Senator-elect and billionaire business mogul, Dr Jimoh Ibrahim has said Nigeria can repay its debts in ninety days.
Ibrahim proposed the plan for Nigeria to repay its debts within 90 days during an interview on Channels Television’s Politics Today.
The businessman advised the authorities to approach five EXIM banks and collect a loan that is five times the current debt.
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He said:
“I can give you a strategy that can make you pay back the debts in 90 days. All you have to do is to call five EXIM banks, including China EXIM Bank.
“Take a loan about five times whatever you are owing currently, do a bridge gap financing, and then pay off what you are owing. Then you will have a surplus, do a repayment programme for 40 years and then have an honorarium period of 10 years and you are out of the debt.”
During the programme on Monday, the Senator-elect also spoke about Nigeria’s security challenges, specifically the Boko Haram insurgency that has plagued the country for over a decade.
The businessman referred to Boko Haram as a political problem and suggested that President Bola Tinubu return Nigerian troops to their barracks.
He criticized the military’s conventional strategy in approaching an unconventional war and blamed the alleged failure in the fight against terrorism on the authorities’ strategy in the Northeast.
According to him, Nigeria has spent over one trillion dollars ($1.2 trillion) fighting insurgency within the last 10 years and suggested that the government focus on information gathering, socialization, and stakeholder meetings rather than deploying troops to the theatre of operations.
He said:
“Boko Haram is a political problem. You have to socialise politically to solve Boko haram. The first thing Mr President has to do is to withdraw soldiers from the front(line) and return them back to the barracks.
“Children that left NDA as a lieutenant, they have become major-general and the war is still there. Is the military a challenge to ourselves? No.
“Go into political socialization. You have to socialise domestically. Assuming you have spent 10 per cent of $1.2 trillion on political socialisation, Boko Haram would have disappeared.
“But you spent 89 per cent on a factor that is not significant to confront Boko Haram, Boko Haram will still be there.”
