Opinion: What The Missing 20 Billion Dollars Can Do To Nigeria

The recent revelation by the former CBN governor that the sum of 20  billion was missing was a huge surprise to all Nigerians. Looking at the  sum of the money, I Kept on wondering how kind of money will disappear undetectable.

The sum of 20 billion dollars is equivalent to over 3.2  trillion naira. That is the equivalent of our national budgeted in 2009,  all of that amount stolen without Nigerians going mad? Imaging what the sum of 20 billion dollars can do to Nigeria, I  started crying.

This is because, with 20 billion dollars, I can  transformed Nigeria in a single year. Let us look at what 20 billion  dollars can do to Nigeria. The issue of electricity is among the major  problems facing Nigeria. Successive government from 1990 to date has
spent over 30 billion dollars to generate sufficient power for Nigeria.

That is yet to be achieved. South Africa was able to generate 10  thousand mega watts with just 1 billion naira. Under my leadership,  Nigeria will look for South Africa’s contractors, negotiate with them  and 10 thousand mega watts could be generated for Nigeria. 1 billion is  gone – remaining 19 billion. Unemployment is still a very large problem  that breeds poverty to many Nigerians, with just another 1 billion  dollars, which is equivalent to over 160 billion naira, 37 steel rolling  companies like the DANA steel in Katsina that employ about 3000 people  directly and indirectly can be build in each state of the federation including the FCT.

That will give employment to over 120 thousand  Nigerians. One may argue that it is still not enough as their are over  50 million unemployed Nigerians, agreed. Employment is very important,  we can still take another 1 billion dollars. That will be minus 3
billion. With that 1 billion dollars, we can build 3 new Ajakuta steel  company like that of Kogi in Kano, Lagos and Enugu. That combine, can  generate employment to over 100 thousand Nigerians combine. Housing is  still another major problem for Nigerians. The most recent statistics  put it that over 75 percent of Nigerians are tenants. In socialist  system like that of China, from 1940s after the revolution to 2006, the  government relocated a whole region by re settling the people and  constructing 50 million houses. Not here in Nigeria that the federal  government can only build the maximum of 10 thousand houses like the
Gwarimpa housing estate. With just one billion dollars (160 billion naira), my government will construct over 1 thousand affordable house as initial plan. Or we can construct over 80 exotic houses like that ones found in the Lagos Banana island at the cost of 1.6 million dollars.

With 1 billion dollars, my government can construct 3 of the likes of  Presidential villa (state House) in 3 major state of the federation as  charity houses. Four billion is gone, remaining 16 billion dollars. Road  is the major means of transport in Nigeria. This is because most  Nigerian are poor. With one billion dollars, we can construct a new road from Sokoto to kaduna, from Kaduna to Abuja and from Abuja to Ibadan. So  you se what a committed government can do with just a single billion dollars.

Remaining 15 billion dollars now. Just recently Niger Republic  – one of the worlds poorest countries constructed a 30 thousand liter  capacity refinery with just 400 million dollars in 3 years. With just a single billion dollars, I will construct two 50 thousand large  refineries in Rivers and one in Ondo state. Remaining 14 billion dollars. Education is in comatose in Nigeria. Only 8 percent of our  national budget is allocated to education against the international  standard of 26 percent. Even the 8 percent allocated, less than 4 percent will reach the target places. Al Azhar university in Egypt is the world oldest university. It is still a success story as virtually every course is studied in the university. With just taking another 1 billion dollars, I shall be able to construct 3 new Al Azhar universities in Zamfara, Yobe and Taraba states. Now remaining 13 billion dollars.

Privileged Nigerians travel abroad to mostly Germany, USA, UK , Saudi Arabia for treatment. With just a billion dollars, I shall be able to construct and equip 10 new King fahad hospitals like that of Saudia Arabia in Nigeria. I shall also formulate a law against traveling out side for treatment. Now 12 billion naira remaining. I shall use one million Naira to carry out effective census of all Nigerians. The living standard of Nigerians is very high, their life expectancy is very low. This is because of suffering as a reult of object poverty. They cannot afford even the basics of life like food, clean water, health services etc. Over 50 percent of Nigerians live on less than one dollar (160) per day, poverty is very high in Nigeria. I did not talk about how I will eradicate poverty as your President. Out of our remaining 11.9 billion dollars, I will use all the 11 billion dollars and disburse it to all Nigerians.

We are about 170 million in Nigeria. If you are to divide 11 billion dollars ( 1.7 trillion naira), each and every Nigerian, men, women, young, old, sic, mad etc will get the sum of 10 million naira (85 thousand dollars). I will create a national minimum wage. I will open bank accounts a deposit the money to my fellow compatriots. The rest of the remaining 800 million dollars, I
will buy 15 thousand tractors for farming, I will create social networks for Nigerians, I will connect all Nigerians online, and finally, I shall save the rest as definitely some amount must remain.

See what good can come out of 20 billion dollars. The missing 20 billion dollars was only looted by some few people. Perhaps less than 9 people.  This is not to talk of the missing 20 billion dollars excess crude accounts money. The pension scam and a lot of other money.

Nigerians must rise up to expectations. If not our children and grand children and all our successors shall not forgives us for killing their future.


Comrade Abdulbaqi Aliyu Jari
Usmanu Danfodiyo University


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One Comment

  1. ASUOKPU/UMUTU marginal oil fields is operated by Seplat Petroleum. Seplat is owned by Prince Nasiru Ado Bayero, cousin to the Central Bank Governor Lamido Sanusi. This oil field has the capacity of 300,000 barrels of oil daily. This translates to $30million dollars daily at average benchmark of $100 dollars per barrel. Deducting all sundry taxes, royalties etc , this field can yield $12billion dollars daily for the owners .

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