Nigeria Loses $7bn Annually to Poor Relations with Israel,
Says Expert
Former Director General of the Nigerian Institute for
International Affairs (NIIA), Prof. Bola Akinterinwa, yesterday said Nigeria
loses approximately $7 billion annually as a result of poor bilateral relations
with the Israeli government.
He explained that Nigeria’s relation with the Jewish nation
was categorised into political, economy and religion and it has suffered
severely due to the non-committal posturing of Nigeria.
Akinterinwa stated this at a one-day symposium geared
towards promoting partnership on Small and Medium Scale Enterprises (SMEs)
between the two nations.
He argued that Nigeria-Israeli diplomatic relations remained
lopsided, with only the religious angle flourishing, adding that a more robust
diplomatic relations could have yielded more positive results in both the
political and economic fronts, such as grants, low interest loans and knowledge
exchange to support Nigeria.
The symposium was organised by the Citizens Centre for
International Relations Research (RICC) and the Israeli Embassy with the theme:
‘Nigeria-Israeli Relations: Focus on SMEs, Agriculture and Solid Minerals.’
Akinterinwa said: “At least on a yearly basis, we are losing
nothing less than $7 billion on an annual basis. It cannot be less because
first, there is what we call grants in international relations.
“It is given to you. You do not need to pay back, then there
are loans, which they give you with long term moratorium on it. You will pay
back but the interest is low.”
Akinterinwa contended that “within the bilateral framework
of both nations,entrepreneurial development should be a major priority for job
creation and economic development.
“The religious dynamics of the partnership appeared stronger
than others, adding that Israel was always willing to partake in economic
development of Nigeria,” he observed.
Akinterinwa harped on the need for Nigeria to review her
relationship
with Is
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