NIGERIA COULD EXIT ALL EMBARRASSING DEBTS IF IMPUNITY WASTAGES ARE BLOCKED!

ZION B-BC   NEWSLETTER.  

(Looking at Nigeria's Political System From a Godly Perspective).

A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria {Vol. 8.NO 323. 20th October, 2019.} “…ONLY The Truth, Will Set You   Free! (John.8:32). . PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

NIGERIA COULD EXIT ALL EMBARRASSING DEBTS IF IMPUNITY WASTAGES ARE BLOCKED!

Antagonists who believed that Nigeria's 2020 Budget and subsequent ones would be very difficult to implement, have hinged their unfounded fears/arguments on three planks, that unless issues of debt management: i.e. external indebtedness/debt servicing, internal borrowings and the controversial petroleum products subsidy, are completely resolved favourably, the country might encounter another economic recession, whereas, these challenges have been adequately addressed in the Mid- Term Expenditure Framework (MTEF), and the annexed Financial Document, which were submitted earlier by Executive to the National Assembly! 

The Federal Government is aware that all of the budgets from 2019-2023, MUST serve as legal testaments that MUST be cast in iron to prove the credibility of the Change Administration of EIGHT consecutive years, because 2015-2018 budgets had served as the FOUNDATION STONES on which APC's legacies MUST be solidly built for posterity to judge the administration of the man who contested FOUR TIMES to occupy the much-coveted seat of the President and Commander-In-Chief of the Federal Republic of Nigeria - the man, Muhammadu Buhari, GCFR!

For the painstaking an discerning minds, the contentious issues which were meticulously addressed even when the Minister of Finance, recently addressed the media in respect of the breakdown, should no longer attract any further condemnation because Internally-Generated-Revenues (IGR's), should exceed budget assumptions especially as the crude oil bench mark at US$60 dollars and the Nigerian Customs Service, with the advantage of the closed borders should rake in higher quarterly revenues (which stood at N 311.2 billion, as at the end of the First Quarter  of 2019), while Onne Port, Area 2 and Tin Can Island Port Commands have also reported a total of N81.1 billion naira, and N78.8 bn respectively (as at the end of the First and Third Quarters of 2019, respectively), to reduce the impact of debt-servicing and borrowings and mitigate deficits!
It is also very important to note that exploration, exploitation and extraction of the natural mineral deposits (available in large quantities in all States of the Federation), are being aggressively addressed and intensified by both the Federal and State Governments and through a concerted effort of bringing everybody (the locals and their foreign partners on board), revenues from this Sector, would exceed that of Crude Oil, in a very short while!
Fuel subsidy would eventually be cancelled when:
The nation is flooded with Refineries and petroleum products were no longer imported;
All forms of oil bunkering eliminate;
Road networks across the nation are in perfect conditions;
Public transportation of air, rail, roads and water ways are modern and digital like in other climes between 2019 and 2021.

DID NIGERIA BORROW MORE IN THREE YEARS THAN IN 30 YEARS?
It is not true that Nigeria borrowed more in the last 3 years than it did in 30 years! That must surely be part of the grand plan to discredit the Change Administration because, the nation's new attempt at democracy is only 20 years now -1999-2019!
Between 1999-2005, Nigeria's total foreign debt was US$35.916 billion when ex-President Obasanjo, successfully negotiated with the PARIS CLUB CREDITORS, to pay back in monetary transaction - the sum of US$18 billion dollars while the rest was forgiven?  When Obasanjo exited office in 2007, the Peoples Democratic Party (PDP), held sway as the ruling party and accrued fresh debts to the tune of US$63.806 billion dollars by 2015, when it handed over to the APC which won the Presidential election! Nigeria's total foreign debt as at March, 2019, was US$ 68.4 billion dollars and nominal GDP reached US$114 billion dollars as at June, 2019!

Is the ruling party borrowing to pay salaries? No! All borrowings are channelled towards CAPITAL PROJECTS/INFRASTRUCTURES that are people-oriented and are identifiable unlike what transpired in past administrations!
It is a welcome development that the President had ordered a probe into the accounts of NNDC which had gulped trillions of naira from 2001-2018, with barely any tangible infrastructures to show for it!

THE TRUTH ABOUT NIGERIA'S DEBT BURDEN & EARNINGS!
Vice President, Prof. 'Yemi Osinbajo, said on 27th October, 2018, Nigeria's debt was US$73 billion dollars - a $N10 billion dollar increase from the N63 billion dollars, the APC Administration inherited in 2015, at the 9th Public Lecture of Sigma Club, at the International Conference Centre, University of Ibadan, South West, Nigeria. He further said that the nation's debt in 2010, was US$ $35bn dollars; 2011, $41 bn dollars; 2012, $48bn dollars; 2013, $64 bn dollars; 2014, $67.7bn dollars; 2015, $63.8bn dollars; 2016, $57.8bn dollars; 2017, $70bn dollars; 2018, $73 bn dollars!

UNDISPUTED EARNING FIGURES DURING THE OIL-BOOM ERA ARE AS FOLLOWS: 1990-1998, a period of 8 years, $119.8 bn dollars; 1999-2009, a period of 10 years, $481bn dollars; and 2010-2014, a period of 4 years, $381bn dollars! Total earnings by PDP Administration between 1999-2015, was, US $ 862bn dollars in 16 years!

