Nigeria debts will rise to N38.68tn in 2021 -Minister – Newstrends
Connect with us

News

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

Published

on

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

News

Court upholds hijab rights for female Muslim students at UI school

Published

on

Muslim students at UI school

Court upholds hijab rights for female Muslim students at UI school

In a landmark ruling, the Oyo State High Court in Ibadan has affirmed the right of female Muslim students at the International School, University of Ibadan, to wear hijabs over their school uniforms.

This decision underscores the constitutional guarantee of religious freedom in Nigeria.

Justice Moshood Ishola, delivering the judgment, emphasized that the right to practice one’s religion is firmly enshrined in the Nigerian constitution. He cited precedents set by previous Supreme Court judgments to support his ruling.

The case began in 2018 when a group of Muslim students, supported by their parents, filed a lawsuit against the school management. They asserted their fundamental human right to wear the hijab as part of their school attire. The suit also named several principal officers of the school as defendants.

READ ALSO:

The plaintiffs included students Faridah Akerele, Aaliyah Dopesi, Akhifah Dokpesi, Raheemah Akinlusi, Imam Akinoso, Hamdallah Olosunde, Aliyyah Adebayo, Moriddiyah Yekinni, Ikhlas Badiru, Mahmuda Babarinde, and Fareedah Moshood. They argued that wearing the hijab is an essential aspect of their faith and should be respected by the school administration.

In his judgment, Justice Ishola noted that as a public institution, the school must accommodate the religious practices of its students. He highlighted that not only the constitution but also various international charters recognize and protect the freedom of religion and association.

“The school, its staff, or agents have no right to punish students for using hijab on the school premises or outside the school premises,” the judge stated. “Fundamental human rights are inalienable rights and cannot be taken away, even by a powerful government. The school is a public institution.”

This ruling is a significant victory for religious freedom advocates and sets a precedent for similar cases in the future. It reinforces the principle that public institutions must respect and uphold the constitutional rights of individuals, including the right to express religious beliefs through attire.

Court upholds hijab rights for female Muslim students at UI school

Continue Reading

News

You’re hypocrite, Keyamo tackles Chidoka for opposing return of Emirates Airlines

Published

on

Festus Keyamo and Osita Chidoka

You’re hypocrite, Keyamo tackles Chidoka for opposing return of Emirates Airlines

The Minister of Aviation and Aerospace Development, Festus Keyamo, has responded to Osita Chidoka, a former Aviation Minister who earlier today kicked against the resumption of Emirates Airline operations in Nigeria.

In a statement released on Wednesday, May 22, Osita Chidoka condemned the United Arab Emirates government and Emirates Airline for their “blatant attack on the dignity of Nigerians” through the unwarranted visa ban and suspension of flights.

Chidoka said the unwarranted visa ban on all Nigerians to the suspension of flights have been nothing short of a blatant attack on the dignity of Nigerians. Chidoka said the gleeful announcement of the return of Emirates Airline to Nigeria by Keyamo on X is a sad reminder of the ‘’deepening lack of national pride and the growing irrelevance of Nigeria in the world.”

In a response shared on his X handle on Wednesday evening, Keyamo likened Chidoka’s position to ‘’Hypocrisy that has never been this audacious.” He said if Chidoka wanted to display patriotism, he should have advised his principal, Atiku Abubakar, to sell off his assets in Dubai and relocate to Abuja in protest, when the ban on visas and flights was announced.

‘’Thank you, @osita_chidoka for your opinion. However, to demonstrate your patriotism, sincerity and fidelity to the touted ‘Nigerian Pride’, the big puzzle is, why did you fail to similarly advise your boss, principal and mentor ATIKU Abubakar

@atiku to immediately relocate from Dubai to Nigeria and sell off all his assets there in protest when the ban on visa and flights were announced? Hypocrisy has never been this audacious!

Again, it is curious that, as a member of the think-tank of the PDP, your election strategy at a time (popularly dubbed ‘the Dubai Strategy’) was hatched in the same Dubai and not in Nigeria before the ban was announced. Why export a purely Nigerian project to Dubai if you loved Nigeria so much?

READ ALSO:

For the avoidance of doubt, this Government is focused on fostering healthy relationships with major partners around the world for the ultimate benefits of Nigerians. Considering the huge investments and interests of Nigerians in the UAE, should we continue to engage in ‘Bolekaja’ (motor park) diplomacy capable of hurting the interests of Nigerians? Will the imminent return of Emirates to Nigeria and in reciprocal manner, AIRPEACE returning to operating that route, not lead to better competition which will ultimately crash the present high fares on that route? Who will benefit more? How many Emiratis visit Nigeria and invest here as much as Nigerians visit the UAE and invest there? Have you bothered to ask about the lifting of the visa ban before issuing your warped statement? For your information, that has been resolved too and the announcement is imminent.

Rather than craftily resorting to the card of false nationalism in pursuit of cheap political points, you should have told Nigerians the economic disadvantages Nigeria stand to suffer, if any, as a result of the commendable effort of the Tinubu administration to straighten our relations with our friends in the UAE.

I will advise your PDP to work harder to regain power in 2027 and maybe resume your hostilities with the UAE authorities thereafter.

You’re hypocrite, Keyamo tackles Chidoka for opposing return of Emirates Airlines

Continue Reading

News

Economy: FG apologises to Nigerians over pain, hardship

Published

on

President Bola Ahmed Tinubu

Economy: FG apologises to Nigerians over pain, hardship

The Federal Government has issued a public apology for the hardships being experienced by Nigerians as a result of its difficult economic policies.

It stated that it recognised the pain and difficulties faced by Nigerians due to inflation and currency devaluation.

The government expressed remorse while affirming the necessity of its policies to address underlying issues.

The apology came during a press conference held to mark President Tinubu’s one-year anniversary in office. 

At the conference, the Minister of Budget and Economic Planning, Atiku Bagudu, conveyed the government’s acknowledgment of the adverse effects of its policies on the populace.

Bagudu clarified that the administration’s actions were driven by a commitment to implementing the “Renewed Hope Agenda,” a comprehensive strategy developed through meticulous analysis and consultation with stakeholders. 

READ ALSO:

He said: “If we don’t make these decisions, we may continue to… because the experience of the nations we compete with, or aspire to emulate, shows that they made those decisions long ago and that they were important.

“To address our nation’s challenges, we are implementing the Renewed Hope Agenda, which focuses on macro-economic reforms. This is necessary because low investment, low revenues, and a shrinking economy have hindered progress in various sectors, including security, education, and social welfare. Without a macro-economic environment that stimulates investment and generates revenue, we cannot effectively address these issues.

“For example, we are currently unable to produce crude oil at the levels allowed by our OPEC quota due to underinvestment in physical infrastructure and security. By prioritising macro-economic reforms, we aim to create an environment conducive to investment and growth, enabling us to tackle the pressing challenges facing our nation.”

Despite the challenges, Bagudu reaffirmed the government’s commitment to mitigating the adverse effects of reforms, particularly through a comprehensive review of social investment programs to ensure they effectively serve the wider economy.

Economy: FG apologises to Nigerians over pain, hardship

Continue Reading

Trending

Skip to content