April 22, 2024

How Nigeria Can Repay Debts Within 90 Days – Jimoh Ibrahim | Politics Today

Published June 11, 2023, 10:20 p.m. by Naomi Charles

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and let's get straight to our

conversations for tonight the past week

as being a rocky start of some sort for

the president it appears he's now trying

to find its feet in the uh presidency

now in the middle of the challenges of

steering the Affairs of this nation out

of these duties constitutionally there

will be to secure Nigeria and show

prosperity of Nigerian people and also

play the politics of this country right

let's get talking about some of these

issues one of each is uh have the

looming and the Immigrant politics of

the national the leadership of the

National Assembly is part of the formula

of the APC for the presiding officers

positions in international assembly

which will be inaugurated on the 13th of

June this year someone like Senator

Sanam is saying that he's not backing

down and we run for the Senate President

despite not being favored by the APC

typically listen to him


even down by anyone we are just uh they

are looking and there's consultations

going on so wherever the permutation

will lie I mean we will take it from

there the election will be done in the


by all elected Senators so the issue of

going against the party does not arise

because we are party faithfuls

we are part of the APC and we are part

of that structure that built the APC to

what it is

but there you have it it does look like

there is a whole lot that is going on on

the in the background against the Run of

play the APC size uh it has zoned and

also in fact put names to some of these

presiding officers Robert it's looking


some people are not happy with the

position of the party of this there's

been some meetings with confidence of

the APC leaders of the APC we've seen

meetings of course with some of these

people in the presidential Villa amongst

I mean in the means of all of this the

issue of governance retainable

presidency the issue of subsidy a whole

lot of issues are on the table and one

thing is very Paramount the interests of

Nigeria let's get talking I have joining

me to begin the conversation he's a

businessman now turn politician Senator

elective from ondo State Mr jimon

Ibrahim thank you so much indeed for

joining us tonight thank you Dr jimad Mr

jimo I know you've got a lot of the from

Oxford from Harvard all around the world

but it's good to see you thank you so

much indeed now yeah you are amazing

politics now

um I mean

Jimmy Ibrahim comes with a lot of

controversy of course in terms of your

own personality you seem to be a very

controversial person just like the Lord

Jesus Christ

I know you wouldn't compare yourself

with the Lord Jesus Christ

all right because the issues are dead

I'm coming issues the issues of you

owing Banks issues of uh stop not being

paid salaries in some of your companies

some of the companies that have failed I

mean where do you leave all of these um

coming into politics which company has

failed it's Nikon luxury not selling

hotels it's like Insurance not engine

cover is that grd not doing their job is

energy Banks ultimate not working is

worldwide Fortune to buy not selling

properties so you don't deal with fake

news scenery of All Star repairs at May

31st let's say one staff come and say he

has not collecting and again in all of

these I didn't promise that when I have

20 company one of them will survive like

somebody have 20 children some can die

some kind even when you have pregnancy

you can really go on that before

delivery so

but I used to do my best

I use my hand to sign at the time 18

000 Workforce Sanctuary for the month

how many state government are doing that

commit Nigerians for what they have done

comment people like and I'm happy that

the federal government has commanded me

twice they offered me the omr the CFR

commander of right problem Nigeria if I

have not contributed the economy do I

just pick those honors and who are from

different presidents so we've done

excellently Well Company are doing fine

and then of course the one that we

cannot do like National Bureau we close

it down you know and then like air

Nigeria we showed our interest to uba

and then we bought at about two dollar

from Richard Branson about air Nigeria

one dollar and 640 million to the

Nigerian shareholders and I sold for 34

million dollars is that a bad issue but

but you you took over a newspaper where

about I mean what about that today well

the newspaper have to come you have to

be to be closed down because it has to

be arrested because uh I saw some

mismanagement and like on to journalism

you know journalists are not good

manager of resources they are good

breeded people in paper and English

language but the term things around

isn't easy things and when we are ready

again we'll bring it back is in the

theater so obviously completely data for

10 20 years it's like if your person is

not the focus of this interview tonight

I borrowed 22 billion from UB I use 137