OUR POSTULATION: MULTIPLY US$ 862 bn dollars with an aggregate forex rate of N160 naira per dollar and get a whooping N137.920 trillion! DIVIDE this figure by 16 and get N8.62 trillion per annum earning, while annual BUDGET ASSUMPTIONS, never exceeded N4.5 trillion ($22.6 bn dollars), as per the 2015 Budget figures submitted to the National Assembly by ex-President Ebele Jonathan, before his exit! NOW, DEDUCT N4.5 trillion naira from N8.26 trillion, you get a balance of N4.21 trillion!! FELLOW NIGERIANS, WHERE DID THE MONEY DISAPPEAR? IS THE 3-YEAR-DEBT OF BUHARI MORE THAN THE 30 YEARS DEBTS OF THE MILITARY JUNTA/PDP PUT TOGETHER? YOU BE THE JUDGE!

OUR RECOMMENDATIONS: BLOCK ALL WASTAGES IN BOTH THE EXECUTIVE AND THE LEGISLATURE!
News have it that the President is taking measures to look into areas of wastages in government, beginning with the dispensing of ESTACODES (foreign exchange allowances paid to top public officers who travel overseas for official duties), many of who travel Business Class, which ripped off government coffers in millions of US dollars annually! Mr. President should not scratch the surface of the War Against Corruption in this SECOND AND LAST TERM, but ensure to keep his integrity intact by going the whole hog!

He should beam his searchlight on the following areas of wastages/leakages urgently:
All bogus, humongous, fraudulent allowances by the TWO ARMS - especially the LEGISLATURE! N5.5 billion for legislators exotic vehicles MUST be stopped - they should purchase locally- manufactured vehicles from INNOSON MOTORS!
Budget padding MUST not be allowed - not ever again - enough is enough! HOR Member Jibril Abdul Mumini's confessions of this heinous crime by the citizens representatives are still in the public domain!
ONE LEGISLATURE IS SUFFICIENT FOR NIGERIA! - (a) We members of the editorial board of the Zion B-BC Newsletter began the campaign and advocacy since 2013, and we have never stopped whoever cared to listen that, parliamentary duties should NOT only be on PART-TIME but that each State of the Federation and the FCT, should produce TWO representatives each - totalling 74 Certified Citizens, who would distinguish themselves righteously!
THE SENATE MUST BE SCRAPPED! It is long overdue for the upper house of the NASS to be locked and its keys thrown into River Niger! Nigeria's Senate of the of the FOURTH REPUBLIC from 1999, had served - with very few exceptions - as a CONFLUENCE OF GREEDY POLITICIANS (discredited ex-governors, expired civil servants, ex-Commissioners/Ministers, political jobbers, etc), who are sworn enemies of downtrodden masses who neither voted for them nor were even aware of their representation, to date!
Apart from a regular annual N150 billion for their allowances, they would always manoeuvre the Constitutional duty of oversight to corner huge sums of money as CONSTITUENCY ALLOWANCES illegally to swell their insatiable appetites for the love of money at the expense of the masses who die every day in the hands of terrorists, bandits, kidnappers, armed robbers etc,  and always had the guts to label Nigeria as the poverty capital of the world with 100 million who could hardly afford a meal per day, over 60% youth unemployment, over 13 million out-of-school children who roam the streets etc!

THE ADVOCACY IS GAINNING MOMENTUM!  The argument that the President could not wake up one morning and annul the Sections of the Constitution that established the SENATE is very untenable! HOW LONG DID IT TAKE THE 7TH/8TH NASS TO PASS ABOUT 48 BILLS WHEN IT WAS CONVENIENT TO FAKE LEGISLATIVE PERFORMANCES? ANSWER: ONE DAY!!

President Buhari MUST make the bold move with the support of all patriotic citizens, send an EXECUTIVE BILL FOR THE SCRAPPING OF THE SENATE LIKE HIS SENEGALESE COUNTERPART WHOSE COUNTRY IS NOT FACING EMBARRASSING FOREIGN DEBTS and whose country is relatively at peace with a virtually contented citizenry! IF LEGISLATORS would not co-operate, the President could call for a REFERENDUM TO DECIDE THE ISSUE ONCE AND FOR ALL!

We are sure that all monies that would be saved from wastages from all of the above sources would be more than sufficient to take care of all INDEBTEDNESS, place Nigeria on a very sound economic footing and NIGERIANS WOULD DEFINITELY FORGET THE PAST, MOVE FORWARD AND SUPPORT LEADERS WHO WOULD EMERGE AS HEROES OF THIS OVERDUE PURGE OF A CORRUPTED NATION!
LET IT BE KNOWN TO ALL ELECTED POLITICIANS, POLITICAL APPOINTEES AND PUBLIC OFFICER- ESPECIALLY THE PROFESSIONAL CIVIL SERVANTS, THAT NO ONE WILL BE ABLE TO STEAL ONE KOBO FROM THE TREASURY SINGLE ACCOUNT (TSA), BECAUSE ALL EYES ARE FOCUSED TO MONITOR, LIKE THE CCTV CAMERAS, & ENSURE THAT ALL DEPOSITS/WITHDRAWALS WERE LEGAL AND THAT NO ILLEGAL TRANSACTIONS WOULD EVER BE ALLOWED!
‘’And five of you shall chase an hundred, and an hundred of you shall put ten thousand to flight: and your enemies shall fall before you by the sword’’ (Lev 26:8).

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com, https://www.google.com/+zionfaithbiblebelievingchurch.

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament of your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations.

I am, yours sincerely, Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08098194390.  08080243066. G-mail- dvdolufon@gmail.com.