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Let’s Call On Obasanjo To Advise President Tinubu On How To Get Debt Relief For Nigeria – Afe Babalola
Legal icon and founder of Afe Babalola University, Ado-Ekiti (ABUAD), Afe Babalola, has stressed the need for President Bola Tinubu to seek debt relief for Nigeria from the country’s international creditors.
He emphasized the need to seek a reduction in the interest of the loan and the loan itself in order to save Nigeria’s economy from collapse.
Recalling how former President Olusegun Obasanjo got debt relief for Nigeria, Babalola said it is time to call Obasanjo to advise the Tinubu government on how to get it done.
Speaking on Sunday in Ado-Ekiti during the 6th Induction Ceremony of the 2023 graduating set of the College of Medical and Health Sciences of ABUAD, Babalola, if Nigeria does not seek debt relief, the country’s economy may be crippled with the way things are going.
The legal luminary also lamented that the loans accrued by the government have unfortunately been embezzled by some private individuals.
He emphasized that the sorry state of the economy and the frustration of the people are responsible for the protests across some major cities in the country.
He said, “Nigeria is one of the heaviest debtors in the world, I have written articles about it, let us investigate how we came to several trillions of dollars, what do we spend it on? I can assure you, these money are pocketed by those who said they collected it.
“Let us call on Obasanjo again to advise the present government. When we were in serious trouble in the 90s, after he took over, he went round all the creditors and begged them, one, to peg the interest, two, to even reduce the indebtedness and today, we are better for it.
“Unless we do that, this indebtedness will cripple this country and it will lead to anything. I have seen people especially, in the North who are agitating because of the fact that the naira is getting worse, food prices are high, no employment, and those who get it are not paid. Something has to be done about it.”
Speaking further, Babalola condemned the recent killings of two traditional rulers in Ekiti State and the hike in food prices.
He urged the government to intensify efforts at tackling insecurity so that farmers can access their farms without fear and enable all Nigerians to be producers of crops by investing in Agriculture.
Babalola also advocated an increase in the salary of teachers in the country to bolster their teaching delivery towards achieving and sustaining quality education in the country, as it has been in the 20th century.
His words, “Monarchs are killed, it is an unusual development, so, what is behind all these is the fact that we have no money, our money has no value, our currency is as worthless as toilet paper, something has to be done about naira and productivity.
“Farmers have left their farms now because of kidnappers, something has to be done about kidnapping and farmers have to be encouraged to go back to their farms.”
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PTDF shortlists 1,643 applicants for 2024/2025 in-country scholarships
The Petroleum Technology Development Fund (PTDF) has shortlisted 1,643 applicants for the In-country Scholarship Scheme for the 2024/2025 academic session.
The fund’s Head of In-country Scholarship Scheme (ISS), Mr. Surajo Abdullahi, announced this yesterday in Abuja during a physical interview of shortlisted candidates for MSc and Ph.D programmes under the scheme.
Abdullahi said 387 candidates had been screened at the Abuja centre while the exercise is holding simultaneously at designated centres across the six geopolitical zones in the country.
The scholarship, fully funded by the PTDF, is mainly for oil and gas courses, such as geology, chemical and mechanical engineering, geosciences, environmental, biochemistry, management and computing.
Abdullahi said the scheme was part of PTDF’s mandates to develop capacity and competencies in the oil and gas industry through its human and institutional capacity development.
“This is a part of human development where we give Nigerian candidates the opportunity to study in the area of oil and gas to close gaps in the industry.
“So, we normally sponsor them to study in the oil and gas-related courses so that we can fill up the gap. We have also widened our scope in different forms of energy and renewables,” he said.
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BDC operator sues EFCC for N1.2b over alleged illegal detention
A Bureau De Change (BDC) operator, Suleiman Babangida Sani, has sued the Economic and Financial Crimes Commission (EFCC) for alleged arrest, torture, and illegal detention without trial.
The applicant, through his lawyer, Edwin Anikwem (SAN), is praying for an order mandating the EFCC to pay him N200 million as general damages, and N1 billion as exemplary damages for flagrant violation of his fundamental rights.
The applicant is also asking the court for an order compelling the EFCC to tender an unreserved public apology for the infringement on his fundamental rights.
In a 33-paragraph affidavit sworn to by Olalekan Joseph Bayode, the deponent stated that the applicant had been at the EFCC detention centre at Okotie Eboh Street in Ikoyi, Lagos, since June 1 when he was arrested.
Anikwem averred that the applicant had been carrying on his business since 1993 as a BDC operator.
