News
SERAP Threatens Buhari With Legal Action Over Spending On SIPs

Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “promptly set up a presidential panel of enquiry to thoroughly, impartially, effectively and transparently investigate spending on all social safety nets and poverty alleviation programmes and projects executed between 2015 and 2022.”
SERAP also urged him “to ensure the findings of any such investigation are widely published and suspected perpetrators of corruption and mismanagement of public funds meant to take care of the poor should face prosecution as appropriate, if there is sufficient evidence, and any stolen public funds should be recovered.”
A recent report by the National Bureau of Statistics (NBS) shows damning revelations that some 133million Nigerians are poor, despite the government reportedly spending N500billion yearly on ‘social investment programmes.’
Half of all poor people in the country are children.
In the letter dated November 19, 2022, and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said: “The report suggests a grave violation of the public trust, and the lack of political will to genuinely address poverty, and uphold your government’s constitutional and international human rights obligations.”
SERAP said, “The report that 133million Nigerians are poor suggests corruption and mismanagement in the spending of trillions of naira on social safety nets and poverty alleviation programmes, including the reported disbursement of over $700million from the repatriated Abacha looted funds to these programmes.”
SERAP said the government has legal obligations to effectively and progressively address and combat extreme poverty as a matter of human rights.
It maintained that the failure of the government to address extreme poverty has resulted in a high level of inequality and serious violations of the economic and social rights of Nigerians, particularly the socially and economically vulnerable sector of the population.
The letter, copied to the UN Special Rapporteur on Extreme Poverty and Human Rights, Mr Olivier De Schutter, read in part: “These grim revelations by the NBS show the failure to fulfil your oft-repeated promise to lift 100million Nigerians out of poverty, and that no one will be left behind.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.
“The report also shows that the purported social safety nets and poverty alleviation programmes are clearly not working. It also shows a failure by your government to uphold the constitutionally and internationally guaranteed human rights of the Nigerian people.
“SERAP also urges you to prioritise investment in quality education and healthcare, and to redirect some of the unnecessary spending in the 2023 budget such as spending by the presidency on feeding and travels, and money allocated to the National Assembly in the budget to address poverty as a human rights issue.
“A supplementary appropriation bill, which reflects the proposed redirected budgets should be urgently sent to the National Assembly for its approval.
“Your government has a sacred duty to ensure transparency and accountability in the spending of the country’s resources, including the spending of public funds on social safety nets and poverty alleviation programmes and projects.
“Section 14(2)(b) of the Nigerian Constitution of 1999 [as amended] provides that, ‘the security and welfare of the people shall be the primary purpose of government.’
“Under Section 16(1)(a)(b), your government has the obligations to ‘harness the resources of the nation and promote national prosperity and an efficient, a dynamic and self-reliant economy’ and to secure the maximum welfare, freedom and happiness of every citizen.
“Nigeria has also ratified the African Charter on Human and Peoples’ Rights and the International Covenant on Economic, Social and Cultural Rights, which recognize legally enforceable economic and social rights, such as the rights to education, health, safe food and clean water, security, and shelter.
“Allegations of corruption in social safety nets and poverty alleviation programmes pose both direct and indirect threats to human rights, and contribute to extreme poverty in the country.
“Nigerians have the right to be free from poverty. Extreme poverty is the greatest denial of the exercise of human rights, as it denies millions of Nigerians not only their economic and social rights but also civil and political rights such as the rights to life, human dignity, and political participation.
“Political freedom and participation are closely related to human development. Without economic and social rights, people cannot effectively enjoy their political freedom. Therefore, effectively and progressively addressing poverty would improve the ability of Nigerians to exercise their political freedom and to have choices in life.
“Successive governments have systematically neglected social and economic rights and failed to address severe poverty and inequality in the country.
“Part of the problem is the failure by your government to promote the legal recognition of economic and social rights in the Nigerian Constitution, which would allow people living in poverty to seek redress for violations of their human rights.
“The allegations of corruption and mismanagement in the spending of public funds on social safety nets and poverty alleviation programmes and projects would clearly amount to a fundamental breach of national anticorruption laws and the country’s international anticorruption obligations.
“Investigating and prosecuting the allegations, and recovering any stolen public funds would serve the public interest.
“SERAP notes that the consequences of corruption are felt by citizens on a daily basis. Corruption exposes them to additional costs to pay for health, education and administrative services.
“Corruption undermines economic development of the country, trapping the majority of Nigerians in poverty and depriving them of employment opportunities.
“The 2022 Multidimensional Poverty Index (MPI) Survey reveals that 65percent of the poor (86million people) live in the North, while 35percent (nearly 47million) live in the South. Poverty levels across states vary significantly, with the incidence of multidimensional poverty ranging from a low of 27percent in Ondo to a high of 91percent in Sokoto.
