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Tag: Ngama

  • Ngama: APC’s mistake ‘ll give us an edge in Yobe

    Ngama: APC’s mistake ‘ll give us an edge in Yobe

    Dr. Yerima Ngama is the Peoples Democratic Party (PDP) senatorial candidate for Yobe North District. In this interview with reporters in Damaturu, the Yobe State capital, the former Minister of State for Finance explains why he opted to vie for the Senate. JOEL DUKU was at the event. 

    What is your impression after the flagging-off your campaign?

    I want to say that the response exceeded my expectations. I received people from all over the senatorial district within a short time.  So, to me, it is a clear indication that my people have accepted my senatorial bid and I am very grateful to God and the good people of Yobe North who turned out in large numbers to attend the rally. I think we have started very well and I am sure of success.

    Why did you switch to the senatorial race after the governorship primary?

    I believe that everything is destined by God. Whenever I pray to God, I have never prayed that God should make me governor. I only prayed to God to make me the best which only he knows. God can make you to become anything; it is not the position that matters, but God’s blessings. I was a minister of state for 31 months and God really blessed that tenure and period because the development projects and programmes that I brought within that time were much. I brought about 77 development projects, including roads, completion of several abandoned projects like that of the NTA, youth empowerment and the prison project. The empowerment includes the distribution of over 650 Keke NAPEP, over 400 commercial cars, and I can’t even count the number of motorcycles that were distributed to the youths. In our history in this area, we have never promoted poultry farming. We provided chicks in several thousands to people across the state. We brought fertilizer to the state and compelled the Yobe State government to hands off the distribution of fertilizer, which was ridden with corruption.

    During the hardship period last year, we distributed over 222 trucks of grains to the people. The University of Gashua was initially shelved, but we thank Mr. President for listening to us and approving it for us. With all these projects, I think it’s not the position that matters, but what God has blessed you with in that position. Even the governor of Yobe has not done what I did within that period.

    What have you identified as the problems of your people that you will tackle at the Senate?

    Number one problem is drinking water because it is connected to health. If you look at Gashua area, all our water have iron, the more you drink it, the more likely that you will have kidney disease. This area is the headquarters of kidney failure in the whole country. The only way to solve this is to treat the source, which is the water that we drink. With the water treatment plant that will be in both Gashua and Nguru and this will be the size of what we have in Gombe and all the other four local government will have medium scale water systems. We are adding Bursari and Fika local governments. In Fika, there is a Federal Government Water Project that was started that requires about N500m to finish it and we have already included it in our project list. I will not wait until I am sworn in as a senator. The moment we finish election and I win, I will just go up and start pursuing these projects. Right now, I am in touch with the Federal Ministry of Water Resources where we had a committee that I am still a member, even after I left the cabinet. So, I will just pursue it. We also have a health programme for the new children and maternal hospital of 250 beds capacity in Gujba and Potiskum. These are things that I will continue with even before I am sworn in as senator.

    When we get to the Senate, the work is divided into two; one is to ensure that we have excellent legislation in this country and to ensure that we monitor the government. In terms of bringing development to my people, I believe that what I have done in the past will be a child’s play, compared to what my people should expect in the future.

    Why do you think you have an edge over your opponent who has been at the National Assembly for the past 16 years?

    The fact that he has been there for 16 years suggests that he has become rusty. If you look at what he has done for 16 years, it is not up to 10 per cent of what I did for 31 months as a minister and everybody knows that. That is, I was given an opportunity for two and a half years and I have proven myself. But, he has been there for the past 16 years and people know he has done woefully. In fact, you cannot compare the two of us. I don’t have any iota of doubt that if there is a free and fair election, I am going to defeat him.

  • Ngama: why I want to be governor

    Ngama: why I want to be governor

    Former Minister of State for Finance Dr Yerima Ngama has explained why he wants to be Yobe State governor.

    He said it was to reverse the state’s “unfavourable development indices for the good of the common man”.

    Ngama is the only aspirant who has picked the Peoples Democratic Party’s (PDP’s) N11 million nomination form.

    There are indications that former Minister of Police Affairs and Agriculture Adamu Maina Waziri is also interested in the seat, which he has contested and failed four times.

    Speaking with reporters in Damaturu, Ngama said: “There can never be a better time to serve Yobe than now. My ambition is hinged on the plight of the common people, who are poor in the majority. I am convinced that the time to offer myself for the service of my state at this exalted capacity is now.

    “My ambition is not personal; it is the ambition of every common man that desires change in Yobe. Together, we are going to reverse the negative developmental indices that have characterised our dear state since its creation in 1991. In any development statistics taken in the country, you will discover that Yobe is either the second to the last or the last.

    “The time has come for our people to live a good life and make healthy children for future generations and that is what I represent if I am voted as governor.”

