PDP Governors Raise Alarm About Buhari’s Loans, Issue Strong Warnings

Peoples Democratic Party Governors’ Forum says the Country’s
current debt of over N36 trillion is becoming clearly
unsustainable.

The governors warned that the All Progressives Congress (APC)
administration will plunge the country into avoidable bankruptcy if
rising debt profile is not checked.

The forum of PDP Governors made the assertion at the end of
their meeting, held at the Government House, Uyo, Akwa-Ibom State
on Monday.

In a fourteen-point communiqué read by Governor Aminu Tambuwal
of Sokoto State, who chaired the meeting, the PDP Governors frowned
at the rising and seemingly uncontrollable debt profile of Nigeria
with over 80% of normal Appropriation spent on debt servicing.

“All the gains of the PDP Government under Chief Olusegun
Obasanjo, GCFR, where Nigeria exited its foreign debt obligations
has been destroyed. Borrowing for frivolous items such as funding
the Nigerian Television Authority is scandalous. Money should only
be borrowed for productive purposes as Nigeria’s current debt of
over N36 Trillion Naira is becoming clearly unsustainable relative
to our earnings and GDP.”

The meeting also frowned at the opaque manner the Nigeria
National Petroleum Corporation (NNPC) carries out its operations,
particularly its recent decision not to make statutory
contributions to the Federation Account, thereby starving the
States and Local Governments and indeed Nigerians of funds needed
for employment, development and general wellbeing.

“Under the Constitution, the NNPC is duty-bound to make proceeds
of sale or business of Petroleum available to the Federation
Account which belongs to the three tiers of government, excluding
reasonable and verified and verifiable cost of operations. The
Federal government through NNPC is a manager of our oil wealth
merely as A TRUSTEE for all Nigerians.”

The PDP governors decried a situation where the NNPC decides in
a totally discretionary and often whimsical manner, how much to
spend, how to spend it and how much to remit to the Federation
Account, contrary to the letters and even the spirit of the 1999
Constitution.

In attendance were Governors: Udom Emmanuel (Akwa Ibom), Nyesom
Ezenwo Wike (Rivers) Douye Diri (Bayelsa), Samuel Ortom (Benue
State), Ifeanyi Okowa (Delta), Ifeanyi Ugwuanyi (Enugu).

Others were Governors Oluseyi Makinde (Oyo), Ahmadu Umaru
Fintiri (Adamawa), Godwin Obaseki (Edo), Bala Mohammed (Bauchi),
Darius Ishaku (Taraba), Okezie Ikpeazu (Abia) and Deputy Governor
Mahdi Mohd (Zamfara).

The PDP governors demanded that States should have a say in
determination of the operating cost of other agencies of Government
such as Nigerian Ports Authority (NPA), Nigerian Maritime
Administration and Safety Agency (NIMASA), Nigerian Communication
Commission (NCC), Federal Inland Revenue Services, Customs and
Excise and similar organisations that are statutorily required to
make contributions into the Federation Account, to ensure
transparency and accountability.

The meeting expressed deep concern that the Central Bank of
Nigeria (CBN) is operating as an independent government within a
Government, which is a pervasion of the autonomy of the Bank.

“A situation where CBN creates money, decides how much of it to
spend, on what to spend it on without any form of controls or
supervision is patently subversive of our constitutional order. It
has become not just a LEVIATHAN, but also a father Christmas of
sorts, dabbling into every sphere and scope of governmental
activity, not just as a lender of last resort, but as a full
executing agency of government.

The meeting observed that the CBN has become such an octopus
that it threatens State governments publicly, without decorum,
about sanctions on any attempt to question its MODUS OPERANDI. The
CBN should take immediate steps to halt the depreciation of the
Naira.”

The Forum called for the resignation of the chairman and members
of Revenue Mobilisation, Allocation and Fiscal Commission for
failure to send the revised Revenue Allocation Formula that will
make more resources available to States and Local Governments where
ordinary Nigerians reside, to President Muhammad Buhari for onward
transmission to the National Assembly for enactment.

The PDP governors, who also examined the suspension of TWITTER
in Nigeria, condemned the personalised reasons given for the action
by the presidency and demanded a review of the action in national
interest.