“The NBS also shows that over half of the population of Nigeria are multi-dimensionally poor and cook with dung, wood or charcoal, rather than clean energy. High deprivations are also apparent nationally in sanitation, healthcare, food insecurity and housing. Half of all poor people are children.”
News
Tinubu Orders Security Chiefs To Restore Peace In Plateau, Benue, Borno

President Bola Tinubu has ordered a security outreach to the hotbeds of recent killings in Plateau, Benue and Borno States, to restore peace to areas wracked by mass killings and bomb attacks.
National Security Adviser, Nuhu Ribadu, disclosed this to State House correspondents after a four-hour security briefing with the President at the Aso Rock Villa, Abuja on Wednesday.
“We listened and we took instructions from him. We got new directives…to go meet with the political authorities there,” Ribadu told reporters, adding that Tinubu directed them to engage state-level authorities in the worst-hit regions.
Director-General, National Intelligence Agency, Mohammed Mohammed; Chief Defence Intelligence of the Nigerian Army, Gen. Emmanuel Undianeye; Director-General, Department of State Services, Oluwatosin Ajayi and Chief of Staff to the President, Femi Gbajabiamila, appeared for the briefing.
The Tide’s source reports that in Plateau State, inter-communal violence between predominantly Christian farmers and nomadic herders spiralled into gory slaughter when gunmen stormed Zikke village in Bassa Local Government early on April 14, killing at least 51 people and razing homes in a single night.
In Benue, at least 56 people were killed in Logo and Gbagir after twin assaults blamed on armed herders.
Meanwhile, in Borno State, eight passengers perished and scores were injured when an improvised explosive device ripped through a bus on the Damboa–Maiduguri highway on April 12.
Ribadu explained that after an extensive briefing, intelligence chiefs received fresh instructions to restore peace, security and stability across Nigeria.
“In particular, Tinubu had ordered immediate outreach to the political authorities in Plateau, Benue and Borno States, and the defence team had gone round those States to carry out his directives and report back.
“We gave him an update on what has been the case and what is going on, and even when he was out there, before coming back, he was constantly in touch. He was giving directives. He was following developments, and we, in charge of the security, got the opportunity today to come and brief him properly for hours. And it was exhaustive.
“We listened and we took instructions from him. We got new directives. The fact is, Mr. President is insisting and working so hard to ensure that we have peace, security and stability in our country. We gave him an update on what is going on, and we also assured him that work is ongoing and continues.
“We also carried out his instructions. We went round, the chiefs were all out where we had these incidents of insecurity in Plateau State, Benue State, even Borno, these particular three states, and we gave him feedback, because he directed us to go meet with the political authorities there,” the NSA explained.
Ribadu described Tinubu as “worried and concerned,” and said he directed that all security arms be deployed around the clock.
The government, he added, believes these steps have already produced measurable improvements, even if the situation is not yet 100 per cent safe and secure.
“He’s so worried and concerned, he insisted that enough is enough, and we are working and to ensure that we restore peace and security and all of us are there. The armed forces are there, the Civil Police, intelligence communities, they are there.
“They are working there 24 hours, and we feel that we have done enough to believe that we are on the right course, and we’ll be able to be on top of things,” Ribadu stated.
The NSA emphasised that combating insecurity was not solely a Federal Government responsibility.
He stated, “The issue of insecurity often is not just for the government. It involves the subunits. They are the ones who are directly with the people, especially if some of the challenges are more or less bordering on community problems.
“Not entirely everything is that, but of course it also plays a significant role. You need to work with the communities, the local governments, and the governors, especially the governors.
“The President will continue to direct that. We should be doing that, and that’s what we are able to. We are very happy and very satisfied with the instructions and directives given by Mr. President this evening.”
In Borno State, the NSA noted that while violence had surged in recent months, the insurgents refused to accept defeat.
He warned that most recent casualties there resulted from improvised explosive devices—”cowardly” IED attacks targeting civilians—and from opportunistic raids that follow any lull in fighting.
“We are getting the cooperation of the leadership at the state level, and everybody. It’s not 100 per cent…but we are going there.
“When you are having peace and you are beginning to get used to it, if one bad incident happens, you forget the periods that you enjoyed peacefully,” he added.
He paid tribute to the “many who do not sleep, who walk throughout, who do not go for any break or holiday”—the soldiers, police and intelligence officers whose sacrifices have created the fragile calm Nigerians now experience.
“They will continue to be there,” he said, adding, “Things have changed in this country…we are on the right track and we will not relent. We will not sit down; we will not stop until we are able to achieve results.”
News
FG Laments Low Patronage Of Made-In-Nigeria Products

A Federal Government agency – the National Agency for Science and Engineering Infrastructure, has decried the low patronage of Nigerian-made products by Nigerians.
