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Akpabio reveals how FG achieved peace in Niger Delta

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Sen. Godswill Akpabio

The Minister, Niger Delta Affairs Ministry, Senator Godswill Akpabio, has disclosed that strategic meetings, consultations with Stakeholders in the Niger Delta Region, coupled with the support of the Federal Government has led to the current peace and stability being enjoyed in the region.

Akpabio stated this in his remarks, at the Special Stakeholders Dinner, organized by the Harvest Committee of the Methodist Church Nigeria, Cathedral of Unity, held at the Hilton Hotel, Abuja, the nation’s capital, on Saturday.

Represented at the event by his Chief of Staff, Sir Etekamba Umoren, Akpabio said, ” In my search for peace, I have traversed the length and breadth of the Niger Delta Region meeting various stakeholders, in some instances, in the midst of clamour for hostilities, from Bakassi to Okrika, to Ogoni Land, Yenagoa, Warri, Gbaramatu,  all in an effort to ensure peace”.

According to the former Senate Minority Leader, “We have also held various stakeholders’ engagements through the office of the Minister of State of the Ministry of Niger Delta Affairs with different Host Communities, all geared towards ensuring lasting peace in the region.

“The efforts of the Ministry with that of the Niger Delta Development Commission (NDDC), the Presidential Amnesty Program and those of the Youth Leaders of the United Ethnic Nationalities Forum have collectively helped to engender better understanding of issues and government policies resulting in the Region being the most peaceful in the country today.

“I am delighted to stand before this August gathering as I make my remarks on the ongoing discussions by the Methodist Church Nigeria, gearing towards inculcating a Culture of Peace and Unity in Nigeria.”

Speaking further, the former governor of Akwa Ibom State noted that “ the topic, “Building A Culture of Peace and Unity in Our Country” is very apt, considering the challenges of the times and the surreal manifestations of contemporary Society.”

Akpabio congratulated the organisers of the event, saying, “Permit me to congratulate the Methodist Church Nigeria for coming up with this programme. It is reassuring and rightly so, as this Dinner provides a veritable platform for all of us to cross-fertilize ideas which will engender peace and unity for our Country and the entire world.

“The Church and Government have inseparable mandates to ensure peace and unity among the people. Nigeria’s National Anthem is unequivocal its tenor; reflecting the spirits of the founding fathers of our Country and all patriotic Nigerians.  It professes all compatriots “one nation, bound in freedom, peace and unity”, setting the tone for tonight’s dinner theme.

“It is worthy of note that Methodism has consistently reflected the lives, times and great contributions of John Wesley, whose labour of love is evidenced in the spread of the gospel of Jesus Christ beyond leaps and bounds.

“However, Peace is a state of mind reflecting the interaction of socio-economic and political forces in the realization of the overall wellbeing of man.  It implies the harmony of people and their relationship with society. It is a state of perpetual liberty and freedom from oppressive and unpleasant thoughts and emotions.”

Akpabio noted further that despite the current challenges facing the country, the Buhari-led administration was doing its utmost to bring the situation under total control saying, ” I am confident that with the efforts of the current administration under the leadership of President Muhammadu Buhari, we would soon overcome this national nightmare.

” No part of Nigerian landscape is under the control of insurgents, a far cry from what this administration met on ground in 2015. The Government alone cannot make this peace possible if we, as communities, religious and political leaders as well as citizens refuse to watch each other’s back.

“I urge all of you gathered here in the name of our Lord Jesus Christ to love one another; working for the peace and unity of our dear Country.

“Therefore, for me, the unity of Nigeria and its cohesive existence is not negotiable. But let me once again thank the Methodist Church Nigeria for organizing this gathering.  This dinner is a classic example of how we should relate with one another despite religious differences.  It is indeed a great delight to have His Highness, Alhaji Nasir Ado Bayero, the Emir of Bichi, a Muslim, and a true believer in the oneness of Nigeria as the Special Guest of Honour at this occasion tonight, ” he submitted.

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National Issues

Nigeria’s Foreign Debt Servicing Hits $3.58bn in Nine Months, Pressuring Budgets

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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.

 

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Rep. Oseni Urges Urgent Action on Rising Building Collapses in Nigeria

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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.

 

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Corruption Among Political, Religious Leaders Stalls Nation-Building – Olugbon

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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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