead after the operation.
Angbashim was ambushed and captured by 2Baba’s gang in Odiemudie community, Ahoada East LGA of the State in September 2023.
The DPO was taken into the forest where he was killed and his body dismembered and filmed by the cultists.
A senior police source, who spoke in confidence, disclosed that 2Baba was hit many times during the raid.
He said: “2Baba was hit severally with bullets alongside some of his loyalists.
“2Baba fell flat on the ground, but some of his boys quickly took him away. The police is still moving in to get his corpse.”
Another source, who identified himself as Obi, said he saw almost 15 vehicles and an Armored Personnel Carrier (APC) during the raid.
Though there was no official confirmation about the killing of 2Baba, the entire communities in Ahoada, were said to be thrown into jubilation following reports that the notorious cult leader was feared dead.
The indigens were particularly heaped praises on the state Commissioner of Police CP. Olatunji Disu, for his relentless efforts to stop terrorism in the area.
When contacted spokesperson of the State Police Command, Grace Iringe-Koko promised to get a feedback on the development.
Details later...
[TheNation]
A Professor of Law at the University of Nigeria, Nsukka, Joy Ezeilo, has lamented the depreciation of her salary’s purchasing power coupled with inflation, stating that it costs her up to one-fifth of her salary to buy water for her compound monthly.
Ezeilo revealed this on her X handle on Saturday, adding that the N1m proposed minimum wage by the Nigeria Labour Congress “is not a laughing matter to be dismissed by wave of hand.”
She wrote, “The fast depreciating purchasing power of my hard-earned salary, the devalued Naira, and the creeping inflation: I just discovered by purchasing water today that my monthly salary can only pay for a limited quantity of water supply.
“I spent N40,000 for a water tanker one trip load (about 2,800 gallons) this evening in Enugu.
“Talk about price fixing. We bought previously the first week of February for N35,000. Of course, the driver said the cost of diesel drives the price. The ultimate buyer bears the brunt.
“We need at least two tankers for one month at N80,000, which would have taken one-fifth of my professorial cadre salary in a federal university.
“At this rate, just water without food, electricity, transportation, generator fueling, house rent, school fees, health care, etc., one can see that the N1m being proposed as minimum wage by the Labour Union is not a laughing matter to be dismissed by wave of hand.
“It increasingly appears either realistic or may need to be more.
“Which way, Nigeria? I can only hum Sonny Okosun’s (1984 – Which Way Nigeria) and Majek Fashek’s (Send Down the Rain!) songs as I silently pray for reprieve and an urgent economic solution so Nigerians can breathe well.”
PUNCH Online had reported on February 10 that Ezeilo lamented how she would need to save five months of her salary as a Professor of Law on the last professional step to buy a return ticket to a West African country.
She stated this while expressing her dream of watching the final of the African Cup of Nations live in Cote D’Ivoire but was shocked after her travel agent of over 20 years told her the price of the ticket was estimated at over N2.1m.
[Punch]
Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited to “promptly account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues.”
SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.
SERAP urged Mr Kyari “to name and shame those responsible for the disappeared oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies, as provided for under paragraph 3112(ii) of the Financial Regulations 2009, and recommended by the Auditor-General.”
SERAP also urged him “to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account without further delay.”
In the letter dated 17 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “The missing oil revenues have further damaged the already precarious economy in the country and contributed to very high levels of deficit spending by the government.”
SERAP said, “Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”
According to SERAP, “the Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing oil revenues.”
The letter, read in part: “The alleged missing oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability.”
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.”
“Had the NNPCL and its subsidiaries accounted for and remitted the disappeared public funds into the Federation Account, it is likely that more funds would have been allocated to the fulfillment of economic and social rights, such as increased spending on public goods and services.”
“The missing oil revenues have also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of cost of living crisis in the country.”
“Explaining the whereabouts of the missing public funds, naming and shaming those suspected to be responsible and ensuring that suspected perpetrators are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.”
