In an interview on Channels Television’s Politics Today, Senator-elect and billionaire business mogul, Dr Jimoh Ibrahim, proposed a plan for Nigeria to repay its debts within 90 days.
Ibrahim, shared his thoughts on the solution to Nigeria’s debt crisis and security challenges. He advised Nigerian authorities to approach five EXIM banks, including China EXIM bank, and take a loan that is five times the current debt.
With this approach, he believes that Nigeria can pay off its debts in just 90 days, do a repayment programme for 40 years, and then have an honorarium period of 10 years to recover.
Furthermore, Ibrahim discussed Nigeria’s security challenges, with a particular focus on the Boko Haram insurgency that has ravaged the nation for over a decade.
He described Boko Haram as a political problem, and urged the President to withdraw Nigerian troops from the frontlines and return them to their barracks.
Ibrahim believes that the military has been deploying a conventional strategy to approach an unconventional war, which has resulted in the alleged failure of the fight against terrorism. Instead, he recommends that the Nigerian government should focus on information gathering, socialization, and hold meetings with stakeholders as a way forward.
Ibrahim also criticized Nigeria’s strategy deployed by authorities in the Northeast, which he believes is responsible for the alleged failure in the fight against terrorism.
According to him, Africa’s most populous nation has spent a whopping $1.2 trillion fighting insurgency within the last 10 years. He believes that the Nigerian government should focus on political socialization and spend money on meeting stakeholders rather than deploying troops to the theatre of operations.
His ideas are based on the belief that a political solution to the problem is necessary, and the Nigerian authorities should adopt a new approach to tackle the country’s challenges.