The pan Yoruba socio-political organization, Afenifere, on Thursday, called on the National Assembly to henceforth stop acceding to every loan request brought before it by the President, Major-General Muhammadu Buhari (retd.) led executive arm of government.
The group also cautioned the executive and legislative arms of the government against turning Nigeria into a “perpetual debtor-nation”.
Afenifere’s admonition was contained in a statement titled, ‘High Debt Profile: Afenifere Cautions FG’, and signed by its National Publicity Secretary, Comrade Jare Ajayi.
Afenifere spokesman argued that the debts incurred by the administration do not reflect in the quantity and quality of infrastructural developments in the country.
The statement read, “Neither was it reflected in the living standard of Nigerians. As a matter of fact, it looks as if the more Nigeria is sinking into the debt dungeon, the more the standard of living goes down. It is apparent that the more money Nigeria earns along with monies being obtained in form of loans and grants, the more the welfare of Nigerians suffer.”
While alluding to the announced N250 billion to be borrowed from World Bank to solve environmental degradation in the 19 northern states and the Federal Capital Territory (FCT), Afenifere maintained that states in the southern part of the country deserve attention too “when we talk of environmental degradation”.
“It is a known fact that a lot of places particularly in the South East and South-South have been rendered almost useless by incessant erosion. Such places equally deserve similar attention.
“Reports have quoted the Coordinator of Nigeria Erosion and Watershed Management Project, Salisu Dahiru, as saying that the project for which the said loan was being sought is “to address the issue and challenges of environmental degradation in terms of deforestation, erosion, stormwater management and meeting the needs of the people in terms of food production”.
Ajayi, however, maintained that all the points raised to justify the project equally apply to the south.
“Other than desertification that is greater in the north leading to poor water storage, all other issues mentioned equally apply to the south. There, however, is no doubt that the activities of bandits and terrorists are far more responsible for the inadequate food production in the north and even in the southwestern parts of the country in recent times.
“Meaning that if terrorism was not brought to an end, the loan committed to such a project in the north might just go down the drain as it may not achieve the announced reasons for obtaining it.
“Beyond the issue of the propriety or non-propriety of the said project, Ajayi insisted that the government should stop its tendency to go borrowing each time it thinks of executing a project.
“Where do monies being generated from local and other foreign sources go? What about several billion recovered from corrupt public officials as announced at various times by this administration? Apart from regular payment of salaries, where do these monies go?”
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