    Pledging to eradicate polio and other diseases, and reduce child/maternal mortality if elected, Ngama said: “We have the worst result in maternal mortality rate; 218 of every 1,000 women die at childbirth. Polio has been eradicated in all states except Yobe. This is unacceptable.”

  • Malabu oil deal: Reps seek recovery of $1.092bn

    Malabu oil deal: Reps seek recovery of $1.092bn

    … Want Adoke, Ngama prosecuted

    The House of Representatives is seeking the recovery of $1.092 billion paid on the transaction involving the Federal Government, Shell/Agip Companies and Malabu Oil and Gas in respect of an oil block – OPL 245 in 2011.

    The report also seeks the prosecution of top government officials involved in the alleged scam.

    According to an Economic and Financial Crimes Commission interim report on the case, the Attorney General of the Federation and Minister of Justice, Mohammed Adoke and former Minister of State, Finance, Dr. Yerima Lawal Ngama, instructed the release of the funds into Malabu Oil and Gas Limited accounts in August 2011.

    In a report by the Leo Ogor- headed ad- hoc committee on the transaction, the committee recommended:

    “That in line with global best practices, accountability and transparency, individuals and financial institutions linked with and found culpable by the Economic and Financial Crimes Commission (EFCC) of receiving and transferring money unlawfully with respect to or arising out of the Resolution Agreement, should be charged to an appropriate court of competent jurisdiction, and any such monies unlawfully transferred should be recovered.”

    Malabu Oil and Gas is owned by Mohammed Abacha, son of the late dictator, who has 50 percent.

    Other investors in the company are- a former Minister of Petroleum Resources, Dan Etete (30 percent) and Pecos Energy (20 percent).

    The report added that the granting of the licences was based on a highly flawed Resolution Agreement entered into between Malabu Oil and Gas, SNEPCO and Nigeria Agip Exploration Limited with the Federal Government acting as obligator.

    “The Resolution Agreement put together by the Federal Government ceded away our national interest and further committed Nigeria to some unacceptable indemnities and liabilities while acting as obligator,” the report said.

     

     

  • FEC approves $100m loan facility for three states

    The Federal Executive Council (FEC) on Wednesday approved the signing of a $100 million loan agreement from the Indian Import- Export Bank for three states namely Cross Rivers, Enugu and Kaduna.

    The Minister of State for Finance, Yerima Ngama disclosed this to State House correspondents at the end of FEC meeting presided over by Vice President Namadi Sambo.

    According to him, the $100 million facility will be first taken by the federal government and lent to the three states.

    He said that $30 million is for Cross Rivers state towards its independent Power project while Enugu state government will get $40 million for the electrification of 96 communities, supply and commissioning of 33KVA and four 15KVA lines and the distribution of transformers and other accessories to the 96 communities in the three Senatorial zones of the state.

    Ngama said $30 million will be on lent to the Kaduna state government to augment the resources needed for the construction of 70 Kilometers transmission line from the Gurara Dam to Kaduna industrial area and the construction of 132/ 33KVA substation power supply to kaduna industrial area.

    50 communities in Kaduna state, he said, will also benefit from solar electricity project.

    He also said that the facility will attract concessionary rate of two per cent interest rate and will be repaid over a ten year period with three years moratorium, but with a commitment charge of 0.5 per cent of undrawn balance and 0.5 per cent for service charge.

     

     

  • Budget: Senate summons Okonjo-Iweala, Ngama

    Budget: Senate summons Okonjo-Iweala, Ngama

    The Senate on Thursday invited the Minister of Finance, Mrs. Ngozi Okonjo-Iweala and the Minister of State for Finance, Yerima Ngama over the implementation of the 2013 budget.

    Okonjo-Iweala and Ngama are to face members of the Senate Committee on Finance and Appropriation to disclose causes of falling revenue if any.

    The ministers are also expected to brief the lawmakers on the level of implementation of the 2013 budget including releases made to ministries, department and agencies of the federal government.

    The decision to invite the ministers followed a motion sponsored by Senator Abdul Ningi (Bauchi Central) and 13 others entitled: “2013 budget and alleged over bloated revenue estimates.”

    Ningi had on Wednesday drew the attention of the Senate to alleged statement credited to Ngama that “the National Assembly over bloated the 2013 budget making it unimplementable.”

    Ngama had since disowned the alleged statement, saying that he never made such pronouncement.

    Senate President, David Mark, said that Ngama wrote him, denying ever saying that the National Assembly over bloated the 2013 budget.

    In the motion, Ningi noted that the National Assembly passed the 2013 Appropriation Bill on December 20, 2012 and assented to by President Goodluck Jonathan on February 15 this year.

     

     

  • Nothing wrong in states borrowing funds – Minister

    Nothing wrong in states borrowing funds – Minister

    The Minister of State for Finance, Dr. Yerima Ngama, said on Wednesday that there was nothing wrong with states borrowing funds as long as they would be used for developmental purposes.

