Nigeria Senate on Wednesday approved a $6.1 billion loan request by President Muhammadu Buhari.
The $6.1 billion loan request, which is equivalent to about N2.343 trillion, was approved after the Senate considered the report of the Senate Committee on Local and Foreign Debts.
The Senate resolution followed the approval of its Committee on Local and Foreign Loans as presented by the Chairman, Clifford Ordia.
The Committee recommended that the Senate approves Buhari’s request for the issuance of $3,000,000,000 but not more than $6,183,081,643.40, Eurobond in the International Capital Market.
The External Borrowing of N2,343,387,942,848, according to the panel, should be for the financing of part of the deficit authorised in the 2021 Appropriation Act.
The Committee also recommended that the Senate should go ahead to approve the amount authorised as it also said the amount may be raised from multiple sources such as the International Capital Market and any other Multilateral or Bilateral sources as may be available.
It also recommended that the Senate directs the Minister of Finance, Budget and National Planning, the Director-General of the Debt Management Office, and the Governor of the Central Bank of Nigeria to submit to the National Assembly within 10 working days (excluding the day of the close of trading) a letter containing the United State Dollars amount so raised and received as a result of the above approval together with the applicable exchange rate.
Buhari in May said the loan will be raised from multilateral and bilateral tenders as well as the international capital market.
He also disclosed that the National Assembly already approved the borrowing of N4.6 trillion in the 2021 Appropriation Act. And that the new borrowing of N2.3 trillion will part-finance the deficit in the 2021 budget.
Senator Ordia said the request is not new as it was approved in the borrowing plan when the national assembly passed the 2021 budget.
“What we are about to pass is not a new borrowing, it has been approved in the 2021 budget,” Ordia said.
After the approval, the Senate President, Ahmad Lawan, said the National Assembly must make sure that there are no frivolous expenditures by the executive.
“Let me thank the committee, this is not a new loan. This is a borrowing plan we have approved. What we have done is to provide the necessary resolutions for the implementation of it,” Lawan said.
“Every cent counts. Our committees must be alive to oversee it. No frivolous expenditures should be entertained.”
Nigeria’s 2021 budget already has a deficit of N5.6 trillion.
Buhari said the loan will be used to fund “projects from priority sectors of the economy namely: Power, Transportation, Agriculture and Rural Development, Education, Health, provision of Counterpart Funding for Multilateral and Bilateral Projects, Defence and Water Resources.”
Amidst Nigeria growing debt profile, Buhari said the measure was necessary due to the “existential challenge of Coronavirus pandemic and its aftermath; I believe that this provides a justification to exceed the threshold as provided for by this law.”
Kaduna LG Polls: APC floors PDP, Secures 15 chairmanship seats
The All Progressives Congress (APC) has won the majority of the chairmanship and councillorship seats in the local government council elections held in Kaduna State on Saturday.
The ruling party won 15 of the 17 chairmanship seats whose results have so far been declared, while the opposition Peoples Democratic Party (PDP) won the other two.
The polls were postponed in four of the state’s 23 local government areas to September 25 over security concerns.
An initial sensation was recorded when the PDP won in Governor Nasir El-Rufai’s Unguwan Sarki polling unit in Kaduna North LGA.
However, the APC rallied to win the chairmanship and most of the councillorship seats in the council.
The APC also won in the home councils of top PDP chieftains, including of former Vice President Namadi Sambo and former Governor Ahmed Makarfi.
The deputy governor of the state, Hadiza Balarabe, also delivered Sanga Local Government in the PDP-leaning southern senatorial district to the APC.
The PDP picked its two chairmanship seats in Jana and Kaura local government areas.
The elections in Kachia Local government council was declared inconclusive by the returning officer, Haruna Ahmadu.
The elections will hold in three weeks time in Birnin Gwari, Chikun, Zangon Kataf, and Kajuru LGAs following the postponement for security reasons.
See result as announced by returning officers for each local government council.
The returning officer, Katoh Ishaya, announced the PDP candidate, Matthias Siman, as winner of the chairmanship election having polled 19,511 to defeat Adamu Donatus of the APC who polled 10,941 votes.
PDP also won nine out of the 10 councillor seats while APC won one seat.
The returning office, Musa Makarfi, announced that the APC candidate, Nasara Rabo, polled 20,558 to defeat the PDP candidate, Caleb Pius, who polled 14,494 votes
Dayyabu Mohammed, the returning officer, declared Bashir Zuntu of the APC as winner of the election. He polled 23,973 votes to defeat Isah-Rabiu Imam of the PDP, who polled 9, 038 votes and Isah Yunusa of the SD who scored 530 votes.
Returning officer Haruna Abdu declared Shuaibu Jaja of the APC as winner of the chairmanship seat, having scored 18,129 votes.
Ibrahim-Shehu Doka of the PDP recorded 16,123 votes and Umar Taba of the Labour Party 1,844 votes.
Abubakar Buba of the APC was declared winner of the chairmanship seat with 36,389 votes, defeating Dalhat Abu-Dadda’i of the PDP who got 24,294 votes.
Idris Ibrahim of the APC was returned as the winner of the chairmanship seat with 34,006 votes. Yusuf Sambo of the PDP polled 14,019 votes.
