By Ahmed Ghani Hassan
Nigeria a country which has been blessed with so many natural and human resources, but menace of corruption becomes a serious cancer disease to it’s development for decades, because lack of integrity, dedication and patriotism by majority of the country’s leaders who are always strive on how to siphon the public funds, instead of foresight on Development .their strategy is how to clinch the tickets and won the election, because they are thirsty of power and they always prepare a blue print on how to accumulate the public funds, mismanagement of public property and to retain the power within their corridors of power.
Despites the country’s abundant resources we are still underdeveloped and rated as third word country, Because Nigeria achieved little compare to other countries who were competitors before in terms of economic growth and development.
Amid, soaring inflation and high level of unemployment, Nigerian debt profile hits to N138 trillion. Before the inception of the President Tunibu’s administration Nigerian debt was N87.3 trillion but now the debt is over N138 trillion, which indicates that President Tinibu borrowed N50 trillion in just 19 months without improving the life of Nigerians, amid huge Borrowing, Nigerians are complaining of hunger, destitution, and lack of job opportunities, our industries are collapsed and even the National grid collapsed for several times within last month which is the instrument of Economic Development. Even though the debt service in 2024 exceeds both recurrent and the capital expenditure, the loans is huge and achieved little.
It’s ridicule for a Nigeria which projected of debt service in 2025 will cost about N15.38 trillion and also in 2026 will be servicing N15.55.
Despite removal of oil Subsidy, floating the Naira against Dollar and huge Borrowing without significant achievements in infrastructural Development, collapsing of power, low level of manufacturing, failed achievement In food security, and not investing huge in rails, but they are always yearning hilarious that they are giving palliative, Student loans bla..blaa blaa what a great shame.
Nigerians are curious and asking whom to be blame over the huge debt? I think the answer is simple because there is checks and balance in Presidential System of Governments, All the borrowing is subjected to approval of the legislative arms. Therefore the reality is that Many of the legislatures invest huge amount of money in order to win their election that’s why they are desperate in accumulating money without putting the interest of the country and many of them are not qualified to check mate the essence of the executive and unknowingly approved whatever comes from the executive in order to protect their personal gains.Therefore according to my perception the best assembly is the 8th assembly under the leadership of Saraki and Yakubu Dogara who rejected several loans send to them by the previous administration.
What is the alternative for the country in order to have good Governance?
The alternative is that we should wake up from a deep sleep and educated the people on how to achieve the genuine Development, there is a need to form a forum from the grassroots which would involve pioneers of Development as we did in Bauchi State under our great association the native of Bauchi State Multipurpose association for development. We selected the patrons who were pioneers of Development of the State, they are elderly men of honour who contributed immensely towards the Development of the State. they are gentle men with utmost respect and also have the stature in the society, indeed we selected them regardless of party affiliation and putting the interest of the State to supercede personal interest. And In sha Allah very soon we will Call for a patrons Inaugural meetings in Bauchi to achieve many Development in our Great state after seeking a blessing from the Governor.
Ahmed Ghani Hassan
28/11/2024
ahmedghanihassan@gmail.com
