…say indigenous Nigerians won’t repay debts
Notable statesmen and leaders of thought have warned the international community against giving loans to Nigeria which they described as “a country with questionable sovereignty.”
Southern and Middle Belt leaders under the aegis of Nigerian Indigenous Nationalities Alliance for Self-determination, on Sunday, warned global financial institutions to stop giving loans to Nigeria.
These notable statesmen and leaders of thought stated that this had become imperative because Nigeria was now “a country with questionable sovereignty.”
Their group, NINAS, which is a multi-ethnic alliance, said the country is a “disputed project,” warning that indigenous Nigerians cannot continue to repay such loans.
Nigerian economy has been groaning under the weight of increasing public debt stock, which stood at N32.92 trillion as of the end of 2020, much of which was incurred by the administration of President Muhammadu Buhari
The NINAS members, numbering 129, were signatories to the Constitutional Force Majure declared on December 16, 2020, on the 1999 Constitution of Nigeria.
They include former military Vice-President of Nigeria, Commodore Ebitu Ukiwe (rtd); former governor of Plateau State, Jonah Jang; renowned Historian and Second Republic member of the Senate, Prof Banji Akintoye; former president-general of Ohaneze Ndigbo, Chief Nnia Nwodo, and Prof. Yusuf Turaki.
The NINAS members, in a four-paragraph statement, therefore, warned the World Bank, International Monetary Fund, United Nations, African Union, European Union, United States, French, Chinese and British governments that borrowing a “disputed project” loan can only be considered an act of negligence.
Chairman of the NINAS Steering Committee, Otunba Folashade Olukoya, on behalf of the NINAS Secretariat, made the group’s statement available to newsmen on Sunday.
The statement read, “News reaching the Nigerian Indigenous Nationalities Alliance for Self-Determination (NINAS) says that the Nigerian government has taken on further loans.
“Again, we remind the International Community that Nigeria is now a disputed project. This was articulated in our Press Conference of 16 December 2020, when we declared a Constitutional Force Majeure.
“Subsequent activities as articulated at Press Conferences of 17 March 2021, and 17 April 2021 emphasise that Nigeria remains a disputed project. Knowing this and lending to a disputed project can only be considered negligence.
“For the avoidance of doubt, the Indigenous Nations will not, and cannot be expected to repay such loans or allow their assets to be used as collateral to offset the loans.”