2 weeks ago
10
By Rotimi Ojomoyela
Ado-Ekiti — Legal luminary and Founder 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 stated this 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, & African Centre for Leadership, Strategy and Development (CrntreLSD).
Speaking astatine a league themed: “Shaping Transformational Leaders for a Changing World: Tackling Insecurity, Governance and Development”, the elder statesman described the taxable of the lawsuit arsenic “most due astatine this clip of our development,” noting that the nation’s fiscal concern had go alarming.
The eminent lawyer lamented that the country’s worsening indebtedness illustration was undermining capitalist confidence, adding that that the section fiscal assemblage is arsenic feeling the strain, citing complaints from banks that the Central Bank of Nigeria (CBN) has been incapable to honour authorities promissory notes.
He truthful called for urgent reforms and liable fiscal absorption to reconstruct economical stability, capitalist confidence, and sustainable improvement successful Nigeria.
His words, “The taxable of this Conference is astir due astatine this clip of our development. Record shows that Nigeria arsenic astatine contiguous is simply a large debtor country, Nigeria’s full nationalist indebtedness is enactment astatine N152.4 trillion oregon $99.7billion.
“Consequently, astir concern companies from different countries bash not privation to put successful this debtor country. As I americium talking to you now, I cognize arsenic a information that our banks are complaining that the Central Bank is not honouring Promissory Notes issued by authorities connected the allegation that the Federal Government successful in indebtedness and cannot wage the Central Bank.
“The main relation of a authorities is contained successful Section 14 of the Constitution. For avoidance of doubt, it reads arsenic follows: The Federal Republic of Nigeria shall beryllium a State basal connected the principles of ideology and societal justice.
“It is hereby, accordingly, declared that: Sovereignty belongs to the radical of Nigeria from whom authorities done this Constitution derives each its powers and authority;
“The information and payment of the radical shall beryllium the superior intent of government. The information by the radical successful their authorities shall beryllium ensured successful accordance with the provisions of this constitution”.
In his lecture titled: ‘Transformational Leadership successful an Insecure and Disruptive Era: Building Ethical, Resilient and Impactful Leaders for Africa’, a improvement adept and founding Executive Director of African Centre for Leadership, Strategy and Development (CentreLSD), Otive Igbuzor identified transformational enactment arsenic a large instrumentality indispensable to combat atrocious governance, corruption, unemployment, sex inequality and biology degradation successful Nigeria and Africa astatine large.
Igbuzor, who noted that Nigeria and Africa necessitate a caller procreation of leaders who tin situation accepted approaches and beforehand innovations, explained that transformational enactment volition alteration the authorities to reward merit, integrity and innovation alternatively than mediocrity and patronage.
The adept added that Nigeria indispensable beryllium guided by the imperatives of Ethical Leadership, Innovative Education, Institutional Integrity, Inclusive Governance and Continental Collaboration, calling connected the national authorities to institutionalise enactment grooming crossed schools and universities successful ensuring that enactment enactment becomes arsenic indispensable arsenic literacy.
In her address, the Vice Chancellor of the university, Professor Smaranda Olarinde noted that the league was timely, arsenic it emphasizes the captious value of international, determination and public-private concern successful tackling the underlying challenges specified arsenic insecurity, hunger, poverty, infrastructural decay and economical uncertainties.
The station Nigeria’s rising indebtedness illustration scaring distant overseas investors – Afe Babalola appeared archetypal connected Vanguar...
English (US) ·