Author: John Akubo
Nigeria’s Public Debt Hits N121.67 Trillion, PwC Raises Concern Accounting and consultancy firm, PricewaterhouseCoopers International Limited (PWC), revealed that Nigeria’s public debt reached N121.67 trillion in Q1 2024, exceeding the Fiscal Responsibility Act limit. PWC warned that the increasing debt without matching revenue-generating investments could deter private investors. Former Anambra State governor, Peter Obi, advocated for sustainable economic growth amidst the rising debt crisis. He emphasized the need for productive use of borrowed funds to avoid exacerbating the debt situation. PwC recommended fiscal prudence by prioritizing capital projects with high returns and improving revenue collection efficiency. Despite the debt concerns,…
Senate President, Godswill Akpabio, has called on the people of Akwa Ibom State to support contractors working on the Akwa Ibom-Calabar axis of the Coastal Highway. He made this appeal during the Stakeholders’ Engagement on the alignment of Sections 3b and 4 of the Lagos-Calabar Coastal Highway in Uyo. Akpabio emphasized the need for peace, support, and cooperation from the state government and its people for the successful completion of the road project. He also commended Governor Umo Eno for initiating the federal project and highlighted the benefits it would bring to the indigenes. Minister of Works, Senator David Umahi,…
The Senate ad-hoc committee is actively investigating the N30 trillion Ways and Means facility expenditure by former President Muhammadu between 2015 and 2023. Despite rumors of a delay, Chairman Senator Isah Jibrin confirmed that the probe is progressing smoothly. The committee has exceeded its initial six-week deadline to ensure thoroughness in gathering vital information from the office of the Accountant General for the Federation. In a recent statement, Senator Jibrin emphasized the importance of factual findings over rushed reports, reaffirming the committee’s dedication to uncovering the truth behind the Ways and Means allocation. The ongoing investigation aims to shed light…
The Labour Party (LP) leadership responded to President Ahmed Bola Tinubu’s comments on the poverty caused by his administration’s policies in Nigeria. They expressed disappointment in his lack of empathy towards the suffering of the people, pointing out the contrast between lavish government spending and the dire conditions faced by citizens. The party called on Tinubu to prioritize the welfare of the population as mandated by the constitution, urging him to address the growing poverty, hunger, and disease in the country instead of focusing on luxury items like new jets for the Presidential fleet. They criticized the government for failing…