1)GOVERNMENT BORROWING: We all knew that World Bank has approved Nigeria’s request for $3bn loan for the expansion of the
power transmission and distribution networks.This is unnecessary borrowing because Government has another way to generate
this amount by cutting down the cost of governance.Federal Government’s request for additional loans was unjustifiable.
because INTERNATIONAL OIL COMPANIES owed the country and Federal Government of Nigeria does not focus on the recovery of more
than $100bn from the international oil companies.
Federal Government should pursue the payment of funds accrual to Nigeria from periodic adjustments in remittances by
the International Oil Companies subject to increases in the price of crude oil above $US20 per barrel.
Nigerian government officials failed to activate this clause for more than 20 years thus allowing the IOCs to
stash away more than $US100 billion in unpaid royalties to Nigeria.
2)LOOT FUNDS:The stolen funds have now been recovered and paid into a special recovery fund after a five-year legal battle.
The fund will be shared between the Nigerian government, Jersey and the US government, according to Jersey authorities
overseeing the case.
3)EFCC RECOVERY under his watch recovered N794 billion, $261 million (about N77.8 billion), £1.1 million
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