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We Have Not Taken Any Foreign Loan In 4 Years- Ambode

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Outgoing Lagos State governor, Akinwunmi Ambode, has revealed that his four-year administration took no foreign loans despite the pressure on the state’s Internally Generated Revenue (IGR) due to massive infrastructure projects the administration set out to accomplish to cater to the growing needs of the estimated over 21 million residents of the state.

According to Ambode, although the foreign component of the state’s debts hovers around $1.43 billion, his administration never added to it but was committed to servicing what it inherited from the previous administrations, which has been compounded by unstable exchange rates.

The governor spoke in an exclusive interview with BusinessDay, saying his background as a financial expert and years of experience at the top level of the state’s civil service as an Accountant-General came handy in managing the resources of Nigeria’s biggest state economy to achieve outstanding results.

Statistics from the Debt Management Office (DMO) show Lagos State’s total external debt stock as at 31 December, 2018 stood at $1.43 billion. The external debt comprised $1.28 billion from multilateral source and $143.83 million was bilateral, sourced from the African Development Bank.

In addition, the state’s total domestic debt stock was N530.24 billion as at the same period of 2018.

“Talking about Lagos State having the highest amount in terms of foreign loans, truth is that I have it on record that in my four years, I never took any foreign loan. So, whatever it is that they are saying about having $1.43 billion is an accumulation of loans that have been taken by successive governments,” Ambode told BusinessDay.

“Remember also, these facilities that we call loans were taken at an exchange rate that was lower than N150. But again, this government that has not taken any of these facilities would pay back and has been paying back in the last four years on the new exchange rate which is like N360 because government is a continuum.

“That has immense pressure on the internally generated revenue. And when you have this pressure on the IGR that you are using to service these facilities without complaining, it means that you have been financially prudent to be able to use the remaining resources to do what you have outside there in terms of infrastructure development,” said Ambode.

He further explained that beyond being financially prudent, his administration has given value for money by undertaking major projects that are further improving the economy of Lagos in particular and Nigeria in general, pointing to the construction of road networks, Oshodi Transport Interchange (OTI), Lagos airport road, resuscitation of Ayinke House (maternity hospital), Ikeja, jubilee bridges, laybys, redesigning of Ojodu Berger on Lagos-Ibadan Expressway, the light-up Lagos project, among others, as legacies his successor, Babajide Sanwo-Olu, will build upon.

“That is the way to explain what has been happening and the value that comes with the infrastructure that we are giving. It is like double the price of what we are putting inside when you match the issues about loans and resources. Remember also that the country was going into recession when we came in,” Ambode explained.

Courtesy: Business Day

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2027: Tinubu Wants to Contest Against Himself – Dele Momodu

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Former presidential candidate and chieftain of the African Democratic Congress (ADC), Dele Momodu, has accused Nigerian President Bola Tinubu of attempting to weaken opposition politics ahead of the 2027 general elections, reiterating his earlier warning that the country is finally drifting toward a one-party political system.

Momodu made the remarks during an appearance on Sunday Politics on Channels Television, where he delivered a sweeping critique of the current political landscape and the growing wave of defections to the ruling All Progressives Congress (APC).

According to him, democracy thrives on strong opposition parties and competitive elections, but recent political developments suggest the ruling party may be consolidating power in a way that limits meaningful political competition.

“There must be opposition politics. There must be opposition candidates, but Tinubu wants to contest against himself and it doesn’t make sense to me,” Momodu said during the interview.

He argued that the increasing movement of opposition politicians into the ruling party is creating a political environment where viable alternatives to the government are shrinking.

Momodu described the situation as troubling for Nigeria’s democracy, warning that if opposition parties continue to weaken, the country could gradually move toward a one-party system.

“A lot of people are worried that now we have virtually a one-party state. It’s a sad day for democracy in Nigeria,” he said.

The veteran journalist and publisher also suggested that many politicians aligning themselves with the government are motivated more by access to power and resources than genuine political conviction. Addressing the president directly during the interview, Momodu said some of those publicly expressing loyalty to Tinubu may ultimately betray him at the polls.

“A lot of people are deceiving you, Mr President. They are going to collect your money. They know you have a bottomless pit of money. They will collect it, but I doubt if they will vote for you,” he said.

Momodu noted that his criticism of the president was not personal, recalling that he and Tinubu were once allies during Nigeria’s pro-democracy struggle against military rule.

He said both men were active during the campaign to actualise the June 12, 1993 election won by the late businessman and politician Moshood Kashimawo Olawale Abiola.

“We were together in exile. He was very active in the struggle against dictatorship,” Momodu said, adding that his views about Tinubu’s leadership style developed over time.

