Post by Ben Akintunde OGOH (@BabaBen)

NIGERIANS MUST REJECT THE $20+ BILLION DEBT TRAP AMIDST MERE DATA ECONOMIC GROWTH

Former President Olusegun Obasanjo’s Courage to speak truth to power last week must awaken a nation of silent Intellectuals now, as
Nigeria stands at a dangerous economic crossroad, courtesy of painful pro- choice rather than pro- life policies and reckkess borrowing!

Is it that all men of knowledge and good thinking in Nigeria are under a spell that they can't interrogate the policies of this government and bring out the facts about the economy?

Why can't they speak out against the seemingly immanent collapse of the economy?

The proposed $20+ billion foreign loan by President Boka Ahmed Tinubu administration demands rigorous public scrutiny, not political cheerleading at all

And Chief Obasanjo
deserves commendation for crying out, challenging a political establishment whose economic decisions must be subjected to uncompromising examination.

Nigeria cannot borrow its way into prosperity without lower energy cost, a credible strategy for productive investment, massive export and repayment.
With debt servicing consuming a substantial proportion of government revenue, ( IMF October 2026 ), additional foreign borrowing could deepen fiscal vulnerability, expose the country to exchange-rate risks and transfer today's policy failures to future generations.

Forget what government economists - like Prof Tope Fasua and Finance minister Taiwo Oyedele are saying about the economy improving steadily, about growth rate of the GDP and need for the country to borrow over 20 billion dollar.

The reality is that the growth is mere statisticall, with heavy manipulation of data to deceive the public, believing the people can't reason beyond the intelligence of earthworms.

With a receding GDP size now less than 200 billion dollar, with about 90 percent of government revenue spent on debt servicing alone with manufacturers groaning, no much progress is being made. Lies upon lies are told the people.

And it's a fact that, when a country's propensity and urge to grow in economic development, is obscured by multiple negative factors such as impunity and government's lack of fear and respect for the people, greed,hypocrisy,tribalism,lies,forgery of true and adequate reliable economic data aimed at deceitful ends,just to mention but very few, the nation is doomed to a systematic and structured strangulation by its governance body.
At this juncture, the industrial clan and the university community have urgent duty to perform. A focus on the moral aspect of the ruling class. institutions and the judiciary, must be taken into serious consideration and worthy of scrutiny.
Yes, as it appears now, Nigeria is a country that goes to the stream to fetch water with a basket, only to come back home empty handed.

Obasanjo’s intervention, therefore, underscores the importance of confronting uncomfortable truths, regardless of political affiliation. Former leaders should not remain silent when disaster is looming, when wrong national choices and decisions threaten economic stability.
Expectedly, Nigeria’s intellectual community must also rediscover its courage. Economists, university lecturers, manufacturers and professional bodies have a responsibility to interrogate government policies with evidence, independence and patriotism.
Silence in the face of potential economic disaster is not neutrality; it is an abdication of responsibility

BAT's government cannot continually accumulate debt, sell oil)gas resources in futures sale, tav people to the pants while neglecting production, accountability and things necessary to add values to ordinary people.

The ultimate remedy lies in robust vigilance on government and even democracy, by the intellectual class and middle class. This will engender some fear of the citizens and force moral renewal among political leaders, stronger institutions, an independent judiciary and credible economic data.

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