Connect with us

News

FG’s Spending Of 97% Of Nation’s Revenue On Debt Servicing Worrisome – NCFront

Published

on

Following media report that 97 per cent of revenue generated by the Nigerian government between January and May 2020 was spent on debt servicing, the youth wing of the pan-Nigeria political movement, NCFront has cried out over the mortgaging of the well-being and future of Nigerian Youths by the government’s non discretionary debt servicing and penchant for loan taking.

In a statement issued on Friday by NCFront Youth Wing and signed by Head of its Youths Relations Bureau, Mr Jude Feranmi, the NCFront Youths expressed worry that the government is again on the verge of borrowing to incur another round of interests on loans, pointing out that the unfortunate economic situation, where the country has been plunged, should be enough reason for the long-suffering youths of NIgeria to join hands with the National Consultative Front, NCFront to rescue their future by demanding a real change in government policies that reinforce their sufferings through misappropriation of Nigeria’s common patrimony.

It will be recalled a national daily reported on Thursday that the 2021 budget call circular published by the Budget Office disclosed that the federal government generated a total revenue of N1.62trillion out of the N2.62 trillion projected for between January and May 2020, and that within the five months, N1.58 trillion, representing 97.5 percent of the N1.62trillion generated, was expended on debt servicing.

“Again with the International Monetary Fund, IMF, projecting that debt servicing will gulp all revenues in Nigeria in 2020, and a possible fiscal deficit of 5.1trillion is envisaged in 2021, NCFront is compelled to disagree with government’s resort to imposing ridiculous taxes and charges over already impoverished Nigerians, who are currently pauperised by callous policies of government and unconscionable looting of the treasury by public officials”.

The NCFront youths also wondered why the government is still unable to block revenue leakages within Nigeria’s economic system and make judicious use of accruable funds at its disposal instead of having the Transportation minister, Rotimi Amaechi exercising fears about China not approving Nigeria’s loan requests if the National Assembly continues with its ongoing probe of the loan agreements between country and China.

The NCFront Youth Wing regretted that despite the fact that the youths have a greater stake in the repayment of the outlandish loans, the impact of public borrowings among the youth demography is as critical as the distress brought upon them by the appalling funding and budgetary allocations received by education sector which has continually foisted industrial actions on the sector as a regular occurrence. Amaechi

“A large percentage of the country’s economy is still largely informal – more than 70 percent, however the government has chosen to overtax the youths who set up a majority of the SMEs trying to make ends meet within Nigeria’s failing economy. Today, we suffer and tomorrow is not assured as we are presently being shortchanged by debt that has to be repaid by us”.

The Leader of the NCFront Youths therefore called on the young populace to urgently rise and take back their country as done in other climes, urging them to team up with NCFront to rescue and create a New Nigeria We have to begin to engage the foundational political structure of our country that guarantees zero incentives for citizens to grow and function optimally.”

Loading

Headline

Rivers Assembly Members Accuse Fubara, Deputy Of Gross Misconduct

Published

on

Rivers State House of Assembly has accused Governor Siminalayi Fubara and his deputy Ngozi Odu of gross misconduct.

Twenty-six members of the Rivers Assembly raised the allegation in a notice sent to the speaker Martin Amaewhule.

According to them, the action was in line with the Nigerian Constitution.

“In compliance with Section 188 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and other extant laws, we the undersigned members of the Rivers State House of Assembly hereby forward to you a Notice of Gross Misconduct by the Deputy Governor of Rivers State in the performance of the functions of her office,”

Upon receipt of the notice, Amaewhule forwarded the same to Governor Fubara and said the allegation was raised by 26 lawmakers “which is not less than one-third (1/3) of the membership of the Rivers State House of Assembly”.

Speaker Amaewhule asked Fubara to “reply to the allegations made against you in the said Notice of Allegations of Gross Misconduct accordingly”.

He said, “In doing this, your attention is drawn to the provisions of Section 188(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), which provides thus: ‘Within 14 days of the presentation of the notice to the Speaker of the House of Assembly (whether or not any statement made by holder of the office in reply to the allegation contained in the notice) the House of Assembly shall resolve by motion, without any debate whether or not the allegation shall be investigated.’

“Please be guided accordingly and do accept my esteemed regards.”

