Nigerian President Bola Tinubu begs for a Marshall Plan for Africa following news that the country was losing 400,000 barrels of crude oil daily to theft
President Bola Tinubu of Nigeria in a meeting with the US undersecretary of state for African Affairs Molly Phee in Abuja, Saturday called on the United States to set up a Marshall Plan for Africa.
The Nigerian president elaborated that such a plan will involve financial assistance and other incentives that will prevent the continent from falling into the hands of anti democratic forces.
“It is necessary for US policy to collaborate with independent African democracies at a time when they are under assault by anti-democratic forces within and outside of the continent.” Tinubu said in a press statement signed by his spokesman Ajuri Ngelale.
The Marshall Plan introduced by the United States was a series of monetary and infrastructural assistance given to western European countries to boost their economies after the devastation of World War II with the aim of preventing them from falling under communist influence.
NSA Nuhu Ribadu revealing the loss of 400k barrels of oil on Saturday.
“Yes, the private sector will lead the way within an enabling environment we create for them, but the U.S. Government must be innovative in its thinking and systematically create incentives for U.S. industrial investment in Nigeria.” The Nigerian president pleaded.
Tinubu added that US financial assistance will “meet the developmental requirements of younger democracies in Africa, which operate in authoritarian-crowded environments, such that the legitimate yearnings of Africans would no longer be manipulated to serve the narrow aims of self-seeking demagogues through unconstitutional takeovers of power.” Knocking those calling for his removal because of the current high cost of living.
His foreign policy announcement which is likely pro western ignored the recently concluded BRICS summit in South Africa and comes on the day the National Security Adviser (NSA) Nuhu Ribadu announced that the country was losing 400,000 barrels of crude oil daily to theft, Saturday.
“The value of 400,000 barrels of oil today is about 4 million dollars, and every day, we lose this amount because of this irresponsible behaviour.“ Ribadu said.
“If you multiply 4 million dollars by 365 days (one year), you will see that it is a lot of money running into billions of dollars. Currently, the country is in desperate need of money as the Naira is continuously losing its value because we earn less money.”
“If we earn more money, it will not only help strengthen our currency but reflect in everything, including the cost of living in the country,” Ribadu added.
Only a massive US investment in Nigeria will save the country from economic collapse and the Tinubu administration was prepared to introduce new laws that will pull in American investment.
“To attract the much needed US investment in the economy, Nigeria was ready to address their specific regulatory, tax and environmental concerns because he was on a mission to create prosperity for all Nigerian families.” Tinubu said.
Commenting on the crisis in Niger the Nigerian president noted that the defence of democracy was sacrosanct but war will not be helpful to his economic programme, to the region and to Africa. Therefore he was holding the Economic Community of West Africa (ECOWAS) back from military action and to use all diplomatic means to restore ousted President Mohamed Bazoum to power.
In response the US envoy informed Tinubu that President Joe Biden was willing to meet with him on the sidelines of the United Nations General Assembly next week.
Tinubu accepted the invitation saying that “the work of perfecting democracy is never done, even in developed democracies, as seen recently in America, as well as other emerging democracies in the world.”
Akowe with reports from Abuja