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
@fimiletoks It’s not your business how he will raise the money or how he will do it. What you don’t get to do is dictate for Peter Obi and give your stupid Tinubu a free pass. If PO says he can do it then give him the benefit of the doubt
They have said everything about that interview, but here are a few things they're not saying or trying to divert attention away from:
° Among those running for his position, he's the most qualified.
° One one can tie any corruption case to him. He has challenged anyone who has one to step forward and he'll stop contesting. This should be easy knowing how easy the ruling part wants him off the ballot.
° He will not live extravagantly or lavish our Commonwealth on yacht and private jets.
° Peter Obi will not promise you electricity and disconnect the villa from the national grid.
° It will either be water for all or champagne for all, you won't be asked to tighten your belt while his is losed.
° Public funds will be channeled towards public good.
° Our public healthcare system will be given maximum attention.
° Peter Obi is not a thief.
Peter Obi is who they don't ish their candidate is.
I like how you write.
You are clearly learned.
I went through your posts and all I see is either you pointing out the potential problem that Peter Obi has or the problem with Obidients.
You also make good commentary about how Arewa is a problem and how El Rufai and Atiku are bad for "your people," the middle belt.
Guess what I never actually saw, an explicit attack on this current administration.
You have told us what you think PO should have said, that's fine.
I just have two simple questions and I hope you will indulge me.
1. Bola said that if he doesn't fix power within 4 years and eliminate estimated billing we should not vote for him. What is your take on that?
2. Can you come out with your full chest and tell us who your candidate is?
You’re daft, dumb and stupid. Before Tinubu introduced the self sabotaging Student loan, were students not paying school fee?
Your master Tinubu increased school fees by 400% in his first year in office and introduced a student loan that would further increase people’s hardship and you call it a reform? You’re stupid and evil.
Creating the problem and pretending to solve it is high class evil dressed as a reform. But I don’t even blame Tinubu that much, you idiots supporting him are worse than the man himself
“Student loans isn’t a welfare reform..I’ll change It once I become the president”
You can’t have this man take away a reform that has helped over 1.5m students and as a youth you’re campaigning for same person..
This man is an embarrassment and a failure! A dullard who has zero solutions to Nigerian problems.
What did Tinubu tell you before you voted for him, did he tell you HOW?
Toyin that he told How, we have been asking her to tell us since 2023.
She blocked the whole Twitter.
You are just a stupid idiot, no one cares about you. Go and ask Tinubu HOW?
Ashiere.
Eric here again with every bit of our silent thoughts.
The month of June is for Men’s mental health, and we are saying thank you to all the men out there making sacrifices to attain fulfillment for their families.
You guys will just come online and try to dribble people with pitiful opinions.
We don’t have money but there’s 20 billion naira for vp to renovate his residence. Theres 5 billion for yatch. There’s billions for Tinubu and his cronies to waste on useless travels that have no benefit for Nigeria.
Nigeria don’t have money but there’s money being made from subsidy removal. There’s even money from excess crude so what are you saying.
Just support tinubu with ur full chest but don’t you dare come online and play on our intelligence
Peter Obi has good intentions but no president in Nigeria today can Generate, transmit and distribute 10,000MW in 8 Years.
You know why?
1. We don't have the Money
2. We currently have legacy debt in the sector (this what caused the disruption about 2 months before Adelabu resigned)
3. We don't have the infrastructure
4 there's metering issues that seems to be unresolved
This is not to excuse any administration, I'm just pointing out the facts.
If you think anyone can achieve it please you can educate me.
My dear supporters,
REMEMBER, WE HAVE MOVED ON AND FOCUSED ON THE BIGGER PICTURE!!!!
Any conversation that is not about the 2027 presidential election and how to get Peter Obi @PeterObi elected and sworn into office , please ignore!!!!!
After the 2027 General Elections we will have the luxury to respond if it is worth our time.
For now we will continue with our tunnel vision on the presidential election!!!!!
We are not fighting against tinubu and the APC alone. You see these “private businessmen” they would rather d!e, than see a Peter Obi Presidency come to life. Because we all know a questionable element like Gilbert Chagoury and Abacha bagman will have to run away from Nigeria under a Peter Obi Presidency.
Young Nigerians, know what you are up against!!
So Kenneth Okonkwo still didn’t provide any evidence as to how Peter Obi scammed aspirants but he’s still genuflecting and accusing the same Obunike who have denied him 3 times that he told him?
Guys don’t bother to read. This idiot @realkenokonkwo was Deviating and trying to gaslight. He’s in for a very long ride.
Returning from Katsina tonight, I was overwhelmed by the joyful and energetic reception from the good people of Bichi, Kano State.
Thank you for the tremendous love. - RMK
What’s wrong with Godswill Obot Akpabio? Why is he always in the news for the wrong reasons? Will Nigerians ever catch a break?
Any move to impeach Godswill Akpabio, I will support it. Obot is badly behaved. The Senate wants to strip the states of their Constitutional powers to generate their own electricity.
Akpabio wants to take electricity back to federal control. Under the tight grip of NERC.
With such a terrible legislation, the Senate President wants to send Nigeria into permanent darkness. He’ll send you back to the Stone Age.
Ain’t you tired of “Up NEPA?” Lend your voice to this. Akpabio must be called to order! 😞