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Tag: Bola Tinubu

  • CSOs call for debt rescheduling with China, others

    Over 50 civil society Organisations have called on President Bola Ahmed Tinubu to reschedule Nigeria’s debt with China.

    In a communiqué signed by Action Aid Nigeria, BudgIT Foundation, Centre for Social Justice (CSJ), Civil Society Legislative Advocacy Centre (CISLAC), Heinrich Boell Stiftung Nigeria, OXFAM Nigeria, Natural Resource Governance Institute (NRGI), and 48 others, the CSOs noted that the present situation where the country was spending 80 per cent of its resources to service debt was unsustainable.

    Analysts have said that the country spends over 90 per cent of its revenue on debt servicing.

    The federal government has put Nigeria’s debt profile at N77 trillion including the Ways and Means from the Central Bank of Nigeria (CBN).

    The group noted that the huge debt burden has put the country in a position where it would be difficult to fulfill its commitments to achieve the Sustainable Development Goals (SDG) and contribute to the attainment of the climate goals of the Paris Agreement.

    According to them, instead of making accelerated progress, the country, like many others on the continent, is regressing.

    They therefore urged the National Assembly to review the existing debt management strategy with a view to strengthen it.

    “Adhering to relevant legal and institutional fiscal frameworks is important in the context of high and rising debt levels. Although the country has a comprehensive legal framework that specifies processes and obligations of government entities to manage debt, these are not always complied with. For example, annual borrowing plans are not made available to the public and borrowing occurs without being attached to any particular projects, contributing to a lack of transparency and accountability. 

    “National Assembly should review the existing legal and institutional frameworks relevant to debt management with the view of closing existing loopholes and strengthening transparency and enforcement. For example, the Fiscal Responsibility Commission and Debt Management Office should be empowered to sanction breaches of existing laws and regulations.

    “Lawmakers should carry out loan approvals with proper scrutiny and approvals be subject to public hearings and input. Public disclosure of, for example, the terms and conditions of loans, and borrowing plans are critical steps to increase transparency and accountability in Nigeria.  

    “The Nigerian government and its decision-makers should reduce its reliance on borrowings from the international capital market and commercial loans. There is a need to more strictly adhere to the provision of the law on maintaining concessional loans,” the group said.

    While noting that Nigeria’s high debt levels is a function of poor revenue mobilisation through taxes and other means, they urged the federal government to introduce measures that would address the country’s revenue challenge.

    “An enhanced Debt Sustainability Analysis that integrate climate and other sustainability risks, and climate resilience benefits, as well as estimates of a country’s financing needs for climate change adaptation, mitigation, and achieving the broader goals set out in the 2030 Agenda for the SDGs;

    “Access to debt restructuring for all debt-distressed, climate-vulnerable low and middle-income countries, and a speeding up of debt relief talks;

    “A debt restructuring framework that incorporates adequate incentives to ensure private creditors participate and bear a fair share of the burden;

    “A departure from regressive conditions attached to debt restructuring frameworks (i.e. cutbacks on social spending), giving room to countries to develop their own plans to advance development and climate resilience (guided by SDG commitments and NDCs);

    “The inclusion of disaster clauses in lending deals with public and private creditors to allow countries to divert debt payments to disaster relief;

    “The possible establishment of a new Global Debt Authority, designed to operate in an inclusive manner, independent of creditors or debtors, and the development of an international legal framework for sovereign insolvency,” the communiqué read.

  • APC’s petition challenging Obi’s LP membership incompetent- Tribunal

    APC’s petition challenging Obi’s LP membership incompetent- Tribunal

    The Presidential Tribunal sitting in Abuja on Wednesday in its final ruling, declared APC suit challenging Peter Obi as a bona fide member of the Labour Party as incompetent.

    Justice Abba declared that Obi emerging as the flagbearer of the Labour Party was an internal affair and lacks competence in the suit.  

    The Tribunal also touched on the issue of non-joinder of Atiku Abubakar who came second and wondered how Obi & LP’s petition could be effectively determined without joining the candidate who placed second in the polls.

  • BREAKING: Court strikes out APM’s double nomination suit against Shettima, Tinubu

    The Presidential Election Petitions Tribunal sitting in Abuja has struck out the suit filed by the Allied Peoples Movement (APM) accusing Vice-President Kashim Shettima of the All Progressives Congress (APC) of double nomination in the 2023 general elections.  

