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Newspaper review: Obasanjo blew $16b on power projects - Buhari

Newspaper review: Obasanjo blew $16b on power projects - Buhari

The newspaper review for Wednesday, May 23, leads with President Muhammadu Buhari allegation that former president Obasanjo's administration squandered $16b on power projects among other stories.

The Nation reports that thousands of Catholic faithful nationwide on Tuesday, May 22, staged a peaceful protests to register their disapproval and grievances against the killings of innocent people, the bombing of churches by Boko Haram insurgents, militia and killer herdsmen.

The protesters said the action was to draw the federal government’s attention to wanton killings in the country. According to them, those who are involved in the killings should be unraveled and punished.

READ ALSO: Biafra: Why we arrested peaceful MASSOB protesters - Police

They specifically condemned the murder of two Catholic priests, Rev. Fr. Joseph Gor and Fr. Felix Tyolaha and 17 other Catholic faithful by on Tuesday, April 24 at St. Ignatius Catholic Church, Ukor-Mbalom, Gwer-East local government area of Benue state during morning Mass.

Newspaper review

Newspaper review

This Day reports the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its second meeting for the year, expressing apprehension that the late passage and implementation of the 2018 budget, as well as election spending, could trigger inflationary trends and reverse the economic gains made so far, if pre-emptive measures are not adopted.

The committee, which for the 11th consecutive time, retained the Monetary Policy Rate (MPR) at 14 per cent, Cash Reserve Ratio (CRR) at 22.5 per cent, Liquidity Ratio (LR) at 30 per cent, and the asymmetric corridor at +200-500 basis points around the MPR, explained that it retained in consideration of the forecast of high liquidity injection in the second half of 2018, upward pressure of prices driven largely by substantial expansion of fiscal policy, which would arise from the late passage of the 2018 budget, outstanding balance from the 2017 budget and pre-election spending, to retain the interest rate.

Responding to questions, the CBN governor, Mr. Godwin Emefiele, who briefed journalists on the outcome of the MPC meeting, said 8 of the 9 members of the committee who were part of the meeting voted for the retention of the rate while one rooted for further tightening.

Newspaper review

Newspaper review

Vanguard reports that in an apparent reference to former President Olusegun Obasanjo, President Muhammadu Buhari, on Tuesday, May 22, said that a former head of state had been bragging on how he spent $16 billion on power project in the country but could not account how the money was spent.

President Buhari who also accused the said former head of state which he failed to mention his name, killed the rail project in the country.

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Speaking when he received Buhari Support Organisation (BSO), led by the comptroller of customs, Col. Hameed Ali, rtd, the president noted that between 1999 to 2014, when the oil price soared to about $135 and oil production of 2.1 million barrels per day, there was nothing to show for it.

He had restrained himself and his aides several times in the past from responding to various accusations of non-performance and clannishness leveled against him by Obasanjo.

Newspaper review

Newspaper review

The Guardian reports the Christian Association of Nigeria (CAN) has urged President Muhammadu Buhari to suspend his second term bid, and address the security challenges in the country.

This was contained in a statement yesterday in Abuja, by CAN President, Dr. Samson Olasupo Ayokunle.

He said, while CAN is not opposed to the president’s exercise of his civic right by seeking re-election, he must suspend it and attend to the security problems in the country.

The association also asked him to ensure the release of the kidnapped Dapchi schoolgirl, Leah Sharibu, as well as the remaining Chibok girls, and other abductees by the Boko Haram terrorists.

Newspaper review

Newspaper review

The Punch reports the comptroller-general of the Nigeria Customs Service, Hameed Ali, on Tuesday, said only lazy Nigerians would claim to be hungry under President Muhammadu Buhari.

Ali said this while enumerating what he called the achievements of the present administration in agriculture when he led members of the Buhari Support Organisation to the Presidential Villa, Abuja.

According to him, manna does not fall from heaven, hence the lazy must be hungry.

He said, “What more can we say in terms of growth of wealth? People say we are hungry. Of course, the lazy must be hungry because if you do not work hard, manna doesn’t fall from heaven.

“So, when people say we are hungry, there was never a time in Nigeria that food was dropped in the mouth of the people and there can never be.”

He told Buhari that Nigerians were behind him in his quest to seek re-election in 2019.

“All we want to say on behalf of Nigerians is that we are solidly behind you in this second term bid,” Ali told Buhari.

Newspaper review

Newspaper review

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