The Socio-Economic Rights and Accountability Project has urged President Muhammadu Buhari to immediately issue moratorium on borrowing by the federal government and the 36 states in order to address what it described as a systemic debt crisis, prevent retrogressive economic measures and the disproportionately negative impact of unsustainable debt on the poor Nigerians.
SERAP said long-term unsustainable debt could be a barrier to the government’s ability to mobilise resources for human rights, and may lead to taxes and user fees that impact negatively on vulnerable and marginalised Nigerians. “The federal government and many of the 36 states would seem to be in debt distress or at high risk of debt distress.”
SERAP should go and sit down, not every borrowing you should attack. Rather follow how the money borrowed is spent and reveals stealing of borrowed money or go to court. Borrowing to pay wages is what I against but for infrastructure, many countries does that.
SERAPNigeria should give Nigeria the money!
Thumbs up SERAPNigeria