Tuesday, July 7, 2009

Nigeria grant Sao Tome US$10 million for Economy issue

President Musa Umaru Yar’Adua requested that the senate president David Mark and other senators should approve US$10 million grant to the Democratic Republic of Sao Tome and Principe in addressing their socio-economic problem.

Several crusaders have been embark on as to why the federal government should approve loan at this point of economy meltdown

Meanwhile in an exclusive interview with the Public Relation lecturer of the Nigerian Institute of Journalism, NIJ Ogba Mr Jide Johnson with Gbemile Oluwatosin

Mr Johnson noted that Nation have to help one another, International cooperation between two nations, business must enhance debt and loan facilitation. What you have must be given to others who do not have. Doing this will help one another socio-economic matters. Nigeria giving loan to Sao Tome and Principe is like giving loan to a bank to run a business. Loans are strings because indirectly you tie ally with such country so also interest could be tied to that loan. Loans must be giving to sub-Saharan regions in other to get profit in return; definitely Nigeria might take precedence in issuing of loan to Sao Tome and Principe. We should not look at it on the face value. Why should Nigeria give out loan to Sao Tome? Many reasons, because it’s for our own.

Johnson noted that economy meltdown as one of those crises that will always occur at every stages of life by analyzing the way a particular country will handle crises at every point in time. Either at the beginning of a decade, century or tail end of a decade and century sighting examples of the Reagan Recession of the 1980’s, in Nigeria we have recession during Shagari’s era, Babangide’s era Structural Adjustment Programme (SAP) economic meltdown is cyclical in the sense that business are fluctuating closely in a particular industry that is to say there period of growth, decline and re-introduction. Meltdown or no Meltdown, that does not warrant any country to fold his hand by not investing in any other sectors or rendering assistance to the neighbouring countries.

He noted the implication of Nigeria Government not lending the money is that Nigeria will be successful and others would not be, that is unfair and unjustifiable as Nigeria is regarded as the giant of Africa

However, Nigeria romance with Sao Tome and Prinicipe is strictly economical; there is a joint argument and venture between each other on oil exploration, production and marketing purposes. Therefore the argument is in our favour. The truth is, if Nigeria filed to give them there are many countries that are ready to give, as a matter of fact our major competitor in that country is United State, but we were there before George Bush’s administration refocuses American Energy policy in the Gulf of Guinea

Mr Johnson concluded on the issue by noting that Nigeria must re-invest and take our place in the comity of nations in the 21st century, we have to sacrifice for Africa and still sacrifice because no one should deny us our right of place in Africa and in the world affairs.

No comments:

Post a Comment