John Ebohon:
WE MUST remain focused and fact-based on this issue, so that we can meet the minimum litmus test of good citizenship, which is to root for what is Right but decry what is unprogressive. You started your response below by saying the following: “Either you have not read my posting or understood it. I only returned from Benin City only 6 weeks ago and if you want to appraise these developments and their impact and relevance to the growth of Edo State, it is an issue that I will not shy from and you will be surprised. I look at issues of this nature from a policy point of view other than politics.”” The next thing I was expecting from you is either you DISAGREE with the purported progress and developments ongoing in Benin City and elsewhere in Edo State that may require borrowing funds, or you correct any anomalies being peddled here in the performance of Gov Adams.
However, you did not say anything was wrong with the ongoing development and progress; rather, you JUMPED into something else about the revenue sources FOR THE state, asking: “What is the total annual Federal revenue advance to Edo State and how does this compare to the amount intended to be borrowed?” My candid question to you at this point is: What is the relationship between the visionary plans for development, some of which are ongoing as articulated previously, and the State revenue sources versus what is to be borrowed? Do you mean that societal developments should always be limited to the revenues expected excluding loans? My Brother, no civilized society does that; and there will be no developments or serious investments anywhere if societies, people and entrepreneurs limit themselves to cash at hand. You know that!
Then you vaulted into the fear-mongering by suggesting that if Gov Adams borrows funds to develop the State, it would arm-strap future Governments from running Edo State. You said, I quote: “The issue at discussion, which is going to the capital market to raise funds for development is more serious than you think. It can severely limit the capacity of future governments to function and what happens to the conventional source of development funds of growing the economy and deriving investment funds from the attendant tax revenue flows? Many people supported Igbinadion and Osunbor but who is suffering the consequences today?..................... I'm in favour of prudent borrowing.” You and I know that your point is a no-issue because essentially all Governments in VIRTUALLY every civilized nation borrows for the purpose of development. Besides, development is suppose to yield dividends, and so borrowing to invest in people and society has NEVER BEEN adjudged as a crime in any society!
As you can figure from the foregoing analysis of your statement, you are all over the place, chasing the no-issue and demagoguery of Dan Orbih’s petty politicking; you are not focusing on the relevant issue, which is the need for societal and people’s development or investments and our responsibility is to clamor for prudent and transparent management of available funds, borrowed, saved or earned! We cannot clamor for fear-mongering about visionary development of society, demagoguery or petty politicking. We owe it to our society to SUPPORT and root for a people-oriented and development-focused leadership, not listen to visionless, greedy, and caterwauling opportunists who had taken our people nowhere in the past. Take care. JUI
From: John Ebohon [mailto:ebohon@dmu.ac.uk]
Sent: Tuesday, September 28, 2010 2:02 PM
To: Igietseme, Joseph (CDC/OID/NCPDCID); edo-ciao@yahoogroups.com; NIgerianWorldForum@yahoogroups.com; NaijaPolitics@yahoogroups.com; edo-nationality@yahoogroups.com; naijaelections@yahoogroups.com
Cc: afenmai@yahoogroups.com; USA Africa Dialogue Series
Subject: RE: Don't Stone Oshiomole To Death NOW! Re: Edo's N30b bond: ACN tells PDP to sue
JUI,
Either you have not read my posting or understood it. I only returned from Benin City only 6 weeks ago and if you want to appraise these developments and their impact and relevance to the growth of Edo State, it is an issue that I will not shy from and you will be surprised. I look at issues of this nature from a policy point of view other than politics. What is the total annual Federal revenue advance to Edo State and how does this compare to the amount intended to be borrowed?
The issue at discussion, which is going to the capital market to raise funds for development is more serious than you think. It can severely limit the capacity of future governments to function and what happens to the conventional source of development funds of growing the economy and deriving investment funds from the attendant tax revenue flows? Many people supported Igbinadion and Osunbor but who is suffering the consequences today? Can you tell me how much Ali borrowed from the capital market to have had the profound effect of every nook and corners of Edo State, particularly when he governed from the opposition party to ruling government? In as much as we want to live it up today we must not forget the future. I'm in favour of prudent borrowing.
