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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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BREAKING: Abacha’s Ex-chief Of Staff Oladipo Diya Dies




Retired Lt.General Donaldson Oladipo Oyeyinka Diya, the former Chief of Staff in General Sani Abacha’s military government, is dead.

His death was confirmed by Prince Oyesinmilola Diya. He said the former military administrator of Ogun State passed on to glory in the early hours of 26th March 2023.

Born on the 3rd of April, 1944, Diya was military Governor of Ogun State after the Buhari-Idiagbon coup of December 31st, 1983.

Diya joined the Nigerian Defence Academy, Kaduna and fought during the Nigerian Civil War.

He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981) and the National Institute for Policy and Strategic Studies, Kuru.

While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to bar as Solicitor and Advocate of the Supreme Court of Nigeria.

He held other top military posts like GOC, 82 Division and finally the Chief of General Staff (military Vice President) to Gen Sani Abacha

The statement read: “On behalf of the entire Diya family home and abroad; we announce the passing on to Glory of our dear Husband,Father, Grandfather,brother, Lt- General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.

“Our dear Daddy passed onto glory in the early hours of 26th March 2023. Please keep us in your prayers as we mourn his demise in this period. Further announcements will be made public in due course.

“Barrister Prince Oyesinmilola Diya, on behalf of the family.”

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Breaking: Appeal Court Retains Adeleke As Osun Governor



BREAKING: Adeleke Freezes Osun Accounts , Reverses Appointments After Swearing In As Governor
Governor Adeleke

The Court of Appeal sitting in Abuja has vacated the tribunal judgement that nullified the election of Governor Ademola Adeleke of Osun State.

The appellate court, in a unanimous decision by a three-member panel of Justices, on Friday held that the appeal Adeleke lodged to challenge his sack by the Osun State Governorship Election Petition Tribunal, was meritorious.

Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500, 000 cost against the All Progressive Congress, APC, and its candidate, Gboyega Oyetola

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BREAKING: PDP Suspends Anyim, Fayose



Anyim and Fayose

Former governor of Ekiti State, Ayodele Fayose; former president of the Senate, Pius Anyim; Prof Dennis Ityavyar and Aslam Aliyu were on Thursday suspended from the Peoples’ Democratic Party (PDP).

The PDP made the suspension on Thursday after an extensive review of the affairs of the party, pursuant to the provisions of the PDP Constitution (as amended in 2017).

The PDP also referred the Governor of Benue State, Samuel Ortom, to the National Disciplinary Committee over his reported involvement in anti-party activities.

This was disclosed in a statement signed by the National Publicity Secretary, Debo Ologunagba.

“The PDP urges all leaders, critical stakeholders and teeming members of our party across the country to remain united and focused at this critical time,” the statement added.


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