Politics
RSHA And Task Of Debt Management
The Rivers State Government recently obtained a revolving loan of N200bn from banks for project execution in the State, with a plan of repayment through Internally Generated Revenue on an agreed interest rate.
The decision of the State Government is in apparent conformity with the desire of the Rivers State Governor, Rt Hon. Chibuike Amaechi to complete all projects initiated by his administration. In seeking the loan through a request of approval by the State House of Assembly, the Governor explained that it does not imply that Rivers State was broke, rather it became necessary to meet up targets by ensuring that money is not a constraint to speedy delivery of ongoing projects.
In the course of its deliberation and subsequent approvals of the two loan requests, the Rivers State House of Assembly, certified that the internally Generated Revenue, (IGR) profile of the state was buoyant enough to service the loans on agreeable terms. The State lawmakers also consented to the necessity of the loan in view of the “many people oriented project embarked upon by the Governor”. The Assembly therefore gave the governor smooth ride to stave off all distractions through its legislative backing.
Pundits and virulent critics of the Government has however expressed reservation over its decision to obtain the loans, referring to it as “a booby trap for fiscal impropriety and profligacy in the State”.
In the general estimation of analysts, the propensity for loan is a predisposition to mortgaging the economic future of the state to serving of accruing interest of accumulated loans.
Analysts believes that Rivers State by all standard is disposed financially to carry out projects without recourse to borrowing, and as such accuse the State Assembly of a tacit connivance to squander the state resources.
But the Rivers State House of Assembly Stand by its decision and as a follow up is exploiting its legislative will to augment governments decision and to get it appropriately channeled towards accountable governance. Recently the State Assembly initiated a bold move to forestall the looming prospect of a debt burden for the State.
The initiative came at the instance of the leader of the Assembly Hon Chidi Iloyd through a privately sponsored bill, calling for the establishment of a debt management office in the state. The bill referred to as “Rivers State Debt management office (Establishment) bill 2011”, is an initiative of the Emohua born lawmaker to strengthen the Rivers State Government on borrowing and debt management to forestall a crippling debt burden in the State.
Introducing the bill on the floor of the House, Hon Chidi Iloyd, said “the law is to provide for the raising of loans through the issuance of bonds, notes and other debt securities and for connected purposes”.
He said the bill when passed as law; “will serve as a legal framework to guide the government in the raising of bond and loan for pursuance of projects, building of infrastructure for the economic development of the State”.
Reacting to public criticism of the bill, Hon Chidi Iloyd denied allegations that the bill stands to institutionalized profligacy in the spending of public fund, by giving limitless powers to the Governor to Squander the state. Hon Ilyod said the bill was part of the process of consolidating the state revenue based.
The bill had undergone its first and second readings on the floor of the house and it is presently been debated upon by members of the state Assembly.
The bill which has 27 clauses and 28 citations, came under debate on the floor of the House after members gave it proper perusal and digesting it details for proper deliberation.
While the lawmakers appreciated the fact that Government’s decision to borrow, presupposes the fact that there must be proper management of the loan obtained for fiscal propriety in the state, some of them expressed reservation on the workability of the bill.
In his contribution on the floor of the House, Hon Victor Ihunwo representing Port Harcourt constituency III called for the withdrawal of the bill on the grounds that it demerits out-weights it merits. Hon Ihunwo reasoned that beyond creating employment opportunities for Rivers people, “the bill did not include how the debt management will brief the House periodically to avert the temptation of borrowing by subsequent governments. He also argued that the state do not require more borrowing.
Debating on the issue, Hon Golden Chioma kicked against the recommendation that the Rivers State Commissioner for finance should be the head of the debt management office.
He called for an independent chairman for the office arguing that the state commissioner for finance was already saddled with executive functions. He called for fresh nominees to appear before the House for screening for appointment as directors of the debt management office, while the Hon Commissioner for finance, the secretary to the State Government, (SSG) and the Accountant General of the state should serve as members.
Hon Chioma who supported the bill, said it was in line with ‘the federal government act which made provision for the establishment of debt management office” while calling for the domestication of the bill in Rivers State, he said the five years duration of tenure recommended for the directorate should be reduced to four years.
Hon Ikunyi Ibani of Andoni Constituency, supported the bill and stated that “if the government is committed to borrowing it should also have a modified means of repayment.
