FG urged to deploy $150m Abacha loot for youth development

Joseph Effiong, managing director of UpdateAfrika Communications has charged the federal government with judicious spending of the $150 million looted by Sani Abacha, a former Nigerian military head of government, once it is released by France.

Effiong said the government should honour France’s recommendation on deploying the fund to development projects, and not allow it to go in the way of the previous ones.

Speaking on the Abacha loot, Catherine Colonna, minister for Europe and Foreign Affairs of France, said the repatriation followed the completion of legal processes.

“It was a long process, but we are glad that it was concluded. Sometimes, justice may be slow, but this is a very good achievement,” she said.

Colonna noted that discussions between the governments of France and Nigeria will commence in order to allocate the money to development projects benefiting the population, according to the priorities of the Nigerian government.

Effiong, who is also a youth advocate, specifically urged the government to prioritise the youth in its spending plan, considering their role in economic growth and development.

Read also: Nigeria to get $150m Abacha loot from France

He maintained that the youth, constituting about 70 percent of Nigeria’s population remained Nigeria’s greatest asset and undoubtedly, the highest investment of Nigeria’s socio-economic, political and technological development.

He said the government should harness the loot to set up and improve existing youth intervention schemes around education, skills, development, empowerment, employment, and technology, amongst others.

“Overall, investing in these areas will not only benefit Nigerian youths but the entire population, as it will create a favourable environment for economic growth and development,” he said.

Effiong also urged members of the public especially Civil Society Organisations (CSOs) and media to be on the alert to hold the incumbent government accountable by ensuring that the loot is ploughed back to the economy and not being re-looted.

Recently, Catherine Colonna, minister for Europe and Foreign Affairs of France, disclosed the country’s intention to return the loot in response to the request by the Nigerian Ministry of Justice to the government of France and more so, to strengthen bilateral relations between the two countries.

The disclosure by France has since stirred reactions from the populace who are demanding accountability from the government, ahead of the fund release.