million pounds as deposit for collateral

that is four times the reason for that

is a bank and I knew the naira will fall


and again is Nigeria not going

but like I said uh your person is not a

focus of this interview the issues that

uh that brought us here that the

invitation for you tonight but I mean

I'll begin with the issue of the economy

yeah which is very Paramount but you are

from the business sector yes

um a new man in the side of president

but you have said you have been quoted

to have said that he would do well to

handle the economy of this country with

the kind of debt almost going into about

70 trillion by the debt budding uh total

that the DMO is uh uh speculating on

how do you hope that president tinubu

can be able to handle it there are

issues and suggestions on the increase

of minimum wage do you think that should

be worried by a very serious problem to

a president-elect how do Nigeria there

what is what is debt ratio to GDP of the


is less than 30 about 31 so you have a

window okay about 70 to borrow more

money what are you doing you're wasting

your time no borrowing Dubai is 2167

billion dollars

they are a population of 12 million

people of three million indigenous

so at the borrow 168 billion the

development infrastructure everything is

fine in Dubai today and they disappear

in the loan bank so actually it would be

difficult to actually pay back the debt

I can give you a strategy that can make

it to paid by the dead in 90 days 90

days 90 days all Nigeria dead payback of

the monies that we have been over there

almost all that payback United States

well I will let that go because of my

love for Nigeria I thought I wouldn't

say that I spent six years in Cambridge

it's not a joke and I pay school fees

Nigeria didn't pay my school fees but

whatever I do over the purpose of our

fellow citizens all you need to do is

call five six eggs in Bank including the

channel eximb back take a loan about 10

times or five times your whatever you

are owing currently and then do a bridge

girl financing and then pay off what you

are owing and then you have Surplus do a

repayment program for 40 years and they

have it on the random period of 10 years

and you are out of the debts so you free

many things and you can negotiate with

it with the with the Creditor because

I'm going to pay you now all the debt

give me 30 discount they do that so go

to five six Consortium of engine bank I

have my friends that would then be a PhD

together in Cambridge election Bank

Russia is there we have David there you

have shown in China so these are

directors of operations let's get

consultant get people that knowledge get

about five or six exit back together

give your loan of 100 billion dollars

pay whatever you are owing now and then

it means you are free for the loan the

new 100 billion dollar loan put it on

the on on 10 on 40 years repayment do a

monitorium of 10 years you don't have

any obligation sounds easy yeah it's


for a country that the past government

says that Revenue has been a major

problem yes and you think that it's so

easy to approach this bank and they will

just give you they will give you because

you are having a 40 years repayment

schedule 10 years monetarian period

within the 10 year put your house in

order because you will now free free 50

percent of that that servicing in your

budget to zero in year one then you have

money to develop the economy you don't

have to convert complexity around you

you need another people don't let

yourself you can just get on the road

you have to work for it and get it out

so if you are able to say to five six

exim Bank might do not One exim Bank you

are looking for 40 years lonely payments

you are looking for 10 years of honorary

home you do a beach find us and then you

say this bridge Finance even borrowing

because I got an offer to pay off this

this bridge Finance pay the assistant

debts so you get to your debt to zero

your 30 50 percent then servicing from

your budget will be free then you have

for 40 years to pay back for 10 years

come back home why did you get it wrong

how many oil Revenue can we get how many

alternative Revenue how can we

Diversified the economy and if you're

able to get this then within 10 years

you're going to have a fantastic

holistic well-defined roadmap Financial


in recent time I spoke to him last when

will I do the campaign on our bottom

projects and he agreed with me we have

some classes in his bedroom and it was

fantastic uh leader and a very good

listener and then of course he was there

to implement some of my ideas and of

course I ran away to deliver one area to

look for a vote to come to the center

this one again

to charge you some hundred thousands of

millions of dollars is only a simple

advice so people are going to Cambridge

to study I'm the first human being to

get doctor of business from Cambridge

from first to everyone and I think my

teachers three and a half years I

graduated six months behind schedule I

have Masters in mega project in Oxford

