@Ochizzy
103.9K posts

@Ochizzy
@Ochizzy_
AGATU (Idoma) by tribe from Nasarawa state, The middle belt Nigeria


What's something that's become too normalized?

APC want to distract you all from this revelation. APC must go




Accountable Borrowing: The South Africa Example. I have consistently maintained that borrowing, in itself, is not a bad thing. Every nation borrows. The critical issue is not the act of borrowing, but what the borrowed funds are used for and whether citizens can clearly see and measure the impact of such borrowing in their daily lives. There is a lot to learn in the open and transparent manner in which South Africa handled its recently secured a $1 billion loan from the New Development Bank, with a clearly defined purpose. Publicly announcing the targeted purpose of the loan for all to know and monitor, upgrading water supply systems, modernising sanitation infrastructure, improving electricity distribution, and strengthening waste management services across eight major metropolitan cities, including Johannesburg, Cape Town, and Durban. This is indeed what accountable borrowing should look like; the purpose is clear, the projects are identifiable, and the expected benefits to citizens are measurable. Such investments directly improve living conditions, enhance productivity, and stimulate economic growth. In Nigeria, however, the opposite is the case: public debt has risen dramatically under the current administration, and its deployment is shrouded in secrecy from the people who will indeed pay back the loan. Today, our total public debt has increased from about ₦87 trillion in 2023 to nearly ₦200 trillion. Yet, despite this unprecedented accumulation of debt, Nigerians are often left without a clear and detailed account of how these borrowings are being deployed to improve critical sectors such as education, healthcare, power, security, and infrastructure. Borrowing must never become an end in itself. Every loan obtained in the name of the Nigerian people must be tied to specific, productive investments capable of generating economic value, creating jobs, reducing poverty, and improving the welfare of citizens. Good governance demands transparency and accountability. The government must be able to clearly explain what was borrowed, where it was invested, and what measurable outcomes have been achieved. The ordinary Nigerian should be able to see and feel the benefits of every debt incurred on their behalf. At a time when millions of Nigerians are struggling with rising costs of living, unemployment, insecurity, and declining purchasing power, fiscal discipline and prudent management of public resources are no longer optional; they are imperative. Every borrowing decision should answer one simple question: How does this improve the life of the ordinary Nigerian? If that question cannot be convincingly answered, then we risk merely transferring today's burdens to future generations. A New Nigeria is POssible. - PO BRICS bank approves $1 billion lifeline for South Africa’s struggling cities | Business Insider Africa share.google/9EBaaAdSS5EDAq…



That’s a lie. The 25bn bank recapitalization was initiated on July 6, 2004 and concluded on December 31, 2005. Obi left Fidelity Bank in 2002, after being the chairman since 1994. During his reign, GTBank, in 1996, got listed on the NSE while Fidelity hadn’t even found it’s footing. Fidelity struggled and remained a merchant bank all through. During Obi’s reign as chairman, Fidelity struggled operationally, had very few customers and couldn’t make profits. He was asked to resign in 2002. So please let’s stop telling lies, Obi had NOTHING to do with Fidelity Bank’s recapitalization.















