Wednesday 29 October 2014

Over $600 BILLION looted from Nigeria’s treasury since independence

A former President of the Academic Staff Union of Universities, Prof. Dipo Fashina, has said an estimated sum of $600bn had been stolen from the nation’s treasury since independence.

Fashina also said while only 15 per cent of Nigerians had struggled to acquire higher education since 1960, 54 per cent of Nigerians had no access to education.

The university don made the comments while delivering a speech at a national education summit with the theme ‘Towards a System of Education for Liberation in Nigeria’, organised by the four unions in the nation’s university system in Abuja on Monday.

The union s are the Academic Staff Union of Universities, Senior Staff Association of Nigerian Universities, National Association of Academic Technologists and Non-Academic Staff Union of Educational and Associated Institutions,

He blamed the underdevelopment in the educational sector on the adoption of Western neo liberal policies by some leaders in the country.

He specifically linked the woes in the sector to the decision of the Gen. Ibrahim Babangida regime to adopt the Structural Adjustment Policy, which attempted to run the education sector on market principles.

Credit: Fidelis Soriwei/Punch News

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