Connect with us

News

2022 Budget: Reps Fear Economy Collapse, Say Debt Servicing Too High

Published

on

As the legislative debate on the 2022 budget, which was presented to the joint session of lawmakers by President Muhammadu Buhari last week continued on Wednesday, members of the House of Representatives expressed concerns over the high rate of debt servicing.

While each lawmaker took turns to speak on the highlight of the budget which stood at N16.39 trillion, they maintained that the proposed budgetary provision for debt servicing was 25 per cent of the entire budget, saying it was on the high side.

Those who spoke extensively on the worrisome debt servicing was the Chairman of the House Committee on Judiciary, Hon. Luke Onofiok who observed that the sum of N3.9 trillion for debt servicing representing about 25 percent of the whole budget was worrisome.

He called for a downward review, stating that Nigeria was too fragile to service debts at that high rate, given that the nation was still facing the COVID-19 challenges.

On the external and internal borrowing to service budget deficits, he posited: “Another source of concern is that the proposal before us has a deficit of N6.2 trillion and the government is proposing new borrowings to finance this deficit.

“What this implies is that the total public debt of Nigeria is expected to rise to N5 trillion in 2022 fiscal year. This is worrisome not only for today but generations unborn and the future of Nigeria.”

He called on lawmakers to reduce the borrowing or the executive should assure the parliamentarians that the borrowing was production and not consumption.

He argued that it would be inappropriate to borrow and leave debt for generations yet unborn, stressing that if it’s put into production with expected income, there won’t be any concern.

READ ALSO: Mikel Obi Reveals Player Who Helped Him At Chelsea

The lawmaker called for deliberate funding of power and road infrastructure, saying: “While we put the money borrowed to infrastructure three clear things come to mind. We have looked at security. We need to invest in power. Let us borrow to invest in power and roads. We have road challenges across the country. Let me use for instance Mr. Speaker, the Calabar-Itu road that area is being cut-off.

“People spend 8 hours on the road. And we have seen something less than a billion naira allotted to that road in the different lots that have been given. That is quite inadequate. We have to invest in our roads and in our public transportation.”

House Minority leader, Ndudi Elumelu, spoke on the high rate of debt servicing, noting that the nation can’t afford such at this time.

(DAILY POST)

News

UNIOSUN Appoints First Female Registrar In 18 Years

Published

on

By

The Governing Council of Osun State University on Friday announced the appointment of Mrs. Atinuke Oguntunde as the institution’s third substantive Registrar.

Oguntunde’s appointment, being the first female to be appointed Registrar was coming after 18 years of the establishment of the university.

The institution was established by the Osun State Government during the administration of Olagunsoye Oyinlola on December 21, 2006 and it has had two substantive male Registrars.

Also appointed were; Mr. Muideen Lasisi, who got appointed as the 3rd substantive Bursar, and Dr. Olugbenga Adewuyi, who was appointed 3rd substantive university Librarian.

READ ALSO: Drama As Two Ebonyi Commissioners Fight In Public

A release issued by the University’s Public Relations’ Officer, Ademola Adesoji, further disclosed that the appointments were approved by the Governing Council at its special meeting on Friday, following the completion of the selection processes and the recommendations of the Selection Panel.

Giving further details about the appointees, Adesoji said, “Mrs. Atinuke Oguntunde (native of Ilesha), the newly appointed Registrar, will bring a wealth of experience and expertise to her new role. Previously serving as the Deputy Registrar and College Secretary at the University’s College of Health Sciences. Mrs. Oguntunde has demonstrated exemplary leadership and dedication throughout her services in the University system.

“Her academic qualifications include a B.A.(Ed.) in English Education from the University of Ilorin and an M.A. in Literature in English from the same institution.

READ ALSO: Police Rescue Three Toddlers Locked Up In Lagos Home

“Mr. Muideen Akintayo Lasisi (native of Ido-Osun) was until his appointment a Deputy Bursar at the National Open University of Nigeria. With a career spanning over two decades in finance and accounting, Mr. Lasisi’s appointment underscores UNIOSUN’s commitment to financial prudence and accountability. He holds academic qualifications including an HND in Accountancy from Osun State Polytechnic, a B.Sc. in Accounting from the University of Lagos, and an M.Sc. in Entrepreneurship from the National Open University of Nigeria.

“Dr. Olugbenga Wale Adewuyi (native of Ila Orangun), the newly appointed University Librarian, will bring his wealth of academic and professional experience to his new role. Dr. Adewuyi is renowned for his scholarly contributions and commitment to advancing library sciences and administration. He holds academic qualifications that include a B.A. in Dramatic Arts from Obafemi Awolowo University, an M.Sc. in Library Studies from the University of Ibadan and a Ph.D. in Library and Information Science from Babcock University.”

UNIOSUN Vice-Chancellor, Prof. Clement Adebooye, while reacting to the appointments, stated that it marked a significant milestone in the institution’s journey towards academic excellence and institutional advancement.
PUNCH

Continue Reading

News

Alaafin: Kingmakers Appeal As Court Strikes Out Case Against Makinde

Published

on

By

Oyo State High Court sitting in Awe, Oyo State, has struck out a case filed by the Oyo kingmakers ( Oyo Mesi) against the state governor, Seyi Makinde, the state Attorney General and the Commissioner for Local Government and Chieftaincy Matters on the vacant stool of Alaafin of Oyo over administrative defect.

