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Borrowings Critical For Economic Sustainability Plan

economic

‘Borrowings critical for economic sustainability plan,’ APC defends Buhari govt’s N2.6tr loan request

The All Progressives Congress (APC) on Wednesday defended the Federal Government’s fresh request for a foreign loan.

President Muhammadu Buhari had on Tuesday requested the Senate to approve a fresh N2.66 trillion ($4 billion and €710 million) external loan for the country.

In a letter addressed to Senate President, Ahmad Lawan, the President said the proposed loan would be financed through sovereign loans from the World Bank, French Development Agency, Export-Import (EXIM) Bank, and International Fund for Agricultural Development (IFAD).

The request had drawn criticism from many Nigerians including the Peoples Democratic Party (PDP).

The National Secretary of APC Caretaker and Extra-ordinary Convention Planning Committee, John Akpanudoedehe, who reacted to the backlash that trailed the fresh loan request in a statement in Abuja, said the loans are necessary for the completion of various projects in the country.

He said the projects would stimulate economic growth, job generation, and poverty reduction when completed.

The APC spokesman stressed that the borrowings were to ensure the realisation of the Nigerian Economic Sustainability Plan that touched key sectors of the nation’s economy.

Akpanudoedehe said: “It was in PDP’s era that loans for funding power generation, purchase of arms and ammunition to fight a raging insurgency were misappropriated and diverted to private pockets.

“And the borrowed money ultimately found its way to the pockets of cronies, friends, and family members of the administration’s officials.

“Nigeria is still servicing a $460 million loan taken from China to fund a phoney Abuja Closed-Circuit Television (CCTV) contract awarded in August 2010.

“Nigerians should also reflect and recall that the PDP had in its 16 years of misrule pushed the country into a dark ditch of insolvency, and a period in which most state governments could not pay workers’ salaries.”

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MFM Varsity Name Founder, Olukoya Professor

The General Overseer of Mountain of Fire and Miracles Ministries, Dr Daniel Olukoya, has been appointed by Mountain Top University, MTU as a professor of Biotechnology.

In a statement on Wednesday, the university said that the  appointment of Olukoya, who is also the university’s Chancellor, was a result of the positive consideration shown by a relevant review by the council and the assessments of his publications by some of the world’s best scholars in biotechnology.

The statement read, “This is the result of the positive consideration given by relevant review committees and the Council of the University following the assessments of his publications by some of the world’s best scholars in Biotechnology, each of whom found him to be eminently appointable as Professor of Biotechnology.

“It needs to be underscored that this appointment is indeed well-deserved by Prof. D. K. Olukoya, who is an epitome of all-around excellence.

“He also engaged himself as a distinguished researcher and exceptional geneticist at the Nigerian Institute of Medical Research between 1984 and 1998, during which he produced more than 70 scientific publications in the best local and international journals in the area of Microbiology and Biotechnology.

“He has also been cited more than a thousand times by scholars across the world.

“Not only has the new Professor of Biotechnology cut a niche for himself among eminent scholars in Microbiology and Biotechnology across the world, he has equally supervised many postgraduate students and continues to serve as a mentor and motivator to many Nigerian Microbiologists and Biotechnologists, many of whom have risen to professorial cadres in universities in and outside Nigeria.”

The statement added that Olukoya was severally offered the position in the 1990s by many universities, saying he chose to pursue his ministerial calling as directed by God.

 

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INEC Says 132, 626 Voters Cards Uncollected In Anambra

The Independent National Electoral Commission (INEC) has disclosed that 132,626 Permanent Voter Cards (PVC) are yet to be collected in Anambra State.

The commission added that it has relocated six local government area collection centres in the state, as a result of the insecurity ravaging most parts of the country.

The state’s Resident Electoral Commissioner (REC), Dr Queen Elizabeth Agwu, stated this on Wednesday, during a meeting with stakeholders at the state headquarters of the commission.

Agwu who addressed all the political parties representatives, traditional rulers and civil society groups said the local government areas where the relocation of collation centres took place include Ihiala, Nnewi South, Onitsha North, Orumba North, Awka North and Awka South.

She said:“The collection of PVCs has been extended to Saturdays and Sundays in Anambra State.

“We need enough security to carry out this function. If people fail to collect their PVC, they will be shortchanging themselves, and doing a disservice to the people of their area.

“The 2023 general elections will be free, fair and credible, not only in Anambra State but the entire country. We have done the necessary work, and we hope to deliver.”

She gave a breakdown of the figures of uncollected PVCs in most local government areas as follows:

Ayamelum – 1,960; Dunukofia – 6,222; Idemili South – 4’589; Anaocha – 885; Orumba South -6,656; Onitsha South – 12,274; Idemili North – 16,256; Aguata – 12675; Njikoka – 7,009; Ogbaru – 10,755 and Anambra East – 7,717.

Others are Nnewi South – 1,841; Awka North – 1,153; Anambra West – 1,387; Orumba North – 2,393; Oyi – 7,982; Onitsha North – 9,990; Ihiala – 4,058; Nnewi North – 8,700; Ekwusigo – 3,350 and Awka South – 4,971.

 

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Osun LP Guber Candidate, Lasun Rejoins PDP

Yusuf Lasun, a former deputy speaker of the house of representatives, has rejoined the Peoples Democratic Party (PDP).

The governor of Osun, Ademola Adeleke made the announcement on Wednesday at the PDP presidential rally in Osogbo, the Osun capital.

“The former deputy speaker has joined the PDP family. He used to be in PDP, but today, he has decided to come and join the PDP family,” the governor said.

Lasun, who was present at the rally, hailed supporters after a terse remark.

Lasun had contested the 2022 governorship election in Osun on the platform of the Labour Party (LP).

Adeleke came first in the election; Gboyega Oyetola of the APC placed second; Kehinde Atanda of the Action Democratic Party (ADP) came third; while Lasun came a distant fourth.

He was a member of the All Progressives Congress (APC) until February when he resigned from the party after losing the party’s governorship ticket.

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