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‘Buhari deserves credit for taking Nigeria out of recession twice’

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The administration of President Muhammadu Buhari deserves credit for taking Nigeria out of recession twice, rather than be blamed for the two economic declines in four years.

According to the Buhari Media Organisation, BMO, while reacting to UK based magazine, The Economist’s article on Nigeria, “taking a country out of economic recession twice is unprecedented anywhere in the world”.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO said that it was wrong for the magazine to suggest that the recessions had to do with policy failure.

“We find it strange that a magazine of that stature would form a conclusion on the two recessions in the life of the Buhari administration without bothering to put issues in proper perspectives.

“So we are constrained to clear the air on some of the misconceptions in the writeup that has since been reproduced in the local media and is currently trending on social media.

“For starters, we acknowledge that the 2016 recession happened at a time that the All Progressives Congress (APC)-led administration had barely spent one year in office, but there are facts, even in the public domain, showing that the country’s economy had been on a downward spiral since the second quarter of 2014 as a result of a global oil slump.

“It beggars belief that a magazine that prides itself as an authority in global economic issues was unaware of the three consecutive declines in Nigeria’s GDP in 2014 from a high of 6 per cent to 2.35 per cent by the time Buhari was sworn in on May 29 2015.

“So we make bold to say that contrary to the picture it sought to paint by describing the administration as bumbling in its handling of the economy, it actually did a good job by reversing the trend and taking the country out of recession in record time.

“A similar feat was also achieved when Nigeria, like the rest of the world, went into recession as a result of the COVID-19 pandemic in 2020, but recorded a swift turnaround that stunned the whole world.

“It is interesting to note that the non-oil sector was instrumental to the country’s quick exit from recession by consistently contributing over 90 per cent to aggregate GDP inspite of the magazine’s claim of little or no effort to diversify the economy.

“So we wonder why a magazine which even rated Nigeria quite high in its global normalcy index could pretend that the feat was negligible even after the latest figure showed a 5 per cent economic growth”.

BMO also argued that the magazine was wrong in its assessment of the impact of the government’s decision to shut its borders in 2019.

“When the Buhari administration opted to shut its land borders temporarily, it was a well-thought-out decision that was taken, amongst others, to boost local rice production; indeed Nigeria is today Africa’s top rice producer, but this obviously does not suit the agenda of ‘The Economist’.

“As for its claim of galloping food inflation which is put at 20 per cent this is certainly not true as a simple Google search would have shown those who wrote that editorial that it is less than that at 17 per cent after a monthly drop-in inflation rate since the first quarter of the year.

“What this means is that contrary to the impression the magazine tried to create, the Buhari administration has been steadily growing the economy at a time that countries with more structured economies are witnessing a slump.

“This is one of the reasons we were bold to say that Nigeria will surpass the 2.7 per cent growth projection by the International Monetary Fund (IMF) for 2022.

“And lest we forget, ‘The Economist’ was quite bullish with its claim that 40 per cent of Nigerians were living below the poverty line just before COVID-19 set in. We want to refer its editors to a 2010 report by the National Bureau of Statistics (NBS) which put the country’s poverty figure at the time at about 60.9 per cent of the population.
” The 2004 figure, by the way, was 54.7 per cent so it is safe to say more people have been cycled out of poverty in recent years”.

The group reaffirmed the Buhari administration’s commitment to weaning the country of its overreliance on oil by ensuring that the non-oil sector’s contribution to the GDP is consistently high.

NAN

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Rep felicitates Wike on emergence as THISDAY/Arise TV Minister of the Year

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Wike visits scene of collapsed building, insists structures without approval will go down

The Chairman House of Representatives Committee on Federal Capital Territory (FCT), Rep. Aliyu Betara (APC-Borno), has congratulated the FCT Minister, Mr Nyesom Wike, on his emergence as THISDAY/Arise TV Minister of the Year.

Betara, in a congratulatory message issued in Abuja, eulogised the leadership virtue and dedication of the minister to infrastructural development in the territory.

The lawmaker, representing Biu/Bayo/Shani/Kwaya Kusar Federal Constituency of Borno, said that the award was well-deserved.

“On behalf of the House of Representatives Committee on FCT, I wish to extend my warmest congratulations to the FCT Minister, Mr Nyesom Wike, on your well-deserved recognition as the Minister of the Year by THISDAY/Arise TV.

“This prestigious honour is a testament to your visionary leadership, tireless dedication and exceptional contributions to the infrastructural transformation in the territory.

“Your unwavering commitment to service and your determination to improve the lives of residents and visitors alike to the FCT has been nothing short of exemplary.

“Through your bold initiatives and strategic policies, you have not only enhanced the aesthetics and functionality of Abuja, but have also reaffirmed the FCT’s position as a beacon of progress and modernity in Nigeria,” he said.

Betara said that the recognition was a reflection of the positive impact of Wike’s work and the admiration he had earned across various sectors.

While describing the recognition as an outstanding achievement, the lawmaker prayed that the milestone would serve as an inspiration for greater accomplishments in service, with integrity and purpose.

