 All right, it's time for us to take a look at some of the headlines on some of the national deals this morning on the breakfast. We'll begin with the Daily Independent newspaper. And the Daily Independent newspaper is leading with Okonjo Iwela worried over rising burden of debt servicing. Nigeria's 91.6 trillionaire debt. Okonjo Iwela worried over rising burden of debt servicing. The riders there concerned it may eclipse with current expenditure investments. And the second rider advises incoming governors on private investment multilateral support. Ok, that's followed by US imposes visa ban on Nigerians who disrupted the 2023 elections. On the mass, people have inflation rises to highest in 17 years in April. The rider there lack of contemporary fiscal measures pushing inflation up and that's according to analysts. You have details of that partly on that page and on page seven of that newspaper. May 29 inauguration will defend democracy, keep internal security order, IGP. Now that's the much we'll take from the Daily Independent. Away from the Daily Independent, we'll move on next to the punch and newspaper. The main story this morning is on tinnable inauguration and the punch that leads us for some military IG one troublemakers as quote, here's anti handover case. And of course, Shilkuti is still in the news. There's a pictorial bear of him when he assaulted a policeman. And Shilkuti spends night in custody police plan arraignment that's on the punch newspaper. Above the massed head pay rise, a resident doctors begin warning strike Wednesday that's from tomorrow. United States denounters visa ban on Nigerian Polo Vegas and others as federal government suspend or spends that same trillion and subsidy sets removal guidelines. Not only would stars man as Murphy for lobby is buried, he does mass and cooking smashes world record grabs global attention. And the last one we'll take from the front page of the punch this morning. Good luck again commuters grown on Lagos, Ibadan Expressway. All right, from the punch newspaper, we go to the nation newspaper. And the nation newspaper leads with IG one's subversive elements against plot to derail May 29. The writer there, political actors conspiring to stop inauguration of president elect tinnable government. And then on top of that, you have life outside power is challenging Igminadio. So key tell outgoing governors details of that is on page five of the nation newspaper assault on inspector detained show cutie may undergo drug test details is on page seven and BS puts April inflation rate at 22.22%. Details of that is on page five. 13 trillion spent on subsidy in 16 years says federal government. The right of the tinnable to get guide from transition council. And then you have us, we've sanctioned those who undermine the elections. Part of that is on the headline and that you have the conclusion on page four. But that's the much to be taken from. From the nation newspaper. And the last paper we are reviewing for this morning is the Guardian. The main story is burning on certainty over $2.3 billion seaman's deal as great collapses 99th time on the Buhari or that's a sad one. Resident doctors declare five day warming strike United States slums visa ban on Nigerians who undermine 2023 election. Buhari law on hill hilda on world record feet. Government kicks against move to hold doctors migration. Buhari leaves inflation at highest in 17 years. What a way to caption that. Assaults cutie apologizes gives officer 12,000 Naira for vehicle repairs. Those are all the stories on the front page of the Guardian newspaper. Well we have now been joined by our analyst, our Tuesday analyst to take a look at some of these papers on off the press. All right, we have Chris came the one do member of the chartered Institute of arbitrators in the United Kingdom joining us this morning. Good morning to you, Chris. Good morning, thanks for having me. Chris, let's just go straight to we have so much, so much to talk about. I am just so excited this morning about some of the topics we have on the headlines. Let's begin with this advice, this worry raised and maybe I should call you concerned by Okonja Iwela over the rising burden of debt servicing. She made that she raised that concern yesterday. The burden on Nigerians has increased, Nigerians are worried. What do you make of that concern raised by the former finance minister? Yes, it's worried so much. This is something we've been talking about for months and years now. As of the last time I think about last year but the report from the central bank is that we're using $113 million to service debt every month in Nigeria. $113 million to service our debt every month and when you look at our updated debt it goes into the trillions. We forget that we also have good domestic foreign debt but it is more of the foreign debt that we are more concerned about. Another point was in particular about 18 to 85% of our revenue. I have to say that the problem now is infund natural servicing, servicing the interest and going from the banks. Some of the debts are spent over the past 5 years or 40 years so that maybe this government is living in the next two weeks and most of these debts were accumulated by this period because from reports when we had particularly about $2.7 billion, $2.7 trillion in debt, when a person goes, you don't forget that a person did not go to relief on Nigeria and our debts will have the forgiveness of whichever right of the critical pay of those debts. Between Yara Dua and Jonathan he grew to about $4 trillion. But within this government, this government they do, we have up to $4 trillion now we're hearing about it, something trillions. So that is how the level of