3 weeks ago
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By Rotimi Ojomoyela
Ado-Ekiti – Legal luminary and laminitis of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola, has expressed heavy interest implicit Nigeria’s increasing indebtedness burden, informing that the country’s economical estimation is deteriorating and discouraging overseas investment.
Babalola made the remarks implicit the play successful Ado-Ekiti during the 2025 International Leadership Conference connected Leadership, Governance, Sustainable Change, and Wealth Creation (2.0), jointly hosted by ABUAD, Nigeria Trinity Western University (TWU), Vancouver, Canada, and the African Centre for Leadership, Strategy, and Development (CentreLSD).
Speaking astatine the league themed “Shaping Transformational Leaders for a Changing World: Tackling Insecurity, Governance and Development”, the elder statesman described the taxable arsenic “most due astatine this clip of our development,” noting that Nigeria’s fiscal concern has go alarming.\
Babalola lamented that the country’s worsening indebtedness illustration is undermining capitalist confidence, adding that the section fiscal assemblage is besides feeling the strain. He cited complaints from banks that the Central Bank of Nigeria (CBN) has been incapable to honour authorities promissory notes.
He, therefore, called for urgent reforms and liable fiscal absorption to reconstruct economical stability, capitalist confidence, and sustainable improvement successful Nigeria.
“The taxable of this league is astir due astatine this clip of our development,” Babalola said. “Records amusement that Nigeria is present a large debtor country, with full nationalist indebtedness astatine N152.4 trillion, oregon $99.7 billion. Consequently, astir overseas companies are reluctant to put successful this debtor nation. As I talk to you now, I cognize that our banks are complaining that the Central Bank is not honouring promissory notes issued by government, owed to the Federal Government’s inability to wage due to the fact that of its mounting debt.”
He besides highlighted the law mandate of government, noting, “The main relation of a authorities is contained successful Section 14 of the Constitution. It states that the Federal Republic of Nigeria shall beryllium a State based connected the principles of ideology and societal justice. Sovereignty belongs to the radical of Nigeria, from whom authorities derives each powers and authority. The information and payment of the radical shall beryllium the superior intent of government, and the information of the radical successful governance shall beryllium ensured.”
In a lecture titled: “Transformational Leadership successful an Insecure and Disruptive Era: Building Ethical, Resilient and Impactful Leaders for Africa”, Otive Igbuzor, founding Executive Director of CentreLSD, identified transformational enactment arsenic a captious instrumentality to combat atrocious governance, corruption, unemployment, sex inequality, and biology degradation successful Nigeria and Africa astatine large.
Igbuzor noted that Nigeria and the continent request a caller procreation of leaders susceptible of challenging accepted approaches and promoting innovation. He explained that transformational enactment volition alteration governments to reward merit, integrity, and innovation, alternatively than mediocrity and patronage.
He further stressed that Nigeria indispensable clasp the principles of ethical leadership, innovative education, organization integrity, inclusive governance, and continental collaboration. Igbuzor urged the national authorities to institutionalise enactment grooming crossed schools and universities, ensuring that enactment enactment becomes arsenic indispensable arsenic literacy.
In her address, the Vice-Chancellor of ABUAD, Professor Smaranda Olarinde, described the league arsenic timely, emphasising the captious value of international, regional, and public-private partnerships successful addressing challenges specified arsenic insecurity, hunger, poverty, infrastructural decay, and economical uncertainties.
The station Nigeria’s rising indebtedness illustration scaring distant overseas investors — ...
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