The Diocesan Bishop of Ijebu North, Church of Nigeria, Anglican Communion, The Rt.Rev’d Dr Solomon Kuponu, has expressed worries over the huge burden of Nigeria’s foreign debts.
Kuponu in its Bishop Charge delivered to the 2nd Session of the 6th Synod of the Diocese, held last Friday, with the theme : Righteousness Exalts a Nation, held at St. Luke’s Church, Japara, Ijebu-Igbo, submitted that the country had borrowed beyond its limits.
The President of the Synod noted that the nation’s economy worsened day by day and almost in comatose.
He said: “These are indeed ominous times for Nigeria. Its uncertain political environment is accentuated by unparalleled insecurity nationwide and worsened by a near-comatose economy.
“Unmistakably, the country is broke. One sure sign of impending disaster is the rising debt profile and the attendant prohibitive repayment obligations.”
The Bishop called on President Muhammadu Buhari and his economic team to address this challenge and take effective steps to stop the drift.
Kuponu added that the profligate borrowing and spending by this administration had to stop, submitting that spending 90 per cent of its revenue on debt servicing is not sustainable.
“Rather than resorting to endless borrowing, the Federal Government should explore other avenues of boosting revenue. For instance, the opaque nature of the crude oil business should be made transparent and every dollar realised from crude oil sale must be properly accounted for. Fiscal leakages should be blocked,” he added.
On the 2023 general election, Bishop Kuponu, urged the nation’s youth to actively participate in politics.
He argued that Nigeria youths must make impact in the elections by creating innovative ideas that the electorate can buy into.
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If you want to keep your job and excel in your career, you need to do as I say,” Janet Abegunde’s boss said to her one fateful day. Miss Abegunde, a 24-year-old accountant who had just gotten her first job in one of the new generation banks, said she fell into depression after her boss sexually harassed her. Nigeria has borrowed beyond its limits ― Bishop Kuponu
Nigeria has borrowed beyond its limits ― Bishop Kuponu
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