Loading

Continue Reading

News

Probing Senator Natasha’s IPU attendance will embarrass Nigeria – Falana

Published

on

Human rights lawyer, Femi Falana, says any official probe by security agencies into Natasha Akpoti-Uduaghan’s attendance at the Inter-Parliamentary Union, IPU, meeting in New York could bring unnecessary embarrassment to Nigeria.


Falana’s comment is coming following allegations by Senate President Godswill Akpabio that the senator’s actions humiliated the government and people of Nigeria after Akpoti-Uduaghan reported her suspension to the international body.

The female lawmaker had recently accused Akpabio of sexually harassing her.


The allegation came amid her seating arrangement altercation with the senate president at the red chamber.

Senator Natasha was subsequently suspended from the senate for gross misconduct over the debacle.

She spoke at the IPU meeting on March 11 about the suspension, telling the international body that the action was designed to silence her over the sexual harassment allegations.


The Department of State Services, DSS, and the National Intelligence Agency, NIA, have reportedly launched an investigation into how the Kogi senator attended the IPU meeting in New York without an official nomination.

However, in a statement issued on Sunday, Falana warned that the investigation by security forces risks exposing the country to needless embarrassment and undeserved ridicule.

“Finally, it is public knowledge that the Senate President, Senator Godswill Akpabio had accused Senator Natasha Akpoti-Uduaghan of embarrassing the government and people of the Federal Republic of Nigeria by reporting her suspension by the senate to the Inter-Parliamentary Union.


“Contrary to the jaundiced views of the senate leader, it is the official probe of the circumstances of her trip by security forces that will expose Nigeria to needless embarrassment and undeserved ridicule

“Therefore, the SSS and NIA may study the report of the investigation of our illegal travelling by the Sani Abacha military junta before embarking on the futile attempt to probe senator Natasha Akpoti-Uduaghan for having the temerity to externalise the “internal affair of the senate,” Falana said

Loading

Continue Reading

Headline

Minimum wage poor, Labour leaders betrayed workers — Obasanjo

Published

on

Former President Olusegun Obasanjo has criticised the N70,000 new minimum wage approved for workers by President Bola Tinubu, describing it as grossly inadequate to cover workers’ basic needs, including transportation, food, and housing.

The former President accused labour leaders of betraying workers by prioritising personal interests over collective welfare.

“That is the situation in Nigeria in the third decade of the 21st century.

“The minimum wage does not even cover transportation costs for some workers, let alone food, housing, and family upkeep,” Obasanjo wrote in his newly released book, “Nigeria: Past and Future”.

In Chapter 17 of the book, Obasanjo accused labour leader of neglecting leaders while pursuing personal interests.

“Workers need more attention than they are getting. It is their right, and they have been denied it for too long. They have become victims of those meant to protect their interests.

“How did it happen that a trade union leader, while in office, was negotiating with a political party to be adopted as a gubernatorial candidate?

“Because of their political ambitions, most union leaders are ineffective compared to the founding fathers’ expectations.

“The workers thereby become victims of selfish leaders who use their positions to achieve political heights.

“Rather than negotiate in the interest of the workers, they do sabre-rattling and they are called into the room and money in large amounts is stuffed into their hands and they keep quiet.

“That has been the case since 2015. And, if anything, it is going from bad to worse.”

Obasanjo also criticised government officials who openly admitted to paying off labour leaders to stop agitation.

“How do we explain a senior official close to the President saying, ‘We have paid them to keep quiet and stop agitating’?

“What contributions are such labour leaders and their unions making to the country’s progress? You do not get the best from a frustrated and depressed worker.”

While acknowledging that anyone has the right to pursue politics, Obasanjo argued that it was unethical for labour leaders to use their unions as platforms for political advancement, as it creates a conflict of interest.

He proposed a law requiring labour leaders to wait at least five years after leaving office before participating in politics.

On July 29, 2024, Tinubu signed the N70,000 minimum wage into law after negotiations with organised labour and the private sector were finalised on July 18, 2024.

This concluded months-long talks in which Tinubu reduced labour’s initial N250,000/month demand to N70,000/month.

Before this, the country’s minimum wage stood at N33,000, signed into law by former President Muhammadu Buhari on April 18, 2019.

Loading

Continue Reading

Recent Posts




JOIN US ON FACEBOOK

Trending