have MBA in in Cambridge I've only let

me have that come on I have invested in

knowledge so if I'm telling you all of

this it's something Nigeria can do but

if you don't consult people that have

the knowledge to give you so you are a

member of the APC yes you shouldn't you

be offering some of this knowledge that

you have to your party my my school fees

APC go to meeting Kimberly when I was



it's so easy you talked about the

abandoned project yeah Dr Ibrahim um and

uh what I've heard you say that the kind

of abandoned project that Nigeria has is

over one thousand if I'm correct is that

right so we have 11


it turns 66 Federal Government abandoned

project in Nigeria three of those

projects is 40 of national debt I named

them ajakuta 6 billion dollars spent 42

years on site no one single Road


copy 6.4 billion dollars spent it

doesn't have addressed anymore

second Niger bridge that is four percent

completed seven or ten years a decade

into the project what is strong with

Nigeria the National Library the

National Library 375 billion dollars

spent and then of course is at fourth

floor I argue that do you remember the

time I was taking my questionnaire and

this Mr President why is it that you

didn't complete the National Library

when I came to office I called them to

bring the fire they brought the fire and

they said the National Library is going

to 13th floor and then 13 floors okay

where are we now fourth floor okay you

told them give me estimate to roof the

nation library at the fourth floor the

table seven brand estimate that the

spoon are taking that detention library

to 13th floor so the United House of

they cannot sign it so he left it when

buhari came to continue 18 years after

National Library you need 37 billion

billionaire buhari kept this pain he

cannot sign the library is there

abandoned why do you need the National

Library in the United States at the 36

State citizen 350 million to Abuja to

come and read it is a complete Madness


886 Federal projects are apparently I

have the list that's the central piece

of my PhD and if you want to get the

list from me I mean you you have to pay

you know I don't just work for free I'm

a businessman because I have to pay for

it yeah and if three of your projects

you sound like one of my friends way

back when I was doing my masters we call

him the intellectual arrogance

you sound a bit or like I have been able

to deliver speeches lectures a technical

session of international

funds spring session it doesn't come for

a free for foreign

if you look at your abandoned project

you can never grow in this country

unless you abandoned project some

reserve and also are you fantastic guy

and I've been honored with you I told

him why do

we are still doing Mega project today

and they have been abandoned by success

project was able

from the list of 11 000 or 86. what is

the appropriate money

to make it even worse even brought over

ajakota from the privatized people I pay

500 million that's completely

embarrassment if you are to do a green

seed at jakuda today you need 1.2

billion dollar you wasted 500 million

dollar to three months to the end of

your government and you think Nigeria

those who think that Nigeria needs yes

um from medium to long time economic

plan an agenda

that will surpass government yes that

will help the nation focus on its

priorities based on his resources and

revenue projections do you think so and

how do we start that kind of idea if we

are to move forward diagnose the problem

of Nigeria you are talking economic

theories what about what's the problem

of Nigeria from Europe diagnose Nigeria


if you don't stop if you see a president

that does not talk about about projects

in his campaign speech is he failed


eleven thousand or eighty six federal

government project I'm not talking

showing about 36 States government about

our project on local government 776 I'm

talking about just federal government

and I invited that 20 of this project 40

comparison safe sector you know I pick

why is ajakuta failing why why should we

have ziguero not completing our time

cost of around schedule delay benefit

shortfall over and over again and we're

in a country we will still have a budget

for this assembly with a better project

not being mentioned should should the

president decide to consult you yes and

ask you to work with him will you

jettison your senatorial seat and walk

with the president if I have the respect

I'm not going for money I I don't


uh whatever we call it so I'm not

looking for money my life ambition is my

knowledge and I have nine University

degrees are you willing to use that

knowledge for your nation I'm ready

let me take you to yet another very

important and you've touched on the

economy security is a major issue yeah

and what I read about you you touched on

you mentioned the issue of Boko Haram

yes and you were one of those who've

criticized the manner which Nigeria

approached the fight of insecurity in

this country yes why yeah I wrote my

second period

interestingly now the issue is that

