News
Buhari Can’t Fix Nigeria’s Economy, says PDP
The Peoples Democratic Party, PDP on Monday said the administration President Muhammadu Buhari, could not proffer solutions to Nigeria’s dwindling foreign exchange reserves and other socio-economic and political challenges of the country.
Reports from the Central Bank of Nigeria indicated that Nigeria’s foreign exchange reserves dipped to $38.684bn in December from $39.8bn in November of 2019.
The CBN Governor, Mr. Godwin Emefiele, speaking during a Monetary Policy Committee in Abuja in November had said the drop in the foreign reserves was not enough to create fear in the economy.
But the PDP Deputy National Chairman, Mr Diran Odeyemi, said that Buhari had failed to surround himself with economic and financial experts.
He stated that ex-President Goodluck Jonathan, and ex-President Olusegun Obasanjo, all of the PDP, appointed economic and financial experts, who made the economy grow during their administrations.
He also said Obasanjo’s administration was able to pay off Nigeria’s debt.
According to him, Buhari had a penchant for borrowing, adding that the borrowings had not shown commensurate investment or infrastructural provision.
Odeyemi said, “Nobody is expecting the President to be a financial expert because he did not claim to be one as a retired soldier. But as a President, he is expected to search for experts who could help him to move the country forward. This was what the former President Jonathan did and it is where Buhari has failed.
“The nation’s depleting foreign exchange is expected with the level of corruption in the war against Boko Haram, among others.
“There cannot be a better day under this regime and this is not about being antagonistic. Buhari was part of the late General Sani Abacha’s most indebted regime. What he understands about governance is to borrow and not to generate. It was the PDP administration under Obasanjo that paid off all those debts and in some instances because of his clout had some debts written off. Abacha’s regime was not different from the one that Buhari is overseeing now. The ominous signs are there for Nigerians to see.”
According to him, Buhari surrounded himself with ministers who, as former governors, incurred huge debts for their states.
He added, “How to block those leakages will not be possible under this regime because some people are smiling to the bank on the depletion of our foreign reserves in debt servicing. Until we have a change of government and all these economic marauders are chased out, the solution is not in sight.”
The Nigerian Midstream and Downstream Petroleum Resources Authority says it has commenced a clampdown on illegal LPG retail outlets in Akwa Ibom State.
The state Coordinator, Ikechukwu Eseka, disclosed this on Thursday while receiving the state commandant of the Nigeria Security and Civil Defense Corps, Bakshar Hussaini, in his office on a courtesy visit.
He said, “We have started enforcement of LPG retailers embarking on illegal decanting of LPG, filling stations, LPG refilling plants and other illegal downstream operations in the state.
“We are currently working on the illegal proliferation of decanting of LPG in the state, Eseka stated, adding that gas is very volatile, and some of them are using gas that is not meant for the purpose.”
He said he has directed that gas plant owners should not load gas on people who don’t have licenses NMDPRA in the state, warning that “decanting of gas from cylinder to cylinder is an illegal activity which is punishable by law.”
He also called on marketers to register and renew their licenses before operating LPG in the state.
“We used the opportunity to talk on the aspects of the downstream which has to do with our enforcement, sealing of filling stations and those who are using diesel for industrial purposes that are yet to register with NMDPRA.
“We have also commenced engagement with individuals and organisations using storage tanks that are over 500 litres, to come and register with the Authority in the state,” he added.
Eseka thanked the Commandant for coming to re-strategise and collaborate with the Authority in the state.
Earlier, the State Commandant of NSCDC, Hussaini, explained that the purpose of coming was to collaborate with NMDPRA on how to checkmate indiscriminate decanting of LPG in the state.
“I know with the present situation in the country, a lot of them are going to cry and you have to use human face to handle their cases so that we don’t injure the government and the public themselves,” he said.
He lamented that some people used their houses to sell cooking gas which can cause environmental hazards to the public.
The Independent National Electoral Commission, INEC, has announced plans to phase out the Permanent Voter Cards, PVC.
INEC Chairman, Prof Mahmood Yakubu, made this known at a meeting with the Resident Electoral Commissioners RECs, held at the INEC Conference Room, Abuja on Thursday.
This was part of the identified 142 recommendations released by the Commission which deals with the general state of preparedness, voter management, voter education and public communication, political parties and candidate management.
Other areas of recommendation include electoral operations and logistics management, election officials and personnel, partnership and collaboration, monitoring and supervision, election technology, voting and result management, election security, electoral offences and the electoral legal framework.
The Chairman said there are eight recommendations among the 142 which require legislative action by the National Assembly.
“The Commission also believes that with the introduction of the Bimodal Voter Accreditation System, BVAS, the use of the Permanent Voters’ Cards, PVC, as the sole means of identification for voter accreditation on Election Day should be reviewed.
He, however, said that those who already have the Permanent Voter Cards can still use them to vote.
He added, “But going forward, computer-generated slips issued to the voter or even downloaded from the Commission’s website will suffice for voter accreditation. ”
Yakubu said this new development will save costs and further eliminate the issues around the collection of Permanent Voter Cards.
He also said the practice of buying up the Permanent Voter Cards from voters to disenfranchise them, would be reduced.
President Bola Tinubu is scheduled to present the 2025 proposed budget to a joint session of the National Assembly on Tuesday, December 17, 2024.
The announcement was made by Senate President Godswill Akpabio during a plenary session, revealing that the President has sent a communication to that effect.
“The president has made his intention known to the National Assembly to present the 2025m budget to the joint session of the National Assembly on the 17th of December, 2024,” he said.
The proposed budget, totalling N47.9 trillion, was earlier announced by the Minister of Budget and Economic Planning Atiku Bagudu.
NMDPRA begins clampdown on illegal LPG retail outlets in Akwa Ibom
Elections in Nigeria: There’ll be no more need for voter cards – INEC
BREAKING: Tinubu to present 2025 budget proposal to National Assembly Tuesday
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