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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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A former Governor of Anambra State, Peter Obi, has issued a stern warning to election officials and stakeholders, urging Nigerians to ensure that every vote counts in the 2027 general election.
Obi stressed that anyone who attempts to manipulate or obstruct the counting of votes will be held accountable for undermining the country’s democracy.
“Unlike in the past, in 2027 our votes MUST count, and all those who are there not to count the votes will be counted among those destroying Nigeria,” he wrote on X on Monday, February 16, 2026.
Obi, who has declared that he will contest the 2027 presidential election, advised voters to stay at polling units after casting their ballots to observe the counting and transmission of results, emphasising that preventing the proper tallying of votes would attract legal consequences.
The former Labour Party presidential candidate said: “I encourage everyone to remain at the polling units after voting to count and witness the counting and transmission of results. Those who refuse to allow the votes count will be made to count the full weight of the law against rigging.
“Let me reiterate: if you do not count our votes, we will count you among those who destroy our democracy, thereby destroying our future, and you must answer to the law.”
The National Secretary of All Progressives Congress (APC), Senator Ajibola Basiru, has called on the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to resign from President Bola Tinubu’s cabinet, accusing him of undue interference in the ruling party’s internal affairs.
Basiru’s demand followed Wike’s warning earlier on Monday, in which the former Rivers State governor cautioned the APC scribe to “leave Rivers State alone” and refrain from meddling in its politics. Wike, while addressing supporters during a thank-you visit to Oyigbo Local Government Area of Rivers State, described Rivers as a “no-go area,” warning that those who interfere “may burn their hands.”
But, responding to the FCT Minister’s warning in a statement issued from Osogbo, Osun State, Senator Basiru fired back, describing Wike’s remarks as a “tirade” and “uncouth.”
“My attention has been drawn to the tirade of the Minister of the FCT against my person and my office as National Secretary of the APC,” Basiru said. “It is shocking that such an innocuous statement could elicit such uncouth responses from no less than a member of the Federal Executive Council.”
The APC National Secretary defended his earlier remarks, insisting he merely reaffirmed that governors, regardless of political differences, deserve respect as leaders of the party in their respective states.
“For the avoidance of doubt, our records indicate that Minister Nyesom Wike is not a member of our party, the APC. He therefore lacks the locus to dabble into the affairs of our party,” he declared.
“As National Secretary of the APC, I am imbued with the responsibility to protect the interests of the party and all its members. My activities cannot be confined to my home state, Osun State.”
Basiru also dismissed Wike’s allegation that he and other APC leaders were scrambling for a N600 billion “largesse” in Rivers State’s coffers, describing it as “cheap blackmail.”
“My background and track record are of unquestionable integrity,” Basiru stated. “I challenge him to prove his allegations or we may meet in court.”
The APC chieftain further warned Wike against issuing threats, saying he would not be intimidated.
“Wike is not God and may be overplaying his political card,” Basiru cautioned. “My faith is in God, and I will not succumb to cheap threats such as the one from him.”
He maintained that Wike’s support for President Tinubu does not make him an APC member.
“Millions of non-APC Nigerians also support the President, and Wike’s case is no different,” Basiru said. “He cannot bring the spirit of the PDP into the APC or destabilize our structures in Rivers State.”
Concluding his statement, Basiru said Wike must make a choice between serving as a non-party technocrat or interfering in APC matters.
“He cannot be in the Federal Executive Council of an APC government and be causing confusion within our party. The honourable thing to do is to resign his appointment as Minister,” he declared.
Office of the National Security Adviser (ONSA) has dared a former Governor of Kaduna State, Nasir El-Rufai, to submit evidence of the alleged procurement of thallium sulphate to the Department of State Services (DSS) for further investigation.
Thallium sulphate is a highly toxic, colourless and odourless compound that can kill humans in small doses.
El-Rufai had alleged that the substance was reportedly sourced from a supplier in Poland.
The former governor earlier accused the ONSA, under Nuhu Ribadu of procuring thallium sulphate, a highly toxic chemical compound, and has demanded urgent clarification over the alleged transaction.
Responding, the ONSA denied the allegation, asking El-Rufai to supply any evidence he has to the DSS for a thorough investigation.
Reports on Sunday evening said a copy of the response sent to El-Rufai’s Abuja address was rejected by the security operatives on duty.
The security operatives reportedly told the dispatch clerk that the head security was not available, and that they did not have an idea of when El-Rufai would visit.
Meanwhile, unconfirmed reports said it was eventually delivered on Sunday and the head of security signed and received it on behalf of El-Rufai.
The response, written by Brigadier-General, OM Adesuyi, on behalf of the NSA was reportedly dated February 13, 2026.
Adesuyi wrote: “I have the honour to present the compliments of the National Security Adviser and to acknowledge receipt of Your Excellency’s correspondence received on 11 February 2026 requesting clarification regarding the alleged procurement of approximately 10 kilograms of Thallium Sulphate by the Office of the National Security Adviser (ONSA).
“The correspondence further indicated that information concerning the purported procurement is reportedly available to the political opposition leadership. In this regard, I am directed to respectfully convey that ONSA has neither procured nor initiated any process for the purchase of such material, and has no intention of doing so.
“However, I am further directed to state that the allegation has been formally referred to the Department of State Services for a comprehensive investigation. Your Excellency and other parties involved, who may possess relevant information relating to this claim will be duly invited by the Service to provide any evidence that may assist in an in-depth investigation, establishing the facts and ensuring due diligence.
“Please accept the assurances of the esteemed regards of the National Security Adviser.”
