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No More Financial Support For Nigeria – EU
The European Union (EU) ambassador to Nigeria and ECOWAS, Michel Arrion says EU cannot promise further financial assistance to Nigeria.
Arrion made this known at a lecture which the IBB Golf Club organised in Abuja.
The lecture had as its theme: ‘40 years of European Union in Nigeria: Lessons learned and the way forward’.
Arrion said Nigeria remains EU key partner in view of the role it plays in global affairs.
The envoy added that the union would scale up its efforts towards the country’s institutional, political and economic development for a more prosperous future.
He said Nigeria could not be said to be poor, as it has enough resources to meet its developmental needs.
Arrion called for a more equitable distribution of the nation’s wealth to ensure growth and stability and unleash its enormous economic potentials.
He explained that the combine aides to the country were about ten percent of its country’s annual budget.
According to him, the official development assistance (ODA) flow in Nigeria is about $2.5 billion yearly, which corresponds roughly to about 10 percent of the federal budget (N7,3trillion or $24 billion).
This, he said has raised the question of should EU continue to give aide to Nigeria.
Arrion, however, said the regional block would scale up its efforts towards the country’s institutional, political and economic development for a more prosperous future.
“We are not offering more financial support, we are proposing more political and policy dialogue, technical assistance, capacity building, training, transfer of technology,” he said.
“We also proposing more advocacies for more private investments and other innovative sources of funding.”
The envoy, therefore, called for improving in tax collection to finance the development of the country.
According to him, Nigeria must find alternative funding to ODA including improved tax collection which must be improved at least five times more and also spend better.
Quoting Price Water Cooper (PwC 2016), he said: “Nigeria collects about N5.5 trillion or 18 billion dollars per year.
“About 10 million people (10 percent of adult population) are registered for personal income tax (half of them in Lagos).
“The rate of VAT compliance by registered entities is about 12 per cent. The rate is lower for corporate income tax nine per cent.”
He also said Nigeria must attract more foreign investment five times more, to reach the level of Angola or Vietnam for instance and put in place more and better Public Private Partnerships.
Arrion said the evolution of the vibrant relationship of equal partners between Nigeria and the EU was founded on shares values and aspirations and mutual trust.
According to him EU in its 40 years of engagement with Nigeria had identified development priorities, funded projects to stimulate the Nigeria’s economy, reduce hunger and disease.
He said the union had also helped to enhance institutional capacities, strengthen governance and fight insecurity in Nigeria.
Chris John
July 2, 2017 at 4:29 pm
A very good and welcome development for naija. Let Britain help naija
Okafor Vitalis
July 1, 2017 at 9:33 pm
EU is using style telling zoogeria DAT there is fire on the mountain.
Tochukwu Grand Finale
July 1, 2017 at 7:58 am
That’s good
Simon Eguji
June 30, 2017 at 9:40 pm
EU know that Nigeria was an EXPIRED British Amalgamation. Belong to the past
Precious Ukomadu
June 30, 2017 at 9:27 pm
Udeh Olisah
July 2, 2017 at 11:07 pm
Lolz
Frieday Careful
June 30, 2017 at 6:57 pm
Excellent move
Usani Utum
June 30, 2017 at 6:17 pm
Have you been supporting before
Rose Godwin
June 30, 2017 at 5:11 pm
Good
Gabriel Uzoma
June 30, 2017 at 5:08 pm
Why, after we have kept own money in Swiss Banks
Godswill Arunsi Ulu
June 30, 2017 at 4:45 pm
Good, at least, when they have less help and less money to steal at the expense of the poor masses, they will use their God-given brains to think on how to generate money internally, not only depending on oil and foreign aids…
Can anyone believe that our leaders have been receiving such amount without any accountability. I so much thank God for this revelation and decision by the EU, I will also want other international bodies to follow suit…
Nigeria is finished!!!
Mishael Izunwa
June 30, 2017 at 12:12 pm
They wants more just like Oliver twist.
Mishael Izunwa
June 30, 2017 at 12:10 pm
Yes, let their pocket run dry. Looters
Samuel Egungwu Ude
June 30, 2017 at 11:05 am
Great!!! Nigeria is a ghost country, a BIG FRAUD if you like.
Frank Ahiakwo
June 30, 2017 at 10:59 am
Deport buhari back.
Samlaw Interiors
June 30, 2017 at 10:57 am
GOD bless you people
Dubem Ozioma
June 30, 2017 at 10:26 am
Good move
Godwin Edet Sunday
June 30, 2017 at 10:00 am
That is good….