indebtedness of Nigeria to most of the good I hear of. And this government continued to, even this last day, is about just last week, the government to do the national survey seeking to pick up a loan of about $800 million last week. A government that is particularly trying to try and we come to realize it and most of the finance continue to justify this borrowing. But the first let's put this straight, there's not a lot of any government borrowing. Most countries of the world, including the United States, borrow money from banks. But the difference between what they do and what we do is that when they use the earth for infrastructure they made with and also for critical sector of the economy, our only way we use the earth for what we don't understand and even in such money, the situation where you have an AGL and a Qatar general, that's $2 billion, over $100 billion, you know that we forgotten that case already, they say he returned for the $4 billion. That means we still have over $60 billion and that case has gone through. So it is not a corruption to be rather using the money for what is beneficial. That raises the question about the forces at the root you know of shaping this debt that we keep having. What are the forces, the root causes of these debts? Why do we keep borrowing? Are we using these monies for the supposed reasons why we claim to have borrowed them? That is what I'm saying because if you ask them what they use the money for, they say they have a root. I say that is the only problem in AGL. Yes, you have a root. What other money, what other music are you account for this and that is going to be a problem. I don't think this is coming up necessarily. Yes, you've also touched on the fact that we also have this internal debt states are also owing. One of the concerns and suggestions that Ngozi Okonjewela raised yesterday is that states should learn to diversify, they should learn to invest. Talk to us on that. I don't know if we know that state. But before we can also do that, we also have to take out our constitution because the way the constitution is presently, it does not give the state the leverage and the room to be able to manoeuvre some of the states. Most of the resources in this state stay tied to the exclusiveness which is controlled by the federal government. So if that can be opened up and the states can be able to tap on the resources material states just as it was in the first republic then add something back to federal government. So that is what Ngozi Okonjewela looked at simply saying that, yes, let us look at that constitution, the 1989 constitution as amended as it were and look at some of these things that are within the exclusive list so that we can open it up. It's already started doing that because if you look at the current some of the areas like electricity has been moved from the exclusive list. The correctional centres have been moved. The area of railways has also been moved. But the critical areas which is the mineral resources have not been stimulated because if you have government discovered goods and your backyard has it where the federal government will take over that lot of land and provide another one to you and it's the federal government that gives licenses for that so but if you allow the state to be able to do that there is no state in India that has no resources that it can be paid on and I can be able to survive. But the fact also says that our government has nothing they don't have any they don't think out of the box. They are not created in the earth because if they are then this issue of depending on how good you are every month creating a fast. So I want to talk about the IGR that the World Trade Organization mentioned as soon as you come to you know not several not many states in Nigeria can actually depend on themselves or what they can generate internally. For instance I know Lagos is one of the state that is like very focal when it comes to IGR and they can actually go without going cap in hands to the federal government each month at FAC to get the federal location. Some of the states that we know depends solely on the bulk of what they have is from the federal government. For those states what can they do in terms of IGR? How can they drive that? And besides you talked about the need to tinker with the constitution so they can actually have access to their resources but would you say that all states in Nigeria is less with the natural resources they can actually you know harness to get this IGR that we are talking about? Yes I have discovered that but let me also tell you somebody if you move from Lagos through to Shagamu or the name express way you will see an array of green land you will see an array of green land natural you don't need to fertilize that in most of the states invest in agriculture and agricultural processing plants you can be rest assured that they make so much money. Some states in the north like KB have very big facilities for a rice farming they can make so much money from rice while we are going up and the state correctly used to hear about abacile rice a country state can produce rice that the people of Nigeria can consume and even transport there are some states that are very good in palm. In most states in my states we used to produce a lot of palm oil. Palm oil is more expensive than petroleum but than good oil if they invest in that they will have so much export before we used to do number one in big one. Malaysia came in pick some of our nuts and bring it back and then start cultivating palm oil they are one of the largest exporters of palm oil so that is where I am going to talk about it. But in my states is the full basket of the federation they produce a