Monthly Archives: June 2019

‘PFMDAIL10: Nigeria needs to find alternatives to Oil

  • The greatest challenge that faces governance at all levels in Nigeria is to find an alternative to oil as the dominant foreign exchange earner.
  • This is in consideration of the fact that the days of high demand for that natural resource has been numbered by timelines for the reduction of its use across different countries and continents.
  • Beyond rhetoric, is there anyone high up in Nigeria’s governance structure thinking about how to resolve this challenge?
  • The way we are going, we may end up in a fiscal and monetary crisis in few years from now.

Let his achievement speak for him – Kogi APC on Yahaya’s second term bid

The state executive committee of the All Progressives Congress (APC) in Kogi says Yahaya Bello’s achievements will speak for him when the time comes.

The state executive committee says it is yet to endorse Yahaya Bello, the incumbent governor of the state, as its candidate in the forthcoming gubernatorial election.

The committee led by Salam Adejo, the party’s secretary in the state, spoke at a press conference in Abuja.

Adejo denied reports that the party had endorsed Bello for a second term, saying the party’s ticket is open to all qualified members of the party.

He mentioned that although party executives and those that worked for Bello in 2015 had a discussion with him on Saturday in Abuja, the issue of endorsement was not part of the meeting’s agenda.

“Our discussion ended on the need for peace so that the party could move forward. He said he needed sincere peace and we agreed on terms. There was nothing like an endorsement,” he said.

“The governor, at the meeting, requested that the case in court against him be withdrawn.

“We told him there were some processes to be followed. The issue of withdrawing the case is subject to another negotiation.

“We did not endorse anyone and we are not planning to. The party’s ticket is open to everyone in the party.”

In response to questions on Bello’s chance of clinching the party’s ticket, Adejo said, “the party has its own criteria on what it wants from a candidate.

“If someone has performed well or is an achiever, it will speak for him.”

The Independent National Electoral Commission (INEC) has scheduled November 16 as the date for gubernatorial elections in Kogi and Bayelsa states.

Tackle fuel subsidy, debt servicing, others, or Nigeria will be bankrupted – Sanusi to Buhari

The Emir of Kano Muhammad Sanusi II says the financial health of Nigeria is at risk and the country is heading towards bankruptcy.

Sanusi disclosed this during the third national treasury workshop held at the Kano State Government House on Wednesday.

He stressed that factors including fuel subsidy, debt servicing, and demurrage among other economic policies which he described as “unfavourable economic policies,” are consuming revenue of the nation.

“In 2011, when I was CBN governor, we spent $8bn importing petroleum and spent another $8.2bn subsidising the product

“100% of what we earn in the oil sector went out to import petrol. You are treasurers, is this sustainable?

“The country will be bankrupted and we are heading to bankruptcy,” the Emir warned.

Sanusi said further that, “For the Federal Government to place itself in a position where, (in finance you all know this is what we call a naked edge), the price of crude oil and petroleum products goes up, the Federal government pays, exchange rate moves, the Federal Government pays, interest rate moves, the Federal Government pays, demurrage, the Federal Government pays.

“What is so life-threatening about petroleum price that we have to sacrifice education, sacrifice health sector and sacrifice infrastructure for us to have cheap petroleum? And risk the financial health of the country.”

The former CBN boss advised that if truly President Buhari is fighting poverty, he should remove the risk on the national financial sector and stop the subsidy regime.

He said the President must tell Nigerians the facts about the economic situation and act promptly to address it.

Sanusi also lamented over the number of Nigerians living in poverty and expressed worry about the state of public finance in the country.

“So, let us talk about the state of public finance in Nigeria. We have a number of very difficult decisions that we must make, and we should face the reality.

“It is a difficult decision, but if the president really wants to deal with poverty, he has to deal with this first. He has to tell Nigerians, that they have to be ready, if the international price of fuel goes up, people must be ready to pay more. If it goes down, people will benefit. We have to be responsible; this is what happens everywhere in the world.

Kneel before God and ask for forgiveness – Afenifere to Osinbajo

The pan-Yoruba group, Afenifere, has asked Vice-President Yemi Osinbajo to kneel before God and ask for forgiveness for breaking one of the vital 12 commandments of Christianity.

Afenifere pointed this out while responding to Osinbajo’s comment on insurgency and terrorism in the South-western part of the country.

