From Marcel Duru Owerri
Political and Economic Analyst based in South Africa Dr Aaron Bisibi has said that mediocrity is the ben of Economic woes in Nigeria. Speaking with Journalists at Rock View Okigwe Road, Owerri Imo State, he highlighted that those Manning Nigeria economy are mediocre who are round pegs in square holes, who have no Economic popularity. He stated that Nigeria has been listed as one of the poorest Countries in the World because it has borrowed for Consumption and not for production; stressing that it was because of poor Economic and Social infrastructure that South African government of Cyril Ramaphosa staged eccentric Agenda which aimed to push Nigeria Citizens particularly out of South Africa without Considering International Convention on Xynophobic attack. Bisibi reiterated that if Nigeria is truly a Sovereign Nation why should it cede Nigeria National Petroleum Company Limit (NNPCL) the heart beat of the Nation to China if it’s not because of mediocrity in the Oil Sector. He stated that Nigeria Government has borrowed the Economy of the Country out of proportion and it is On record that from June 2023 Nigeria borrowed and allocated $750 million for power Sector that only resulted in throwing Nigeria in total darkness. In June 2024 Nigerian Government borrowed $1.5 billion for Economic Stability that is, to reset Nigeria Economy and encouraged Physical Reform in the Sector, the money conspicuously went in to private pockets with out using it for the projects. He went further to state that in September 2024, the Federal Government borrowed, $1.57 billion for Health, Education and Power again that would assist Human Capital and Energy Resilience. According to him in December 2023 borrowed $750 million from Renewable Energy for Private Sector and Electrification Access He stated that on Sustaining Power and Irrigation Nigeria borrowed $500 Million and Rural Access Agricultural Marketing and Rural Infrastructure amongst others. How many projects have been completed in Nigeria with all these borrowed money? He asked . Right now it has been proven in the law Court that former Minister of Power Alhaji Sanny Mamman misappropriated N33.8 billion from 2019 to 2021 this is one of the signs of a failed Nation. “When Obasanjo was the President of this country he cleared Nigeria Depts that made our economy strong through out his tenure.” Right now over twenty five Countries have declined plea to invest in the Country which includes India and Brazil amongst others.”
