Nigeria, A Half-Dead Sleeping Giant, Needs Urgent Blood Supply – Agbakoba | Independent Newspapers Limited
Newsletter subscribe


Nigeria, A Half-Dead Sleeping Giant, Needs Urgent Blood Supply – Agbakoba

Posted: Oct 30, 2015 at 9:53 am   /   by   /   comments (0)

By Temidayo Akinsuyi, Lagos

Former president of the Nigerian Bar Association (NBA), Chief Olisa Agbakoba, has challenged the newly confirmed Ministers to do their utmost in reviving Nigeria’s economy, which according to him, is in a state of coma.

Speaking in a chat with Daily Independent, Agbakoba who lamented a recent World Bank report which rates Nigeria 175 out of 180 countries with ease of doing business, said the incoming Ministers should strive to move the country out of 175 where she currently sits to 150.
While describing Nigeria as a ‘sleeping giant who is half-dead who needs urgent blood supply, he also challenged the federal government to roll out programmes that will improve on the lives of the masses, reduce unemployment and make the environment conducive for businesses to thrive.
“Nigeria needs a lot of repair work, a serious repair. The  World Bank report said Nigeria is 175 out of 180 countries. So, we are almost last. So, I hope by this time next year when that report is released, there will be more jobs, our roads will improve, educational system will improve and so on”.
“My challenge to the ministers is to take us from 175 to 150. At least, let us jump 25 places and grow our GDP by 3 percent to go to about 9 percent. I like to see our interest rate, the rate at which banks are lending money to go below 10 percent”.
“So, those are my expectations. I expect the government to carry out major social regulations, cater for the poor and the disadvantaged especially those who have finished working, pour money into the system through mortgages and loans, make sure that the banks do their work; not taking government’s  money and lending it for profit but looking for money for the private sector and lending it at a cheap rate”.
” If the government can get its good macro economic balance, then you will see that Nigeria will improve. Nigeria is a sleeping giant, half dead and there be no reason for this if we can wake up from our slumber, that will be fantastic”.
” By this time next year, businesses will be flourishing. You will just see money pouring into the system. But right now, Nigeria is like a patient that needs drip. We need blood to be supplied to the Nigerian body. I wish the Ministers can do this and I wish them the best” he said.