Let the animal kingdom fall…..
Ezedimma Oresi
June 30, 2017 at 9:45 am
OK but all the monies you guys have been what is the effect in the Zoo
Jimec Ezeh
June 30, 2017 at 9:25 am
We need justice and not your monetery suport that never comes for free
Jimec Ezeh
June 30, 2017 at 9:22 am
Please we justice and not your money, EU
Sylvanus Eberechukwu Chukwukere
June 30, 2017 at 9:11 am
Zoo has finished
Ekeson Markdon
June 30, 2017 at 9:04 am
No more money for baboon and monkey to loot in zoogerian
IG Nwaogalanya
June 30, 2017 at 8:58 am
You are even wasting your time at the first place to financed Nigeria as a dumbed country,
Ezinwa Na Ukwa
June 30, 2017 at 8:53 am
That’s good,becouse Nigeria is a fraudsters a country criminals full?
Vincent Ambrose
June 30, 2017 at 8:48 am
very gud but late
Jorge Ville Reixa
June 30, 2017 at 8:05 am
Good news
Kelvin Orite Ikiogha
June 30, 2017 at 7:58 am
good one we no need una money
MB Yazeed Abbare
June 30, 2017 at 7:51 am
with the nigerian senior pilot PMB nigeria is self reliance! Thank u
Samuel Okparaocha
June 30, 2017 at 7:49 am
I love that
Dike Uche Biafra
June 30, 2017 at 7:41 am
Is a welcome development
Bukayo Ogunlade
June 30, 2017 at 7:37 am
Is EU menacing?
Paul Nworgu
June 30, 2017 at 7:03 am
goodnews mehn
Nsikakabasi Umana
June 30, 2017 at 6:23 am
Good for Nigeria and no more arms supply to Boko Haram.
Emeka Emmanuel
June 30, 2017 at 6:18 am
We are gland that EU is releasing that Nigeria has no future
Edu Udousoro
June 30, 2017 at 5:49 am
I know the EU are serious in providing enough finances to terror groups,hamas, Hezbollah etc.etc.,but EU must not forget to funds Boko haram too.
Citylife Light
June 30, 2017 at 5:08 am
Very good people ,the money don’t get to the people .it get in to their pockets.
Biafra Uche
June 30, 2017 at 4:37 am
game over. BIAFRA IS A SPIRIT!
Chidi Umenze
June 30, 2017 at 3:45 am
Awesome!!!
Neymar Neymar
June 30, 2017 at 3:27 am
Nice on Eu, Biafra has come to stay.
D Turn Byturn
June 30, 2017 at 3:23 am
Chijioke Nwa Jioke
June 30, 2017 at 3:02 am
Very very good, all hail Biafra.
Dion Nick
June 30, 2017 at 3:01 am
Just the beginning of wisdom.
Ikemefuna Akakanma
June 30, 2017 at 2:30 am
God thanks you…Hausa/Fulani must come to table for referendum
Anthony Ugonnia Holymass
June 30, 2017 at 1:13 am
NICE MOVE BY EU. WITH BRITISH LEAVING NOW THERE WILL BE NO MORE CORRUPTION IN EU..
Joan Odiachi
June 30, 2017 at 12:41 am
Who will be Happy Giving Aids , When the President of a Country is Wilfully Wasting Hard Currency Parking a Jet that Runs a Bill of Millions of Pounds for Over 50 Days .
Europeans are Not Stupid You know
Joan Odiachi
June 30, 2017 at 12:35 am
Good
Lugard Sydney Luggy
June 30, 2017 at 12:23 am
Lugard Sydney Luggy
June 30, 2017 at 12:22 am
Christian Asuquo
June 29, 2017 at 11:17 pm
good news…. 2017 budget in another big blow
Bala Haruna
June 29, 2017 at 10:56 pm
What about PMB wish list…? ..have the EU finished with it…pending or keep in view(KIV)
Lugard Sydney Luggy
June 30, 2017 at 12:22 am
Hausa corrupt politicians will die of hunger this time that biafra is leaving Nigeria
Lugard Sydney Luggy
June 30, 2017 at 12:22 am
Neymar Neymar
June 30, 2017 at 3:34 am
Yea and God bless u lugard Sydney luggy . them will suffer all of them even some our politician in Biafra land is going to die, because were are ready for them this time, Biafra has come to stay no two ways about it. All hell Biafra and our leader Nnamdi KANU .
