Connect with us

Politics

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

Published

on

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.”

Advertisement

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.

READ ALSO: SDP Presidential Candidate, Adebayo Takes Campaign To Edo North, Promises Seaport In Agenebode

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.

Advertisement

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.

Advertisement

“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.

Advertisement

“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.

Advertisement

“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.

Advertisement

“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.“

Advertisement

Politics

Court Declines Kachikwu’s Motion Against INEC, ADC Leaders

Published

on

The Federal High Court in Abuja on Friday declined to hear an application filed by the African Democratic Congress’ 2023 presidential candidate, Dumebi Kachikwu, against the Independent National Electoral Commission and the Senator David Mark-led leadership of the party.

Justice James Omotosho, in a ruling, refused to entertain the motion.

Kachikwu, through his counsel, Dayo Akinlaja (SAN), had sought an order compelling INEC to withdraw the publication of Mark and Rauf Aregbesola’s names as national chairman and secretary of the ADC, pending the determination of the substantive suit.

Advertisement

INEC had recently recognised Mark, a former Senate President, and Aregbesola, a former Governor of Osun State, as the party’s national chairman and national secretary.

READ ALSO:Court Dismisses Suit Seeking Refund Of Rivers’ Monies Expended By Ibas

On July 7, Kachikwu and four others – Adikwu Elias, Etimbuk Umoh, Muhammed Khala, and Alaku Godwin William – filed an originating summons challenging the recognition of the duo.

Advertisement

The suit lists INEC, ADC, Chief Ralph Nwosu, Mark, and Aregbesola as the first to fifth defendants.

When the matter was called on Friday, Akinlaja told the court that a motion dated September 19 had been filed. He argued that despite the pendency of the suit, INEC went ahead to recognise Mark and Aregbesola as party leaders.

The plaintiffs asked the court to set aside the recognition and publication of their names, describing it as a breach of the doctrine of lis pendens. They also sought an injunction restraining Nwosu, Mark, and Aregbesola from further relating with INEC as ADC’s national officers.

Advertisement

However, counsel for the ADC, Shaibu Aruwa (SAN), along with other defence lawyers, opposed the application.

READ ALSO:South African Court Finds Radical Politician Malema Guilty On Gun Charges

After hearing arguments, Justice Omotosho declined to entertain the motion, marked FHC/ABJ/CS/1331/2025.

Advertisement

He said, “This court is not inclined to nullify anything at this stage, whether done before or now. This is a political case. I am not taking any interlocutory matter.”

The judge held that all processes filed by the parties, including preliminary objections, would be taken together with the substantive case.

Despite repeated pleas by Akinlaja for the motion to be heard, the court stood its ground.

Advertisement

Justice Omotosho also granted an application for joinder filed by Nkemakolam Ukandu, the ADC deputy national secretary, and ordered that his name be added as a defendant.

He directed the plaintiffs to file the amended processes within 48 working hours and gave the defence seven days to respond. The case was adjourned till October 23 for hearing.

Advertisement
Continue Reading

Politics

Fubara Sacks Commissioners, Others

Published

on

Rivers State Governor, Siminalayi Fubara, has sacked all commissioners and other public office holders serving in his administration.

The decision, according to a statement issued in Port Harcourt on Wednesday evening by his Chief Press Secretary, Nelson Chukwudi, takes immediate effect and followed the recent Supreme Court judgment.

The governor, during a valedictory session with his cabinet to mark Nigeria’s 65th Independence Anniversary at Government House, Port Harcourt, thanked the outgoing officials for their services and contributions to the state’s development over the past two years.

Advertisement

The statement read in part, “Rivers State Governor, His Excellency, Sir Siminalayi Fubara, has thanked members of his cabinet for their services and contributions to the development of the state in the last two years.

READ ALSO:BREAKING: Gov Fubara Dissolves Rivers Pension Board

The governor highlighted the significance of Nigeria’s Independence, and called on all Nigerians to work together with Mr President to build a peaceful, secure and prosperous country and a brighter future for all.

Advertisement

“Furthermore, the Governor has relieved all Commissioners and other public officers affected by the recent Supreme Court judgment of their appointments with immediate effect.”

Fubara also reiterated his commitment to serve the state “with renewed vigour,” while expressing gratitude to Rivers people for their support and wishing Nigerians a happy Independence anniversary.

READ ALSO:Why I Refused To Challenge Emergency Rule – Fubara

Advertisement

Recall that the immediate past administrator of the state, Vice Admiral Ibok-Ete Ibas (retd.), upon assumption of office during the emergency rule imposed by President Bola Tinubu, suspended all commissioners, special advisers, and assistants appointed by Fubara. Ibas also dissolved boards and suspended heads of parastatals he met in office.

Since Ibas exited the state on September 18, the fate of Fubara’s appointees had remained uncertain. The Rivers State House of Assembly, at its first sitting after the lifting of the emergency rule, had called on the governor to submit a fresh list of commissioner-nominees for screening, alongside the 2025 budget for passage.

Advertisement
Continue Reading

Politics

2027: Crisis Rocks Kaduna ADC Over Power Tussle

Published

on

The Kaduna State chapter of the African Democratic Congress (ADC) is enmeshed in crisis as a fierce power struggle among leading figures threatens the party’s chances in the 2027 general elections.

ADC stalwart, Malam Salihu Lukman, raised the alarm on Wednesday, warning that the party may not make a meaningful impact at the polls if the internal rift persists.

In a statement, Lukman alleged that some party leaders have aligned with certain aspiring candidates for the 2027 elections to the exclusion of others.

Advertisement

He called on former Kaduna State governor, Malam Nasir El-Rufai, Malam Jaafaru Sani, Alhaji Bashir Saidu, and other opposition leaders in the state to halt what he described as “the madness” of candidates bent on hijacking party structures.

READ ALSO:Ex-Tinubu Campaign Coordinator Resigns From APC

According to him, “anybody who is not ready to work as part of a united opposition in Kaduna State is consciously or unconsciously working for the APC.”

Advertisement

Expressing concern over the infighting, Lukman said his efforts to mediate had largely failed.

“The fact that Senator Musa Bello is aggressively seeking to control structures of ADC in Zone 2 is a reflection of my failure, largely because I am associated with him.

“Senator Lawal Adamu (Mr. La) has avoided all my requests to meet him. I have met Malam Jaafaru Sani on this matter and had discussions with Malam Nasir. Sadly, we are not united, and the perception is that I am part of the problem.”

Advertisement

READ ALSO:Why APC Candidates Contested 2023 LG Election Despite Intimidation — State Chairman

Lukman stressed that he has no political ambition but remains committed to building a united front. “As a citizen from Kaduna State, I am willing to make every necessary sacrifice to move our state forward. Without sounding immodest, I made every sacrifice to contribute to forming the coalition and negotiating the agreement with ADC.

“May I therefore appeal to Malam Nasir and all our leaders to please seek to unite us. It is only if we are united in ADC that we can unite our people in the state to defeat the APC in 2027. We must bear in mind that it is not just about defeating APC but about producing a government controlled by our party based on collective leadership.

Advertisement

“We need to put an end to the era when we produce emperors as governors. Anything short of a government managed by collective leadership under ADC will be unacceptable.”

Continue Reading

Trending