Victor EzejaHUMAN Rights Writers Association of Nigeria (HURIWA), has condemned the continuous borrowing of funds from multilateral institutions by the federal government which has led to rapid rise of the country’s external debt profile in recent time.
HURIWA stated that such activity is drawing the economy backward and warned that if the government does not reverse the trend, it would file a class suit to “compel” the administration to stop accumulating foreign debts for the citizens.
The civil rights group said it was seeking collaboration with cross section of Nigerians to jointly initiate strategies to oblige the government to stop incurring foreign debts and mismanaging it.
The group said, “ we are working to set up a national register of Nigerians who will sign a global protest letters to be dispatched to the World Bank, the International Monetary Fund, the Paris and London clubs of creditors and China to present a common front rejecting the liabilities that may accrue from the unbridled foreign indebtedness being accumulated since the year 2015 by the federal government of Nigeria.
“We will be writing officially to President Muhammadu Buhari to inform him that Millions of Nigerians aren’t happy that his government had dragged us back into the foreign debts trap and then we will demand an end to the habit of chasing after all kinds of loans.
“Thereafter if there’s no positive result, we will file class action suit to compel President Muhammadu Buhari to stop building up heavy debts for the future generations.”
The rights group called on the government to explore options for “building up the commonwealth of Nigeria and to appropriately deploy the revenues generated by different revenue generating agencies to run efficient, effective and result oriented Administration” instead of going for external loans.”
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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