SENATE PRESIDENT LAWAN AHMAD SEEKS WORLD BANK INTERVENTION OVER CHINA REFUSAL TO GRANT NIGERIA $22.7BN FOR PROJECTS IN SOME PARTS OF THE COUNTRY EXCLUDING SOUTH EAST GEOPOLITICAL ZONE.
RECALL THAT WORLD BANK CAUTIONED NIGERIA OVER EXCESSIVE LOAN REQUEST.
WORLD BANK POINTED OUT THAT NIGERIA HAS REACHED BORROWING THRESHOLD.
The irony of the situation is that most of these LOANS were never channeled to REVENUE GENERATION booster such as REFINERIES.
Any LOANS that will ensure that our REFINERIES are FUNCTIONING properly to enable us stop importation of refined FUEL; WORLD BANK would be readily available to help.
From PDP regime till date; most of such LOANS are channelled to ecological funds, irrigation and few Corona projects.
It’ll amaze you to hear that Nigeria has four REFINERIES and non is FUNCTIONING.
And yet, no plans underway to ensure that the REFINERIES are FUNCTIONING.
Texas is a State in USA with over 50 REFINERIES FUNCTIONING while Nigeria is the Giant of Africa with 4 REFINERIES and none is FUNCTIONING.
IF YOU CHANNEL THE LOANS TO REVAMPING THE REFINERIES TO FULL OPTIMIZATION; I AM 100% SURE THAT WORLD BANK WILL WADE INTO THE MATTER.