…offers Solutions to Nigeria’s Economic Problems
By Maryam Idris
Foremost art collector and philanthropist, Prince Yemisi Shyllon, has offered tips that can help the Bola Tinubu government achieve optimal performance in the oil sector.
Speaking in a media chat in Abeokuta, Ogun State, Prince Shyllon advised government to change what he referred to as “endemically incompetent and corrupt top management of the Nigerian National Petroleum Corporation.”
He lamented perpetual fuel pump price increase and subsequent hardship on the citizenry despite removal of subsidy announced by the sitting government over a year ago.
He said, “Their (NNPC) recent financial report that shows they owe US$6 billion in current liabilities, while proposing to pay some US$3 billion as dividends, clearly shows how largely incompetent the top management and board of the corporation is.”
Speaking further, the Promoter of the Omooba Yemisi Adedoyin Shyllon Art Foundation (OYASAF) recommended a remodelling of Nigeria’s revenue generation from being predominantly extractive to regenerative, adding that in doing so, “Nigeria can grow its GDP to $2 trillion in the next 8 years, leading to a huge forex and employment gains in its economy.
“Nigeria’s political leaders need to cut down on their nauseating profligacy, wastefulness and blatant disregard for prudent cost-saving management of Nigeria’s economy,” Prince Shyllon has said.
Speaking on other sundry issues, Prince Shyllon counselled government to get rid of extraneous appointments in the public service.
“In doing this, some thorough private sector personnel management consultants should be engaged to determine their apparent superfluous numbers, inclusive of MDAs,” he stressed .