Nigeria has spent 1.2 trillion dollar on

Boko Haram in the last 10 years

1.2 trillion

of Boko Ram in the last 20 years

children are left in the NDA as the

lieutenant they have become Major

General in Boko Haram and the war is

still there so I asked three questions

is is the military a challenge to

ourselves no Boko Haram is political

problem you have to look at political

situation so you have to socialize

politically to sober Quran the first

thing Mr President to do Israel soldiers

from the front of Boko Haram and they

told them to the Barrack do you think

when you use conventional strategy to

approach unconventional War you are

going to fail the military isn't the

best military is using conventional war

strategy to confront unconventional War

Boko Haram is a conventional War you

can't deploy troops you need to look for

information gathering you have to look

at socialization you need to meet the

stakeholders you have to do meetings but

when you know we are not in Russia

against Ukraine this is that's a

conventional War what would you advise

president tinubu to do

but I don't like to be giving this thing

for free I told you I'm not a free man

you know I don't really like it but what

whether it was because you are mentioned

to know I tried to be compassionate I've

seen president there have been to any

president I'm a CFA I could say the

president anytime but let me tell you be

honest to be honest with you you have to

socialize domestically assuming you have

spent 10 or 1.2 trillion on political

socialization would have disappeared

but you spend 89 on factors that is not

sustainably significant to confront Boko

Haram [ __ ] around will be there and who

will stop it nobody can stop it

unconventional will have historical

transition that's also transforms into

the issue of mandatory yes in the

northwest of course more things will

come up with those in those areas and

the fact again don't forget government

failure hydro hydro immigration project

irrigation project in the north Auto

have been completed and Supply water to

those greens area so that those cows can

stop the greens either of them traveling

down and don't forget that even in the

Northeast you talk about poverty rate is

76 indicating 16 Federation opportunity

76 in the same Federation and what are

you looking for you are boiling you know

it's objects which is not too good

enough let me take you to Paul since you

are now in politics let me take you to

politics are you a party man Mr Ibrahim

I'm a party man why are you the accident

that I want to win the election why are

you running and campaigning against your

party your party has come up with a

position as far as the National Assembly

leadership politics is concerned but you

are not in Alliance with that why if you

want to say it very clearly um

fantastic so that's how to put it now is

my party above democracy

democracy is going to build by the

people for the people

Lincoln so my party said this is their

desire do they say by compulsion you

should go and vote for somebody and what

professors actually committed I cannot

run for the presidency of Nigeria if I'm

a Yoruba man I'm aware is safe

so what are you talking about let's be

strategic should we all run away from

Yari I'll make it in Northern Affairs

ayali will win then they are so we will

buffets there and now we just have

Georgia survive so the key point there

is that I'm not going to National

Assembly to look for money I want to

exercise my interest what is in my mind

my desire My People sent me here I

didn't send myself so therefore it's

very important for us to put things in

proper perspective my party up today

have not called me that you must

compulsively vote for X for the party

has publicly announced its position

announcement is different by calling me

no the party release a position yes

so you do not respect the position of

your party don't don't even respect here

it's about the party informing me and I

will ask them a question is it by

compulsion but do you also respect you

cannot be confused don't be confirmed no

no just just remember yes the party has

Zone and there are thinking around the

Zone what the party say nobody can

contest for the post of presidency

Musa is running ojikalu is honey osita

is running so what crime has he already

committed I cannot run so let me let me

tell you and put this scenario to you

um we have a president from the

southwest yes a Muslim yes we have a

vice president from the Northeast a

Muslim they are thinking that to balance

the equation in terms of the spread and

issues of religion yes don't you think

the diagram you're seeing right on your

screen is a bit favorable in the issue

of the of zoning and religious

accommodation what does that to do with

success of governments do you is that

aiastic is that a parameter Nigeria is a

secularism you do me that because you

are a religion man that you will be

successful at least 10 billionaire ask

the number of Muslims they're about two

percent the rest are Christians

efficiency is not by religion stop this

