Privileged Nigerians With Oil Blocks Should Give Loan To FG – Exporters

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Mr Joseph Idiong, the  Director-General, Association of Nigerian Exporters, has advised the Federal Government to request Nigerians with oil blocks for single digit interest loans to address the current recession in the country.

Idiong gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday.

“The privileged few who were favoured with petroleum blocks, crude oil sales and petroleum subsidy licences should be approached to grant single digit interest loans to Federal Government.

“This will be part of their way of giving back to society,’’ he said.

Idiong said such Nigerians should also be patriotic enough to invest in export-oriented manufacturing and petrochemical industries than investing in shopping plazas selling imported products.

According to him, it is fraudulent to sell public assets to debtors who take local bank loan on personal recognition.

He said that such people who would bank liquidity ended up using the public assets as their loan collateral.

NAN recalled that Alhaji Aliko Dangote, the President of Dangote Group, had in a recent interview advised that selling government’s assets could be the best way to get the country out of recession.

Dangote called on the Federal Government to consider selling the Nigerian Liquified Natural Gas and other dormant but huge capital-generating assets and invest the proceeds in the economy.(NAN)


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