“Nigerians have the right to know the whereabouts of the disappeared oil money. Ensuring transparency and accountability in the management of oil revenues would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.”
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion oil revenues into the Federation Account.”
“The Auditor-General fears that the money may have been diverted into private pockets, denying the government the funding needed to carry out its activities.”
“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).”
“The NNPCL has failed to account for the missing public funds. The Auditor-General wants the money recovered and remitted into the Federation Account.”
“The NNPCL also failed to remit USD$19,774,488.15 collected as government revenue into the Federation Account. The Auditor-General wants the NNPCL to account for the money, recover and remit it into the Federation Account, and to hand over those suspected to be involved to the ICPC and the EFCC.”
“The Nigerian Petroleum Development Company (NPDC) Ltd also reportedly failed to account for USD$2,021,411,877.47 and N13,313,565,786.49 of royalties collected from crude oil and gas sales and gas flare.”
“The Auditor-General wants the public funds fully recovered and remitted into the Federation Account and for those suspected to be responsible for the missing public funds to be handed over to the ICPC and the EFCC.”
“These grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”
“The allegations have undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.”
“SERAP is concerned that despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.”
“Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”
“SERAP notes that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.”
“Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.”
“Paragraph 3112(ii) of the he Financial Regulations 2009 provides that, ‘Where a public officer fails to account for government revenue, such officer shall be surcharged for the full amount involved and such officer shall be handled over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).’”
“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected.”
[Vanguard]
Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board.
Rabiu made the disclosure in an internal memo signed on Sunday in Lagos by Mr Mohammed Wali, BUA’s Head of Human Resources.
The memo quoted BUA chairman as saying that the increment was to mitigate the impact of the economic hardship currently being faced in the country.
He said the salary increment would cover both permanent/regular and non-permanent staff with effect from Feb. 1, 2024.
“Sequel to the above development, the Human Resources and Finance departments are processing the increase to ensure that it is captured in the February 2024 payroll.
“It is hoped that with this magnanimous gesture, we will be more committed to our duties and put in our very best to justify the confidence reposed in us,” he said.
The News Agency of Nigeria (NAN) reports that due to the current economic conditions in the country, negotiations are ongoing between the organised labour and the government, for a new minimum wage.
NAN
[PRESS RELEASE] Tinubu's Administration Falls Short in Addressing Currency Fluctuation and Poverty Crises
AdminAt a meeting called at his instance on Thursday to address the Foreign Exchange crisis and the problem of economic downturn, among others, Bola Tinubu failed, yet again, to showcase any concrete policy steps that his administration is taking to contain the crises of currency fluctuation and poverty that face the country.
Rather, he told the country and experts who have been offering ideas on how to resolve the crisis that he and his team should not be distracted and allowed time to continue cooking their cocktail that has brought untold hardship to the people of Nigeria.
I don't agree with that.
The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when, clearly, the government has demonstrated sufficient poverty of ideas to redeem the situation.
If the government will not hold on to their usual hubris, there are ways that the country can walk out of the current crisis.
After a careful assessment of the state of our economy at the twilights of the last administration, I knew full well that the economy of the country was heading for the ditch and came up with a number of policy prescriptions that would rescue the country from getting into the mess that we are currently in.
Those ideas, encapsulated in my policy document titled: My Covenant With Nigerians made the following prescriptions:
1. I had signed on to a commitment to reform the operation of the foreign exchange market. Specifically, there was a commitment to eliminate multiple exchange rate windows. The system only served to enrich opportunists, rent-seekers, middlemen, arbitrageurs, and fraudsters.
2. A fixed exchange rate system would be out of the question. First, it would not be in line with our philosophy of running an open, private sector friendly economy. Secondly, operating a successful fixed-exchange rate system would require sufficient FX reserves to defend the domestic currency at all times. But as is well known, Nigeria’s major challenge is the persistent FX illiquidity occasioned by limited foreign exchange inflows to the country. Without sufficient FX reserves, confidence in the Nigerian economy will remain low, and Naira will remain under pressure. The economy will have no firepower to support its currency. Besides, a fixed-exchange rate system is akin to running a subsidy regime!
3. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option. In simple terms, in such a system, the Naira may fluctuate daily, but the CBN will step in to control and stabilize its value. Such control will be exercised judiciously and responsibly, especially to curve speculative activities.
4. Why control, you may ask.
(i). Nigeria has insufficient, unstable, and precarious foreign reserves to support a free-floating rate regime. Nigeria’s reserves did not have enough foreign exchange that can be sold freely at fair market prices during crises.
(ii). Nigeria is not earning enough US$ from its sales of crude oil because its production of oil has been declining. And,
(iii). Nigeria is not attracting foreign investment in appreciable quantities.
These are enough reasons for Nigeria to seek to have a greater control of the market, at least in the short to medium term when convergence is expected to be achieved.
Tinubu’s new policy FX management policy was hurriedly put together without proper plans and consultations with stakeholders. The government failed to anticipate or downplayed the potential and real negative consequences of its actions.
The Government did not allow the CBN the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.
I firmly believe that if and when the Government is ready to open itself to sound counsels, as well as control internal bleedings occasioned by corruption and poorly negotiated foreign loans, the Nigerian economy would begin to find a footing again.
Atiku Abubakar
Vice President of Nigeria, 1999-2007.
18th February, 2024.
[PRESS STATEMENT] Insecurity: Let’s migrate from Constabulary Police to State Police - Okechukwu
AdminAs stakeholders in the country seek for a solution to the frightening insecurity in the country, a foundation member of the All Progressive Congress (APC), Osita Okechukwu has advocated the establishment of Constabulary Police Option in line with Sections 105 to 109 of the Nigeria Police Act 2020.
Okechukwu warned that state police could be abused by state governors, the same way they breached other democratic institutions, such as the judiciary, legislature and the local government system.
Speaking to journalists on Sunday on the decision of President Tinubu and State Governors to establish State Police, the immediate past Director General of Voice of Nigeria (VON) opined that it is far better to progressively migrate from Special Constabulary of Nigeria Police Force (NPF) to State Police, to avoid relying on decision taken amidst palpable grief.
He implored all to take time and peruse the NPF Act 2020 so as to examine the pure kernels and appreciate the content relevance of Constabulary Police and the imperative to overhaul the NPF in addressing the same gruesome insecurity we out of grief wittingly or unwittingly assume that State Police is one size which fits all.
Okechukwu pointed out that Special Constabulary is a Silver Bullet which will resolve the intense paradox of public paranoia against the NPF which failed to secure us and our Emperor Governors that have scant regard to the rule of law.
He said, " I agree that there is horrible and terrible grief in the land and that NPF itself needs rejig hence the imperative of urgent solution; however State Police in my considered view is politics of grievance, which outcome maybe be worse than the solution envisaged given the anti-democratic antecedents of the custodians of the sub-national units and poor financial status of some states.
“We all contributed in no small measure in escalating the insecurity and gross inequality in the first place and the solution cannot be carving out Kingdoms for Emperors. In sum, my recommendation is that the establishment of Special Constabulary, in line with Sections 105 to 109 of the Nigeria Police Act 2020; is a better solution and that of using one stone to kill two birds at once.” Okechukwu submitted.
All we need as a matter of urgent national importance at this hectic and trying period is well trained, and well equipped Special Constabulary with sophisticated arsenal to contain kidnappers, terrorists and insurgents, without authoritarian antics. This is especially when they will be recruited from indigenes of the given state in collaboration with the governors, albeit local community based with tiny Federal strings for necessary moderation.
“Whereas, one understood the metastasis of grief, helplessness, despair, despondency, and the sordid scenario of a country overwhelmed by insecurity; it will be less strategic in the midst of confusion to hastily throw away the baby and the bathe water.”
