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We Are Borrowing in Interest of the Country, Says Buhari
President Muhammadu Buhari Tuesday justified government borrowing to finance infrastructure, asserting that his government took loans in the interest of the country to solve the dire shortfall in infrastructure.
Speaking at a virtual meeting with members of the Presidential Economic Advisory Council (PEAC) at the State House, in Abuja, President Buhari said the country must fix its roads to save lives from soaring road accidents.
“We have so many challenges with infrastructure. We just have to take loans to do roads, rail and power, so that investors will find us attractive and come here to put their money,’’ the president said after listening to a presentation by PEAC chaired by a professor, Ayo Salami.
He regretted that the failure to provide the infrastructure for effective transportation deprived the country of its well-deserved status as the West African hub for Air cargo transportation and trans-shipment of goods.
On the issue of the economy, President Buhari noted the challenges posed by the “collapse of the oil market” and the decision of government to abide by the reduced oil production quota allocated by the Organisation of the Petroleum Exporting Countries (OPEC).
“We have to accept that decision; otherwise they (Middle-East producers) can flood the market and make the product unviable. So we have cooperated with what we get. With oil, we are in a difficult situation. The politics of oil is that the less you produce, the less you earn,” he said.
President Buhari also stressed the position of agriculture in the government’s scheme to reduce joblessness and poverty.
“For us to bounce back to productivity, especially in agriculture, the unemployed with many of them uneducated had to be persuaded to go into agriculture.
‘‘If we hadn’t gone back to the lands we would have been in trouble by now. That is why we virtually stopped the importation of food thereby saving jobs and foreign exchange.”
The president also broached the issue of COVID-19 pandemic and how it necessitated the recent government policies as they relate to energy (electricity) and fuel.
He said the federal government took such decisions because it places the country above politics.
“COVID has reduced us to the same level as developed countries.
“We are lucky we went back to the land. We eat what we produce. We are doing our best to secure the country and provide infrastructure for investment to be viable in the country,” he said.
Commending the chairman and the members of the council for their patriotism and service to the nation, President Buhari pledged to continue to draw from their wisdom, knowledge and experiences as the nation deals with challenging economic times.
Earlier, Prof Salami had in his presentation highlighted the council’s recommendations on poverty reduction and stimulation of non-debt investment inflows, as promised at their last meeting.
The council recommended steps for the effective implementation of government’s plan to lift 100 million Nigerians out of poverty, as well as measures to curb poverty disparity in Nigeria.
The council promised to set out a full policy paper that would, in the first instance, stop more Nigerians from falling into poverty and thereafter, further plans on reducing the poverty headcount in the country.
The PEAC also outlined a number of measures aimed at aggressively increasing the country’s non-debt investment inflow, including measures to improve investor perception of the country and the proposed establishment of a 5 billion – 10 billion dollars investment and growth fund to invest in.
The PEAC used the opportunity of the meeting to express support and solidarity with the administration on its recent policies.
It listed the implementation of reforms encapsulated in the Companies and Allied Matters Act (CAMA) 2020 recently signed into law, the reforms in the energy sector, bringing electricity and fuel prices in line with the market, and the decision of the Central Bank of Nigeria to merge the exchange rate of the naira versus other foreign currencies.
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Senator Natasha Akpoti-Uduaghan has once again brought before the Senate a petition alleging sexual harassment from Senate President Godswill Akpabio. But this time, it was signed by her constituents.
During the plenary on Thursday, Senator Natasha was asked whether the matter was already before any court of law. But she said it was not. Following protocol, the lawmaker was directed to formally submit the petition, after which it was referred to the Senate Committee on Ethics, Privileges, and Code of Conduct for investigation.
The committee has been given four weeks to conduct its probe and report to the Senate.
This marks the second time the Kogi Central lawmaker has raised the allegation in the chamber. A previous petition was dismissed on Wednesday owing to procedural irregularities.
