Don’t make Nigeria a debtor nation, warns Afenifere FG, NASS – Blueprint Newspapers Limited

Buhari speaks with Senate Speaker Ahmed Lawan and Representative Speaker Femi Gbajabiamila during the former’s previous visit to the National Assembly

The panyoruba socio-political organization, Afenifere, on Thursday warned the country’s executive and legislative branches of government not to turn Nigeria into a perpetually debtor nation.

Afenifere issued the warning in a statement made available to journalists in Ibadan by his National Publicity Secretary, Comrade Jare Ajayi.

The socio-political organization panyoruba specifically warned

the National Assembly to cease acceding to any loan request made by the executive.

He expressed dismay at the alleged disclosure by Finance Minister Ms. Zainab Ahmed and the Debt Management Office (DMO) that 74% of the country’s revenue is spent on debt service.

The Pan Yoruba socio-political organization said that “as of September 2021, Nigeria’s public debt was 38 trillion naira and has been steadily increasing, adding: ‘DMO is an agency of the federal government which manages various government debts.

“It was also not reflected in the standard of living of Nigerians. In fact, it seems that the deeper Nigeria sinks into the debt dungeon, the lower the standard of living,” he said.

Afenifere added, “It is evident that the more money Nigeria earns from funds obtained through loans and grants, the more the welfare of Nigerians suffers.”

Alluding to the announced loan of N250 billion from the World Bank “to address environmental degradation in the 19 northern states and the Federal Capital Territory (FCT), Afenifere said southern states of the country also deserve attention, saying: “when we talk about environmental degradation, it is a known fact that many places, especially in the South-East and South-South have been rendered almost unusable by constant erosion. Such places also deserve similar attention.