Post Covid-19: Egba Chief Imam provides panacea for economic recovery - SALIENT TIMES ONLINE

Post Covid-19: Egba Chief Imam provides panacea for economic recovery

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By Aremu Sosanya


The newly installed Egba Chief Imam, His Eminence Sa'adallah Bamigbola on Tuesday advocated for the public-private driven initiative in the bid to fix the energy sector and find a lasting solutions to the epileptic power supply in the country.


The Chief Imam also called for the  encouragement of private sector in generation and transmission of energy, saying constant electricity generation would reduce cost of production, increase employment and wealth creation. 

The Chief Imam of Egbaland, His Eminence Sa'adallah Bamigbola disclosed this in Abeokuta, Ogun state capital while addressing journalists.

Imam Bamigbola in a speech read by the Wakeel Musulumi of Yorubaland, Edo and Delta, Sheikh Iskeel Lawal Sugar also called on government to rescind the decision of banning importation of generators saying that the plan would only encourage smuggling of the products, calling on federal government to revive the power sector. 


The Octogenarian equally advised the federal government to stop importation of petroleum products, as it will wreck the economy of the country. 


He added that, for Nigeria to experience buoyant economy from the global pandemic ravaging the world which brings about recession being experienced globally, the nation needs to work hard for her economic recovery by building more private refineries. 


"There is no doubt that our country is currently in a turbulent period following the global pandemic ravaging the whole world which brings about economic recession being experienced globally, particularly our dear country Nigeria. 

"For our country Nigeria to experience buoyant economy once again, we need to work hard for her economic recovery by building more private refineries. 

"NNPC must also be ready to be the off-takers for the refined products by supporting and buying their products by 60%. Through this, the repayment of the loans obtained for this project by the private refineries should be guaranteed by NNPC. 


"I am aware that licences have been issued to a good number of them, but they are yet to take off. It is only when we start refining the crude here in the country, that our external reserves will receive a boost."