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We are borrowing sensibly, responsibly, Buhari govt replies Atiku, other critics

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The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the borrowing level for Nigeria is still at 23 per cent of the Gross Domestic Product, GDP, adding that government borrowing is sensible and responsible.

The minister stated this while addressing newsmen on the recent rise in the country’s GDP in Abuja on Monday.

The National Bureau of Statistics, NBS, recently announced the GDP growth of 5.01 per cent for Q2 2021 for the country.

According to Mrs Ahmed, the government was borrowing to invest in critical infrastructure like: power, water, roads and rails required to enhance business productivity in the country.

“We are borrowing with very close consideration to the sustainability of the borrowing. The borrowing level for Nigeria today is still 23 percent of the GDP.

“I have said it several times that the problem we have in Nigeria is that of revenue and when you look at the country that are within the peer group with Nigeria, there are some that had 50 per cent growth that are now at about 70 per cent growth.

“We are at 53 despite the escalated borrowing we had to deal within 2020 also in 2021 to get a good grip on the economic situation that was occasioned by COVID-19 pandemic and in our case due to the crash in crude oil price.

“We are borrowing sensibly we are also borrowing to invest in critical infrastructure like power, water, roads and rails which are investments that are required to enhance business productivity in the country today.

“These businesses will grow, they will not only pay taxes and they will also employ people.

“If we don’t do this, we will regress even from where we are today. It is a necessary investment so we are borrowing responsibly.

“We are making sure what we are borrowing is applying to major infrastructure that will return revenue in the near future” she explained.

NAN

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Livelihood: Sokoto Govt. expands youths, women empowerment schemes

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LivelihoodsThe Sokoto State Government, says it will expand the youths and women empowerment as well as its poverty reduction programmes in the state to sustain achievements already recorded.

Alhaji Ibrahim Dadi-Adare, the state Commissioner for Local Governments and Community Development, disclosed this in an interview with the News Agency of Nigeria (NAN), on Wednesday in Sokoto.

Dadi-Adare explained that the measure was aimed at capturing more population especially in the rural areas.

He disclosed that the ministry had facilitated skills acquisition trainings and distributed working tools to about 2,000 persons last year, adding that in view of the successes recorded the ministry planned to expand the schemes.

He also said that beneficiaries had engaged in small scale businesses which impacted positivity on their lives and that of their families.

”We are upscaling the initiative in partnership with the 23 local government councils, ministries of sports and youths development, Women and Children Affairs and Sokoto State Small Scale and Medium Enterprises Development Agency (SOSMEDA) along with others,” he said.

The commissioner lauded the leadership of Gov. Ahmed Aliyu, for providing the dividends of democracy to the people of the state.

According to him, about roads spanning 30 kilo metres have been rehabilitated within the metropolis, while some in rural areas have also been done and work ongoing in others, by this administration.

”We have also renovated about 42 boreholes to restore adequate water supply to the state and its environs.

”Schools were also renovated and furnished by this administration to enhance teaching and learning in the state,” he said.

Dade-Adare further disclosed that the present administration was also able to procure fertiliser, food items including millet, rice and other grains and distribute freely to residents across the state to cushion the effects of the subsidy removal.

He also disclosed that the state government procured 18-seater buses, cars, tricycles and motorcycles to ease transportation in and outside the state.

He further disclosed that the government renovated health facilities and provided medications as well as procured Toyota Hilux vans for security operatives to enhance their operations in the state.

Dadi-Adare called on residents of the state to support the present administration and prayed for its increased success.

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Zulum seeks enhanced trade relations between Nigeria, Cameroon

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Gov. Babagana Zulum of Borno has called for enhanced trade relations between Nigeria and the Republic of Cameroon, to foster unity and economic growth.

Zulum made the call on Tuesday at a bilateral meeting between officials of the two countries in the border town of Banki.

The meeting was attended by members of the State and National Assembly from Borno State, and officials of the Cameroonian Far North region, led by Gov. Midjiyawa Bakari.

This followed the inauguration of the Banki International Cattle Market, a Memorial Secondary School, and a government lodge in the area.

Zulum highlighted the importance of facilitating trade between citizens of both nations, especially in livestock and agricultural commodities.

He assured his Cameroonian counterpart of his commitment to provide the political will needed to strengthen the economic ties.

“I want to assure you, Your Excellency, that under my leadership, I will provide the political will and commitment to drive the process,” he said.

Zulum lauded President Bola Tinubu for his commitment to promote trans-border trade, noting that steps would be taken to reduce bureaucratic barriers and ensure smooth trade flow.

According to him, Banki is set to become one of Nigeria’s free trade zones, with plans in advanced stage, adding that the Borno government would fulfill its obligations to support the initiative.

He also commended President Paul Biya for his country’s role in managing Nigerian refugees, and called for the establishment of a civil authority to facilitate the safe return of over 20,000 displaced persons to their communities.

Responding, Bakari commended the improved security situation in the area.

He underscored the importance of peace building and sustainable development, adding that Banki International Cattle Market could also boost Cameroonian economy.

“We will ensure that similar projects are replicated in our region,” Bakari said.

He proposed holding another bilateral meeting in Maiduguri or Marwa in Cameroon, to discuss strategies for strengthening regional cooperation to rebuild the economy disrupted by the Boko Haram insurgency.

The President of Borno State Chamber of Commerce, Alhaji Ahmed Ashemi, and the Senior Vice President of the Regional Council of the Far North, Prof. Jalou, emphasised the need for collaboration between the two nations.

They said that such relationships would maximise the benefits of the African Continental Free Trade Area (AfCFTA).

The News Agency of Nigeria (NAN) reports that the meeting was part of ongoing efforts to enhance cross-border trade and promote regional development.

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Wike’s projects beaming light of hope on rural communities – Etsu Kwali

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Mr Luka Nizassan, Etsu of Kwali, Kwali Area Council of the Federal Capital Territory (FCT), says FCT Minister Nyesom Wike’s rural road projects are beaming a light of hope on rural communities.

Nizassan stated this while reacting to the newly inaugurated 11-kilometre Yangoji – Sukuku – Ebbo Road in the area council executed by the Wike-led FCT Administration.

He told the News Agency of Nigeria (NAN) in Abuja on Wednesday, that the communities contribute 30 per cent of food production to the Kwali Area Council.

He described the road project as the most impactful project undertaken by the Wike-led FCT Administration to transform rural communities.

According to him, the construction of the road has renewed the hope and trust of his people in President Bola Tinubu-led federal government and the commitment to deliver good governance to the people.

“No one would have thought that these communities would receive such massive infrastructural intervention until Wike beamed the light of hope on us.

“This road will increase agricultural production by enhancing the movement of farm machines and reducing the cost of transporting agricultural inputs.

“The communities are now accessible for businesses and the evacuation of agricultural products to larger markets, thereby, increasing the economic value of agricultural products.

“This will have a direct bearing on food security and poverty reduction.”

The traditional ruler added that one of the immediate benefits of the road was the significant improvement of security in the area.

He explained that the communities were hitherto prone to kidnappings and other security challenges.

“The road has now provided security agencies the needed access to patrol and respond to distress calls promptly, thus, de-escalating the activities of criminal elements in the area,” he said.

NAN reports that the FCT Minister had on Monday begun the inauguration of completed road projects in rural communities across the six area councils of the territory, beginning with a five-kilometre road in Abaji Area Council.

Wike, said while inaugurating the 11-kilometre Yangoji–Sukuku–Ebo Road on Tuesday, that the gesture was part of Tinubu’s commitment to develop rural communities.

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