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PDP wrongs Vice President, Yemi Osinbajo over claims of N1.3Trillion spent on capital projects

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9 years ago

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The Peoples Democratic Party (PDP) has taken a swipe at Vice President Yemi Osinbajo who earlier in the week, said the current administration spent the sum of N1.3 trillion on the execution of capital projects in 2016 alone. In series of tweets on its official Twitter Handle @OfficialPDPNig., the party tasked the Vice President to explain to Nigerians how the said sum was spent and what projects was executed. Yemi Osinbajo “We are alarmed and highly bewildered to hear from Vice President, Professor Yemi Osinbajo that N1.3 trillion was spent on capital projects in 2016. N1.3 trillion on capital projects and nothing to show for it is unacceptable,” wrote the PDP in one of the tweets, asking: “Should we assume the Vice President was misquoted?” The PDP further noted that since the assumption of Muhammadu Buhari as President, the APC has failed to deliver the dividends of democracy to the people. “Apart from the infrastructures handed over to the APC-led government by the PDP, nothing has been done in the last two and a half years. “We believe the Vice President, Professor Osinbajo will provide clarifications on how N1.3 trillion was spent on capital projects in 2016,” it wrote in yet another tweet.

Meanwhile four out of the seven states that had their chapters of the PDP dissolved at the Special Non-elective convention held penultimate Saturday have already complied with the resolutions reached at the convention. Chairman, National Caretaker Committee of the PDP, Senator Ahmed Makarfi stated this yesterday while addressing newsmen at a meeting with the Kwara State chapter of the party in Abuja.

Stating reasons for convening the meeting, Makarfi said Kwara cannot afford to be left behind while other states were already putting their houses in order in the interest of the larger PDP family. “Kwara is the only state we are meeting like this. As I speak to you, we already have submissions from four states and they are ready to work together in the overall interest of the party. This means that they have already complied with the position of the party,” he stated, describing Kwara State as a “highly politically mature and active to prevent this type of isolation.” On the progress so far made in Lagos, Osun, Ogun, Kwara, Borno, Kebbi and Adamawa States which had their Executive Committees’ dissolution ratified at the convention, Makarfi said states yet to find a common ground on the way forward had requested the NCC for more time, stressing however that in no distant time, all parallel factions would join hands together as one family to move the PDP forward. “We are making big progress in compliance with the resolutions of the conventions. States are complying and making submissions. Some have asked for more time,” based on understanding, adding that there have been a lot of interests from many quarters to join the party after the convention. He however stressed the importance of putting the house in order as the party embarks on massive membership drive across the federation, adding that states that are yet to harmonise will do so after the Sallah break. “It is good to expand but it is important to put the house in order before expansion,” he counselled. On the delegation were prominent politicians including former Minister of National Planning, Professor Abubakar Sulaiman, Senators Solomon Ewuga, Simeon Ajibola and a host of others.

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

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1 day ago

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April 7, 2026

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Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.

The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.

Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the  Bank’s commitment to supporting institutions that drive intellectual growth and national development.

As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.
Read more about Alpha Morgan Bank on www.alphamorganbank.com

 

 

PHOTO

L-R: Prof. Shadrach Olufemi Akindele, Vice Chancellor, Redeemers University, Engr.  Eloka Eje, Dr Perez Araka, Pastor (Mrs) Folu Adeboye, Mother-In-Israel, The Redeemed Christian Church of God, Mr Ade Buraimo, MD/CEO Alpha Morgan Bank, Dr (Mrs) Oluwatomi Somefun, Dr. Simeon Ifere, at the inauguration of the Redeemer’s University Business School, Redemption City, Ogun State on Thursday 2nd April, 2026

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Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

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2 days ago

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April 7, 2026

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Otega Ogra: Online Misinformation Endangers Public Trust and Stability

Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

The Presidency has strongly refuted allegations of “accounting fiction” and misinformation surrounding Nigeria’s ongoing power sector financial reforms.
O’tega Ogra, Senior Special Assistant to President Bola Ahmed Tinubu on Digital and New Media, took to social media to challenge comments made by Rufai Oseni, accusing the broadcaster of misrepresenting government efforts to resolve legacy debts in the electricity value chain.
At the heart of the dispute is the reconciliation of longstanding debts owed to Generation Companies (GenCos) and gas suppliers—an issue that has long constrained liquidity within Nigeria’s electricity market.
₦1.4 Trillion Reduction Explained
Responding to criticism over debt figures, Ogra clarified that total legacy obligations were reduced from ₦4.7 trillion in initial claims to a verified ₦3.3 trillion, representing a roughly 30% reduction.
“That is not spin. It is the difference between a claim and a verified obligation,” Ogra stated.
“In a regulated electricity market, submitted claims must be validated against contracts, market rules, and settlement records.”
Ogra also outlined tangible progress under the reform program, emphasizing that it has moved beyond “paper restructuring” to actual financial disbursements:
₦1.23 trillion structured under Phase I
₦501 billion already raised for the first series
₦223 billion disbursed to GenCos and gas suppliers
₦197 billion currently being processed
As of March 31, 2026, eight GenCos—covering 17 power plants—have signed settlement agreements totaling ₦2.28 trillion.
According to Ogra, the reform timeline, from President Tinubu’s July 2024 directive for a sector-wide review to Federal Executive Council approval in August 2025, demonstrates a deliberate push for transparency in a sector historically plagued by opacity.
“The real question is whether the final figure reflects verified contractual exposure. That is exactly what the review process was designed to achieve,” he said.
While defending the administration’s approach, Ogra acknowledged that clearing debts alone will not resolve Nigeria’s electricity challenges. He noted complementary reforms underway, including:
Tariff alignment based on service quality
Nationwide metering expansion
Improved payment discipline
Targeted subsidies for vulnerable citizens
In a pointed remark, he urged media commentators to distinguish between incomplete progress and misinformation:
“This is not the end of the problem, but it is a structured attempt to fix it.”
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Aare Adetola Emmanuelking Welcomes President Tinubu to Gateway International Airport Commissioning in Iperu-Remo

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4 days ago

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April 4, 2026

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Aare Adetola Emmanuelking Welcomes President Tinubu to Gateway International Airport Commissioning in Iperu-Remo

 

In a momentous occasion that underscores the rapid infrastructural advancement of Ogun State, renowned real estate mogul and philanthropist, Aare Adetola Emmanuelking, warmly received the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, at the official commissioning of the Gateway International Airport, located in Iperu-Remo.

The landmark event, held under the visionary leadership of the Ogun State Governor, Dapo Abiodun, marks a significant stride in the state’s economic transformation agenda, positioning Ogun as a key hub for aviation, commerce, and investment in Nigeria.

Aare Emmanuelking, who is also the Chairman/CEO of Adron Homes and Properties, commended the Ogun State Government for its foresight and commitment to infrastructural excellence. He described the airport project as a “game-changer” that will not only boost connectivity but also stimulate real estate growth, tourism, and industrial expansion across the region.

Speaking during the commissioning, President Tinubu lauded Governor Abiodun’s administration for delivering a world-class facility that aligns with the Federal Government’s Renewed Hope Agenda, emphasizing the importance of strategic infrastructure in driving national development.

The Gateway International Airport is expected to serve as a critical gateway for investors and travelers, further enhancing Ogun State’s reputation as one of Nigeria’s most business-friendly environments.

The presence of top dignitaries, industry leaders, and stakeholders at the event underscores the project’s significance and its anticipated impact on the state’s socio-economic landscape and beyond.

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