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Lawmaker Criticizes FG’s Plans To Take Another Loan

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Lawmaker from Adamawa South District, Senator Binos Yaroe has kicker against the Federal Government’s plan to take another loan amid lingering economic crises.

The Senator said that by its excessive borrowing, the Federal Government is mortgaging the future of Nigerians.

Yaroe who spoke to newsmen at his residence in Yola, said efforts by him and other senators of the Peoples Democratic Party (PDP) to stop the decision failed.

“All the arguments we raised for the leadership of the Senate to rescind the retrogressive action fell into deaf ears,” Yaroe said.

The senator added, “Year in year out, this country has been living beyond its means, presenting deficit budgets. From one year to the next, we have been engaging in large scale borrowings to fund the budget deficit.

“This is of great concern because whatever the justification for borrowing, what it means is that the present generation of the leadership in the country is mortgaging the future of our children, the future of our grand-children and their grand-children.

“We are using the resources of the future to live today and to maintain our lifestyles today. And the disturbing thing is that much of the budget is always dedicated to recurrent expenditure and recurrent expenditure is generally to maintain service, not to create any further development.

“So, it now becomes difficult for the country to pay this mounting debt in the future.”

Yeroe said it is even more sad that the monies being borrowed are used in maintaining the lifestyles of people in power instead of carrying out capital projects that will add value to the lives of all Nigerians.

Sen Binoes Yaroe faulted the way the Federal Government is handling issues of corruption, stressing that the government has failed to logically prosecute its touted anti-graft war.

“If the government is serious, it could have recouped trillions of stolen monies to fund its budget deficit of over N6 trillion in the 2022 budget,” he asserted.

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Nigerians Seek Woman Who Spoke Out Eloquently Against Fuel Scarcity In Viral 1994 TV Clip

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April 30th 1994, 30 Years Ago, And Till Today Nothing Has Really Changed.

Netizens have gone in search of a beautiful and well-spoken woman who spoke out against fuel scarcity 30 Years Ago.

A user on X.com, Jackie, who identifies as #JWEZEE had shared the video yesterday with the caption, “On this day April 30 1994, same day same time, only difference 30years ago.

“Nigerians in long fuel queues lamenting, 30years later they are still lamenting. And In another 30years will still lament, why? Because patterns don’t lie.”

In the video, which has since gone viral, Nigerians were seen queuing to purchase fuel and lamenting their predicament as citizens waiting in long queues with their gallons to buy fuel.

The woman passionately addressed the unfairness of soldiers skipping queues to resell fuel, highlighting a longstanding problem.

She said in part, “You have the soldiers that come, they buy petrol, they put it in jerry cans they sell it right in front of these people, it’s ridiculous.

“They get the fuel themselves, why do they have to come here, they don’t join the queue, they just buy and they sell right in front of people, it’s ridiculous. Something has to happen.”

The 30-year-old video which recently surfaced coincides with the current fuel price hike across the country.

Here is the viral video from 30 years back.

Currently, the country is facing fuel scarcity and price hike, with fuel being sold at N900 per litre in some states. This has affected the price of goods in the nation.

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FG Declares May 1st Public Holiday To Mark Workers’ Day

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The Federal Government had declared Wednesday, May 1st, 2024, as a public holiday to mark this year’s Workers’ Day.

Nigeria’s Minister of Interior Olubunmi Tunji-Ojo made the declaration, according to the ministry’s Permanent Secretary Aishetu Ndayako.

“The Federal Government has declared Wednesday, 1st May 2024 as a Public Holiday to commemorate this year’s Workers’ Day Celebration,” Aishetu said in a statement on Tuesday, April 30.

“In alignment with this year’s theme, which focuses on ensuring safety and health at work in a changing climate, I wish to state that the Federal Government remains steadfast in its resolve to prioritise the safety and well-being of all citizens,” the minister said.

“Let me reaffirm Mr. President’s commitment to providing a conducive environment for work, where every worker can thrive and contribute meaningfully to national development”.

The minister, who acknowledged the contribution of workers, called for more measures to mitigate the adverse effects of climate change through synergy.

“The Minister also urged Nigerians to remain committed to the present administration’s Renewed Hope Agenda as he wishes workers a happy celebration,” the statement read.

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“There Would Be total Blackout For Three Months If Electricity Tariff Hike Is Not Implemented ” – Minister Of Power Warns

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The Minister of Power, Adebayo Adelabu, has warned that there would be a total blackout in the country in the next three months if the proposed electricity tariff hike is not implemented.

The minister gave the warning in Abuja when he appeared before the Senate Committee on Power at an investigative hearing over the recent electricity tariff hike by the Nigerian Electricity Regulatory Commission (NERC)on Monday, April 29.

In his words

“The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs. The increment will catapult us to the next level. We are also Nigerians, we are also feeling the impact.”

He said the sum of $10 billion is needed yearly for the next ten years to revive the nation’s power sector and nip in the bud the challenges bedevilling it.

“For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years.

“This is because of the infrastructure requirement for the stability of the sector. But the government cannot afford that. And so we must make this sector attractive to investors and to lenders. So, for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.

“If the value is still at N66 and the government is not paying subsidy, the investors will not come. But now that we have increased the tariff for A Band, there are interests being shown by investors,” he said.

Adelabu said the inability of the government to pay outstanding N2.9 trillion subsidy was due to limited resources, hence the need to evolve measures to sustain the sector.

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