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Debt Profile, Corruption Claims: Osinbajo Under Fire
Former President Goodluck Jonathan and the Peoples Democratic Party on Tuesday criticised Vice-President Yemi Osinbajo over his claim that the former President left Nigeria with debt and ruined the economy due to alleged corruption under his watch.
The Vice-President had during a lecture entitled, “Restructuring and the Nigerian federation,” delivered as part of activities marking the 40th anniversary of the Association of Friends in Lagos on Monday, accused the Jonathan administration of throwing Nigeria into untold hardship, recession and debt.
In a statement by one of his aides, Reno Omokri, the former President wondered why Osinbajo, who he claimed was recently indicted by the House of Representatives for an alleged corruption, should point fingers of suspicion at him.
The statement read, “How can Vice-President Osinbajo, a man who had just been indicted by the House of Representatives in one of the biggest corruption scams ever in Nigeria’s history, have the gall to point fingers of suspicion at Dr. Jonathan, a man that is celebrated internationally for his efforts at achieving Nigeria’s best rating in Transparency International’s annual Corruption Perceptions Index when Nigeria improved eight paces from 144 to 136 in 2014?
“Having read through the sordid details of Prof. Osinbajo’s corruption as revealed in the indictment by Nigeria’s House of Representatives, it is easy to understand why Nigeria made her worst ever retrogression in Transparency International’s annual Corruption Perceptions under him this year, moving 11 paces backwards from 136 to 148.
“On the issue of debt, the fact remains that in the entire 16 years that the Peoples Democratic Party governed Nigeria, the total amount of money borrowed was N8.06trn. These are facts sourced directly from the Budget Office controlled by the Buhari administration.
“However, in only three years, the All Progressives Congress-led administration of President Muhammadu Buhari has borrowed a total of N10trn. With this fact in hand, where does Vice-President Osinbajo have the moral authority to point leprous fingers at former President Jonathan?
“The claim by Vice-President Osinbajo that former President Jonathan left $63bn in debt is also a false claim. The Jonathan administration inherited $42.23bn in debt in 2011 which were debts borrowed by the states and the Federal Government.
He claimed that the nation’s debt he increased under the present administration because the Federal Government lacked the discipline that Jonathan had.
He added, “On Tuesday, November 13, 2018, the Debt Management Office revealed that in just 2017 alone, the Buhari administration borrowed N2.4trn to fund their budget deficit. This is besides other loans that they took in 2017 alone. That money is more than the funds borrowed by the Jonathan administration in five years!
“To show to Nigerians the profligacy and ineptitude of the current administration, I draw their attention to the fact that between July and August 2018, the Buhari administration claimed it had shared $322m Abacha funds recovered by the Jonathan administration to the poor. Then a week after it made that announcement, the Buhari government borrowed $328m from China.
“The question is this, why would you share out $322m one week only to borrow the same amount the next week? Why not use the Abacha funds to fund government activities instead of adding to the already strained debt burden?
“These are questions that Vice-President Osinbajo should answer rather than making false allegations against former President Jonathan.”
Also in a statement by its National Publicity Secretary, Kola Ologbondiyan, the PDP urged Osinbajo to stop ridiculing his office by always “bandying figures, peddling rumours and trending on false claims” in the attempt to cover the rot and failures of the present administration.
Ologbondiyan told Osinbajo that instead of juggling figures and making false claims about the nation’s debt profile, the Vice-President should present to Nigerians the scorecard of the present administration.
He said, “It is already a settled fact that the nation’s debt profile escalated under the profligate, uncreative and incompetent Buhari administration, which crippled our once robust economy, pushed it into recession, turned our nation from a growing economy to a debtor country and world’s poverty capital.
“Despite being busted, Vice-President Osinbajo is labouring to deceive Nigerians by converting domestic borrowings in naira, under the APC, to US dollars, so that the very high exchange rate will make it look smaller in dollars.
“This is despite verified figures even from agencies of government showing an accumulation of 29.6 per cent debt under Buhari as against the 20.14 per cent under the Yar’Adua and Jonathan administration and the 0.44 per cent under the Obasanjo administration.
The Punch
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Current Hardship in Nigeria, a Result of Lack of Leadership, Says Atiku
Former Vice President Atiku Abubakar has attributed Nigeria’s worsening hardship to lack of effective leadership, emphasising the need for sacrifices by political leaders for the collective good.
The former presidential candidate of the Peoples Democratic Party (PDP), in his Christmas message to Nigerians, called on the nation to confront the root causes of its struggles while embracing unity and love during the festive season.
Atiku extended warm greetings to Christians celebrating the birth of Jesus Christ, urging Nigerians to reflect on the significance of the season.
“It is a blessing that we can once again celebrate the events leading to the birth of Christ, despite the adversity we face,” Atiku said.
He acknowledged the resilience of Nigerians in the face of unprecedented economic and social challenges but lamented the widespread suffering and preventable deaths resulting from poor governance.
“The failure of our leaders to make necessary sacrifices has deepened the hardship and widened the gap between the people and those in power,” he said.
Atiku criticized the lack of visionary leadership in the country, blaming it for the deteriorating quality of life for millions of Nigerians.
He highlighted how poor governance has exacerbated economic difficulties, leaving citizens to bear the brunt of inflation, unemployment, and insecurity.
“Our current struggles are not insurmountable,” Atiku noted, “but addressing them requires leadership that prioritizes the well-being of the people over political expediency.”
Despite his critique of the current administration, Atiku’s message carried a tone of hope and encouragement.
He called on Nigerians to remain united and to confront their shared challenges with love and compassion for one another.
“With love and unity, there is no obstacle too great to overcome. Let us, therefore, come together to share love and joy with all people of goodwill,” he urged.
Atiku also reminded Nigerians of the spirit of Christmas as a time for reflection, gratitude, and selflessness. He encouraged citizens to draw inspiration from the life of Jesus Christ, whose birth symbolizes hope and renewal.
As Nigerians continue to grapple with economic and social instability, Atiku expressed hope for a brighter future, urging all citizens to work together to create a nation that prioritizes the welfare of its people.
“We must not lose sight of our collective strength and potential. With the right leadership and shared determination, Nigeria can rise above its challenges,” he stated.
The PDP chieftain wished all Nigerians a blessed Christmas filled with peace, happiness, and renewed hope for the future.
Featured
Akwa Ibom Gov Disburses N750m Business Grant to 15,000 Youths
In a historic move to tackle unemployment and empower Akwa Ibom’s youth, Governor Umo Eno has disbursed ₦750 million in unemployment business grants to 15,000 youths across the state. This innovative programme provides ₦50,000 monthly grant to 5,000 beneficiaries, with plans to expand the initiative to a total of 60,000 youths drawn from all 31 Local Government Areas (LGAs) over the next 12 months.
Speaking during the official presentation of the grants at Banquet Hall of Government House, Uyo, Gov Eno described the initiative as a cornerstone of his administration’s commitment to youth empowerment and capacity building.
He urged beneficiaries to utilize the grants for productive ventures that will enhance their personal growth and contribute meaningfully to the state’s economy.
He reaffirmed his administration’s focus on creating opportunities that enable youths to thrive and unlock their full potential, adding that this programme is part of a broader charter to highlight and support the immense talent and resilience of Akwa Ibom youth.
Gov. Eno also announced plans for civil service recruitment through the State Youth Employment Portal.
He encouraged youths to register on the portal, which has been designed to simplify access to jobs and other employment-related initiatives, underscoring his administration’s commitment to transparency and inclusivity in public service recruitment.
Additionally, the governor highlighted several complementary programmes aimed at building youth capacity, including Ibom LED, the Dakkada Skills Acquisition Centre, and the Ibom Community Watch initiative. These initiatives provide vital training, mentorship, and job creation opportunities for young people, equipping them with the skills needed to succeed in today’s competitive economy.
Describing the selection process, SSA on ICT, Dr. Frank Ekpenyong said beneficiaries where chosen through an unbiased and thorough process.
Featured
Ahead Christmas, It’s Glo’s Feliz Navidad All the Way on TVCs
Celebratory seasons, such as Christmas and New Year, are times when corporate organisations churn out new television commercials (TVCs) to connect with their customers and share the fun, euphoria and uncommon conviviality of such seasons.
One such organization which has over the years used this strategy to great effect is Nigeria’s top telecommunications brand, Globacom.
The exciting commercials that the technology company keeps rolling out fan the delight and elation of the season of goodwill. The brand employs the occasion not only to promote brand awareness but to felicitate its customers and the nation at large.
It is a tradition Glo has established. Since it started operations in 2003, it has always used television commercials as veritable tools of ensuring brand presence, marketing products and services and spreading joy among its various targets.
The 2024 Yuletide adverts it rolled out recently are not different. The two unique yet powerful commercials serve dual purposes. They felicitate the Nigerian people and spread mirth, which the season typifies, around existing and prospective customers.
Expectedly, the two new commercials have dominated the airwaves, and kept viewers talking and relishing the joy that Christmas brings.
The first commercial features juju music maestro, King Sunday Adegeye, popularly called King Sunny Ade, who parades a full ensemble of dancers and a rich, talented band in the TVC tagged “Merry Christmas”. The percussions, rhythm and dance merge to foster affability and enchanting memories of the season of glad tidings.
Before the party celebration where King Sunny and his band entertain guests, the TVC takes viewers back to the 1970s and 1980s when Christmas was celebrated with so much fanfare. It paints a vivid picture of rural Nigeria during Christmas where the warmth of tradition and community fills the air. The village with lush green vegetation is buzzing with excitement, with children playing, women cooking delicious meals in open-air kitchens, the aroma of local dishes (you can literally perceive it) mixing with the sounds of Afro Juju music. Families and friends gather around, dancing joyfully to the rhythmic beats, their faces beaming with happiness as they celebrate the festive season. A woman bearing the Aso ebi for the party is shown coming down from a Peugeot 504 car which also reinforces the advert as being set in the 1980s.
The television commercial by the telecom company captures the essence of togetherness, blending the cultural richness of rural life with the spirit of Christmas, all while subtly underscoring the telecom brand’s role in connecting loved ones, no matter how far apart they may be. It ends with “Better don come. Merry Christmas, Nigeria” further underscoring the reason for the commercial.
The second commercial tagged “Feliz Navidad” uses a galaxy of known artistes including Nollywood star, Timini Egbuson, as well as Uche Nwaefuna (Uchemontana), Chigozie Stephanie Alichi (Chizzy Alichi), Tomi Ojo, Eronini Osinachim, Kiki Bakare and Tope Adenibuyan (Teddy A) to pass across the message of Christmas.
At the heart of the Christmas party, the energy is electric as tap dancers take center stage, their feet tapping out intricate rhythms that blend seamlessly with the upbeat melody of Feliz Navidad. The sound of their shoes striking the floor creates a lively pulse, complementing the lively tunes of the music band performers who bring the festive song to life with vibrant instruments and harmonious vocals. Laughter and cheer fill the air as all come together to toast the season, sharing in the joy of music, movement, and the warmth of the Christmas spirit. The scene is a vibrant celebration of culture, unity, and festive joy, all set to the timeless sounds of Feliz Navidad.
These commercials have further endeared the Glo brand to its subscribers and the general Nigerian public as they enjoy the geniality of the season of love, hope, gifts and celebrations.
Talking about the Yuletide commercials, Ademide Gafar, an industry watcher opined that churning out great TVCs is one of the selling points of the Glo brand while John Michael, a marketing communications expert, noted that Globacom is not just a leader in the telecommunications sector but a prominent creator of unforgettable commercials. From the nation’s pride in telecommunications, it’s Feliz Navidad-Merry Christmas!
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