    Ngama said this at a two-day National Council for Economic Development (NACOFED) conference in Minna.

    According to the minister, there are different kinds of loans which can be financially, economically, socially and politically viable.

    “If you have a chance to get resources from development partners who are there to help us, we should do so as long as you have a clear vision that is socially viable, while taking your time to repay.

    “So, any government that beats its chest to say that it is not borrowing, it is not right because borrowing is good; it facilitates you to do what you cannot do with your resources.

    “That is why it is called leverage. So by borrowing, you are leveraging yourself, though there are some borrowing that are frowned at,’’ the News Agency of Nigeria quoted the minister as saying at the conference.

    Citing an instance, he said if a state government raised bond domestically to undertake projects that were not financially viable and it paid about 18 to 19 per cent interest, “what you are going to use the money for cannot pay for itself.

    “This is what we are trying to discourage that type of borrowing.’’

    He urged other states to emulate Gombe State where the government, instead of borrowing directly, stood in as a guarantor for small and medium entrepreneurs to benefit from loans.

    “Gombe State got N1 billion from Bank of Industries and these funds were shared to small and medium entrepreneurs in the state based on the government’s guarantee.

    “And these entrepreneurs have done a lot with the funds, going into yoghurt production and so on, so if you do not want to borrow directly, you can develop the private sector.

    “Then give the guaranty to the loan as a government so that when they grow and produce, you can now come and tax them,’’ he added.

     

     

  • A borrowing country

    A borrowing country

    •Minister Ngama’s advocacy for more loans calls for a jamboree we cannot afford

    Despite the avalanche of reproof against the country’s mounting debt profile, the Federal Government still believes that taking more loans is in the nation’s interest. The Federal Executive Council (FEC) at its recent meeting presided over by President Goodluck Jonathan declared that the nation is under-borrowed: and that the decision to go for more loans is irrevocable.

    Dr. Yerima Ngama, Minister of State for Finance and FEC spokesman, after the meeting reportedly declared: “We should borrow more, considering our economic activities. There is no problem with the level of our debt. The problem is the domestic debt. Interest rates are too high. Yes, we must continue to borrow. It is only poor people that do not borrow….you can borrow once you are credit worthy. America is the most indebted country in the world. Borrowing is good. The more money you have, the more money you need. There is nothing like satisfaction. If we are not oil rich, nobody will lend to us. We are borrowing because we have many projects.”

    We are astonished that such a high government official could publicly describe the collective decision of this administration’s highest policy formulating body on the salient debt question in such theatrical manner. It is outrageous to know that this administration thinks that the country’s domestic debt, reportedly put at N6 trillion, is not considered high despite the escalating cost of servicing it. We see nothing wrong in borrowing but we doubt if the country has the discipline and focus necessary for the deployment of borrowed money for purposes that would serve the interest of the people.

    Already, the government is making alibi to cover up its ineptitude in this regard. The FEC played the neo-colonial game when it listed as a major factor leading to increased domestic debt the 2010 wage increase to civil servants. The FEC also revealed that domestic borrowing, in order to meet government salary obligation to workers has increased to N 3.6 trillion. More appalling is the servicing of such debts with N699 billion in 2012 alone. Unfortunately, much of these debts in reality were used to service the comfort and greed of appointed and elected public officials through dubious allowances and other unwarranted payments.

    Nigeria’s reserve of above $53 billion comprises a foreign reserve of $45 billion; excess crude of $7 billion and Sovereign Wealth Fund (SWF) of $1 billion. With this huge foreign reserve, it is quite clear that the country does not need any domestic or foreign loan. A situation where the nation saves money in banks abroad at two per cent interest and borrows locally at 15 percent interest is bereft of any economic sense. Whose interests are the decision makers protecting – their parochial pursuits or that of the nation?

    In 2006, Ngozi Okonjo-Iweala, then finance minister erroneously goaded the country into paying $12.4 billion, being questionable debts owed the Paris and London Clubs by past administrations. The motive was to get the country out of her then debt trap. Surprisingly, in 2013, under a different administration, Okonjo-Iweala, current finance minister and coordinator of the economy, in a manner that contradicted her earlier position, is at the forefront of moves to obtain more loans for the country. Unfortunately, over 80 percent of projects upon which the repaid loans were expended failed.

    Another jamboree under the guise of borrowing is going on at a time when the nation’s current foreign debt profile stands at a high $5billion dollars. There is no need to further plunge the country into endemic debt trap when already collected loans have not served the essence of generating income and employment because the economy is shrinking rapidly.

    We deprecate the insatiable official urge to obtain new loans that will overburden future generations. The situation becomes detestable considering the fact that previous loans were not committed to any meaningful infrastructural development in the country.