Nigeria’s Current Debt Position According to Ajuri Ngelale

Senior Special Assistant To President Buhari on Public Affairs Ajuri Ngelale held a Q & A on his official twitter handle where questions using the hashtag #AskAjuri were asked from Nigeria’s current debt position to health care and fighting corruption.

Ajuri Ngelale
  • On Lagos-Badagry Expressway: President Buhari Has Approved N63bn For The 46Km Agbara-Seme Border Section Of The Lagos-Badagry Expressway Which Is Expanding It To Six Lanes To Prepare For The Upcoming Six-Lane Lagos-Abidjan Expressway Which Will Cover Five ECOWAS States Including Ghana, Togo, Benin Republic, And Ivory Coast. The FG Side Has Commenced Work. The First Section In Lagos From Eric Moore To Okokomaiko Is Being Executed By The Lagos State Government And That Rehabilitation Has Begun. It Is Inconvenient Now, But It Will End Well.
  • On $3Bn World Bank Power Sector Loan Facility: Siemens Deal (Presidential Power Initiative) Is Separate From This. The WB Loan Is For A Payment Assurance Guarantee To Fund Shortfalls That Occur When DISCOs Fail To Pay GENCOs For Power Transmitted. Keeps System Running.
  • On Nigeria’s Current Debt Position: DMO: Nigeria’s Current Debt Stands At N25.7 Trillion Or $84.26BN. Questions Arise: Are We At Risk? How Much Does Does Each Government Account For? In 2010, Our National Debt Was: $35 Billion USD. By 2014, Our National Debt Had Ballooned To $67.7 Billion USD. That’s $32 Billion Dollars Of Debt Added DURING AN OIL BOOM With High Revenues And No Commensurate Infrastructure/Investment From 2014 To Date, Nigeria Has Added $18 Billion Dollars And That Leaves Us At The Current $84.2 Billion USD. Far Less Money Added To The Debt At A Time Of Recession & Low Revenues And We Still Spent The Highest Capital Release On Infrastructure Around Nigeria In History. 2nd Niger Bridge, Lagos-Ibadan Expressway, Lagos-Ibadan Railway, Warri-Itake Rail Revival, Bonny-Bodo Road, New Airport Terminals From Port Harcourt To Abuja, Kano/Enugu/Lagos Will Be Finished By June 2020. Etc. Take Note!!!! What Twitter Trolls Tried To Sell Us During The Campaign Were The Following Debt Figures: 2015: N12.2 Trillion 2019: N25.7 Trillion “THEREFORE, DEBT HAS DOUBLED UNDER @MBuhari!!” They Exclaim. They Will Not Tell You To Adjust For The Rate Of Currency Devaluation They Will Not Want You To Calculate The N12 Trillion In 2015 According To The Exchange Rate Of 2014-15 (N180/$1). They Won’t Tell You That Debt Is Calculated By US Dollars & That Tells The Real Story. N25.7 Trillion (2019 Debt) Is Calculated By A NGN/USD Exchange Rate Of N360/$1. Lastly, We Have One Of The Lowest Debt-To-GDP Rates In The World At About 22%. Compared With Ghana (62%) And South Africa (60%). Our Debt Is Not Too High. Our Revenue Is Too Low. That’s Why We Panic When We See Our Revenue Compared To Debt Servicing. We Must Raise Revenue.

Supreme court Dismisses Atiku’s appeal against Buhari’s Victory

The supreme court has dismissed the appeal filed by Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), against President Muhammadu Buhari’s election victory. The Nigerian apex court dismissed the appeal on Wednesday after hearing Atiku’s suit against Buhari’s victory at the presidential election petition tribunal.

Atiku Abubakar

A seven-man panel of the court held that the reasons for the Judgement would be given on a later date.

Read This Too | Atiku’s Election Petition Against Buhari’s victory | Download PDF Here.

Tanko Mohammed, chief justice of Nigeria (CJN), said after examining the arguments from the parties to the case, the panel concluded that the appeal lacks merit.

“We have examined the submissions of parties in this matter and the exhibit adduced and we have come to a conclusion that this appeal lacks merit, appeal is hereby dismissed,” he said.

Before the final verdict, the apex court had rejected the plea of the PDP and Atiku to adopt all its interlocutory appeals alongside the main appeal against Buhari.

The PDP and Atiku Abubakar, its presidential candidate, had through Levi Uzoukwu, their lead counsel, asked the court to allow all counsels to adopt their briefs, both in the main appeal and in seven other interlocutory appeals.

“We apply that all the briefs in this appeals be adopted so that at the end of the day, this court will take its decision on the matter,” he said. But ruling on the request, the panel held that the main appeal covers the interlocutory appeals as well. Atiku and the PDP filed the appeal before the apex court after the presidential election petition tribunal dismissed their case for also lacking merit.

Atiku challenged the victory of Buhari, who was declared the winner of the election by the Independent National Electoral Commission (INEC), on the grounds that he allegedly lacked the necessary qualifications to contest for president and that the APC candidate was defeated in the election.

