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
I listened to the full 1hr 22min interview with @PeterObi yesterday and I am more than convinced on why he is a major threat to many career Nigerian politicians.
Man is willing to demonstrate an unwavering commitment to end hunger, poverty, insecurity and corruption. Bear in mind that Nigeria is largely preoccupied by state capture and a gang of political thieves who will do whatever in their capacity to keep Nigeria the way it is at the moment.
Peter Obi represents a new order, a total departure from transactional politics, contract inflations, budget padding and will gladly lay down his life to see that Nigeria is steered towards a new trajectory of hope. As young people, we must continue to demand and fight for a better Nigeria for us all. We have been largely shortchanged in the project called Nigeria and today, we say "NO MORE"
Nigeria will be great in my lifetime.
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..
Cowards only speak when it is convenient!
All of a sudden the injustice against Senator Natasha Akpoti-Uduaghan by the Nigerian Senate is being spoken by Senators who were too cowardly to say anything when the injustice was going on!
What an utter shame!!!!
Rufai Oseni: On security, our children and teachers are still in captivity, and a retired Major General recently di£d while being held hostage. What would you do if you were President?
Mr. Peter Obi: If I am President today, it is either the terrørists are in charge of the country or I am in charge—one person must be in charge or we declare w@r on insecurity.
Go and ask about my record when I was Governor. I confrønted insecurity head-on. Even notørious kidnappers like Evans and many others could not operate in Anambra and were forced to flee. If I am outside the country and there is a crisis at home, I will return immediately. I am ready to d!e for Nigeria. I lived abroad for years, yet I never considered obtaining a foreign passport. I have only one passport—the Nigerian passport.
Please don’t scroll past this without reposting!💔
Miss Ozioma is missing, not been heard from or seen and we’re desperately trying to find her. A repost from you could reach the one person who knows something. 🙏🏾
“Any society you see people in government doing better than entrepreneurs, then it is a failed country. That’s why our country is not working.”
~HE Peter Obi
Sustainable Success Is Built on Competence, Integrity, Discipline and hardworking.
On Saturday, I had the privilege of interacting with young entrepreneurs, professionals, business leaders, and members of the emerging generation at the This Generation Conference hosted by Summit Bible Church in Abuja.
Our discussion focused on what it takes to thrive in the marketplace despite prevailing economic challenges. I shared insights from my years in business and public service, emphasizing that sustainable success is built on integrity, competence, discipline, and a commitment to creating value for society.
I reminded participants that no nation develops by consumption alone. Nations progress when their citizens are productive, innovative, and committed to excellence. Our young people must resist the temptation of shortcuts and instead embrace education, skills acquisition, entrepreneurship, and ethical leadership.
The future of Nigeria depends largely on the quality of leadership and enterprise this generation is willing to build. We must move from a culture of sharing poverty to one of creating prosperity through production, innovation, and responsible governance.
I left encouraged by the energy, intelligence, and determination of the young people I met. Their questions, ideas, and aspirations reaffirmed my belief that Nigeria’s greatest resource remains her people.
Together, through hard work, integrity, and purposeful leadership, we can build the New Nigeria that is POssible. -PO
Coping with the systematic collapse of our institutions.
When the controversy surrounding the removal of former Chief Justice of Nigeria, Walter Onnoghen, unfolded, I expressed a concern to a friend: that the greatest damage might not be immediate, but the message it sends about the sanctity and independence of our institutions to the world.
Strong economies are built on trust. Investors can manage security risks, policy risks, and even market risks. What they fear most is uncertainty in the rule of law and a judiciary that is perceived to be vulnerable to political pressure.
Today, many Nigerians have lost confidence in systems that should protect them. Businesses increasingly request that their contracts be governed by foreign jurisdictions because they have greater confidence in those institutions than in our own. That should concern every patriot.
We must never sacrifice our sacred institutions on the altar of politics. Nations rise when institutions are stronger than individuals. "The federal High Court Judgement ordering the de-registration of the ADC and other political parties is just one of those activities that further reduces the common man's trust in our legal systems" it should be reversed.
I pledge that we will restore the dignity, independence, and integrity of the Judiciary. The common man must have a voice. The business community must be protected from legal uncertainty and intimidation. Justice must be impartial, accessible, and respected by all.
To our judges, legal luminaries, senior advocates, and lawyers: this is your moment. Rise, defend the rule of law, take back your country!
A New Nigeria is POssible. -PO
As gov, Oshiomhole once told a woman who knelt down before him making entreaties to
"Go and die!"
(after his thugs seized her petty goods by the roadside).
PO can never say such to the people he serves.
A Peter Obi is infinitely better than anything an Oshiomhole can ever be
Omo! Do you people know how insane it is for terrorists to kidnap a retired general, kill him and then return his body in a handover ceremony where they took pictures knowing they'd leave unchallenged?
Do you people know what kind of trouble we are in?
There are no bandits in Nigeria.
The belittling of the murder and atrocities these people commit by calling them bandits, is a media propaganda by their sponsors in government to diminish the level of horror of what these criminals do to innocent Nigerians.
People who massacre citizens, kidnap schoolchildren, attack military formations, burn communities, and hold entire regions hostage are not bandits.
These are terrorists
The media must stop sanitising their crimes with softer language. Calling terrorists “bandits” trivializes murder, kidnapping, rape, arson, and the destruction of lives.
Call them what they are
They are terrorists.
Anything less is a disservice to their victims and a crime to the pain they inflict on every Nigerian.
American: So there are terrorists causing problems in your country, right?
Nigerian: Yes.
American: That's terrible. Is the government at least doing something about it?
Nigerian: Well, our president addressed the issue.
American: Oh. What did he say?
Nigerian: He spoke about the law of lawf in the holy book
American: ...The law of love?
Nigerian: I guess
American: Okay. Did you send the military after them?
Nigerian: Hmm... at times.
American: What do you mean "at times"?
Nigerian: Sometimes we've heard the military went after them. In some cases, the terrorists ended up killing military personnel.
American: Wait. They killed your soldiers?
Nigerian: Yes.
American: Okay, so then your government retaliated and finished them off, right?
Nigerian: Mm... nah.
American: What do you mean "nah"?
Nigerian: Well, our president also gave an example from the Bible about the prodigal son on how we should accept them with love.
American: Hold on. The prodigal son?
Nigerian: Yes.
American: I'm confused. So you're telling me terrorists killed military personnel, and the response was a Bible lesson?
Nigerian: Something like that.
American: So you guys aren't doing anything?
Nigerian: No, no. We're doing something.
American: Okay. What are you doing?
Nigerian: We're rehabilitating the ones we catch.
American: You're... rehabilitating them?
Nigerian: Yes.
American: Not prosecuting them?
Nigerian: Not according to our president, no.
American: WTF WTF WTF
Nigerian: I never even tell you anything, you don dey cry
Terrorists took lives of Nigerians.
Wiped a whole family
Made people orphans
Made people fatherless
Made people motherless
Made people childless
Then you rehabilitate & gift them houses, cars on salaries?
What happened to the lives they look.
Who will replace them.