$29.96bn Loan: Saraki must not join Buhari to ruin Nigeria- Fayose

Governor Ayodele Fayose of Ekiti State, has urged the Senate President, Senator Bukola Saraki not to join the federal government in ruining Nigeria by supporting President Muhammadu Buhari’s request for external loan of $29.96 billion.


The governor called on the Senate President to pitch his tent with Nigerians and not because of his own personal interests thus joining Buhari to destroy Nigeria, saying, “Senator Saraki must know that no matter how much he tries to worm himself into the hearts of the Aso Villa Cabal, they can never love him and accept him into their fold.”

In a release issued by his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose asked, “what is the economic sense in taking over N12 trillion loan so as to be able to spend more money during economic recession? How can a nation be proposing to spend more money when its income has reduced considerably? “Yes, it is being argued that nations in recession must spend to get out of recession, but in the case of Nigeria, how do we pay back when as at today, 30 percent of our income is being used to service debt? What will happen to our economy when over 60 percent of our income is being used to service debt?” He said the Senate must be mindful of the reality that “many States in Nigeria are unable to pay workers salary now because of the huge debt left behind by past governments.” 

The statement read: “When the Senate unanimously threw out President Muhammadu Buhari’s request for external loan of $29.96 billion, many Nigerian heaved a sigh of relief and hailed the Senate. “However, unfolding events in the last few days suggest a dangerous alliance between the presidency and the Senate President, Bukola Saraki to ensure the approval of the $29.96 billion loan at all cost. Feelers getting to the public suggest that the ongoing Code of Conduct Tribunal (CCT) trial of Senator Bukola Saraki is being used as blackmail to get him to back the $29.96 billion loan. “Senator Saraki should be mindful that the $29.9 billion loan will do incalculable damage to the country’s ailing economy because of the amount presently being used by the federal government to service loan monthly. “Therefore, Senator Saraki must not allow himself to be seen as using the future of Nigeria as negotiation for his own interests.

 “He must know that no matter what he does to the Aso Villa Cabal to achieve their aims, it won’t change their minds concerning his travails. “He should be reminded that despite that he assisted the Aso Villa Cabal to pass the controversial 2016 budget and cleared all the ministerial nominees, they never stopped plotting to bring him down. “This time around therefore, the Senate President should be mindful of riding on the back of this political tiger that is roaring to consume everyone as he can only get momentary reprieve.


 He will eventually end in the stomach of the tiger! “Senator Saraki should remember that only the cowards die many times before their death. Even if he gives his life as ransom for President Buhari, that won’t stop his persecution. “Instead of collaborating with the Aso Villa Cabal to plunge the present and future generations of Nigerians into the bondage of debt, Senator Saraki should pitch his tent with Nigerians, who are against the $29.96 billion loan and write his name in gold, like Senator Ken Nnamani did when he rejected Obasanjo’s third term agenda.”

Africa needs more scientists for accelerated economic, social development’

Nigeria and indeed the African continent must work towards improving her stock of scientists, if accelerated growth, including economic, social and sustainable development must be witnessed.

This therefore establishes the imperative to reposition the teaching and learning of science in the country and on the continent, which is the nexus to realising this.

This was the consensus of experts who converge on the University of Lagos (UNILAG), for the yearly Science, Technology, Engineering, Medicine and Mathematics (STEMM) Festival, organised by Science Ambassadors Foundation (SAF).

The forum, which had as its theme, “Experiential Science Education: Prerequisite For Sustainable Development In Nigeria,” had over 100 public and private schools in attendance. 

Head, Polymer and Textile Technology Division, Federal Institute of Industrial Research (FIIRO), Oshodi, Lagos State, Dr. Chika Ezeanyanaso, in her keynote address, highlighted the need for government at all levels to urgently incorporate experiential science education in its educational policies and ensure its strict implementation.

Enumerating the importance of science education in our individual and national lives, she said, “Experiential science education would not only help increase scientific literacy in the country, it would also excite and enthuse children with a sense of awe and wonder at the natural world. It would make them to be proficient at practical work and use of scientific equipment; aid them to know, understand at an abstract level, and be able to apply important scientific theories. 

“For any nation, including Nigeria, to attain sustainable development, there is need to recognise science education as a priority area of education for her citizens. Science education is vital to promote a culture of scientific thinking and inspire citizens to use evidence-based reasoning for decision making. It would ensure that citizens have the confidence, knowledge and skills to participate actively in an increasingly complex scientific and technological world.
 