What People Are Saying on Twitter

  • @Ogundamisi | The usual suspects started abusing the Supreme Court judges yet? Or they are waiting for the green light? So @atiku is no longer “CUMMING” Now we move on.
  • @J | Atiku’s lawyers are the ultimate winners. #AtikuIsGone
  • @Ebube The Statesman | My attention has been drawn to the fact that Supreme court has dismissed Atiku’s Appeal Today’s episode reminds of when clattenburg was ‘picked’ to officiate Chelsea v Man U those Baba Fergie days The man just gave 2 Red cards to Chelsea and it was game over.
  • @Nedunaija |Sorry to you guys who were heavily invested in the Atiku project. You did no wrong. You did your best. If u followed the process very well, then I’m sure you’d have seen the loopholes the ruling party exploited. After some time off, please let’s start working towards reforms
  • @Ayekooto | Idiagbon was in Saudi Arabia when IBB overthrew BUHARI GOVERNMENT in 1985. PMB is in Saudi Arabia today when BUHARI GOVERNMENT crushed Atiku. Equation Balanced!

Full Text of President Buhari’s Speech at the 2019 UNGA

President Muhammadu Buhari, Monday, in New York announced robust plans and initiatives by his administration to reverse the negative effects of climate change in Nigeria.

The plans were revealed in his address to the United Nations Climate Action Summit with the theme, “A Race We Can Win. A Race We Must Win

The full text of his speech is reproduced below:

“I share the sentiment expressed by the Secretary-General that the world is on the verge of climate catastrophe. Undeniably, Climate Change is a human-induced phenomenon.

“It is now imperative that we must step-up our collective climate actions in line with the request of the Secretary-General. It is in this regard that I wish to reiterate Nigeria’s commitment to its obligations under the Paris Agreement, the aspirations enshrined in our Nationally Determined Contribution (NDC) and ensure a resilient future that mainstreams climate risks in our decision making.

“I want to announce that the Government of Nigeria will develop a more robust sectoral action plan, and expand the scope of our Sovereign Green Bonds in line with our intended upward review of Nigeria’s NDC’s towards the inclusion of the water and waste sectors by 2020.

“In the water sector, Nigeria will issue a Green Bond for irrigation and construct multi-purpose dams for power, irrigation and water supply. We will strengthen solid and liquid waste management systems to attract more private sector investors.

“We will take concrete steps to harness climate innovative ideas by including youths in decision making processes as part of our overall climate governance architecture. We will mobilize Nigerian youths towards planting 25 million trees to enhance Nigeria’s carbon sink.

“In the energy sector, Nigeria is presently diversifying its energy sources from dependence on gas-powered system to hydro, solar, wind, biomass and nuclear sources. Specifically, Nigeria is progressively working to realize 30 percent energy efficiency and renewable energy mix by 2030. This is envisaged to lead to 179 million tons of carbon dioxide reduction per annum by 2030.

“In addition, our Administration intends to develop a shelter belt across the 11 States of the Federation spanning a distance of 1,500 km and 15km across through the Great Green Wall initiative. Furthermore, the Federal Government has commenced the implementation of the Hydrocarbon Pollution Remediation Programme in Ogoniland, to recover the carbon sink potential of the mangrove ecosystem of the one thousand square kilometers (1,000 KM2) polluted site in the affected area.

“I should also inform the summit that our Government has introduced Climate Smart Agricultural Practices to unlock Seventy-Four (74) Million tons of carbon dioxide per annum, through relevant technologies, advocacy and best practices.

“As you are aware, the Lake Chad Basin, which used to be a region of productivity, food security and wealth for an estimated 40 million citizens living around the Chad Basin, has shrunk significantly from its original size due to Climate Change.

“We will continue to lead in efforts to have solid partnerships for the ecological restoration and recharge of the Lake. We are confident that this would improve the living conditions of the diverse nationals living in the area, promote inter-state cooperation, strengthen community resilience, as well as assist in addressing the environmental and security crisis that threatens the region, its resources and inhabitants.

“Finally, permit me to add that the forty million citizens in the Lake Chad area expect this Summit to take into consideration their concerns. They anticipate that the outcomes of this meeting would include solutions to address the Climate Change impacts in the Lake Chad area.

“I am glad that the Secretary General and some of the member states represented in this hall are partnering with us in this endeavor. We thank them for their cooperation and I look forward to deepening our partnership.”

Wole Soyinka On Sowore | “Government Has Attained Unprecedented Level of Paranoia”

Professor Wole Soyinka has said that with the new move of the President Muhammadu Buhari’s administration on Omoyele Sowore, “Further checks have however confirmed that this government has indeed attained an unprecedented level of paranoia.”

Soyinka

Soyinka, reacting to the 7-count charge slammed against Sowore, who has been in detention following a court pronouncement, said the news was “utterly depressing.”

The Nobel laureate winner added that on hearing the news, “I can testify that the immediate reaction around me was to dismiss this as yet another grotesque product of Fake News, of which Nigerians have become the greatest practitioners. I confess that I also joined in this school of thought – at the start.”

| DSS Charges Sowore & Mandate For Treasonable Felony, Cyberstalking Buhari

Soyinka said: “This is utterly depressing news. So, the Sowore affair has moved beyond harassment and taken on a sinister direction. Outside the country where I happened to be engaged at the moment, I can testify that the immediate reaction around me was to dismiss this as yet another grotesque product of Fake News, of which Nigerians have become the greatest practitioners.

“I confess that I also joined in this school of thought – at the start. Further checks have, however, confirmed that this government has indeed attained an unprecedented level of paranoia.

“I do not believe that the Justice department itself believes in these improbable charges, as formally publicised. So, once again, we inscribe on our annals another season of treasonable felony,

History still guards some lessons we have yet to digest, much less from which to learn. Welcome to the Club, Mr Omoyele Sowore,” Soyinka said.