    The Chairman of the panel, Justice Haruna Tsammani, who read the lead judgement, held that an invalid nomination or double nomination did not qualify as a ground for disqualification in respect of the presidential election as provided in sections 131 and 137 of the constitution.

    He also held that Mr Ibrahim Masari, who was nominated as a placeholder by the APC (for the position of the Vice President), was not a necessary party to the petition because he was neither a candidate nor did he win the election.

    He also held that the question as to the qualification or not of any candidate for any election is a pre-election matter which is outside the jurisdiction of the PEPC.

    In addition, he ruled that the matter of  qualifications of candidates to contest an election is entirely an internal party matter which non-members have no locus standi to challenge.

  • NLC begins 2-day strike, insists N5bn palliative not enough

    NLC begins 2-day strike, insists N5bn palliative not enough

    The Nigeria Labour Congress (NLC) has initiated a two-day warning strike to protest the Federal Government’s handling of the challenges resulting from the removal of fuel subsidies. This move follows NLC President Joe Ajaero’s announcement last Friday.

    In his inaugural speech on May 29, President Bola Tinubu declared the end of fuel subsidies, triggering a significant surge in fuel prices nationwide and an increase in the cost of living. The NLC accuses the Federal Government of abandoning negotiations and failing to implement resolutions from previous meetings.

    On August 2, the organized labour staged protests against what they deemed “anti-people policies” by President Bola Tinubu’s administration. The Nigeria Labour Congress (NLC), Trade Union Congress (TUC), and affiliated unions demonstrated in several states and the Federal Capital Territory (FCT), demanding the reversal of anti-poor policies, the release of withheld university lecturers’ and workers’ salaries, and an increase in the minimum wage from N30,000 to N200,000.

    Despite numerous meetings between the Presidency and the unions regarding palliatives for Nigerians affected by the petrol subsidy removal, no agreement was reached.

    Last month, NLC President Joe Ajaero argued that the N5 billion allocated to each state and the FCT to mitigate the impact of the subsidy removal was grossly insufficient to alleviate the suffering of the people.

    Ajaero explained that when calculated, the N5 billion would amount to less than N1,500 per person, raising questions about whether the funds were intended as loans or palliatives to the states or citizens.

    “The first increase in the pump price of petroleum products and the last one moved a lot of people from the borderline to a very high level of poverty,” he said.

    “Now, if you calculate it, you will discover that this will not translate to N1,500 per person and you ask: is that the impact? Is that really what we want to achieve? Let’s assume it’s a loan. What is really going to happen? Is it garbage in, garbage out?

    “If it is N5 billion, I think organised labour would want anybody to do the calculation and tell us how it is going to impact Nigerians on what is happening currently. If it is a loan, then it is too bad,” Ajaero argued.

    He highlighted the profound impact of recent fuel price increases on poverty levels, emphasizing that the proposed financial relief appeared inadequate.

    Organized labour has continued to call for transparency concerning the N5 billion allocated whilst questioning its effectiveness in addressing the ongoing economic challenges triggered by the subsidy removal.

  • Shelve proposed warning strike, FG appeals to NLC

    The Federal Government has appealed to the Nigeria Labour Congress (NLC) to suspend its proposed 2-day nationwide warning strike over economic hardship.

    The Minister of Labour and Employment, Mr Simon Lalong, made the call at a news conference on Monday in Abuja.

    The NLC in a communique issued at the end of its National Executive Council (NLC) said it would commence a 2-day nationwide warning strike from September 5 to September 6.

    The NLC also threatened to embark on indefinite nationwide strike within 14 working days or 21 days from when the communique was issued unless the Federal Government addressed the excruciating suffering of Nigerians.

    Lalong said that the appeal had become necessary in order to ensure robust line of communication with Nigerians and in particular the organised labour to forestall a breakdown of industrial peace.

    He noted that the planned industrial action would no doubt reverse some of the gains already made by the administration.

    According to him, in this context, it has become pertinent to appeal to the leadership of the NLC to suspend its intended two days warning strike.

    “As such action would be detrimental to the gains already being recorded on our course to securing a greater future for Nigerian workers and citizens at large.

    “Furthermore, I would request that the Comrade Leadership of the NLC gives this government some time to settle and address the issues on the ground holistically.

    “It should be realised that the Cabinet of this administration was only recently sworn in by Mr President and all cabinet members have hit the ground running by receiving briefings from their MDAs.

