A non-governmental Organization, the Civil Rights Concern (CRC) has identified a correlation between the increasing mass unemployment, high debt profile, and widespread poverty in Anambra State with Planning officers, bank policies, and Civil society organizations.
The CRC is also accusing key stakeholders and citizens of not living up to their duties in monitoring actively, what governments at various levels do with funds, especially the series of huge loans they have been taking.
CRC, at an engagement seminar with Stakeholders including media practitioners in Awka, Anambra State, through her Executive Director, Mr. Okey Onyeka, harped on the need to find a lasting solution to the hydra-headed issue of unemployment, increasing debt profile, and increasing poverty in the country in general and South East in particular.
According to him, the need to engage the participants has become imperative because it is a paradox that poverty and unemployment levels would be increasing simultaneously with the mounting debt profile.
Mr Onyeka observed that efforts of the government to inject more money into the economy through loans to stimulate production, job creation, and business expansion have not really worked in our situation.
“This is because our banks were found to shy away from lending to the real sector, instead they tend to lend to the government where repayment plan was almost sacrosanct, unlike the private sector which was fraught with uncertainties.
“Consequently, the interaction with the planning officers would help them be more careful in whatever they articulate and put into the state/national budget proposals,” he said.
Mr Onyeka pointed out that it has become a common occurrence in the South East to have a huge gap between Capital Expenditures and Recurrent Expenditures.
“We put this engagement together to open the eyes of the people to know what is happening in the South East states especially, as poverty level has continued to grow yet debt profile is also increasing.
“The implication of the above is that the loans obtained by various governments in the zone are not effectively used to create wealth. If past and present administrations had been using borrowed monies for capital expenditure, the poverty level would have been reduced considerably.
“Ndi-Igbo don’t beg, government at all levels should do everything in their powers to prevent pushing them into unnecessary poverty and begging for survival,” he warned.
The CRC boss said the issue of increasing debt and poverty profiles will be checkmated if all the loans taken by the duty bearers were judiciously utilized and closely monitored.
The CRC, he added, “will continue to sensitize the public through the media and regular positive engagement with critical stakeholders so as to ignite their interest in instilling budget discipline in government officials through close monitoring and speaking out whenever not satisfied or clear.
“We are working towards ensuring that the government makes public, information on the loans obtained on a website, so that individuals can go there and see things for themselves.
“Borrowed money should be used to build capacity and create wealth, not consumed. In doing this, the government should discuss with the people before going for any loan.
“For instance, Universal Basic Education (UBE) is working in Japan but in Nigeria, many children are still seen roaming the streets during school hours. It’s not acceptable at all,” Mr Onyeka stated.
He appealed to the South East governors to always endeavor to complete all the uncompleted projects initiated by their predecessors as they must have been designed to benefit the masses and reduce poverty.
He applauded the Anambra State governor, Prof Charles Soludo whose 2024 budget has 75% Capital Expenditure and 25% Recurrent Expenditure.