OJ
From: Igietseme, Joseph (CDC/OID/NCPDCID) [mailto:jbi8@cdc.gov]
Sent: Mon 27/09/2010 22:55
To: edo-ciao@yahoogroups.com; NIgerianWorldForum@yahoogroups.com; NaijaPolitics@yahoogroups.com; edo-nationality@yahoogroups.com; naijaelections@yahoogroups.com
Cc: afenmai@yahoogroups.com; USA Africa Dialogue Series; John Ebohon
Subject: RE: Don't Stone Oshiomole To Death NOW! Re: Edo's N30b bond: ACN tells PDP to sue
John Ebohon:
Let us make the EXTRA EFFORT TO DO THE FOLLOWING:
1. There is a RADICAL difference between the performance and transparency of Gov Adams and Lucky Iginedion; the records are ALREADY there for everybody to see; have you seen the Ring Road in Edo State Capital, Benin City lately? Have you seen New Lagos Road, inter-City roads in Edo and the new High Schools this Governor has built?
2. Gov Adams’ loans to move the State and people forward CANNOT be compared to the grand larceny and venality of former Governor Igbinedion. Gov Adams has presented, written and spoke about the developmental plans for the State that will require raising funds; except you believe that investment in the education sector is not wise; except you accept that major improvements in road networks to enable people to transport goods and people is not a judicious investment; except you agree that uplifting Benin City and the intra-city roads, so that free movement and transportation can flow in the State Capital will not yield reasonable returns; I can go on and on! This is PUBLIC INFORMATION!
3. Essentially every civilized nation, including the current ONLY SPER-POWER, USA, borrows to fund and accelerate developments; so the act of borrowing by a State is NO CRIME! As I said previously, Dan Orbih’s caterwauling would be attractive if he is seeking transparent accountability in the expenditure of the funds accruing from the bond sale in the capital market.
4. I am sure you realize that PDP is not philosophically or instinctively against borrowing and bond sale in the capital market; it may interest you to know that Gov OGD of Ogun State (A PDP Gov) is fighting with his legislators now because his PDP Govt wants to do what Gov Adams is doing now.
In the final analysis, it appears the whole hullaballoo is just petty POLITICKING that is not taking visionary leadership, progressive plans to develop society and prudent management of State resources into consideration. We owe it to our society to SUPPORT and root for a people-oriented and development-focused leadership, not listen to visionless, greedy, and caterwauling opportunists that had taken our people nowhere in the past. Take care. JUI
From: edo-ciao@yahoogroups.com [mailto:edo-ciao@yahoogroups.com] On Behalf Of John Ebohon
Sent: Monday, September 27, 2010 5:16 PM
To: edo-ciao@yahoogroups.com; edo-ciao@yahoogroups.com; NIgerianWorldForum@yahoogroups.com; NaijaPolitics@yahoogroups.com; edo-nationality@yahoogroups.com; naijaelections@yahoogroups.com
Cc: afenmai@yahoogroups.com; USA Africa Dialogue Series
Subject: RE: Edo-ciao RE: Don't Stone Oshiomole To Death NOW! Re: Edo's N30b bond: ACN tells PDP to sue
JUI,
Are you in support of the strategy to issue a N30 billion bond? What will be the ratio of Edo State GNP and interest on the principal sum. How will the interest be paid? I honestly think this is a bad road to further travel. I'm often irritated by constant reference to PDP hopelessness when in power for the simple reason that AC was swept into power to correct such excesses and not to repeat the saga in another shape and form. When Lucky was in power and decided to borrow from the capital market to dredge Ikpoba river, those who spoke out against were roundly condemned. None Benins were accused of pandering to ethnic jingoism while the Benins amongst the critic were accused of washing their dirty linen outside. When Osunbor did the same thing, his followers said just as much but the accumulated debt is an albatross round the neck of the present administration. To borrow these huge sums from the capital market in a country where interest rates are in double digits on the one hand, while on the other, in a supposedly civil service state with no sustainable revenue base is 'voodoo economics'. My brother JUI these amounts would have to be paid back and we can only look at past mistakes to correct or guard against future mistakes and not to allow past mistakes be a justification for future ones.
My brother, I beg of you that if at all in future you want to defend the action of the Governor do so with a robust and rational argument rather than the arguments you have tendered below that rather ridicules the Governor and his government. For example, I'm quite happy to accept if you had said that there is nothing wrong from the government borrowing from the capital market to invest in growth inducing infrastructure and services from which accrued revenue could pay the interest and the capital over the life-cycle of the project. Assuming the Governor comes out to say to the Edo people that he borrowing N30 billion for an independent electricity infrastructure and lay the plan open to the public, he would be held high and paraded round the city more. To say that they cannot be stopped from raising a N30 billion Bond by anyone without any indication for what the money will is to spent is not something to be celebrated.
