Restructuring will give birth to a productive, united and more prosperous Nigeria – Ohanaeze Ndigbo
Ohanaeze Ndigbo, an apex Igbo socio-cultural group says restructuring Nigeria will give birth to a productive, united and a more prosperous nation.
The position of the group was made known by the president general of the group, Chief Nnia Nwodo in an exclusive interview with the SUN.
According to Chief Nwodo, restructuring was not a sectional ideology as some people think, but it was the only way of salvaging Nigeria from total collapse.
“Restructuring has ceased to be the views of one section of the country. There are northerners in the middle belt who believe in restructuring; there are northerners not from the middle belt like Atiku Abubakar; President Ibrahim Babangida who believe in restructuring.” he noted
“Restructuring is not a sectional ideology; it’s the only way to give birth to a productive, united and more prosperous Nigeria; without it, Nigeria is stillborn. Do you realise now that what we pay as interest of nearly $20billion that we have as external loans is more than what we generate as taxation as a nation.
“We pay 40 per cent of our GDP in retirement of external loans and it is at a growing trend. Right now, America has upped its interest rate; there is a forum of mass withdrawal of investments in our business cycle in search of greater interest rate in America.
“What it’s going to do is that if nothing happens to shore up; thank God there is artificial rise in price of crude oil but that is likely to fall because America is fighting and OPEC has just agreed to lower their prices. So, this increase thing is a short term thing.
“When there is a foreign flight of capital, what will happen is that the price of the Naira will weaken in competition for the dollar because the amount of dollar flowing into our country is severely limited. So, it will be based on the dollar that we earn from our exports.
“One expects that the political rhetoric as we go into election should be telling us; how do we get out of it and that’s why we are saying that restructuring is the only way out of it. Restructuring takes our energies back to the productive units in smaller concentrations and independence to make decisions which are all in the province of the federal government. We have an amorphous federal government that does not work.” he added.