A Bishop of Methodist Church Nigeria, Bishop Sunday Ndukwo Onuoha has raised the alarm that the future of Nigerians, including the unborn generation has been mortgaged.
The bleak future, according to the Bishop is as a result of Federal government and States’ wide exposure to foreign and domestic debts.
Onuoha who raised the alarm in Umuahia while speaking on his expectations from the new administration in the country, expressed his disappointment with the nation’s continued dependence on loans and foreign grants in running her economy.
He regretted that a good amount of borrowed funds were not channeled to the projects for which they were collected but ended up in private pockets. Bishop Onuoha who called for development of Nigeria’s natural resources, warned that the country’s continued dependence on oil-based economy was economic time bomb.
He therefore advised the new administrations in the Federal and those in the State to end the culture of waste if the country must enjoy a blissful socio-economic future.
“Who will pay all these debts? This generation has been mortgaged and the future of the children of the next generation has been enslaved.
” I find it unpleasant that the Federal and State governments insist on borrowing monies in trillions and billions, without minding the implications and where it leaves the country”, the Bishop wondered.
He made it clear that Nigeria’s economy cannot survive if it continued to dwell in a mono-economy system.
