Why America Is Not Selling Needed Weapons To Buhari's Government — Anayo Nwosu

This may interest my friends who are avid  followers of international politics.

We all thought that the USA would immediately sell the Cobra aircraft  and other ammunition needed to help our armed forces decimate Boko Haram to Buhari's government once the corrupt Jonathan was out.

Anayo Nwosu

This feeling was heightened by the accolades our president received during his epochal state visit to the USA. He was seen as an unblemished leader. He was nearly canonized by Obama.

Not only has USA refused to sell the required weapons to us, they also are blocking us from buying fairly used US-produced hardware from Brazil and Israel.

America hinges their blockages on Nigeria's abuse of human rights and corruption.  The same accusations they used  against Jonathan's FG.

But, corruption fighting disposition of Buhari's government has received world acclaim. So, what's wrong? They quote Leagh's Law that forbids US government from selling ammunition to countries accused of human rights abuses. So, is ours the sin of Adam that is transferable to successors?

I'm sure that USA would find another excuse even if we have a saint as president.

The actions of America and its allies would only be understood by locating America's foreign interests in Nigeria.

Is Nigeria's refusal to allow USA to establish a permanent military base at the Gulf of Guinea
part of the problem?

Have you not noticed that Nigeria is presently more interested in solving its internal security problems than campaigning for the democratization of the UN Security Council? It is called Distraction.

The permanent members of the security council feel nauseated by Nigeria's audacious demand. The same annoyance felt by Oba Akiolu on the prospect of having an Igbo governor in Lagos.

The country needs to be kept busy with survival struggles.

Have you not noticed that many of your very wealthy relations would never help you to be self reliant but would be happy to give you enough to remain dependent on them. Some vicious ones would even take open measures to cripple you when you dare to succeed.

That is one of the ways to maintain their firm control of you.

It's not different in international relations and politics. It is allowed.

IF THE $29.96bn LOAN  IS APPROVED THEN BUHARI MUST BE RE-ELECTED

Many smart politicians interested in running for Nigeria's presidency in 2019 would ensure that the PMB's proposed $29.96bn loan request is not approved by National Assembly.

If the loans are approved, it would take another 13 months for the providers of the loans to approve and accept documentation demanded and provided. By this time, the campaign for the next elections would have started. Campaign issues would then be: who shall appropriate the loan? The applicant of course!

The banker instincts in me tells me that the lenders would have to analyze to the hilt, the possibilities of PMB returning to power in 2019. They would be worried about who would spend the money as only PMB is the non-corrupt Nigerian politician alive, according to his ardent supporters.

The lenders know that successor governments in Nigeria rubbish programs and commitments of their predecessors hence the need to be cautious. Jettisoning programs of a predecessor is a big red flag to the deterioration of the loans. Securing a continuation guarantee by way of a pledge of Nigeria's assets worldwide now works for offshore lenders to Nigeria.

The lenders shall definitely ask for the details of the underlying projects to be financed.

Unlike the Senate that want the information for political reasons, the lenders would ask for detailed feasibility studies, environmental impact assessment reports, repayments generative capabilities of the projects and how the cash flows of the government are managed.

Many would be surprised if the lenders ask the FG to restructure the polity to reduce wastage and to sack many workers.

Only a foolish lender would approve a loan for a project to be sited in areas where the safety of the contractors is not guaranteed. They will not approve the loan if the projects would be destroyed after construction.

Lenders to Yola Electricity Distribution Company are still reeling in their not well considered lending for a project  located in the Northeast. They underestimated the impact of Boko Haram. While the company has declared a force majure, the loan for the acquisition of the that national asset remains unserviced.

Boko Haram, Niger Delta Avengers and IPOB are very serious factors to be considered by the lenders. They are even more critical than whatever guarantees or repayment plans submitted by the FG.

If PMB has been told by his advisors that the $29.96bn loan would be very handy, he should please talk to an independent banker. It wouldn't be very easy.

Clearly put, if the National Assembly eventually approves the loan early next year, that's 2 years into PMB administration, it will take the lenders over 3 months to approve the loans; 10 months for the government to meet conditions preceding loan draw down. That in the earliest would be 11 months to the end of PMB's first term.

Since not all the loans shall come from one lending source, there is a possibility that some smaller amounts like that from AfDB would be accessed next year.

Do not discount the possibility that the lenders would freeze draw down until the results of the re-election are known.

Any change in the health of our president shall also affect the loans application and approval as more emphases are being paid to the incorruptibility of the president not the institutions.

Surely, approval of this loan application in the National Assembly is an endorsement of the re-election of PMB. The money would be available for spending during his second term but not earlier.