The Federal Government has reacted to the uproar and castigation that greeted the Memorandum of Understand, MoU, it signed with Messrs MPH Rail Development Limited, a United Kingdom, UK, firm.

The MoU which was signed by the Ministry of Transport on March 13, 2024, was for the building of the Port Harcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line.

The announcement of the MoU, has sparked widespread controversy and condemnation by Nigerians on social media, especially X.

They expressed concern over the decision of the government to sign such MoU with a company without palpable rail construction history.

Responding to the controversy, Minister of Transportation, Sa’idu Ahmed Alkali, disclosed that the project was still at its preliminary stage.

In a statement issued on Sunday by Olujimi Oyetomi, Director, Press and Public Relations of the Ministry, the minister noted that the documents that were signed are not legally binding.

Parts of the statement read, “For clarity, a Memorandum of Understanding or MoU is a non-binding agreement that states each party’s intentions to take actions, conduct a business transaction or form a new relationship.

“It is not a legal binding agreement.

“It provides only a platform for further agreement, discussion, scrutiny and the provisions of required guarantees by the parties to reach agreement if the parties are satisfied.

“The MoU in question arose from an unsolicited proposal presented by the British African Business Alliance, BABA, an association based in the United Kingdom with interest in businesses in Africa. It’s proposal was initially submitted to the ministry on 27th August 2019.

“As required, the business, Outline Business Case was submitted to the Infrastructure Concession and Regulatory Commission, ICRC, on 8th December 2023. The major attraction of the proposal is BABA/MPH’s initiative to achieve 100% private sector funding for the project with no loans or debt to the Nigerian government or any of its agencies as captured in the Article 3.3 of the MoU.

“The regulatory Commission on 27 December 2023 granted approval and issued a conditional OBC Certification. It is pertinent to note at this juncture that COVID-19 was a major contributor to the time lag between the initial proposal and the ICRC OBC Certification

The Senate has warned the executive against increasing the budget size through a supplementary budget, advising the government to use the excess savings that are expected to be made from the recent depreciation of the naira to fund deficit.

This came against the backdrop of the depreciation of the local currency against the United States dollar from N900/$r to over 1,500/$, following a series of moves by the Central Bank of Nigeria to unify the parallel and official market exchange rates of the naira.

The National Assembly had in December moved the 2024 budget benchmark exchange rate from N750/dollar sent by President Bola Tinubu to N800/dollar.

Giving reasons at that time, the Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola, explained, “The current price of the dollar at the black market is between N1200 and N1300 and in the Central Bank of Nigeria, it is between N950 and N1000 and we have a budget which was pegged at N750, if you look at the gap, you’d realise that has covered a lot of gaps already.”

“Again, we did some external consultations, most especially in the area of oil benchmark and petroleum resources, if we had gone in that line, we’d have pegged it at N850/N900 to a dollar and we agree that we want to be conservative in our approach, so that nobody will think that we want to increase the budget for any ulterior motive, that was why we left it at N490bn out of which N44bn is for statutory transfer, so effectively, the increment is about N446bn that is going into the Federal Government pocket as consolidated revenue.”

“So, you can see that what necessitated our action is the economic reality and what is obtainable in both the black and open markets.”

However, following the depreciation of the naira from N900/dollar to over N1,500/dollar, the Senate has advised the Federal Government against increasing the budget size, saying the move could worsen the country’s already high inflation rate.

Rather, the Senate said the executive should use the excess savings to cut down on loans it would seek to fund the deficit in the budget.

The Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Tokunbo Abiru, in an exclusive interview with The PUNCH, advised the Federal government to avoid increasing the budget size.

He also advised that gains from the budget should be spent on reducing the budget deficit.

He said, “My position will be to advise that the Federal Government not to expand the size of the budget, rather use whatever gains that come to moderate inflation excess; and even the appetite for contracting loans for deficit should be moderated.”

He also explained that it was too early to determine the workability of the budget despite the volatility of the naira.

He explained, “What you use in budgeting is average rate not spot rate. What you are seeing today in the forex market is still looking like a spot rate.

