The billionaire, who was born in Ondo, also discussed the security issues facing Nigeria, particularly the Boko Haram insurgency that has wracked the country for more than ten years.
Nigeria’s debts should be paid off within 90 days, according to a plan put out by wealthy businessman and incoming senator Dr. Jimoh Ibrahim.
Ibrahim suggested that the government approach five EXIM institutions and request a loan that is five times the present debt during an interview on Channels Television’s Politics Today.
“I have a plan that will get you to pay off your bills in 90 days. Calling five EXIM banks, including China EXIM Bank, is all that is required, he said on Monday.
“Take a loan equal to five times the amount you currently owe, use bridge gap financing, and then settle the debt. Once you have a surplus after completing a 40-year payback plan and a 10-year honorarium period, your debt will be paid off.
The billionaire, who was born in Ondo, also discussed the security issues facing Nigeria, particularly the Boko Haram insurgency that has wracked the country for more than ten years.
He referred to Boko Haram as a political issue and urged the President to send the Nigerian army back to their barracks.
“Boko Haram is an issue of politics. In order to defeat Boko Haram, political socialization is required. The first thing that Mr. President needs to do is take soldiers out of the front line and put them back in the barracks, he said.
“Children who left the NDA as a lieutenant, they have now achieved the rank of major-general, and the conflict continues. Is joining the military a challenge for us? No.”
The legislator claimed that although Nigerian authorities have been waging an insurgency for more than ten years, the military has been using a conventional strategy to fight an unconventional war.
He attributed the purported failure of the counterterrorism effort to the Northeast authorities’ policy.
The most populated country in Africa, according to Ibrahim, has spent a staggering $1.2 trillion battling insurgency over the past ten years.
The billionaire advises the Nigerian government to “look for information gathering, socialization, you need to meet stakeholders, you have to do meetings” rather than sending troops to the theater of operations.
Ibrahim suggested to President Bola Tinubu to “go into political socialization” on the path forward. Domestic social interaction is required. Boko Haram would never longer exist if 10% of $1.2 trillion had been spent on political socialization.
Boko Haram will still exist, but you spent 89% of your budget on a non-significant element to tackle it.