    “Therefore, the issues raised by the leadership of the NLC are some issues that I and the Minister of State for Labour and Employment are being briefed upon,” he said.

    The minister however reassured Nigerian workers that this government would never take them for granted nor fail to appreciate their support and understanding.

    He also said that this administration would continue to pursue policies aimed at massive employment generation in all sectors of the economy.

    Lalong added that this would enable government look into immediate challenges that have emerged out of its policies, saying “we cannot do this in an atmosphere devoid of industrial peace.

    He also said that as a Minister of Labour and Employment, he was yet to be served official communication of the NLC communiqué, following its NEC meeting as required by law.

    He further urged the NLC to do the needful by following laid down processes for handling such matters since the cabinet was on ground.

    He assured that all the issues raised by the NLC would be looked into one after the other.

    “Allow me to first express my sympathy and that of the government of President Bola Tinubu to Nigerians and in particular the workers.

    “That is over the challenges that have arisen from the removal of petrol subsidy and other policies of the government aimed at renewing hope for the future of our dear nation.

    “In light of these matters, I would like to reiterate my appeal to the leadership of the NLC to suspend the warning strike and subsequent future actions.

    “To allow us to work together to amicably resolve these issues rather than embark on actions that would further worsen the conditions of the citizens of Nigeria,” he said.

    He therefore announced that government would be meeting with the NLC by 3 p.m. on Monday (September 4)

  • Presidential Tribunal to announce verdict Sept 6, okays live broadcast

    Putting an end to two weeks of suspense, the Presidential Election Petition Court (PEPC) has officially confirmed that it will deliver its judgment on Wednesday, September 6. This landmark decision comes after three petitions contesting the victory of Bola Ahmed Tinubu in the 2023 presidential election.

    The Chief Registrar of the Court of Appeal, Umar Mohammed Bangari, disclosed this important date in Abuja on Monday, putting to rest the speculations that had been swirling around the case.

    Bangari assured that the court is taking every measure to ensure a smooth and trouble-free delivery of the judgment in response to the three petitions. These petitions were filed by Abubakar Atiku, the Presidential candidate of the People’s Democratic Party (PDP); Peter Obi, his counterpart from the Labour Party; and the Allied People Movement (APM) under the APC umbrella.

    In an effort to maintain order and security, Bangari mentioned that stringent security measures have been implemented.

    Access to the courtroom will be restricted, permitting only invited members of political parties and the general public to enter. This approach is intended to prevent overcrowding and potential security breaches.

    Furthermore, Bangari announced that interested television stations would be allowed to broadcast the proceedings live, without any associated costs to the court.

    However, to ensure security and crowd control, certain restrictions will be in place around the court premises.

    A notable decision by the court was to reserve judgment on the petitions submitted by the Allied Peoples Movement (APM) and Atiku Abubakar of the Peoples Democratic Party, scheduling them for delivery on the same day as Peter Obi’s Labour Party petition.

    Notably, last week, the court refuted the claims that it had set September 16 as the date for the judgment, clarifying the actual date as September 6.

  • Subsidy Removal: NLC declares 2-day warning strike

    Subsidy Removal: NLC declares 2-day warning strike

    The Nigeria Labour Congres (NLC) has declared a two-day warning strike, beginning on Tuesday, September 5, in protest against the Federal Government for failing to address the challenges caused by the removal of fuel subsidy.

    The NLC President, Joe Ajaero, made the declaration on Friday during a press conference at the Labour House in Abuja, while speaking on resolutions by the NLC National Executive Committee (NEC) meeting the previous day.

    The labour union is accusing the Federal Government of abandoning the negotiations and failing to implement some of the resolutions from previous meetings with the government.

    On August 2, organised labour protested what it described as the anti-people policies of the administration of President Bola Tinubu.

    The Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and their affiliate unions demonstrated in the Federal Capital Territory (FCT) and several states, including Lagos, Abia, Plateau, Kaduna, Kano, Rivers, Zamfara, Katsina, Cross River, Ebonyi, Enugu, Kwara, Ogun, Imo, Ondo, and Edo.

    The protest followed a seven-day ultimatum issued to the Federal Government demanding “the immediate reversal of all anti-poor policies of the federal government including the recent hike in PMS (Premium Motor Spirit) price, increase in public school fees, the release of the eight months withheld salary of university lecturers and workers”.

    The union also demanded an upward review of the minimum wage from N30,000 to N200,000, saying that since the President’s “subsidy is gone” inauguration speech of May 29, 2023, the peace of mind of Nigerians has gone.

