March 2, 2016

FG urged to revive moribund industries with recovered loot

FG urged to revive moribund industries with recovered loot


By Samuel Oyadongha

Yenagoa—A Niger Delta activist, Sherrif Mulade has called on the Federal Government to plough funds recovered from corrupt politicians and public office holders into resuscitating moribund industries across the country.

Mulade, who is also the coordinator, Centre for Peace and Environmental Justice, CEPEJ, in a statement, said that reviving the industries would provide employment for the army of jobless youths in the country.

Some of the comatose industries, he said, include textile, steel rolling mills, coal and car assembly plants, among others.

He lauded the government for recovering looted funds stashed in offshore accounts, especially Switzerland, as well as the Swiss government for cooperating with the Nigerian government to return the toxic funds.

He said: “We understand that Nigeria is also in talks with the United Kingdom, United States and others to recover looted funds. This is indeed a welcome development and interesting time for Nigeria.”