The Senior Special Assistant to President Muhammadu Buhari on Niger Delta Affairs, Senator Ita Enang, has said that Nigeria is adopting the best practices of sustainable loan debt management as the repayment plan of the debt is tied to the projects for which the loan is taken. Senator Ita Enang disclosed this while presenting the keynote address at the Chartered Institute of Taxation of Nigeria 2021 Fellow Conferment Ceremony recently in Lagos. Speaking of the topic “Nigeria Adopting Best Practices in External Borrowing and Debt Sustainability” the Presidential Aide noted that “all the terms and conditions of the loan are laid before the National Assembly and approved in details before execution. According to him,” this is to avoid the terms being approved by the National Assembly after th...
Former Ondo State governor, Segun Mimiko, has said posterity will judge President Muhammadu Buhari based on his ability to tackle the present security challenges ravaging the country. Mimiko stated this, on Tuesday, while speaking at the 71st birthday ceremony/ public presentation of biography of the former chairman, House of Representatives Committee on Petroleum Resources (Downstream), Joseph Akinlaja, in Abuja. The former governor, who stated that the country is perching precariously at the precipice, noted that President Buhari has an opportunity to determine his legacy. According to him, President Buhari will not be remembered by the kilometers of railway gauges built by his administration nor the Second Niger Bridge, but by his ability to tackle insecurity across the country. He said...
The Nigerian Senate has given its Committee on Foreign and Local Debts 14 days within which to process President Muhammadu Buhari’s request for a fresh ₦2.343 trillion ($6.183 billion) for approval. Senate President Ahmad Lawan gave the directive at the commencement of Tuesday’s plenary session shortly after the Senate Majority leader, Yahaya Abdullahi, drew the attention of the Senate to the pending request. The Senator Clifford Ordia-led Committee on Foreign and Local debt had approved a total of $28 billion so far. The current request will take the total loan approved to $35.683 billion. Buhari had urged the Senate to approve N2.3 trillion ($6.183 billion) external borrowing. He said the loan was to finance the 2021 budget deficit of N5.6 trillion. The President indicated that the loan ...
The South South Reawakening Group, has called for the immediate suspension of the ongoing forensic audit of the Niger Delta Development Commission (NDDC), describing it as a “circus of corruption”. Converner of the group, Joseph Ambakederimo, in a statement, urged President Muhammadu Buhari to appoint a board for the NDDC to start a new phase for the development of the region. According to them, it was no longer news that the forensic audit ordered by the President has now been turned into “a circus for mismanagement and misappropriation of public funds to oil the machinery of political interests of a few, while the region and its people continue to suffer the perpetual psychological torture of these buccaneers.” The group recalled that the NDDC is still presently being run by an interim s...
President Muhammadu Buhari Tuesday called on the international community to support a peaceful transition from military to democratic government in Chad. He made this known at a summit put together to discuss recent developments in Chad after the death of President Idris Deby last April. At the summit, Mr Buhari called on: “development partners and countries particularly France, the United States, United Kingdom, Germany, the Netherlands, and Russia; the United Nations, the African Union and the European Union, as well as other friendly and partner nations to support the transition framework put in place by Chad’s Transition Military Council led by General Mahamat Idris Deby.” ‘‘The need to support the Chadian government to effectively carry out its planned 18-month transition is sacrosanc...
President Muhammadu Buhari on Wednesday received the Chairman, Presidential Council of Libya, H.E Mohammed Younis Menfi, at the State House, Abuja. Buhari, in a statement issued by his Special Adviser on Media and Publicity, Femi Adesina, stressed that a stable or unstable Libya held implications for countries in the Lake Chad Basin area, including Nigeria. “Republics of Chad, and Niger, have extensive borders with Libya, and they are our immediate neighbours. Whatever affects them affects us. The stability or instability of Libya will directly affect us,” he said. The President further stressed that the security of Nigeria was number one priority to him, noting that, “Unless a country or institution is secured, there’s no way you can efficiently manage it.” Buhari said he was happy that t...