“And you can see all attempts, all efforts from the end of Central Bank of Nigeria and the federal government is to find a way to stabilize. I can’t tell what the stabilized number would be.”

Abiru added, “So it will be too hasty to begin to judge from the current spot performance, not until when we have something close to our average or stable position. That’s when you should not be thinking about any revision of the budget.”

Also speaking in the same vein, the Deputy Chairman of the Senate Committee on Appropriation, Senator Ali Ndume, said the country would be saving over N600 on every dollar in the 2024 budget.

According to him, Nigeria earns over 60 per cent of its revenue in dollars and, as such, the fall of the naira against the dollar has created huge savings for the country.

Explaining he said, “We should be talking about budget excess not deficit. We spend naira, our budget is in Naira and we are spending in naira.

“The crude oil is our major source of income and it is being sold in dollars. So, if we are to analyze things, then we are making more money than losing money. The Federal Government pegged it first at N750 but at the National Assembly we jerked it up to N800.”

Ndume added, “So, we are selling our crude at about N1400 instead of N800, so we are making about N600 budget excesses. So, we have more money to spend.

“The budget is a dolarised budget so to say, such that our income is in dollars and expenditure is in naira. We are spending naira and earning dollars.”

On the increment in the prices of foodstuff, the lawmaker said that the hike in the prices was caused by Nigerians who were taking advantage of the volatility of the foreign exchange.

Ndume added, “The problem we have is in foreign exchange, but most of our foods are produced locally. So, the increment is on people who decide to take advantage of the foreign exchange.

“For instance, we don’t import corn, beans and other foodstuff, so why are the prices of foodstuff going up?”

Economists react

A professor of Economics at Babcock University, Ilisan, Ogun State, Segun Ajibola, said the rise in dollar would affect both the budget revenue and expenditure.

“You know budget is both sides – revenue and expenditure. The first thing we should realise is that if government earns dollar, the government will monetise that dollar at the exchange rate, then expenses will be incurred at that same exchange rate, so it will affect both the revenue and the expenditure,” Ajibola said.

He noted that foreign exchange accounts for about 60 per cent of total government revenue, stating, however, that there might still be a shortfall because this year’s budget is a deficit budgeting.

“So, the onus is on the government to drive supply. If the government can drive the supply of foreign exchange earnings, not just from the monolithic earning that we have, where we earn most substantially from crude oil; If we can drive non-oil foreign exchange earnings, then it will help. However, the important thing is to stabilise the economy.

“The Federal Government should see what could be done quickly, what we call quick wins. How can we redirect our exposure in the foreign exchange market? If our local refineries work, we can cut off importation of fuel. There are some items we need not spend foreign exchange on, like toothpicks,” the don said.

He, however, observed that there might be the need to review the budget later in the year.

Speaking, the Managing Director/Chief Economist of Analysts’ Data Services and Resources, Dr Afolabi Olowookere, said that the gap between the projected benchmark of the dollar in the 2024 budget and the current rate of the dollar had multiple effects on the government and the economy.

“Devaluation will help their budget in terms of revenue because money coming from abroad will now be changed at the rate of N1,400/dollar or N1,500/dollar.

“It is also possible that the FG may also lose. There are two ways that they can lose. The first way is, if they need to import or travel, they have to look for N1,400, N1,500 to pay and most contractors, I know would have gone back to the government to say that they cannot execute their contracts at the previous rate.

“So, on one hand, the government will be making more money from the conversion, and on the other hand, the government will be paying more for everything it has to import,” he stressed.

Touching on the third impact, Olowookere said that the exchange rate was already affecting the local economy,

“Look at cement, which is largely produced here, has gone up. So, effectively, the government will benefit but not as much as it would have benefited,” he reiterated.

Similarly, the Managing Director at Afrinvest Securities, Ayodeji Ebo, told one of our correspondents that the devaluation of the naira was positive for the government, doubling revenue when converted to naira.

“However, in terms of capital expenditure or spending, it will affect the Nigerian government because the cost of those projects would have doubled. So, in that case, the government would have to channel more funds to achieve the targeted projects. For example, if they have budgeted N3tn for capital expenditure, it now means you would spend close to N6tn or more.

