National Issues
Pan-Yoruba group, carpets S’West governors on insecurity, charges them to empower Amotekun
Governors of the South-West States of Ekiti, Lagos, Ogun, Ondo Oyo and Osun have been accused of grossly abdicating their primary constitutional duty of protecting the lives and properties of their citizens, judging by the escalating security crisis in the region.
A pan-Yoruba group, the Majeobaje Movement, leveled the allegation in a ‘save our souls’ letter to the Chairman of the South-West Governor’s Forum and Governor of Ondo State, Arakunrin Rotimi Akeredolu, which was copied to the five other governors.
In the letter leaked to the press, the Movement described itself an alliance of professionals, entrepreneurs, policy specialists and academics concerned about and working for improved governance in Nigeria.
The group decried the spate of killings, kidnappings, rape and sundry criminal activities ravaging the region under the governors’ watch, with the attendant loss of lives of many illustrious citizens and the destruction of their livelihoods.
Majeobaje wondered why the much trumpeted South West Security Network, codenamed Amotekun, is yet to be effectively pressed into the service of protecting the lives and property of the citizens of the region, against the high expectations of the citizens.
It highlighted several unresolved security breaches in the region especially in different parts of Oyo, Ekiti, Osun, Ondo and Ogun states, which had caused anguish to many families.
The group said it is worrying that little or nothing had been done by the government of these states to mitigate the sufferings of residents in the hands of violent herdsmen, kidnappers, rapists and armed robbers or to bring the band of criminals to justice.
The group further stated, “Insecurity in the SW has now reached a crisis point, partly because the Federal Government refuses to act decisively, and also because our SW governors are failing to use Amotekun effectively.
“Because banditry has overwhelmed the Northwest, Fulani herdsmen are fleeing desertification, victims of Boko Haram in the Northeast are seeking refuge, and the unemployed from all parts of Nigeria are looking for work, these people are now streaming mostly into our SW states.
“They often do so with a high level of aggression including bearing of AK47 rifles with which our people are being raped and killed with scant regard to the sanctity of life, our culture or the rule of law.”
In a five-point recommendation, Majeobaje wants the governors to act decisively in stamping out criminal activities within the region and ensure that citizens sleep with both eyes closed, especially now that the end-of-the-year festivities have peaked.
The recommendations:
1) That the six governors should urgently allocate more funds to Amotekun so the outfit can be fully equipped and recruit more personnel to improve its operations, especially by the deployment of Surveillance Drones and Forest Rangers. The ongoing assistance to conventional security agencies should be enhanced and sustained.
2) Use new and existing laws to revamp Neighborhood Associations and to strengthen LGA Security Committees to include Traditional Rulers, Amotekun/Police and Vigilantes. These two units will help document residents, deter criminals, and collate data to monitor the activities and welfare of itinerant workers such as Okada riders, farm workers, herders and others.
3) Encourage the setting up of private security companies that will specialize in intelligence gathering services as well as the imperative use of drones for aerial surveillance and the investigation of kidnappings.
4) Set up or reboot a Security Trust Fund in each state in such a way that will encourage and compel the private sector to support with funding and management of these security initiatives.
5) Demonstrate leadership by physically leading the charge to secure your states, by mobilizing resources at the front lines, and by rekindling the hopes of our farmers, their families and other residents to demonstrate that their governors have not abandoned them to the impunities of marauding forces.
The Majeobaje Movement cautioned that ‘before Apocalypse arrives,’ Governor Akeredolu and his brother governors must urgently act so that the long suffering people of the six states are not left with no option than resort to self-help, the consequences of which can only be imagined for both leaders and the led.
The group said, “We, therefore, call on you and your colleagues to rise up today, take leadership and fulfill your primary purpose of protecting and defending the lives and properties of your people!
“If you fail to urgently do the needful by pushing back the marauders, we are concerned that our anxious people may regain their composure and be left with no other option than to defend themselves,” the group stated firmly.