Despite their shared political history, Momodu said he felt compelled to speak out about what he described as the increasing concentration of power in Nigeria’s political system.

Looking ahead to the next presidential election, Momodu said Tinubu could be defeated if opposition forces unite around a strong coalition candidate. He specifically mentioned former vice-president Atiku Abubakar as a potential contender capable of challenging the ruling party.

According to him, a joint ticket combining Atiku with Peter Obi or Rotimi Amaechi could significantly weaken the ruling party’s chances.

“If we have a combination of Atiku, maybe with Peter Obi, maybe with Rotimi Amaechi, Tinubu will be gone,” he said.

Momodu also insisted that Tinubu is not as politically invincible as many believe, arguing that unpopular incumbents can be defeated through strategic opposition alliances and voter mobilisation.

“It is not that Nigerians are afraid of Tinubu. Tinubu is afraid of Nigerians,” he said.

He further criticised the administration’s performance in several areas, particularly security and economic hardship, noting that many Nigerians are facing difficult living conditions.

“Insecurity is number one. Poverty has quadrupled. The fuel subsidy was removed and the government says more money is coming in, but Nigerians have not seen the effect of it,” he said.

Momodu added that the government should focus on addressing the country’s pressing challenges rather than concentrating on political calculations ahead of the next election.

“The president should focus on solving the problems of Nigerians now instead of thinking about 2027,” he said.

He maintained that Nigeria’s political history shows that governments that concentrate power eventually face resistance from the electorate and insisted that citizens must remain engaged in protecting the country’s democratic system.

“Any citizen who believes that Tinubu does not deserve a second term should come out boldly and oppose him,” Momodu said.

Source: thewhistler.ng

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UK Orders Airspace Restrictions, Road Closures for Tinubu’s State Visit

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Authorities in the United Kingdom (UK) have announced temporary airspace restrictions and road closures in Windsor ahead of President Bola Tinubu’s State visit to the country.

Britain’s monarch, King Charles III, will host Tinubu and First Lady Oluremi Tinubu at Windsor Castle on March 18 and 19, 2026.

State visits represent the highest level of diplomatic engagement hosted by the British monarch.

According to Thames Valley Police, extensive security measures will be implemented in Windsor during Tinubu’s state visit, including an expanded airspace exclusion zone and a large-scale policing operation.

The castle already operates under a permanent airspace restriction, but authorities said the exclusion zone will be extended on March 18 between 07:00 and 23:59 GMT.

Police warned that anyone who breaches the restriction will “likely” face arrest.

Security operations will involve search teams, armed units, mounted officers, and road policing officers. Neighbourhood officers and Project Servator teams will also conduct patrols across the town to deter and detect criminal activity while engaging with the public.

Officials added that Windsor’s extensive CCTV network and hostile vehicle mitigation barriers will also be used as part of security arrangements.

Ch Supt Adrian Hall of the joint operations unit said:

“As a force, we have a vast amount of experience in policing royal events in Windsor, and significant planning and preparation have gone into this event.

“We will ensure everyone attending the state visit, including dignitaries, spectators, and members of the public, are kept safe to enjoy the historic occasion.”

Authorities said several road closures and parking restrictions will begin on March 17 ahead of Tinubu’s State visit, warning that motorists may experience temporary disruption on roads in and around Windsor.

Some footways and pedestrian crossings in the town centre will also close periodically between 09:30 and 12:30 on March 17 and 18 for a ceremonial procession.

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False and Misleading: Senator Ireti Kingibe Not Suspended, Says ADC

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The African Democratic Congress, ADC, has dismissed reports that Senator Ireti Kingibe has been suspended from the party, describing the claims as false and misleading.

Kingibe currently represents the Federal Capital Territory in the Senate.

In a statement issued on Thursday, the party’s National Publicity Secretary, Bolaji Abdullahi, said the ADC is not aware of any decision to suspend the senator and urged the public to ignore the circulating reports.

Abdullahi emphasized that the party has well-defined constitutional procedures for handling allegations involving its members.

“The African Democratic Congress is unaware of any suspension of Senator Ireti Kingibe, the distinguished Senator representing the Federal Capital Territory,” he said.

He added that as a law-abiding political party, the ADC follows established internal mechanisms when dealing with issues concerning its members rather than addressing such matters through media statements.

“As a law-abiding political party, the ADC has clear constitutional procedures for addressing any allegations involving its members. Such matters are handled through established internal mechanisms, not through press statements,” Abdullahi stated.

The party therefore called on the public and media organizations to disregard the reports of Kingibe’s alleged suspension.

“We therefore urge the public and the media to disregard the reports suggesting that Senator Ireti Kingibe has been suspended by the party, as they are false and misleading,” the statement added.

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