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Full List: 13 New Governors Borrowed N226.8bn In Six Months – DMO

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In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers.

This emerged as findings by The PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn), respectively.

The external debt was calculated based on the exchange rate of N889/$ used by the Debt Management Office in its report.

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This is according to an analysis of the latest sub-national debt reports released by the DMO.

READ ALSO: Nigeria’s Debt Hit N97.34tn In Q4 2023 – DMO

The sub-national debts are classified into domestic borrowings from local creditors and external borrowings from international creditors like the World Bank and the International Monetary Fund.

The domestic and external debts published on the DMO’s website were as of December 30 and June 30, 2023, respectively.

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The states, which include Benue, Cross Rivers, Katsina, Niger, Plateau, Rivers, Zamfara, and the Federal Capital Territory, got N115.57bn from domestic creditors, while governors of Ebonyi, Kaduna, Kano, Niger, Plateau, Sokoto, Taraba and Zamfara states borrowed $125.1m (N111.24bn) from external sources.

For the sub-nationals, a further breakdown of the data showed that Cross Rivers Governor, Bassey Otu, took the highest loan, with N16.2bn from domestic and $57.95m from foreign creditors between June and December 2023.

READ ALSO: CSO Raises Alarm As Akwa Ibom Debt Profile Hits N347.75bn

Katsina State followed with the debt surging by N36.93bn from N62.37bn to N99.3bn by December 2023.

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Third on the list is Niger State, with a domestic debt of N17.85bn, surging from N121.95bn in June 2023 to N139.8bn by December of the same year.

Plateau got N16.32bn; Rivers borrowed N7.07bn; Zamfara, N14.26bn; and the FCT under the leadership of Nyesom Wike borrowed N6.75bn from domestic creditors.

For foreign debt, Governor Francis Nwifuru of Ebonyi State accumulated external debt of $37.54m, while Governor Uba Sani of Kaduna State borrowed $17.69m from external financiers.

READ ALSO: Kano Deputy Gov, Ganduje Differ Over N300bn Debt

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Similarly, the governors of Kano borrowed $6.6m; Niger, $1.27m; Plateau, $831,008; Sokoto, $499,472; Taraba, $1.51m; and Zamfara, $655,563, from external sources.

Despite declarations by the administration of President Bola Tinubu that it would not continue with the massive borrowings of the previous government to fund its expenditures, the latest developments show that the new government is sticking to the controversial policy amidst increased revenue.

In 2023, state governors got the most Federal Account Allocation Committee allocations in at least seven years. The rise in FAAC allocations to the three tiers of government, especially the states, followed the removal of subsidy on petrol and currency reforms by the Tinubu administration. The reforms have reportedly led to a 40 per cent boost in income.

An analysis of the 2023 FAAC monthly allocations revealed that the sub-national and local government councils got the highest allocation of N627.73bn in September, followed by N610.5bn in December, N555.75bn in August, N533bn in November, N514bn in July and N497.97bn in October.

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List Of Persons On Board Iranian President’s Missing Helicopter

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A helicopter carrying Iranian President Ebrahim Raisi was involved in a hard landing while visiting a northern region and his condition is currently unknown.

There were three helicopters in this convoy, two of which were carrying ministers and officials, and they arrived at their destination safely.

According to reports, different rescue groups are moving towards the area to locate the missing helicopter.

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DAILY POST reported that it was unclear if Raisi and others on board with him survived the crash.

READ ALSO: Saudi Arabia, Iraq, Azerbaijan Offer Help To Search President Raisi’s Helicopter

However, given the unsuitable weather conditions, it may take some time for the rescue team to find the helicopter.

According to World of Statistics, those onboard the helicopter when the incident occurred include Iranian President Ebrahim Raisi, Iranian Foreign Minister Hossein Amirabdollahian, East Azerbaijan Governor Malek Rahmati, and Ayatollah Mohammad Ali Ale-Hashem, representative of Iranian Supreme Leader to East Azerbaijan.

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Saudi Arabia, Iraq, Azerbaijan Offer Help To Search President Raisi’s Helicopter

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Iranian search and rescue teams were scouring a fog-shrouded mountainside after a helicopter carrying President Ebrahim Raisi went missing in an “accident” on Sunday, state media said.

Fears grew for the 63-year-old ultraconservative after contact was lost with the helicopter carrying him as well as Foreign Minister Hossein Amir-Abdollahian in East Azerbaijan province, reports said.

“An accident happened to the helicopter carrying the president” in the Jolfa region of the western province, state television said, while some officials described the incident as a “hard landing”.

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“The harsh weather conditions and heavy fog have made it difficult for the rescue teams to reach the accident site,” said one state broadcaster.

More than 40 rescue teams using search dogs and drones were sent to the site, reported the IRNA news agency.

Raisi was visiting the province where he inaugurated a dam project together with Azerbaijan’s President Ilham Aliyev, on the border between the two countries.

