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FG printed additional N50bn to support March FAAC – Obaseki
The development, he said, is a clear indication Nigeria is in huge financial trouble.
“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share,” Obaseki stressed
While lamenting the over-dependence on crude oil, the Governor expressed worry over rising debts of the nation.
He canvassed for diversified economy where all the three tiers of government would have a strategic role to play.
“This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16 trillion.
“Imagine a family that is just borrowing without any means to pay back and nobody is looking at that. Everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician,” he said.
He added: “Nigeria has changed. The economy of Nigeria is not the same again, whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil everyday.
“So we have run a very strange economy and strange presidential system where the local, state and federal governments, at the end of the month, go and earn salaries. We are the only country in the world that does that.
“Everywhere else, the government relies on the people to produce taxes and that is what they use to run the local government, state and the federation.
“But with the way we run Nigeria, the country can go to sleep. At the end of the month, we just go to Abuja, collect money and we come back to spend. We are in trouble, huge financial trouble.
“The current price of crude oil is only a mirage. The major oil companies who are the ones producing are no longer investing much in oil.
“Shell is pulling out of Nigeria and Chevron is now one of the world’s largest investors in alternative fuel, so in another year or so, where will we find this money that we go to share in Abuja?”
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BREAKING: Appeal Court Rules VIO Cannot Stop or Impound Motorists’ Vehicles
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The Court of Appeal in Abuja has affirmed the October 4, 2024 judgment of a Federal High Court in Abuja barring the Directorate of Road Traffic Services (popularly called VIO) from further stopping, impounding, or confiscating vehicles on the road and imposing fines on motorists.
In a judgment on Thursday, a three-member panel of the appellate court resolved the three issues identified for determination against the appellant, the Directorate of Road Traffic Services.
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Justice Oyejoju Oyebiola Oyewumi, who delivered the lead judgment, held that the appeal was without merit. She awarded a cost of N1million against the appellant and in favour of the respondent, a rights activist and public interest attorney, Abubakar Marshal.
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Breaking : Ex-CDS Musa Gets Tinubu’s Nod for Defence Minister Role
President Bola Tinubu has nominated a former Chief of Defence Staff, General Christopher Musa, as the new Minister of Defence.
The nomination was conveyed in a letter sent to Senate President, Godswill Akpabio, on Tuesday, announcing Musa as the replacement for Mohammed Badaru, who resigned from the position on Monday due to health reasons.
In his letter to the Senate, the President expressed confidence in Musa’s capacity to lead the defence ministry and strengthen Nigeria’s security framework.
The nomination was confirmed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The statement added, “General Musa, 58, on December 25, is a distinguished soldier who served as Chief of Defence Staff from 2023 until October 2025. He won the Colin Powell Award for Soldiering in 2012.
“Born in Sokoto in 1967, General Musa received his primary and secondary education there before attending the College of Advanced Studies in Zaria. He graduated in 1986 and enrolled at the Nigerian Defence Academy the same year, earning a Bachelor of Science degree upon graduation in 1991.
“General Musa was commissioned into the Nigerian Army as a Second Lieutenant in 1991 and has since had a distinguished career.
“His appointments include General Staff Officer 1, Training/Operations at HQ 81 Division; Commanding Officer, 73 Battalion; Assistant Director, Operational Requirements, Department of Army Policy and Plans; and Infantry Representative/Member, Training Team, HQ Nigerian Army Armour Corps.
“In 2019, he served as Deputy Chief of Staff, Training/Operations, Headquarters Infantry Centre and Corps; Commander, Sector 3, Operation Lafiya Dole; and Commander, Sector 3 Multinational Joint Task Force in the Lake Chad Region.
“In 2021, General Musa was appointed Theatre Commander, Operation Hadin Kai. He later became Commander of the Nigerian Army Infantry Corps before being appointed Chief of Defence Staff by President Tinubu in 2023.”
Newsthumb had earlier reported that Badaru, who was appointed Minister of Defence on August 21, 2023, cited ill health in his resignation letter.
A statement by Onanuga added that Tinubu had accepted the resignation and thanked him for his service to the nation.
The statement further noted, “President Tinubu will likely inform the Senate of Badaru’s successor later this week.
“His resignation comes amid President Tinubu’s declaration of a national security emergency, with plans to elaborate on its scope in due course.”
Badaru recently came under criticism following a BBC Hausa interview in which he said some terrorists could not be targeted because their forest hideouts were too dense for bombs to reach.
Stephen Angbulu
With three years of experience, Stephen, The PUNCH correspondent, has been covering Nigeria’s presidency, politics, security, immigration and trafficking in persons
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Global Powers Back Nigeria’s War on Terror — Ribadu Confirms Support from US, UK, France
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The National Security Adviser, NSA, Mallam Nuhu Ribadu, yesterday disclosed that the international community was standing firmly with Nigeria in the fight against terrorism, with the United States, France and the United Kingdom already providing technical support to ongoing security operations.
Ribadu spoke in Kontagora, Niger State, during a visit to the Chairman of Christian Association of Nigeria, CAN, Northern Region, Bishop Bulus Yohanna, alongside distraught parents of pupils abducted from St. Mary’s Private Catholic School, Papiri.
He said President Bola Tinubu was deeply troubled by the incident and had directed security agencies to deploy all necessary resources to ensure the safe return of the abducted children.
Speaking to Christian leaders and parents who gathered at St. Michael’s Catholic Cathedral, Ribadu said: “This is a painful period for all of us but I want to assure you: we will rescue your children. The President is deeply concerned and has directed that everything necessary must be done.”
The NSA, accompanied by the Minister of Humanitarian Affairs and Poverty Alleviation, Bernard Doro; Director-General of the Department of State Services, Oluwatosin Ajayi; and CAN Northern Region Chairman, Joseph Hayab, said operations had been intensified to secure the children’s release.
He conveyed President Tinubu’s message of solidarity and resolve, noting that the President had suspended official engagements, including a scheduled trip, to focus on the matter.
Ribadu added that the Federal Government was taking full responsibility for restoring security in the affected communities.
He commended Bishop Yohanna for his leadership and calmness in a period of deep anxiety, assuring that Nigeria was not alone in the battle against terror.
“The whole world stands with us. This evil will not prevail. Your children will come back safely. That is our solemn promise,” he said.
Ribadu stressed that rescue operations would not slow down until the pupils were safely reunited with their families.
Earlier, Bishop Yohanna expressed gratitude to the Federal Government for the visit, saying it had renewed hope among families traumatised by the attack. He noted that the show of support demonstrated the government’s commitment to protecting citizens.
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