    Several meetings between the Presidency and the unions on palliatives for Nigerians suffering hardship in the wake of the petrol subsidy removal proved abortive.

    Last month, NLC president Joe Ajaero argued that the N5 billion approved for each state and the FCT to cushion the impact of fuel subsidy removal was inadequate to impact on the people.

    Ajaero had argued that if calculated, the N5 billion would not amount to N1,500 per person.

    According to him, it is unclear whether the money is a loan or a palliative to the states or to Nigerians.

    “The first increase in the pump price of petroleum products and the last one moved a lot of people from the borderline to a very high level of poverty,” he said.

    “Now, if you calculate it, you will discover that this will not translate to N1,500 per person and you ask: is that the impact? Is that really what we want to achieve? Let’s assume it’s a loan. What is really going to happen? Is it garbage in, garbage out?

    “If it is N5 billion, I think organised labour would want anybody to do the calculation and tell us how it is going to impact Nigerians on what is happening currently. If it is a loan, then it is too bad.”

  • Tinubu chairs inaugural Federal Executive Council Meeting

    President Bola Tinubu is currently presiding over the inaugural session of the Federal Executive Council (FEC) at the Presidential Villa in Abuja.

    The meeting commenced shortly after noon on Monday and is attended by prominent officials, including Vice President Kashim Shettima, Secretary to the Government of the Federation Sen. George Akume, and Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan. Other participants comprise Chief of State to the President, Femi Gbajabiamila, new ministers, and key government functionaries.

    The Federal Executive Council is established under the Ministers’ Statutory Powers and Duties Act, functioning as an advisory body to the President, who holds the position of the FEC’s chairman.

    Its role involves providing guidance to the President to determine the strategic course of the government. While the President remains the ultimate authority in executive decision-making, the FEC plays a crucial role in shaping the government’s direction.

    Serving as the federal government’s cabinet, the FEC is an integral part of the executive branch. Its members are appointed by and are accountable to the President.

    This gathering follows the recent inauguration of 45 ministers by President Tinubu, as they take up their roles in his administration.

  • Subsidy Removal: Extend palliatives to all industries, NACCIMA appeals to FG

    The Nigerian Association of Chambers of Commerce Industry, Mines and Agriculture (NACCIMA) has appealed to the Federal Government to extend palliatives to all productive industries to cushion the effects of the removal of fuel subsidy.

    Its National President, Otunba Dele Oye, made the appeal at the 3rd Quarterly Council meeting of the association in Abuja.

    The Federal Government had announced N5 billion palliative for each state of the federation, including the Federal Capital Territory to ameliorate the rise cost of living arising from the removal of the petrol subsidy.

    Oye said that the removal of petrol subsidy was not only affecting consumers but also the productive industries.

    According to him, the removal of the petrol subsidy and the floating of the Naira currency have in one way or the other affected industries.

    “These affected both consumers and industries because every new policy has its own casualties.

    “So, in the long term, it is good for the country, but in the short term, you have to consider people who are wrongly affected so that the prices do not cause unusual inflation.

    “It is important that the government ensures that the palliatives also go to the industries,’’ Oye said.

    He added that it would take time for businesses to adjust to the new policy of Naira floating.

    “The short term is always a bit difficult for a lot of people, because it takes time to adjust for businesses to get to know the new policy and also to work with it.”

    NACCIMA boss said that providing loans at a single digit rate could provide certain cushioning effects to industries affected in the short term.

    “This is because it is from us we generate the money from the tax to sustain the economy.

    “So, government must focus and find a way to make sure that the palliative goes to every sector,’’ he said.

    In his remarks, Dr Al-Mujtaba Abubakar, President, Abuja Chamber of Commerce and Industry (ACCI) said that the business community also needed incentives to cushion the effects of the fuel subsidy removal and the depreciation of the Naira.

    Abubakar, who was represented by the Director-General of ACCI, Victoria Akai, also emphasised the need for stable power supply and harmonisation of tax to enable businesses thrive.

    According to him, the business community is in dire need of incentives that will cushion the effect of the fuel subsidy removal and the depreciation of the Naira.

    He urged NACCIMA president to liaise with relevant government agencies to press home the association’s demands such as stable power supply and harmonisation of tax among others.

    “I will like to commend the determination of the NACCIMA President to further deepen the relationship of NACCIMA and policymakers which I believe will go a long way to bring the much-needed relief to the business community,’’ Abubakar said.