He thanked the leader for sponsoring the bill and tasked the Assembly on the need for proper monitoring of the loan facilities.
His words: “If the Assembly has power to grant the executive request to borrow it also has the power to regulate the mode of repayment”. Hon Ibani also suggested that the debt management office should be established as a department in the Rivers State Ministry of Finance.
Hon Augustine Ngo of Abua Odual constituency who also supported the bill said it was timely and also provided the opportunity for “the Assembly to put the records straight and wade off criticism and media hypes over alleged endorsement of profligacy in public spending”. Hon Ngo also shared the same view with Hon Chioma that the directors should be fresh nominees to be screened by the Assembly.
Hon (Dr) Innocent Barikor of Gokana Constituency also supported the bill on the ground that it will check the tendency of abuse of public fund. He said people with proven integrity and the right technical expertise should be appointed in the directorate.
Also contributing, Hon Belema Okpokiri, of Okrika constituency said the establishment of the debt management office was necessary but suggested that “overriding powers should be vested in the Assembly on the activities of the office”.
Hon Michael Chinda representing Obio/Akpor Constituency I, described the establishment of the debt management office as “part of Government planning strategy on debt management.”
Hon Chinda called for the inclusion of a clause in the bill stipulating that “all debts incurred by a particular government should be zeroed to bearest minimum, by ensuring that all such debts are liquidated within the last lapse of the administration.” He also suggested that the Attorney General of the State should be a member of the board of directorate of the debt management office.
Hon Gift Nwokocha of Ogba Egbema Ndoni Constituency I, supported the bill and pointed out that, “issues of debt management is necessary but it is important to know when it is necessary for the state to borrow and when not to borrow”.
The deputy speaker of the State House of Assembly, Hon Leyii Kwane who presided over the session, said the bill debated on the floor of the house was critical to the development of the state, and added that members will be given due opportunities to contribute on the issue.
The Rivers State debt management office (establishment) bill 2011, is the first privately sponsored bill since the resumption, of the 7th House of Assembly in Rivers State. Subsequent deliberation of the House will determine if the bill will scale through as law.
Taneh Beemene
Members of the Lagos State House of Assembly, on Monday, passed a vote of confidence in Mojisola Meranda as the Speaker of the Assembly.
The lawmakers expressed their confidence in her leadership at the plenary, which Rt Hon. Meranda presided over amidst tight security.
The Tide’s source reports that there was a growing tension at the assembly as legislative workers protested against the alleged plans to remove Rt Hon. Meranda as the Speaker of the Assembly.
The legislative workers also clashed with the operatives of the Department of State Security (DSS) who, in the early hours of Monday, stormed the assembly and sealed Rt Hon. Meranda’s office alongside that of her Deputy and the Clerk.
Our source had reported how armed security personnel took over the complex at Alausa, Ikeja, leading to palpable tension among the lawmakers and workers of the assembly.
There are indications that the ongoing imbroglio at the assembly following the removal of Mudashiru Obasa as Speaker on January 13 has not abated.
The Monday’s drama came a few days after Mr Obasa, who was removed for alleged abuse of office and corruption, dragged the state lawmakers to court, challenging his removal as the Speaker of the Assembly.
There are alleged plans to return Mr Obasa as the Speaker, a development which has further heightened tension at the assembly.
The Tide’s source reports that when Meranda arrived the assembly complex amidst tight security around 11:15 am on Monday, many legislative workers showed solidarity with the first female Speaker over alleged plans to remove her.
“Meranda we want”, “Meranda We want”, the workers were chanting in a short video clip.
Rt Hon. Meranda visibly overwhelmed by emotion was surrounded by her security details amid the chaotic atmosphere.
Inside the chamber, officials of the DSS clashed with the legislative workers, leading to commotion.
The DSS officials, dressed in black jackets and helmets and armed with weapons, struggled with the workers at the door.
The Tide’s source gathered that, with support from the legislative workers, lawmakers had earlier forced their way into the chamber around 12:30 pm.
It was further gathered that Rt Hon Meranda and about 32 members were present at the plenary.
A short video clip of the plenary showed that all the lawmakers in attendance had passed a vote of confidence on Rt Hon Meranda.
“Madam Speaker, all members standing before you, I move a motion to say that we do pass the vote of confidence on Rt Hon Mojisola Lasbat Meranda”, a lawmaker said.
