Friday, chairman UBA Group, Tony Elumelu, CON spoke on the nation’s economy. He told
the International Monetary Fund (IMF) and other development parties to provide
alternatives to Nigeria if collecting loans from China was injuries to the
nation’s economy.
came as a reaction to the warning by the IMF to Nigeria to be weary of China
loan. Mr Tobias Adrian, the Financial Counsellor and Director of the IMF’s
Monetary and Capital Markets Department had warned on Wednesday during the
launch of the Global Financial Stability Report for April, 2019 at the
IMF/World Bank meetings in Washington D.C, United of America.
asked his position on the IMF warning, Elumelu said, “My position is that
nature abhors vacuum, if you do not want Nigeria to take China loan, provide
the alternative. Like I keep saying, they should also support the development
of entrepreneurs, they should look at ways to help us eradicate poverty in a
manner that is sustainable. “For me, one of the surest way to eradicate poverty
is to ensure that our youths are gainfully employed through entrepreneurship.
“Also to make sure that development agencies – IMF, World Bank and co help and
support Nigeria to improve on her infrastructure, road transportation, access
to electricity. “These are things that will help us improve on security in
Nigeria, these are things that will help us increase prosperity through
employment which is the most important thing. “So, the advice is good but
nature abhors vacuum.”
On the
economy and the next level, he states; “let us just continue in what we are
doing, improve on them, increase capacity. “I operate in the power sector, we
are the biggest generator of electricity in Nigeria through Transcorp power and
I know first-hand what efforts government is doing. “But we need to do more, we
need to convert gas to power, we need to compliment what is going on already in
the Agric space and as you know there is peace and prosperity in that sector
but we need to add a little zeal to it to be able to attract investors. “The
elections are over, we need to move forward as a team, as a country so that our
people will be better for it.”
also said that his Foundation will continue to support the government and the
people through the $5,000 grant, so as to create a more prosperous society.

credit: Internet



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