#ElectionDay: US may cut foreign aid to developing nations – Industrialist

AN Industrialist, Chief Tomi Akingbogwu,  said on Wednesday that there might be less foreign aids from the American government to developing nations like Nigeria, given the victory of Republican Donald Trump in the US elections.

Akingbogwu said this in an interview with the News Agency of Nigeria (NAN) in Abuja, while reacting to the election of US President-elect, Donald Trump on Wednesday.

Akingbogwu said given the Trump’s victory, developing nations in the world might witness less of support from the new government in terms grants, considering the conservative orientation of the republicans.

He said the policies and programmes of the new government might not be totally favorable to Nigerians and other immigrants, based on the campaign speeches of the new President.

“America might play a lesser role in assisting developing countries  by coming to the needs of the needy nations.

“That means we in Africa will be on our own; that means there might  be less foreign aids from the new government.

According to him, if that happens, it is an opportunity for Nigerians who have become very successful in America to return home and support the rebuilding of the economy.

He said Nigerians had contributed in the building of the American economy over the years, noting that it was time for them to return and help to salvage the nation from recession.

The industrialist said Nigeria needed a lot of assistance to come out of recession, adding that the combined efforts of Nigerians abroad, especially in America, would contribute to rebuilding the economy.

He said there were many Nigerians in America who had several skills that could help to develop the country further.

According to him, government must create a special platform for Nigerian  professionals  interested in coming back from abroad to  invest.

He said part of the platform was for government to set aside a special fund for the professionals to access in taking the necessary steps in investments.

He also said government must also provide the needed infrastructure that would  encourage the Nigerian professionals from abroad to invest.

“If you are a specialist in some certain area, you can access special fund to develop your business in this area. This will attract so many of them.“