My regards,
OJ
From: edo-ciao@yahoogroups.com on behalf of Igietseme, Joseph (CDC/OID/NCPDCID)
Sent: Mon 27/09/2010 16:27
To: edo-ciao@yahoogroups.com; NIgerianWorldForum@yahoogroups.com; NaijaPolitics@yahoogroups.com; edo-nationality@yahoogroups.com; naijaelections@yahoogroups.com
Cc: afenmai@yahoogroups.com; USA Africa Dialogue Series
Subject: Edo-ciao RE: Don't Stone Oshiomole To Death NOW! Re: Edo’s N30b bond: ACN tells PDP to sue
Brother eRG:
Please, advise the PDP Chairman Dan Orbih to QUIT the demagoguery and SUGGEST OTHER WAYS to source funds to develop the State; his party took Edo State and the people to the beggary low, both in development and wellbeing of the people; they were clueless on how to move society forward beyond using fake contract to loot State treasuries. Gov Adams is trying to do something about the State and the people, and his efforts are resonating everywhere in the country. It is obvious Gov Adams wants to do MORE, and he is seeking funds to accomplish for the State and people. Dan Orbih’s caterwauling would be attractive if he is seeking transparent accountability in the expenditure of the funds accruing from the bond sale in the capital market.
Orbih should Quit the DISTRACTIONS and mobilize Edos all over the world to buy the bonds and OWN MORE OF THE FUTURE OF EDO-LAND and interests in their families and foundations. Oyah Brother eRG, get to work to canvass for bond purchase to move Edo-land forward, not egg on the distractions Orbih is causing in the State. Take care. JUI
From: edo-ciao@yahoogroups.com [mailto:edo-ciao@yahoogroups.com] On Behalf Of eRG
Sent: Monday, September 27, 2010 10:54 AM
To: NIgerianWorldForum@yahoogroups.com; NaijaPolitics@yahoogroups.com; edo-nationality@yahoogroups.com; edo-ciao@yahoogroups.com; naijaelections@yahoogroups.com
Subject: Edo-ciao Stone Oshiomole To Death NOW! Re: Edo’s N30b bond: ACN tells PDP to sue
Heheheheheheh! Tory don wowo.
Country people:
Una see wetin the progressive AC(N) cabal are doing to my state that is already lying prostrated? Is this what the petty thief wants to turn Edo State into? I knew that curse by the Oba against kidnappers will become efficacious very soon, this is it guys, this is it.
This nonsense can NOT stand. I hereby call on every Edo son and daughter to stone this pick-pocket to death if possible.
eRG
"God gives, Man hoards and Satan steals" - eRG's Father
From: biodun.sowunmi <sowunmi@hotmail.com>
To: NIgerianWorldForum@yahoogroups.com
Sent: Mon, 27 September, 2010 11:01:20
Subject: [NIgerianWorldForum] Edo’s N30b bond: ACN tells PDP to sue
Edo's N30b bond: ACN tells PDP to sue
Osagie Otabor, Benin 27/09/2010 00:00:00
THE Action Congress of Nigeria (ACN) in Edo State has said the Peoples Democratic Party (PDP) cannot stop the Edo State government from securing a N30billion bond from the capital market.
The party said it is prepared to meet the PDP in court.
The state had, last week, sought the approval of the House of Assembly to secure the bond for development of facilities in the state.
PDP Chairman Dan Orbih said the party would use legal means to stop the ACN-led government from securing the bond.
His words: "We in the PDP are going to court to stop Oshiomhole from going to the capital market.
"It is our responsibility to rise up to the challenge of good government.
"We will not allow Oshiomhole to mortgage the state's future. Enough is enough."
ACN Chairman Tony Omoaghe, in a statement by his media assistant, Mr. Ebenezer Williams, said the bond would be used to make Edo State first among all states.
Omoaghe described Orbih's statement as a ruse and blackmail. He said the PDP had seen the development projects of the ACN administration in the state.
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visit: http://www.oredoonline.org
"AKUGBE O ETIN"
"They who have seen only a little vociferate about how much they have experienced, while they who have seen a great deal cannot even find the words to express what they have gone through"
- EWUARE OGIDIGAN (The great) Oba of Benin 1440 AD - 1473 AD
(A great Magician, Physician, Traveller and warrior; constructed Akpakpava street, created the Edaiken title, renamed the land Edo and the first Oba to come in contact with Europeans).
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