“For when careful consideration gazetted that majority of our dear governors are more or less akin to Emperors, who are constantly in the breach of fine democratic tenets and civil liberties, in addendum have stymied our local councils and have blatantly mangled State Judiciary and State Legislatures into rubber stamps; my dear countrymen, does it in all intents and purposes make altruistic sense to further empower Emperors?” Okechukwu quipped.
He therefore appeals for understanding as progressive migration from Special Constabulary to State Police by then our tempers must have calmed down and we all must have learnt to obey the 1999 Constitution of the Federal Republic of Nigeria.
The Lagos state government has reiterated plans to relocate the Computer Village from Ikeja to the ICT Park in Katangowa, Agbado/Oke-Odo local council development area.
Olajide Babatunde, special adviser to Babajide Sanwo-Olu, governor of Lagos, on E-GIS and planning matters, spoke on Saturday while briefing journalists.
“We are trying to reorganise all our markets. I will give you an example. In Ikeja, we have a computer village. The computer village is being relocated,” he said.
“We are relocating them to Katangowa. It is not just the computer village alone. Other activities will happen in the Katangowa market.
“In the next coming weeks, you will see government effort on Kantangora. So, we are moving these people who seem to be on the road in Ikeja also obstructing traffic into a proper market big enough with all the services, including creche for their children, schools, playgrounds, mosques, churches, accommodation and hotel facilities, storage rooms, warehouses.
“We are trying to do things in a proper way. We are working on all of these things to make sure that we regenerate, redevelop, renovate, conserve.
“Anything that we need to do in terms of the terminologies that we have in urban development will be put to play in Lagos in a way that you are going to have a greater Lagos.”
In April 2017, the Lagos government had said the Computer Village would be moved before the end of that year.
However, about seven years later, the plan has yet to materialise.
THERE was confusion in the camp of the All Progressives Congress (APC) in Edo State on Saturday as two winners emerged from the governorship primary held by the party across the 192 wards in the state.
Sunday Tribune gathered that prior to the primary held to produce the party’s standard-bearer for the September 21, 2024 governorship election in the state, there had been a palpable tension within the party following allegations and counter allegations that the immediate past governor of the state and former National Chairman of the party, Comrade Adams Oshimhole, was bent on imposing a candidate on the party.
The tension was said to have culminated in the last-minute withdrawal of two frontline aspirants, Ehizuwa Johnson Agbonayinma, and Pastor Osagie Ize-Iyamu, from the governorship race.
But the tension became heightened on Saturday as two candidates: Honourable Dennis Idahosa and Senator Monday Okpebholo emerged as parallel winners from the election.
While the Electoral Committee Chairman and Imo State governor, Hope Uzodimma, declared Idahosa as the winner of the primary election, Dr Stanley Ugbuaja, the state Returning Officer announced Senator Monday Okpebholo as the party candidate.
Announcing the results earlier at Protea Hotel in Benin, Governor Uzodimma said that Idahosa pulled a total of 4,483 votes to defeat his other aspirants.
He gave the breakdown of the results as follows: Dr Blessing Agbomere (50 votes), General Charles Airhiavbere (162 votes), Colonel David Imuse (400 votes), and Senator Monday Okpebholo (200 votes).
Others are Dr Ernest Afolabi Umakhihe (02 votes), Mr Gideon Ikhine (700 votes), Honourable Clem Agba (100 votes), and Mr Lucky Imasuen (02 votes).
According to Uzodimma, the party direct primary election was free, fair and credible, adding that Honourable Dennis Idahosa was declared as winner having scored the highest lawful votes cast.
However, in a dramatic twist, Ugboaje, who alleged that he was brutalised by thugs suspected to have been brought to the collation center by a certain aspirant, announced Okpebholo as winner of the primary at the residence of Pastor Osagie Ize-Iyamu.
He said Okpebholo scored 12,145 votes, while Idahosa scored 5,536 votes to emerge second.
“I hereby certified that Monday Okpebholo, having scored the highest votes, is declared winner and duly returned as APC candidate for the election,” Ugboaje said
Earlier, hoodlums suspected to be thugs stormed the result collation centre situated at Lushville Hotel and Suite and disrupted the process.
