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FG suspends plans to borrow $22.7bn

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…Commodities market to be used to diversify economy — Osinbajo
The Minister of Finance, Mrs. Zainab Ahmed, Monday, disclosed that the Federal Government has suspended its $22.7 billion external borrowing plans due to current realities in the global economic landscape.
Speaking in Abuja, at the 2020 International Conference on the Nigerian Commodities Market, organized by the Securities and Exchange Commission, SEC, Ahmed stated that the government would not go ahead with the borrowing programme even if it secures the approval of the National Assembly.
The finance minister explained that the decision of the government to suspend the borrowing was due to the fact that market indices do not support external borrowings at the moment. She said, “The parliament is still doing its work on the borrowing plan.
One arm of the parliament has completed theirs and the other arm is still working and it is a process that is controlled by the parliament itself, so we are waiting.
“However, we are not going out immediately because the market indication is not in favour of external borrowing at this time. Even if we get approvals we will defer it and watch the market and go out only when the timing is right.”
She explained that the Federal Government was not relenting on its plans to diversify the country’s economy, noting that unfolding events of the past few months, the coronavirus pandemic and the oil price war, had further reinforced the resolve to diversify the national economy.
She disclosed that the current challenges in the global economy had brought to the fore the need for the country to develop a non-oil attitude to everything.
According to her, the Federal Government planned to prioritize expenditure in favour of major capital expenditures that would have greater impact, and which would create job and visibility and also enhance the ease of doing business in the country.
She noted that expenditures that are not critical must be deferred to a later date when things become more normal.
 She said, “Several national plans, programmes and projects have been directed at diversifying the production and revenue structures of our economy. “While some levels of achievements have been recorded in this area, more still needs to be done to ensure that our production and exports base become more robust, less vulnerable to external shocks and provide more opportunities to our teeming population.”
Commodities market to be used to diversify economy — Osinbajo
Also speaking, Vice President Yemi Osinbajo, stated that the government was taking steps towards developing the Nigerian commodities market, using it as a major driver for its economic diversification efforts. He said, “As we are all aware, Nigeria is working on diversifying its economy as well as its revenue sources.
The need to develop other channels of generating revenue and foreign exchange is critical. “This need is further underscored by the recent drop in the global price of crude oil, which also constitutes a major threat to achieving planned government expenditure.
“There are various other initiatives towards mapping, quantifying and efficiently exploring the nation’s solid minerals deposits.
Such efforts are equally necessary to diversify the country’s revenue sources from oil and create more opportunities in the regions where such solid minerals are deposited. “No doubt, some of these developments in Nigeria’s agriculture and solid minerals sectors present emerging opportunities to be further enhanced and fully explored, all to the benefit of everyone in the country, as well as our foreign partners.”
Nigeria’s commodities’ potential still unrealized — SEC Speaking in the same vein, Acting Director-General of SEC, Ms. Mary Uduk, reiterated that Nigeria was well endowed with agricultural, metals and energy commodities, noting that the country’s potentials in these areas are unrealised. She said, “The good news, however, is that the capital market can be used as an avenue to unlock these potentials and diversify the nation’s economy, while providing jobs, creating values and contributing to governments’ revenue.
“We believe that if we can develop and institutionalise a vibrant commodities trading ecosystem in Nigeria, we can substantially address problems such as lack of storage, poor pricing, non-standardization, as well as low foreign exchange earnings affecting our agriculture and other commodities sub-sectors.”

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There’s Political Genocide Against Christians in Northern Nigeria – Aisha Yesufu

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By: Fabian Apechihin

Sociopolitical activist Aisha Yesufu has accused Nigerian political leaders of perpetuating what she described as a “political genocide” against Christians in Northern Nigeria.

Yesufu made the remark on Tuesday in response to American comedian and TV host Bill Maher, who recently alleged that Nigerian Christians are facing coordinated attacks.

Maher, speaking on his HBO show, said, “I’m not a Christian, but they are systematically killing Christians in Nigeria. They’ve killed over 100,000 since 2009 and burned 18,000 churches. These are the Islamists, Boko Haram.”

Reacting via her X handle, Yesufu criticized what she called hypocrisy among Nigerian politicians who express concern over Christian persecution yet supported the Muslim-Muslim presidential ticket during the 2023 elections.

“You are shouting that Northern Christians are being persecuted, but you championed a Muslim-Muslim ticket! Their Christianity was not Christian enough for you during the 2023 election,” she wrote.

She concluded by calling for greater attention to what she termed the “political genocide” against Northern Christians, urging consistency in both words and actions when addressing religious and political marginalization in Nigeria.

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Jagunmolu to Kwarans: Don’t lose hope in govt on security challenges

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Stephen Olufemi Oni, Ilorin

The Jagunmolu and Asiwaju of Igbomina, Alhaji Chief (Dr) Abdur-Raheem Oladimeji, has expressed optimism that the rising insecurity in parts of Kwara State would not overwhelm the state.

He identified the incidences of banditry and kidnapping for ransom as a passing phase, which was designed by unscrupulous elements to destabilise Kwara.

Oladimeji, who is the Founder, Al-Hikmah University, Ilorin and Baba Oba of Offa Kingdom, said this in a statement issued in Ilorin on Monday in response to the recent security breaches in some communities in Kwara North and Kwara South.

He urged the residents of affected communities, and Kwarans at large, not to lose hope in the ability of the government and security agencies to tame the roughnecks and restore peace to their communities.

The Arogundade of Lagos described the terror campaign as an unconventional warfare that requires tactics and wisdom on the part of the military to tackle, pointing out that the attackers often cowardly withdraw to their shells after visiting attacks on their victims.

He cautioned those who are out to profit from the ruins of the affected communities by making mockery of the situation with reckless comments to stop forthwith.

Oladimeji also warned against scaremongering being created over the security challenge, urging vigilance and making useful information available to security agencies on any strange movements in their communities.

“Let us be wary of scaremongers, who have made it their daily habit to create imaginary fear as a result of which people are thrown into panic mode. That there is security breach has not been denied. However, we need to be careful and circumspect on the information unauthorized individuals circulate on the issue of insecurity,” the varsity founder noted.

Jagunmolu, who doubles as President-General, AROIF, appealed for calm, unity, security consciousness, while commending the government for its proactive intervention to rout out the unscrupulous element.

He praised the gallantry of military personnel and other security operatives, calling for words of encouragement among the people to boost the morale of the armed personnel.

Oladimeji sympathised with the families of those who lost their loved ones in the recent tragedy and called for additional deployment of security personnel to troubled areas for quick restoration of permanent peace.

“We need to pray for peace and justice to return to Igbomina land, Kwara and the entire country so that we can overcome our moment of trial and tribulation. Our people should take it as a matter of duty to report strange movements to the security agencies and constituted authorities,” Jagunmolu added.

END.

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Northern Christians Urge Tinubu to Resettle Displaced Persons in Benue, Plateau, Borno

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By: Fabian Apechihin

Northern Christian leaders have appealed to President Bola Ahmed Tinubu to urgently resettle displaced persons in Benue, Plateau, and Borno States, many of whom have remained in camps within and outside Nigeria years after violent attacks forced them from their ancestral homes.

The appeal was made in Jos, Plateau State, during a meeting with the President, which clerics described as a renewed opportunity to highlight the plight of displaced communities in Northern Nigeria. The leaders were in Jos to attend the funeral of Mama Lydia Yilwata, mother of Prof. Nentawe Yilwata, National Chairman of the All Progressives Congress (APC).

Speaking on behalf of the delegation, Rev. Dr Amos M. Mohzo, President of the Church of Christ in Nations (COCIN) and Chairman of the Heads of Denominational Leaders on the Plateau, lamented that more than 200,000 people from Gwoza in Borno State still remain in refugee camps in Cameroon and Chad.

“We humbly appeal to you, Mr President, to help bring them back home. In the same vein, we are calling for a lifeline for displaced communities in Plateau and Benue States. Rebuilding their livelihoods and housing will reposition them for meaningful life and productivity,” Mohzo said.

He commended the President’s efforts to strengthen national security and support for state police, stressing that resettling displaced families was critical for peace and stability in the North. Mohzo also thanked Tinubu for key appointments of Northern Christians—including Senator George Akume as Secretary to the Government of the Federation, General Christopher Musa as Chief of Defence Staff, and Prof. Nentawe Yilwata as APC National Chairman—and urged broader inclusion of Christians in governance.

Similarly, Rev. Joseph John Hayab, Chairman of the Christian Association of Nigeria (CAN) in Northern Nigeria, reinforced the call, urging Tinubu to establish a Special Presidential Reconstruction Initiative to rebuild homes, restore livelihoods, and provide social infrastructure for displaced families.

“Our people cannot continue to live in camps when their ancestral homes have been taken over. We are appealing to Mr President to act with urgency so that these Nigerians can return home and live meaningful lives again,” Hayab said.

The clerics pledged continued commitment to peace and national unity, assuring the President of their support for policies that promote justice, inclusivity, and human dignity. They also extended condolences to Prof. Yilwata, the Ngas nation, and the people of Plateau State over the loss of Mama Lydia Yilwata.

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