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Centre Laments World Bank Report On Nigeria, Demands Freeze On Borrowing

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The Centre for Fiscal Transparency and Integrity Watch (CeFTIW) has expressed concerns over Nigeria’s fiscal condition.

The organisation wants a freeze on borrowing for consumption purposes, demanding loans obtained be channelled to capital projects and the production sector.

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A statement on Thursday by Public Relations Officer, Victor Agi reacted to the latest World Bank Macro Poverty Outlook for Nigeria.

It described the nation’s fiscal condition as “a more fragile position than before the late 2021 global oil price boom,” and put the poverty rate at 41.1%.

READ ALSO: Oil-producing States Borrow N1.3tn Amid N6.4tn Windfall

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The report revealed that 96.3 percent of the revenue generated in 2022 was used to service debt, worsening the public debt profile.

The CeFTIW called for the suspension of the federal government’s move to borrow $800 million to distribute as a palliative to cushion the effect of subsidy removal.

Agi noted that adding more to the country’s debt stockpile will continue to frustrate meaningful efforts to grow the economy.

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Nigeria’s debt was $103.11 billion or N46.25 trillion as of December 2022, according to figures by the Debt Management Office (DMO).

READ ALSO: Buhari To Borrow N819.5 Billion To Finance 2022 Supplementary Budget

The figure may hit N77 trillion by the end of the Buhari administration if the Ways and Means Advances from the Central Bank of Nigeria (CBN) and other loans included.

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“The Centre is bothered by the consistent revenue shortfalls. Despite the deregulation of the oil sector, the cost of petrol imports continues to rise with no solution in sight.

“This is amidst promises of revamping refineries to boost local production. The inability to address the lingering cases of oil theft, diversify the economy, and monetary policy somersault has put the country on edge.”

The statement said it was against further borrowing after assessing Social Investment Programmes (SIPs) such as the COVID-19 stimulus package, which reportedly gulped N2.3 trillion.

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READ ALSO: DMO Clarifies Alleged N2trn FG Borrowing

It also listed Tradermoni, Conditional Cash Transfer (CCT), Government Enterprise and Empowerment Programme (GEEP) and school feeding.

The SIPs reportedly cost Nigeria about $1 billion annually, according to the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq.

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“The fact that there has been no commensurate impact on the living standards of Nigerians puts the transparency and accountability of the programmes into question.

“Citizens doubt the planned payment of N5,000 to 10,000 households, over a period of six months with the new loan, will be any different from previous interventions,” Agi noted.

The CeFTIW further demanded fiscal prudence in government activities and the entrenchment of strong measures to curb corruption and resource wastage.

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INEC CVR: CSO Expresses Worry Over Poor Deployment Of Machines, Manpower To LGs In Edo

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By Joseph Ebi Kanjo

Edo Civil Society Organisations (EDOCSO) has expressed worry over the poor deployment of capturing machines and manpower to Igueben Local Government Area of the state by the Independent National Electoral Commission (INEC) in the ongoing Ongoing Continuous Voters Registration (CVR).

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The Coordinator, EDOCSO, Igueben Study Centre, Leftist Enabulele Larry, and Secretary, Leftist Mark Akande expressed the CSO sentiment when the duo visited the INEC headquarters in Igueben where the CBR in the local government is taking place.

In a statement made available to INFO DAILY on Friday, the leadership of EDOCSO, Igueben Study Centre condemned the “use of only two capturing devices in a local government with over 69, 396 in population.”

READ ALSO:Things To Know As INEC Begins Physical Voter Registration Monday

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The duo noted in the statement that their findings at the INEC headquarters revealed two capturing machines were deployed to each local government across the 18 local government areas of the state.

The civil society members said INEC excuse of deploying two capturing machines to each local government was not germane enough because many do not have a computer or android phone to do the online registration INEC gave as an excuse.

The question here is, what is the percentage of our people mostly the aged individuals, that have access to Android mobile and other internet gadgets in Edo state?

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READ ALSO: ADC: Why INEC Has Not Recognised David Mark, Others

“How many people can afford internet data to enable them have access internet services in Edo state under the current excruciating economic pains by the people?

“How many of the Edo people can even manipulate the Android mobile phone to the extent of navigating the internet hurdles to undertake the job is INEC? If INEC is not ready for the job, they should tell Nigerians.

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“If citizens are now advised to individually undertake the statutory job of INEC, of what purpose does the commission serve to the people? etc,” they said.

As at when filing this report, INFO DAILY was yet to get a reply from the message sent to the INEC in Edo for reaction.

 

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Edo Sports Commission Boss Celebrates Okpehbolo On Birthday

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The Executive Chairman of the Edo State Sports Commission, Hon. Amadin Desmond Enabulele, has felicated with Governor Monday Okpebholo, on the occasion of his birthday.

In a statement issued on Friday by his Media Officer, Edoko Wilson Edoko, Enabulele Okpebholo as a visionary leader whose dedication to the growth and development of the state has continued to inspire confidence and admiration across all sectors, especially sports.

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Enabulele, who highlighted the governor’s unwavering commitment to youth empowerment through sports development, noted that under his leadership, Edo State has witnessed significant strides in grassroots sporting initiatives and infrastructure.

READ ALSO: Enabulele Confident Of Team Edo’s Success At 2025 NYG

His Excellency, Senator Monday Okpebholo, is not just a political leader but a beacon of hope for the younger generation.

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“His passion for excellence and inclusive governance is evident in the way he has continued to support policies that uplift our youths and promote sporting excellence,” the statement read.

The Executive Chairman prayed for long life, good health, and continued wisdom for the governor as he steers the affairs of the state towards greater prosperity.

“On behalf of the entire Edo State Sports Commission, I extend our warmest birthday wishes to His Excellency at 55. May this new chapter of his life be filled with more accomplishments and divine grace,” he added.

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Oba Of Benin Suspends Palace Chiefs

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The Oba of Benin, Ewuare II, has suspended two of his chiefs for falling for dereliction of duties.

This was contained in a statement signed by the Secretary to the Benin Traditional Council (BTC), Frank Irabor and made available to journalists in Benin City.

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He said their suspension was as a result of their long absence from the palace, resulting in their failure to carry out their palace responsibilities.

The suspended persons are: Chief John Igiehon, the Izuwako of Benin and chief Aimiukpomonyako Oghogho (Ebengho), the Oyenmwensoba of Benin.

READ ALSO: Oba Of Benin Suspends 67 Dukes

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“The under-mentioned two (2) chiefs have been suspended from the Palace of the Oba of Benin.

“This is as a result of their long absence from the Palace, resulting in their failure to carry out their Palace responsibilities.

“The public is advised to be wary of unscrupulous chiefs that are no longer functioning in the Palace. His Royal Majesty has approved their _ Suspension and directed the public be duly informed. 

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“The names of the chiefs are: – ; 1. CHIEF JOHN IGIEHON, THE IZUWAKO OF BENIN and, _ 2 CHIEF AIMIUKPOMONYAKO OGHOGHO (EBENGHO), THE OYENMWENSOBA OF BENIN”, the statement said.

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