News
Peter Obi Calls for Government Use of Borrowed Funds for Job Creation and Living Standards
Peter Obi, the 2023 Labour Party (LP) Presidential Candidate, has called on the Nigerian Government to utilize borrowed funds to create jobs and enhance the standard of living. Obi expressed concern over the government’s borrowing, which amounted to an alarming N121.86 billion in the first quarter. He emphasized that borrowing several trillion naira within just three months underscores the urgent need for careful and responsible financial management.
Posting on X, Obi wrote: “I have consistently maintained that borrowing is not inherently problematic, as long as it is utilized for productive purposes that drive economic growth and development.
“The recent report at the end of the first quarter indicates a significant increase in our government’s borrowing, reaching a staggering N121.86 trillion.
“This rapid accumulation of debt is alarming, and if this borrowing trend continues at the current rate, we can expect the total to surpass N150 trillion by the end of the year.
“If the borrowed funds are used for consumption or misallocated, we risk worsening our economic situation, perpetuating a cycle of debt and hindering our ability to achieve sustainable economic growth and development.
“On the other hand, if the funds are channeled into productive endeavors such as infrastructure development, education, healthcare, and entrepreneurship, we can expect positive outcomes that benefit our economy and citizens in the long run. As I recall, the law governing borrowing is explicit, requiring detailed explanations of the intended use, timing, and other relevant parameters.
“It is essential to ensure that borrowed funds are allocated efficiently and effectively to drive economic growth, create jobs, and improve the standard of living of the majority of our citizens. I respectfully request accountability for the massive borrowings, which have burdened our nation’s future. For the sake of our children and unborn generations, transparency and good governance, a detailed breakdown of how these funds have been utilized and demonstrate their tangible impact on our country’s growth and development should be provided. In conclusion, I urge policymakers and stakeholders to exercise caution and prudence in managing our national debt, ensuring that borrowing is utilized for productive purposes that benefit our economy and citizens.
“By doing so, we can promote sustainable economic growth, development, and prosperity for all Nigerians for generations to come. Our future stability and prosperity depend on prudent management of resources. -P0”
News
Trump Challenges Biden to Unrestricted Debate Ahead of 2024 Presidential Race
Donald Trump, the presumptive Republican nominee for the 2024 presidential election, has raised the stakes by challenging President Joe Biden to an unrestricted debate.
In a detailed message on his Truth Social platform, Trump proposed a “no holds barred” debate to discuss critical issues facing the country.
Trump criticized Biden’s policies on immigration, transgender athletes, electric vehicles, and inflation, arguing that the debate would showcase their competence.
This challenge follows concerns over Biden’s performance in their previous debate, which raised questions about his mental health.
News
Ryan Garcia Expelled from WBC for Racist and Disparaging Comments
American boxer Ryan Garcia has been expelled by the World Boxing Council (WBC) after making racist and anti-Muslim remarks on social media.
WBC President Mauricio Sulaiman announced the expulsion, condemning discrimination.
Garcia issued an apology, attributing his comments to trolling. Promoter Oscar De La Hoya condemned Garcia’s words and emphasized the need for genuine change.
Garcia’s recent win over Devin Haney was also overturned due to a failed drug test, resulting in a one-year suspension and fines from the New York State Athletic Commission.
News
Police Heightens Alert Levels in Response to an Upcoming Cultism Day Celebration.
The Ekiti State Police Command has issued a ban on unlawful gatherings following reports of a planned celebration by a specific cult group.
According to a statement by Commissioner of Police Akinwale Adeniran, the command emphasized a zero-tolerance policy towards criminal activities within the state.
“It has come to the notice of the Command that a group of criminally-minded individuals, particularly cultists who are members of a particular confraternity, have concluded plans to celebrate cultism on July 7, a day popularly known as 7/7. Information at our disposal indicates that on that day, new members will be inducted, covenants will be renewed, and supremacy battles will occur, usually characterized by violence and bloodshed.
The Command however warns members of secret cults and other criminal organisations in the state to end such illegal and unhealthy celebrations or any actions that could cause unnecessary apprehension or affect the peaceful atmosphere currently being enjoyed in the state.
“The CP has directed all the Area Commanders, Heads of Intelligence and Tactical Units, and the DPOs to be on alert, deploy adequate operatives across their jurisdictions, especially in all identified black spots, and ensure the arrest and prosecution of anyone who undermines this directive as the peace and security of the state can never be traded for any frivolous personal gain.
“Furthermore, the command bans any form of gathering or celebration in all hotels, bars, event or recreation centres, and similar venues across the state on the 7th of July, 2024, except those authorized by the state government or the police authority.”
Parents and guardians are urged to caution their children to obey the law and avoid actions that could lead to disorderly gatherings or assemblies before, during, and after the specified date. The Command, working closely with other security agencies, is prepared to take firm action against any misconduct.
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