The hoodlums manhandled several journalists, including NTA cameraman, and Arise Television reporters, just as they also scattered their equipment.
Reacting to the election, one of the candidates, Honourable Agba, however, condemned the result, saying he won the exercise based on the authentic turnout of party members.
In a statement he issued shortly after the poll, Agba said: “To my good people of Edo State and esteemed members of our great party, the All Progressives Congress, I want to thank you for your loyalty and support for my candidature.
“Unfortunately, what we have all witnessed in the APC party primaries in Edo State on Saturday falls below the minimum standard of democratic elections that is universally acceptable.
“I believe strongly that thousands of loyal party members were disenfranchised. Based on the authentic turnout, we clinched victory. The result so far announced is a ridicule and undermines the principles of democracy and fair play. The votes of the people did not count, the processes of election were compromised and the strength and unity of our party were greatly undermined.
“While I remain a loyal party member, I will not be part of a process that robs the mass of our loyal party members of their inalienable right to vote. What has taken place in Edo State negates all that even our political leaders have taught us over the years about democracy, the will of the people, one man, one vote and justice and fair play.
“We must come together to challenge this great injustice and restore the integrity and strength of our great party. Such Impunity that the people have been subjected to should have no place in our great party. We will proceed speedily within the guidelines laid down by our party to seek for justice,” he stated.
The Nigerian Government has warned Fast-Moving Consumer Goods (FMCG) outlets nationwide, threatening to shut them down due to deceptive pricing practices amidst increasing economic hardship.
Naija News reports that the Acting Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Adamu Abdullahi, issued a statement on Saturday warning against the rising cost of food.
Abdullahi emphasized that businesses must provide clear and transparent pricing information to enable consumers to make informed purchasing decisions.
The FCCPC reaffirmed its commitment to combating exploitative practices, highlighting penalties outlined in the FCCPA for violations.
The commission encouraged businesses to adhere to fair pricing practices to ensure consumer protection and a healthy market environment.
The statement reads, “The Commission is aware that similar practices may occur at other FCMG outlets nationwide. These outlets are advised to cease such practices immediately to avoid consequences.
“Businesses are expected to display transparent pricing information to empower consumers to make informed purchasing decisions, especially during challenging economic times.
“The FCCPC remains committed to combating all forms of exploitative or misleading practices that undermine consumer rights. The FCCPA protects consumer rights and prohibits deceptive business practices. Section 115 outlines potential penalties for violations, including fines for organisations and imprisonment for directors.
“The FCCPC encourages all businesses to adhere to fair and transparent pricing practices to ensure consumer protection and a healthy market environment.”
Naija News recalls that the Commission had, on Friday, stormed Sahad Stores Limited, a well-known establishment situated in Area 11, Garki, Abuja, and sealed the building off due to various allegations, including stockpiling, extortion, lack of transparency, and misleading pricing practices.
More...
Africa’s development prospects require 30 to 40year loans, not short-term loans – Jeffrey Sachs
AdminRenowned economist and policy analyst Professor Jeffrey Sachs has stated that short-term loans with tenures ranging from 7 to 10 years and high-interest rates pose liquidity problems for Africa, as they fail to consider the continent’s long-term growth potential.
He said while speaking in an interview with CNBC Africa on the sidelines of the Africa Union summit in Addis Ababa, Ethiopia where he faulted international lenders and credit ratings agencies for having a narrow mechanical perspective of the continent.
According to him, the strategy Africa should adopt is long term growth for long term development stating that the continent can growth by at least 7% for the next 40years.
- He stated, “while I want to raise capital for sovereigns, I don’t want to do it on 7yr or 9yr loans. Africa’s development prospects are enormously bright, but they require 25yrs, 30yrs or 40yrs loan. Africa does not have the liquidity in the sovereign debt in the international market, so when rollovers come, there is always a crisis. Not for deep reasons but because of the lack of the institutional framework that is adequate at the international level.”
