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Nigeria debts will rise to N38.68tn in 2021 -Minister

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Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the total public debts of Nigeria would hit N38tn by December 2021.

The Minister stated this on Tuesday, in her presentation to the Senate Committee on Local and Foreign Debts.

The Minister said, ” The total public debt stock comprising the External and Homes debts of the Federal and state governments and the Federal Capital Territory stood at N31.01trn (USD85.90 billion) as at June 30, 2020.

“It is projected, based on existing approval, to rise to N32.51 trillion by December 31, 2020 and N38.68 trillion by December 31,2021.”

She attributed reasons for numerous abandoned road projects across the country to poor funds releases occasioned by dwindling revenue.

She explained that the current Sukuk fund is N162bn for 45 roads cutting across the six geopolitical zones.

She said, “I am one person that feels that we should just take one major road in one geopolitical zone and finish it.

“We were not able to do that because of the processes in which appropriation is made both at the executive as well as the legislative arms of government.

“But truly, if we are able to just take one or two projects at a time and complete it before going to the next one, it will be better.

” What the contractor does is the bit that has been cut out for him to do in that particular area.

“Once the fund is released and it is finished, we stop again. That’s the consequence of these numerous projects that we put in the budget.

“It is not related to Sukuk-funded projects alone, it cuts across all the projects.

“You will see a road that costs, may be, N5 bn, and you will see a provision for N100m, N200m or 300m.

“Of course the project will never finish. After two years, the contractor comes back and asks for variation, and the amount keeps growing.

” I wish that we get to a point when we sit down as government and agree that let us select a few projects, finish them in 2020, and then in 2021, we select the next so that on a geopolitical basis, those selections are done as a collective process.”
– The Punch

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Flaunting wealth in public a serious security risk, DSS official warns

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An official of the Department of State Services (DSS) has warned that the public display of wealth constitutes a great security risk.

Paul Oduh, the deputy director, security enforcement, DSS Kwara command, gave the warning on Friday in Ilorin, capital of the state.

 

He said the deliberate exhibition of affluence and a flamboyant lifestyle attract kidnappers, bandits, and other criminals.

 

The comment comes in the wake of the extravagant display at the much talked about funeral of the mother of Obinna Iyiegbu, the nightlife promoter popularly known as Obi Cubana.

The DSS deputy director said given the security challenges in the country, Nigerians should avoid showing off in public.

 

“People must adopt moderate lifestyles, so as not to fall prey to these criminal elements,” Oduh said.

 

Oduh said a boastful attitude and maintaining a “habitual daily routine” can also make people prone to attacks.

“The country is ravaged by insecurity on daily basis. However, people should not despair, security should be concern of all people and they must be enlightened on it,” he said.

 

“Security can never be 100 percent everywhere in the world. People should be knowledgeable enough on those things they can do to protect themselves.

 

“Security denotes free from danger and protection of lives and property where individuals can pursue their lawful activities.

 

“There is need to accept that threats exist and people are targets of these threats. This is why people should put in place measures to safeguard themselves from such threats.”

 

 

 

 

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PHOTOS: Nigeria dazzles in Tokyo Olympic opening parade

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I don’t need your cheques, Buhari tells contractor

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President Muhammadu Buhari on Friday charged contractors who have enjoyed government patronage as well as other privileged citizens to use their resources to support less privileged members of society.

 

President Buhari gave the charge when he paid a visit to the Emir of Daura, Dr Umar Faruk Umar.

 

He said passing gifts and ‘cheques’ to people in authority or already comfortable to buy favour is not the right approach.

 

According to a statement by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, President Buhari challenged beneficiaries of government patronage to go to their respective communities and engage in corporate social responsibilities.

 

The President said: “I don’t want your cheque. Go and assist our communities” instead of trying to return kickbacks to public officers, including his office.

 

“We don’t want cheques from anyone or organisation as returns or influence of any kind. Let them remember their Corporate Social Responsibilities,” he said.

 

The President noted he would love to visit Daura more frequently but for the high cost of presidential movements and exposing security personnel to the weather, assuring his heart remains with the people.

“We are known for farming and I have my farm here. I could come every two weeks and no one can stop me.

“But the cost to the movement is high. I would rather that it be used to better our schools, clinics and hospitals,” said the President.

The President said the grace of God had kept Nigeria together as a country in spite of differences that led to a 30-month civil war

 

“We want to thank God always for keeping us together as a country. From January 15, 1966, the country was thrown into political crisis. We had a 30 months civil war that resulted in the loss of about a million lives.

 

“We still thank God for keeping us together. We remain grateful to all those who showed interest in our unity and progress. May God continue to bless them,” he added.

 

The President, who recalled fond memories of visiting the Palace as a military Head of State, expressed happiness that the warmth and hospitality of the traditional institution had been sustained over the years.

 

At the meeting, the Emir publicly announced conferment of the title of Talban Daura on Yusuf Buhari, son of President Buhari.

 

He said a date would be announced for the turbaning ceremony of the President’s son, which might likely be before his marriage.

 

The Emir also announced creation of a District in the community of the President, with headquarters in Dimurkol.

He said the turbaning of younger Buhari and creation of the District was to further extend and deepen the long relationship between the Palace and the family.

 

He said the decision was in agreement with the kingmakers in Daura Emirate Council.

 

During the visit, the Palace used the opportunity to clarify the difference between two titles, Talban Hausa, given to Alpha Conde, the President of Guinea and Talban Daura designated for Yusuf, the President’s son.

 

The Palace explained that Daura, as the linchpin of the Hausa society had conferred titles that have bearing on the Hausa Kingdom and those that are specific to the Emirate.

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