LEAKED DOCUMENTS ON FISCAL POLICY PROPOSALS NOT OFFICIAL
The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms.
One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were an executive order signed by President Bola Ahmed Tinubu.
The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday.
We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to reviews at the highest level of government. Indeed, one has ‘draft’ clearly written on it.
According to the Coordinating Minister of the Economy, Mr. Wale Edun, “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.
“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”
Emanating from the two documents have been reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated.
The Coordinating Minister of the Economy further clarified: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place.
“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.
“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.
“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations”.
We call on the media to always exercise necessary checks and restraints in the use of documents that do not emanate from official channels so that the members of the public are properly informed, guided and educated on government policies and programmes.
Bayo Onanuga
Special Adviser to the President on Information and Strategy
June 6, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU TO INTERNATIONAL DEVELOPMENT FINANCIERS: SEE AFRICA AS A DESTINATION FOR GROWTH AND PROSPERITY
President Bola Tinubu on Thursday in Abuja called on international development financiers to see Africa as a destination for growth and prosperity.
Speaking at a meeting with a delegation of the International Finance Corporation (IFC), a member of the World Bank Group, led by its Managing Director, Mr. Makhtar Diop, President Tinubu urged global financiers to consider more strategic investments in agriculture, infrastructure, research, and development on the continent.
“The IFC and the World Bank need to see Africa differently. I am glad an African is at the helm of affairs at IFC, and as an African, understands that the potential for growth, peace, stability, and prosperity is here.
“The world has to see us as a continent that can help the rest of the world, and not perceive us as backwards, unstable, and with leadership problems.
“The expectations of the rest of the world on Africa have to change. By looking at Africa as a potential opportunity and not a danger to the rest of the free world, we can stimulate growth and propel inclusiveness.
“You are at the helm now and in a position to change the perception. We are ready to change the narrative and work with you. Africa is open for business, regardless of whatever the perception may be.
“I am an African and proud to be and will maintain the strong position to collaborate with the rest of the world to see Africa as a destination for growth and prosperity,” the President told the IFC delegation led by the Senegal-born Managing Director.
Acknowledging that Nigeria holds the second-largest IFC portfolio in Africa with an active investment portfolio of $2.1 billion as of April 2024, President Tinubu highlighted the importance of some critical infrastructure projects embarked upon by his administration, such as the 700km Lagos-Calabar Coastal Highway and the Sokoto-Badagry Expressway.
“We have made various attempts in the past to create dams, but issues with reticulation and irrigation remain. When we consider the living conditions in rural areas where crops are produced, how much funding is allocated for rural roads to expedite transportation to consumer centres?
“The goal of the coastal road and the Sokoto-Badagry Highway is to address this,” the President said.
In his remarks, Mr. Diop informed the President that during his working visit to Nigeria, the IFC had engaged in productive discussions with Nigerian partners to enhance agriculture, increase food production through irrigation farming, upgrade transport networks, and bolster regional integration.
Expressing IFC’s long-term commitment to growing agribusiness in Nigeria, he announced that IFC has signed a $23.3 million loan agreement with Johnvents Industries Limited, a leading agribusiness for economic development and agricultural transformation, to develop the cocoa sector.
“We are supporting small and medium enterprises in the agricultural sector, and they are doing very interesting things. We need to bring in more big players into food production in the country,” the IFC Managing Director said.
Mr. Diop said the Corporation is ready to partner the Nigerian government on new investments in irrigation, road infrastructure, and logistics around the airport under a Public Private Partnership.
He congratulated President Tinubu on his one year in office and commended his bold decisions to revamp Africa’s largest economy.
He pledged IFC’s commitment to long-term investment in Nigeria, adding that its single largest investment in Africa is in Nigeria, where it has invested $1.2 billion in the fertilizer industry.
“We are here to support you. The world has been facing a lot of shocks and difficult situations which have affected many African economies,” Mr. Diop said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
June 6, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU AT INAUGURATION OF FCT ROAD PROJECT: I DO NOT HAVE A PLOT IN GUZAPE; I DO HAVE THE PEOPLE’S MANDATE TO DELIVER IMPROVED QUALITY OF LIFE FOR ALL
President Bola Tinubu says his administration is prioritizing people-focused development by providing essential infrastructure and amenities that will improve the quality of life of citizens.
President Tinubu made the remarks at the inauguration of engineering infrastructure in Guzape District Lot II.
“Minister Nyesom Wike has provided exceptional leadership at a trying time for the country. It has been a very challenging time for us in the country. We are still retooling and rejigging our financial system to bring prosperity and relief to the people of this country.
“You have demonstrated the capacity to build a team, lead a team, and deliver on promises. I commend you, well done.
“To all of you here, to the District Head of Guzape, and the representatives, litigation is not the answer. Compensation is the answer.
“Development that is focused on the people for economic prosperity and benefits is what we should pursue.
“Of what value is a swathe of land that is blocked by hills and rocks, and that is inaccessible. Let us talk to our people and come together to help build Nigeria,” the President said.
President Tinubu, who commended the contractor handling the project, Gilmor Engineering Limited, emphasized that his commitment to providing infrastructure across the country is not for personal enrichment or aggrandizement.
“I stand here as President; I do not have a plot of land here (Guzape District). But I have the people’s support and the mandate to deliver good quality of life and a living environment.
“That should be enough for all of us to share in the joy of commitment, dedication, perseverance, and the little gifts God has endowed us,” the President said.
In his remarks, the Minister of FCT, Barrister Nyesom Wike, explained that the contract initially awarded in 2003 at the cost of N14 billion was divided into Lots 1 and 2 to Messrs Dantata & Sawoe Construction Company Nigeria Limited and Messrs Gilmor Engineering Limited.
“Dantata had left the site for long. We had to bring them back after the President approved a memorandum to that effect,” Barrister Wike said.
The Minister disclosed that the development of the district, which covers 32km of road, had been fraught with litigations, which, however, did not deter the progress of the project.
He said shortly before the present administration assumed office, the cost of the project was revised to N18.17 billion.
Barrister Wike commended the President for not abandoning the project owing to his belief in government as a continuum.
“Since I assumed office as FCT Minister in August 2023, you have never interfered with our work. We are sincerely happy that you gave us the free hand to work,” he said.
The FCT Minister, who appealed to the President to name major roads in Guzape District after literary giants, Chinua Achebe and JP Clark, hinted that the ‘diplomatic area’ in the district will be completed within one year.
In a project overview, the Executive Secretary, FCDA, Engr. Shehu Hadi Ahmad said the area being developed, Guzape District Lot II, is an urban fringe area covering 620 hectares, with 129 hectares encumbered by village settlements.
He said the entire district, Lot 1 and Lot 2, was designed to provide residential, commercial, and recreational facilities covering an entire area of 1,070 hectares of land.
“The Lot 1 area covers an area of 450 hectares, whereas the Lot 2 covers 620 hectares,” the FCDA Executive Secretary said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
June 8, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU APPROVES NEW LEADERSHIP FOR NATIONAL COUNCIL ON CLIMATE CHANGE
In accordance with his commitment to actualize Nigeria’s green industrial vision, boost investor confidence, and unlock sustainable economic value through various climate finance instruments, President Bola Tinubu has approved the appointment of Dr. Nkiruka Maduekwe as the Director-General/Chief Executive Officer of the National Council on Climate Change (NCCC) in interim capacity, pending the confirmation of her appointment by the NCCC Supervisory Council.
The President has also approved that Dr. Maduekwe, 39, who holds a Bachelor of Law degree; a Master’s degree in Environmental Law & Policy from the University of Dundee (UK), and a Doctorate degree in Law from the University of Hull (UK), is to serve as the Co-Chairperson of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP).
Dr. Maduekwe has over 15 years of national and international experience in climate policy development and project implementation. She previously served as Nigeria National Coordinator, Climate Parliament. Climate Parliament is an international, multi-partisan network of legislators working worldwide to help solve the climate crisis and accelerate the transition to renewable energy.
Dr. Maduekwe was also the legal adviser to the NCCC Director-General.
Furthermore, the President has approved the appointment of Mr. Ibrahim Abdullahi Shelleng, 40, as the Senior Special Assistant to the President on Climate Finance & Stakeholder Engagement, Office of the President. He is seconded to the National Council on Climate Change (NCCC) Secretariat, where he will handle all matters related to Climate Finance & Stakeholder/Donor Relations.
The President has also approved that Mr. Shelleng is to assume the position of Secretary of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP) and serve as a member of the Presidential Committee on Climate Action and Green Economic Solutions, as well as the Presidential Steering Committee on Project Evergreen.
Mr. Shelleng, who holds a Master’s degree in Business Administration (MBA) from Ahmadu Bello University, Zaria, has served in leading roles across multiple financial institutions, and was Head of Business Development for the Nigeria Mortgage Refinance Company PLC (NMRC) before his appointment as Senior Special Assistant to the President.
The President has also approved the appointment of Mr. Olamide Fagbuji, 44, as the Senior Special Assistant to the President on Climate Technology and Operations, Office of the President. He is seconded to the National Council on Climate Change (NCCC) Secretariat, where he will oversee the digitalization of a new open procurement process and cross-departmental procedural optimization initiative.
Mr. Fagbuji served as Special Assistant to the President on Economic Matters under the previous administration, and was most recently the Technical Adviser to the Director-General of the National Council on Climate Change (NCCC) on Policy Research and Strategy. He is a policy analyst and computer scientist.
By the directive of the President, the aforementioned appointments take immediate effect.
The President expects the new appointees to bring their expertise and discipline to bear in these very important assignments in pursuance of the nation’s aspiration on green industrial development and climate action for sustainable growth and national prosperity.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
June 9, 2024
June 6, 2024
Press Conference
PDP to IGP, Arrest Mallam Hudu Yunusa Ari Now
…Asserts Delay in his Trial Creates Bad Precedence, Encourages Impunity
Gentlemen of the press, we have called you up today to update you on our demand for the prosecution of the sacked former Adamawa State Resident Electoral Commissioner (REC), Mallam Hudu Yunusa Ari. INEC Nigeria
You may recall that Mallam Hudu Yunusa Ari brazenly attempted to subvert our nation’s constitutional democratic rule by trying to install an illegal government in Adamawa State in violation of Section 1(2) of the Constitution of the Federal Republic Nigeria, 1999 (as amended).
Nigerians can still remember how Mallam Hudu Yunusa Ari on Sunday April 16, 2023 recklessly attempted to override the Will of the people of Adamawa State in the Saturday April 15, 2023 election by illegally declaring the candidate of the defeated All Progressives Congress (APC) as winner while collation of results was on-going.
For emphasis, Section 1(2) of the 1999 Constitution (as amended) provides;
“The Federal Republic of Nigeria shall not be governed nor shall any person or group of persons take control of the government of Nigeria or any part thereof, except in accordance with the provisions of this Constitution”.
The action of Mallam Hudu Yunusa Ari therefore amounted to a “civilian coup” which tried to undermined the nation’s sovereignty, triggered serious crisis in Adamawa State and threatened national peace and security.
You may also recall that since after his removal by the Independent National Electoral Commission (INEC) and the declaration of Governor Ahmed Fintiri at the end of collation as the lawful and duly elected Governor of Adamawa State, Mallam Hudu Yunusa Ari has been on the run.
However, time they say, does not run against the State in criminal matters. Such subversive conduct cannot go unpunished and our Party is determined to pursue the matter to its logical conclusion.
Nigerians are invited to note that the High Court of Justice of Adamawa State, No. 9, Yola Division has issued a Warrant of Arrest of Mallam Hudu Yunusa Ari dated May 21, 2024, wherein it ordered the Inspector General of Police to apprehend and produce Mallam Hudu Yunusa Ari to appear before it to answer to the charges preferred against him.
The said Order of Court was received at the Office of the Inspector General of Police on May 23, 2024.
The delay in the prompt and diligent prosecution of Mallam Hudu Yunusa Ari for his alleged criminal conduct constitutes a clear and present danger to our Democracy and the Rule of Law that nobody is above the law.
The failure of the Nigerian police so far to apprehend and bring Mallam Hudu Yunusa Ari to justice is capable of creating a bad precedence and encourage other public officers to act with impunity, behaving as if there are no consequences for acts contrary to law and their Oath of Office.
The PDP therefore charges the Inspector General of Police to, in compliance with the Order of Court, immediately fish out, arrest and bring Mallam Hudu Yunusa Ari before the Court for prosecution.
This is especially as there are allegations and apprehension in the public space that Mallam Hudu Yunusa Ari has perfected plans to escape from the country and evade trial.
The PDP insists that Mallam Hudu Yunusa Ari must be made to face the full wrath of the law for his assault against our democracy.
Thank you for listening and God bless Nigeria.
Signed:
Hon. Debo Ologunagba
National Publicity Secretary
June 7, 2024
Press Statement
PDP Constitutes Ebonyi State Caretaker Committee
The National Working Committee (NWC) of our great Party, the Peoples Democratic Party (PDP) has on behalf of the National Executive Committee (NEC) pursuant to Section 29(2)(b) of our Constitution (as amended in 2017) approved the composition of Ebonyi State PDP Caretaker Committee to run the affairs of the Ebonyi State Chapter of our Party.
The Ebonyi State Caretaker Committee is charged with the responsibility of running the affairs of the Party in Ebonyi State as stipulated in Section 21(2) (a-b) of our Party’s Constitution for a period not exceeding 90 days (three months) or until a new Executive Committee is elected.
Members of the Committee are as follows:
1 Barr. Steve Oruruo – Chairman
- Barr. Jude Omoha – Member
- Francis Ibiam – Member
- Ude Akaji – Member
- Chief Godwin Nwode – Member
- Hon. Amechi Oken – Member
- Chief Christopher Elechi Ngwuta – Member
- Dave Odey – Member
- Hon. Ezekiel Igede – Member
- Hon. Chika Nwoba – Member
- Hon. Emmanuel Uka A. – Member
- Engr. Edward Ifeanyi Odanwu -Member
- Okoro Monday Ogbonnaya – Member
- Hon. Mark Onu – Member
- Barr. Pascal Ukwuani – Secretary
The NWC charges all leaders, critical stakeholders and teeming members of our Party in Ebonyi State to remain united and continue to work together for the progress of the Party in the State.
Signed:
Hon. Debo Ologunagba
National Publicity Secretary
SERAP sues Tinubu govt over failure to account for loans by ex-presidents
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the government of president Bola Tinubu “over the failure to publish spending details of the loans obtained by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.”
The suit was filed against the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Debt Management Office (DMO).
In the suit number FHC/L/CS/353/2024 filed last Friday at the Federal High Court, Lagos, SERAP is asking the court to “direct and compel the Tinubu government to publish the loan agreements obtained by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.”
SERAP is also asking the court to “direct and compel the Tinubu government to publish the spending details of any such loans, including the interests and other payments so far made on the loans.”
In the suit, SERAP is arguing that, “No one should be able to pull curtains of secrecy around decisions on the spending of public funds which can be revealed without injury to the public interest. Democracy requires accountability and accountability requires transparency.”
SERAP is also arguing that “The Tinubu government should make it possible for citizens to have access to the agreements and spending details to judge whether their government is working for them or not.”
According to SERAP, “The information may help to explain why, despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.”
SERAP is arguing that, “Nigerians’ right to a democratic governance allows them to appreciably influence the direction of government, and have an opportunity to assess progress and assign blame.”
SERAP is also arguing that, “The accountability of government to the general public is a hallmark of democratic governance, which Nigeria seeks to achieve.”
The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “Publishing the loan agreements would improve public accountability in ministries, departments and agencies (MDAs).”
“Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.”
“Publishing the agreements and spending details would allow the public to see how and on what these governments spent the loans and foster transparency and accountability.”
“Publishing the loan agreements signed by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari, and widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.”
“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s is N97.3 trillion ($108 billion). The Federal Government’s debt is N87.3 trillion ($97 billion).”
“Nigeria paid $6.2 billion in 2019 as interest on loans while the country paid $6.5 as interest in 2018. Nigeria also paid $5 billion as interest on loans in 2017 while the country paid $4.4 billion as interest in 2016. For 2015, the interest paid on loans was $5.5 billion.”
“Substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.”
“Persons with public responsibilities ought to be answerable to the people for the performance of their duties including the management of the loans obtained between May 1999 and May 2023.”
“The Tinubu government has a responsibility to ensure transparency and accountability in how any loans obtained by the Federal Government are spent, to reduce vulnerability to corruption and mismanagement.”
“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including to copies of the loan agreements obtained by successive governments since 1999.”
“By the combined reading of the provisions of the Constitution of Nigeria, the Freedom of Information Act 2011, the International Covenant on Civil and Political Rights, and the African Charter on Human and Peoples’ Rights, there are transparency obligations imposed on the Tinubu government to widely publish the agreements and details of the projects on which the loans were spent.”
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their government’s activities.”
No date has been fixed for the hearing of the suit.
Kolawole Oluwadare
SERAP Deputy Director
9/06/2024
Lagos, Nigeria
Emails: info@serap-nigeria.org; news@serap-nigeria.org
Twitter: @SERAPNigeria
Website: www.serap-nigeria.org
For more information or to request an interview, please contact us on: +2348160537202
