Nigeria’s Mounting Debt: A Public Analyst Sounds The Alarm

LAGOS, NIGERIA –  A scathing critique of President Bola Ahmed Tinubu’s administration and public analyst Vitalismary Unachukwu, has accused the president of mortgaging Nigeria’s future through massive borrowing and alleged electoral malfeasance.

Unachukwu’s statement, released today, paints a grim picture of the nation’s economic and political landscape.

Unachukwu alleged that Tinubu’s 2023 presidential victory was achieved through illicit means, involving the bribery of electoral officials, security agencies, and the judiciary.
He claimed that this “stolen mandate” has been used to justify an unsustainable level of borrowing, facilitated by a complicit National Assembly.

Trillions of Naira in loans, he argued, have been secured without any demonstrable benefit to the Nigerian people, instead enriching a select few and leaving future generations to shoulder the burden of repayment.

The analyst directly criticised the National Assembly for its role in approving these loans, labelling its members as “zombies” blindly following Tinubu’s directives.

He highlighted the irresponsible nature of acquiring loans with exorbitant interest rates, especially considering the lack of transparency and accountability surrounding their use.

Unachukwu warned of the dire consequences of this reckless borrowing, potentially leading to the nation’s financial ruin and the exploitation of its oil resources.

Unachukwu cited former President Olusegun Obasanjo’s recent comments at the Chinua Achebe Leadership Forum, where he criticised the destruction of Nigerian democracy under the Buhari and Tinubu administrations.

He noted Tinubu’s subsequent rebuttal of Obasanjo as “a hypocrite,” and calls on Nigerians to reflect on the gravity of the situation.

The analyst pointed to reports from international financial institutions like the IMF and World Bank, which allegedly indicate the failure of Tinubu’s economic policies.
He questioned Tinubu’s accomplishments since assuming office, highlighting a pattern of prioritising appointments for his kinsmen over addressing the pressing needs of the Nigerian populace.

Unachukwu concluded with a passionate appeal to Nigerians to demand accountability from Tinubu and the National Assembly, urging immediate action to curb the excessive borrowing and prevent the complete economic collapse of the nation.

He emphasised the urgency of the situation, stating that silence will leave future generations to bear the consequences of the current administration’s actions.

He called for justice, regardless of the cost, to prevent Nigeria’s descent into oblivion.