Assuring the governors of their highest regard always, the letter dated 12th December, 2020 was signed on behalf of its general membership by its steering committee members including Chief Akintayo Akin-Deko, Sir Gbenga Adebusuyi, Revd. Muyiwa Bamgbose and Mr Ibukun Fakeye.
Other signatories included Dr Dolapo Sikuade, Mr Deola Kumapayi, Mr Yomi Layinka and Mr Ayo Oyerinde.
National Issues
Nigeria’s Foreign Debt Servicing Hits $3.58bn in Nine Months, Pressuring Budgets
The Nigerian government spent a staggering $3.58 billion on servicing foreign debt within the first nine months of 2024, marking a significant 39.77% increase compared to the $2.56 billion expended over the same period in 2023.
This data, drawn from a recent report on international payment statistics by the Central Bank of Nigeria (CBN), reflects a concerning rise in the country’s foreign debt obligations amid depreciating currency values.
According to the report, the most substantial monthly debt servicing payment occurred in May 2024, totaling $854.37 million. This is a substantial 286.52% increase from May 2023’s $221.05 million.
Meanwhile, the highest monthly payment for 2023 was $641.7 million in July, underscoring the trend of Nigeria’s escalating debt costs.
Detailed analysis of monthly payments further illuminates the trend.
In January 2024, debt servicing costs surged by 398.89%, reaching $560.52 million, a significant rise from $112.35 million in January 2023. However, February saw a modest reduction of 1.84%, with costs decreasing from $288.54 million in 2023 to $283.22 million in 2024. March also recorded a decline of 31.04%, down to $276.17 million from $400.47 million the previous year.
Additional fluctuations in debt payments continued throughout the year, with June witnessing a slight decrease of 6.51% to $50.82 million from $54.36 million in 2023. July 2024 payments dropped by 15.48%, while August showed a 9.69% decline compared to 2023. September, however, reversed the trend with a 17.49% increase, highlighting persistent pressure on foreign debt obligations.
With the rise in exchange rates exacerbating these financial strains, Nigeria’s foreign debt servicing costs are projected to remain elevated.
The central bank’s data highlights how these obligations are stretching national resources as the naira’s devaluation continues to impact debt repayment in dollar terms.
Rising State Debt Levels Add Pressure
The federal government’s debt challenges are mirrored by state governments, whose collective debt rose to N11.47 trillion by June 30, 2024.
Despite allocations from the Federal Accounts Allocation Committee (FAAC) and internally generated revenue (IGR), states remain heavily reliant on federal transfers to meet budgetary demands.
According to the Debt Management Office (DMO), the debt burden for Nigeria’s 36 states and the Federal Capital Territory (FCT) rose by 14.57% from N10.01 trillion in December 2023.
In naira terms, debt rose by 73.46%, from N4.15 trillion to N7.2 trillion, primarily due to the naira’s depreciation from N899.39 to N1,470.19 per dollar within six months. External debt for states and the FCT also increased from $4.61 billion to $4.89 billion during this period.
Further data from BudgIT’s 2024 State of States report illustrates how reliant states are on federal support. The report revealed that 32 states depended on FAAC allocations for at least 55% of their revenue in 2023.
In fact, 14 states relied on FAAC for 70% or more of their revenue. This heavy dependence on federal transfers underscores the vulnerability of states to fluctuations in federal revenue, particularly those tied to oil prices.
The economic challenges facing both the federal and state governments are stark. The combination of mounting foreign debt, fluctuating exchange rates, and high reliance on federally distributed revenue suggests a need for fiscal reforms to bolster revenue generation and reduce vulnerability to external shocks.
With foreign debt obligations continuing to grow, the report emphasizes the urgency for Nigeria to address its debt sustainability to foster long-term economic stability.
National Issues
Rep. Oseni Urges Urgent Action on Rising Building Collapses in Nigeria
Engr. Aderemi Oseni, representing Ibarapa East/Ido Federal Constituency of Oyo State in the House of Representatives, has called for a prompt investigation into the increasing occurrences of building collapses in major cities across Nigeria.
