Governor Otti clears N90bn of inherited N191bn debt without borrowing
Abia State Governor, His Excellency Alex Otti revealed that his administration inherited a debt of N191.2 billion from the previous government in May 2023. Regardless, Otti shared that his administration has paid back nearly N90 billion without borrowing. He defended his government’s spending against criticism, highlighting ongoing achievements of his administration like road construction, healthcare improvements, and timely payment of pensions and wages. Otti urged critics, especially those abroad, to understand the challenges of governing with inherited debts and affirmed his commitment to responsible fiscal management without seeking new loans. Read more
Athena Commentary: Governor Alex Otti’s approach in handling the inherited debt without borrowing demonstrates a commendable commitment to fiscal responsibility, a strategy seen in better-managed economies globally. In countries like Germany or Singapore, governments prioritize budget discipline, infrastructure investment, and welfare without excessive debt reliance, fostering sustainable growth. By addressing legacy debts, paying wages, and improving public services, Otti’s administration aims to establish a foundation of trust, critical for economic stability. In more developed countries, greater transparency and independent auditing are used to ensure accountability, a practice that could further reinforce the governor’s debt management approach in Abia State.
Nigeria to host first-ever International Air Show in 2025
Nigeria will host its first-ever International Air Show in Lagos in early 2025, as announced by the Minister of Aviation and Aerospace Development. Organized in partnership with the private sector, the event aims to attract global investors and boost local tourism, positioning Nigeria among major cities like London and Dubai that host such prestigious events. Minister Festus Keyamo emphasized that this air show marks a “landmark achievement” for Nigeria’s aviation sector, helping it become more globally competitive. The event will support the African Continental Free Trade Area and feature over 150 international aviation companies. Read more
Athena Commentary: This landmark International Air Show in Lagos, scheduled for early 2025, reflects Nigeria’s ambition to elevate its aviation sector on a global scale. Announced by the Minister of Aviation, Festus Keyamo, this event will not only draw international investors but also enhance tourism, showcasing Nigeria’s potential alongside global cities like London and Dubai. With collaboration from the private sector, the show aims to strengthen the African Continental Free Trade Area and promote the Single African Air Transport Market. Over 150 global aviation companies are expected, underscoring Nigeria’s commitment to advancing its role in Africa’s aviation landscape.
Repair works responsible for Thursday’s national grid collapse — TCN
The Transmission Company of Nigeria (TCN) reported that ongoing repair work caused the national grid collapse on Thursday, November 7, 2024. The incident, which occurred at 11:29 a.m., was triggered by a frequency spike from 50.33Hz to 51.44Hz, resulting from issues at a TCN substation. Restoration began immediately, but power was still out in many areas. TCN’s repair efforts include upgrades to critical transmission lines and substations, aiming to address weaknesses identified in a recent investigative report. While improvements are underway, TCN acknowledges the likelihood of continued disruptions and requests public patience during this period. Read more
Athena Commentary: In countries with stable power infrastructure, grid collapses are rare due to robust maintenance, advanced monitoring, and quick-response systems. For instance, the U.S. and many European nations have layered safeguards, decentralized power sources, and automated grid management to prevent widespread outages. In contrast, Nigeria’s national grid suffers frequent breakdowns partly due to aging infrastructure, insufficient investment, and slow response systems. Addressing this would require dedicated investments in modernizing equipment, adopting real-time monitoring technologies, and diversifying power sources to ensure resilience. These measures would support stable power, which is essential for economic growth and the quality of life.
SGF cautions new ministers against ethnic, personal interests
Secretary to the Government of the Federation (SGF), George Akume, advised newly appointed Nigerian ministers to prioritize national interests over personal or ethnic agendas. This guidance follows a cabinet reshuffle by President Bola Tinubu, introducing new ministers across key sectors like Labour, Livestock Development, Housing, and Foreign Affairs. Akume emphasized that these ministers must drive the government’s goals, including poverty reduction, economic diversification, and improved infrastructure. At a two-day retreat, ministers were trained to align with Tinubu’s “renewed hope” agenda. The session included practical strategies to help them understand their roles and responsibilities effectively. Read more
Athena Commentary: The countries with well-established governance systems, ministers are typically selected based on proven expertise, public service experience, and ethical commitment, minimizing personal or ethnic biases in leadership. This approach fosters a sense of unity and accountability, as ministers are aligned with a clear, common vision rather than personal interests. In contrast, Nigeria’s SGF urging ministers to avoid self-serving agendas highlights ongoing challenges with political alignment and public trust. For Nigeria to strengthen its administration, consistent merit-based selection and impartiality in decision-making—common in more developed nations—could be valuable models to boost national progress and inspire public confidence.
Compiled by
Ebube Chukwukaeme