Forgive Debts Owed By Nigeria, Adeyemi Urges Foreign Countries
Senator Smart Adeyemi, representing Kogi West Senatorial District, has urged creditor nations to consider forgiving the debts owed by countries like Nigeria.
He emphasized that these nations have accumulated vast sums of money stolen from third world countries, which they have utilized to develop their own economies. Senator Adeyemi stressed that it is crucial to prevent the collapse of countries like Nigeria due to the burden of debt.
He proposed that Nigeria’s debt should be forgiven as a matter of necessity, especially in light of the global economic recession.
The senator expressed his belief that the incoming administration of President-elect Asiwaju Ahmed Bola Tinubu should take the lead in advocating for debt forgiveness.
He said: “I urge the creditor nations abroad to as a matter of necessity forgive the debts since most of the debts were stolen by leaders who later stashed the monies in their countries and with the global economic recession Nigeria cannot pay the debts any longer.”
Further speaking, Adeyemi opposed Nigeria taking more loans, just as he faulted the recent loan request of $800 million by President Muhammadu Buhari.
“There is nothing bad in saying, no to repayment of debts, with the economic recession we cannot pay, you know why we cannot pay, in the last 10 years, Europe should look at the capital flows from Africa to their nation.
“Let them probe all the monies that came from African nations. A good percentage of these monies were stolen money. So let them take their loans from the money that has been stashed in their nation.
“Don’t allow the poor to pay for the sin of the rich. For me, African nations should start to ask for debt forgiveness, we can’t pay, we don’t have the means to pay, they should write it off and with your support it will be possible.
“African nations must team up. Developing nations must team up to tell Asia, Europe and America that we can no longer pay any foreign debts.
“We would not allow our people to die, the populace should not die for loans that have been taken, that some are inexplicable.
“For me the $800 million they are asking for, personally I don’t think it is going to fly in the National Assembly as we are about to wind down, National Assembly will not support any new loan, I don’t think so. If it happens, I will not support it”, he said.