Economy Doing Well Under Buhari
Photo Credit: Vanguard Newspapers
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said yesterday the nation’s economy was doing well under President Muhammadu Buhari’s administration than previous governments.
She also explained the depletion of Excess Crude Account, ECA, saying it had not been funded for sometime.
Mrs. Ahmed stated this after the Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja, yesterday.
Asked the current status of the economy, she said: “Thank you for that question. First of all, let me address a question on the issue of the economy, as to whether the administration has done well. The administration has done very well.
“I need to remind us all here that in 2015, the administration came on and met a crisis in the oil and gas sector; we had the first slump in crude oil prices and a very significant slump in crude oil production.
“There was a time the volumes went as low as one million barrels per day. We were able to take measures to reflate the economy and exit recession within three quarters. By the fourth quarter, we were out of recession.
“Secondly, we had a second recession due to COVID-19. That was even a shorter recession and we have seen now up to five quarters of positive growth. So, the economy has been growing, despite very, very difficult circumstances.
“The other thing I need to remind us is that this administration has been able to realize the lowest oil and gas revenue, compared to all previous administrations, but it has also been able to do much more in terms of deployment of infrastructure. So, the administration has done well.”
On the Excess Crude Account, the minister recalled that the sum of $1 billion was withdrawn from it for the procurement of arms, in consultation with state governors.
“On the issue of the Excess Crude Account, in the past four years, because of volatility in the oil market, we have not had accrual to the account.
“So, what we have had, has been gradually used up for different purposes and it is always used in consultation with the National Economic Council, NEC, that is the governors, because this is a federation account.
“The last approval that was given by the council was the withdrawal of $1billion to enhance security. We have been utilizing that. The last tranch of that has been finally released because deployment to security agencies are based on the contracts executed and its been used strictly for that security purpose. So, the utilization of the account is with the full knowledge of the governors.”
On the council’s approval of the Medium Term Expenditure Franework,, MTEF, the Minister said: “The assumptions that we made for the next medium term framework from 2023 to 2025 is that crude oil price will be at $70 bpd for 2023, $66 pbd for 2024 and $62 bpd for 2025.
“Crude oil production is projected to be 1.69million bpd for 2023 and 1.813million bpd for both 2024 as well as 2025. We have also projected that the nominal GDP, that the size of Nigeria economy will rise to N225.5trillion, with 95% of this contribution by the non-oil sector, while the oil sector will be contributing only 5%. And some steady increase from 2024, 2025 to reach up to N280.70trillion in 2025.
“This means that Nigeria continues to retain its position as the largest economy in Africa.”
National Assembly Can’t Impeach Buhari–Presidency
Photo Credit: Daily Post Nigeria
The Presidency has boasted that the National Assembly cannot impeach President Muhammadu Buhari.
The Presidency boasted that the ruling political party, the All Progressives Congress, APC, has the majority of lawmakers in the Red Chamber, thereby making it impossible for the minority to have their way.
DAILY POST reported that Senators across party lines, on Wednesday, stormed out of plenary, calling for the impeachment of Buhari, as well as the Senate President, Dr. Ahmad Lawan over the increasing rate of insecurity in Nigeria.
But Femi Adesina, the Special Adviser to the President on Media and Publicity, played down the possibilities of his principal being impeached.
Speaking on Channels Television in reaction to the move, which is still very much in its early stage, Adesina said, “The National Assembly has a self-regulatory mechanism. It is so composed that minorities can’t have their way.
“They cannot force it down the throats of the majority and fortunately, in those Chambers, we have sensible people who will say ‘No, it’s true we have insecurity in the country and the President is doing his best, so let us continue to encourage the security agencies to do better.’
“Mr. President is not going to wave a magic wand to solve the security issues. No one has such a magic wand. It is something that would be done methodically.
“It’s something that will be done systematically… It’s not going to be by magic wand. There’s no magic wand to solve this kind of problem.”
Tinubu-Shettima: Christians’ll Make Their Choice In 2023 – Anglican Church On Muslim-Muslim Ticket
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The Church of Nigeria, Anglican Communion, on Wednesday, described the All Progressives Congress, APC, Muslim-Muslim ticket as an insult on the Christendom.
The Anglican Bishop of Kubwa Diocese, Rev. Dr. Duke Akamisoko, said Christians would make their choice in response to APC’s Muslim-Muslim decision.
Against the outcry of Nigerians, the APC’s presidential candidate, Bola Tinubu picked Kashim Shettima, a Northern Muslim as his running mate.
Reacting, Akamisoko described the Muslim-Muslim ticket as insensitive
He spoke to journalists during the 2022 Pre-Synod briefing which held in Abuja.
Akamisoko said: “Muslim-Muslim ticket at a time like this is a demonstration of insensitivity to the plurality of religion, the polarised nature of Nigeria, the plight of Christians in Nigeria and the feelings of Christians in Northern Nigeria.
“In fact, it is a direct insult on the entire Christendom. The APC has made a choice; it is left to Christians in Nigeria to also make their choice.
“There can never be a rational explanation for such a selfish, greedy and self-centered decision by the APC. It is irresponsible of the APC to take its political survival over the stability and peace of Nigeria.”
2023 Presidential Election’ll Make Or Mar Nigeria — CAN, Dogara, Abbo, Others Warn
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THE Christian Association of Nigeria, CAN, as well as notable Christians and political leaders have warned that February 25, 2022, presidential election would either make or mar the future of the country. “This is even as they rejected the same-faith presidential ticket of the All Progressives Congress, APC, describing it as reprehensible and ungodly.
They stated these at a symposium on the leadership crises in Nigeria, which was held in Abuja yesterday, as part of activities marking CAN’s 12th General Assembly and Leadership Transition Ceremony.
Apart from the CAN President, Rev. Samson Ayokunle, and the leaders of various Christian blocs and denominations, some political leaders who graced the event include; a former Speaker of the House of Representatives, Yakubu Dogara; the Senator who represents Adamawa North District in the National Assembly, Elisha Ishaku Abbo, among others.
While speaking on the theme of the symposium, ‘The Role of the Church In Times Like This’, they urged critical stakeholders, particularly Christian youths and women to ensure that a candidate who values justice, righteousness, inclusivity as well as respects the diversities inherent in the country emerges Nigeria’s next leader in order to avoid polarising the country.
In his speech, Senator Abbo said: “I am known for frankness. Sometimes, it sounds insulting to some people, because when I speak the truth in its raw form without adulteration, people say I am insulting them.
“Nevertheless, the 2023 election is a make or mar poll, especially for the Christians and for everyone who loves and values the unity of Nigeria.”
He lamented the worsening spate of insecurity in the country, saying the country may not survive the next eight years unless concerted efforts are made to pull it from the brinks.
According to him, the country is still held together only by the God’s grace through the continual prayers offered in the various worship centres.
“They (terrorists) have entered Abuja. We used to think that the Federal Capital Territory is safe. That’s why many politicians no longer visit their villages again, but the bandits have now entered into Abuja.
“Nigeria cannot survive another eight years like this. However, the decision is for you, the youths and women, to save this nation (through the ballot)
“There is power in the hands of the Nigerian Christian youths and women to change things, particularly in the affairs of the nation.”He urged CAN to fully activate its structures and networks ahead of the 2023 elections to ensure there is a positive change in the affairs of the nation, saying the apex Christian body already possessed the most mature and organised structures in this country.
Also speaking, Yakubu Dogara, stated that the country was experiencing shame, disgrace and reproach in many fronts because many of those saddled with the leadership of the country were not doing the right thing.
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