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Disclose Nigeria’s Loan Agreements Since 1999, SERAP Tells Tinubu
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to disclose the agreements and spending details of loans obtained by the administrations of Nigeria’s past presidents since May 1999.
SERAP also urged Tinubu “to direct appropriate ministries, departments and agencies to provide our organisation with copies of the loan agreements obtained by the governments of former Presidents Olusegun Obasanjo, Umaru Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.”
This was disclosed in a statement issued by the organisation’s Deputy Director, Kolawole Oluwadare, yesterday.
SERAP is seeking “the spending details of any such loans as well as the interests and other payments so far made on the loans.”
SERAP ‘s request covers the tenure of four Nigeria’s past democratically-elected presidents who ruled for eight years from 1999 to 2007.
Obasanjo’s administration was succeeded by the late Yar’Adua (2007 – 2010); followed by Jonathan (2010 – 2015); and then the immediate past president, Buhari, whose administration ruled from 2015 – 2023.
The organisation stated that “widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.”
SERAP lamented that the details provided may help to explain why “despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.”
This latest demand by SERAP is coming two weeks after it gave the Kaduna State Governor, Uba Sani; the Minister of the Federal Capital Territory, Nyesom Wike, and other 35 state governors one-week ultimatum to provide the loan agreements and spending details of the loans obtained by their states and the FCT.
As contained in the latest sub-national debt – domestic and external debts, which were released by the Debt Management Office as of December 30 and June 30, 2023, respectively; The Tide learnt that “for the sub-nationals, Plateau got N16.32bn; Rivers borrowed N7.07bn; Zamfara, N14.26bn; and the FCT under the leadership of Nyesom Wike borrowed N6.75bn from domestic creditors,” amongst others.
However, in its response, the Zamfara State Government refuted the DMO’s report that it borrowed N14.26 billion, adding that it has “never applied for loans or approached the state Assembly or National Assembly for such a request.”
Also, the Kaduna State Government, through the Ministry of Finance, denied procuring a fresh $17.69m loan.
“We did not borrow the said amount or any other amount as reported. The claims are entirely false and fabricated,” said the state Commissioner for Finance, Shizzer Bada.
However, SERAP demanded that Tinubu should establish an “independent audit on the spending of the loans obtained by the governments of the former presidents,” and make its results available to the public.
“Democracy requires accountability and accountability requires transparency.
“Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information,” SERAP said.
The statement noted that publishing the agreements and details of spending of the said loans “would demonstrate” Tinubu’s “oft-expressed commitment to openness in government and to promote accountability,” adding that it would also “improve public accountability” in the MDAs.
Quoting the DMO, SERAP said that “the total public domestic debt portfolio for the country is N97.3 trillion ($108 billion). The Federal Government’s debt is N87.3 trillion ($97 billion).”
It said that the interest paid on loans by the FG in 2015 was $5.5 billion; in 2016, $4.4bn; in 2017, Nigeria paid $5bn as interest; in 2018, $6.5bn was paid; while $6.2bn was paid in 2019.
“We would therefore 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 organisation said.
It noted that Tinubu’s administration “has a responsibility to ensure transparency and accountability in how any loans obtained by the Federal Government are spent, to reduce vulnerability to corruption and mismanagement.
“Our requests are brought in the public interest, and in keeping with the requirements of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the UN Convention against Corruption, the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights to Nigeria is a state party.
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their government’s activities,” the statement concluded.
News
Work on Eleme Road delaying fuel distribution from PH Refinery – PETROAN
The Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) has expressed concern over the slow pace of work by Reynolds Construction Company (RCC) on the Eleme East-West Road project, Port Harcourt axis.
The National President of PETROAN, Dr Billy Harry, in a statement yesterday, said that the delay was happening in spite of the N33 billion said to have been released by the Federal Ministry of Works, for the project.
Harry decried the challenges the deplorable road posed, saying that it was sabotaging President Bola Tinubu’s efforts to ensure the smooth distribution of petroleum products from the renovated Port Harcourt Refinery.
“Thousands of petroleum trucks will be using the road to convey products from the renovated Port Harcourt refinery, so, further delay is detrimental.
“The Eleme East-West Road is a critical route for the transportation of petroleum products, and its safety is paramount.
“The road’s deplorable condition poses a significant risk to trucks carrying petroleum products, which could lead to catastrophic accidents and environmental disasters.
“PETROAN is calling on the President to evaluate the ongoing contract by RCC in line with the contract timeline.
“This move will consolidate his renewed hope agenda by ensuring the timely completion of the Eleme East-West Road project.”
Harry said that about 60 retail outlets were negatively impacted by the road construction, and requested adequate compensation for owners of the fuel stations.
He recalled that the Minister of Works, David Umahi, in a press conference, had also complained about the slow approach of RCC, leading to the issuance of a seven-day ultimatum by the Minister.
“Furthermore, PETROAN is calling on the Minister of Works, David Umahi, to fast-track the contract evaluation process and take decisive action to address the slow pace of work by RCC.
News
Old Students’ Association Marks Anniversary
The Rivers Secondary Schools Old Boys and Girls 1983 Set Association marked its one year anniversary in Port Harcourt on 22nd December 2024.
The association is a body of old boys and girls of 1983 graduating set of secondary schools in Rivers State, Nigeria conceptualised to provide opportunities for reconnection and reminiscing over old times, networking, creating avenues for personal and professional growth, fostering friendships and celebrating milestones.
The one year anniversary gathering which took place at Galaxy PHD Event Centre, in GRA Phase 2, Port Harcourt, brought together different professionals and was heralded with classic photo shoot session, free speeches and talks on how to move the association to greater heights. It was rounded off with a dinner.
Speaking at the event, the Chairman of the Board of Trustees of the association, Chief Hope Kuku, congratulated members for the one year anniversary.
He encouraged members to reach out to more classmates in order to grow the association as the advantages are enormous in terms of business growth and social interactions.
He said he was already looking forward to a steady growth of the Association to mark the 10th anniversary.
Also speaking, the President of the association, Barrister Tubokumba Harry, described the last one year of the association as “exciting and really fulfilling” promising to “get more of our set mates on board”.
He stated that the coming together as classmates of the same set would inculcate a bond built on shared experiences which can enhance communication skills, promote teamwork and collaboration with lasting memories that members would cherish in the future.
In her own remarks, the Secretary General of the association, Dr (Mrs) Ibinabo Ogolo said one year down the memory lane of the association has been wonderful as members have not only shared experiences but made significant strides towards achieving the aim and objectives of the association.
“We successfully organised programmes like celebrating the Day of the African Child with students of Government Technical College, Trans Amadi, Port Harcourt.
Also, a Road Walk and Health Awareness campaign through Port Harcourt streets to create awareness and sensitize the people of Rivers State on the health importance of walking.
The association also organised a “Hang-Out” session for members on 1st October, 2024 to foster relationships and networking and also joined other groups to relieve stress and depression at the Enjoyment Mega Sit Out at Port Harcourt Club in Port Harcourt.
These activities brought our members and community together”. She said.
On his part, the Chairman of the anniversary planning committee, Mr Tammy Owunaka noted that the association in just one year had grown to enviable height providing a platform for former classmates to reconnect, network and give back to the society.
Furthermore, he stated that the association created opportunities for professional mentorship, developments, and collaboration, thereby helping members to advance in their aspects of endeavour and personal lives.
He said that through the association, members have demonstrated that power of collective action and social responsibility can propel an organisation and commended the sense of belonging and camaraderie among members.
Also speaking, the legal adviser of the association, Barrister Ngozi Ajayi noted that though the association is only one year old, it was already walking on a purposeful path and urged members to remain committed to and focused to make the association one of the best in the state.
In his remarks, Barrister Sylvester Adaka, who is a former Chairman of Nigeria Bar Association, Port Harcourt Branch and a memeber of the association stated that so far the association is on the right path but will progress better with more classmates on board.
He commended the classic photo shoot session as a great way to portray the individual personalities of members, adding that he was looking forward to more events.
News
Nothing’ll Stop Governance In Rivers, Fubara Assures …Says We Won’t Allow Anyone Take State For A Ride
Rivers State Governor, Sir Siminalayi Fubara, has assured that his administration will not leave any stone unturned to checkmate and frustrate anyone or group of persons attempting to stop government from delivering good governance to the good people of the State.
He also assured that with the strong support of the pillars and frontiers of the political class and leaders, particularly those who built the foundational structures of Rivers politics, his administration will not allow any detractor or shenanigan take the State and its people for a ride going forward.
Governor Fubara gave the assurance while addressing Rivers people at a 2025 New Year State Banquet in Government House, Port Harcourt.
He expressed confidence that with the strong organic support of former governors, Dr Peter Odili and Sir Celestine Omehia; former Deputy Speaker, House of Representatives, Sir Austin Opara; former deputy governors, Sir Gabriel Toby and Engr Tele Ikuru; Senators John Azuta-Mbata, Lee Maeba, Andrew Uchendu, Adawari Michael Pepple; former national chairman of PDP, Prince Uche Secondus; former transport minister, Dr Abiye Sekibo; Amb Orji Ngofa; and other former and current elected political office holders and leaders at all levels, with proven integrity and accomplishments, no detractor would stand on the way of the State Government in achieving the giant strides it has set for itself.
The Governor said this year, “We will ensure we protect the integrity of this state, at all cost. We won’t allow anybody take this state for a ride. It doesn’t matter the approach I will use. It’s not going to be a fight. We will follow the issues as we did with the case when they (detractors) started begging. Nothing will stop us from not achieving the purpose of governance in this State.”
