From Ifeoma Ejiofor
The Justice, Development and Peace Caritas (JDPC) of Nnewi Catholic Diocese on Wednesday played host to a colloquium of faith and religious leaders in Anambra State.
The colloquium of religious and faith leaders was convoked on the 2024 African Inclusive Economic Recovery Campaign (AIERC)
In his welcome address, the Director of JDPC Nnewi Diocese, Rev. Fr. Benedict Chima Okolo on behalf of Most Rev. Jonas Benson Okoye, the Bishop of the Diocese revealed that JDPC was created as a pontifical Commission on January 6th, 1967.
Rev Fr Okoli particularly welcomed the representatives of Catholic Caritas Foundations of Nigeria (CCFN) who are representing Caritas Africa, sponsors of colloquium.
He noted that guests were drawn from Christian and Muslim faith – denominations as Bishops, Imams, Priests, Pastors, Evangelists, other senior clerics and Leaders of Christian and Muslim Associations in Anambra State were in attendance.
“The Caritas Afrika would like us to significantly participate in 2024 African Inclusive Economic Recovery Campaign (AIERC).
“Themed before us as “Nigeria’s Public Debt Management (PDM): The Imperative of Responsible Borrowing and Lending and Equity in the Distribution of Special Drawing Rights (SDR),” he said.
In a paper he presented at the occasion, titled, “Nigeria’s Public Debt Management (PDM) and Equity In The Utilization Of Special Drawing Rights (SDR): The role of faith based actors, Rev Fr Raphael O. Ezeogu, Chancellor, Catholic Diocese of Nnewi pointed out that If the circle of poverty is to be broken, good leaders must help the less privileged in times of need.
“Just like the complimentary principle of solidarity, which emphasises the inherently social nature of the human person and humanity’s common bond as creatures made in the image of God, is often invoked in discussions of global poverty, so also is subsidiarity.
“Nigeria’s public debt management is so uninspiring since the country’s debt stock is estimated as over #121 trillion (about 91 billion US dollars), and Nigeria spends a significant portion of its revenue on debt servicing.
“Naturally, such would limit any country’s ability to fund other critical sectors like education, healthcare, and infrastructure. Nigeria’s so-called political and financial reforms, necessitating such unimaginable indebtedness, seem to have only a bleak future to show for it.
“It is because the burgeoning sums borrowed appear to be useful only in making the incumbent political class and their lackies comfortable. Sadly, they constitute a little percentage in comparison with the great majority of Nigerians abandoned in squalor and indebtedness.
“To make it bleaker, the Special Drawing Rights (SDRs) of the International Monetary Fund (IMF) based on US dollars, Chinese renminbi, Japanese yen, and British pound sterling, do not, up till now, directly factor equity and risk-sharing as policy elements.
“Consequences following on this include a mechanical and soulless system of resource flow which overlooks human dignity. It does not care whose horse is gored, otherwise, both borrower and lender should bother about responsible borrowing and effective monitoring of funds borrowed.
“What JDPC of the Catholic Diocese of Nnewi, under the aegis of Caritas Africa, facilitated by Catholic Caritas Foundation of Nigeria (CCFN), is doing today, together with religious and faith leaders in Anambra State on the 2024 African Inclusive Economic Recovery Campaign (AIERC).
“It is also to promote social justice and human rights, to support sustainable development and poverty reduction; advocate for good governance and accountability; building peace and resolving conflicts; empowering marginalised communities……” Rev Fr Ezeogu stressed.