The agency identified some challenges leading to the low patronage of the local products as affordability and public perception, among others.
Speaking during a stakeholders meeting organised by the agency in Akure, Ondo State capital, yesterday, the Deputy Director of Engineering at NASENI, Mr Joseph Alasoluyi, said Nigerians preferred buying foreign goods compared to local goods.
Alasoluyi, however disclosed that the agency had trained over 50 participants in the production of hand-made products, in a bid to ensure Nigeria-made products are patronised.
He explained that NASENI was set up to promote science, technology, and engineering as a foundation for Nigeria’s development and currently operates 12 institutes nationwide to achieve its objectives.
According to him, the aim of President Bola Tinubu, who is also the overall chairman of NASENI, was to ensure high production and patronage of “our local products thereby creating employment opportunities for many.”
He said, “The idea of this programme is to interface to ensure we produce products using our indigenous technology. This is what NASENI is out for, to ensure that homegrown technologies are encouraged.
“We are out there to ensure we integrate efforts to ensure that local technology is used to develop products within the resources we have.
“ The NASENI’s ‘3 Cs’ – Creation, Collaboration, and Commercialisation – that define NASENI’s strategic mandate: Creating innovations through research, Collaborating with partners to develop and refine products, and Commercialising these solutions to benefit the economy.
“Our achievements include the development of solar irrigation systems, CNG conversion centres, building machines capable of producing up to 1,000 blocks per hour, 10-inch tablets, locally made laptops, and electric tricycles (Keke Napep) set for market launch.”
In his remarks, the Deputy Vice Chancellor of the Federal University of Technology, Akure, Prof. Samuel Oluyamo, blamed the Federal Government for not properly funding research in the varsities, also noting that many research outputs were left halfway due to lack of funding and weak linkages between research institutions and industry.
Oluyamo also queried the Federal Government’s commitment to funding research and development, saying many academic innovations remained on the shelve due to a lack of support for commercialisation and poor infrastructure.
“Until we upscale research into mass production, technological growth will remain elusive. The government is not funding research in the universities enough. Thank God for TETfund that is trying in this regime. The major interest in beefing up research in universities and research institutions is really not there,” he said.
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Nigeria Seeks Return To JP Morgan Bond Index
The Director-General of the Debt Management Office, Patience Oniha, has said that Nigeria is in advanced discussions with JP Morgan to re-enter the Government Bond Index and renew investors’ confidence.
Oniha disclosed this on Wednesday at a Nigerian Investors’ Forum on the sidelines of the World Bank and International Monetary Fund Spring Meetings in Washington, D.C.
The DMO boss explained that Nigeria has enjoyed favourable credit assessment among rating agencies in recent times on the back of the sweeping reforms initiated by the Central Bank of Nigeria.
Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings of seven Nigerian banks and two bank holding companies to ‘B’ from ‘B-‘, noting that the outlooks are Stable.
The affected issuers are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Limited, Guaranty Trust Holding Company Plc, First HoldCo Plc, First Bank of Nigeria Ltd, Fidelity Bank Plc and Bank of Industry Limited.
The upgrades of the Long-Term IDRs of the banks followed the recent sovereign upgrade and reflect Fitch’s view that Nigeria’s sovereign credit profile has become less of a constraint on the issuers’ standalone creditworthiness, the rating agency said.
Fitch also upgraded Nigeria’s Long-Term IDRs to ‘B’ from ‘B-‘ on 11 April, a decision that reflected increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including exchange rate liberalisation, monetary policy tightening and steps to end deficit monetisation and remove fuel subsidies.
“These have improved policy coherence and credibility and reduced economic distortions and near-term risks to macroeconomic stability, enhancing resilience in the context of persistent domestic challenges and heightened external risks,” Fitch said.
Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its deviation from orthodox monetary policies and influence of capital control in its management of foreign exchange.
Principally due to reduction in oil revenues at the time, Nigeria introduced currency restrictions to defend the naira after it failed to halt a dangerous slide with burning of dollar reserves. The bank had earlier warned Nigeria to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles.
“Foreign investors who track the GBI-EM series continue to face challenges and uncertainty while transacting in the naira due to the lack of a fully functional two-way FX market and limited transparency,” the bank said in a 2015 note.
Nigeria was listed in JP Morgan’s emerging government bond index in October 2012, after the Central Bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting.
The JP Morgan Government Bond Index reflects investor confidence and opens doors to billions of investment flows, making Nigeria’s proposed re-entry a positive signal to the market and investors.
Oniha explained that talks with JP Morgan were ongoing and had gained momentum in recent times due to the stability created by the FX market reforms.
“With all the reforms that have taken place, particularly around FX, we have started engaging JP Morgan again to get back into the index. We think we are eligible now,” the DMO DG said.
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