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Nigerian Senate Approves $500 Million World Bank Loan Request By Tinubu
The Nigerian Senate has approved the $500 million World Bank loan request by President Bola Tinubu.
The loan is for the production of electricity meters for the citizens.
The Bureau of Public Enterprises (BPE) was granted the funds following a thorough review of the report by the Committee on local and foreign debts, which was presented by Senator Haruna Manu, who serves as the Vice Chairman of the Committee.
On November 1, 2023, President Bola Tinubu requested Senate approval for a $7.94 billion World Bank loan package, which included a $500 million loan.
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Let oracles decide Owa-Obokun stool, contestant tells Osun govt, kingmakers
Prince Kayode Adewale, a contestant for the vacant Owa-Obokun of Ijesa land throne, has urged the Osun state government and traditional kingmakers to rely on oracles and deities in selecting the next monarch of the ancient town.
Prince Adewale of the Owa Bilaro Oluodo Royal Family, made the call during a press conference in Ilesa, Osun State, on Thursday.
He noted that the Ifa oracle, along with the Obokun and Ogun deities, should be the determining factors in the selection process.
The stool became vacant following the passing of Oba Gabriel Aromolaran, who joined his ancestors on September 11, 2024, after a 42-year reign.
As the contest intensifies, an Osun State High Court, presided over by Justice Adeyinka Aderibigbe, has restrained Governor Ademola Adeleke and others from appointing a new Owa-Obokun from the Haastrup family or any other candidate.
Amid the ongoing legal battles, Prince Adewale reaffirmed his interest in the throne, advocating for adherence to traditional processes to ensure fairness and legitimacy.
He said: “The Owa Obokun stool is not for sale. In Ijesaland when it’s comes to selection of a new King the Ifa, Obokun and Ogun deities will be consulted and the person that has the highest vote from them will emerge as the king.”
Declaring his intention, Adewale said he is committed to standardizing mining practices and implementing robust land reclamation policies.
“Ijeshaland is blessed with abundant natural resources, particularly in gold mining. However, our gold resources must be harnessed responsibly and sustainably. Under my leadership, I will work towards the standardization of gold mining practices, ensuring that this wealth benefits the people of Ijeshaland while preserving our environment for future generations.”
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Reps approve extension of 2024 budget implementation to June next year
The House of Representatives on Thursday approved the extension of the implementation of the capital component of the 2024 budget from 31 December 2024 to 30 June 2025.
Leader of the House, Hon Julius Ihonvbere, laid the report of the report of the bill seeking the extension as the House dissolved into the Committee of Supply to consider it.
It is titled, “A Bill for an Act to Amend the Appropriation Act, 2024 to extend the implementation of the Capital Component of the Appropriation Act, 2024 from 31 December, 2024 to 30 June, 2025 and for Related Matters (HB.2023)”
Deputy Speaker, Benjamin Kalu, who announced the adjournment of plenary to January 14, 2025, urged members to work hard in their various to ensure that the prompt passage of the 2025 budget upon resumption.
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ALGON condemns suspension of Edo LG chairmen, councillors
The Association of Local Governments of Nigeria (ALGON) on Thursday condemned in strong terms the suspension of 18 local government chairmen and councillors in Edo state by the House of Assembly.
Governor Monday Okpebholo had accused the suspended chairmen of disobeying his instructions by allegedly refusing to submit their financial records to the state government.
However, the ALGON’s National Executive Council (NEC) and its Board of Trustees (BoT) on Thursday jointly condemned the decision saying the governor and lawmakers did not give the council chairmen fair hearing to defend themselves.
The association at an emergency meeting in Katsina state, appealed to President Bola Tinubu to intervene, emphasising the need to respect the autonomy and independence of local governments as guaranteed by the nation’s constitution and recent ruling by the Supreme Court.
“ALGON views this suspension as a setback for democracy and abuse of power, particularly since the chairmen were not given a chance to defend themselves.
“This suspension is invalid. It contradicts the Supreme Court’s judgment granting local governments autonomy,” the ALGON National Publicity Secretary, Hamisu Anani, in a statement said.
Anani stated that if the Edo State House of Assembly’s decision was right, it would not have generated criticisms across the length and breadth of the country.
“This suspension is unconstitutional; it is null and void.
“ALGON is hereby urging the Edo State House of Assembly to reverse the decision and respect the rule of law to strengthen democratic governance.
“ALGON also appeals to President Bola Tinubu to intervene and halt this abuse of power,” the statement said.
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