Nigeria’s rising debt profile portends failure for incoming administration — Rights activist

The National Coordinator of Activists for Good Governance, Comrade Declan Ihekaire, has said Nigeria’s rising debt profile portends failure for the incoming administration.

Ihekaire made the assertion while reacting to a statement credited to the Debt Management Office that the country’s debt profile could hit N77 trillion by May 2023.

According to him, the country’s rising debt profile will lead to a state of calamity where Nigerians will advocate for a revolution.

“When you have clueless people in government who are not truthful to the citizens and don’t know how to manage the resources of the country internally and believe the easy way out is to go borrowing, you’ll find yourself in this predicament the country is.

“That is because we have a government that is not truthful and honest. This is a government that has promised to minimise our debt profile.

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“This is a government that has promised Nigerians before it came into power that it would raise money to take care of the needs of the populace, but what do we have today, accumulation of debt here and there?

“This will lead the country to a state of calamity where Nigerians will advocate for a revolution.

“However, it is quite unfortunate that we have found ourselves in this kind of situation. The rising debt profile portends failure for whoever becomes the next president of the country because whoever is coming on board meets this kind of huge debt, the problem will be how to repay the debt and this will affect capital projects,” he said.