Politics

SDP Presidential Candidate, Adebayo Promises To Clear Nigeria’s ₦77trn Debt In Three Budget Cycles

Published

3 years ago

January 7, 2023

The presidential candidate of Social Democratic Party (SDP), Prince Adewole Adebayo, has promised to clear the ₦77 trillion debt Nigeria is presently owing within three budget cycles.

According to him, he’s not afraid of inheriting the N77 trillion debt which would be left by the present government.

Adebayo stated this in an online interview, telling Nigerians not to be worried about the failure by the President Muhammadu Buhari-led administration that hired “an unimaginative team to head the Central Bank of Nigeria and create debts rather than adequately managing the economy.”

Speaking further, he said he does not see liability in Nigeria as he prepares to activate the various assets of the nation to turn around the grim situation to one of international envy.

Adebayo told said that he decided to contest for the presidency of Nigeria because of the myriad of challenges facing the country, which, in his view, are no challenge at all given the huge assets which abound in the country.

In his words: “I knew these problems before I declared to run. In fact, if these problems were not there, I would not have taken an interest in running.

“When you have a debt profile that is put at N77 trillion, you are looking at the debt side, what about the asset side?

“When I take my oath of office, I am not just inheriting the debt, I am inheriting 220 million people, I am inheriting entrepreneurs.

“Nigerians are so lively, highly energetic and ready to work. I am inheriting the largest gas reserve. I am inheriting a vast agricultural land.

“I mean everything, all other things, solid minerals and all other assets. so the debt is so small when compared to the assets that we have. So, what I will do is, look at the structure of our debt.

“If I push our revenue up by 32 %, we will be fine but the window of pushing our revenue up is about 300 percent. And if I push down the wastage and the corruption by three-quarters 75% with some saving pockets here and there. And do some mop-up. I think that Nigerians would not even remember that we have a debt profile at all.

“We will retire the debts within three budgets, the debt will be insignificant and the people will get employment if I get 30 million jobs added to the workforce. The taxation on Pay As You Earn alone will wipe this debt off.

“If I get agriculture productivity in four belts in the country, lower Kebbi upper Niger, in Southern Kaduna Plateau axis, if I get agriculture in Oke-Ogun, part of South-West Nigeria and do Agriculture in Benue that will significantly deal with the problem.

“I don’t worry about that. It is not the load that kills but how you carry it. So, these debts represent a deficit of imagination, a deficit of creativity, and a deficit of competence. Why I said so is not because I am in the mood to insult anybody.

“I said so because their original sin is not managing our revenue accruals very well because they didn’t manage revenue accruals due to three problems that they have created for themselves including the fact that they don’t have the competence to do an appraisal of revenue profile and capture all the revenue subheads and govern all the revenue sub-head prudently.

“Secondly, they are tardy in administration and supervision. So many leakages even within the one they captured.

“Thirdly, they have collected campaign funding and other support from those who are benefiting from leakages and blind spots.

“So in order to keep their friends happy with them, the so-called political structures, they have created no-go areas. As a result of that, they are not able to capture enough revenue.

“Because they have hired an unpatriotic and unimaginative Governor of the Central Bank, so they’re able to create debts, like a drunken sailor and turned the apex bank into a casino. That is why they have all these crises.“

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Politics

PDP Crisis: INEC Rejects Turaki-led NWC

Published

4 days ago

December 23, 2025

Editor

The Independent National Electoral Commission, INEC, has said it will not recognise the Kabiru Turaki-led National Working Committee, NWC, of the Peoples Democratic Party, citing existing court judgments and unresolved legal processes.

This was as contained in a letter dated December 22, 2025, signed by INEC Secretary, Dr Rose Oriaran-Anthony.

The Commission stated that it could not act on demands to acknowledge or upload on its website the list of national officers said to have been elected at the National Convention held on November 15 and 16, 2025, in Ibadan.

According to INEC, its position was guided by subsisting court decisions and pending litigation relating to the leadership crisis within the PDP.

The electoral body further noted that it would be improper to recognise any factional officers while the matter remains before the courts.

Politics

Govt That Fails To Protect Its Citizens Has No Business Remaining In Office – Kwankwaso

Published

4 days ago

December 23, 2025

Editor

Senator Rabiu Musa Kwankwaso, leader of the Kwankwasiyya Movement and 2023 presidential candidate of the New Nigeria Peoples Party (NNPP), has accused the Federal Government under President Bola Ahmed Tinubu of lacking the political will to tackle Nigeria’s worsening insecurity.

Kwankwaso spoke on Tuesday in Kano while unveiling 2,000 operatives of the Kano State Neighbourhood Security Network.

He urged President Tinubu to “rise to the occasion and truly act as the Commander-in-Chief” in addressing banditry and other security challenges.

According to him, Nigeria’s military “remains one of the most gallant in the world,” having served in international peacekeeping missions in Darfur, Liberia, and other conflict zones.

However, he said the armed forces are not being adequately supported to perform optimally.

“Today, many innocent Nigerians are being killed, while the perpetrators walk freely as if nothing happened. The government must apologise to Nigerians for its laxity in the fight against insecurity,” he said.

Kwankwaso, who once served as Minister of Defence, added: “When I was Defence Minister, I knew the capability of the Nigerian military. They are courageous and professional but need clear direction, support, and political will to do the needful.”

He stressed that Nigeria’s armed forces had historically ranked among the best globally and urged the government to equip them properly to change the current security situation.

Kwankwaso also said that if elected president in 2027, he would recruit over one million additional military personnel to strengthen national security.

“Any government that fails to protect the lives and property of its citizens has failed woefully and has no business remaining in office,” he declared.

He further called on the Federal Government to integrate community-based security initiatives, like the Kano Neighbourhood Security Network, into the national security system to boost morale and improve intelligence-driven operations against criminals.

Politics

ADC Announces Temporary Closure Of Secretariat

Published

4 days ago

December 23, 2025

Editor

The African Democratic Congress, ADC , says it has temporarily closed its National Secretariat as part of the end-of-year break.

A statement by its National Publicity Secretary, Bolaji Abdullahi, said full operations are scheduled to resume in the New Year.

According to the statement, the secretariat will close on December 23, 2025, and reopen on January 5, 2026.

The party, however, said essential skeletal services will remain available throughout the period, while all other official activities at the National Secretariat will be suspended to allow staff and party officials observe the Christmas and New Year holidays.

“This is to inform the public that the African Democratic Congress National Secretariat will close for the year on 23rd December 2025 and will resume full operations on 5th January 2026.

“During this period, only skeletal services will be available, while all other official activities at the Secretariat will be temporarily suspended,” the statement said.

The party thanked its members, partners and supporters for their continued loyalty and cooperation throughout the year, noting that their support remains critical to the growth and stability of the party.

The ADC also said it is committed to its ideals and to democratic engagement as it prepares for activities in the coming year.