Showing posts with label Emmanuel Obe. Show all posts
Showing posts with label Emmanuel Obe. Show all posts

Thursday, July 26, 2018

$322m Abacha Loot: Separating Politics From Economics

By Emmanuel Obe
A lot of Nigerians have expressed their anger (and rightly so) over the planned disbursement of the $322 million recovered from the loot of the late Gen. Sani Abacha to 302,000 poor households in Nigeria.
*Abacha 
As the argument of those opposed to the planned disbursement goes, it appears unreasonable to just take out money and share out to people that did not work for it.
For them it makes no economic sense when that money, amounting to about N115 billion, could be invested in tangible projects that will generate revenue for government, employment for the youth and goods for the household. Some of the opponents of the policy have even gone ahead to recommend psychiatric tests for the government officials that proposed the disbursement on the grounds that it looked rather insane to share out money in that fashion.