News
“Nigeria’s Rising Debt is a Threat to Future Generations” – Obasanjo Warns
Former President Olusegun Obasanjo has raised concerns over Nigeria’s escalating debt, warning that it poses a serious challenge for both current and future generations.
He shared his thoughts during a recent Zoom discussion titled Boiling Point Arena, where he reflected on the country’s economic path and leadership choices.
Nigeria’s debt has experienced a significant increase, climbing by a staggering N12.6 trillion within just three months.
As of the end of the second quarter of 2024, the nation’s total debt stood at N134.3 trillion (about $91.3 billion), marking a sharp 10.35% rise from the N121.7 trillion recorded at the close of the first quarter.
Obasanjo, who was instrumental in securing debt relief for Nigeria during his tenure from 1999 to 2007, expressed deep concern over the current state of affairs.
He noted that his administration’s efforts to clear the country’s debt burden have been undermined by the recent trend of heavy borrowing.
“Yes, I was able to secure debt forgiveness for the nation before I left office, but now we’re facing a debt problem that will affect not just this generation, but the next as well,” he stated.
It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.
The incident was reported to have occurred on June 8 at about 11 p.m.
Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.
The rising cases of insecurity in the country remain quite alarming.
The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.
It has been reported that some parents have started withdrawing their children from schools in Abuja.
It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.
While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.
It has been rumored that bandits have made their way to Lagos, and allegedly they were spotted in Ibeju-Lekki, where some residents became suspicious of them and reported the matter.
A clip of the group of men went viral online, and many people became concerned. Whether true or not, fear has been sparked among Lagosians as they worry that bandits may already be in the state. Even if the reports remain unconfirmed, many believe it is still a possibility worth paying attention to.
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