ActionAid Nigeria, market women, university students and other civil society groups on Thursday protested at the gate of the Federal Ministry of Finance over Nigeria’s rising debt stock and the Federal Government’s continued borrowing.
The protesters expressed anger over what they described as the growing burden of debt on Nigerians, calling on the government to reconsider further borrowing and explore alternative measures to address the country’s economic challenges.
They also urged the World Bank and the International Monetary Fund (IMF) to stop extending additional loans to Nigeria, saying continued borrowing was placing an unacceptable burden on citizens.
The protesters, who gathered at the ministry’s premises, called on the international financial institutions to “let Nigeria breathe,” as they raised concerns about the country’s increasing debt accumulation and its implications for ordinary Nigerians and the economy.
The demonstration was organized by the groups as part of growing civil society concerns over Nigeria’s debt profile and the Federal Government’s borrowing policies.
According to the protesters, the continued accumulation of debt could further worsen the economic pressures already facing Nigerians, particularly as citizens struggle with rising costs and other financial difficulties.
They therefore demanded that the government look beyond borrowing as a means of financing its activities and priorities policies capable of reducing the economic pressure on citizens.
The groups also called for greater attention to measures that would strengthen the economy and reduce the country’s dependence on loans from international financial institutions.
The protesters maintained that Nigerians should not continue to bear the consequences of what they considered excessive borrowing, urging the government to adopt more sustainable alternatives.
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The demonstration highlights increasing concerns among civil society groups over the direction of Nigeria’s debt management and the impact of government borrowing on citizens.
The protesters insisted that the government must reconsider its approach to borrowing and take steps to protect Nigerians from further economic hardship.
