The Leader of the INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has issued a warning to President Bola Tinubu’s administration over continued borrowing, cautioning that Nigeria risks worsening its economic situation if reliance on loans persists.
In a statement attributed to the cleric, Ayodele urged the federal government to reconsider its fiscal approach, stressing that excessive borrowing could place long-term strain on the country’s economy. He advised that alternative strategies should be prioritised to strengthen domestic revenue generation and reduce dependency on external and domestic debt.
Ayodele’s remarks come amid ongoing national discussions about Nigeria’s rising debt profile and the government’s efforts to finance budget deficits through borrowing. The federal government has maintained that borrowing remains a necessary tool for funding infrastructure, social programmes, and economic development projects.
Nigeria’s debt levels have been a subject of public debate in recent years, with successive administrations relying on both domestic and international loans to support fiscal operations. Economic managers have consistently argued that such borrowing is within sustainable limits and is required to bridge infrastructure gaps and stimulate growth.
The cleric warned that continued accumulation of debt without corresponding economic expansion could create long-term challenges for future generations. He urged the administration to focus on policies that would enhance productivity, improve revenue collection, and reduce waste in public expenditure.
Primate Ayodele has in the past issued similar warnings and political forecasts regarding governance and economic management in Nigeria, often calling on leaders to adopt cautious fiscal policies.
The federal government has not issued an official response to the latest comments. However, authorities have previously defended their borrowing strategy, stating that funds are channelled into critical sectors such as infrastructure, security, and energy.
Nigeria’s debt situation continues to attract attention from economists, civil society groups, and international financial institutions, with ongoing discussions about balancing development financing and debt sustainability.
📩 Stone Reporters News | 🌍 stonereportersnews.com
✉️ info@stonereportersnews.com | 📘 Facebook: Stone Reporters News | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments