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Rename Finance Minister As Minister Of Foreign Loans Collection – HURIWA Tells Buhari



BREAKING: Buhari Signs N21.8 Trillion Budget Into Law

Piqued by the unrelenting applications by the Federal Ministry of Finance and Budgets for foreign loans since the assumption of office of the President Muhammadu Buhari’s government in 2015,  a human rights group has urged the president to change the name of the Ministry of Finance and Budget to the Ministry for Foreign Loans Collection.

The Human Rights Writers Association of Nigeria (HURIWA) made known its position in a statement by its national coordinator Emmanuel Onwubiko.

The group said: “We honestly think that the President should table before his Federal Executive Council the proposal for a change of the name of the Federal Ministry of Finance, Budget and National Planning to the Federal Ministry for Foreign Loans and Debts Accumulation. This is because Nigerians have come to see that the Minister of Finance Zainab Ahmed     does nothing else than inundating Nigerians with the bad news of the constant requests from all kinds of places around the world for external loans which are actually not being utilised to grow the economy or advance the living conditions of Nigerians but these huge loans are used to service the ballooning costs of running government and paying juicy allowances to Federal Government officials”.

HURIWA also dismissed as puerile and distasteful, the opinion credited to the Senate President Mr. Ahmed Lawan that Nigeria would continue to apply for foreign loans because the nation is poor.

The rights group said it made no sense to accept such a fallacy from the Senate President because in the first place, Nigeria is not poor but resource-rich but has poor and corruption-infested political leadership.

According to the group, poor nations without resources aren’t given or granted loans by creditors unless such debtors have collateral by way of resources that the creditors like China can fall back on if Nigeria fails to meet her repayment conditionality.

HURIWA said if Nigeria was such a poor country, creditors like IMF, World Bank, China, Paris Club and London Club won’t be falling on one another to extend loans and credit facilities to a poor nation which is why China for instance has a proviso for sovereign guarantee before awarding those frivolous loans because China is aware of the resource- rich nature of Nigeria.

READ ALSO: No Case Against Nnamdi Kanu, Court’ll Free Him – Lawyer

In a media statement made against the backdrops of the latest approval by the National Assembly of a further $6.18 billion foreign loans by President Muhammadu Buhari, HURIWA said the essence of setting up a ministry of fiance is to fashion out and effectively implement sustainable and viable financial mechanisms for aggressively boosting the economy of Nigeria and Nigerians and for the promotion of the principles of transparency, accountability and good governance through good policies.

HURIWA also lamented that whereas most nations of the world are concentrating their economic and national planning efforts on boosting the productivity of the citizens and gross domestic products of their countries through industralisation and the administration and maintenance of public works and social infrastructures to create enabling environments for private sector businesses to thrive and drive economic growth, the federal and state governments in Nigeria are in the bonanza of collecting foreign credit facilities and loans so as to finance the ostentatious political lifestyles of the politicians in the corridors of power.

READ ALSO: Governor Wants NYSC Extended To Two Years

The rights group which condemned the unbridled quest by President Buhari for collecting foreign loans, stated that statistically, financial experts have concluded that given all the loans accumulated by the government, each Nigerian is now a debtor to foreign entities to the tune of N 155, 000.

“This is the new kind of enslavement which must be resisted. Whereas these government officials collect loans and fritter to fund their expensive lifestyles, millions of Nigerians have become impoverished over time. In fact only two years back, Nigeria became the home to over 90 million absolutely poor citizens and the poverty capital of the world even whilst the nation is still very rich in terms of mineral and crude oil resources whose revenues are looted heartlessly by officials,” the group said.

HURIWA stated : ” We are aware that the Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.It also said the debts are expected to rise this year following more debts to be sourced from international financiers.As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.The debt stock grew by N2.38trn or $6.59bn within the three months interval. The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new domestic borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and promissory notes issued to settle claims of exporters.”

READ ALSO: Nigeria Receives A-29 Super Tucano Aircraft From US

HURIWA lamented that “officially, the multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds just as the bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.

“The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.”

The rights group cited media reports as stating sadly that the debt stock would rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.

The rights group has therefore “for the umpteenth time called on President Muhammadu Buhari’s administration to stop forthwith the neocololonial tendencies of enslavement of Nigeria as one of the most notoriously heavily indebted third World nation.”


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In Shakeup Of FCT Administration, Wike Sacks Agencies, Parastatals Heads



BREAKING: Wike Dares Ayu To Stop Elections Of Ortom, Others
Federal Capital Territory Minister Nysom Wike

In a decisive shakeup of the administration of the Federal Capital Territory (FCT), its Minister Nyesom Wike, has sacked the heads of 21 parastatals, agencies, and government companies.

This was disclosed in a statement by the Director of Press, Office of the Minister, Anthony Ogunleye, in Abuja on Wednesday.

Ogunleye identified the affected heads of the agencies as follows:

1. Group Managing Director and Chief Executive Officer, Abuja Investment Company Ltd

2. CEO/Managing Director, Abuja Markets Management Ltd

3. MD/CEO, Abuja Urban Mass Transport Company

4. CEO/MD, Abuja Property Development Company

5. CEO/MD, Abuja Technology Village Free Trade Zone Company

6. CEO/MD, Abuja Film Village International

7. CEO/MD, Powernoth AICL Equipment Leasing Company Ltd

8. MD, Abuja Broadcasting Corporation

9. MD, Abuja Enterprise Agency

10. General Manager, FCT Water Board

11. Director-General, FCT Emergency Management Agency

12. Executive Secretary, FCT Primary Healthcare Board

13. DG, Hospital Management Board

14. Director, Abuja Environmental Protection Board

15. Director, FCT Scholarship Board

16. Director, FCT Christian Pilgrims Welfare Board

17. Director, Muslim Pilgrims Welfare Board

18. Coordinator, Abuja Infrastructure Investment Center

19. Director, FCT Health Insurance Scheme

20. Coordinator, Satellite Towns Development Department

21. Coordinator, Abuja Metropolitan Management Council

The director of the press said that the affected appointees should hand over the affairs of their offices to the most senior officers in rank.

He added that appointments in the offices would be made in due course.

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Abiodun Urges Prayer For Nigeria At Eid-El Maulud



Ogun State Governor Dapo Abiodun

Governor Dapo Abiodun of Ogun State, has urged Muslims across the country to offer prayers for the peace and prosperity of Nigeria on the occasion of Eid-El Maulud.

In a statement issued by his Chief Press Secretary, Lekan Adeniran, the Governor emphasized the need for Nigerians to come together and pray for the country’s progress, unity and development.

Governor Abiodun also called on Muslims to emulate the virtues of Prophet Muhammad (SAW), which include love, tolerance, peace, and humility.

He urged Muslims to use the occasion of Eid-El Maulud to reflect on the teachings of the Prophet and strive to live a life of righteousness and selflessness.

The Governor expressed his commitment to providing good and effective governance to the people of Ogun State as he called on Muslims to continue to support his administration and pray for its success.

Eid-ElMaulud is a Muslim holiday that commemorates the birth of Prophet Muhammad (SAW). It is celebrated with prayers, fasting, feasting, and acts of charity and generosity.

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You Are A Shining Light In Christendom, Abiodun Tells Oyedepo At 69



Ogun State Governor Dapo Abiodun

Ogun State Governor Prince Dapo Abiodun has described the founder of the Living Faith Church Worldwide, Bishop David Oyedepo, as a shining light in Christendom.

He described the bishop as a great man of God and an educationist worth emulating.

Abiodun stated this in his goodwill message to mark Bishop Oyedepo’s 69th birthday.

The governor, in a statement by his Chief Press Secretary (CPS), Lekan Adeniran, praised Bishop Oyedepo’s commitment to God, saying he daily motivates his congregation and the larger society to live a purposeful life in accordance with God’s plan.

“Your teachings have transformed the lives of many and have shaped the destiny of our nation.

“As a preacher, you exemplify excellence and have been a source of inspiration to many. Your commitment to the spread of the gospel has not only brought salvation to countless souls, but it has also helped shape the moral fabric of our society,” Abiodun said.

He said that through his involvement in the education sector, the man of God has succeeded in producing many scientists, bankers, lawyers, administrators, among others, adding that one of his universities has consistently been ranked among the best in Africa.

The governor also commended Bishop Oyedepo’s humanitarian efforts, particularly through the David Oyedepo Foundation, which provides scholarships, medical and entrepreneurial support to thousands of people.

“I am grateful for your contributions to the development of Ogun State, particularly in the area of education. Your investment in Covenant University and other educational institutions in the state have greatly impacted the lives of our youth and have helped to raise the standard of education in the state,” Abiodun said.

He prayed that God will continue to bless Bishop Oyedepo with good health, wisdom, and divine guidance as he continues to impact lives and fulfil his divine mandate.

Abiodun prayed for God’s continued blessings and guidance upon the bishop, as well as for more years of impactful service to humanity.

“Once again, I wish you a happy 69th birthday, and I pray that God will grant you many more years in good health,” Abiodun concluded.

Bishop David Oyedepo, who is also the Chancellor of Covenant University and Landmark University, was born on September 27, 1954, in Omu Aran, Kwara State, Nigeria.

He founded the Living Faith Church Worldwide, also known as Winners’ Chapel, which has grown to become one of the largest Christian denominations in Nigeria and the world at large.

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