The motion was supported by all members in attendance.
The Peoples Democratic Party (PDP) and the All Progressives Congress (APC) in Osun State, on Monday, traded words over the alleged killing of three persons.
Members of both parties were locked in battle for the control of some local government secretariats. While two persons were killed in Iragbiji in Boripe Local Government Area, another was killed in Irewole Local Government Area.
There had been tension across the state over the Court of Appeal judgment in respect of the sacked APC council chairmen and councillors.
While the PDP claimed that the Feb. 10 judgment of the Court of Appeal, Akure, did not reinstate the sacked APC chairmen and councillors elected in 2022, APC insisted on their return.
Speaking with journalists in Iragbiji, Korede Ajeigbe, the commissioner for government affairs and protocol, claimed that two PDP members were killed while trying to prevent APC members from taking over a secretariat.
Mr Ajeigbe also said that six PDP members were seriously injured and were currently receiving treatment in the hospital.
APC, however, alleged that PDP members attacked its members while trying to enforce the Court of Appeal judgment.
Addressing a news conference in Osogbo, Bayo Adeleke, a chieftain of the APC, claimed that one of the party’s prominent members was killed during the crisis.
He also alleged that another member of the party, Remi Omowaye, escaped an assassination attempt in Ilesa.
Mr Adeleke, a former commissioner for local government and chieftaincy affairs, urged the state government to allow peace to reign by allowing the APC chairmen and councillors to return to office.
Another chieftain of the party, Jamiu Olawumi, claimed that APC chairmen had resumed in 15 local governments of the state.
This claim, however, could not be immediately verified.
When contacted, the police spokesperson in the state, CSP Yemisi Opalola, said she was yet to be briefed on the alleged killings.
Ms Opalola, however, said police officers had been deployed to all the local government secretariats in the state to prevent breakdown of law and order.
Meanwhile, Gov. Ademola Adeleke has directed workers as well as politicians to stay away from local government secretariats to avoid further bloodshed.
Mr Adeleke, in a statement by his spokesperson, Olawale Rasheed, said only security agents would be allowed to keep watch at the secretariats.
He condoled with families of victims of the crisis.
Leader of the 8th Opobo/Nkoro Legislative Assembly, Barrister Samuel Nengia, has passed a vote of confidence on the Chairman of the LGA, Dr. Enyiada Cookey-Gam, as he marked his first one hundred days in his second term in office.
Speaking with newsmen recently in Port-Harcourt on Dr Cookey-Gam and the celebration of his first one hundred days in office, among other people-oriented development projects and programmes, Nengia argued that the Chairman and his team have recorded unprecedented developmental strides, which includes infrastructure transformation, empowerment, security, human capital development, payment of the approved N85,000. 00 minimum wage to Opobo/Nkoro workers’, among others.
He pointed out that his commendation was apt as the activities of the Chairman had been monitored and discovered to reflect the expectations and yearnings of the people, especially, the promotion of council staff, the refurbishment of the Assembly Complex to standard, the construction of Corpers’ Lodge, the provision of effective transportation system for the well-being of the people in the area.
Hon. Nengia, representing Opobo/Nkoro Ward 6, averred that the people of the LGA could now sleep with their eyes closed owing to Dr Cookey-Gam’s achievements in in the security sector.
He added that the vote of confidence the Council’s number one citizen would strengthen him to deliver more democratic dividends to Opobo/Nkoro people.
He admonished Opobo/Nkoro people to rally support for the Chairman to perform creditably well for the well-being of the electorate in the area.
Meanwhile, Barr. Samuel Nengia, has thanked Governor Siminalayi Fubara for appointing three illustrious sons of Opobo/Nkoro Local Government Area into positions of trust vis former Commissioner for Education, Dr. Tamunosisi Gogo Jaja, as Chairman, Rivers State House of Assembly Service Commission; former Secretary of Opobo/Nkoro Local Government Area, Engr. Edward Namiesimagha, as Chairman, Rivers State Waste Management Agency (RIWAMA) and Surveyor Peter Ogolo, as Surveyor-, General of the state.
Hon. Nengia, who described the appointments as well deserved, however, enjoined the appointees to bring their leadership wealth of experience to bear in the herculean tasks of reviving their various areas of jurisdiction.
Bethel Toby