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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.
Premium Times
US President, Donald Trump, has ordered the Pentagon – headquarters of the United States Department of Defense – to prioritize the protection of Christians targeted by ISIS terrorists in Nigeria.
U.S. Secretary of War, Pete Hegseth, disclosed this on Wednesday while stressing that the mission has quietly led to the killing of ISIS’ second-in-command in Nigeria.
Speaking during a cabinet meeting chaired by President Trump at the White House, Hegseth said:
“To give you a sense of how committed this president is (referring to President Trump), maybe, a year ago, he heard the call of Nigerian Christians who are being targeted and killed by ISIS in Nigeria.
“He said, Pete, I want the war department to focus on ensuring that we do whatever we can to protect those Christians”.
He further said: “Partnerships like that can take some time behind the scenes, but he never wavered on it. We got the assets there over the last month. There has not been much coverage of this”.
He added that U.S. intelligence gathered during the operation helped lead to the deaths of “hundreds” of ISIS fighters tied to attacks on Christians and threats against the U.S. homeland.
“We killed ISIS’ number two in Nigeria, who is most responsible for killing Christians and trying to target U.S. homeland.
“There’s a lot of things we do that the media pays attention to, and a lot of things that the president empowers the Department to do on behalf of the American people, that he deserves great credit for,” Hegseth concluded.
Controversial social media activist, Martins Vincent Otse aka VeryDarkMan (VDM), has reacted strongly to allegations surrounding the circulation of an alleged audio involving President Bola Ahmed Tinubu.
VDM spoke in a lengthy video posted on social media after comments credited to presidential spokesperson, Bayo Onanuga, accused him of disseminating a fake audio related to the President.
In the video, VDM claimed he began receiving several calls warning him not to return to Nigeria following the controversy surrounding the audio clip.
According to him, some associates advised him to remain abroad over fears that he could be arrested upon his return to the country.
Reacting to the development, VDM denied any wrongdoing and insisted that he had the constitutional right to criticise the government and comment on national issues.
He accused government officials of paying more attention to critics on social media instead of addressing pressing security challenges confronting the country.
The activist also criticised the Federal government over insecurity, kidnappings and economic hardship, arguing that Nigerians were facing difficult living conditions across the country.
VDM further alleged that some individuals were attempting to create a narrative to justify possible actions against him because of his criticism of the administration.
He maintained that he would continue speaking on issues affecting Nigerians, particularly insecurity and governance.
During the emotional video, the social commentator repeatedly questioned why government officials were allegedly more vocal about online controversies than incidents of bandit attacks and kidnappings.
He also urged Nigerians to participate actively in the 2027 general elections, insisting that citizens must make decisions based on the performance of political leaders.
The controversy followed comments attributed to Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy, who reportedly stated that VDM should “face the weight of the law” over the alleged circulation of fake audio involving the President.
As of the time of filing this report, there was no official confirmation from security agencies regarding any planned action against the activist.
By Eric Elezuo
Former Vice President Atiku Abubakar has been declared winner of the presidential primary of the African Democratic Congress (ADC).
The declaration was made at the Trascorp Hilton Hotel, where the final collation of results was made.
The former Vice President polled a total of 1, 846, 370 votes to defeat his closest rival, former Governor of Rivers State, Hon Rotimi Amaechi, who scored just over 500 thousand votes. Alhaji Muhammed Hayatu-Deen came third.