He further stated that countries, credit rating agencies, international lenders should key into the right strategy which is long-term borrowing for long term growth.
More Insights
- In the past few years, a few African countries have defaulted on their foreign debt mainly due to lingering growth issues from the covid-19 pandemic and the effects of their war in Ukraine on their local currencies and inflation levels.
- The hawkish monetary policy position of central banks across Europe and the United States is also responsible for the elevated interest rates for lending to African countries and short tenure stance of the lenders.
- Africa’s huge young population requires substantial investment in infrastructure- transport, communication, education and housing. These can only be built through properly though-out financing.
- Governments across the continent have not been that successful in locally raising the capital needed and have turned to foreign lenders with rate of returns occupying their minds rather the development of the continent.
[Nairametrics]
Thousands of demonstrators yesterday gathered in Senegal’s capital, Dakar, demanding swift presidential elections.
It comes after the country’s top court blocked President Macky Sall’s attempt to postpone the election, originally scheduled for this month.
Mr Sall’s last minute decree, backed by parliament, had triggered a political crisis in Senegal, once regarded as a bastion of democracy in West Africa.
Yesterday, opposition supporters held signs demanding a “Free Senegal”.
It was the first rally allowed by authorities since Mr Sall’s announcement two weeks ago.
“Today’s watchword is mobilisation,” said presidential candidate Malick Gakou on the march.
He told the AFP news agency there was “no room for error any longer” and elections must be organised in March in order for the handover of power between President Sall and his successor on 2 April – when the president’s second term in office is set to expire.
Protesters in Dakar wore T-shirts emblazoned with the words “Protect our election” – named after the collective organisation of religious and civil groups opposed to Mr Sall’s controversial decree.
[BBC]
No fewer than nine persons were reportedly killed by bandits in Kwasam community, Kauru LGA and Gwada community, Igabi LGA both in Kaduna State.
The bandits also reportedly abducted 35 others including a retired Director of Central Bank of Nigeria (CBN), his brother and the brother’s wife, just as nine people were injured during the attacks.
The retired CBN Director was identified as Zakariya Markus.
The breakdown showed that six persons were killed, five abducted and two injured in Kauru LGA, while three persons were killed, seven injured and 30 others kidnapped in Igabi LGA of the state.
According to sources, the incident occurred penultimate Friday when bandits invaded the community a few minutes after 10 pm.
Sources said the bandits picked two people who, at gun point, led them to the residence of the retired CBN official and abducted him.
A source said: “Bandits moved into his family house, abducted his brother and the brother’s wife.
“Residents rushed out in an attempt to rescue the victims, but the bandits fired at them, killing six and injuring two.
“Those killed include Danmasani Gwaska, Mrs. Giwa John, Kapishi Barmu, Ganya Ubangida, Shigama Salisu and Gani Magawata.
“Those kidnapped include Mr. Zakariya Markus (retired CBN director), Mr. Monday Markus (younger brother of the retired CBN director), Monday Markus’ wife, Mr. Alhamdu Makeri’s son and Baban Fati of Kauru.”
Meanwhile, Kaduna State Governor, Uba Sani, has pleaded for aggressive military operations against bandits across the state, following the attacks.
The governor also sent his condolences to the families that lost their loved ones.
Governor Uba Sani spoke through the Overseeing Commissioner, Ministry of Internal Security and Home Affairs, Samuel Aruwan, at Gwada and Kerawa villages in Igabi LGA, during an on-the-spot assessment of the security situation in the area, in the company of the Garrison Commander, One Division Nigerian Army, Brig-Gen. Muhammad Kana, alongside other military commanders and security forces working in the general areas.
The Governors’s representative said: “We are here on behalf of Governor Uba Sani to first of all condole with you over the lives lost in Kerawa and Sabon Birni Wards in Igabi LGA and also Kwassam, Kurera and Kan Makama communities in Kauru LGA.
“May Almighty God grant the deceased eternal rest and grant speedy recovery to the injured.