The deponent said the EFCC invited the applicant through a telephone call on June 1 to report to their office at 15A, Awolowo Road in Ikoyi, Lagos, adding that as a responsible and law-abiding citizen, he complied with the invitation.
According to the deponent, upon arrival, the applicant was asked about certain transactions concerning his BDC business, which he provided.
Anikwem averred that the officers informed him that the answers he provided were unsatisfactory and thus prevented him from leaving their office, thereby arresting and detaining him.
The lawyer said the applicant was not given any information about the nature of the offence he was arrested and detained for.
He added: “The applicant has not been charged with any criminal offence nor has he been informed of what his offence is since his arrest and detention on the 1st of June, 2024.
“Because of the poor sanitary condition of the cell, the applicant developed an extremely painful abscess on his fingertips while he was in detention.”
Anikwem averred that the applicant was not treated for the ailment despite complaining officially to be taken to the hospital, and as a result of the said untreated painful abscess on the fingertips, the applicant developed high blood pressure.
“When the applicant complained to officers of the EFCC about his health condition, he was ignored as there was no medical facility to cater for his deteriorating health.
“As a result of the applicant’s arrest and detention without trial, the applicant’s business has been closed for more than 150 days, leading to substantial financial loss in the business.
“The applicant is the sole breadwinner of his family which comprises a housewife, eight children, and an ailing aged mother of 105 years.
“As a result of the applicant’s arrest and detention, the applicant’s children have been out of school due to their inability to pay their school fees and other incidental expenses.
“As a result of the applicant’s arrest and continued detention, the applicant’s mother has resorted to praying for death as she does not want to be the one to bury her son.”
Anikwem averred that it would be in the interest of justice for the application to be urgently and expeditiously determined as the applicant has been languishing in detention.
The applicant is praying for a declaration that the continued detention of the applicant by the EFCC without charging him to court flagrantly violates his fundamental rights to life, respect for the dignity of his person, liberty and movement as guaranteed by Sections 33, 34, 35 and 41 of the 1999 Constitution and Article 6 of the African Charter on Human and People’s Rights (Ratification and Enforcement) Act, Cap A9 Laws of the Federation of Nigeria, 2004 and is therefore unconstitutional, unlawful, illegal, null and void.
He prayed for: “An order enforcing the Applicant’s fundamental rights by ordering his release from unlawful detention currently imposed on him by the Respondents.
“An order compelling the respondents to tender an unreserved public apology to the applicant for the infringement on his fundamental rights.
“An order mandating the respondents to pay to the applicant general damages of N200,000,000.00 (two hundred million Naira) only for harassment, torture, arrest and unlawful detention of the applicant’s person without trial.
“An order mandating the respondents to pay to the applicant the sum of N1,000,000,000.00 (One billion Naira) only as exemplary damages for the flagrant violation of his fundamental rights to wit: unlawful arrest and detention without trial.
“And such further order or orders as this honourable court may deem fit to make in the circumstances.”
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Hardship: There’s no option, Tinubu and I empathise with Nigerians – Shettima
Vice President Kassim Shettima, speaking at the Nigeria Economic Summit in Abuja, expressed deep empathy on behalf of himself and President Bola Tinubu for the hardships Nigerians are facing due to the government’s economic reforms.
Despite the challenges, Shettima stated that the reforms are crucial to achieving sustainable growth.
“Our hearts go out to Nigerians, especially the poor and young, enduring difficult times,” Shettima said. “But we have no option if we must return Nigeria to the path of sustainable economic growth.”
He emphasised that Nigeria’s economy has been volatile, over-reliant on oil, and unable to create enough jobs for the country’s rapidly growing population. To address this, Shettima outlined the government’s focus on diversifying the economy through sectors such as agriculture, manufacturing, and the digital economy.
He also highlighted the government’s efforts to support small and medium-sized businesses, improve infrastructure, and remove regulatory bottlenecks. Shettima noted that the administration has introduced single-digit interest loans for manufacturers and a new credit corporation to offer consumer loans to workers.
On security, the Vice President stressed the government’s commitment to combating terrorism and banditry, while also implementing fiscal reforms like subsidy removal and debt management to stabilize the economy.
Shettima urged collaboration between the public and private sectors to overcome Nigeria’s economic challenges, adding that the Nigeria Economic Summit serves as a platform to foster dialogue and drive actionable recommendations for growth and stability.
“The challenges are significant, but they are manageable,”
Shettima concluded. “With the right policies, partnerships, and cohesion, Nigeria can emerge stronger, more competitive, and resilient.”
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