From Ifeoma Ejiofor
Civil Rights Concern has raised alarm over rising debt and rising poverty in the country.
The alarm was raised during a stakeholders meeting which took place at King David Hotels, Awka on Thursday.
In his opening remarks, the Executive Director (ED) of Civil Rights Concern, Okey Onyeka noted that the N24.82tr was proposed for 2024 while the expected funds is N11.04tr.
“Poverty is risng as debit profile. We are concern that debt should lead to drop in poverty. So much debt every year. Brought people from the academic sector and business societies. Looked at debt and poverty index in the country and South East. It does appear that debt has not created values.
“Stakeholders in all sectors should be more organized so that government would know that they are serious. We have developed indicators to measure government performance . Want people’s participation in projects and programs of government,” he said.
Rising debt profile according to the stakeholders should reduce poverty level through creation of employment and empowerment.
“It’s unfortunate that the poverty level is rising as debt profile is rising, it shows unproductivity of the debts. Loans taken by the government at all levels should be spent on productive purposes that will reduce the poverty level.
“There is urgent need for civil societies to engage the system to make the political leaders spend the loan taken for productive purposes,” the stakeholders noted.
The meeting was a prelude to a campaign on productive and sustainable debt financing of public programs in Nigeria.
The stakeholders at the meeting also expressed worry that Anambra State with a population of over six million people has 44.2% underemployed persons and 16.5% unemployed persons.
The high rate of unemployment and underemployment was blamed on poor educational system that has refused to offer skills to graduates of different schools.
The collapsed of companies and industries that used to give quality employment was also blamed for the high rate of unemployment in Anambra State in particular and South East in general.