General
SERAP Gives Govs, Wike 7 Days to Provide Details of Chinese Loans, Others
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has given the 36 state governors and the FCT Minister, Mr Nyesom Wike, seven days to disclose details of any Chinese loans, liabilities, and other external borrowing obtained.
The group requested these demands in a statement issued on Sunday by its deputy director, Mr Kolawole Oluwadare, warning that, “The failure to uphold your obligations is contrary to Section 6 of the Debt Management Office Establishment (Etc), Act, and creates financial risks and other exposure to Nigeria with respect to these Chinese loans, liabilities and other external borrowing.
It specifically wants “details of the repayment obligations regarding any Chinese loans, liabilities and other external borrowing obtained and guaranteed by the Federal Government, the interest rates on the loans, and any defaults, debt restructurings, and debt exposure to China and other creditors.”
According to the statement, the regional governments should “clarify any investment agreements with Chinese companies and repayment histories of any loans, liabilities and facilities obtained from China and other external creditors and guaranteed by the Federal Government.”
“We are concerned that your state and the FCT may have failed to efficiently manage your debt obligations, especially your external debt and investment obligations, as guaranteed by the Federal Government,” the statement read.
“These Chinese loans, liabilities, and other external borrowing by your state and the FCT may not have been used for the purposes for which they have been obtained, as well as the terms and conditions guaranteed by the federal government.
“SERAP is concerned that there is a significant risk of defaults of the Chinese loans, liabilities, and other external borrowing by your state and the FCT, which are guaranteed by the Federal Government.
“There are also significant risks of confiscation of Nigerian assets in foreign jurisdictions by multilateral and bilateral agencies and other creditors in cases of failure by your state and the FCT to satisfactorily observe and fulfil the terms and conditions of the Chinese loans, liabilities and other external borrowing which are guaranteed by the Federal Government.
“The apparent inadequacy of safeguards and accountability mechanisms for these Chinese loans, liabilities and other external borrowing may also expose Nigeria’s assets in foreign jurisdictions to confiscation.
“Your state and the FCT have a shared obligation to ensure that the spending and repayment plans of Chinese loans, liabilities, facilities and other external borrowing are consistent with the provisions of national and international standards, and to prevent or mitigate risks of confiscation of Nigerian assets abroad.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government and the FCT to comply with our request in the public interest,” the group noted.
By Modupe Gbadeyanka
About 1,000 small-scale farmers in Ogun State would be empowered with a mobile-enabled agricultural intelligence launched by MTN Foundation.
The organisation has partnered with the federal government, the Ogun State government, the National Centre for Artificial Intelligence and Robotics (NCAIR), and Huawei to introduce a digital agriculture platform known as AgriConnect.
This initiative will give the beneficiaries access to mobile-enabled agricultural intelligence and digital tools designed to enhance food production.
The selected farmers are from a state-managed database of over 160,000 registered farmers, providing them with mobile-enabled services and digital technologies supplied by Huawei.
“This initiative is intended to enhance food production, ensure food security, and boost agribusiness opportunities across the state and Nigeria at large.
“These are not just gadgets; they are tools of transformation. With this programme, we are boosting productivity, promoting efficiency, and fortifying the cassava value chain. Ogun State is proud to lead in cassava production and equally proud to lead in agricultural innovation,” the Governor of Ogun State, Mr Dapo Abiodun, stated at the launch of the scheme at June 12 Cultural Centre in Kuto, Abeokuta.
He announced the construction of a new cotton processing plant with a capacity to process 100 tons per hour, expected to generate 250,000 direct jobs and position Nigeria as a key player in the global cotton and garment industry.
The governor called on all public and private stakeholders to support the AgriConnect Initiative, stressing that Ogun State is home to the most responsible and best-organised farmers in the country.
Also speaking, the Executive Director of the MTN Foundation, Ms Odunayo Sanya, said, “We strongly believe in the power of technology to drive growth, create opportunities, and empower individuals.
“The AgriConnect Initiative embodies this belief by leveraging both global and local partnerships to provide our farmers with essential tools and resources.
“Access to real-time weather forecasts, market prices, and best agricultural practices will not only support informed decision-making but also significantly improve yields and increase farmers’ incomes.
“Ultimately, this will contribute to economic growth at both the state and national levels.
“For those unfamiliar with the MTN Foundation, since its inception in 2004, we have remained at the forefront of Nigeria’s social empowerment.
“We have invested over N32 billion in projects and interventions that align with national priorities and Sustainable Development Goals.”
By Adedapo Adesanya
Former Vice President of Nigeria, Mr Atiku Abubakar, has officially resigned his membership from the People’s Democratic Party (PDP) with immediate effect.
In a resignation letter addressed to the Chairman of PDP, Jada 1 Ward in Adamawa State, Mr Abubakar expressed profound gratitude for the opportunities offered to him by the party, including serving two full terms as Vice President and contesting twice as its presidential candidate.
Mr Abubakar, who described himself as a founding father of the PDP, stated it was “heartbreaking” to make the decision, but emphasized it was necessary due to the current trajectory of the party, which he believes diverges from its foundational principles.
“It is with a heavy heart that I resign, recognizing the irreconcilable differences that have emerged,” he wrote, wishing the party and its leadership well in the future and thanked them for their support.
His exit comes as he joins a coalition of some opposition leaders in the country which recently adopted the African Democratic Congress (ADC) to challenge President Bola Tinubu in the 2027 general elections.
The former candidate of the Labour Party, Mr Peter Obi, also indicated interest in the coalition.
Other prominent members of the coalition include former Governors Nasir El-Rufai, Mr Rotimi Amaechi, Mr Sule Lamido, Mr Gabriel Suswam, Mr Emeka Ihedioha and Mr Rauf Aregbesola, who is the national secretary of the ADC.
By Modupe Gbadeyanka
The remains of the immediate past President of Nigeria, Mr Muhammadu Buhari, have arrived in Daura, Katsina State, for burial.
The former Nigerian leader died in London on Sunday after an undisclosed illness. He was earlier planned for burial yesterday, but it was shifted to today.
The body of the late president left the United Kingdom for Nigeria on Tuesday morning, accompanied by the Vice President, Mr Kashim Shettima, the President’s Chief of Staff, Mr Femi Gbajabiamila, and some family members.
At the Umaru Musa Yaradua Airport in Katsina this afternoon, the presidential jet, which conveyed the remains of the late military general from London, landed at about 2 pm, with President Bola Tinubu on the ground to receive the convoy.
They are in the Daura residence of late Mr Buhari for the funeral according to Islamic rites.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology5 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN