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FG Spending Behaviour Betrays Bankruptcy Claims – Obi – Lifestyle Nigeria

The Presidential Candidate of the Labour Party in the February 25th election, Peter Obi has reacted to the bankrupt alarm raised by the Federal Government and challenged them to tell the nation how much they inherited from the previous government.

Obi said in a series of tweets on his X handle on Thursday that the alarm also contradicts the spending behavior of the government as contained in their supplementary budget just signed into law by the President and the bloated size of the government.

“I just read yesterday, a widely publicized story from the present APC-led Federal Government saying that they inherited a bankrupt nation from the former APC administration.

Related Topics:bankruptcy Behaviour BETRAYS Claims lifestyle Nigeria Obi spending

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Lagos Raked In N300m From Land Use Charge In 4 Months – Commissioner

The Lagos State government announced that it generated a total of N300m from Land Use Charge within the first four months of the year.

Lifestyle Nigeria reports that the Lagos State Commissioner for Economic Planning and Budget, Ope George disclosed this during a presentation of the scorecard of the Ministry of Economic Planning and Budget, at the Ministerial Press Briefing held in Lagos to mark the first anniversary of Governor Babajide Olusola Sanwo-Olu’s second term in office.

The commissioner added that the amount generated within the first four months exceeded the projected revenue of N700m from Land Use Charge for 2024.

This indicates a promising trajectory for surpassing annual revenue projections. The statistics also show that Lagos State’s economy is still robust and contributes about 20% of the entire country’s gross domestic product.

He said, “Over the last couple of years, Lagos had faced numerous challenges, particularly when COVID-19 and #EndSARS struck. And so, we have had a lot of shocks within our system over the last couple of years and with everything going on around the world. We are currently riding the curve and we are coming out on a better side. You hear sometimes when they say Lagos is one of the largest economies in Africa and truly, it is not static. We will continue to move based on what is going on in the world.

“As we speak now, I believe that we are currently ranked seventh in terms of GDP in Africa. We contribute at least a minimum of over 20 per cent of Nigeria’s GDP and you will find that throughout review, during the first term of Mr Governor, we are moving in the right direction.

“Our GDP has moved from about N27tn to N41tn, everything shows that our indices are climbing in the right direction despite all the shocks and all the problems we have witnessed in the past.”

On the state’s N2.267tn budget for 2024, the commissioner posited that the budget was inadequate to meet the infrastructural needs of the state.

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Edo Govt Condemns APC’s Criticism Of Labour House Named After Oshiomhole – Lifestyle Nigeria

The Edo State Government has said that the long-term impact of Governor Godwin Obaseki’s projects cannot be appreciated by the All Progressives Congress (APC) because they have always thrived on subversive politics which imperil the people for the gains of a few.

The Commissioner for Communication and Orientation, Hon. Chris Nehikhare, who said this in a statement, noted that it was regrettable that the APC would find the commissioning of the new Labour House and the construction of Temboga road as distasteful.

According to him, “It is curious to learn that the All Progressives Congress (APC) finds the building of a Labour House and the construction of an access road in the Temboga area in bad taste just because they want to play politics.

“But we are not surprised by their lack of understanding because they have always been used to subversive politics that have never placed the people at the center of development. In their reasoning, projects should only be constructed for the benefit of few people, and not for the generality of the people.

“If they had paid close attention, they would know that the Labour House project was ongoing for well over two years and was not hurriedly constructed as they are wont to do when they want to deceive unsuspecting members of the public. The term ‘Greek Gift’ which they bandied carelessly is their go-to model and we are not sorry that the import of the project is lost on them.”

He noted that the claim that Obaseki’s projects are not intended for long-term impact was laughable because the Governor is perhaps one of the few helmsmen in the State who has worked with the intention to bequest transformative projects that are targeted at future benefits.

He said: “From massive investment in basic education reforms which are intended to build a workforce of the future, to the impactful Edo State Oil Palm Programme (ESOPP) to the governor’s industrialization drive through private-sector led investments in power, energy and technology, no one else has demonstrated a better commitment to making Edo a State better prepared for the future.

“The governor is finalizing the 30-year development plan, which will be enacted as law to ensure that the State maintains a defined development trajectory. This is the best form of thinking and working for the future. But we know the APC cannot understand this because even at the national level, they have been unable to manage our fortunes leading to the halving of the country’s Gross Domestic Product (GDP) in the last 10 years. For them, there is no plan for the future, it is all about eating the ‘seed yam’”

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How Nigeria Spends $8bn Annually on Importation Of Steel — Minister

Lifestyle Nigeria gathered that the Minister of Steel Development, Shuaib Abubakar on Thursday said that Nigeria as a nation was spending a sum $8 billion to import steel into the country annually, canvassing that it was in the interest of the nation for multi-billon Ajaokuta steel company to fully become operational

Abubakar stated this during Abuja during an interactive session with the House of Representatives Committee on Steel Development in Abuja on Thursday.

He said that becoming fully operational would cost the federal Government a lot of capital his Ministry was already preparing a 10-year working document for the President for the revival of the Ajaokuta steel company.

He said that it was in the country’s own interest for Ajaokuta Steel to work so as to boost its economy

He said that the Federal Government paid 500m dollars to terminate the concessional agreement of Ajaokuta, adding that the ministry was working very hard to find a solution to the company steel.

According to him, “It is a problem that has persisted for 45 years. we have gone to China to come and invest in the steel company including setting up a new plant and we have gone to seek financing.