Accountable Borrowing: The South Africa Example.
I have consistently maintained that borrowing, in itself, is not a bad thing. Every nation borrows. The critical issue is not the act of borrowing, but what the borrowed funds are used for and whether citizens can clearly see and measure the impact of such borrowing in their daily lives.
There is a lot to learn in the open and transparent manner in which South Africa handled its recently secured a $1 billion loan from the New Development Bank, with a clearly defined purpose. Publicly announcing the targeted purpose of the loan for all to know and monitor, upgrading water supply systems, modernising sanitation infrastructure, improving electricity distribution, and strengthening waste management services across eight major metropolitan cities, including Johannesburg, Cape Town, and Durban.
This is indeed what accountable borrowing should look like; the purpose is clear, the projects are identifiable, and the expected benefits to citizens are measurable. Such investments directly improve living conditions, enhance productivity, and stimulate economic growth.
In Nigeria, however, the opposite is the case: public debt has risen dramatically under the current administration, and its deployment is shrouded in secrecy from the people who will indeed pay back the loan. Today, our total public debt has increased from about ₦87 trillion in 2023 to nearly ₦200 trillion.
Yet, despite this unprecedented accumulation of debt, Nigerians are often left without a clear and detailed account of how these borrowings are being deployed to improve critical sectors such as education, healthcare, power, security, and infrastructure.
Borrowing must never become an end in itself. Every loan obtained in the name of the Nigerian people must be tied to specific, productive investments capable of generating economic value, creating jobs, reducing poverty, and improving the welfare of citizens.
Good governance demands transparency and accountability. The government must be able to clearly explain what was borrowed, where it was invested, and what measurable outcomes have been achieved. The ordinary Nigerian should be able to see and feel the benefits of every debt incurred on their behalf.
At a time when millions of Nigerians are struggling with rising costs of living, unemployment, insecurity, and declining purchasing power, fiscal discipline and prudent management of public resources are no longer optional; they are imperative.
Every borrowing decision should answer one simple question: How does this improve the life of the ordinary Nigerian? If that question cannot be convincingly answered, then we risk merely transferring today's burdens to future generations.
A New Nigeria is POssible. - PO
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The Nigerian electricity supply industry has continued to face a real and present danger of collapse despite the efforts made in more than two decades to initiate a reform of the sector.
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When the Obi/Kwankwaso campaign begins, tears will flow.
When election day arrives and you attempt to rig it, blood will flow.
We will not beg. We will not negotiate. We will respond with the full measure of what you deserve. No mercy will be shown.
Oyo teachers and students have been in the bush for 34 days.
Borno teachers and students have been in the bush for 34 days.
Kindly lend your voice and demand for their release.
2027 is Peter Obi's last shot at the presidency.
2027 is your last opportunity for Peter Obi to pull you out of poverty.
2027 is Nigeria's last chance for Peter Obi to rescue her from that structure of criminality, structure of corruption, structure of looting.
2027 is our last chance to be rescued from this worsening economy, and ravaging insecurity.
Irrespective of how the election goes, Peter obi will remain a wealthy man, a comfortable man, an accomplished man, and a fulfilled man.
The best and only opportunity to take advantage of Peter Obi's availability is this 2027, if not you will suffer. Think about your life 12 years ago, and think about it now. This is not about politics or political party. There is always a positive or negative consequence after every presidential election in Nigeria.
Those who fail to value the treasure they have because it is readily available, will eventually regret when such treasure becomes scarce and unavailable again.
Go out there, get your PVC, vote for Peter Obi and Kwankwaso (OK)
Vote for NDC, defend your votes and make sure it counts.
The Knife is in your hands, the ball is in your court. The choice is yours ✌️
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