lot of steam but that is just beyond that we are coming back with culture there are a lot of things especially we do not there are a lot of things that we do the issue of the security of the addressed why because people are no longer going to do because they are being killed by bandits they are being captured by heads and rest of them so it's a style everything is tied together now we are going to talk about this one a basket of a basket of small basket of tomatoes is now 70,000 yeah I thought it would be a good idea because I know she knows I want to buy tomatoes yesterday and I want to show you so what is this you are more aware to say ah tomatoes a basket is now yes you are telling me that it's just but to make us go for 5,000 so you can see that this issue of creativity can come into me one which is to address the disease you just have to be boiling on your own it's not only in this state that has support like labels it's not a state that has companies like labels it's not a state that can pay taxes but in the old days you know there used to be a time in the new state there used to be this I can't remember I don't know what I'm talking about now there are areas of if you are going towards the surface today when you see them on the left of the road you are barred from the rest of them so you just have to realize that some of this state can invest on no wonder what they do they collect this money they collect not only for the state they also collect that of look back but they can share it among themselves and all they do is pay salaries and at the end of the day they don't even pay all the salaries that is it that is it that is it okay let's move on to the next headline which is on the punch newspaper where um Tinnubu's inauguration military IG want troublemakers as caught here's anti handover case you know some residents of Agucha have gone to seek that um they've got to ask some questions regarding regarding the the swearing of the president elect uh saying that they have a say they should have a say as to who leads them that whoever is coming in should at least have 25 percent of their vote what do you make of this a story as of today the swearing is the only person or any unit that can stop that show me is the court as it were the tribunals as it were now the tribunals are sitting everybody has everything against that that result we go to the tribunals to iron the case those that are going to court also go to court but the fact remains that on the tribunals or the courts you know there's some of the tribunals you want to be known as courts uh election tradition courts and they don't want to be known as tribunals so it is only those tribunals or the court that can be determined is it that as of today as I swear um a new president will be sworn in on the 29th may because the courts the tribunals and courts have 180 days to be able to dispose of these cases and it is it is not possible and I'm I'm saying it um as a graduate of that it's primarily impossible to be able to do this within within this period that within these two weeks that the president will be sworn in so he'll be sworn in whether he will remain there after he's sworn will not become uh will be determined by the courts or the tribunals it were and then governors also we have about 22 governors new governors that are sworn in on the 29th of May so I've always come fast as I've always said but it's another problem that appear that our best way the best way to do is to make sure that we put the Kenyan and Uganda where we are the president-elect or the president-elect after the election the issue of the cases must be dealt with or should be dealt with before the president-elect is sworn in so that all this issue arising participation that best of then can be dealt with before uh before the sworn in we can move we can shift the election a bit backwards to make sure that we elect a president probably six months before sworn in so that the courts can have enough time to take through these cases and decide on that so that when you're entering the office you just need that there won't be any level of distraction in the past before the uh letter at there were instances in fact there was a particular instance where the presidential election petition ran for almost three and half years three and half years before it was finally decided at the supreme court that have been shortened by the new election which has pegged it to 180 days but as of today I still tell you that we agree the the president elected this one on May 29th yeah it's interesting you said that perhaps six months before swearing in because some uh some people have said that look when you compare Kenya and Nigeria we're not the same size we're not of the same size so what may have worked for them may not necessarily work here but it's interesting that you have said at least six months that should give us time enough time despite yeah yes that's why I say six months yes um Kenya is smaller um than Nigeria may have also seen much more give ourselves about six months look at the United States uh maybe I think the election comes at an November and the president gets one in I think January after quite they have also a a a a live nine of about three months we can still do here so if you put it to about six months before the presidential election with the election and give a time frame for all the issues arising from that election to be said then it will be able to then also the issue of this uh go to court go to court that has become part of our system will be eliminated because if you know that I'm good to court before you are swearing then you will be able to behave yourself because one of the things that they get this election will