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We have not taken any foreign loans in my 4-year tenure- Ambode

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Outgoing Lagos State governor, Akinwunmi Ambode, says his four-year administration took no foreign loans despite the pressure on the state’s Internally Generated Revenue (IGR) due to massive infrastructure projects the administration set out to accomplish to cater to the growing needs of the estimated over 21 million residents of the state.

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According to Ambode, although the foreign component of the state’s debts hovers around $1.43 billion, his administration never added to it but was committed to servicing what it inherited from the previous administrations, which has been compounded by unstable exchange rates.

The governor spoke in an exclusive interview with BusinessDay, saying his background as a financial expert and years of experience at the top level of the state’s civil service as an accountant-general came handy in managing the resources of Nigeria’s biggest state economy to achieve outstanding results.

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Statistics from the Debt Management Office (DMO) show Lagos State’s total external debt stock as at 31 December, 2018 stood at $1.43 billion. The external debt comprised $1.28 billion from multilateral source and $143.83 million was bilateral, sourced from the African Development Bank.

In addition, the state’s total domestic debt stock was N530.24 billion as at the same period of 2018.

“Talking about Lagos State having the highest amount in terms of foreign loans, truth is that I have it on record that in my four years, I never took any foreign loan. So, whatever it is that they are saying about having $1.43 billion is an accumulation of loans that have been taken by successive governments,” Ambode told BusinessDay.

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“Remember also, these facilities that we call loans were taken at an exchange rate that was lower than N150. But again, this government that has not taken any of these facilities would pay back and has been paying back in the last four years on the new exchange rate which is like N360 because government is a continuum.

“That has immense pressure on the internally generated revenue. And when you have this pressure on the IGR that you are using to service these facilities without complaining, it means that you have been financially prudent to be able to use the remaining resources to do what you have outside there in terms of infrastructure development,” said Ambode.

He further explained that beyond being financially prudent, his administration has given value for money by undertaking major projects that are further improving the economy of Lagos in particular and Nigeria in general, pointing to the construction of road networks, Oshodi Transport Interchange (OTI), Lagos airport road, resuscitation of Ayinke House (maternity hospital), Ikeja, jubilee bridges, laybys, redesigning of Ojodu Berger on Lagos-Ibadan Expressway, the light-up Lagos project, among others, as legacies his successor, Babajide Sanwo-Olu, will build upon.

“That is the way to explain what has been happening and the value that comes with the infrastructure that we are giving. It is like double the price of what we are putting inside when you match the issues about loans and resources. Remember also that the country was going into recession when we came in,” Ambode explained.

Speaking on his drive in governance, Ambode said aside from passion to improve the lot of the people, his administration leveraged on the Lagos Development Plan 2012-2023 and took specific steps to improve the IGR to enable it deliver on the development plan.

“One of the strategic instruments in that development plan is to create a financial model for Lagos State. It is not enough for us to say we are having strategic pillars of development without knowing how to fund it and so in the development plan, a growth plan for revenue generation had actually been embedded in it,” Ambode said.

“Fortunately for Lagos, you have statistics that favour revenue growth. Lagos is the commercial capital of Nigeria; the business community in terms of population or location is here and this is like 70 percent of what is happening in Nigeria; we have the market and again Lagos is the most sophisticated. Those indicators were just enough for anybody to carry on from where the previous administration stopped and then be able to continue.

“Remember also when we came in, the revenue that was generated on a monthly basis was about N12 billion and then it moved to almost like N20 billion. Today, we are having an average of N30 billion to N35 billion a month but it is not as if the expansion is based on increase in rates or taxes. What has been done is just improvement in collection machinery and then expanding the tax net and the ability to put people together and run an efficient civil service system that was able to tap into those things; and then more importantly, investing in technology to be able to carry out some of these collections.

“Yes, revenue has improved tremendously but obviously it is based on focus, and it is based on the ability to match those needs in terms of development and economic growth with how to fund it. Lagos is also favoured by the fact that because of the dynamics that we have, we are likely to be more attractive to the capital market and also more attractive to commercial banks and the ability to pay back would always give you more resources to be able to get funding for most of these projects that we have done,” the governor said.

Written by Businessday Newspaper Senior Analyst: Joshua Bassey on 15th April, 2019.

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PUBLIC NOTICE: URGENT APPEAL FOR PEACE AND SECURITY IN RIVERS STATE: A CALL TO ACTION FOR THE PRESIDENT*

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**PUBLIC NOTICE: URGENT APPEAL FOR PEACE AND SECURITY IN RIVERS STATE: A CALL TO ACTION FOR THE PRESIDENT**

Dear Esteemed Citizens of Nigeria,

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As concerned citizens and representatives of the Dwellers of Coastal and Waterways Communities of Africa (DCWCA), our hearts weigh heavy with concern for the safety and security of our beloved nation, particularly in Rivers State. Recent developments have seen allover the internet news online a troubling plot that threatens to undermine the peace and stability painstakingly built by our coastal communities.

