Afe Babalola to Tinubu: Seek debt relief from international creditors – Newstrends
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Afe Babalola to Tinubu: Seek debt relief from international creditors

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Afe Babalola to Tinubu: Seek debt relief from international creditors

Founder of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola, has advised President Bola Tinubu to seek debt relief from international creditors.
He stated this call during the 6th Induction Ceremony of 2023 graduating set of College of Medical and Health Sciences, ABUAD, by the Medical and Dental Council of Nigeria (MDCN) in Ado-Ekiti on Sunday.
He said, “Nigeria is one of the heaviest debtors in the world. I have written articles about it. Let us investigate how we came to several trillions of dollars. What do we spend it on? I can assure you, this money is pocketed by those who said they collected it.
“Let us call on Obasanjo again to advise the present government. When we were in serious trouble in the 90s, after he took over, he went round all the creditors and begged them; one, to peg the interest; two, to even reduce the indebtedness and today, we are better for it.
“Unless we do that, this indebtedness will cripple this country and it will lead to anything. I have seen people especially, in the North who are agitating because of the fact that the naira is getting worse; food prices are high; no employment, and those who get it are not paid. Something has to be done about it.”

He urged President Bola Tinubu to adopt former President Obasanjo’s style, by seeking reduction in the interest of the loan and the loan itself.

This according to him will lessen the burden of the loan on the country and bolster its economic growth.

Babalola also condemned the recent killings of two traditional rulers in Ekiti State and hike in food prices, attributing the phenomenon to the ‘worthless’ value of naira currency which has propelled an average Nigerian to succumb to heinous acts and other criminalities in order to make ends meet.
He urged the Federal Government to intensify efforts at tackling insecurity so that farmers could access their farms without fear and enable all Nigerians to be producers of crops by investing in agriculture.
The legal icon also called on the government to increase the salaries of teachers across all the levels of education to bolster their teaching delivery towards achieving and sustaining quality education in the country, as it has been in the 20th century.
His words: “Monarchs are killed; it is an unusual development. So, what is behind all these is the fact that we have no money, our money has no value; our currency is as worthless as toilet paper. Something has to be done about naira and productivity.
“Farmers have left their farms now because of kidnappers, something has to be done about kidnapping and farmers have to be encouraged to go back to their farms.”

The legal luminary urged the inductees not to contribute to the brain drain syndrome adversely affecting medical profession in Nigeria.
At the 6th induction ceremony, no fewer than 12 students of College of Medicine and Health Sciences of ABUAD bagged distinctions as the Medical and Dental Council of Nigeria (MDCN) inducted 161 students of 2023 graduating set.
The students recorded excellence in courses such as Community Medicine, Surgery, Pathology, Pharmacology, Anatomy, Biochemistry, Physiology and Integrated General Medical Courses.
After the physician pledge, the Registrar, MDCN, Dr Tajudeen Sanusi, condemned the trends of japa syndrome and advised the inductees to return to Nigeria if given placements to train outside the country.

Aviation

Disaster averted as bird strike hits Abuja-Lagos Air Peace flight 

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Disaster averted as bird strike hits Abuja-Lagos Air Peace flight 

 

An Abuja-Lagos flight was on Thursday aborted following a bird strike on the airplane belonging to Air Peace, forcing the authorities to ground the aircraft.

The bird strike experienced in the early hours reportedly prompted a ramp return to ensure the safety of passengers onboard.

All the passengers quickly disembarked and were calmed down before they were moved into another plane for the one-hour journey.

A bird strike is a collision between a bird and an aircraft, or other airborne animal, while the aircraft is in flight, taking off, or landing. And it can be a significant threat to aircraft safety.

Air Peace in a statement by its Head of Corporate Communications, Ejike Ndiulo, said the bird strike occurred at 6:30am, and all passengers disembarked normally.

The statement read, “We wish to inform our esteemed passengers that our Abuja- Lagos 06:30 flight experienced a bird strike before take-off, prompting a ramp return as a safety measure. All passengers disembarked normally.

“We have deployed a replacement aircraft for the affected flight in order to minimize disruptions, thus ensuring that passengers continue their journeys promptly.

“We appeal for the understanding of our valued passengers impacted by this development, as well as those on other flights that may experience delays.

“At Air Peace, we are committed to providing safe, comfortable, and reliable air travel for all our passengers.”

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NNPC achieves 1.8mbpd crude oil production

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NNPC achieves 1.8mbpd crude oil production

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).

The company which announced this at a press briefing said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.

“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we
have from the President, the Honourable Minister, and the Board,” Kyari explained.

Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.

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He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.
He stressed that when the Production War Room team was inaugurated on 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.
“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.
Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.

He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

On his part, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.

 

NNPC achieves 1.8mbpd crude oil production

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FG gets fresh $134m loan from AfDB for agric projects

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FG gets fresh $134m loan from AfDB for agric projects

The Federal Government has secured a loan facility of $134million from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country.

This is contained in a statement issued by Anthonia Eremah, Chief Information Officer, Ministry of Agriculture and Food Security, on Thursday, in Abuja.

Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made his know at the unveiling of the 2024/2025 National Dry Season Farming in Calabar, Cross River State capital.

Kyari explained that with the re-introduction of the national dry season farming to boost year-round agricultural production, the loan would be handy and guarantee national food security in the country.

The minister said the initiative is under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project.

He said the federal government had declared an emergency on food production to enable all Nigerians to get easy access to quality and nutritional food at affordable rates.

Kyari also said government wants to use the agricultural sector for national economic revival through increase in production of some staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both dry and wet season farming.

He added that 107,429 wheat farmers were supported under phase 1 of the 2023/2024 dry season, and 43,997 rice farmers under the second phase of the 2023/2024 dry season.

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The minister said recently, government supported 192,095 rice, maize, sorghum/millet, soyabean and cassava farmers under the 2024 wet season across the 37 States including the FCT.

He said Cross River was leading 16 other states in wheat production, adding that over 3000 wheat farmers have been listed to benefit from the support to grow the grain.

Kyari noted the Cross River government’s commitment to wheat production.

He said it informed why the federal government is partnering with the state to kick start the maiden wheat production and enlisting them among states commencing the current 2024/2025 dry season farming.

“The 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidised agricultural inputs.

“This is to cultivate about 250,000 hectares with an expected output of about 750,000 metric tonnes of wheat to be added to the food reserve to reduce dependence on importation of the product and also increase domestic consumption.

“Equally the programme will provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including FCT, with an expected output of about 450,000 metric tonnes,” he said.

 

FG gets fresh $134m loan from AfDB for agric projects

(NAN)

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