get into office and use this to make up office to be able to fight their cause they will use this to make up office in financially because they have they have their hands on the teeth and have their hands on the on the money of the state if some of them are going to use their own personal money this issue of go to court go to court will be minimized so that is why I said let us also take care of with this electoral attitude so that we can have though is it instructive Chris would you say this go to court go to court narrative we'll just really get into have it in this uh dispensation in this electoral process because before now you the courts we are not a place where people want to go to you know and but then this 2020 elections you just hearing this narrative go to court go to court go to court what do you think is responsible for that no this is not it is not because that they've always said it has it has but really that is not more pronounced yes it's not more pronounced we know that President Buhari for instance went to court in his time we also know that Chris yes you know that Buhari went to court three four times and he failed in fact he has to start crying nationally mission that he will not come to this day we forgot so there's practically no relation since 1999 that Buhari participated in that thing which caught articles have also been caught for all the times that he has participated in but the fact is that it is the because of the fathers people believe that they will not be able to get get justice in court um and that is why everybody say go to court I had you know that saying that that's a local palace that where you see somebody say go to court nine brother in probably nine be judged but that is that is neither you're not here that is only with but it is I always say that it is one opportunity that after millions of millions of two judges who just sit down and and non-annibation millions of ideas and determine the fate of ideas that it is not a good when the electoral process is transparent enough for everybody people feel that they must surely you saw what I've been doing with him and he accepted the result that is very problems all right I just hope that someday soon we'll actually move away from the courts the side and the outcome of um outcomes of elections for us in Nigeria I just hope we could just go to pose and uh without the elections being rigged and mad with irregularities and the clear winner will be given to us without the need for redresses here and there but let's just move on for sake of time I'm Chris another story is still related to the election matters that is making front page across some several papers is that the United States announcing a visa ban on Nigerian pool rigors and others let's share your thoughts and Chris just how far would that go in actually what I say in Mending uh are rigged election electoral process as it is yes before I go to that I'll be five or better no he cares about this because let me quickly tip in and congratulate Hilda um on associate the world record that she does just live up to Nigeria 100 hours of cooking uh just um I think we're there to get that rice and think I um a lot of people had a taste of it and so I congratulate her and I hope that the the Guinness people record we attified that as quickly as possible otherwise when we have that of coffee and dancing competition we need to empower that that would pass as quickly as possible now to the issue of um the the star band yes we have agreed that I totally accept that that but the question we go to actually say we do stop our politicians from doing what they do I mean in a nation you know we can't you can stop a lot for a long time please stop it please the name and shape just don't tell me that you have a certain people I know that you're using that policies to keep you know it's that if you tell us the most of Nigeria's that we are being that this is just a ban it will stop a lot of them from doing what they are doing uh this is the first time with the United States doing that and they never tell you the process and so let's take example in Russia United States such as certain individuals involved with the ukrainian war they mentioned their names their names were mentioned and also they are said that account will be frozen and some of them were also insured this time so if you are doing that we start the other country we'll stop for you from telling us who are those that participated in the election who were in the election who were in the process uh uh uh rigged this uh 2023 election let us know them so that we shame them so that the others that who want to try it in 2027 may not that a say will be that then all this is just a for me is uh at least today you can continue to need to know them let's say the United States if you don't do if you plan there from where you are so you might take it so you go to France so I'm going to get them in hand Dubai is still there is still there I have to go there so they stopping them from going to america not so far all right let's go to uh another headline on the punch newspaper the doctors are warning that they will go and strike Chris we talked about this about two weeks ago yes we did yes we talked about it and for now they've given another warning they'll be going on strike tomorrow you know we discussed that for me say that after that is that it was just today's money strike now they're going for a part of me and after that you're going to have total uh strike but let me also shock you that the research shows that within five years 75,000 losses and we have moved out of Nigeria that is the latest but 75,000 75,000 that is alarming it is that that you are talking about an upgrade of