“I want to assure you that we are also here for an assessment of the security situation, and as you can see, troops are presently carrying out operations in these locations, to which you have attested.
“The Governor of Kaduna State is not relenting in his efforts, and he is also working towards sustained aggressive military operations in the frontline locations and emerging fronts like Kauru LGA.
“The delegation had meetings with traditional leaders, led by the Acting District Head of Sabon Birni, Alhaji Ahmed Aliyu, as well as religious and community leaders drawn from Dunki, Gwada, Bina, Maraci, Tami, Karshi and Kerawa, where issues critical to the improvement of the security situation were discussed.”
The team is expected to visit, Kajuru and Kauru local government areas.
- Uzodinma announces Idahosa; Okpebholo declared winner at Ize-Iyamu’s residence
- I’m the authentic winner, says Agba •Only Uzodinma-led committee can announce results – Morka
Confusion erupted yesterday in the Edo State chapter of the All Progressives Congress (APC) following the declaration of House of Representatives member Dennis Idahosa as winner of the party’s governorship primary.
Chairman of the Primary Election Committee and Imo State Governor, Hope Uzodimma, declared Idahosa winner at Protea Hotel, Government Reservation Area (GRA), Benin at the end of the collation of results from the 18 local government areas of the state.
The result was however disputed by Senator Monday Okpebholo (Edo Central) and the immediate past Minister of State for Budget and National Planning, Prince Clem Agba, both of who said they won the primary election.
Idahosa, who currently represents Ovia constituency in the Green Chamber of the National Assembly, was credited with 40,453 votes.
Senator Monday Okpebholo had 100 votes.
Details of the result as announced by Uzodimma are as follows: Blessing Agbomhere – 50 votes, Maj.Gen. Charles Airhiavbere (rtd.) – 162; Prof. Oserheimen Osunbor – 180; Col. David Imuse (rtd.) – 400; Dr. Ernest Afolabi Umakhihe – 02; Gideon Ikhine – 700; Pastor Osagie Ize-Iyamu – 02; Anamero Dekeri – 230; Prince Clem Agba – 100 and Chief Lucky Imasuen – 02.
Uzodimma described the primary conducted by his committee as the authentic one.
He said it was peaceful in the state’s 192 wards.
However, armed thugs invaded Lushville Hotel and Suites, Gapiona Avenue, GRA, Benin, the initial collation centre at about 2.52 pm, sparking pandemonium.
The collation officers were on break when the thugs struck.
The State Collation Officer, Dr. Stanley Ughoajah, halted the live transmission of the proceeding by some national television stations.
Okpekholo, at the time of the invasion, was leading Idahosa in six of the 18 local government areas already collated.
Okpekholo was ahead in Ikpoba/Okha, Esan Southeast, Oredo, Esan West, Owan West and Esan Central, while Idahosa led in Akoko-Edo LGA and his Ovia Southwest LGA.
Journalists who had gathered to cover the process were injured and their equipment destroyed.
Party officials and other stakeholders were similarly attacked and the highbrow hotel’s facilities damaged.
The many policemen and other security operatives at the venue appeared overwhelmed by the turn of events.
Officials of the Independent National Electoral Commission (INEC) were present at both collation centres.
As Uzodimma was rounding off the declaration of the results, Pastor Osagie Ize-Iyamu, who had withdrawn from the race on Friday, invited reporters to his residence in GRA, Benin, where Okpebholo was declared winner of the parallel election by Dr. Stanley Ugboajah, the Collation Officer.
Okpebholo, according to Ugboajah, received 12,145 votes and Idahosa 5,536 votes.
Signs of trouble had emerged earlier in the day when two more aspirants joined Ize-Iyamu in withdrawing from the primary election.
First to throw in the towel yesterday was a former deputy governor of the state, Chief Lucky Imasuen and later Dr. Ernest Umakhihe.
