Speak out on implications of $29bn loan, Abiola-Dosumu tells women

Lagos business woman and socialite, Mrs Erelu Abiola-Dosumu, has called for the input of women entrepreneur on the government’s plan to borrow about 29.9 billion dollars for infrastructure projects.


Abiola-Dosumu, who spoke at a round table conference in Lagos on Tuesday, said that the money would be better invested to yield income than to be used on infrastructure.

“I appeal that people like Mrs Nike Akande, President, Lagos Chamber of Commerce and Industry (LCCI) should speak out about the implications of the loan,’’ she said.

President Muhammadu Buhari, on Oct. 28 sought the approval of the National Assembly for external borrowing plan of 29.9 billion dollars.

According to the President, the money if approved will help to execute key infrastructure projects across the country between 2016 and 2018.

The Lagos socialite said that investing such huge amount into infrastructure projects would be perishable and affect the future generation.

“Let us invest money on things that will bring returns and put smiles on the faces of Nigerian citizens,’’ she said.

In her response, Akande said that the country needed to re-diversify in the agriculture and solid mineral sector, especially now that oil was not accruing the desired revenue.

She said that the country would not progress if it did not identify its challenges and find solutions to them.

She said that LCCI was planning to have a rice investment, adding that LCCI would take leadership position on industry, trade and investment.

Also, Mrs Kema Chikwe, former Minister of Aviation urged the LCCI to take control of the business sector to attract more investors into the country.

According to Chikwe, in Nigeria, seasonal fruits such as mangoes are allowed to waste due to lack of processing and storing facilities.

She decried the importation of tomatoes which had become expensive because of high cost of clearing goods at the port

Chikwe added that Nigeria was capable of producing its own.



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