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Nigeria’s Presidency predicts economic breakthrough in 2024

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The Nigerian Presidency has predicted that with the “bold and deliberate” reforms and policies undertaken by President Bola Tinubu since coming into office on May 29, citizens will witness economic prosperity and breakthrough in the year 2024.

Senior Special Assistant to the President on Media and Public Affairs, Temitope Ajayi, who made the prediction on Saturday, stated that President Tinubu was committed to fulfilling his “Renewed Hope Agenda” for Nigeria and Nigerians in the new year across major sectors of the economy.

The presidential aide, who spoke during a get-together party organized for him by his colleagues in Annunciation School Old Boys Association (ASOBA) in Ekiti State, South-West Nigeria, said though the present economic challenges confronting the citizens had brought untold hardships, there was hope for a turnaround as the president and his team were doing everything possible to change the narrative in the new year for the people to feel the impact of government.

Ajayi pleaded with the citizens to have faith and trust in the federal government under the leadership of President Tinubu, and expressed optimism that he (Tinubu) had the magic wand to “engineer the needed economic, social and infrastructural transformation for the country to be placed on the pedestal of growth and development.”

“Nigerians should look forward to a great year in 2024. The President is going to speak to Nigerians on January 1st in a national broadcast where he is to once again highlight some of the reforms he has taken and what he is doing to make sure Nigerians feel the impact of his government.

“Of course, things are a bit tight but the President is working round the clock to make sure that Nigerians feel a new sense of life starting next year; it is going to be a year of prosperity, a year of abundance, a year for economic breakthrough.

“The year 2024 will witness a lot of social engineering, where Nigerians will see high impact economic projects that will transform our lives, that will give us a good quality of life in roads and other critical infrastructures that this economy needs to take off and boom.

“Those are things the President is focusing on and he will remain focused on them in 2024 and throughout his tenure,” the SSA reiterated.

Metro

Nigeria: Civil society group sues 36 govs, Wike over N5.9tn, $4.6bn loans

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A civil society organisation in Nigeria, Socio-Economic Rights and Accountability Project (SERAP), has dragged the 36 state governors of the Federation and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to court over their failure to account for and publish agreements made in N5.9 trillion and $4.6 billion loans obtained by their states and the FCT respectively.

The lawsuit with the number FHC/ABJ/CS/592/2024, was filed on behalf of the group by its legal team comprising of Kolawole Oluwadare, Kehinde Oyewumi and Valentina Adegoke, at the Federal High Court, Abuja.

In a statement on Sunday confirming the suit, the CSO said it has “asked the court to direct and compel the 36 governors and Wike to account for the N5.9trn and $4.6bn loans obtained by their states and the FCT and to publish copies of the loan agreements, location of projects executed with the loans for the public to see.

According to SERAP, the suit is sequel to its earlier demand addressed to the 37 respondents in a statement issued by the organisation’s Deputy Director, Kolawole Oluwadare on March 31.

In the suit, SERAP prayed the court to “direct and compel the governors and Mr. Wike to invite the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission to investigate the spending of all the loans obtained to date by their states and the FCT.”

“It is in the public interest to grant the reliefs sought. Nigerians have the right to see and scrutinise the loan agreements and know the details of how the domestic and external loans obtained by the governors and FCT minister are spent,” it said.

“Opacity in the spending of the loans obtained by the governors and Mr. Wike would continue to have negative impacts on the fundamental interests of the citizens.”

SERAP further noted that many states in the country, including the FCT, had spent “public funds which may include the loans obtained by them to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians.”

“According to the Debt Management Office (DMO), the total public domestic debt portfolio for the country’s 36 states and the Federal Capital Territory is N5.9 trillion. The total public external debt portfolio is $4.6 billion,” the group said.

It also accused the respondents of “allegedly mismanaging public funds which may include domestic and external loans obtained from bilateral and multilateral institutions and agencies.”

“SERAP demands transparency in the spending of the loans as they are fundamental to increase accountability, prevent corruption, and build trust in democratic institutions with the ultimate aim of strengthening the rule of law.

“The governors and the FCT Minister cannot hide under the excuse that the Freedom of Information Act is not applicable to their states and the FCT.

“Legal obligations to publish the information sought are also imposed by the provisions of the Nigerian Constitution and the African Charter on Human and Peoples’ Rights.”

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Kenya: President Ruto hints at ‘dire’ weather outlook as Cyclone Hidaya nears

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President William Ruto has announced that the severe rains that have been plaguing Kenya for the past several weeks resulting in extensive floods and landslides that have claimed at least 210 lives are expected to intensify further this month.

Kenya, the largest economy in East Africa, has seen widespread destruction of roads, bridges, homes, and other infrastructure due to flooding. More people have died due to the floods than from the El Nino weather phenomena that occurred late last year.

“Sadly, we have not seen the last of this perilous period, as the situation is expected to escalate. Meteorological reports paint a dire picture,” Ruto said on Kenyan television. “Kenya may face its first-ever cyclone.”

According to the Igad Climate Prediction and Applications Centre, Cyclone Hidaya is predicted to make landfall in Tanzania, Kenya’s southern neighbour, on Saturday. It is forecast to bring with it winds of up to 100 mph and waves that are about eight meters (26 feet) high.

“This cyclone, named Hidaya, that could hit anytime now, is predicted to cause torrential rain, strong winds and powerful and dangerous waves,” Ruto said.

Ruto gave the order to evacuate landslide-prone areas earlier this week and relocate to safer terrain. The government has ordered the evacuation of residents in informal settlements adjacent to rivers and streams, as well as those living close to 178 dams and water reservoirs that are currently on the verge of spilling over.

He had announced that all schools would not reopen for the upcoming semester, which is scheduled to begin this week, until further notice. According to him, the Nairobi County government is coordinating closely with donors and humanitarian organizations to supply food and non-food resources to those affected by the flooding. The county has established 115 camps to house those who have been displaced.

Leaders of the opposition and human rights organizations have criticized Ruto’s government for how it handled the catastrophe.

Human Rights Watch alleged on Thursday that despite warnings from the Kenya Meteorological Department a year ago regarding the anticipated impact of flooding induced by El Nino, officials had not promptly implemented a national response plan.

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