IMF borrowed from Nigeria in 1974 — Former Finance Minister

By Abdallah el-Kurebe

Sokoto — Minis- ter of Finance in the Second Republic, Alhaji Abubakar Alhaji, said yesterday the International Monetary Fund, IMF, borrowed money from Nigeria in 1974.

Alhaji, who revealed this when Senator Shehu Sani paid him a private visit in his residence in Sokoto, said he signed the loan agreement when he was Permanent Secretary at the Federal Ministry of Finance.

IMF

The former Finance Minister, who did not disclose the amount involved, said:  “I weep for Nigeria for what it has become today. The country has vast resources that if well harnessed, could lead the country     to greater heights.

’In 1974 when I was permanent secretary at the Federal Ministry of Finance, the IMF approached us for a loan. I signed the agreement on behalf of Nigeria. Unfortunately, today expenses of government have driven us into recession,’’ he said.

He added that Nigeria’s over-dependence on oil was the result of the economic problems the nation was plunged into.

He said: “Aside from oil and agriculture, Nigeria had industries that were earning foreign exchange for it. Agriculture and the industries were allowed to recede and when global fuel prices crashed, we are nowhere today.”

Alhaji further noted that the present 36 states were too many and had bred corruption, noting that government’s expenditure was on the high side.

He said:  “The more states we have, the more corruption there is. We should have between six and twelve states. We should cut our coat according to our size.”

On the Biafran agitation, the former Minister said Nigeria should remain united, noting “there is nothing better for us than a united Nigeria. We have potentials that could be harnessed and enjoyed together.”

 

Mourinho’s hand in Nigeria’s new foreign coach

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The Nigeria Football Federation will soon announce the appointment of a new foreign coach for the Super Eagles. The announcement could be made before the impending Africa Cup of Nations billed for Cameroon in January.

The new coach, whose identity is still being kept under wraps, was recommended to Nigeria by one of the best and most popular coaches in the world, Jose Mourinho.

Sports Nigerianewslite exclusively gathered that in his bid to get the best tactician for Nigeria, Pinnick who has never hidden his lack of confidence in Nigerian coaches, went in search of a capable hand who would replace sacked Gernot Rohr.

Our source informed that due to the backlash that followed Rohr’s poor performance with the Eagles, Pinnick didn’t want to take anything for granted, in his search for Rohr’s replacement.

“The NFF boss went as far as meeting with many respected names including the former Chelsea coach, Jose Mourinho to assist him in getting a good coach for Nigeria,” our source said.

“The speed and precision with which the NFF applied in securing a new coach could not have been possible without the role played by the ‘Special One’.”

Our source said the NFF President is not leaving anything to chance in his bid to ensure Nigeria’s flag is flown in Qatar 2022. “Qualification to the 2022 World Cup is top priority for NFF president Amaju Pinnick,” he said.

Pinnick, himself said as much when he explained that Rohr was booted out to avoid a “disaster”, which will actually be failure to feature at Qatar 2022 that will guarantee millions of US Dollars to the country.

Although the new coach is expected to be named before the AFCON, he is expected to be in Cameroon as a spectator. “He is expected to have a first hand knowledge of the team from the background while interim coach Austin Eguavoen pilots the campaign for Nigeria’s fourth continental title,” our source added.

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