Country Director of SAF, Mrs. Chinyere Nnabugwu, in her presentation, said, “Advancement and growth of a country depends on trade. This has been so for ages past. The only difference is in the product or service used as a medium of exchange. In the 21st century and beyond, Information and Communications Technology (ICT) are the driving force for the vibrant economies of the industrialised nations.

“Taking a cue from most developed nations, we will discover that their curriculum and science education policy, and its implementation are key ingredients to their technological advancement.”

It is therefore key to note that some countries export human capital as a source of revenue. Looking inwards, Nigeria is blessed with resources (human and material) for the astronomical development it clamors for; the missing bridge in the equation has been the technical know-how.

“If this trend goes on unchecked, the current challenges bedeviling our economy as a dependent consuming and unproductive economy will be a joke. It is to this end that we make bold to state that our options are limited if the survival of our nation and wellbeing of our children is of paramount concern to us,” she submitted.

On the way forward she said, “We must advance activities, undertake actions, conceptualise concepts and programmes that will complement that of other stakeholders that will ideally encourage, support, and inspire, our children to explore and be engaged in prospects and platforms in the sciences to create constructive and relevant contribution to the prosperity and posterity of our people and nation.”

Lagos Key to Economic Reconstruction of Nigeria

Lagos State Governor, Mr. Akinwunmi Ambode has noted that the state was critical to the economic reconstruction of Nigeria, a role he said it had started to play as Africa's fifth largest economy.

Ambode added that Nigeria should channel her diversification efforts to basically promote Micro, Small and Medium Scale Enterprises (MSMEs), which he described as the engine of economic growth.

He made the remark at the 2016 Lagos International Trade Fair held at the Tafawa Balewa Square, Onikan recently, where he said the MSMEs "is a gold mine waiting to be fully explored in the country."

Ambode, who was represented by the Deputy Governor, Dr. Oluranti Adebule, addressed the fair alongside President of the Lagos Chamber of Commerce and Industry (LCCI), Chief Nike Akande, and the Commissioner for Commerce, Industry & Cooperatives, Mr. Rotimi Ogunleye.

He said the state government "will not stop being a pathfinder in the drive for Nigeria's economic reconstruction. With a population of 22 million, Lagos State has, over the years, amassed great public trust and investors' confidence as indicated in several world economic reports."

MMM: CBN denies approving scheme

The Central Bank of Nigeria, CBN, has again asked Nigerians to dismiss reports that it has approved the operation of Russian ponzi scheme, The Mavrodi Mondial Movement, otherwise known as MMM.

The movement is a scheme that assures up to 30% interest of money invested.

A new report circulating online claimed that participants are challenging Nigerian authorities for “poking their nose into the affairs of well meaning foreigners that have come to rescue them from money issues.

It claimed that, “CBN governor has allayed the fears of skeptical Nigerians and disclosed that thorough checks carried out on the organisation shows that it is a legitimate investment facility.

It also claimed that “A top official at the Ministry of Finance said even the federal government has invested the sum of N100b in MMM so that the interest of N30b can be reinvested in capital projects across the nation.”

Reacting, Isaac Okorafor, Acting Director, CBN Corporate Communications, told DAILY POST on Thursday that, “There’s nothing like that.”

“Nigerians should ignore any report claiming the we approved financial institutions that don’t even exist.”

Okorafor added: “I repeat, Nigerians should ignore questionable schemes”.

Recall that the Economic and Financial Crimes Commission early in the week told DAILY POST that it was carrying out surveillance on the MMM investment scheme.

Nigeria: FG to Spend N56.3 Billion On Rural Electrification

The Federal Government has said it would spend N56.3 billion ($150 million) on rural electrification in the country.

The Minister of Power, Works and Housing, Mr. Babtunde Fashola, disclosed this yesterday at a business forum on "Financing Opportunities in the Nigerian Power Sector" in Lagos.

Fashola, who promised to uphold all contractual obligations entered into by the government, said the N56.3 billion would be spent, using 44 tertiary institutions and the small hydro dams in the rural areas of the country as anchors for the programme.

The Minister said: "Any talk of cancellation of the privatization was a negative signal to investors that Nigeria has no respect for contracts and would not support that.

