The Bayelsa State government has explained that the N17 billion facility it is processing is for the purpose of boosting the state’s economy through the development of its agricultural sector, create jobs and raise its internally generated revenue profile. The Commissioner for Finance, Mr Maxwell Ebibai, stated this while reacting to questions after rendering the statement of accounts for the income and expenditure of the state for August, September and October 2020.

“We decided to approach the state House of Assembly for approval to collect the facility for the purpose of developing our palm oil and our other agricultural potential.

“The Bayelsa government is not collecting N17 billion to spend on recurrent expenditure. Rather our citizens involved in commercial agriculture would benefit from it and the process would also generate employment for our people and boost our revenue too,” he said. While noting that the money is yet to be collected, Mr Ebibai explained that the N17billion facility is in three parts: N10billion from the Central Bank of Nigeria, with flexible repayment terms, and that the facility is open to all states in the country.

He said the N4billion is a Sustainable Development Goals (SDG) counterpart fund, which would be deployed into fixing some of the state’s road infrastructure, provision of potable water, rehabilitation of schools and primary healthcare facilities; and lastly the N3billion is a revolving temporary credit facility, with a 12-month tenor to fund financing gap whenever there is a shortfall in monthly revenue accruing to the state. He pointed out that in recent times there had been a sharp decline in revenues from the Federation Account to the state as a result of statutory deductions, which had impacted the state’s economy negatively. Ebibai maintained that it was necessary to obtain the loan in order to make up the gap in the event of revenues falling below a certain threshold to enable the state to manage its economy.

“We are aware that the national economy has gone into another recession. Invariably, if the economy is bad, you can do things to reflate it and put money in the hands of the people,” he said. Ebibai further stated that the loan and debt profile of the state is not hidden as it is published on the Federal Government’s Debt Management Office website for anyone to see and that through the transparency briefings, the government declares the income and expenditure of the state regularly. “The loan profile of the Bayelsa State Government is there on the Debt Management Office (DMO) website.

You will see the breakdown of the loans and what they were used for. You have the full details and the public document is there.” He contended that it is the government’s responsibility to do what it considers to be in the best interest of the people by being responsive to situations in averting financial crisis. “The steps we are taking show that the government of Senator Douye Diri is thinking ahead, envisaging situations and responding to them even before they arise,” he said.

Interior Minister Urges Youths to Deploy Digital Tools for Positive Change The Federal Government has called on youths in Nigeria to take advantage of the present digital revolution to channel their energy to good causes through the acquisition of new skills and knowledge sharing so as to nourish human capacity for the socio-economic development of the country.

Minister of Interior, Ogbeni Rauf Aregbesola made the call in Lagos during a Stakeholders Engagement on Internal Security and Conflict Resolution in Nigeria. In his speech, titled, “Lagos is the destiny of our race,” Aregbesola described the youth as the pride and glory of any people. “The youths are the pride and glory of any people. We must understand that youths are a unique demography. People under the age of 25 constitute 45% of global population, while they are 60% in Africa and the Middle East”. “Today’s youth are a peculiar breed. They are a new generation of the social media and the power of ideas and intellect.

They appear more intelligent and far more enterprising than previous generations, the deployment of their intelligence is a different matter; which we must all seek to re-channel through positive modelling and gainful employment. The digital revolution has increased young people’s capacity to bring about positive social change. ICT gives them the tools to learn new skills, to share knowledge and to nourish human capacity. As information flows seamlessly around the planet, young people can more effectively act as catalyst for change – locally and globally. They must therefore be commended for the courage to start a movement that shook the foundation of this nation in a way that has never been done before. However, much as they are a great asset, they also can be a great risk – to themselves and to the society – if their energy is not positively channelled”, he said. He observed further that the time has come to rouse the consciousness of their leading lights to confront the charlatans among them.

These charlatans he said, are the elements capable of dragging down society, because according to him, their activities are destructive to society as well as to themselves. The Minister stated that the stakeholders engagement was convened to proffer lasting solution to security challenges across the state and the country at large, in order to enhance socio-economic development, especially in the wake of the ENDSARS protest, promote unity among diverse ethnic population of the State as well as share knowledge and ideas on matters that could create crisis in the polity and proffer proactive solution, among others. He added that security challenges are of global concern, noting that despite the present challenges, the President Muhammadu Buhari-led Administration was working towards attaining the most secure state for all Nigerians and would need all hands to be on deck to ensure its realization.

Ogbeni Aregbesola stated further that armed conflicts and terrorism have devastated large parts of the globe, with 17 countries going through one form of armed conflict or the other, leaving in its wake thousands of dead bodies, ruined landscapes and a large army of internally displaced persons, and therefore called on Nigerians, particularly the youths not to take the relative peace in the country for granted.

He called on all the stakeholders in charge of internal security and those present to bare their minds on how they can make Lagos and the entire South West region that haven of habitation, commerce, economic development and the show-piece of civilization – the best that the first man can offer humanity. Earlier, the Executive Governor of Lagos State, Babajide Sanwo-Olu pledged the support of the good people of Lagos State and by extension, the entire South West region, to President Muhammadu Buhari’s led-Administration in its determination to ensuring peace and security in the country so as to bring about socio-economic development of the nation. Also speaking, the Minister of Police Affairs, Alh. Muhammad Dingyadi, condoled with the Lagos State Governor on the destruction of properties.

While reiterating the improvement in the welfare package of Police personnel evident in the increase in their salaries, he further assured that government has put all necessary steps in place, to protect lives and property of all Nigerians and foreigners alike. In his remarks, the Oba of Lagos, Oba Rilwanu Akiolu urged the Federal Government to grant a special status to the State to enable it empower the youths with jobs. This he said will address youth restiveness.