“Given the current situation, we need to focus on reducing oil theft. When we export oil, we earn in dollars. When you convert it to naira, it becomes a significant amount of money,” Ebo noted.

In the same vein, an economist, Dr Elias Aliyu, maintained that the government pegging the exchange rate at N750 to $1, and later adjusting it to N800 by the National Assembly, appeared to be an overly ambitious move.

Meanwhile, a professor of Economics at the University of Uyo, Akpan Ekpo, said the devaluation of the naira had rendered the government’s exchange rate peg in the 2024 budget infeasible.

According to him, the government would either have to readjust its spending or float a supplementary budget to cushion the damage the current exchange rate has done to its budget.

“The oil we are exporting now, we already got the money a long time ago through the future market. Knowing the government, they would have to borrow to implement the budget.

“The budget already had a deficit. We will now have a higher deficit. They will now have to go for a supplementary budget or adjust expenditure through what we call expenditure switching. But knowing the government. They will want to borrow,” he said.

Speaking further, Ekpo urged the government to consider reviewing some of its policies to attenuate the severe impact the economic reforms have had on the populace.

A video has surfaced online showing the moment the governor of Sokoto State, Ahmad Aliyu, broke his Ramadan fast with an Almajiri boy.

In the video, the governor could be seen using the same spoon to eat with the boy and also drinking from the same sachet water.

Muslims all over the country are currently observing their annual Ramadan fast which they break by 6pm everyday.

Watch The Video Below;

The Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Nigerian Universities and Allied Institutions will commence a nationwide strike today (Monday), to protest their withheld four months’ salary.

The National President of SSANU, Muhammed Ibrahim, informed The PUNCH on Sunday that the two unions were set for their nationwide strike.

But the Minister for Education, Prof. Tahir Mamman, said he was unaware of SSANU/NASU’s planned strike.

In a text message sent to one of our correspondents on Sunday, the minister said, “I am not aware of any planned strike. But I know the matter is receiving attention at the highest level of govt. I will get across to them.”

The Federal Government, implementing the no-work, no-pay policy, had withheld the salaries of university workers following a prolonged strike in 2021.

However, the Federal Government in February released four-month withheld salaries to members of the Academic Staff Union of Universities but left out SSANU and NASU.

The two unions, in several letters, demanded that their withheld salaries be equally released and gave the Federal Government an ultimatum with a threat to embark on a nationwide strike.

Speaking to The PUNCH on Sunday, the SSANU leader, Ibrahim, said, “The Joint Action Committee of NASU and SSANU has inundated the Federal Government with the need to pay the withheld four-month salaries of our members in the federal universities and inter-university centres as done for our academic counterpart to no avail.

“As a matter of fact, the attention of Rt. Hon. Femi Gbajabiamila, Chief of Staff to the President, and Prof. Tahir Mamman, SAN, the Honourable Minister of Education, was called to this injustice and unfair treatment of our members in our letter referenced JAC/NS/VOL.I/277 and dated 13th February 2024. We called on them to resolve the issue positively before it leads to an unnecessary upheaval in our university sector.

“In a similar vein, a press release was issued on 1st March 2024 and the Federal Government was given a seven-day ultimatum to do the needful in respect of the payment of the withheld four months’ salaries but nothing was done on the matter.

“Having waited patiently for the ultimatum to expire without any positive response from the government, this is to direct our members in the universities and inter-university centres throughout the country to commence a seven-day warning strike effective Monday, 18th March 2024 in the first instance.”

Also, SSANU National Vice-President, Abdussobur Salaam, said the government had not made any offer to the union since it started the agitation for payment of its withheld salaries.

“We have not heard anything from the government; they are not saying anything about payment of the salaries, no promises, no negotiation. We are not saying they should pay everything at once, at least they should show commitment, talk to us, and tell us when we should expect the payment, but nothing from them, they have been silent even after our warning strike press statement, still, nothing.”

Two notorious traffic robbers, identified as Olumide Oladiji and Lekan Ibrahim, have been arrested in the Agungi Lekki area of Lagos State.

The incident occurred on March 15 at about 7.30pm.