With strong confidence and faith in God and the people, the Governor said, “We are not bothered about what they (opposition) will come with. God will always have a way to save us from them. They are going to come, but we are not worried. We are equal to the task. I honestly thank our leaders, from Dr. Peter Odili, Sir Celestine Omehia, Sen John Azuta Mbata, Sir Austin Opara, Prince Uche Secondus, Dr. Abiye Sekibo; to others, for the organic support you are giving to our government.
“A lot of persons would not understand what is really happening. This is not to say we did not have people that were with us and following us and fighting. But one of the troubles they (detractors) have where they are today is that they do not have any (strong) face (in Rivers politics) with them. The beginning and the end of politics in this State is Sir Peter Odili. And if he is sitting with us (here), and with these other persons, who do they have with them?
“This Dr. Odili is the right face and right image of our State. These are the frontiers of Rivers State politics. Men and women that have distinguished themselves are sitting with us (here). People who have contributed in several ways to make Rivers State what it is, not rented people they bring for dinner”, he added.
He recalled that the events of 2024, were a mix bag of daunting challenges, but quickly added that the year ended with his administration scoring more gains than losses, “2024 was not an easy year, but it was great for us in the end. About this time last year, we were not in a very pleasant mood, for fear of what might happen, because of the boasting of those who believe they control life”.
But while boldly projecting the 2025 outlook, the Governor said, “We will continue to put our trust in God as 2024 had been a wonderful year. We had our losses, and our gains. But the most important thing is that our gains surpassed the losses. We can boldly say 2024 was a good year for Rivers State. And year 2025, with your support, we are going to build on the gains of last year.”
He restated his administration’s determination to sustain the Rivers First policy, saying, “We will continue to protect the lives of our people and provide the required services in our State. We are not going to lower our guards. Rather, we will raise our bar because, what is speaking for us today is the achievements we are making in the face of obvious distractions.
“Therefore, raising the bar will be our own way of telling the world that no matter what is happening here, we mean well for the state and know what we are doing. It is not going to be easy. I know. God, at times, keeps evil people to live long to continue their evil, not because He does not know what to do but activities of evil people also keep the righteous people awake,” he stressed.
Governor Fubara commended everyone in the State for their organic support, and solicited for more support in 2025, emphasising, “We are not going to do it alone, because we have not made these gains alone. Whatever win we scored today, it is not myself alone, but the government and the support received from every one of you. I cannot pay you back for doing what is right for your State. It is our State, and at the end of the day, we are building a better future for those to take over after us. That is my own dream for the State.”
The Governor noted that it is not about power and what is done today, but sustaining a system that will be self-preserving, on which everyone can stand and be proud of the State, explaining, “I strongly believe that because of our desire to build, not our (private) supermarkets, or our hotels, but to build a (resilient) State, there is no way we will not succeed, because our interest is not for self, but the collective interest of our people.”
He assured that 2025 is going to be a year of all-round achievements, declaring that by February, 2025, his administration will embark on projects’ commissioning in other sectors, emphasising, “This time around, not roads. Our Fire Service, you can see what we are doing there. For over nine years, there was no functional Fire Service, but today, I can proudly tell you that we have bought all the vehicles, and we are remodelling the offices”.
The Governor added, “Education is the only instrument that can help our youths to avoid criminality and crime. Our State is behind in education, as our primary schools are shadows of themselves. You can see the provisions we made in our budget, and we are making sure education is given the required attention in this State.
“We have done much on health but we are going to spend more because you have to be alive to work. We are doing what we know is right, and doing those things that you can stand anywhere after our administration to defend us that our decisions were right. Nothing will stop us from achieving the purpose of governance in this State”, he vowed.
In his welcome remarks, the Secretary to the State Government, Dr. Tammy Danagogo, noted that the outgone year had been a wonderful one, and commended Governor Siminalayi Fubara, for being focused as an emancipator of the State, saying no matter the antics of the enemies, their acts to distract the government will continue to fail.
While proposing the toast for the New Year, member representing Andoni-Opobo/Nkoro Federal Constituency in the National Assembly, Hon Awaji-Inombek Abiante, said that Governor Fubara’s leadership qualities are a testament to the success of the administration, and prayed for the peace, unity and prosperity of the State, urging the “prodigals” to return home to join in the rebuilding of the Treasure Base of the Nation for future generations.
Highlight of the event was the cutting the New Year Cake by the Governor, who was joined by his Deputy, Prof Ngozi Odu; Speaker, Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo; former governors Peter Odili and Celestine Omehia; Hon Austin Opara; Prince Uche Secondus; retired Justice Mary Odili (JSC); Chief Judge of the State, Justice Chibuzor Simeon Amadi; President, Customary Court of Appeal, Wilfred Ihemnacho Obuzor; Senators John Azuta Mbata, Lee Maeba, Andrew Uchendu, Adawari Pepple; Amb Orji Ngofa; and others.
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