Governance in every liberal democracy does not thrive in the face of recklessness and abuse of office using corrupt tendencies to divert public funds. Governance is all about accountability and good management of scarce resources for the sustenance and development of a sovereign society. Nigeria is not meant to be cloned and politically sold off using sheepish schemes and imposition of orders in the name of running a federal presidential system of government.
Global Initiatives For Good Governance (GIGG) is not comfortable with President Muhammadu Buhari’s drive to borrow 6trillion Naira to augment a tailored deficit budget or whatever jargon it is called. Nigeria deserves competent governance, not deception, efficiency and transparency not injustice. How would APC lead the Federal government to apply for a 6trillion naira loan in a situation where fuel subsidy syndromes linger and deeply bite Nigeria’s economic intestine? How would Nigeria borrow an extra 6trillion naira when the already incurred debts have not been paid, thereby increasing the risks of a sovereign debt crisis? The most damaging aspect is that these funds previously borrowed were not used justifiably to develop the failing economic strength nor have they been utilized to provide basic infrastructural facilities that had long been dilapidated across the nation.
Honestly, in consonance with the quotes of former APC Deputy Publicity Secretary, Timi Frank,” it is better for Mr President to sell Nigeria than to borrow 6trillion naira”. Where is this Country degenerating to? what outrageous and calumny-oriented budget is it? Our refineries had been kept in darkness without any sustainable steps by the government to revitalize them and we are here journalizing about further loans from foreign entities. Fulani herdsmen are marauding, attacking and butchering defenceless citizens of Nigeria without government counter security intervention and we are here talking about borrowing money. Our advocacy group openly challenges APC-led Federal Government to on a clean slate give good accounts of the utilization of funds she had already borrowed from the western world before applying for extra loans. To whom much has been given, much in turn is expected of him. We expect Mr President to concentrate on tackling security issues and provide relieving grounds for addressing them not raising memos for extra applications for borrowings. We also expect Mr President to work on viable modalities capable of transforming Nigeria into a fourth revolution industrial class instead of banking on the platform of constructive technicalities to project forces meant to siphon and cripple Nigeria’s economy.
Poverty in Nigeria is highly accelerated to the point that 85% of the citizens are languishing in hunger, abject penury if not pauperized. We continue to clamour for accountability and transformation and there is no force capable of gagging us against nailing the truth on the head when situations demand so. Last week, Intelligence reports from the Energy experts had it that Nigerian crude oil deposits would soon exhaust and there are no meaningful undertakings fielded to sustain the economy when the oil contents dry up. In which direction is Nigeria going?
The truth remains that Nigeria needs not to borrow to run the government because she has numerous sources of income ranging from government-owned economic crops, oil/ gas, internally generated revenues etc but to date, abject poverty is ravaging her citizens beyond measures. We, therefore, demand that the green chamber of the National Assembly rejects the application of Mr President for extra loan taking so that Nigeria will not be cloned into a perpetually economic quagmired State.
Chief Dr Emeka Kalu
Director General, Global Initiatives For Good Governance.