A police source told our correspondent that the suspected robbers posed as beggars on the expressway to steal from motorists plying the road.

The source added that the culprits forcibly retrieved the victim’s phone and gold necklace, adding that the victim alerted the patrol personnel of the Ilasan division stationed at the Jakande roundabout, leading to their arrest.

He said, “A motorist while in the traffic at Agungi Lekki Laguna said that two men who disguised themselves as beggars approached him, and they forcefully collected his phone and his gold necklace. He quickly alerted the patrolmen of the Ilasan Division stationed at the Jakande roundabout, and they swung into action speedily. One Olumide Oladiji and one Lekan Ibrahim were arrested and taken to the station.”

When contacted, the state Police Public Relations Officer, Benjamin Hundeyin, confirmed the incident to PUNCH Metro, noting that the culprits will be arraigned and that the stolen goods have been recovered.

Hundeyin said, “The stolen items were recovered from them. The two suspects will be arraigned accordingly.”

In January, PUNCH Metro reported that some notorious traffic robbers were arrested in the Orile-Iganmu area of Lagos State. The arrest was made after a tip-off by members of the public.

The hoodlums, numbering about eight, were said to have emerged from under the bridge in a commando style, brandishing dangerous weapons such as machetes, broken bottles, sticks, and jack knives to dispossess innocent members of the public of their valuables inside the traffic in the area.

The Borno Youth Forum has called on President Bola Ahmed Tinubu to release the former head of the IGP Intelligent Response Team (IGP-IRT), DCP Abba Kyari, on account of his exploits against Boko Haram terrorists and kidnappers in the country.

In an open letter obtained by The Whistler, signed by Ahmed Yusuf, Chairman of the Forum, the group said Kyari’s antecedents speak for him, especially now that the country is experiencing kidnapping and other insecurity situations.

They called on “President Bola Ahmed Tinubu to come to our aid and release DCP Abba Kyari unconditionally. The association is pleading that the government should recognise the outstanding and unprecedented achievements recorded by DCP Abba Kyari when he was the commander of IGP-IRT.

“In Borno State, he and his team ended all the Boko Haram terrorist suicide bombings in the state by arresting all the Boko Haram terrorist Commanders involved in over 130 suicide bombings.”

The Borno Youths said Abba Kyari is the only officer who arrested Boko Haram terrorist members involved in the Chibok Schoolgirls’ kidnapping of 2014.

They said he also arrested the terrorist group that conducted the last bombings in Nyanya and Kuje in 2015, which resulted in many deaths.

The group said: “He also discovered and destroyed two of their bomb-making factories in Niger State, and since that operation, no bombing has been recorded in Abuja.

“We can’t forget his arrest of a very deadly and notorious criminal kingpins across the country like Evans, Godogodo, Vampire, Ade Lawyer, Umar Abdulmalik, Halti, Zakari Yau, Ability, Dabo, Dogo Russia, and others.

“The government also needs to recognize how he suffered and risked his life in maintaining peace, security, and the protection of lives and properties of the citizens of this country.

“DCP Abba Kyari received hundreds of awards within and outside Nigeria due to his tireless and outstanding efforts on promoting security through intelligence-led policing, use of human intelligence, use of technologies and technical intelligence, and cogent strategies in maintaining peace in every nooks and cronies of the country.

“For his service to the nation, he received unprecedented triple IGP Medals for Courage, 2012, 2013, and 2014; commendation award from American FBI 2019, for arresting the killers of a serving American soldier in Imo State, and he led the arrest of the kidnappers of four white Americans in Kaduna State.

“Kyari also arrested the kidnappers of American citizen, George Nathan in Sokoto, and earned the presidential Medal for Courage from President Mohammadu Buhari in April 2016.

“Due to his exploits, which you were well aware of, sir, he was awarded Outstanding Service to the Nation from the National Assembly in June 2020 amongst many other unprecedented awards.

“DCP Abba Kyari’s contributions towards Nigeria are uncountable, which ultimately erase whatever kind of allegations levels against him.

“The weight of his contributions and achievement to this nation is a thousand times more than the false allegations against him which is even a malicious set up and personal vendetta, and a calculated attempt to tarnish his image and integrity in the eyes of peace loving Nigerians.

