CSOs Protest Rising Debt, Demand End to Excessive Borrowing
Civil Society Organisations (CSOs), youths, students, and market women yesterday protested at the Federal Ministry of Finance in Abuja, demanding an end to excessive borrowing by the Nigerian government.
The protesters, under the aegis of Climate Action, argued that the increasing public debt was crowding out funding for essential public services and undermining efforts to tackle issues like climate change, poverty, and unemployment.
Speaking on behalf of the protesters, Mr. Newton Otsemaye, a Social Mobilisation Specialist with ActionAid Nigeria, said the Ministry of Finance was an appropriate location for the demonstration due to its role in managing the country's finances and public debt.
Otsemaye expressed concern over the nation's debt-to-revenue ratio, warning that ongoing increases could worsen poverty, unemployment, and loss of livelihoods.
The protest brought together diverse groups, including women's groups, activists, students, and market women. According to Mr. Otsemaye, their demands are focused on reducing the reliance on loans from the World Bank and the International Monetary Fund, IMF.
The protesters believe that development should be people-centric and not profit-driven.
</body> </html><small>Source: Vanguard News — read the original story there.</small>
