Former Anambra State Governor and Labour Party’s 2023 presidential candidate, Mr. Peter Obi, has raised the alarm over Nigeria’s mounting debt profile, warning that the country’s future is being sold off through reckless borrowing and wasteful government spending.
Speaking passionately on Wednesday at the investiture of Blessing Ngozi Osakwe as the 12th President of the Society of Women Accountants of Nigeria (SWAN) in Lagos, Obi charged Nigerian accountants, particularly women, to rise as the conscience of the nation and lead the resistance against fiscal indiscipline.
“Our children’s tomorrow is being squandered today. We are borrowing and spending away their future. This recklessness must stop. You, as professionals, cannot afford to stay silent. Hold those in power accountable,” Obi declared, drawing resounding applause from the audience.
Drawing from his experience in banking and public service, Obi emphasized the critical role women play in enforcing financial discipline. He recalled how, during his tenure as a bank chairman, a female risk manager stopped potentially disastrous decisions, and as governor, women in top financial positions—including two accountant-generals and a finance commissioner—ensured prudence and transparency in state finances.
“Women accountants have the courage, integrity, and firmness to demand discipline where others might compromise,” he said, urging SWAN members to confront government excesses with professional boldness.
The former governor painted a grim picture of Nigeria’s economic trajectory, warning that unless financial mismanagement is curbed, the nation risks an unsustainable debt burden that will cripple future generations.
“This is a critical moment for Nigeria’s survival. A new Nigeria is not just a dream—it is possible. But it depends on people like you refusing to look away,” Obi told the gathering of professionals.
Obi’s remarks underscore growing national anxiety over the Federal Government’s borrowing spree, which economists say has reached alarming proportions, with debt servicing now gulping a staggering portion of the country’s revenue.
PIONEER NEWS 