“In this regard, the initiators of these allegations failed to prove their case beyond reasonable doubt. In totality, DCP Abba Kyari has no case to answer, but rather, the initiators of these allegations were dragging the matter due to lack of substantive evidence to produce in court.”

Nearly a year and a half after his inauguration, Osun State Governor, Ademola Adeleke has finally moved into the state’s government house in Osogbo, the state capital.

Naija News recalls that Governor Adeleke, who was sworn in on November 27, 2022, diverged from the norm established by his predecessors by choosing not to move into the state’s government house immediately.

His decision had drawn criticism, especially from the opposition All Progressives Congress (APC), but it was defended with the explanation that the Government House was undergoing renovations.

However, on Sunday, a statement from the Governor’s spokesperson, Olawale Rasheed, announced the completion of the renovation works, paving the way for Adeleke’s move into the government house.

The renovation encompassed extensive work on the main house, completion of a previously abandoned multi-bedroom guest house, remodelling of several structures, and repairs to numerous facilities that had fallen into disrepair.

During the unveiling ceremony of the refurbished Government House, attended by top state officials, Governor Adeleke affirmed his administration’s commitment to upgrading state assets, regardless of their origin.

“I have upgraded the Government House just as I rehabilitated the Governor’s Office. We ensured the Government House was rescued from the open neglect we inherited,” Adeleke stated, emphasizing the importance of maintaining state assets for future generations.

The Governor also highlighted that his administration is not only focusing on completing inherited projects but is also initiating new ones, aiming to fulfil the five-point agenda promised to the citizens of Osun State.

However, reacting to the development, Osun APC Chairman Tajudeen Lawal criticized the project as a misplaced priority, especially in light of the economic challenges faced by the state’s residents due to the removal of the federal fuel subsidy.

Lawal accused Governor Adeleke of focusing on less impactful projects while his counterparts in other states were seeking ways to alleviate the economic burden on their citizens.

Human rights lawyer, Femi Falana, SAN, has called on the Federal Government to put an end to the reprisal attacks by soldiers of the Nigerian Army in the Okuama community of Ughelli South Local Government Area in Delta State.

Falana made this call in a statement made available to newsmen on Sunday.

Recall that some irate youths of the community reportedly ambushed soldiers who were drafted to the community to stop a communal clash in the area.

Fifteen bodies of the soldiers were recovered by soldiers of the Joint Task Force under the supervision of the General Officer Commanding 6 Division, Nigerian Army, Major General Jamal Abdussalam, at the Okuama community.

Some youths from Okoloba were said to have ambushed and killed three Okuama youths – Igho Meshack, Godspower Awusa and Okiemute Agbabuleke, over an age-long land dispute in the area as they were returning from Okwagbe.

In a reprisal attack, some Okuama youths on Wednesday reportedly ambushed one Mr. Anthony Aboh, an indigene of Okoloba, and held him hostage.

But, operatives of the JTF swiftly swung into action and moved to Okuama to rescue the hostages.

Reacting to the development, the Senior Advocate of Nigeria urged the military to halt the killings of residents while calling for a full probe of the incident.

The senior advocate had, in a statement earlier released on Saturday night, condemned the brutal killing of the soldiers. He had also called for the immediate prosecution of the suspects who were arrested for their involvement in the crime.

Falana said, “Unfortunately, some villages were attacked last night by angry soldiers. After the attack, the villages were set on fire during the nocturnal military invasion.

“Having regard to the destruction of Odi and Zaki Biam over the killing of soldiers, the authorities ought to have taken adequate measures to prevent the attack and burning of the affected villages. It is unfortunate that the Federal Government has not issued any statement on the barbaric incident.

“In view of the tragic turn of events, I call on the military authorities to halt the destruction of the properties of innocent people in the warring communities. It ought to be pointed out that collective punishment is a serious offence under domestic and international law.”

Falana further stated, “Therefore, the Delta State Government should ensure that the murder suspects and arsonists among the civilians and soldiers are fished out and prosecuted to serve as a deterrent to other criminal elements in the society.