Raisi’s convoy included three helicopters, and the other two had “reached their destination safely,” according to Tasnim news agency.

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READ ALSO: Iranian President: Hamas Raises ‘Great Concern’ Over Helicopter Crash

Foreign countries were closely following the search effort at a time of high regional tensions over the Gaza war between Israel and Hamas since October 7 that has drawn in other armed groups in the Middle East.

A US State Department spokesman said: “We are closely following reports of a possible hard landing of a helicopter in Iran carrying the Iranian president and foreign minister.

“We have no further comment at this time.”

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An Iranian Red Crescent team was seen walking up a slope in thick fog and drizzling rain, while other live footage showed worshippers reciting prayers in the holy city of Mashhad, Raisi’s hometown.

In neighbouring Iraq, Prime Minister Mohamed Shia al-Sudani “instructed the interior ministry and the Iraqi Red Crescent and other relevant authorities to offer available resources… to aid in the search”.

Azeri President Aliyev said in a post on X that “we were profoundly troubled by the news of a helicopter carrying the top delegation crash-landing in Iran”.

“Our prayers to Allah Almighty are with President Ebrahim Raisi and the accompanying delegation,” he said, noting that his country “stands ready to offer any assistance needed”.

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READ ALSO: JUST IN: Helicopter Carrying Iran’s President Crashes

The accident happened in the mountainous protected forest area of Dizmar near the town of Varzaghan, said the official IRNA news agency.

Military personnel along with the Revolutionary Guards and police had also deployed teams to the area, said army chief-of-staff Mohammad Bagheri.

Iran’s Health Minister Bahram Eynollahi said medical resources had been dispatched.

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The reformist Shargh daily also reported that “the helicopter carrying the president crashed” while two other helicopters had landed safely.

Interior Minister Ahmad Vahidi said one of the helicopters “made a hard landing due to bad weather conditions” and that it was “difficult to establish communication” with the aircraft.

Raisi has been president of the Islamic Republic since 2021 when he succeeded the moderate Hassan Rouhani, for a term during which Iran has faced crisis and conflict.

READ ALSO: Iran Hangs 53-year-old Woman, Six Others

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He took the reins of a country in the grip of a deep social crisis and an economy strained by US sanctions against Tehran over its contested nuclear programme.

Iran saw a wave of mass protests triggered by the death in custody of Iranian-Kurdish woman Mahsa Amini in September 2022 after her arrest for allegedly flouting dress rules for women.

In March 2023, regional rivals Iran and Saudi Arabia signed a surprise deal that restored diplomatic relations.

Saudi Arabia on Sunday voiced “great concern” after Sunday incident, offering to help with the response.

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We affirm that the Kingdom stands by the sisterly Islamic Republic of Iran in these difficult circumstances and its readiness to provide any assistance that the Iranian agencies need,” the foreign ministry of the Gulf kingdom, a longtime rival of Iran, said in a statement.

READ ALSO: Nigerians Knock Seyi Tinubu For Preaching Endurance Over Economic Hardship

The war in Gaza that broke out on October 7 sent regional tensions soaring again and a series of tit-for-tat escalations led to Tehran launching hundreds of missiles and rockets directly at Israel in April 2024.

In a speech following Sunday’s dam inauguration, Raisi emphasised Iran’s support for Palestinians, a centrepiece of its foreign policy since the 1979 Islamic revolution.

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We believe that Palestine is the first issue of the Muslim world, and we are convinced that the people of Iran and Azerbaijan always support the people of Palestine and Gaza and hate the Zionist regime,” said Raisi.

Raisi, born in 1960 in northeast Iran’s holy city of Mashhad, served as Tehran’s prosecutor-general from 1989 to 1994, deputy chief of the Judicial Authority for a decade from 2004, and then national prosecutor-general in 2014.

His black turban signifies direct descent from the Prophet Mohammed, and state media has referred to him by the senior title of ayatollah in the Shiite clerical hierarchy.

 

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Iranian President: Hamas Raises ‘Great Concern’ Over Helicopter Crash

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Hamas has issued a statement voicing “great concern” after a helicopter carrying Iranian President Ebrahim Raisi and other Iranian officials crashed on Sunday, CNN reports.

Recall that a helicopter carrying Raisi was involved in a hard landing while visiting a northern region and his condition is currently unknown.

Details about the crash are still unclear, as rescue groups are moving towards the area to locate the missing helicopter.

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READ ALSO: JUST IN: Helicopter Carrying Iran’s President Crashes

However, Hamas has expressed “solidarity” towards the president and the “brotherly Iranian people.”

The Hamas statement reads partly: “In this painful incident, we express our full solidarity with the Islamic Republic of Iran, its leadership, government, and people, and we ask Allah Almighty to protect and ensure the safety of the Iranian President and his accompanying delegation, and to keep all harm away from the brotherly Iranian people.”

 

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