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
BRICS bank approves $1 billion lifeline for South Africa’s struggling cities | Business Insider Africa https://t.co/VN0C0Xo8zp
Celebrating Global Excellence in Our Youth.
I am immensely proud to see the official tweet from former U.S. President @BarackObama , celebrating the incredible brilliance of our own Njideka @AkunyiliCrosby . Her exceptional talent has brought our shared history to the global stage through the unveiling of the first joint portrait of President Obama and former First Lady @MichelleObama .
This monumental achievement is a powerful reminder to Nigerian youths of what is possible when talent is met with hard work and discipline. Njideka, who is also the daughter of our late Dr Chike and Prof. Dora Akunyili, embodies the very best of the excellent Nigerian spirit.
As the great philosopher Aristotle rightly noted, excellence is not an accident; it is a habit, the result of high intention, sincere effort, and intelligent execution. Njideka's global success proves that true greatness comes from this consistent, daily dedication to one's craft.
I urge our young people to look up to
individuals like her as true role models. Success is not found in shortcuts, but in the relentless pursuit of excellence, honouring one's roots, and using your gifts to make a global impact. If we remain committed to merit and hard work, the new Nigeria we desire will be built by such exemplary minds.
With focused and hard-working youths, a new Nigeria is POssible. -PO
Tinubu is the president in charge of insecurity but Peter Obi is the one they are angry at for not answering insecurity questions. 😅🤣😀
Crazy things are happening..
@davido On behalf of educated Northerners, I want to make it clear that we do not share Rarara’s views. His actions and statements do not represent us.🤝
@dede_ashiogwu No long talk, you made it easy to Stan you. You’re wise beyond your years, you’re a real one, you know how to balance public celebrity life and private life, as much as you thank us we also thank you. And trust me I’m always here to finish useless people on your behalf. Muah
@dede_ashiogwu May life always be kind to you. May every step you take lead you closer to your dreams, may your efforts be rewarded, and may you never know failure that keeps you down. I pray you continue to rise, succeed, and receive all the beautiful things you deserve my sweet girl ❤️
Every time I sit down to type, I find myself struggling to put into words everything I’ve been feeling.
The emotions have been overwhelming.
Gratitude, love, reflection and appreciation!
Okay, let’s talk! Help me out; How do you adequately thank thousands of people who have held your hand through one of the most life-changing seasons of your life?
Almost a year ago, I walked into the Big brother naija house and emerged the first runner-up. While the opportunities, growth, partnerships, and experiences that have followed have been incredible, another great gift from this journey has been the people I gained along the way.
My Devasss…my Shaylas. ❤️
God bless you all.
You have stood by me with a kind of loyalty that still leaves me speechless. You have celebrated me, defended me, prayed for me, voted for me and loved me consistently, even on the days I felt least deserving of it.
The sunflower has become such a special symbol to me and perhaps that's because it reminds me so much of this journey.
People often talk about how a sunflower follows the light, but what they don't talk about enough is how it survives storms and still chooses to bloom.
You have been that light for me.
Because of you, I have continued to grow, to believe and to bloom!
So even though this post is coming later than planned, know that my gratitude has never been delayed. If anything, I've just been trying to find words big enough to hold it.
Thank you for walking this journey with me. Thank you for standing ten toes down. Thank you for loving me the way you do.
The petals are still unfolding, and the best is yet to come!🌻✨