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Edo PDP Knocks FG, Says Economy In Dire Need Of Surgical Operation

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The Peoples Democratic Party, PDP, in Edo State has joined voice with the state governor, Mr. Godwin Obaseki on the state of the nation’s economy, saying the economy is in dare need of surgical operation.

Governor Obaseki had recently alleged that the Federal Government printed about N60 billion to augment allocation shared to states in the month of March.

He went further to say that by December this year, the country’s total borrowing would be in excess of 15 to 16 trillion.

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Giving credence to the Governor’s claim, state chairman of the PDP, Dr. Tony Aziegbemi, in a media briefing on Friday in Benin said Obaseki only sounded a wake-up call for all Nigerians including himself.

READ ALSO: PDP Chieftain Mocks APC, Says Party May No Longer Exist Before 2023

The PDP Chairman who furnished journalists with data and graphical illustration on the state of the nation’s economy in a video slide, expressed worry that in spite of the pitiable state of the economy the government of the day has no plan of getting things better.

Aziegbemi who owns Doctorate Degree in economics raised the alarm that Nigeria’s debt rate has rised to a frightening sum of N32tr, just as he added that the Federal Government fund the annual budget through borrow, deficit and printing of money.

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“As we speak, the debt of crude oil is N32tr. So, we are piling debt hoping that some days somebody somewhere will help us. This figure of N32tr debt is frightened because once our debtors call for their money we will not have enough to pay. What is so painful is that, the government does not have plan on how to get the economy better.

READ ALSO: Printing Of N60b: Obaseki Dares FG, Says ‘Stop Monetary Rascality’

“What the Governor has said is to let everybody at the policy making level think. We cannot continue this way; we cannot continue to pretend that we are fine and all is well when and are not, and this is because of the hopeless and clueless of this APC-led Federal Government.

“Obaseki only sounded a wake-up call for all Nigerians including himself. He has spoken the truth desperately needed at the moment.
He has shaken the table again for the proper thing to be done,” he said.

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Dr. Aziegbemi who further raised the alarm that the government is using over 70% of it revenue to service debts, said the nation’s economy is heading towards a situation where debts and revenue are at equal level, adding that this portends a collapse economy.

READ ALSO: Edo APC Berates Obaseki’s Claim On Nation’s Economy

He added that due to the bad economy, inflation rate has risen to 18.17 ration while unemployment 43:18 percentage.

 

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Man, 38 Escapes Assassination Attempt In Benin

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Innocent Omoruyi

By Omokha Andrew

A 38-year-old activist, Innocent Omoruyi, narrowly escaped assassination in the early hours of Wednesday, July 19, 2023 as his residence at Obe Community,Sapele Road in Benin city was attacked by yet to be identified gun men.

The attack which eye witnesses say was viciously executed on Wednesday, July 19, 2023 bore the markings of a dreaded cult group terrorizing Benin City, the state capital.

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The Obe, Sapale Road incident, it was learnt, happened soon after Omoruyi left the house to attend to matters of interest some few metres away from his home.

The assailants were said to have shot sporadically in their frustration as residents scampered for safety.

However, Omoruyi escaped unharmed.

One of the eye witnesses who craved anonymity said: “The felons apparently went for the kill, weilding guns and other dangerous weapons. “We are shocked that they didn’t see Innocent Omoruyi who was just some few metres away from home when they arrived”.

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“How that happened, only God knows and it was obvious that it wasn’t his time to die yet and just before that not long ago his business place on Lagos Street, Benin City was burnt down in the middle of the night by unknown arsonists.

“This sequence of events is not ordinary. We know it’s politically motivated due to the role he played in the last general elections. He has been advised to go into hiding at the moment for his personal safety”, he concluded.

When contacted, the police Public Relations Officer Chidi Nwabuzor said he was yet to get any information as regards the latest incident. He promised to feed our correspondent with relevant details as soon as they become handy.

Our information source however revealed that the matter has already been incidented at the Love World Police station on Sapele Road, Benin city.

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Nigeria To Earn Over $4bn Revenue As FEC Okays Concession Of Abuja, Kano Airports

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Nigeria will earn over $4 billion in nominal revenue as the Federal Executive Council, FEC, on Wednesday okayed the concession of the Nnamdi Azikiwe International Airport (NAIA), Abuja, and Mallam Aminu Kano International Airport (MAKIA), Kano, to the Corporacion American Airport Consortium, a Luxembourg-based company.

James Odaudu, the Special Assistant on Public Affairs to the Minister of Aviation, disclosed this in a statement on Thursday.

According to him, the Council also approved that the Federal Ministry of Aviation would be renamed the Ministry of Aviation and Aerospace.

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READ ALSO: ATMs To Be Upgraded For Loans Services As CBN Gives Banks Ultimatum…

The statement noted that the company would make combined upfront payments of $8.5 million for the concession of NAIA and MAKIA.

He added that the development would spur evidential growth within the Nigerian aviation industry.

In alignment with the Aviation Roadmap, approved by Mr President on 18th October 2016, the Ministry of Aviation and Aerospace is delighted to inform all stakeholders, both local and international, and the media, that the concession of the Nnamdi Azikiwe International Airport (NAIA), Abuja, and Mallam Aminu Kano International Airport (MAKIA), Kano has been approved by the Federal Executive Council,” the statement said.

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READ ALSO: Peter Obi, LP Must Pay N1.5million To Access Documents – INEC

In December 2022 and January 2023, Corporacion American Airport Consortium was announced as the preferred bidder for the airport’s concession after scaling through a series of evaluations of technical and financial bids.

Nominal revenues mean income not adjusted for inflation and decreasing purchasing power.

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Russia Expelled From Council Of Europe Amid War With Ukraine

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The Council of Europe says it has expelled Russia with immediate effect after 26 years of membership because of the Ukraine war.

The Committee of Ministers took the decision in a special session, the rights body announced in the French city of Strasbourg on Wednesday.

Earlier, Russia had already declared its withdrawal from the Council of Europe after it had taken steps to exclude it.

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On Tuesday evening, the Parliamentary Assembly of the Council of Europe voted unanimously in favour of Russia’s exclusion.

Russia joined the Council of Europe on Feb. 28, 1996.

Together with the formal notification of the withdrawal, the Secretary-General of the Council of Europe also received information from the Russian Federation on Tuesday about its intention to denounce the European Convention on Human Rights.

In a statement on Tuesday evening, the leaders of the Council of Europe once again condemned the Russian invasion of Ukraine.

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READ ALSO: Ukraine: Horror As Russian Forces Shoot People Queuing For Bread

They expressed their solidarity with the Russian people, who continue to belong to the European family and share its values.

The body said it would continue to stand by Ukraine in the fight against the aggressor.

The Council of Europe monitors the observance of human rights in its 46 member states and is not part of the European Union.

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The body reacted to the Russian invasion of Ukraine two weeks ago by suspending Russia’s membership, this decision was considered historic.

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