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PDP Asks National Assembly to Reject Buhari’s Proposal to Borrow

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The Peoples Democratic Party (PDP) has asked President Muhammadu Buhari to account for recovered loot over his proposed decision to borrow $29.96bn.

The president had asked the national assembly for approval to borrow the sum from external sources.

But the PDP called on the national assembly to reject the proposal “because it will plunge the country into huge debts”.

“We totally disagree with the APC led federal government on this latest move,  and call on President Muhammed Buhari to first and foremost explain to Nigerians what his administration has done with the so-called  ‘recovered looted funds’ and how far the 2016 budget is fairing,” the party said in a statement by Dayo Adeyeye, its spokesman.

The PDP said Buhari must itemise what he intends to finance with the proposed borrowing instead of “lumping it up in a coded term, and to plunge the nation into debt.”

It also said that the approach was not the preferred solution to the economic quagmire “which this government created due to ineptitude.”

“Nigerians will recall that the minister of information, culture and tourism, Alhaji Lai Mohammed in June 2016 made public through a press statement, an account of recovered looted funds between May 2015 to May 2016 amounting to the sums of N78.3bn, $185.1m, £3.5m and €11,250m in cash; while others were under interim forfeiture. What happened to the recovered funds? Or is it the same funds the EFCC and DSS are planting in houses of opposition figures and justices instead of channeling it into the economy?” the party asked.

“In addition, the Chairman of Economic and Financial Crime Commission (EFCC), Ibrahim Magu recently confirmed our position when he stated that the commission recovered more money in eight months than it recovered in 12 years.

“Nigerians need to know how much revenue government has been able to generate from crude oil, non-oil and independent revenue sources since assumption of office from May 2015 to September 2016. This clarification will boost confidence of Nigerians on the management of their resources especially in this period of recession before thinking of engaging in external borrowing.

“It is no gain saying that the APC led federal government has left no stone unturned in castigating the PDP’s 16 years as wasted even with its obvious achievements; one of which was getting reprieve from the Paris Club of Creditors. The APC-led federal government is again taking Nigeria prior to Year 2005 when external debt burden derailed the growth of Nigeria economy and weakened the GDP before the total cancellation of her debt. This proposed action of the APC’s government will be a great injustice to the citizens of this country now and in the future if they are plunged back into debt.

“Let us state unequivocally, that history will not forgive this APC government and its collaborators if they allow this injustice and maladministration to our economy and citizens to stand. We therefore call on the two chambers of the national assembly to reject this anti-people request by an anti-people government that has no genuine interest for the growth and development of the people of this country.”

I Can’t Predict When Recession’ll End – Finance Minister, Kemi Adeosun

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The Minister of Finance, Mrs. Kemi Adeosun, has said that she cannot predict when the nation will get out of the current economic recession.

She, however, said that some of the efforts of the government to reflate the economy had started yielding results.

The minister, who spoke in an interview in Abuja, stated, “I don’t want to predict when we will get out of recession. Let me tell you that we will get into growth and that’s how you get out of recession, because of the stimulus that we are providing.

“And it may take longer than we would like, but we will definitely get out of it. We are already seeing some positive signs in agriculture and solid minerals;and with what we are trying to do with other sectors, I am very sure we will get out of it soon.”

“There Is Nothing Wrong With Restructuring Nigeria, I Did It In 1967” – Yakubu Gowon

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Former Head of State, General Yakubu  Gowon (retd), has said there was nothing wrong with restructuring the country, provided it was done within the context of one Nigeria.
Gen. Gowon
Gowon said this, yesterday, when Shehu Sani, Vice-Chairman, Senate Committee on Foreign Affairs, paid him a courtesy visit in Abuja.
He recalled that Nigeria was restructured under his leadership as the head of state with the creation of states in 1967.
He said: “We can restructure within one Nigeria context. I did it in 1967; we created states to stop eastern Nigeria from seceding. We had to do something to ensure the fear of their seceding did not exist; a serious issue of a part of the country wanting to breakaway when we already lost a part to
Cameroon.
“If we had allowed the eastern region to go away, the map of Nigeria would have looked funny; it would have been tilted one way. So, we decided overnight to break the fear through the creation of states. If we had to save the country, that was the only way to do it. We also ensured that no state was too big or too small to threaten the unity of the country.”

On his time as the number one citizen in the country, Gowon said: “Accident of history made it possible for him to become head of state. What happened was the accident of history. When you have lost your leadership and there was crisis and you don’t know what to do and it happened that those within your constituency chose you, what would you do?
“I was lucky enough within the military at that time and all the officers knew me by reputation. I had no intention to become head of state but it is the opportunity, if opportunity presents itself and people ask you to do it then do it.
“What I have achieved is (because of) God. I had never thought of becoming head of state but there was a coup and all my senior colleagues were killed and I was the only one that survived.
“My plan was to rise in my profession and hopefully become a head in my profession but that did not happen. I didn’t know what happened but I had the duty and responsibility to ensure the coup in Lagos did not succeed.”
He advised younger Nigerians to prepare themselves academically and morally to take advantage of opportunities when they presented themselves.

Source: Vanguard

Edo PDP Governorship Aspirant Chief Edebiri Dumps PDP

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The crisis rocking the Peoples Democratic Party (PDP) in Edo State has taken a new twist as one of the core aspirants, Chief Solomon Edebiri, who felt cheated in the last governorship primaries has resigned his membership from the party.

In a letter dated 15 July, signed by Chief Edebiri, which was made available to newsmen in Benin City, Edebiri expressed gratitude to all those who contributed to his political career.

He said, “After careful review of my political affiliation with the People’s Democratic Party (PDP) Edo State Chapter and having consulted with family and friends on recent political 
activities in Edo State, I hereby resign my membership of the People’s Democratic Party with effect from the date on this letter. I am grateful to all those in PDP who contributed in one way or the other to my political career development”.

Meanwhile, the State chairman of the PDP, Chief Dan Orbih, it was gathered in Benin City, has rejected the resignation, saying all doors are not yet shut at reconciliation. But when contacted, he refused to comment on the development.

It would be recalled that after the primaries, Chief Edebiri was approached by several members who were attempting to break away from PDP and the ruling party, All Progressives Congress (APC) to sponsor one of the registered political parties in order to contend with the main parties which they believe have lost credibility.
However, information obtained disclosed that Edebiri refused to go through with it as he was quoted to have said “I don’t want anything to dent my public image.”
A source who didn’t want to be named but privy to the arrangement said, “The alternative platform plans did not materialise majorly because Chief Edebiri ran on a ‘credibility and integrity’ platform. The committee he set up feels and Chief Edebiri bought the idea that going into such an arrangement will be against the image he has built for himself.”

The source also said that the senator representing Edo south, Senator Matthew Urhogide and the PDP flag bearer, Pastor Osagie Ize-Iyamu have quickly reached out to Edebiri in order to stop him if possible.

Since the governorship primaries, PDP has divided against itself as members accused the party leadership of manipulating the result by making the delegates to take oaths to vote for Pastor Osagie Ize-Iyamu.

Source: Today.ng