Tag: Nigeria’s Debt Crisis

At The Maroonsquare Discourse on National Development held on the 28th and 29th of March, 2019 held at the Science Auditorium, Federal College of Education (Tech), Akoka, Yaba, Lagos sponsored by the Rosa Luxemburg Foundation. Onyeisi Chiemeke discusses the Fiscal Responsibility Act and the issue of Nigeria's rising debt profile. Below is an excerpt of the paper delivered. It is a fundamental fact of the history of modern economies that certain stimuli are requisite to incentivize any economy. In this regard, every fiscal system requires such stimuli as subsidies or loans to walk on the path of growth. Good examples of such stimuli are subsidies and loans. While subsidies may not be as patent in form as loans, because of its nature of being a government intervention scheme that doe...

At The Maroonsquare Discourse on National Development held on the 28th and 29th of March, 2019 held at the Science Auditorium, Federal College of Education (Tech), Akoka, Yaba, Lagos sponsored by the Rosa Luxemburg Foundation. Prof. Odion-Akhaine discusses the issue of Nigeria's rising debt profile. Below is an excerpt of the paper delivered. How about the future? We must learn from the past. We must all show collective responsibility to prevent a return to the past. We must all commit ourselves to protecting, rather than squandering the future of our children. We must all agree not to remove the solid blocks on which our nation stands by accumulating debts that we cannot repay. May God never let us go through this painful path again (Obasanjo, 2005).   &...