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Court adjourns case against ex-Kogi governor, others

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A Federal Capital Territory High Court on Wednesday, adjourned hearing in the alleged money laundering case against  former governor of Kogi, Yahaya Bello until April 3 and April 24.

Justice Maryann Anenih adjourned the case for continuation of hearing after the first witness, Fabian Nworah, a property developer, was called to testify.

The Prosecution Counsel, Kemi Pinheiro, SAN, informed the court that he had five witnesses to call for the day.

Justice Anenih said she could only take one witness as she had other matters to attend to.

The court also announced that it would not be sitting on Thursday as previously scheduled.

Counsel for the 1st and 2nd Defendants, Joseph Daudu, SAN, however, informed the court that the prosecution had not made the statements on oath of the 2nd defendant available to the defence team.

He said he was aware that the first defendant had not made any statement.

Daudu also objected to the witness presented by the prosecution, arguing that the defendants had no prior knowledge of the witness and were only seeing him in court for the first time.

Citing authorities, he emphasised that legal proceedings should not be a “hide and seek” game, stating that the prosecution was required to provide the witness’ statements on oath in advance so the defence could adequately prepare for cross-examination.

“The statements of the second defendant have not been served on us to be able to know if we will be able to represent him or not.

“So, it is a serious handicap on us. They need to serve us all the statements made by the defendants.

“I understand the first defendant has not made a statement. Fortunately, we are still within the house keeping stage of the proceeding,” he added.

Corroborating this, counsel for the 3rd Defendant, Abubakar Aliyu, SAN, said, “mine is not a comment but an observation my lord. My application is for the court to order the prosecution to provide us with the statements of the 2nd and 3rd defendants.”

When the judge asked if he had requested for the statements, Aliyu SAN said, he discovered on Tuesday that the said statements were not part of the proof of evidence served on the defendants.

He said: “I am also applying that the court order the prosecution to provide us with copies of recovered digital device and the report or the extract therefrom mentioned on Page 14 of Volume 1 of the proof of evidence and the report of the forensic expert if any.

“I am following the procedure followed in Okoye against the Commissioner of Police, which was adopted by the Supreme Court in Okemini Vs Commissioner of Police.”

The prosecution witness, however, disagreed, saying the defendants were trying to delay speedy trial.

He insisted that the proof of evidence was served on the defendants on Nov. 27, 2024.

“The constitutional provisions, which they rely on, does not imply that the prosecution should provide all the documents which it relies on.

“The law only provides that the prosecution should oblige the defence with all the documents requested for,” Pinheiro argued.

He noted that the issues would be addressed whenever they receive formal applications from the Defendants and urged the court to proceed on the business for the day.

“As it is, we have almost utilised more than an hour on these arguments,” he stated.

The judge asked the defendant’s counsel why he did not raise the issues in December.

Daudu SAN replied that it was because it had to be done after arraignment.

“I have applied and they are not obliging me. It is absolutely necessary for our defence,” counsel for the 3rd defendant said.

The judge, however, declined the application for adjournment and directed the prosecution to proceed with the case.

The prosecution then proceeded to call its first witness, Fabian Nwora, a property developer with EFAB Property Nigeria Limited.

Nwora testified that he was invited to the Economic and Financial Crimes on Feb. 8, 2023, regarding a transaction between Shehu Bello and EFAB Property concerning a property located at No. 1 Ikogosi Street, Maitama.

He stated that he sold the said property to Shehu Bello but observed that the name on the sale agreement was Dr Bello Ohiani, not Shehu Bello.

He said, in 2023, Shehu Bello approached EFAB Property, informing them that the property was under investigation by the EFCC.

He returned all documents related to the purchase and demanded a refund of the N550million that was paid.

Subsequently, he said, EFAB Property was invited by the EFCC to explain what transpired between them and Shehu Bello.

The EFCC instructed the company to refund the entire sum to an EFCC-designated account. EFAB Property complied in two batches of N400 million and N150 million.

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Kebbi to upgrade Zuru hospital to referral centre

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The Kebbi Government says it is assessing the condition of the Zuru General Hospital with the aim of upgrading it to a referral centre.

Gov. Nasir Idris stated this when he visited the Emir of Zuru, Alhaji Muhammadu Sani-Sami on Wednesday in Zuru.

Idris visited the emir to thank the people of Fakai, Sakaba, Danko/Wasagu and Zuru Local Government Areas that make up the emirate.

Idris said that upgrading the Zuru General Hospital to a referral centre would ease the difficulties faced by people of the emirate.

The governor said that quality healthcare services remained an utmost priority of his administration.

He said that the Sir Yahaya Memorial Hospital, Birnin Kebbi and the State Medical Centre, Kalgo, currently serving as referral health institutions were overstretched.

“The government is committed to reversing the trend by making referral hospitals close, accessible and affordable to the people of the state,” he said.

On the expansion of the Zuru Water Works and construction of urban township roads, Idris promised to reappraise the facilities for necessary action.

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