Minister 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.

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.”
https://www.vanguardngr.com/2017/09/imf-borrowed-nigeria-1974-former-finance-minister/
Mynd44
OAM4J
Lalasticlala

e most happen today. FTC.

SMH for Nigeria of today

Now a reverse is the case

Nigeria, my country

So why is this idiot talking about it now and yet he also said he does not know the amount So much moral burden for those who have held leadership position in Nigeria.

Nigeria will be great once again

We are on the path

God bless Muhammadu Buhari

God bless federal republic of Nigeria

Paperwhite:
So why is this idiot talking about it now and yet he also said he does not know the amount So much moral burden for those who have held leadership position in Nigeria.

Pmb will fix it

sarrki:


Pmb will fix it

He was among the trail of idiots that wrecked it, so what is he fixing?

sarrki:


Pmb will fix it

Is it the same man who introduced tight structural adjustment policies after collecting a loan from the IMF which is still unaccounted for?
The same man who allowed fulani herdman to rape and kill our people in their ancestral home.
The same man who promised us heaven and earth after one year of being in office only for him to deny that he never did that.
I dont know how much they pay you to do all these.

The world still borrowing from us through illicit funds moved into there banks.
A lot of monies are outside there waiting for repatriation.

sarrki:


Pmb will fix it

Shut Up, PMB that is Costing Nigeria a Fortune to Treat in London, You are the Last Zombie in Nigeria for your Information.

what do you expect when those with the best brains are nowhere near the planning area. magic? We should increase the agitation for restructuring, that will be a start.

Paperwhite:
So why is this idiot talking about it now and yet he also said he does not know the amount So much moral burden for those who have held leadership position in Nigeria.

He rather refused to disclose the amount of money borrowed.
I think that is not the same thing as not knowing the amount

hmmm

have they repayed the loan?,if not they should just pay us on time so we can use it to buy another country.

Simply put Nigeria of today is nothing but a shadow of her long lost glory.

If Nigeria failed to return to 1960/1963 constitution or at worse go our separate ways, things will keep getting worse.

in this tunel that we have choosed to explore, there is no end in sight unless we swallow our pride, accept our mistakes and resolve to choose to thread the right path afterwards

Wow

Jirate:


Shut Up, PMB that is Costing Nigeria a Fortune to Treat in London, You are the Last Zombie in Nigeria for your Information.

don't mind that guy, he obviously didn't know that in the 60's saudi arabia monarch come to nigeria for medical treatments and the uk and us readily accept nigeria(ns) products into their countries contrary to what is happening today

Paperwhite:
So why is this idiot talking about it now and yet he also said he does not know the amount So much moral burden for those who have held leadership position in Nigeria.

that is how your ineffectual buffoon miss the opportunity to make Nigeria great again.
But buhari will return us back to that glory again, just pray for his good health

Sunky200:


don't mind that guy, he obviously didn't know that in the 60's saudi arabia monarch come to nigeria for medical treatments and the uk and us readily accept nigeria(ns) products into their countries contrary to what is happening today

There were no Nigerian "products" in the 1960s. Name one industry the British established here.

Which hospital did the Saudi monarch get treated in here? I've no idea what you are on about because we had no world class hospitals in the 1960s. Not sure we even had ONE serious hospital back then. If you do, name it.

Oh you mean its online? Nobody see you ? You could not be arrested right ? Ah!!!! Oh ok you called it freedom of speech? I'm here to tell you that you will regret this how could you just addressed a old man like this? he was only referred to the event that occurred back to 40 years ago at least he could recalled that IMF borrowed money its not important to know the certain amount the IMF borrowed as long as IMF returned the money back to Nigeria government without controversy the most important thing and his point is for asshole like you to learn and see the level of ridiculous Nigeria put herself to. I thought they say children learn from the history? Its unfortunate that you guys don't want to learn anymore but you can attack elderly man no wonder you die untimely

Paperwhite:
So why is this idiot talking about it now and yet he also said he does not know the amount So much moral burden for those who have held leadership position in Nigeria.

Lipscomb:
Oh you mean its online? Nobody see you ? You could not be arrested right ? Ah!!!! Oh ok you called it freedom of speech? I'm here to tell you that you will regret this how could you just addressed a old man like this? he was only referred to the event that occurred back to 40 years ago at least he could recalled that IMF borrowed money its not important to know the certain amount the IMF borrowed as long as IMF returned the money back to Nigeria government without controversy the most important thing and his point is for asshole like you to learn and see the level of ridiculous Nigeria put herself to. I thought they say children learn from the history? Its unfortunate that you guys don't want to learn anymore but you can attack elderly man no wonder you die untimely

Summarily, attack not the speaker but his speech.

Mynd44
OAM4J
Lalasticlala
I think this post deserves to be on the front page considering the economic situation we have found ourselves in.