Abuja, November 21, 2023 – African Network for Environment and Economic Justice (ANEEJ) don yan dem worri on Tuesday about how debt dey climb waka for Nigeria and some oda West African countries. Di organization talk say e dey vex dem well well as plenty of di money wey dey these countries hand dey go siddon dey pay debt.
Dem do di release of one important paper wey dem call “Debt Management, Restructuring, and Sustainability in ECOWAS” for Debt Management Office wey dey Abuja. Di Executive Director for ANEEJ, David Ugolor, talk im own mind during one two-day International Hybrid Conference on top Special Drawing Rights with di theme “Making Special Drawing Rights Work for the People.”
Di person wey represent Ugolor, Leo Atakpu, share one kain tori wey fit bring wahala from Debt Management Office. E talk say as of June 30, 2023, Nigeria public debt don reach N87,379,401.75 trillion. Same time, Ghana own debt don kolomental reach 569.3 billion cedis ($49.7 billion) by April end for 2023, as Bank of Ghana talk am.
Dem talk say e be like say COVID-19 wahala don spoil how how for Sierra Leone, as dem debt too dey risk level wey fit give dem wahala.
Ugolor yan say e dey pain dem for body as plenty of di money wey dem country dey make na e dem dey use sidon pay debt, e no dey well for social services, climate, and oda development waka.
Im talk say, “Di wahala for debt fit spoil how dem go fit achieve Sustainable Development Goals and Paris Climate Agreement for West Africa. E come be like wahala well well as Nigeria still be world capital for poverty according to World Poverty Clock report for 2023.”
Ugolor talk say, “E mean say debt go make plenty Nigerians and West Africans enter serious and multi-level poverty if government and international community no quickly do something.”
Apart from say make dem check how dem dey use Special Drawing Rights for Ghana and Nigeria, Ugolor talk say di conference go waka enter di debate on how dem go fit share Special Drawing Rights to countries wey need am well well, like Ghana and Nigeria, without adding more to the wahala wey debt dey bring.
Report wey di Nigerian Economic Summit Group and Open Society Initiative for West Africa write talk say ten oda countries dey inside di same debt wahala. Dem countries na Benin Republic, Burkina Faso, Cabo Verde, Gambia, Guinea Bissau, Liberia, Niger, Senegal, and Togo. Di report dey yan say everybody need to siddon waka look how dem go take settle dis wahala for West Africa.