  • Scandal rocks FCTA Park & Pay investment project

    *Original owners seek justice from Tinubu, Wike

    Trouble appears to be brewing in the Federal Capital Territory as an ongoing scandal involving the Park & Pay investment has sent shockwaves through Abuja, raising concerns about transparency and justice.

    Otumba Olusegun Olarewanju, CEO of Platinum Parking Management, and Iliyasu Abdu, MD/CEO of Integrated Parking Managers, who claim to be the pioneers behind the recently reintroduced Abuja Park and Pay project, are demanding fair treatment from President Bola Ahmed Tinubu and the newly appointed FCT Minister, Nyesom Wike.

    To attract investments from Nigerians in the Diaspora, especially in the Capital Territory, Olarewanju and Abdu assert that President Tinubu and Minister Wike should investigate the activities of top officials within the Federal Capital Territory.

    The duo allege that they were unjustly sidelined by the Adesola Olusade-led leadership of the FCT, despite having initiated the Abuja Park and Pay project.

    It’s reported that the former Minister of the FCT, Bello Mohammed, had upon leaving office, advised the Permanent Secretary to prioritize the pioneer companies’ right of refusal to ensure fairness and prevent the perpetuation of impunity.

    However, the Permanent Secretary and his colleagues allegedly disregarded this advice, moving swiftly to bring in their proxies and seized the concept developed by the original initiators.

    The situation is complicated further by an existing court judgment requiring the FCTA to pay damages for the abrupt disengagement of the two companies, causing significant financial losses.

    Olarewanju and Abdu detailed their journey, explaining that they returned to Nigeria as a response to then-President Olusegun Obasanjo’s call for Diaspora investments. They designed an “On-Street Parking Management” solution for Abuja, aiming to generate revenue and provide employment opportunities.

    “At the onset of democracy in 1999, the then President Olusegun Obasanjo invited people in Diaspora when we tried to romance with his government. He said we should come back home, bring all our ideas, and come and invest in the country.

    “This gingered us to come back home, and looking at the esthetics, the design, and the road network of Abuja, we came on board that we could do ‘On street Parking management’ on the streets of Abuja in other to generate revenue for the FCT and also to create massive employment for the teaming youths of Nigeria.

    “And we also had it in mind that one day the influx of vehicular movement in Abuja city will be uncontrollable. So, in other to have a plan in place was what necessitated us coming up with ‘On street parking’ project in the street of Abuja.

    “And we came with everything, we came with all our technical partners, we set it up, we did everything, and we tendered for the project. The FCT Minister later set up a technical committee to look into the proposal and here we are, we signed an agreement with them in 2010.

    “When we started, we put the entire infrastructure in place, synergies or what have you. We did all the line markings in all the roads of Abuja. I and my PPMS went back abroad and brought technical partners to set up all the infrastructure. We engaged thousands of Nigerians.

    “My company engaged over four hundred and fifty direct and indirect labour to start the project, same with my friend. We brought the state-of-the-art applications to manage the projects and start setting everything up, until one day we saw two companies that took over the street of Abuja saying the Minister said they should drive us away from the streets.

    “And then these people took over the streets, and then mayhem started; chaos, and pandemonium on the streets of Abuja. This was what led to Justice Peter Afe to place a suspension on the project because people sued us, they sued one of the illegal operators in court.  And when they suspended us they told FCT to go and get a proper traffic law to support the project,” Otumba Olarewanju explained.

    However, their vision was derailed by the actions of FCT officials, who allegedly favored their own interests over the original initiators’ rights.

    The two entrepreneurs stressed their demands: a return of their original zones for operation, compensation for incurred losses due to disengagement, and adherence to the arbitration judiciary award.

    “This is because as pioneers, and in the agreement we had with FCDA we have the right of first refusal. It’s in the agreement, and that agreement has been certified by a court of competent jurisdiction, so our agreement is valid and subsisting and anything contrary to that is against the law. And number two, the arbitrary award is a legal thing that nobody can wish away except the court of competent jurisdiction. Since they have gone to the High Court, the high court could not set it aside; the Court of Appeal court did not set it aside, and even the Supreme Court will not set it aside because arbitration has a time limit. If you cannot do anything within those ninety days that means it’s only God that can intervene,” he stated.

    Their plea hinges on their agreement’s legal validity, their certified rights of first refusal, and the binding nature of the arbitration award.