“Once again, I commiserate with the bereaved families of the slain officers and soldiers. Since they were brutally killed in the course of duty, the Federal Government and the Delta State Government should compensate the dependants of the deceased military officers and soldiers. Compensation should also be extended to the victims of reprisal attacks by angry soldiers.”

Meanwhile, on 14th March 2024, the troops of the 181 Amphibious Batallion, Bomadi Local Government Area of Delta State, while on peace mission to Okuoma community in Delta State were surrounded by some irate community youths.

In the unprovoked attack that ensued, the Commanding Officer, 2 Majors, a Captain, and 12 Solders were reported to have been brutalised and murdered in a gruesome manner.

Reacting to the incident, Falana stated, “We join the members of the civilised humanity in condemning the brutality meted out to the military officers and soldiers as they were deployed for peace keeping mission to resolve the crisis in two warring communities in Bomadi Local Government Area of Delta state.

“We are , however, pleased to note that the military remains focused and committed to its mandate of maintaining peace and security in the country.

“Having regard to the massacre of innocent people when the military invaded Odi in Bayelsa State and Zaki Biam in Benue State in similar circumstances, we commend the military authorities for resisting the temptation to subject the two warring communities to a reprisal attack. By all means, the army should avoid a repeat of the history of having multiple tragedies.

“We have confirmed that in line with the directive of the Chief of Defence Staff, Gen Gwabim Musa, some of the gunmen involved in the heinous crime have been arrested. The Delta State Government, the respective local governments, and the leaders of two warring communities should assist the police to identify and isolate the remaining reckless murderers and unravel the motive behind the heinous crime.

“While we commiserate with the Nigerian Army and the bereaved families of the slain military officers and soldiers, we call on the Authorities of the Nigeria Police Force to ensure that a thorough investigation is conducted into the case with a view to prosecuting the suspects without any delay,” he stated.

The lawmaker representing Delta South Senatorial District, Joel-Onowakpo Thomas, has called for a thorough investigation into the murder of 16 military personnel in Okuama Community, Ughelli South Local Government Area of Delta State.

The lawmaker, in a statement on Sunday in Warri, condemned the act and described it as “a crisis taken too far”.

While calling for calm, he noted that the military operatives were on a peace mission to rescue one Mr Anthony Aboh, who was allegedly kidnapped in Okuama Community.

Thomas, who is also the Vice-Chairman of the Senate Committee on Defence, commiserated with the military authority and families of the slain soldiers.

He called for a holistic investigation to unearth the remote causes of the crisis and urged both the state and federal governments to urgently intervene to prevent it from escalating.

“There is a need for the security agencies to go after the masterminds of the heinous crime.

“There is also the need for the military to tactically deploy intelligence in tracking the masterminds to avoid the killing of innocent people in Okuama Community.

“I commiserate with the military authority, families of the slain soldiers as well as others who may have lost their loved ones to the crisis.

“I urge the people of Okuama Community to assist the military to fish out the killers of the gallant soldiers,” Thomas said.

The Nigerian Army had in a statement issued on Saturday confirmed the death of 16 soldiers in the conflict between the military and youths of the community.

According to the statement issued by the acting Director of Defence Information, Brig.-Gen. Tukur Gusau, a Commanding Officer, two Majors, one Captain, and 12 other soldiers were affected.

A notorious terrorist recently arrested by vigilantes in North-Western part of Nigeria, Mohammed Dikko Radda, has said that he cannot recall the number of people he has killed.

Naija News understands that the terrorist hails from Jajjaye, a village in Katsina State.

In a video clip shared online by counterinsurgency expert and security analyst in the Lake Chad region, Zagazola Makama, the terrorist said he doesn’t look back to count numbers of casualties whenever he his shooting his victims.

“My name is Mohammed Dikko Radda, from Jajjaye village in Katsina state. I used an AK47 rifle during operations.

“Actually, I can’t remember whether I’ve killed or how many people I have killed because once I shoot, I don’t look back to see whether the victims are dead or not.

“I’ve participated in a couple of kidnap operations in about two communities. I can remember attacking Bargaji and Sabon Gari communities,” the terrorist confessed.