AMILOADED MEDIA HUB NEWS UPDATE
An Osun-based civil society organization, The Osun Masterminds, has accused Governor Adeleke’s administration of misusing the rising revenue allocated to the Osun Government from the Federal Government
In a press conference held on Saturday, September 28, 2024, in Osogbo, The Osun Masterminds’ Executive Director, Prof. Wasiu Oyedokun-Alli, revealed that the group has raised concerns about the substantial funding being allocated to the House of Assembly without clear justification.
The group said, “We remain well informed about the rising revenue accruing to the Osun State Government from the coffers of the Federal Government. However, we are saddened by the fact that rising revenue has not translated to overall human and infrastructural development. Instead, it has led to Executive recklessness and irresponsible spending.
“Some months ago, we raised questions about the quantum of funding being pumped into the House of Assembly, for no clear reason. In 2024 alone, the Osun State House of Assembly has spent close to two billion Naira, according to the Budget Performance Reports of the Osun State Government itself.
“Yet, the renovation of the House of Assembly Quarters that was commenced more than six months ago, has been abandoned. The Quarters, with their roofs now open to the elements, have been abandoned for more than three months. While the contract for the renovation was itself shrouded in secrecy, abandoning the project, while huge sums continue to go into the coffers of the Assembly, suggests profligacy and raises questions about the fiscal transparency of the Adeleke government.
“Aside from the Assembly Quarters, the gate house reconstruction at the same House of Assembly complex, has been abandoned for about the same period. Yet, money continues to flow into the coffers of the Assembly in hundreds of millions.
“While several productive sectors of the State, including Agriculture, Tourism, and a host of others, continue to be under-funded, the House of Assembly is getting humongous sums for doing next to nothing, yet abandoning projects. This is the same House of Assembly where twenty-six (26) Members of the House received SUVs worth over fifty million Naira each!
“This is irresponsible and must be condemned by all and sundry. While the Federal Government is being pressured to implement the right policies, State Governments cannot continue to be irresponsible, expending billions of State Resources on frivolities that have no direct bearing on the well-being of the people.
“We must also put on record that we are keenly watching the approach with which the Osun State Government will implement the 70,000 Minimum wage. Civil Servants must not be shortchanged under any guise, after all of the hardship they currently face.
“It is also worthy of mention, the ongoing issues in the gold mining sector of the State. It is sad that the State Government has over the years, prioritized revenue over the proper management of the environment around the mining sites. It is also sad, that the State Government’s release, where it accused Segilola of several infractions, prioritized earnings over proper management of the environment.
“We are extremely bothered about the Environmental Degradation ongoing in Ijeshaland and the Osun State Government must immediately do something about this. The State Government must also immediately rein in big figures in the society, who are known to be involved in gold mining activities ongoing in Ijeshaland. We cannot continue to pay lip service to the correct management of our environment.”
Speaking on federal government policies that have brought untold hardship to Nigerians, TOM called on President Tinubu to end the flotation of the Naira and revert to CBN-guided pricing, free from corruption and sharp practices.
The group also condemned the manner in which the new minimum wage of N70,000 is being implemented, stating that federal civil servants received a flat rate of N40,000 added to their old salaries, while their tax figures have increased
According to the group, “When on May 29, 2023, President Bola Ahmed Tinubu boldly declared the removal of Fuel Subsidy, we held our breath. It was too early to speak, because we expected that his government would follow up with several proactive measures that will keep the possible implications in check.
“Part of the implications that we foresaw, was rising costs of commodities, due to rising costs of transportation, occasioned by rising costs of petrol. We expected that policies that would counteract these fall-outs would hastily be implemented, to protect Nigerians from the hardship we experience today.
“To make matters worse, the Federal Government, through the Central Bank of Nigeria, also decided to float the Naira, leaving it to the whims and caprices of market manipulators, speculators, and hawks. While a market-driven pricing of the Naira would be ideal, the peculiarities of our character as Nigerians, soon negated whatever possible good outcomes we could get.
“The Foreign Exchange rate dealt a huge blow on the common man, because Nigeria has remained as export dependent as it always was before the floating of the Naira. In fact, we dare say that Nigeria’s export dependence has worsened when we compare a 2.4% annual population growth, with a meagre 1.8% Agriculture value growth. This would simply mean that our numbers are increasing faster than our capacity to feed ourselves. This is a reality we are sure the Federal Government is aware of.
“Another fact that underscores the direct effect of the Foreign Exchange rate on the average Nigerian, is our heavy dependence on the warring States of Russia and Ukrain, for two major agricultural value chain inputs, that is Fertilizer, and Wheat.
“So, while we continue to depend more on the rest of the world to feed us, foreign exchange rates spiraled out of control with currency depreciation increasing import costs, while transportation costs locally, completed the pummeling of Nigerians and our economy.
“All facts and statistics point to the fact that Nigeria was not ready for both policies – fuel subsidy removal and Naira floatation. A World Bank study affirmed that complete removal of fuel subsidy (excluding kerosene) alone, increases economy-wide inflation by 3.4%! This clearly explains why our inflation figures continue to climb without any respite in sight.
“In a bid to curtail inflation however, the CBN has continued to increase interest rates, arriving at the current 27.25%. This, while it appears on paper like a workable way to control inflation, it also a sure way to discourage Private sector players. With our worsening rate of unemployment, a demoralized Private sector is a terrible thing to happen to us.
“In the light of all the above, we are calling on the Federal Government, under President Bola Tinubu, to immediately implement the following before things spiral out of control:
“End the floatation of the Naira and revert to a CBN-guided pricing that will be devoid of corruption and the sharp practices that characterized the CBN under Godwin Emefiele. Where 1 above is not possible, return subsidy on petrol and ensure transparency, until a time in the future, when we have put proper structures in place to manage the consequences of total removal. Put more resources into strategic subsidies for common Nigerians instead of sharing more money to the States, which end up financing the reckless lifestyle of many of the Governors.
“We also must condemn the manner of implementation of the 70,000 minimum wage. Federal Civil Servants are receiving a flat rate of 40,000 addition to their old salaries, while their tax figures have increased, in some cases completely swallowing the meagre addition. We believe that a minimum wage implementation should be according to a new salary table that will reflect relevant allowances. We believe the flat rate addition shortchanges Civil servants who are suffering the biting effects of the economic issues mentioned above.”
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