“The mere ego of Mr President is not enough for such a drastic
action that deprives millions of Nigerians from such an affordable
means of expression and communication. We hope that this is not a
harbinger or early warning signs of descent into dictatorship.

“The meeting noted that social media regulation can only be done
within the existing laws on the subject and should not be used as
an attempt to punish or gag Nigerians from enjoying
constitutionally guaranteed rights. Nigerian youths do not have
adequate access to employment and a lot of Nigerians rely on
TWITTER for their livelihood, businesses and self-employment.

“This will further worsen Nigeria’s 33% unemployment rate which
is the highest in the world, improve Nigerians ranking as the
country with second highest poverty rate in the entire world, all
of which happened under APC’s unfortunate stewardship.”

The PDP Governors observed the emerging threats to the country’s
democracy, constitutionalism and rule of law and cautioned the
Federal Government to exercise power with restraint.

“The need for law and order is paramount to secure our nation
but mindless killings of innocent civilians should be avoided and
is hereby condemned. It is in the same vein that the meeting
reiterated its earlier revulsion at any attack on security
personnel and their property anywhere in the country as a criminal
and egregious act for which perpetrators should be brought to
book.”

The PDP governors noted with regret that President Buhari seem
not to be aware that the coercive instruments of State security is
firmly within his hands and not the Governors, considering his
recent media interview on the subject.

“The meeting reminded Mr. President that he has ultimate
authority under the Constitution over security organisations, even
though the States have a role to play. Cooperation and synergy
between States and the Federal Government in security operations is
critical in securing Nigeria. In any case, even though, Police is
on the Exclusive List, the States, as a practical matter spend huge
sums of money to support the security agencies to carry out their
duties. The need for an appropriate legal framework to involve the
States in policing has become even more urgent by the day.”

The governors further reiterated the call for the National
Assembly to expedite action in passing the Electoral Act and
Constitution amendments to ensure restructuring and
decentralisation of governmental powers and functions.

They extolled the virtues and achievements of Governor Udom
Emmanuel for his prudence, and competence in the management of
state resources.

Peoples Democratic Party Governors’ Forum says the Country’s
current debt of over N36 trillion is becoming clearly
unsustainable.

The governors warned that the All Progressives Congress (APC)
administration will plunge the country into avoidable bankruptcy if
rising debt profile is not checked.

The forum of PDP Governors made the assertion at the end of
their meeting, held at the Government House, Uyo, Akwa-Ibom State
on Monday.

In a fourteen-point communiqué read by Governor Aminu Tambuwal
of Sokoto State, who chaired the meeting, the PDP Governors frowned
at the rising and seemingly uncontrollable debt profile of Nigeria
with over 80% of normal Appropriation spent on debt servicing.

“All the gains of the PDP Government under Chief Olusegun
Obasanjo, GCFR, where Nigeria exited its foreign debt obligations
has been destroyed. Borrowing for frivolous items such as funding
the Nigerian Television Authority is scandalous. Money should only
be borrowed for productive purposes as Nigeria’s current debt of
over N36 Trillion Naira is becoming clearly unsustainable relative
to our earnings and GDP.”

The meeting also frowned at the opaque manner the Nigeria
National Petroleum Corporation (NNPC) carries out its operations,
particularly its recent decision not to make statutory
contributions to the Federation Account, thereby starving the
States and Local Governments and indeed Nigerians of funds needed
for employment, development and general wellbeing.

“Under the Constitution, the NNPC is duty-bound to make proceeds
of sale or business of Petroleum available to the Federation
Account which belongs to the three tiers of government, excluding
reasonable and verified and verifiable cost of operations. The
Federal government through NNPC is a manager of our oil wealth
merely as A TRUSTEE for all Nigerians.”

The PDP governors decried a situation where the NNPC decides in
a totally discretionary and often whimsical manner, how much to
spend, how to spend it and how much to remit to the Federation
Account, contrary to the letters and even the spirit of the 1999
Constitution.

