Uncontrolled borrowing making Nigerians poorer – CHRICED

The Centre for Human Rights and Civic Education (CHRICED) has said the endless and uncontrolled domestic and external borrowing by President Bola Ahmed Tinubu’s administration in making Nigerians poorer and increasing their sufferings, partly linked to the removal of fuel subsidy.

CHRICED executive director, Dr Ibrahim Zikirullahi, stated this on Thursday in Abuja at a media conference on the state of the nation, lamenting that most parents could no longer feed their children.

Zikirullahi, represented by CHRICED’s Head of Programmes, Mr Armsfree Ajanaku, said, “Contrary to what government officials would have us believe, the people of this country are reeling from the severe pains and anguish of the administration of Bola Ahmed Tinubu’s many harsh, unkind, and economically draining policies.

“So far, nothing has changed to ameliorate the utter disaster of the former President Muhammadu Buhari’s regime, of which Tinubu’s government is an extension. And it appears to us that the incumbent president and his team have been hell bent on using Nigerians as guinea pigs for experimentation in voodoo economics since taking office on May 29, 2023.”

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He condemned what he called the lavish and opulent consumption patterns that governments have continued to exhibit, while Nigerians groan in hardships.

He noted that both the executive and legislative arms of the government at the federal level continue to exhibit profligate tastes, even with unreasonable loans which do not reflect Nigeria’s current dire economic realities.

Zikirullahi said, “CHRICED joins other Nigerians in expressing outrage about the National Assembly’s infamous and insensitive decision to vote the sum of N68.52 billion for the purchase of Sports Utility Vehicles (SUV). Even more self-indicting is the excuse of bad roads, which the lawmakers have given as the reason they need such expensive vehicles.”