Infrastructure Projects
DMO: Nigerian roads financed with Sukuk not repaying debt as planned
File Photo The Debt Management Office (DMO) has decried the country’s debt service to revenue ratio, describing it as a major issue of concern. Patience Oniha, the Director-General of DMO, said this in Abuja on Thursday at the fifth Budget Seminar (webinar) organised by the Securities and Exchange Commission (SEC). The theme of the budget seminar was, “Financing Nigeria’s Budget and Infrastructure Deficit through the Capital Market.” Oniha stressed the need for infrastructure built with borrowed funds to generate revenue to service the debts. According to her, “We have done the Sukuk, for instance, but the government is the one servicing the debt of those Sukuk. “They (the debts) are not being serviced with revenue from those sources (infrastructure). “I think that when we are talking abou...
Uganda election: Will Bobi Wine derail Yoweri Museveni’s sixth term bid?
As millions of Ugandans prepare to pick the country’s president this week, the stakes could not be higher. The run-up to Thursday’s vote has been marred by restrictions on campaigning, arrests of opposition figures and deadly violence. At least 54 people were killed in November as security forces put down protests by opposition supporters. Longtime President Yoweri Museveni, 76, is facing a strong challenge from popular musician-turned-politician Bobi Wine in his bid to secure a sixth, five-year term in office. Bobi Wine, whose real name is Robert Kyagulanyi Ssentamu, was just four years old when Museveni, a former rebel leader, came to power in 1986. In 2005, Uganda’s ruling-party-dominated parliament removed presidential term limits. And in 2017, lawmakers scrapped the age limit of 75 fo...
