BMO CAUTIONS AGAINST MISINFORMATION ON NATION’S DEBT 

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[07:24, 12/12/2019] Boss:
The Buhari Media Organisation (BMO) has cautioned against continual misinformation of the public, especially on matters that have been clarified and laid to rest.  

The group made the observation while commenting on the seemingly unceasing controversy on the nation’s debt.

The group said the claim by Dr Obadiah Mailafiya, a former deputy governor of the Central Bank of Nigeria (CBN), that the country’s total debt was $7 billion in 2015, which according to him, has now increased to USD84 billion.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the group said Mailafiya’s claim is “fallacious and unfounded. What is becoming obvious is that we have a band of ordinarily distinguished Nigerians who are determined to manipulate and mutilate issues in the public space, and it cuts across all segments. 

“Contrary to the claim by Dr Mailafiya, the total public debt stock as at June 30, 2015, was $63.81 billion, and not $7B as claimed by him. The people Nigerians should ordinarily trust, unfortunately, have decided to breach that trust by consciously and deliberately lying against what the government is doing.

“The reality is that between 2010 and 2015 the People’s Democratic Party (PDP) led government generated more than $390 billion from the sale of crude oil alone. If we add the total debt stock of $63 billion at 2015, the total amount generated in the period will be $450 billion, and we have absolutely nothing to show for it in terms of infrastructural development.”

BMO said if our debt-revenue services ratio is high, “it is because governments before now had accumulated so much debt, yet the PMB led government is the one paying the huge debt-revenue services. To further address this problem, the current administration has deployed and is implementing a number of policies to enhance the government’s revenue generation capacity significantly. 

“Chief among these policies are the Strategic Revenue Growth Initiative introduced in January 2019 and more recently, the Finance Bill. These are some of the measures introduced by this government to significantly enhance government’s revenue and thus, bring down the ratio of Debt Service to Revenue.

“We acknowledge what the Debt Management Office (DMO) has done and use this medium to correct the misinformation on the status of the nation’s debt which some mischievous elements are using to blackmail the government from securing loan in furtherance of PMB’s commitment to critical infrastructural development,” the statement added.
[07:27, 12/12/2019] Boss: NOC APPOINTS HRM ELEGUSHI AS ITS PATRONS FORUM’S CHAIRMAN, SETS UP COMMITTEE ON AFN CRISIS

The Nigeria Olympic Committee (NOC) during its board meeting which is part of their Annual General meeting on Wednesday hosted its first Patrons Forum.
The objective of this Forum is to further highlight our roles, expectations as Patrons of the Olympic and Commonwealth movement amongst other vital issues that is affecting our sport.
HRM Oba Saheed Elegunshi was appointed as the Chairman of the NOC Patrons Forum. The delighted Royal majesty thanked everybody present in his acceptance speech and pledged his total commitment to the course of the Olympic movement.
Some of the Patrons in attendance were His Excellency, Dr Emmanuel Uduaghan, Alhaji Ibrahim Galadima, Rt. Hon Marc Wabara, Mrs kofo Nwokedi and Maj. Gen. Adamu Dyeri.
Also, the NOC set up a four-man investigative panel to mediate in the crisis rocking the Athletics Federation of Nigeria (AFN).
Phemmy Adetula, Public Relations Officer of NOC said in Abuja that the panel has Barrister Francis Orbih, President of Badminton Federation as chairman with Binga Margaret, President, Taekwando federation, Toyin Aluko and Emmanuel Nweri as secretary.
According to Adetula, the NOC cannot afford to close its eyes to happenings in the AFN. The Olympic movement and solidarity is known for peaceful co-existence. So, for this simple fact, athletics as a sport including other federations in the country must enjoy a peaceful environment without any rancour as they prepare for the forthcoming Olympic Games in Tokyo, Japan next year.
He said the committee was mandated to report its findings within the shortest possible time to NOC.
The Annual General meeting of the NOC will take place today Thursday December 12th at the Starview Palace Hotel in Abuja

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