"If revisiting means that the operators should allow more investors into the business I am for it but with the caveat that it has to be done within the Rules of Contract, negotiation and possible arbitration".

He said government would use 44 tertiary institutions and small hydro dams in the rural areas as anchors for the electrification programme.

Fashola said the money would be deployed towards providing Independent Power Plants to supply electricity to tertiary institutions and rural communities.

Trump: Nigeria may get less grants, aids from U.S

The President, Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, says the United States of America may reduce support in terms of grants and aids to Nigeria considering the conservative orientation of the Republicans. Jacobs told newsmen on Wednesday in Abuja that it was rather early to predict what the economic outlook of Nigeria would be in respect to the U.S. election.

“It is likely that the country may receive less material, moral and political support. “Policies and programmes of the Republican government might also not be favourable to some Nigerian illegal immigrants, based on the campaign speeches of the President-elect, “Jacobs said. Jacobs said that such immigrants, especially nonprofessionals, would be a burden on the country when they return. 


According to him, Nigerians have contributed to the building of the American economy over the years, adding that Nigerian professionals had been making waves in the US. “If such professionals return to Nigeria, they will help to develop the country in various professions. “Their activities may also help to salvage the nation from the current recession and build a virile economy, ” he added. During his campaign, U.S. President-elect, Donald Trump, had taken a swipe at political leaders in Africa on account of the level of corruption and economic backwardness on the continent. 

Trump said African leaders were bad examples for leadership and recommended that the continent be re-colonised. “In my opinion, most of these African countries ought to be recolonised for another 100 years, because they know nothing about leadership and self governance.

Facts about Boko Haram and Nigeria's missing Chibok schoolgirls

The first of more than 200 abducted Chibok schoolgirls to be rescued from Boko Haram after two years in captivity in northeast Nigeria said on Tuesday that she just wants to go home.

In her first interview, Amina Ali spoke to the Thomson Reuters Foundation in the capital of Abuja, where she and her baby daughter have been held by since her rescue in May for what the government has called a "restoration process".

Ali said was not sure whether she would return to education and that she did not know when she would be able to go home.

Here are 10 key facts about the Chibok schoolgirls and the Islamist militant group Boko Haram:

Since 2009, Boko Haram has waged an insurgency to carve out an Islamic state in northeast Nigeria that has killed some 15,000 people and displaced more than two million.

The most high-profile attack took place on April 14, 2014, when Boko Haram kidnapped 276 school girls, from a secondary school in Chibok in northeast Borno state. About 50 of the girls escaped in the initial melee but 219 were captured.

Nigeria's government and military, then under the command of former president Goodluck Jonathan, faced heavy criticism for their handling of the incident, with towns and cities across the nation witnessing protests.

The kidnappings prompted a strong social media reaction, with the phrase #bringbackourgirls tweeted around 3.3 million times by mid-May 2014, and the campaign which followed backed by U.S. First Lady Michelle Obama.

Hope for the girls was briefly raised in April 2015 when the Nigerian military announced it had rescued 200 girls and 93 women from the Sambisa forest, northeast of Chibok. It was later revealed that the Chibok girls were not among them.

One of the Chibok girls, Amina Ali, was rescued in May. Held for months by the Nigerian government, she told her mother that the girls were starved and resorted to eating raw maize, and that some had died in captivity, suffered broken legs or gone deaf after being too close to explosions.

Boko Haram on Sunday published a video apparently showing recent footage of dozens of the Chibok girls, and a masked man saying some of their classmates had been killed in air strikes. In the video, unidentified bodies could be seen on the ground.

About 2,000 girls and boys have been kidnapped by Boko Haram since the beginning of 2014, according to Amnesty International, which says they are used as cooks, sex slaves, fighters and even suicide bombers.

Boko Haram used 44 children to carry out suicide attacks in West Africa last year, up from four in 2014, with some as young as eight, mostly girls, detonating bombs in schools and markets, according to the U.N. children's agency UNICEF.

Boko Haram, which last year pledged allegiance to Islamic State, controlled a swathe of land in northeast Nigeria, around the size of Belgium, at the start of 2015 but was pushed out by Nigerian and regional troops, which are now in a final push to defeat the militants.

(Writing By Kieran Guilbert, Editing by Katie Nguyen.; Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking, corruption and climate change. Visit news.trust.org)