In a very busy week, filled with stories on politics, economy and security, the Nigerian media focused attention on the impeachment threat by the Nigerian House of Representatives on President Umaru Yar’Adua and the government bailout options for ‘dying’ Nigerian companies.
“FG recorded N17 billion budget deficit in June – As Reps threaten to impeach Yar’Adua,” and “Why Reps want to impeach Yar’Adua”, were the headlines of the NIGERIAN TRIBUNE early in the week and SATURDAY TRIBUNE respectively.
The NIGERIAN TRIBUNE reported that the government recorded a budget deficit of N 17.394 billion in June 2009, quoting the Federation Accounts Allocation Committee (FAAC).
In view of this development, the House of Representatives, Tuesday, threatened to commence a process of impeachment against Yar’Adua if he failed to implement the 2009 budget fully as passed by the National Assembly and signed into law by him.
According to SATURDAY TRIBUNE, indications are rife that members’ desire to impeach the President over the poor implementation of the budget was swelling among their ranks.
It said that during the week, angry legislators were indeed waiting for debate on reports commissioned by the house on the performance level of the 2009 budget to demonstrate their seriousness on the impeachment threat.
After all, a number of projects must have been delayed if not abandoned in view of the budget lapse, they said.
According to the legislators, “There is no water, there is no security and there is no light. No food, no hospitals and health workers are on strike, ASUU is on strike for the non-payment of their arrears and salaries, but the President is, instead, calling on us to go and wine and dine with him. This House should reject that and call on the President to go and implement the budget as passed.”
The SUN newspaper headlined the same story “Budget non-implementation: Reps threaten to impeach Yar’Adua” and reported that the stage was set for possible confr o ntation between the government of President Yar’Adua and the House of Representatives as members Tuesday spat fire, threatening to rekindle the flame of impeachme nt over his failure to fully implement the 2009 budget.
According to the paper, the House agreed, after accepting the report of its Appr opriation and Finance Committees on the implementation of the 2009 Budget, that it would invoke its constitutional powers against the President.
Writing under the headline: “Budget: House Threatens to Impeach Yar’Adua”, THISDAY newspaper reported that the long-standing row between the Presidency and the House of Representatives hit a crescendo Tuesday as the lawmakers threatened to commence impeachment process against Yar’Adua over his alleged poor and selective implementation of the 2009 Appropriation Act.
The lawmakers said the budget, as assented to by Yar’Adua, remained an Act of Parliament and not a mere document that should be subjected to the whims and caprices of the President.
Also on the impeachment story, the DAILY TRUST reported that for the first time in his 25 months in office, an impeachment threat stared Yar’adua in the face Tuesday when the House of Representatives asked him to fully implement the 2009 Budget law or it will “invoke its constitutional powers against” him.
On government’s intervention fund for ‘dying’ industries, the DAILY INDEPENDENT, reporting under the headline “FG Plans N500b Intervention Fund For Industries”, reported that the bailout option is coming after more than 144 textile firms have shut down operations across the country.
The proposed N500 billion stimuli is aside another N100 billion intervention fund being packaged by government.
According to the paper, government also disclosed that the initial N70 billion intervention fund proposed by the administration of former President Olusegun Oba s anjo never existed.
“FG Proposes N500bn Bailout for Manufacturers”, was how THISDAY saw the story on the government intervention plan for floundering industries across the country.
It reported that the Federal Government had proposed the injection of N500 billion into the manufacturing sector of the national economy in order to revive it, just as it has increased the bailout package for the textile industry from N70 billion to N100 billion.
Minister of Commerce and Industry, Chief Achike Udenwa, announced the package when he appeared before the Joint Senate Committee on Industries and Agriculture public hearing on the collapse of the textile industry in the country.
The GUARDIAN newspaper, screaming: “Govt. plans N500b stimulus for industry”, reported that details of the reforms in two critical sectors – industrial and the oil gas – were unveiled by senior officials of the Federal Government at different fora in Abuja during the week.
At a public hearing convened by the Senate Committee on Industries on the “Collapse of the Nigerian Textile Industries” in Abuja, Udenwa said besides the N500 billion strategic fund, another N100 billion was being sourced by the government to revamp the distressed textiles’ industry.
His petroleum resources counterpart, Dr. Rilwan Lukman, said henceforth, all oil revenues accruing to the government would become public information accessible by all Nigerians and stakeholders to remove confidentiality from the nation’s “oil business.”
On the ongoing strike by university teachers, the DAILY TRUST reported that the House of Representatives will soon probe the Minister of Education, Dr. Sam Egwu, who allegedly went partying and spent N120 million of his ministry’s funds for his birthday celebration while the campuses were deserted.
It said the legislators would beam their searchlight on some heads of tertiary institutions under the Federal Ministry of Education who participated in the celebration.
The motion to probe the minister, sponsored by Rep Halims Agoda (PDP, Delta State), has already been filed with the House Committee on Rules and Business.
The motion has three prayers: “a mandate for the House Committee on Education, in exercise of its responsibility, to thoroughly enquire into the sources of the stupendous N120 million reportedly lavished by the minister to celebrate.
Similarly, the motion demands that the minister tenders an immediate, unconditional apology to Nigerian university students and their parents for conducting himself in a manner suggestive of contemptuous regards for their current plight.