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Borrowing To Accumulate Debt For Next Generation Is Criminal, Obasanjo Blasts

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Former President Olusegun Obasanjo has reacted to the Federal Government’s plan to source for fresh loans, saying borrowing to accumulate debt for the next generation is criminal.

Speaking to Channels Television on the sidelines of an event in South Africa, Obasanjo noted that if the existing debt is left unserviced or unpaid, it might become a problem for successive administrations.

While noting that borrowing is not a problem, the former Nigerian leader stated that what could be a problem would be what one is borrowing for and the plan or capacity to pay back.

“But if you are borrowing and accumulating debts for the next generation and the next generation after them, it is criminal. What are you borrowing for?” Obasanjo asked.

“If we are borrowing for recurrent expenditure, it is the height of folly. If we are borrowing for development that can pay for itself, that is understandable. Then the payment, how long will it take to pay itself?”

The ex-president recalled that during his tenure in 1999, the country was spending $3.5 billion to service debts that kept on increasing.

“When I came into government as elected President, we were spending $3.5 billion to service debts. Even with that, our quantum of debts was not going down.”

Nigeria’s debts have continued to rise as the Federal Government seeks foreign loans to deliver key infrastructural projects.

Five days ago, President Muhammadu Buhari wrote to the National Assembly, seeking approval to borrow fresh sums of $4,054,476,863 and €710 million in an addendum to the 2018-2020 borrowing plan.

In the letter, the President explained that owing to “emerging needs”, there is a need to raise more funds for some “critical projects”, while seeking the parliament’s nod to also approve grant components of $125 million.

The request was in a letter read by Senate President Ahmad Lawan on the floor of the upper legislative chamber on Tuesday.

In July, the national assembly approved the sums of $8.3 billion and €490 million loans contained in the initial 2018-2020 borrowing plan.

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2023: PDP Engaging In Propaganda To Discredit APC, Says Adamu

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The National Chairman of the All Progressives Congress (APC), Abdulahi Adamu, has lamented that the main opposition party, the Peoples Democratic Party (PDP), is engaging in propaganda to discredit the ruling party ahead of the 2023 elections.

Adamu stated this Tuesday when a group of APC Professionals led by former Governor of Bauchi state, Isa Yuguda, visited him at the national secretariat of the party in Abuja.

Adamu decried that most of the programmes of the APC-led administration were not getting to the grassroots because leadership at that level was driven by those who are not educated.

His words: “One thing which I want to make some reference to is the fact of the position of your forum itself. If you listen to our political activities, one thing you may wish to take a serious look at and see how best you can be of some assistance to our effort is the activity of the party at the grassroots where it mattered most.


“Leadership at this level is being driven by those who are not educated, they are very vulnerable, very, extremely vulnerable.

“So, we need to imbibe the culture of an enlightened leadership driven by knowledge. We don’t all have to be graduates or diploma holders, but an enlightened mind is open and it is a bit narrow for now. This is missing in our effort to get people to appreciate who we are as a party, what we are doing as a party, how we can be appreciated as a party


“We are having the misfortune of the effort of this government not getting to the grassroots – positive publicity of what this government is doing. All that those who care to talk want to say is about the negative aspect of government

“We know that all over the world,the opposition is seen as the underdog and so there is apparent sympathy for them. I have no quarrel with this. Go and sympathize with them but call a spade a spade. Don’t give a dog a bad name in order to hang it.

“This is what we are experiencing. This is what we are experiencing. All the good things that have happened thus far in this administration have not received the kind of publicity it deserves.”

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Why Wike Must Apologise To Amaechi -HURIWA

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Human Rights Writers Association of Nigeria, HURIWA, has told the Governor of Rivers State, Nyesom Wike to apologise to his predecessor and former boss, Rotimi Chibuike Amaechi.


HURIWA said Wike should apologise to the former Minister of Transportation for what it described as needless political war of vendetta to Amaechi, who entrusted key offices to him whilst he (Amaechi) served as Governor.

On September 14, 2015, Wike had vowed to implement the recommendations of the judicial commission of inquiry probing the sale of the State’s valued assets by the Amaechi administration.

Also, the Justice George Omereji seven-man commission of inquiry concluded its proceeding on the matter over the weekend, warning that the former Minister and some members of his administration who shunned the panel should be prepared to bear the consequences of their action.


HURIWA accused the Commission of reaching predetermined conclusions and indicting Amaechi without hearing his own side of the story.

In a statement by its national Coordinator, Comrade Emmanuel Onwubiko,, HURIWA said it thinks “the politically motivated witch-hunt using certain forces in the judiciary against Amaechi is the source of the current political troubles and ‘karma’ afflicting Wike.”

HURIWA also stated that Governor Wike, in the last eight years, has become anti-workers and dictatorial.


Wike had on Monday said that some aggrieved losers in the People Democratic Party, PDP, governorship primary for 2023 which produced former State Accountant-General, Sim Fubara as candidate, were leading an Abuja plot for his downfall.

Wike during activities to celebrate former Governor Peter Odili at 74, pointed at some of the party leaders who, on his 2021 birthday, indicated interest to fly the ticket, but failed in the end, as spearheading the gang up against him.

HURIWA counselled Wike “to put an end to his cantankerous political warfare against his kinsman- Amaechi and end his administration as a democrat and not a quarrelsome tyrant.”

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2023: My Priority Is To Market Tinubu And Not Join Issues With Peter Obi, Says Uzodinma

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Ahead of the 2023 general election, Governor Hope Uzodinma of Imo State, on Tuesday, said that he doesn’t want to join issue with the Presidential Candidate of the Labour Party, Peter Obi, insisting that his business is to market the Presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu, in the South East.

Uzodinma stated this during an interview with Channels TV’s Politics Today.

He noted that there are many loyal members of the APC in the South East who are ‘obedient’ to the party.

Uzodinma said, “I am a politician and my party is APC and I have my candidate in the party. And I know we are consulting and speaking to our people to vote for our candidate.

“I am concerned with campaigning for my party. I don’t want to join issues with Peter Obi, whom you know is not a member of my party. But I know members of APC are obedient to APC.”

The governor added, “I am very confident that the reasonable minds in Imo State will vote for my party. In 2021, I came here as a governor, 99% of our major roads were not passable. Today the major economic roads in Imo State have been managed in a very first-class manner that even the opposition party members are commending my effort.


“From 1999 to date, the members of Imo House of Assembly have no place in the state to sit. They were attached to one local government secretariat here in Owerri. The Imo House of Assembly building that was abandoned for many years has just been rehabilitated.”

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