The PUNCH reports that the stool became vacant after the death of the late Alaafin of Oyo, Oba Lamidi Adeyemi III, who died at the age of 82 and ruled for 52 years.

The claimants in the suit no HOY/14/2023 are the Bashorun of Oyo, Chief Yusuf Layinka; Lagunna of Oyo, Chief Wakeel Oyedepo; Akinniku of Oyo, Chief Amusa Yusuf; Areago Bashorun, Chief Wahab Oyetunji and the Alapo of Oyo, Chief Gbadebo Mufutau.

They were seeking court injunction restraining Makinde and his agents from overruling their choice on the selected candidate for the vacant stool.

READ ALSO: Drama As Two Ebonyi Commissioners Fight In Public

According to them, “due diligence was followed in the selection/appointment of the candidate for filling the vacant stool of Alaafin of Oyo duly conducted by the kingmakers of Alaafin of Oyo Chieftaincy.”

While ruling on the notice of preliminary objection as filed by the defendants, on Tuesday, Justice Ladiran Akintola said there was no proof of service to notify the governor of the outcome of the selection process as carried out by the kingmakers.

The failure to serve the notice of the outcome on the governor thereby affects the substantive case, and as such, the case was struck out.

It was stated in the ruling that, “This court found merit in the Notice of Preliminary Objection filed by the defendants/applicants against the claimants/respondents in this case.

“The same succeeds, accordingly all the issues raised for determination of this court by learned counsel on both sides are thereby resolved in favour of the defendants/applicants but against the claimants/respondents.

READ ALSO: [JUST IN] Alaafin: Kingmakers Absent As Court Strikes Out Suit Against Makinde

“Consequently, the suit initiated by the claimants/respondents in this case against the defendants/applicants is thereby struck out.”

In a telephone interview with The PUNCH, on Friday, the lead counsel for the claimants, Kunle Sobaloju (SAN) said a notice of appeal and motion for injunction pending an appeal have been filed at the Court of Appeal and Oyo High Court, respectively.

Commenting on the judgment, Sobaloju said the judgment that was passed, on Tuesday, was on a preliminary objection filed by the defendant which is the Governor of Oyo State, Attorney General of the state and Commissioner for Local Government and Chieftaincy Matters.

He said, “By that preliminary objection after we filed our case which they challenged against on the ground that we did not comply with the condition precedence of filing an action of that nature.

“According to them, what was the condition precedence, they said the Secretary of the Local Government, Atiba Local Government did not notify the governor of the Oyo Mesi on the selection of Prince Lukman Gbadegesin as the candidate to fill the stool of Alaafin of Oyo.

READ ALSO: JUST IN: Oyo Indigenes Protest Delay In New Alaafin’s Appointment

“Our response to that objection is to the effect that that duty is imposed on by the law, that is Section 19 of the Chieftancy Law on the Secretary to the Local Government and not on the kingmakers and we exhibited evidence that the kingmakers forwarded their decision to the Secretary of Atiba Local Government.

“We also exhibited a letter from the Secretary of Atiba Local Government acknowledged by the Ministry of Local Government and Chieftaincy Matters. That is the only means to which the governor can be involved. You can not go to the governor and serve him directly.

“We also argued that even the issue is an issue of evidence that the governor can only prove whether he was served or not with proof of evidence. It is not the issue that the court can determine by way of preliminary objection.

“However, it is the failure to serve the notice of the decision of the kingmakers on the governor that affects our case, and as such, it was struck out.

“We have filed a notice of appeal and motion for injunction pending an appeal. What was considered on Tuesday was the notice for preliminary objection. The merit of the case is yet to be considered.”

Continue Reading

News

Drama As Two Ebonyi Commissioners Fight In Public

Published

on

By

Two commissioners from Ebonyi State reportedly fought shamelessly in public during the defection ceremony of chieftains of the PDP into the APC held at Ebiaji, Ezza North Local Government Area of Ebonyi State.

The two commissioners Victor Chukwu, Commissioner for Environment and Jude Okpor, the Commissioner for Information, engaged in the fight which attracted the attention of the state party chieftains from the area.

An eyewitness who identified his name as Nwite told Vanguard that the two commissioners, not minding their social status, engaged themselves in fierce fight which took the intervention of some stakeholders and security agents to stop the fight.

READ ALSO: Man Sets Self On Fire Outside Trump Trial Venue

“Nobody told me anything about it. I saw everything myself. I don’t know the cause of their fight but they fought and this is the 5th fight between them”, he aid.

As a leader of thought in my place, this is embarrassing to me, our people and the people of Ebonyi State. It happened during the defection of some people into APC at Ezza North.

“It was a very big fight and it was not hidden”, he added.

The two Commissioners who are said to be stakeholders in their various communities had a field day as they reportedly exchanged blows, not minding those that were watching them.

 

 

Continue Reading

Trending

Exit mobile version