Feature: Tinubu should Cash in on the Commercial Opportunities availed by the Ukrainian Conflict


By Ayo Akinfe


I just hope that all these businessmen Tinubu is meeting with are telling him that he has to cash in on the commercial opportunities the Ukrainian conflict offers

[1] All receipts that accrue from crude oil in excess of $60 a barrel should go into a special infrastructure fund

[2] All receipts that accrue from crude oil in excess of $80 a barrel should go into a special economic diversification fund

[3] All receipts that accrue from prices in excess of $100 a barrel should go into a dedicated clean energy fund

[4] Basically, we should see this as our last chance to diversify the Nigerian economy and invest the bonanza judiciously. Tinubu should see the conflict as a means of raising capital for economic diversification

[5] For me, the bulk of the cash has got to go towards supporting manufacturing. Whether we like it or not, manufacturing has got to take over from religion, Nollywood and owambes as our favourite national past time

[6] We must also spend at least $20bn annually on key infrastructure like railway networks, ports, power plants, roads, power plants, airports and shopping malls

[7] Whatever we do, the goal has got to be to wean our states off federal allocation, with the ambitious target of making a few self-reliant by 2025

[8] I will not invest in education, healthcare and housing at the federal level as I believe that is the responsibility of state governments

[9] We should also offer to manufacture munitions for Russia and Ukraine. Everyone else profits from our wars, so why shouldn’t we cash in on theirs?

[10] Nigerian states should also lease land to Ukrainian grain companies and food processors in a bid to get them to relocate. We should aim to fill the void brought about by a drop in Ukrainian output


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