General News

Obaseki: Buhari Ordered Printing Of N60bn For States

Published

1 year ago

April 10, 2021

Obaseki: Buhari Ordered Printing Of N60bn For States

Governor Godwin Obaseki of Edo State has revealed that the Federal Government on the order of President Muhammadu Buhari, printed N60 billion as part of the allocation to states.

Obaseki made this known at the Edo state transition committee stakeholders engagement, which held on Thursday, April 8, 2021.

While lamenting the deteriorating condition of the Nigerian economy, Obaseki maintained that things have changed, and the economy is no longer what it used to be.

Obaseki said Nigeria’s rising debt profile is alarming, adding that the dependence on crude oil is no longer sustainable.

In his words, “Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil every day.

“So we have run a very strange economy and a strange presidential system where the local, state, and federal government, at the end of the month, go and earn a salary. We are the only country in the world that does that.

“Everywhere else, the government relies on the people to produce taxes and that is what they use to run the local government, state, and the federation.

“But with the way we run Nigeria, the country can go to sleep. At the end of the month, we just go to Abuja, collect money and we come back to spend. We are in trouble, huge financial trouble.

“The current price of crude oil is only a mirage. The major oil companies who are the ones producing are no longer investing much in oil. Shell is pulling out of Nigeria and Chevron is now one of the world’s largest investors in alternative fuel, so in another year or so, where will we find this money that we go to share in Abuja?”

He further expressed worry that the country has continued to borrow despite unclear means of refunding payments.

The governor said the government must live up to its social contract with citizens.

“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share.

“This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16 trillion. Imagine a family that is just borrowing without any means to pay back and nobody is looking at that, everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician,” Obaseki added.

Related Topics:Featured Godwin Obaseki President Muhammadu Buhari

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General News

Kumuyi Bows To Pressure As He Cancels Crusade Over Threat

Published

4 hours ago

May 22, 2022

Tunde Osunfemi

Kumuyi Bows To Pressure As He Cancels Crusade Over Threat

Pastor William Kumuyi of the Deeper Life Bible Church, has finally cancelled the planned crusade in Aba, Abia State.

Kumuyi was said to have cancelled the crusade over rising insecurity and the threat he got since the crusade was announced.

The crusade was scheduled to hold in Aba from Tuesday, May 24, 2022, to Sunday, May 29, but the proscribed Indigenous People of Biafra (IPOB) warned the 80-year-old cleric not to go ahead with it.

Confirming the cancellation, Kumuyi promised to communicate a new venue and date for the crusade to hold.

Also, the Chairman of the crusade’s organising team, Pastor James Akpofure, corroborated the development in a statement.

“As there are currently some security challenges at the intended alpha location (Aba, Abia State, Nigeria), the Global Crusade Convener, Pastor (Dr) W.F. Kumuyi commiserates with our people in Abia State and will be praying along for God’s Divine Intervention,” Akpofure said.

General News

ASUU Strike: Latest ASUU News Roundup For Saturday 21st May 2022

Published

1 day ago

May 21, 2022

Gabriel Adegoke

Good day, here are the latest ASUU news headlines updates for today, Saturday, May 21st, 2022, on Newsrand.

1. ASUU To End Strike As FG Begins Payment Of Arrears

The Academic Staff Union of Universities (ASUU), and the Academic Staff Union of Polytechnics (ASUP), may soon end their ongoing strike, as the Federal Government begins the payment of their minimum wage arrears.

The payment of minimum wage arrears, Newsrand, understands is part of move to put an end to the strike.

2. ASUU, FG To Resume Talks Over Ongoing Strike

The Academic Staff Union of Universities (ASUU), and the Federal Government (FG) may meet on Monday, May 16, 2022, to resume talks over the ongoing strike.

The Chairman of the Federal University of Technology, Minna chapter of ASUU, and member of the union’s National Executive Council (NEC), Dr. Gbolahan Bolarin, disclosed this in an i

3. ASUU Extends Strike

The Academic Staff Union of Universities (ASUU), has extended its ongoing strike for another 12 weeks.

In a statement signed, ASUU president, Prof. Emmanuel Osodeke said the strike extension became effective from Sunday, May 8, 2022, adding that the union took this decision after its National Executive Council (NEC) meeting which started at the Comrade Festus Iyayi National Secretariat, University of Abuja.