Nigeria's rising debt profile portends failure for incoming administration — Rights Activist

The Good Governance Campaigners National Coordinator, Comrade Declan Ihekaire, said Nigeria's rising debt profile portends failure for the new administration.

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

According to him, the growing debt profile of the country will lead to a state of calamity where Nigerians will plead for a revolution.

"When you have ignorant people in government who are not honest with the citizens and don't know how to manage the country's resources internally and believe that the easy way out is to borrow, you will find yourself in this situation difficult situation in which the country finds itself.

"It's because we have a government that is neither truthful nor honest. It's a government that promised to minimize our debt profile.

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"This is a government that promised Nigerians before it came to power that it would raise funds to support the people, but what do we have today, a pile of debt here and there?

"This will lead the country to a state of calamity where Nigerians will plead for a revolution.

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

Declan IhekaireNigeria