Mr Godfrey Ohuabunwa, a former Director in Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture, has advised the Federal Government against taking foreign loans.<\/p>\n
Ohuabunwa told the News Agency of Nigeria (NAN) in Port Harcourt on Monday that government should be careful of some of the conditions attached to these loans.<\/p>\n
He said that foreign loans could pose danger to our economy and could lead to “economic servitude“.<\/p>\n
“The Federal Government should not do anything to mortgage our economy to some international players, countries or donor organisations.<\/p>\n
“We must avoid making our economy wholly dependent on metropolitan states, “ he said.
\nOhuabunwa advised that government should review some of its agreements on economic matters with some developed countries.<\/p>\n
He said that Nigeria could develop her agro-allied sector to generate enough revenue and stop seeking international finance.<\/p>\n
“If we pay adequate attention to agriculture, there will be enough food and cash crops that will bring revenue to us.<\/p>\n
\u2018\u2019Our crops and soil are wasting away because everybody wants white-collar jobs.<\/p>\n
“Farming has been known globally to generate enough income for domestic development, “ he said.<\/p>\n
Ohuabunwa said that the different tiers of government could overcome economic challenges by adopting ingenious and indigenous strategies that abound.<\/p>\n
“Look, this country is rich; we have not even used half of what can make us richer than some of the developed countries,\u201d he said. (NAN)<\/p>\n","protected":false},"excerpt":{"rendered":"
Mr Godfrey Ohuabunwa, a former Director in Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture, has advised the Federal Government against taking foreign loans. Ohuabunwa told the News Agency…<\/p>\n","protected":false},"author":1,"featured_media":4303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-4300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n