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N77tn Debt Not Manageable, Says OPS

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The Lagos Chamber of Industry as well as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture have expressed dismay at the recent revelation that Nigeria’s debt could hit N77tn if the National Assembly agrees to the Federal Government proposal to restructure its N22.7tn Central Bank of Nigeria loan.

Reports say Nigeria’s public debt burden might hit N77tn if the National Assembly approves the request by President Muhammadu Buhari to restructure the Ways and Means Advances.

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This followed comments by the Director-General of the Debt Management Office, Patience Oniha, who spoke during the public presentation of the 2023 budget organised by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed.

Speaking in an interview with The PUNCH, the Deputy-President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, said the government ought to find creative solutions to revenue generation beyond its frequent recourse to taking loans.

He also noted that government borrowing, especially when it is as frequent as it has been with the current administration, ends up stifling the private sector’s ability to take loans from the banking system.

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READ ALSO: 77 Trillion Debt: Alarm Over National Debt Unnecessary – DMO

He said, “The issue of sustainability is no longer being considered by the government. This government just wants to borrow its way out of the remaining term and then leave the problem for the next government. That’s just to put it mildly. So, the bigger picture of sustainability and structure will have to be addressed by the incoming government because the level of borrowing now is not sustainable by our revenue.

“As a country we are not generating enough revenue to service our debts and still run a government. Since last year, we have been living on borrowed money because the debt servicing has crossed 100 per cent of our revenue. If you look at our budget every year, when you look at the debt servicing, it is higher than the estimated revenue. So we just borrow on top of all that to run the government. That is what we are doing now. It is not sustainable.”

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DSS Issues Warning, Arrests Man For Circulating Fake Recruitment Materials

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The Department of State Services (DSS) has disclosed the arrest of one Mr. Eze Ezenwa Benard, who was recently apprehended for circulating fake DSS recruitment past questions and answers on Facebook.

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The agency, while warning the public in a statement on Saturday, said the suspect operated through a page known as “Jobs and Education”, where he advertised the fraudulent materials and charged unsuspecting members of the public one thousand naira (N1,000) for access.

The public is hereby cautioned to disregard any materials, as the DSS does not sell or distribute recruitment questions, answers, or examination guides through private individuals or social media pages. Recruitment into the Service, when necessary, follows specialised procedure in accordance with extant laws and due process,” the statement reads.

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Continuing, DSS said Ezenwa’s arrest underscores the Service’s determination to safeguard Nigerians from the fraudulent schemes of unpatriotic elements. “Citizens are therefore encouraged to remain vigilant, verify information from official sources and report suspicious recruitment adverts or individuals attempting to extort money under false pretense.”

The agency assured that it will continue to protect the integrity of its recruitment process while ensuring that perpetrators of fraud face the full weight of the law.

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‘Na Only People You Gave Work Love You,’ Singer Speed Darlington Tells Tinubu

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Singer Speed Darlington has told President Bola Tinubu that public admiration cannot be bought, warning that only those who received appointments or jobs from the government truly support him.

In a video posted on Saturday, August 23, the singer said, “Everything isn’t about the economy! There is more to leadership than the economy. See as everybody dey call your name, dey complain. Nobody loves you. Na only the ones you gave work, na them love you. Even your own tribe dey complain about you.”

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READ ALSO:Before You Leave Office, Reform The Police — Speed Darlington Urges Tinubu

Darlington, an Igbo man, urged Tinubu to focus on police reform and respect for human rights. “The Nigerian police is an oppressive agency rooted in human rights violation. As a matter of fact, if they do not violate you, it’s as if they are not even doing their job.

“The idea of arrest before investigation is a pure human rights violation. You arrest and hold a person before you dey investigate. Please, before you leave office, please speak to your Yoruba brother IGP man,” he added.

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Before You Leave Office, Reform The Police — Speed Darlington Urges Tinubu

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Popular controversial singer Speed Darlington has called on President Bola Tinubu to reform the Nigerian Police Force, urging the government to prioritise citizens’ rights alongside economic growth.

In a video posted on Saturday, the entertainer criticised what he described as the police’s systemic human rights violations and oppressive practices.

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Mr President, before you leave office, whether you secure a second term or not, try your best to improve Nigeria. Everything isn’t about the economy!

“There is more to leadership than the economy. See as everybody dey call your name, dey complain. Nobody loves you. Na only the ones you gave work, na them love you. Even your own tribe dey complain about you,” he said.

READ ALSO:Obi Blames Tinubu For 70% Investment Crash

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The singer, who identifies as Igbo, urged Tinubu to engage with the Inspector-General of Police and implement reforms.

As an Igbo man, the advice I can give you so people will know your name and remember you for something good is to reform the police. Reform the police.

“The Nigerian police is an oppressive agency rooted in human rights violation. As a matter of fact, if they do not violate you, it’s as if they are not even doing their job.

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“The idea of arrest before investigation is a pure human rights violation. You arrest and hold a person before you dey investigate,” he added.

READ ALSO:Tinubu Subsidises Kidney Dialysis Cost By 76% In Federal Hospitals

Darlington also recounted his personal ordeal with law enforcement, highlighting the system’s abuse of power.

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I was held for two months after the judge had ordered my release. FID held me for two months. According to my lawyer, the Nigerian law gives only 28 days for investigation.

“They held me for two months. What is the extra month for? Because they can. If you give them money, they oppress your enemy. I have experienced it,” he said.

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