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
“In 2020, Ebonyi State Was Ranked The 4th Poorest State In Nigeria. It Didn’t End There Ebonyi Was Also Reported As The Poorest State In The South-East. Yet, The State Budgeted ₦16 Billion For An Abuja Liaison Office. Meanwhile, There Are Schools Where Students Do Not Have Seats And Classrooms Without Roofs. With Little Or No Visible Infrastructure In Some Communities, You Will Understand Why I Call Them Ambassadors Of Poverty After Watching This Video.”
Black South Africans are suffering from what is called the Stockholm syndrome.
They love their tormentors who are white, that’s why it is not even xenophobia it is afrophobia.
It is Africans that they do not want.
~ prof Lumumba ~
NDI ENUGU THANK YOU 🙏🏽
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One Clear Mission:
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2027 = Tinubu MUST GO❗️
Insecurity: Nigeria Cannot Continue Like This
I received with deep shock and sadness the tragic death of retired Major General Rabe Abubakar, who reportedly died while in the custody of kidnappers. Earlier, before this heartbreaking news, I also received disturbing reports of renewed bandit attacks in Sokoto and Kwara States.
The armed bandits reportedly blocked a market route in Sokoto and abducted traders, while terrorists invaded communities in Kwara State, kidnapping scores of citizens and killing innocent people, are heartbreaking and alarming. These incidents are not isolated tragedies; they are clear manifestations of the deepening security crisis confronting our nation.
But particularly painful is the reported death of Major General Rabe Abubakar, a distinguished military officer who dedicated a significant part of his life to defending Nigeria and protecting its citizens. It is tragic that a man who served his fatherland with honour, rose through the ranks of the Nigerian Armed Forces, and retired after years of meritorious service, would meet such a heartbreaking end at the hands of criminal elements. His death is a national tragedy and a sobering indictment of the insecurity that has engulfed our country.
When traders can no longer travel safely to markets, farmers cannot access their farms, communities live under constant fear, and even retired senior military officers are not spared from the menace of kidnapping and violent crime, it becomes evident that our nation is facing a grave security emergency.
Security remains the foremost responsibility of any government. Every life lost, every citizen abducted, and every community displaced represent a painful failure of our collective duty to protect the Nigerian people. The recurring attacks in Sokoto, Kwara, and many other parts of the country demonstrate that insecurity is not only persisting but spreading in both scope and intensity.
I once again urge the Federal Government and our security agencies to move beyond rhetoric and adopt a more proactive, intelligence-driven, technology-based, and coordinated approach to tackling insecurity. We must strengthen our security architecture, improve intelligence gathering, secure our borders, equip and motivate our security personnel, and ensure that those responsible for these heinous crimes are apprehended and brought to justice.
A nation where citizens live in fear cannot prosper. A nation where economic activities are disrupted daily by criminal elements cannot attract investment, create jobs, or guarantee a better future for its people. We must urgently reclaim every part of our country from terrorists, bandits, kidnappers, and all criminal gangs threatening our collective existence.
My heartfelt condolences go to the family of Major General Rabe Abubakar, his former colleagues in the Armed Forces, and all Nigerians who have lost loved ones to insecurity. I also sympathise with the families of those killed, those abducted, and the affected communities in Sokoto, Kwara, and across the nation.
The recurring tragedies and embarrassing security failures we continue to witness make the quest for a New Nigeria not only necessary but inevitable. We must build a nation where every citizen can live, work, travel, and pursue legitimate economic activities without fear.
A New Nigeria is POssible. -PO
“Goodluck Jonathan You’re a B@d And Ev!l Person. You’re a We@k Man Because It Was During Your Administration That Tinubu And APC Ganged Up To Remove You From Office. Now, Instead Of You To Also Join Force With Peter Obi To Remove Tinubu From Office Just Like He Did With You, You Decided To Pour Spit In The Face Of Nigerians By Aligning With Tinubu To Contest Under PDP. Nigerians, Anywhere You See PDP On Election Day, It’s The Same As APC.” ~ Man Reacts