religions of that I don't want to hear

have been a Muslim I'm not a Christian

my father was an allergy and now I'm a

Christian I attend the winners everybody

knows that but it's not so what are we

talking about that's straightforward

because the policy just remember yes the

politics of Nigeria is that

straightforward all over the world it is

not religion calculation are also a

consideration if you take religion is

that the only variable there are more

than 1067 variables

you want to find out whether the

variable of religion pass statistical

significant test of 0.5 no I thought

about you sometimes ago with this

settlement of this religious

you know is that is religion scoring 0.5

percent was or what you are elected into

president of Nigeria because he's a

Muslim was he elected because Muslim was

performance you know came out because

he's a Christian was do not excellently

performed because he was a Christian all

these are not significant but this

issue of marginalization is being

whipped up the issue of ethnic issues

are being whipped up now the question is

that why are you supporting Mr Yari okay

there have been a time in the Senate

where the president was a Christian the

double president was a Christian there

will be a termination in the rep when

adeola was a speaker another the other

person was also a Christian so what the

war didn't come down why are you

supporting me I'm sorry because of

credibility Integrity honesty desire for

fairness Justice pragmatic leader

somebody who have the desire who is fair

is a fair-minded person he's an is

anticipant about delivery of governance

what would he say about that

above average

and nobody have it nobody knows to look

before I went for six degrees for over

10 years that I even left business I I

don't I don't know much when I came back

even though I see listen to my my

colleagues nobody knows everything yeah

they cannot be a first class today with

first class in everything I did a first

degree in the lse I made a two one in

the same class my son made it very first


you don't have very Yari have been

governor for two times in Safara is that

not true he'll be chairman of Governor's

Forum the question is how did they leave

the state did you want to stay bankrupt

I'm asking you well I'm asking you the

question this is disabled bankrupt how

did other people left their state I saw

a governor sometimes ago they say it's

probably the best for that position who

is who is better than he comparing

compared to other words before he came

who brought in this is you of uh you

have forgot this uh Islamic is your

board of uh you know dressing in Islamic

Manner and all that what do you call it

the Islamic the job and all that was

that the best for our country that allow

you freedom of religion and inside your

rights he brought in I brought the

Sharia and it was a big problem for

obasanjo he's telling you to divide

Nigeria so whatever it is

going to jail or had he been arrested or

charged for criminal offense let's be

honest Mr Yari was going to court to ask


um an expert he got an expert in

Junction that he should not be arrested

no no no it's not that it's not be

arrested forever he's saying my my

rights are threatened him because I have

desire to be any president don't arrest

me until I finished the election on the

13th the court are joined thereafter you

can arrest him after but this time all

those questions fundamental human right

enforcement you are a lawyer upcoming so

what does he say if your right is going

to be so much your protocol I have taken


I told him I'm not begging anybody in

Nigeria I'll collect my coming back

because they are sure in uh Lagos State

government said what executive


violation of the Constitution if

performed a civilizer too bad I want to

call my callback now

when Jonathan came in Nigeria

I sold because I don't want to drag that

in court because I don't want the plane

to crash so I saw from 2.35 million

dollars you'll be paid now when uh

buhari came he brought him one money

they've taken over the company I went

back to foreign


but just in 30 seconds the last question

I have for you is about Nigeria air

there is an inquiry today and they said

look some of those things that have been

displayed by the outgoing out gun

government was shrouded in secrecy is it

a good time for us to start another

another National carry what is the

business of common in Airline business

you are not a fraud

that stream is complete fraud in this

company belong to me according Nigeria

here Nigeria you then put the air at the

back of Nigeria you don't call Nigeria

that is stealing if I go to Canada is

controversial I could stop everything

about that process and you spend

billions of Nigeria money once

University teachers are not being

penciling and they are putting Below on

this I think this is completely service

inside the nation and whoever I think of

is unfortunate that you come under the


thank you so much indeed for your time I

appreciate it thank you nice to be with



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