B-R-E-A-K-I-N-G: PROFESSOR IMUMOLEN RAISES THE ALARM, SAYS 56,000 PROJECTS ARE ABANDONED IN NIGERIA, ABOUT 90% REVENUES LOOTED THROUGH CORRUPTION

By Emeagi Emeka Williams

For Nigeria to bounce back to reckon and begin to inch close to global leadership cum economic prominence, her system has to get a revamp and invigoration that only wells from good, clairvoyant and competitive governance.

Speaking during a brief media forum in his Lagos office recently, Imumolen lamented the huge financial siphoning that occurs through the conduit pipe of corruption leading to the unfortunate disappearance of about 90% of the nation’s wealth.

He also condemned the existence of over 56,000 abandoned projects which should have been augmenting national development.
“For Nigeria’s economy to depart from being a consuming one to a production type, a serious governmental action is required.
“It is impossible for a country with zero steel capacity to become a production economy.
“Sadly too, four Nigerian refineries are down, producing below required capacity.
“How can a nation with these alarming industrial deficits make any meaningful progress?”, he queried.

Professor Imumolen therefore emphasized
that there is need for a policy that creates the enabling environment for states to harness the mineral resources latent in their soils for the good of Nigeria, stating that Nigeria has over 4000 mineral resources which have only been tapped less than 15%, and the readiness of the federal govt to help states identify and exploit these resources can generate huge resources for projects.
“Human resources which are fundamental remain crucial in the development plan of the govt, even as foreign investment policy which is friendly and incorporates the Public Private Partnership, PPP and BOT are essential to wards building a production capacity for local consumption and export for foreign earnings.
“Creating a system that can transparently channel the earnings of the country into the national coffer will help generate so much funding for infrastructural projects”, Imumolen buttressed.

He therefore said that Nigeria will have so much money with functional industries and a system that checks high level corruption, thus escaping huge borrowing and debilitating indebtedness.
“Corruption is a seed that germinates where it finds a soil fertile enough.
“So corruption which is a cankerworm can be easily deactivated with a digital system and sincere culture that punishes defaulters and greatly rewards patriotism and devout industry”, Prof Imumolen disclosed.

Ending, he lamented the medusa headed corruption in Nigeria and implored Nigerians to ignite the type of country they desire by standing up against retrogressive politics, leadership and social culture.