In attendance were Governors: Udom Emmanuel (Akwa Ibom), Nyesom
Ezenwo Wike (Rivers) Douye Diri (Bayelsa), Samuel Ortom (Benue
State), Ifeanyi Okowa (Delta), Ifeanyi Ugwuanyi (Enugu).

Others were Governors Oluseyi Makinde (Oyo), Ahmadu Umaru
Fintiri (Adamawa), Godwin Obaseki (Edo), Bala Mohammed (Bauchi),
Darius Ishaku (Taraba), Okezie Ikpeazu (Abia) and Deputy Governor
Mahdi Mohd (Zamfara).

The PDP governors demanded that States should have a say in
determination of the operating cost of other agencies of Government
such as Nigerian Ports Authority (NPA), Nigerian Maritime
Administration and Safety Agency (NIMASA), Nigerian Communication
Commission (NCC), Federal Inland Revenue Services, Customs and
Excise and similar organisations that are statutorily required to
make contributions into the Federation Account, to ensure
transparency and accountability.

The meeting expressed deep concern that the Central Bank of
Nigeria (CBN) is operating as an independent government within a
Government, which is a pervasion of the autonomy of the Bank.

“A situation where CBN creates money, decides how much of it to
spend, on what to spend it on without any form of controls or
supervision is patently subversive of our constitutional order. It
has become not just a LEVIATHAN, but also a father Christmas of
sorts, dabbling into every sphere and scope of governmental
activity, not just as a lender of last resort, but as a full
executing agency of government.

The meeting observed that the CBN has become such an octopus
that it threatens State governments publicly, without decorum,
about sanctions on any attempt to question its MODUS OPERANDI. The
CBN should take immediate steps to halt the depreciation of the
Naira.”

The Forum called for the resignation of the chairman and members
of Revenue Mobilisation, Allocation and Fiscal Commission for
failure to send the revised Revenue Allocation Formula that will
make more resources available to States and Local Governments where
ordinary Nigerians reside, to President Muhammad Buhari for onward
transmission to the National Assembly for enactment.

The PDP governors, who also examined the suspension of TWITTER
in Nigeria, condemned the personalised reasons given for the action
by the presidency and demanded a review of the action in national
interest.

“The mere ego of Mr President is not enough for such a drastic
action that deprives millions of Nigerians from such an affordable
means of expression and communication. We hope that this is not a
harbinger or early warning signs of descent into dictatorship.

“The meeting noted that social media regulation can only be done
within the existing laws on the subject and should not be used as
an attempt to punish or gag Nigerians from enjoying
constitutionally guaranteed rights. Nigerian youths do not have
adequate access to employment and a lot of Nigerians rely on
TWITTER for their livelihood, businesses and self-employment.

“This will further worsen Nigeria’s 33% unemployment rate which
is the highest in the world, improve Nigerians ranking as the
country with second highest poverty rate in the entire world, all
of which happened under APC’s unfortunate stewardship.”

The PDP Governors observed the emerging threats to the country’s
democracy, constitutionalism and rule of law and cautioned the
Federal Government to exercise power with restraint.

“The need for law and order is paramount to secure our nation
but mindless killings of innocent civilians should be avoided and
is hereby condemned. It is in the same vein that the meeting
reiterated its earlier revulsion at any attack on security
personnel and their property anywhere in the country as a criminal
and egregious act for which perpetrators should be brought to
book.”

The PDP governors noted with regret that President Buhari seem
not to be aware that the coercive instruments of State security is
firmly within his hands and not the Governors, considering his
recent media interview on the subject.

“The meeting reminded Mr. President that he has ultimate
authority under the Constitution over security organisations, even
though the States have a role to play. Cooperation and synergy
between States and the Federal Government in security operations is
critical in securing Nigeria. In any case, even though, Police is
on the Exclusive List, the States, as a practical matter spend huge
sums of money to support the security agencies to carry out their
duties. The need for an appropriate legal framework to involve the
States in policing has become even more urgent by the day.”

The governors further reiterated the call for the National
Assembly to expedite action in passing the Electoral Act and
Constitution amendments to ensure restructuring and
decentralisation of governmental powers and functions.

They extolled the virtues and achievements of Governor Udom
Emmanuel for his prudence, and competence in the management of
state resources.