about 12,500 over 12,000 moving out of the country on a yearly basis that you now ask yourself what is the strength of our of our health that's how many how many of them do you have left yes there are many many many doctors have issued a strike you know we are talking about the issue of increment in salaries of certain categories of federal workers and the doctors were screwed up yes so this will be a part also part of it and I hope that the government to uh hand with his best I doubt what the government can do this government have barely to this to go and I personally will just add the to the doctors to shape whatever strike they have and wait until the new government comes in in two weeks time they can go into negotiation with them if this government have to is there you can move to impact best in backing our strike two is just before the this government is just at the at the it's at the gates they are the gates at the gates it's just the fact alone and whatever they are going to so that we don't have the same classes we have with us you know the problem with asshole that has to have with this government was not negotiated under this government it was negotiated under the good Lord Jonathan government and they brought it forward and this government is the oh we are not the one that negotiated this yes we know that government is a continuum but there's limits to what we can do so let the doctors I will appeal to the doctors watching us to please shape this strike and just give this we coming from me some kind of a statement that they they can move forward their grievances they're tied to that is the federal government just came out yesterday to say that it is against the bill being sponsored by national assembly to stop doctors from moving out of the country after graduation the minister of labor came out with that statement yesterday and I hope that it's what is going to be as I said before we cannot force anybody from moving stop anybody from moving out of the country that is the bridge office on fundamental human rights as a manager as a strength in the 99th position of the federal public of media as an entity yeah so we hope that they would listen and not go and destroy because at the end of the day it is the masses that actually suffers all of this not even the government first of all the government as you've said on their way out this particular administration so not much may be done if at all anything and then at the end of the day if they do not do anything about it then it would have been more or less an exercise in fertility where only the masses have suffered for nothing all right so we'll slide on next to the nation Chris lots of wonderful stories there but let's talk about the subsidy amount spent of subsidy in 16 years 13 trillion spent on subsidy in 16 years that's what the federal government is seeing and this year we were told that subsidy was supposed to be removed and next month and it was suspended now there's an incoming administration so far the country has spent this amount what do you think the incoming administration should be doing concerning this issue of subsidy removal the subsidy is the big elephant in the room very very big elephant in the room so and it's just like an elephant in a glass shop we just have to be able to know how to guide it at all the shop or else we destroy everything the shop my personal opinion is that yes some subsidy should be removed there should be a gradual remover the way our government wants to go about it once we like be very it's something we cannot we can't we cannot do it we should do away with completely I totally feel that something because it's not that because of the father benefit because of the level of corruption associated with subsidy that is the problem now initially we started with the states and say that the states are not happening enough you know if you remove subsidy migrants will have the state will have enough idea at a disposal to and then we would to provide necessary amenities doctors are going on strike because we don't have money that is also part of it so I would rather I would advise the incoming government yes the incoming president well I meant you know we state the category currently doing his campaign that he will remove subsidy even I think he even said from day one but I don't think we should be able to get that once we because the resource it is like that every other tool affected are going to buy for at the point where they say they said about 600 or 7900 per liter that would affect everything in Nigeria including food and even then services so transportation limit I would I look forward to a gradual remover but maybe to remove totally we have to revive all our refineries make sure that we're finding at full capacity and big new ones if you're going to do that what we're spending so much in imported fuel is going to reduce if we're able to revive our refineries what are the where the country the only country in the world as I said that produces good oil and at the end of it all import Trump but most other countries don't do that then totally to that is that come to the second of May this the ever-expected dangote refinery the biggest refinery in the whole of Africa is going to come on steam and that also is going to affect our importation of petroleum products so we're going to have refined products in Nigeria and that also be able to help out in this so much so much foreign exchange I've explained in importing petroleum products and that review whether that is going to solve the problem is not because I still believe that if dangote is the refinery that is refining petroleum in the country then we are going to have monopoly and we are going to be at the