Imasuen in a letter addressed to his supporters said his decision to withdraw was in “the interest of peace and unity of our great party,” and because “members of our National Working Committee (NWC), in their wisdom, have expressed their preference for zoning the governorship position to Edo Central Senatorial District.”
He pledged to support “whoever emerges as our candidate in the primary election.”
Soon after pulling out of the race, Umakhihe declared support for “the choice of the party,” Idahosa.
Umakhihe, a retired federal permanent secretary, Edo North Senatorial District, said: “It has been a worthwhile journey of our resolve to make a difference in the affairs of our dear Edo State. However, following my latest interaction with the party’s leadership, I will not be contesting the primaries.
“Let us give our support to Hon. Dennis Idahosa, who is the choice of the party. There are greater days ahead.”
Agba: Based on the authentic turnout, we clinched victory
Agba, who also laid claim to victory, thanked his supporters for their “loyalty and support for my candidature.”
He said: “To my good people of Edo State and esteemed members of our great party, the All Progressives Congress, I want to thank you for your loyalty and support for my candidature.
“Unfortunately, what we have all witnessed in the APC party primaries in Edo State on Saturday February 17th, 2024 falls below the minimum standard of democratic elections that is universally acceptable.
“I believe strongly that thousands of loyal party members were disenfrachished. Based on the authentic turnout, we clinched victory.
“The result so far announced is a ridicule and undermines the principles of democracy and fair play. The votes of the people did not count, the processes of election were compromised and the strength and unity of our party greatly undermined.
“While I remain a loyal party member, I will not be part of a process that robs the mass of our loyal party members of their inalienable right to vote.
“What has taken place in Edo State negates all that even our political leaders have taught us over the years about democracy, the will of the people, one man, one vote and justice and fair play.
“We must come together to challenge this great injustice and restore the integrity and strength of our great party.
“Such impunity that the people have been subjected to should have no place in our great party.
“We will proceed speedily within the guidelines laid down by our party to seek for justice.
“I want to thank everyone that has supported me for your unwavering commitment and belief in our vision and qualification. Your passion and dedication have been the driving force behind our campaign, and I am truly grateful.
“As we move forward, remember that our journey is far from over. We will continue to fight for a better future for Edo State, a future where every citizen can thrive and succeed.
“Our resolve is unbreakable, and our commitment unwavering. We will not rest until justice is served and the people’s will is honoured.
“Thank you, and let us march forward with courage and conviction.”
Edo will vote massively for me, says Idahosa
Idahosa, who was accompanied by his wife, Osaretin, in his acceptance speech at Protea Hotel, Benin, expressed gratitude to President Bola Tinubu and “my leader, Senator Adams Aliyu Oshiomhole” and the people, especially his constituents in for “giving me the mandate in 2019 and 2023, which gave me the opportunity to shine in the National Assembly. “
Continuing, he said:”There is no Peoples Democratic Party (PDP) in Edo State. The September 21, 2024 governorship election will be between APC and Labour Party (LP).
“In LP, 80 per cent of the members will align with the younger generation. Obedient Movement is between the age bracket of 18 and 45. I happen to be in that constituency (age bracket). Edo residents will massively vote for me.”
Only Uzodinma can announce primary result – APC
The APC urged party members and the public to disregard unofficial results for the Edo State governorship primary.
The party maintained that only the Governor Hope Uzodinma-led Primary Election Committee is authorised to undertake final collation and announce the final results.
National Publicity Secretary, Felix Morka, in a statement on Saturday dissociated the party from a live broadcast on national television and online platforms announcing results.
The statement reads: “The attention of the National Working Committee of our great Party has been drawn to a live broadcast on major national television stations and online news outlets of results of the ongoing Edo State APC Governorship Primary Election by some unauthorized persons
“We wish to state categorically that only the Governor Hope Uzodinma-led Edo State APC Governorship Primary Election Committee is duly authorised to undertake the final collation and announcement of results of the Primary Election in the State.
“We urge all Party members, officials in the State, and the general public to disregard the said announcement of results by these unauthorized persons.”
[TheNation]