Nigeria now ‘lepers colony’ because of debt – Rufai Oseni tells Tinubu
Arise Television Anchor Criticizes Nigeria’s Rising Debt Levels
Rufai Oseni, anchor of Arise Television’s Morning Show, has expressed concern regarding the increasing debt levels under President Bola Tinubu’s administration. He warned that poor management of borrowed funds could exacerbate the country’s economic challenges.
Oseni’s remarks came in response to a recent statement by President Tinubu, who characterized debt as not being akin to “leprosy.” During a broadcast on Thursday, Oseni referred to Nigeria’s debt profile as burdensome, suggesting that without proper oversight, it could result in severe economic consequences.
He highlighted the significant cost of debt servicing, which is projected to range between ₦15 trillion and ₦16 trillion within a ₦60 trillion budget. Oseni argued that such financial obligations are straining the nation’s resources without yielding tangible benefits for the populace.
Additionally, Oseni criticized the political landscape, asserting that the government is suppressing opposition voices. He emphasized that a more equitable political environment would empower voters to make informed choices.
“This debt is a leprosy,” Oseni stated. “When you spend ₦15 trillion to ₦16 trillion in a budget of ₦60 trillion, the percentage on debt servicing becomes unsustainable.” He expressed skepticism about claims that infrastructure projects, such as road construction, equate to development and economic growth.
Oseni noted that despite additional borrowing—amounting to $516 million—many Nigerians continue to experience worsening living conditions. He questioned the transparency of recent infrastructure projects, highlighting concerns about the bidding process and the selection of contractors.
“The state’s federal medical centers and educational institutions reflect a worrying decline,” he said. “While student loans have been introduced, they still represent a burden for those who must repay them.”
Oseni reiterated that without responsible management, debt can lead to dire economic consequences, asserting that the current trajectory is detrimental to Nigeria’s future.