Mohammed Usman of APC was declared winner after scoring 32,405 votes to defeat his closest rival, Abdu Bello of PDP, who scored 13,777 votes.
Bisallah Malam of the APC was returned as winner of the chairmanship election with 21,854 votes. The PDP candidate scored 12,832 votes.
Yunana Barde of APC took the chairmanship seat with 24,251 votes, narrowly defeating the incumbent chairman and PDP candidate, Peter Averik, who polled 23,215 votes.
The returning officer, Dr. Sunday Ibrahim, announced the results.
The ÀPC candidate, Abubakar Lawal, won the chairmanship seat with 22,896 votes His PDP rival, Awwal Kaya, scored 3,534 votes. Returning officer Godwin Ayuba also said the APC won all the 11 councillorship seats.
Mukhtar Baloni of the APC emerged winner with 16,545 votes. Adamu Dattijo of the PDP scored 15,472 votes. But PDP won 6 out of the 11 councilor seats to APC’s 5 seats.
The returning officer, Garba Salisu declared the incumbent chairman, Kabir Mayare of APC, winner with16, 328 votes. Abubakar Makarfi of PDP scored 14,739 votes.
Jabir Khamis of the APC is the winner of the chairmanship seat. He scored 29,804 votes to defeat PDP’s Ibrahim Yusha’u who scored 10,865 votes.
But the PDP chairmanin the area, Dan Azumi Maganda, said the PDP will challenge the result in court.
Peter Omale, the Returning Officer, declared Philip Gwada of the PDP winner having recorded 9,012 votes to defeat the APC candidate, Benjamin Jock, who polled 5,640 votes.
PDP also won 8 of the 10 councillorship seats.
The incumbent chairman, Abubakar Jarimi of the APC polled 7, 879to votes to defeat the PDP candidate who scored 4,765 votes.
Mohammed Usman of APC was declared winner by the returning officer, Abubakar-Mohammed Sadiq. Mr Usman scored 32,405 votes to defeat Abdu Bello of the PDP who had 13,777 votes.
The APC candidate, Ibrahim Sadiq, scored 18, 974 votes to beat his PDP opponent who scored 13,416 votes.
The chairmanship election in Kachia local government area was declared inconclusive. The returning officer said cancelled and uncast votes were over 13,000, more than the recorded votes.
According to the result announced, Allison Chitta of the PDP scored 24,482 votes to Aaron Bako of the APC’s 23,270 votes.
2023: Only the best, popular candidate will emerge in Akwa Ibom – Iniama
A stakeholder in the Akwa Ibom State politics, Mr James Iniama, has stated that the state would expect nothing but only the best and popular governorship candidate in 2023.
Iniama, in an interview with Journalists in Uyo over the weekend, noted the clamour by different groups for the Governor of Akwa Ibom State Governor, Mr Udom Emmanuel, to name his successor and said that the delay by the governor in announcing his prefered candidate could result in the imposition of unpopular candidate on the state.
He warned that the state would not tolerate any imposition without a level playing ground for aspirants to test popularity.
“I want to assure you that Akwa Ibom will get the best among the best, there is no anointed yet. The Governor cannot have a successor until elections are held. There will be an electoral process that would be published by INEC which will be followed,” he said.
Iniama recalled that the political build-up of the past regime was marred with fear, violence and hounding of a perceived political opponent.
“I support this movement, in fact, I am an apostle of peace. Whatever you are doing in life, you have to cohabit peacefully.
“I have been one of the Nigerians who have suffered grave injustice, I have been hunted and hounded in this state just because I was seeking for governorship and an opponent to a certain candidate. You were in this state and knew how unsafe the state was at that time.
“In 2007 many people left this state, many left for Cross River, I returned to the United States. The state is now safe, well, I support the movement but I don’t know if it is the vehicle for the governor’s succession plan but peace is a necessity.
Secondus denies working against Southern Nigeria
The embattled National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, has denied the allegation that he is working against the interest Southern Nigeria.
Secondus stated this in a statement issued by his media adviser, Ike Abonyi, in Abuja on Friday.
It noted “the Media Office of Secondus will continue to respond to even laughable talks because of the danger of allowing disinformation to enter public space unchallenged.”
It stated that one of such piece of false information being dished out was the allegation from the Rivers State Chairman of PDP, Desmond Akawor, that Secondus was working against Southern interest and that he had not paid his dues to the party.
“We understand the frustration of the anti-Secondus crusaders who have become evidence shopaholics in their desperation to find points with which to achieve their ignoble goals.
“The Media Office sees their effort as a case of bad marketer selling a product, who puts in several efforts to convince buyers to no avail.
“Our response is that there is no truth in all the allegations and Southern interest will be grossly endangered if it is the likes of Akawor and his clique that are pushing it,” the statement said.
The office said that critical members of PDP, including discerning members of the public knew as a fact that “no one person, no matter his position, could determine singularly the position of offices in the party”.
“The Media Office will, however, continue to urge members of the public and the media to be wary of compulsive shoppers whose agenda is mainly to distract and destroy this party and remove its focus from retuning to power in 2023 as being yearned by Nigerians,” the statement said.
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