During the plenary on Thursday, Senator Natasha was asked whether the matter was already before any court of law. But she said it was not. Following protocol, the lawmaker was directed to formally submit the petition, after which it was referred to the Senate Committee on Ethics, Privileges, and Code of Conduct for investigation.
The committee has been given four weeks to conduct its probe and report to the Senate.
This marks the second time the Kogi Central lawmaker has raised the allegation in the chamber. A previous petition was dismissed on Wednesday owing to procedural irregularities.
Former Senate President, Bukola Saraki, has said that the senate is an institution that needs to be protected, not an individual.
This was revealed on his X handle on Saturday in the aftermath of the ongoing backlash of the allegation of sexual harassment made by Senator Natasha Akpoti-Uduaghan on Arise TV in an interview against Senate President, Godswill Apkabio.
Akpabio’s wife filed a lawsuit against Senator Natasha at the Federal Capital Territory High Court, Abuja over alleged defamation and violation of her husband’s fundamental human rights.
Saraki expressed sadness over the development as he stated that the incident is already hurting the integrity, sanctity, image and public perception of the Senate as an institution.
“I believe that every person who has had anything to do with the National Assembly, particularly as a leader, member and worker should always jealously protect these values which make the institution, the numero uno among the three arms of government,” he said.
Saraki urged the two parties to sheath their swords and warned that supporters of both parties should be mindful of the impacts of their actions.
He advised that the instruments of law and parliamentary conventions should be adhered to in resolving the issue on the ground. He also called for an investigation of the matter by the Senate Committee on Ethics.
“At this point, with the public claims made by the Senator, the right measure to take is to institute an open, transparent and honest investigation by the Committee on Ethics, Privileges and Public Petitions,” he said.
“Both parties must submit to the investigation, fully cooperate with the committee, and stake their claims before it. This is not the first time a Senate President would appear before the Committee to aid it in the conduct of a transparent and open investigation.
“For me, the institution of the Senate is so important, sacred, and pre-eminent. All lovers of democracy should always work to strengthen it. No leader or member should be allowed to openly or surreptitiously work to subvert its sanctity.”
Former Vice President Atiku Abubakar has called for a thorough and impartial investigation into the explosive allegations of sexual harassment, intimidation, and mistreatment levelled against Senate President Godswill Akpabio, by Senator Natasha Akpoti-Uduaghan.
In a statement shared on his official Twitter handle on Friday, Atiku stressed that the gravity of these claims demands immediate and transparent action.
“Like millions of Nigerians, I watched with deep concern this morning as Senator Natasha Akpoti-Uduaghan raised serious allegations of sexual harassment, intimidation, and mistreatment against the Senate President, Godswill Akpabio,” Atiku said.
He talked about the need for a credible investigation to protect the integrity of the Nigerian Senate and uphold the values of justice and accountability.
“These allegations are grave and deserve a thorough, impartial, and transparent investigation,” he stated.
Atiku reminded Nigerians that the Senate, as the legislative arm of government, represents the people’s voice.
“For that reason, its leaders must embody integrity and respect for the offices they hold.
“As the third most powerful figure in the country, the Senate President should embody unimpeachable character,” he added.
Beyond the political implications, Atiku highlighted the far-reaching impact of sexual harassment on women’s participation in governance and national development.
“Sexual harassment in the workplace is a significant barrier to women’s advancement and, by extension, the nation’s progress. Allegations of such misconduct should never be simply dismissed, particularly when they involve a public officer with immense power, influence, and responsibility,” he said.
Atiku warned that how this case is handled will send a strong message about Nigeria’s commitment to justice, fairness, and gender equality.
The former VP also pointed out the urgent need to create a safe and supportive environment for female legislators, especially given their underrepresentation in the Senate.
“With only four women currently serving in the Senate, it is imperative that we foster an environment where female legislators can serve without fear of harassment or intimidation,” he said.
The allegations by Akpoti-Uduaghan have sparked widespread reactions across the country, with civil society organizations and gender rights advocates demanding swift and decisive action.
