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Breaking: Senate Approves President Tinubu’s $7.4 Billion And 100 Million Euros External Borrowing Plan For 2022-2024

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The Senate has given its nod to President Bola Tinubu’s request for the 2022-2024 external borrowing rolling plan, which amounts to $7.4 billion and 100 million euros. The approval follows the adoption of the report by the Senate Committee on Local and Foreign Debt during a plenary session….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

Presenting the report, Sen. Haruna Manu, the Vice Chairman of the Committee, emphasized the committee’s recognition of the genuine concerns raised by Nigerians regarding the nation’s borrowing activities’ level, sustainability, and serviceability over the past decade. He highlighted the significant impact of debt service figures, constituting over 30% of the nation’s annual budget expenditure, on the country’s revenue.

Manu explained that the National Assembly, facing a shortfall in annual revenue compared to the needs for infrastructural and human capital development, consistently passed deficit budgets, necessitating borrowing to cover the deficit. The borrowing request presented to the National Assembly was proposed to be sourced from various financial institutions.

The Vice Chairman noted that the projects outlined in the Ministries of Education, Agriculture, and Women Affairs were largely ongoing initiatives where external borrowed funds had been utilized in the past. These projects, he stated, have a substantial multiplier effect on stimulating economic growth through infrastructure development, job creation, poverty alleviation, and the promotion of commercial and engineering activities.

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“Hidden Truths Unveiled: Abdulsalami Exposes ‘Fishy’ Secrets Behind Abacha’s Final Hours”.

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In his new 264-page autobiography, Call of Duty, former Head of State General Abdulsalami Abubakar (retd.) recounts the suspicious circumstances surrounding the sudden death of General Sani Abacha on June 8, 1998.....KINDLY READ THE FULL STORY HERE▶

According to the book, which was unveiled at an event in Abuja attended by Vice President Kashim Shettima on behalf of President Bola Tinubu, the events of that day felt orchestrated. Abubakar describes how he and the late Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, were summoned to the Presidential Villa under the impression of a meeting, only to be mysteriously locked inside a waiting room for nearly an hour. He noted that his intuition repeatedly told him that “something was fishy”.

The truth only emerged after the then-Inspector-General of Police, Ibrahim Coomassie, opened the locked door and led them to the residence, where he finally informed them that Abacha had passed away.

Abubakar’s account highlights several key takeaways regarding the immediate aftermath:

  • Focus on Succession: Upon arriving at the residence, Abubakar observed that Abacha’s so-called “inner caucus”—which included figures like Maj. Hamza Al-Mustapha and Babagana Kingibe—appeared significantly more interested in securing a successor than in handling burial arrangements.

  • Tensions in the PRC: As the most senior military officer following the removal of Gen. Oladipo Diya, Abubakar chaired the subsequent Provisional Ruling Council (PRC) meeting. He noted that the meeting grew tense as members argued over appointing a new leader to avoid a power vacuum, a process which some members felt was prioritizing politics over Islamic burial rites.

  • The Kano Burial as a Decoy: Abubakar suggested that the trip to Kano for Abacha’s burial may have been a tactical move to keep key decision-makers away from Abuja while the “inner caucus” attempted to install their preferred candidate.

  • Rise to Leadership: Ultimately, a succession contest took place between senior officers, with some factions backing Lt.-Gen. Ishaya Bamaiyi and others looking toward Lt-General Useni. Abubakar, noting he was the senior officer in military affairs, stated that he won the resulting vote and subsequently became Nigeria’s 11th Head of State.

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Primary Fallout: New Disclosures Of Presidency’s Stunning Inaction Leaves Defeated APC Aspirants Fuming.

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A National Working Committee (NWC) member of the All Progressives Congress (APC) has explicitly denied claims that President Bola Tinubu interfered in the party’s recent primary disputes. The official clarified that neither the President nor any representative from the Presidency reached out to national party leaders regarding a potential review of the primary results.....KINDLY READ THE FULL STORY HERE▶

  • No Presidential Intervention: The source stated that if the President intended to influence the outcome for his own interests, he would have done so prior to the primaries.

  • Primary Results Finalized: Regarding the controversies in Lagos State, the official confirmed that the results are secure, no changes will be made, and the candidates’ names are prepared for submission to the Independent National Electoral Commission (INEC) portal.

  • Petitions Dismissed: The NWC member noted that less than two percent of the petitions filed by dissatisfied aspirants were successful, effectively rendering the original primary results final.

  • Official Response: When approached for comment, APC National Secretary Ajibola Basiru declined to discuss the matter, citing that it remains an internal party affair.

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Delta Power Showdown: Ned Nwoko Launches Explosive Challenge Against Okowa’s APC Senatorial Ticket.

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Delta North Senatorial District representative, Ned Nwoko, has formally contested the All Progressives Congress (APC) primary results that led to the victory of former Delta State governor, Ifeanyi Okowa.....KINDLY READ THE FULL STORY HERE▶

  • Contested Membership Status: Reports indicate that Nwoko’s petition centers on the allegation that Okowa failed to formally resign from the Peoples Democratic Party (PDP) before joining the APC.

  • Context of Defection: Ifeanyi Okowa, along with Delta State Governor Sheriff Oborevwori, joined the APC on April 23.

Broader Internal Challenges

  • Rivers State Contention: Similar disputes have emerged in Rivers State, where aspirants are challenging the candidacy of Kingsley Chinda, the current Minority Leader of the House of Representatives.

  • Party Stance: APC officials have dismissed these concerns, asserting that inclusion in the party register is sufficient evidence of membership.

  • Internal Authority: Emphasizing that party membership is an internal affair, a source noted that the APC alone holds the authority to determine its members, stating that defectors are not required to publicize their specific registration dates.

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