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Break Up Not Solution To Nigeria’s Problem — Balarabe Musa

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Balarabe Musa

A former Governor of Kaduna State in the Second Republic, Balarabe Musa, has warned that break up of Nigeria will not bring solutions to the numerous issues bedevilling the country.

He said instead, the regions will also suffer from the same thing they have tried to run away from.

According to the Kaduna-born politician, the solution to this is to change the social, political and economic systems that have thwarted all good developments in the country.

The elder statesman told The Sun that all the political leadership foisted by the system should be changed.

According to him, “[Break up of the country] is another issue for us to ponder over.

“If we break-up, the other units will also suffer from the same thing they have tried to run away from. It is the same thing. It is like running from your shadows.

“The solution to this is change the social, political and economic systems that have thwarted all good developments in the country.

“Also the political leadership foisted by the system should be changed. Both the political leadership and the system are based on self-interest first, public-interest second.

“That is how Nigeria is running on. You cannot do anything about this because this system has produced a leadership that is not concerned with the welfare of the people.

“It is concerned only with perpetuation of power and deepening of the problems it created. It is a system that serves its interest only.

“Everybody is after money only, so as to get money – power. The pursuit and ugly use of money have arrested the brains of people and development.

“The only way out is to change the system and the political leadership it produced.

“The reality in Nigeria today is that we will not abandon this decadent system and pursue socialist system that will bring about social development.

“That is the reality. We need to be aware of this that it is only a change from the capitalist system to a socialist system that will make a change of direction in the nation’s affairs.

“The more we tend to run away from it, the more we stay at the crossroads. We should allow it to play a leading role in the economy to ensure justice, social order, dignity of the human person, and development all over the country.

“That is the answer. It is the only thing. That is the solution which is near, but which we have refused to grab. That is the only answer.

“America, Britain, Germany, China, Russia, they did it and became the most powerful people and countries in the world. We can also do it.

“They placed humanity above other considerations in their march to freedom. They are now the most advanced nations in the world today. They placed public-interest first.

“Enlightened self-interest has no place in the development and advancement of nations. We are going through what other people had gone through and emerged stronger because of the system they put in place.

“For instance, for how long have we been fighting those we elected to power? For how long have we been fighting to bring about free and compulsory primary and secondary education in Nigeria?

“And if it is possible also, have a free post-secondary education in Nigeria, because when you have an educated citizenry, it will be easy to put in place a system that will ensure progress and development in all ramifications.

“All we are interested in is money-power. Nothing has been achieved; no progress at all. Since the leadership in Nigeria, starting from 1966, or even 1960, it has always been a march backwards instead of a march forward, and when you make one step forward and three steps backward, you can’t progress.

“That is the truth many people don’t want to hear. Where is justice in Nigeria? I can’t find it.”

Inside Nigeria

Nigeria’s Public Debt Is Officially ₦29.83 Trillion

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Buhari

The total public debt stocks of the Federal Government of Nigeria, all states within the Nigerian federation, and the FCT is now ₦28.63 trillion as of Q1 2020.

This is was made known by the National Bureau of Statistics (NBS) in a report they released on Friday, July 10, 2020.

Further analysis of Nigeria’s total public debt showed that N9.99 trillion which equals about 34.89% of the debt was external.

A breakdown of the report revealed that the total debt stock of the states as of 31 March 2020 is N4.1 trillion. Meanwhile, these states’ total Internally Generated Revenue (IGR) for 2019 was N1.3 trillion. They also received N2.47 trillion from FAAC.

As usual, Lagos State recorded the highest IGR at N398.7 billion. The state also received N117.8 billion in FAAC disbursements and has a total debt stock of N444.2 billion, thereby making up 10.8% of the total debt stock of the states.

Yobe State recorded the lowest debt stock out of all the states with just N29.2 billion. This made up just 0.7% of the total debt stock of the states. Meanwhile, the state generated a total IGR of N8.4 billion in 2019.

Part of the report by the NBS said:
“Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn. Further disaggregation of Nigeria’s total public debt showed that N9.99trn or 34.89% of the debt was external while N18.64trn or 65.11% of the debt was domestic.

“Similarly, States and FCT domestic debt was put at N4.11trillion with Lagos state accounting for 10.8% of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.7%.”

However, the FCT had total debt of N106.8 billion, making up 2.6% of the total debt stock of the states. The FCT also recorded an IGR of N74.5 billion in 2019 and received N71.9 billion in FAAC.

The Federal Government’s total domestic debt stock by Q1, 2020 was N14.5 trillion, with FGN bonds making up 72.5% of the total portfolio followed by treasury bills at 18.24%.

The total public debt stock has risen by 4% since December 2019 while the previous figure stood at N27.4 trillion.

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Inside Nigeria

BREAKING: Buhari Signs N10.8trn Revised 2020 Budget

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Muhammadu Buhari

President Muhmmadu Buhari, on Friday, signed the revised 2020 Budget of N10.8 trillion, passed by the National Assembly in June, into law.

While signing the bill into law, the President explained the revision became necessary because of the weakening effect of the COVID-19 pandemic on the nation’s economy.

He also said ministries, department and agencies will be given 50 percent of their capital allocation by the end of the month.

The signing ceremony, which took place inside the State House, was witnessed by the Vice-President Yemi Osinbajo (SAN), Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, and the Chief of Staff to the President, Professor Ibrahim Gambari.

Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers also witnessed the signing.

The Ministers Finance, Budget and National Planning, Zainab Ahmed; Minister of State Finance, Clement Agba, Governor of Central Bank of Nigeria, Godwin Emiefile and Director General Budget, Ben Akabueze.

At 11:03am, Senator Babajide Omoworare, Senior Special Assistant (SSA) to President on National Assembly Matters (Senate) and Hon. Umar El-Yakub, on National Assembly Matters (House of Representatives) presented the budget to the President, while the Osinbajo, Lawan, and Gbajamilia joined him to witness the signing the budget at exactly 11:06

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Inside Nigeria

Nigeria Records 499 New COVID-19 Cases, Total Now 30,748

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Nigeria has recorded 499 new cases of coronavirus, bringing the total number of infections in the country to 30,748.

The Nigeria Centre for Disease Control (NCDC) made this known via its Twitter handle on Thursday.

“499 new cases of #COVID19; Lagos-157 Edo-59 Ondo-56 Oyo-31 Akwa Ibom-22 Borno-21 Plateau-19 Kaduna-18 Katsina-18 Bayelsa-17 FCT-17 Delta-14 Kano-11 Rivers-10 Enugu-8 Ogun-6 Kwara-4 Imo-3 Nasarawa-2 Osun-2 Abia-1 Ekiti-1 Niger-1 Yobe-1.”

499 new cases of #COVID19;

Lagos-157

Edo-59

Ondo-56

Oyo-31

Akwa Ibom-22

Borno-21

Plateau-19

Kaduna-18

Katsina-18

Bayelsa-17

FCT-17

Delta-14

Kano-11

Rivers-10

Enugu-8

Ogun-6

Kwara-4

Imo-3

Nasarawa-2

Osun-2

Abia-1

Ekiti-1

Niger-1

Yobe-1

30748 confirmed

12546 discharged

689 deaths

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