SATURDAY 14TH JANUARY 2023

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In Dialogue with Economic Summit Group, Tinubu Says Nothing Wrong with Endless Budget Deficits Bennett Oghifo The presidential candidate of the All Progressives Congress (APC), Bola Tinubu yesterday in Lagos

unfolded his comprehensive economic plan for the organised private sector before the Nigeria Economic Summit Group (NESG), and further defended the heavily

criticized endless budget deficits of the Buhari administration. Under Buhari’s APC federal government, the budget deficit rose from N2.41 trillion in 2016

to N11.34 trillion in 2023. But Tinubu disagreed with arguments that fiscal deficits by the federal government are inherently bad.

He said: “All governments, especially in this era of fiat currency, run on budget deficits. This is an inherent part of modern governance. The most powerful

and wealthiest governments run deficits, as do the poorest nations. “A budget deficit is not Continued on page 5

Obi, Kwankwaso, Yakubu to Speak at Chatham House...

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Saturday 14 January, 2023 Vol 27. No 10140

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NNPC Set for Drilling of First Oil Well in Nasarawa State Targets March, as Gov Sule, Abdullahi Adamu, Tanko Almakura, Emir of Lafia applaud development Emmanuel Addeh in Abuja and Peter Uzoho in Lagos Two months after the presidential flag off of oil drilling in the Kolmani oil well straddling Gombe

and Bauchi states, the Nigerian National Petroleum Company Limited (NNPC) announced yesterday that it would commence drilling for oil in Nasarawa State in continuation of its oil exploration

activities in the country’s inland basins. The NNPC said the ‘spudding’, which is the beginning of the process of drilling a well in the oil and gas industry, involves the

clearing of a surface hole, then lining it with casing and cement to protect groundwater. This, the NNPC said would start in March, this year. Chief Corporate

Communications Officer of the NNPC, Garba Muhammad, in a statement, noted that the Group Chief Executive Officer of the company, Mallam Mele Kyari, made the disclosure of

the Nasarawa drilling when the Governor of the State, Abdullahi Sule, led a delegation of prominent indigenes of the state on a courtesy Continued on page 5

S’Court Paves Way for Fresh Criminal Forfeiture Actions against Abacha Family FG can now recommence investigations into corruption allegations against family Alex Enumah in Abuja A five-man panel of the Supreme Court yesterday refused to grant a request by members of the family of the late General Sani Abacha, for the stoppage of fresh criminal forfeiture proceedings against the ex-Head of State and some members of his family. Abacha, who ruled Nigeria between 1993 and 1998, was accused alongside some members of his family of looting the nation’s treasury. Some of the loot starched in foreign countries such as the United States of America, United Kingdom were repatriated to the country and were deployed in various roads and rail projects by the President Muhammadu Buhari administration. Both Mohammed and Abba Abacha had in 2013, on behalf of themselves and other members of the Abacha family, approached the apex court to set aside the judgments of the Court of Appeal and a Federal High Court, which Continued on page 5

LATE ABBA KYARI’S DAUGHTER WEDS… L-R: National Security Adviser (NSA), retired Major General Babagana Monguno; President Muhammadu Buhari; Governor Badaru Abubakar of Jigawa State; Governor Babagana Zulum of Borno State and Senator Ibikunle Amosun at the wedding of the daughter of late Abba Kyari, who was Chief of Staff to Buhari, at the National Mosque, Abuja ...yesterday GODWIN OMOIGUI

Okowa Thanks Atiku, PDP Leaders for Vice-Presidential Ticket... Page 5


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