In a motion presented to the House on Wednesday, Oseni expressed deep concern over the alarming frequency of building collapses, emphasising the threat they pose to the lives and property of Nigerians.
The APC lawmaker, through a statement by his media aide, Idowu Ayodele, cited the recent collapse of a two-storey school building at Saint Academy in Busa Buji, Jos, Plateau State, on July 12, 2024. The tragic incident, which trapped 154 people and claimed 22 lives, is the latest in a series of similar disasters, raising serious concerns nationwide.
Oseni also referenced a report from The Punch newspaper, which revealed that Nigeria had recorded 135 building collapse incidents between 2022 and July 2024.
“This figure is alarming and unacceptable,” he stated, stressing the urgency of preventing further occurrences.
The Chairman of the House Committee on Federal Roads Maintenance Agency (FERMA), Oseni reminded the House that the Council for the Regulation of Engineering in Nigeria (COREN) and other relevant professional bodies are responsible for ensuring compliance with building standards and practices.
“Despite these regulatory frameworks, the recurring collapses suggest that enforcement is lacking. The loss of lives, properties, and resources is staggering, and this disturbing trend must be addressed immediately,” he remarked.
He proposed the formation of an Adhoc Committee to investigate the underlying causes of these collapses and recommend both immediate and long-term solutions.
Also, he urged the House Committee on Legislative Compliance to ensure swift implementation of any recommendations.
The House agreed to deliberate on the motion and is expected to present its findings and proposed actions within eight weeks.
National Issues
Corruption Among Political, Religious Leaders Stalls Nation-Building – Olugbon
The Vice-chairman of the Oyo Council of Obas and Chiefs, Oba Francis Olusola Alao, has expressed deep concern over the increasing involvement of religious leaders in material pursuits, accusing them of abandoning their spiritual duties in favour of wealth and influence.
Oba Alao, who is also the Olugbon of Orile Igbon, made this statement during a visit from the leadership of the Cherubim and Seraphim Church Movement “Ayo Ni O,” led by Baba Aladura Prophet Emmanuel Abiodun Alogbo, at his palace in Surulere Local Government on Thursday.
The monarch accused some religious leaders of sharing part of the blame for the moral and political crises that have engulfed the nation. According to him, spiritual leaders, once seen as the moral compass of society, have become compromised by corruption, aligning themselves with the very forces they should condemn.
Oba Alao was unapologetic in his criticism, stating, “Ninety-five percent of Nigerian leaders, both political and religious, are spiritually compromised.”
He argued that this moral decay among clerics has made it impossible for them to hold political leaders accountable or speak the truth to those in power, as their integrity has been eroded by their pursuit of material wealth.
“Carnality has taken over spirituality. Our religious leaders can no longer speak the truth to those in authority because their minds have been corrupted. Most of the so-called General Overseers (G.O.) are corrupt and perverted,” Oba Alao added.
He stressed that this shift towards wealth accumulation at the expense of spiritual values has greatly contributed to the country’s stagnation in development and social justice.
Olugbon urged both religious leaders and traditional rulers to reflect on their actions, reminding them that they would be held accountable for their stewardship, both in this world and the next.
“The prayers of sinners are an abomination before God, hence the need for our leaders to rethink,” he warned.
The monarch concluded by reiterating the transient nature of power and the importance of staying true to sacred duties, regardless of the temptation to indulge in worldly gains. “I am a traditional ruler. I don’t belong, and will never belong, to any occultic groups,” he emphasised, drawing a clear line between his position and the corrupt practices of some leaders.
In response to the Cherubim and Seraphim Church Movement’s request for collaboration on community development projects, Oba Alao assured them of his support.
“Your requests are aimed at the development of the Orile Igbon community. I am assuring you that necessary assistance will be provided in this regard.”
Earlier, Prophet Alogbo requested the monarch’s collaboration on a range of community development projects. These initiatives include the establishment of a women and youth empowerment center, clean drinking water initiatives, a bakery, animal production facilities, and farm produce processing.
Other proposals included a diagnostic and medical center, a full-size recreational sports facility, and a home care facility for the elderly.
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