Body Flays NGF Over Sovereign Wealth Fund

The National Youth Council of Nigeria (NYCN) has decried Nigerian governors’ refusal to embrace the Sovereign Wealth Fund (SWF) as directed by the federal government describing it as a policy to undermine the future of the country.

Speaking in an interview with newsmen at the Port Harcourt International Airport, Omagwa, Vice President of the council, Mr. Marvin Yobana said the SWF, if operational will boost the financial stand or revenue generation of the 36 states as they will save for the future.

According to him, the governors’ action is like a father refusing to save money for the future of his children, stressing “the need for us to save what we have today for tomorrow because tomorrow is not certain”.

He noted that the monthly allocations and the budget, as well as their internally generated revenues were enough for their governors to carry out any development projects they have for the people.

“If they fail to plan for the younger generation, God will not forgive them. Every public office one is holding today is a trust for the people and definitely, if you fail to plan for the people, you have already planned to fail and Nigeria is not ready to fail at this time”, he said.

Yobana said: “That their so-called Nigeria Governors’ Forum is an illegal body that is not recognised by law, so using it to perpetrate all sorts of evil will attract the wrath of God on them”.

The NYCN vice-president, therefore, called on the federal government to go ahead and ensure that the sovereign wealth fund operates in the general interest of the people, pointing out that Nigerians have the right to hold their leaders accountable if they fail to save money for the future of the country.