We are gravely disturbed by reports indicating a sinister scheme aimed at disrupting the commendable efforts of Royal Fouchee Security Limited, spearheaded by the esteemed Alhaji Mujahid Dokubo Asari. It pains us deeply to learn that the very guardians of our security, the Nigeria Security Agencies, are allegedly orchestrating an assault on the dedicated workers of Royal Fouchee Security Agency and other private security entities in Rivers State.

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In this hour of uncertainty, we turn our eyes to the highest office of the land, the esteemed President of Nigeria, with an impassioned plea for intervention. Mr. President, we beseech you to heed our call and use your authority to halt any actions that may endanger the lives and well-being of our coastal citizens. Your decisive action is imperative in preventing further escalation of tensions and preserving the peace that is the lifeblood of our coastal communities.

While we cannot definitively prove the political undertones behind these alarming developments, the whispers of suspicion linger in the air. It is incumbent upon our leaders to rise above partisan interests and prioritize the safety and security of every Nigerian, particularly those in our coastal regions who are vulnerable to various challenges.

Let us not forget the lessons of our past, where political differences were allowed to sow seeds of discord and division among our coastal brethren. Instead, let us unite in solidarity, transcending political boundaries to safeguard the sanctity of our democracy and the welfare of our coastal people.

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Mr. President, we implore you to intervene swiftly and decisively, sending a clear message that the security and well-being of every coastal Nigerian is non-negotiable. Your actions today will shape the destiny of our nation and reaffirm our collective commitment to peace, unity, and progress.

With unwavering hope and trust in your leadership,

Dwellers of Coastal and Waterways Communities of Africa (DCWCA)
[Tom Inko-Tariah ACI arb
President/CEO]

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Edi Abali Group Raises Alarm Over Security Threat to Ancestral Home, Assets of Alhaji Mujahid Abubakr Dokubo-Asari

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Edi Abali Group Raises Alarm Over Security Threat to Ancestral Home, Assets of Alhaji Mujahid Abubakr Dokubo-Asari

Edi Abali Group Raises Alarm Over Security Threat to Ancestral Home, Assets of Alhaji Mujahid Abubakr Dokubo-Asari

 

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by The Army

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Sahara Weekly Reports That The Edi Abali Group has raised an alarm concerning a security threat to the ancestral home and assets of Alhaji Mujahid Abubakr Dokubo-Asari, the Paramount Ruler of Edi Abali Group of War Canoe and Chieftaincy Houses in the Kalabari Kingdom of Rivers State, by the military.

 

 

 

 

 

 

Edi Abali Group Raises Alarm Over Security Threat to Ancestral Home, Assets of Alhaji Mujahid Abubakr Dokubo-Asari

 

 

 

 

 

In a public notice issued by the Edi Abali Group it states that credible intelligence has revealed plans by elements within the 103 Battalion of the Nigerian Army in Obuama to provoke a confrontation and disrupt the peace in the area.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

According to the notice, the plot specifically targets Alhaji Mujahid Abubakr Dokubo-Asari, who is currently out of the country. The army allegedly plans to exploit his absence in order to create a crisis that could be wrongly attribited to the community members, resulting in attacks on innocent individuals. The Edi Abali Group clarifies that there are no issues between their community, the army, and Alhaji Mujahid Abubakr Dokubo-Asari or his company, Royal Fouche Services Limited.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The notice highlights that the tensions arose after Alhaji Mujahid Abubakr Dokubo-Asari spoke out about the involvement of some elements of the Nigerian Army in oil bunkering activities in the Niger Delta. These activities reportedly deprived the government of the much-needed revenue, leading to displeasure among these elements. The group believes that they are deliberately instigating a crisis involving the personnel of Royal Fouche Services to justify an attack on innocent indigenes of the Kalabari communities, particularly in Obuama where Alhaji Mujahid Abubakr Dokubo-Asari is based, as well as the 103 Battalion.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mr Mpakaboari Pankin Braide said,

 

 

“The army in Obuama is aware of his absence from the country and plans to exploit this to create a crisis, which will be wrongly attributed to community members, leading to attacks on innocent individuals.”

 

 

 

 

 

 

 

 

 

 

 

 

The Edi Abali Group calls upon the Nigerian Army to be aware of this plot and to ensure that they are not manipulated into compromising peace and security in the area. They also highlight the proven record of collaboration between Alhaji Mujahid Abubakr Dokubo-Asari and Royal Fouche Services Limited with security agencies in combating terrorism, kidnapping, and insurgency.

 

 

 

 

 

 

 

 

The group aims to inform the public, as well as the people of Kalabari and Rivers State, about this planned provocation targeting innocent individuals, including Alhaji Mujahid Abubakr Dokubo-Asari. They emphasize his commitment to supporting President Bola Ahmed Tinubu-led Federal Government and Governor Sim Fubara-led Rivers State Governments in ensuring the safety and security of all Nigerians.

