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Nigeria is in huge financial trouble’, Obaseki laments, says FG printed N60bn to share in March

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Obaseki wonders where the Federal Government would find money to share in Abuja when Shell is pulling out of Nigeria and Chevron investing in alternative fuel.

Edo state Governor, Godwin Obaseki. [Pulse]

Governor Godwin Obaseki of Edo State has decried the state of Nigeria’s economy, saying the Federal Government had to print N60bn in March to support federal allocation to states.

The governor expressed worry on the rising debts of the country, saying Nigeria is in ‘huge financial trouble.’

When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share”

“This April, we will go to Abuja and share.

By the end of this year, our total borrowings are going to be within N15-N16 trillion”, he said.
The governor, who condemned the country’s over-dependence on crude oil lamented that Nigeria’s economy has changed, adding that the current price of crude oil is only a mirage.
Oaseki said, “Nigeria has changed. The economy of Nigeria is not the same again, whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil everyday.
“So we have run a very strange economy and strange presidential system where the local, state and federal governments, at the end of the month, go and earn salaries. We are the only country in the world that does that.
“Everywhere else, the government relies on the people to produce taxes and that is what they use to run the local government, state and the federation.

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“But with the way we run Nigeria, the country can go to sleep. At the end of the month, we just go to Abuja, collect money and we come back to spend. We are in trouble, huge financial trouble.
“The current price of crude oil is only a mirage. The major oil companies who are the ones producing are no longer investing much in oil.
The governor wondered where the Federal Government would find money to share in Abuja when Shell is pulling out of Nigeria and Chevron investing in alternative fuel.

 

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Obasanjo condemns call for Nigeria’s disintegration

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Former President Olusegun Obasanjo on Wednesday described calls for the disintegration of Nigeria as unmindful and insensitive to the plight of the minority groups in the country.

Obasanjo made the observation when he received the Tiv Professional Group (TPG) from Benue State, who paid him a courtesy visit in Abeokuta.

The former president recalled a discussion between him and “a military friend”  who, according to him, has described major tribes in the country as selfish and not sufficiently caring for the minority groups.

Obasanjo, who aligned with his friend’s opinion, expressed worry over what would become of the minority groups if the major tribes decided to secede and begin to operate as separate countries.

“If the Yoruba can stand as a country if the Igbos and the Hausa/Fulani can stand as separate countries, where do we want the minority groups to be?

“Now, by virtue of the present situation, they are a little bit protected, but if Nigeria breaks up, they will be oppressed and exterminated,” he said.

He recalled the meetings he had with a number of socio-cultural organizations in September 2020 and noted that nobody at such meeting talked about disintegration or breakup, saying that “all they clamored for was a change for good”.

The elder statesman stressed the need for Nigerian leaders to be mindful of the ethnic diversity of the Nigerian nation, adding that the country would not make any meaningful progress without such consideration.

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Obasanjo, who expressed hope that the rough times that Nigeria was going through would not last forever, urged Nigerians to be patient while the country gathered her goodwill and moved in the right direction.

The leader of the group, Prof. Zacharys Gundv, in a paper he presented to Obasanjo, highlighted the challenges of the nation, including insecurity, poverty religious intolerance, kidnappings, and banditry, among others.

He explained that the Tivs were worried about the skewed narrative of insecurity in Nigeria

Proffering a solution to Nigeria’s challenges, Gundv called on well-meaning Nigerians to be united in serving the country.

He called for intensified advocacy against nomadic pastoralism and an “All Nationalities Summit” to discuss and proffer solutions to Nigeria’s challenges.

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Buhari haunted by his coup plotting past- PDP

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What began as a rumour or idle talk – whispers of a putsch – yesterday gathered a life of its own as state actors kept giving life to the notion, which is turning and turning in the widening gyre.

First was the pledge by the military that it would not overthrow President Muhammadu Buhari, a former army general and head of state whose government has come under strident criticisms over growing insecurity in the country.

In a statement issued by Acting Director, Defence Information, Brigadier-General Onyema Nwachukwu, the military said it has no intention of taking over power again in Nigeria. This, it said, is because it believes that despite tough times, democracy is the way to go and militarism is no longer fashionable. The army also warned politicians nursing ambition of ruling Nigeria outside the ballot box, saying it would continue to defend the country’s democracy.