back of back and call off um like in dangote but whenever I decide I want to crisis we all will pay just as we have seen some level of monopoly certain sectors where dangote has the uh in monopoly but the final decision is for us by the refineries it's got me um promise reviving refineries and building new one in the whole of 20 from 2015 to date eight years not a single refinery was required despite the billions and billions of mirror that we voted for for the refineries to revive and that is where I think that yes I've said that is where yes it should be focusing this attention this billions and billions uh yes I know that their focus is now on those are the smaller boys they are huge that yes those are the smaller boys somebody is over 1000 and you are parading and going around and shouting that billions and billions that yes it should be focusing on that is where the new monies yes Chris you know you know I read a report by uh OPEC that Nigeria produces NNPC produces just eight percent of the oil we use that is so you can imagine we have four refineries and NNPCs only are accountable for eight percent of the oil we use in the country. EFCC focuses its attention on NNPC though in the next one year we will be able to finish job with the level of erosion in that even in the even in the power sector go and see how much we expanded to get power that's not the fact that we've uh listed the subsidies being given there you have come to look at in various organizations I have told you of an instance of a particular a one particular AGF stoned over allegedly to over 100 billion one minister that was ministers dollar yes minister of the last uh one of the ministers s ministers under this government has just arrested for stealing allegedly sleep 22 billion let me give a you are not let me just put this with this mask if you have one billion in your account and you start spending 50 naira 50,000 naira on a daily basis in the next 15 years you will not be able to finish one billion 200 a mass one billion 50,000 every day that is where somebody stole over 100 billion one you can see that these guys are just they're just crazy they're sorry for the use of word you know so those are barriers I expect the efc to focus on and even icpc that practically has gone to sleep and that is why I also feel that most of these agencies should be matched and that is what the next government should be looking at I don't see the what icpc is doing that uh efc they can be able to mine them and increase their portfolio and have enough personas to be able to carry out the job I don't know what icpc is we are spending money on icpc spending money on efc whether at the end of it we're not getting this result this is coming to me to look at the recommendation of the also here I partner if you remember that partner he came out with the reorganization of ministries and prostitutes that issue must be looked into by the incumbent government and implemented as quickly as possible all right Chris before you go talk to us about what you think concerning shenokuti's crisis if I were to if I can put it at that you know you saw all that's played out it's on the headlines um he submitted himself at the police station we saw him in handcuffs yesterday um what do you make of all of that his attack on the police man all those all that we saw playing out over the weekend when I know you asked that question I know you asked and I know you because you don't my pet uh over five years over five years I was the artist and promotions manager of one of biggest Nigerian music company sonny music Nigeria in the 90s and at the point I was managing over 15 Nigerian artists shenokuti asked my pet for share um so a lot of benign named them um so many of them and I know the I need my set of artists but what she did what she is in a student who is this is going beyond an explanation and to have even come out while we are trying to see whether uh we can be forgiven for what they say he cannot have been okay but why is he has said that he has been slapping this man he told me Nigeria that he can do that can show him to the United States and slap his police man in the UK on the United States he of course now police men have been killing shooting people in the US especially blacks for no just reason we forgot it in black life matters that was he there was a black man that was killed in the US and the guy didn't do anything so it because of the level of infinity here that we that they can get to meet and that is why they're doing what I think the full weight of the law should be uh visited on him so that he can learn his lesson um it should be the energy he used and decided due course not this unnecessary distraction if you put it into his music I'm sure he can live thank you yes I also want to appeal to Nigerians that um we have so many of his students that have been very showed um he has been very very good ambassador of this country even so and he has been very very well and so if you do just use the uh in sharing um attitude to be able to rubbish that legend thank you thank you so much Chris for your time it's always a pleasure to listen to you analyze these headlines especially on Tuesday when we have you thank you so much for your time thank you very much for having me and do have a wonderful day you too Chris Kende Wando is a member of the chartered institute of arbitrators in the UK and he's joined us this Tuesday on off the press to take a look at the headlines on some of the national dailies we'll be right back in a moment to go into our very first hot topic and do not forget we have Mazi Sam or Huawei taking a look at the burden of Nigeria's debt on the citizens this morning on the breakfast stay with us