Chidi Tony| The PDP Governors’ Forum rose from their meeting in Uyo, Akwa Ibom State today berating the operations of NNPC and CBN describing them as unhealthy for the economy of the country.
They also raised an alarm over the rate at which the All Progressives Congress (APC) is borrowing money to fund projects in the country.
The meeting attended by 14 PDP governors deliberated on the deteriorating economic and security situation in the country, and worsening social and political tensions
In a communique made available to journalists, the Forum examined the operations of the Nigeria National Petroleum Corporation (NNPC), and expressed alarm at the opaque manner it carries out its operations.
They decried the recent NNPCs decision not to make its statutory contributions to the Federation Account, thereby starving the States and Local Governments and indeed Nigerians of funds needed for employment, development, and general wellbeing.
According to the communique, “The meeting emphasised that under the Constitution, the NNPC is duty bound to make proceeds of sale or business of Petroleum available to the Federation Account which belongs to the three tiers of government, excluding reasonable and verified and verifiable cost of operations.
“The Federal government through NNPC is a manager of our oil wealth merely as A TRUSTEE for all Nigerians.
The governors frowned at a situation where the NNPC decides in a totally discretionary and often whimsical manner, how much to spend, how to spend it, and how much to remit to the Federation Account, contrary to the letters and even the spirit of the 1999 Constitution.
They further called on other agencies of Government such as Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Communication Commission (NCC), Federal Inland Revenue Services, Customs and Excise, and similar organisations that are statutorily required to make contributions into the Federation Account, to do more.
“The federating States should, going forward now have a say in the determination of operating costs to ensure transparency and accountability” they emphasised.
They called for urgent steps to reverse these ugly trends in our practice of democracy, constitutionalism, and Federalism.
The PDP Governors also expressed deep concerns on the operational system and methods of the Central Bank of Nigeria (CBN).
According to them, ” We viewed with regrets that the CBN is operating as an independent government within a Government, which is a pervasion of the autonomy of the Bank. A situation where CBN creates money, decides how much of it to spend, on what to spend it on without any form of controls or supervision is patently subversive of our constitutional order. It has become not just a LEVIATHAN, but also a father Christmas of sorts, dabbling into every sphere and scope of governmental activity, not just as a lender of last resort, but as a full executing agency of government.
The meeting further observed that the CBN has become such an octopus that it threatens State governments publicly, without decorum, about sanctions on any attempt to question its MODUS OPERANDI.
“The CBN should take immediate steps to halt the depreciation of the Naira”.
The PDP Governors frowned at the rising and seemingly uncontrollable debt profile of Nigeria with over 80% of normal Appropriation spent on debt servicing.
They lamented “All the gains of the PDP Government under Chief Olusegun Obasanjo, where Nigeria exited its foreign debt obligations has been destroyed. Borrowing for frivolous items such as funding the Nigerian Television Authority is scandalous. Money should only be borrowed for productive purposes as Nigeria’s current debt of over N36 Trillion Naira is becoming clearly unsustainable relative to our earnings and GDP. We should not saddle incoming generations with undue debt burden. The borrowing spree of the APC administration if unchecked will certainly lead Nigeria into avoidable bankruptcy.
The Forum reiterated its call for the Revenue Mobilisation, Allocation, and Fiscal Commission to urgently send the revised Revenue Allocation Formular to Mr President for onward transmission to the National Assembly for enactment, such that more resources are made available to States and Local Governments where ordinary Nigerians reside.
They called on the Chairman and Members of the Commission to resign or be relieved of their duties, if they cannot discharge this sacred constitutional duty entrusted by the Nigerian people to it.
” The present constitutional amendment process should make the Commission more independent and accountable to all stakeholders” they demanded
In attendance were Rt. Hon. Aminu Waziri Tambuwal, Sokoto State Chairman, Gov. Okezie Ikpeazu Abia State, Vice ChairmanGov. Udom Emmanuel- Akwa Ibom State Gov. Sen. Douye Diri Bayelsa State Gov. Samuel Ortom Benue State, Gov. Dr. Ifeanyi Okowa Delta State, Gov. Ifeanyi Ugwuanyi Enugu State Gov. Nyesom Wike, Rivers State Gov. Engr. Oluseyi Abiodun Makinde Oyo State
Gov. Ahmadu Umaru Fintiri Adamawa state Gov. Godwin Obasaki Edo State
Gov. Bala Mohammed Bauchi State, Gov. Arc Darius Ishaku Taraba State, and Deputy Gov. Mahdi Mohd of Zamfara State
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