Millionaire businessman and incoming senator, Jimoh Ibrahim, has suggested a loan repayment strategy that Nigeria can adopt in a bid to pay back its debts within 90 days.
Ibrahim made the suggestion while appearing on Channels Television’s Politics Today. He said that the government should obtain loan that is five times the amount already owed from five EXIM institutions.
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.”
The businessman also spoke about Nigeria’s security challenges, especially the Boko Haram insurgency that has affected the nation for over a decade.
He described Boko Haram as a political problem and urged President Tinubu to return Nigerian troops to their barracks.
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.”
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