Osita Okechukwu, one of the founding members of the ruling All Progressives Congress, APC, has written an impassioned appeal to President Bola Tinubu, asking him to set Nigerians free from the stranglehold of crippling debts. Osita lamented that Nigeria’s debt had risen astronomically to N121.67 trillion or $91.46 billion, warning that without urgent fiscal restructuring, the much-vaunted Renewed Hope Agenda of the Tinubu administration may amount to mere wishful thinking.
“It’s alarming that our debt servicing cost of N15.8 trillion surpasses the combined budgets for defense, infrastructure, education, and health,” Okechukwu said, describing the situation as a catastrophic drain on resources meant for development. He called for a high-powered panel to probe questionable loans, recover stolen funds, and pursue debt cancellation, likening it to the Paris Club debt relief Nigeria achieved under President Obasanjo in 2005.
Blasting corruption and reckless borrowing, Okechukwu urged Tinubu to reject excessive taxes and instead restrict borrowing to critical infrastructure projects. “The only way forward is bold, painful decisions, not to burden Nigerians further, but to liberate them from this debt trap,” he declared, warning that the country’s democracy and future hang in the balance.
