Direct Tinubu,Atiku,Obi others to pay N500million each to defray  Nigeria’s huge debt profile – Afe Babalola  tells FG 

The founder ,Afe Babalola University, Ado-Ekiti(ABUAD) Aare Afe Babalola  has urged the Federal Government  to adopt smart  policy and courageous steps towards  reducing  the nation’s debt burden.

The legal icon,who  gave this charge during the 10th  unbroken Convocation Lecture of the university also suggested practical approach to defraying  the Nigeria’shuge debt profile.

At the lecture delivered by a Legal Icon, Chief Mike Ozekhome(SAN), titled : ‘The Place of Education in a crisis-ridden Nigeria’ ,the Senior Advocate of Nigeria  maintained that the Nigerians  would continue to wallow in  abject poverty unless and until  the huge debt is reduced.
Afe Babalola  said ” all those who pay N100million for Presidential Nomination Forms in 2022 should pay $50million because they have the money. All those who are contesting election should pay N500million Naira. All private jet owners in Nigeria should pay N500million because they have the money. All Oil well owners should pay N500million, all Private University owners should pay N500million, all private church owners should pay N500million. All private hospital owners should pay N250million” the founder said .
According to the founder,the  total debt profile  of Nigeria as at March 2022 is N41.60trillion adding that this  year, the proposed Nigeria budget are as follow: :Proposed Total Revenue – N9.73 Trillion, Total Expenditure – N20.51 Trillion,Total Fiscal Deficit – N10.78 Trillion while Proposed Total Debt Service – N6.56 Trillion
He hinted  that the proposed Budget for Federal Ministry of Education – N664 Billion (vi) Proposed Total Budget: N20.51 Trillion and as at June 2022, the domestic debt service rose to N5.24 trillion.

“Today, I make bold to suggest that we should set up a Committee to launch a Special Debt Liquidating Fund by all patriotic Nigerian.

“I will suggest that the Committee should be headed by President Obasanjo and consist of Gen. Gowon, Bishop Kukah, the President of NLC, President ASUU, President of Students Union, and members of Professional Association like NBA, NMA, NUJ, NSE, COREN, MDCN among others.

“I recommend that those on the list of the 21 richest men in Nigeria (Forbes 2022) should pay a minimum of $500million, after all we have 21 richest men in Nigeria (Forbes 2022), 10 richest men in Africa (Forbes 2022), 10 richest men in the world (Forbes 2022).

“In addition to this, Babalola says “all offshore account owners should pay $500million. All private airliners and ship owners to pay N500million, all professional associations to pay N500million. All former Presidents, all former Vice President, all former Senate President, all former House of Representatives Speakers and Ministers should also pay N500million to be paid in five instalments. All patriotic Nigerians who are above the age of 21 and not included in the above list should make voluntary donation of minimum of N1,000. The donation could be made in five instalments.” Babalola said .

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