 

 

 

 

 

 

 

Said Mr Mpakaboari Pankin Braide

Secretary Edi Abali Group Of War Canoe and Chieftaincy Houses,

 

 

 

 

 

 

“We want the public, people of Kalabari and Rivers State to be aware of this planned provocation targeting innocent individuals, including Alhaji Mujahid Abubakr Dokubo-Asari, who remains committed to supporting the President Bola Ahmed Tinubu-led Federal Government and Governor Sim Fubara-led Rivers State Governments in ensuring safety and security for all Nigerians.”

 

 

 

 

 

Released and signed by;

Mr Mpakaboari Pankin Braide

Secretary Edi Abali Group Of War Canoe and Chieftaincy Houses

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Politics

Nigeria: The Changing Governance Story

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Nigeria: The Changing Governance Story

Today, however, Nigeria is home to the largest single-train refinery in the world, with the capacity to process 650,000 barrels of crude per day

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Nigeria: The Changing Governance Story

 

 

 

 

 

 

 

By Temitope Ajayi

 

 

 

 

 

 

 

Sahara Weekly Reports That Tracking many stories of remarkable progress currently taking place in Nigeria can be a challenging task. This is so because these important stories are lost to some who daily indulge in the cacophony of adverse reports. These negative news often dominates the headlines.

 

 

 

 

Nigeria: The Changing Governance Story

 

 

 

 

 

With a 24-hour news cycle that tends to focus mainly on distasteful narratives, several Nigerians have been made to accept the view that nothing good is happening in their country.

Those who rely on the mainstream media and social media as the only sources of news and information they consume are the worst hit by the cycle of misinformation that portrays our country as descending rapidly to the edge of the precipice. However, the reality is different: the country is making progress in leaps and bounds.

 

 

 

 

 

 

Late Swedish physician and Professor of International Health at Karolinska Institute, Hans Rosling, his son, Ola Rosling, and daughter-in-law, Anna Rosling, extensively dwell on this subject in “Factfulness: Ten Reasons We’re Wrong About the World – and Why Things Are Better Than You Think,” a book published in 2018. In the book, the authors demonstrate that most people are made to hold the wrong notion about the state of the world because the media project data, analyse trends and select stories to make people assume that things are getting worse around them. The authors assert that a majority of people view the world as poorer, less healthy, and a more dangerous place to live in than it actually is. In other words, many people believe they are living in a worse period in the history of mankind because of misinformation.

 

The same situation the Roslings describe in their book is at play in Nigeria, where individuals, interest groups, activists, analysts, self-serving politicians, and opposition elements constantly project and amplify negative stories.

It is as if we are in a race with those who can say the most horrible things about our country. Yet, we have an abundance of good stories to tell the world. We seem so numb to the good news that we are dismissive of breakthroughs and innovative trends. For instance, we downplay the significance of Dangote Petroleum Refinery and its possibilities to reflate the economy.

 

Many people forgot so soon that we had been importing petroleum products for over three decades because the state-owned refineries are moribund. Our national economy bled, and the country was in a fiscal cul-de-sac for those years as a result of subsidy payments on petroleum products.

 

Today, however, Nigeria is home to the largest single-train refinery in the world, with the capacity to process 650,000 barrels of crude per day. Cynics do not see this as a breakthrough.

 

Nigerians who are 60 years old and below started seeing modern rail infrastructure in 2016 when the All Progressives Congress-led administration of former President Muhammadu Buhari commissioned the standard gauge rail system, beginning with the Abuja-Kaduna route, later Lagos-Ibadan and then the Warri-Itakpe.

 

The national rail modernisation project is progressing with Kano-Katsina-Maradi and Kano-Kaduna standard gauge rail projects at different stages of completion. The contractor working on the rehabilitation of the Port Harcourt-Maiduguri narrow gauge recently announced the completion of the Port Harcourt-Aba section. While the Federal Government is rallying stakeholders to promote economic integration across the country, the Lagos State Government recently launched two metro rail lines -Blue and Red Rail lines – as part of the state’s elaborate master plan to build a modern and efficient megacity. Like Lagos State, there are visible signs of remarkable, quantifiable progress in several other states, including Kaduna, Kano, Akwa-Ibom, Rivers, Kebbi, Borno, Gombe, Oyo, Ekiti and Ogun, among others.

 

A few weeks ago, the President Bola Tinubu-led administration embarked on the construction of the 700 kilometres Lagos-Calabar Coastal Highway that will connect nine coastal states in another bold move to bolster economic growth further and open up the country to productive economic activities.

 

While it may be very easy for critics and other armchair analysts to ignore these developments and their significance to remaking Nigeria, there is no gainsaying that these projects and many more that are ongoing or about to be instituted across critical sectors are the core of President Tinubu’s Renewed Hope Agenda. Indeed, it is hard to process why the so-called critics and cynics can not see the Lagos-Calabar Highway project as a clear demonstration of the President’s commitment to harnessing the potential of our renascent Blue Economy.

 

Despite what is bandied by the most vociferous critics

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