Azubuike Franklin Chibuzo
June 29, 2017 at 10:47 pm
All the financial aid given Nigerian government ends in the pocket of those criminal politicians
Sunday Onyekachi
June 29, 2017 at 10:46 pm
Andybest Bush
June 29, 2017 at 10:44 pm
You people have too much money we know but guys never ask the ones you gave what did they did with it b4 sending another one pls my advice to you people is for guys to keep your money for now the problem of Nigeria is money the fact is that Easterns / southerns want referendum to go so many of there busines men stop bcos of freedom, so please Eu and Ecowas you people should find a way to make peace in Nigeria not money
Chuks Ejie
June 29, 2017 at 10:28 pm
eee they should start sending it to biafrans
Danny Best
June 29, 2017 at 10:16 pm
I’m so elated about this latest development. They better stop because the money goes to the cabals in the north. South are not benefiting anything from this said aid.
Chekwube Ojekagu
June 29, 2017 at 10:15 pm
Lovely
Asualor Okwy Nelson
June 29, 2017 at 10:15 pm
I like this d zoo must go down
Kenmally Mba
June 29, 2017 at 10:08 pm
Until they announce d date for BIAFRA Referendum.GBAM.EU Ndewo!
Princewel Jose
June 29, 2017 at 10:01 pm
Do you know how much Nigerian is owning
Esomchi Prince Echem
June 29, 2017 at 9:59 pm
https://youtu.be/3OVB6aVSaKo
Gally Adol
June 29, 2017 at 9:52 pm
Zoo must fall
Christopher Christian
June 29, 2017 at 9:50 pm
Good news
Nweze Uchenna
June 29, 2017 at 9:48 pm
Just d beginning
Emeka Ani
June 29, 2017 at 9:48 pm
Thank you Jesus
Ikechukwu Okafor
June 29, 2017 at 9:45 pm
That’s very nice. Lemme see how they will cope.
Mopki Mako Mopki
June 29, 2017 at 9:45 pm
I’m happy with that Nigeria need to be deny all of this support because all the financial support given to them the embezzle it
Isaac Okeke
June 29, 2017 at 9:45 pm
Good
John Honesty
June 29, 2017 at 9:44 pm
Everyone knows that the zoo has expired
Ifeanyi Ogbonnia
June 29, 2017 at 9:44 pm
Goodnews
Nkonye Chibu Ugwonu
June 29, 2017 at 9:43 pm
Good. When ND Avengers were fighting, they tell us on daily basis how much lost, short fall in lifting crude oil because of bumbing of oil pipe lines, how much per barrel but since peace is restored, its total silence. Money returned, how much unknown. Money recovered through whistle blowers, nobody know how much rather, all we hear now is loan – loan – loan.
They celebrated APC victory that all corrupt officials and politicians will die in prisons. Body language celebrated. Fake trekking were celebrated
Gally Adol
June 29, 2017 at 9:57 pm
Avengers are not freedom fighters they only fight for there pocket
Nkonye Chibu Ugwonu
June 30, 2017 at 6:08 am
ZOMBIE, if you dont understand, respect yourself and hide your illiteracy in the public. Did l refer to them as Freedom Fighters which of course they are but that wasnt my point, but made reference interms of accountability. l mentioned or questioned why the silence now that things are going well over there.
Hmmm, IPOB Freedom Fighters yet kidnapping to raise money for what nah? They transported lgbos from near by States to PH and claimed mass turn out. l am here in Aba and saw things with my eyes.
Success Brown Onuoha
June 29, 2017 at 9:42 pm
Hahahahah nigeria is dead already
Nmma Isioha
June 29, 2017 at 9:41 pm
Biafra or Nothing
Jonah Doro
June 29, 2017 at 9:41 pm
Hahahaaa… All Nigeria EXECUTHIEVES AND LEGISLOOTERS.. I hail una oh… buhari well done Sir…
Christian Bassey
June 29, 2017 at 9:40 pm
THIS IS THE END OF NIGERIA
Engr Ezurike Philip Chinecherem
June 29, 2017 at 9:39 pm
Good news
Toshiba Egbonuba
June 29, 2017 at 9:37 pm
thank u very much for dat
Saviour Iwu
June 29, 2017 at 9:37 pm
Good for Nigeria
Timothy Wiseness
June 29, 2017 at 9:35 pm
The zoo must fall