Recall that Osinbajo had in the United States of America on Sunday claimed that ‘kidnapping incidents in the South-west were politically motivated”. 

The Vice President also noted that “with respect to general kidnapping which we have seen in parts of the country, again, this is not entirely new. In fact, some of the kidnapping stories you read or listen to are simply not true anywhere, some are fueled by politics.

Afeneifere condemned Osinbajo for the comment saying there are reports of the “failure of the state as the security forces are largely incapable or unwilling to safeguard the lives of our people”.

Speaking for the group, Mr. Yinka Odumakin, reeled out some of the incidents that had happened in the South-western part of the country.

He said, apart from the daily tales of horror across Yorubaland in the hands of “Fulani marauders”, the meeting (Afenifere) would like Osinbajo to answer some questions.

Odumakin asked: “Is the report of the kidnap of a district head from President Buhari’s town from May 1 (2019) to date politically motivated? Was the President speaking of another country when he handed kidnappers on the rampage to God? “Was the former Health Minister, Prof. Isaac Adewole, playing politics when it was announced that his son was kidnapped? What politics was afoot when the Ondo State governor recently announced that his convoy was waylaid by kidnappers?

“If he cannot answer these questions, he should kneel before his God and ask for forgiveness for violating ‘Thou shall not lie’ commandment. We further admonish him not to allow whatever ambition and political interest he serves to push him to make such infuriating comments again.”

The group called on President Muhammadu Buhari to take the issue of securing lives and properties of Nigerians across the country seriously.

The Afenifere also said President Muhammadu should “separate the office of the President of Nigeria which he occupies from being also the grand patron of Miyetti Allah”, to enable him tackle attacks by herdsmen and bandits with more ferociousness.

Again: South East governors, Ortom reject FG’s Fulani settlements

The Federal Government had on Tuesday disclosed plans to establish Ruga settlements in some states, with a view to ending herdsmen-farmers’ clashes across the country.

The Ruga settlements, which had been approved by President Muhammadu Buhari, and had started in 12 states, would allow herdsmen to stay in specific areas, where they could graze their animals.

“During the National Council on Agriculture summit which took place in Owerri, Imo State in April this year, the Federal Ministry of Agriculture attempted to impose Ruga settlement on the states but the Benue State delegation seized the opportunity to remind the summit that Benue State has a law on ranching which has phased out open grazing. No one at the summit put forth an alternative method of animal husbandry to counter the state’s presentation.

“The Government of Benue State is willing to support cattle owners to establish ranches as stipulated by the law prohibiting open grazing.

“We however wish to reiterate that Benue State has no land for grazing reserves, grazing routes, cattle colonies or Ruga settlements. The state only has land for the establishment of ranches.”

In Imo, the Special Adviser on Media to the state Governor, Steve Osuji, said that no governor in South-East would accept such a proposal.

He said, “Certainly not. It is not about Imo State; no state in the South-East would accept it. We won’t rush to accept it when no state in the North has implemented it.”

Also, the Special Adviser to Governor Ifeanyi Ugwuanyi of Enugu State, Mr Louis Amoke, said the state was in full support of the South-East Governors’ Forum position on cattle colony.

He said the region  had “no land for cattle colony, Ruga settlement, or in whatever nomenclature it is called.”

“So the position of Enugu State Government is not different from the position of South-East Governors’ Forum.”

Similarly, Governor Darius Ishaku of Taraba State, who spoke through his Senior Special Assistant on Media and Publicity, Dan Abu, said, “We have a policy on this issue already which led to the enactment of the open grazing and ranches establishment law. This policy remains the best practice the world over in animal rearing.

“We implore the Federal Government to key into the ranching policy for the overall interest of herders and farmers. For now, we will not accept anything other than ranching,” he said.

Rejecting the move, the Onso state Commissioner for Information, Mr Yemi Olowolabi, said, “I am not aware of anything of such (Ruga settlement). However, we have made our position known about that. We have established cattle ranches at Auga Akoko and Akunnu Akoko for people to take their cattle to.

“So, rather than doing cattle rustling, the ranches were established for people to bring their cattle there. So, our position is that we don’t believe in creating anything of such, we already have our own ranches established, with the belief that the cattle there would be healthier and better.”

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