“We shall continue to remain apolitical, subordinate to the Civil Authority, firmly loyal to the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Muhammadu Buhari and the 1999 Constitution as Amended. We shall continue to discharge our constitutional responsibilities professionally, especially in protecting the country’s democracy, defence of the territorial integrity of the country as well as protection of lives and properties of citizens,” the statement said in part.

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This statement was in reaction to agitation by some secessionist and opposition figures for a restructuring of the government, coming two days after the Department of State Services (DSS) also issued same warning.

Immediately after the army’s pledge of loyalty, the Presidency, yesterday, raised the alarm, warning of a subliminal plot by some past leaders working with foreigners to forcefully sack President Buhari from office. However, it did not provide names of the leaders and their cohorts.

The Presidency predicated its conclusion on what it described as ‘unimpeachable’ evidence made available to it by DSS operatives. It, however, warned of dire consequences of such plot, especially where the citizens have opted for democratic rule, saying the only accepted way to change a democratically elected government is through elections.

In a statement issued by Special Adviser on Media and Publicity, Femi Adesina, the Presidency said: “The Department of State Services (DSS), on Sunday alerted on sinister moves by misguided elements to wreak havoc on the government, sovereignty and corporate existence of the country.

“Championed by some disgruntled religious and past political leaders, the intention is to eventually throw the country into a tailspin, which would compel a forceful and undemocratic change of leadership.

“Further unimpeachable evidence shows that these disruptive elements are now recruiting the leadership of some ethnic groups and politicians round the country, with the intention of convening some sort of conference, where a vote of no confidence would be passed on the President, thus throwing the land into further turmoil.

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“The agent provocateurs hope to achieve through artifice and sleight of hands, what they failed to do through the ballot box in the 2019 elections. Nigerians have opted for democratic rule, and the only accepted way to change a democratically elected government is through elections, which hold at prescribed times in the country. Any other way is patently illegal, and even treasonable. Of course, such would attract the necessary consequences.”

In response to the salvo fired by the Presidency, the opposition Peoples Democratic Party (PDP) has described the allegation that some Nigerians were plotting a forceful and undemocratic change of leadership, as a resort to blackmail in the face of failure. The PDP, in a statement by its national publicity secretary, Kola Ologbondiyan, asked Buhari to look closely at his past before accusing it of plot to overthrow democratically elected government.

“Perhaps, the Presidency has forgotten that in 1983, Brigadier Muhammadu Buhari, as he was then known, led a military coup to truncate a democratically elected government thereby causing our nation a huge drawback on democratic governance.”

The PDP said rather than live up to the responsibilities of office by taking charge and securing the nation, “the Presidency is busy engaging in frivolous allegations against Nigerians.”

DESCRIBING the alarm as false and signs of a jittery administration pushing the panic button, a civil rights advocacy group, Human Rights Writers Association of Nigeria (HURIWA) has asked Buhari to quit immediately if the “kitchen has become too hot for him.”

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Bloomberg removes Bill Gates from billionaire list after divorce

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A few hours after announcing his divorce from wife, Melinda, Bloomberg has delisted one of the richest men in the world, Bill Gates, from its billionaire list index.

Gates had, on Monday, announced that he and Melinda who are the co-chair of the Bill and Melinda Gates Foundation, were splitting after 27 years of marriage.

“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the duo had shared on Twitter.

“Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable people to lead healthy lives,” they added .

Immediately after making the announcement, Bloomberg, an international media conglomerate that provides financial news and information, research, and financial data, yanked Gates off its top billionaires’ list where he usually sits in the top four spots.

On May 2, 2021, Gates was fourth on the index with a net worth of $145 billion, having gained over $13 billion in 2021 alone.

Gates became the youngest ‘American Billionaire’ in 1987 and has been on the Bloomberg’s list ever since.

He has also been a permanent fixture on the Forbes billionaire index, often making the real-time billionaire list

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Gates and Melinda got married in 1994, after he was already named the richest man in America.

The divorce is expected to affect their wealth, but the extent to which this will happen is yet to be known as Forbes is also expected to make its position known in due course.

By Isaac Dachen…

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