“We Have Been Able To Save Our Economy From Total Collapse” – Minister of Justice, Abubakar Malami

Abubakar Malami, Nigeria’s Minister of Justice and Attorney General of the Federation (AGF), has claimed that his department prevented the nation’s economy from going bankrupt.

Speaking at the Federal Ministry of Justice’s first top management retreat, held in Kano, Malami said that if P&ID had been successful in executing a $10 billion arbitral decision, Nigeria’s economy would have collapsed.

He added that the ministry’s numerous recoveries had contributed significantly to keeping the economy afloat.

Malami also informed those in attendance that the $311 million in recovered fund had been invested in crucial infrastructure projects, including the second Niger Bridge, the Lagos-Ibadan and Abuja-Kano expressways.

He said; “On economic front, we have been able to save our economy from total collapse, which would have been brought about if the P&ID had succeeded in enforcing an arbitral award of over US$10billion.

“We have also ensured the restoration of our country to the path of growth and development through the settlement of the multibillion-dollar adverse claims on the Ajaokuta steel plant.

“Our asset recovery drive has secured the sum of US$322million, which enabled the federal government to embark on empowerment programmes, which have taken over 100million persons out of poverty as part of the national social investment programmes.”