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Stop sinking Nigeria, South East youths urge Buhari



The Coalition of South East Youth Leaders (COSEYL) yesterday deplored Federal Government’s frequent loan requests, noting that the action was mortgaging the future of the country and generations unborn.

The group was reacting to Tuesday’s plea by President Muhammadu Buhari to get National Assembly nod to borrow fresh N2.343 trillion to fund the 2021 budget deficit of N5.602 trillion.

In a statement issued yesterday in Enugu, the youths stated that a country, with financial needs, could apply for loans to tackle urgent matters, stressing, however, that “a situation where the President collect loans almost on a monthly basis leaves much to be desired.”

Insisting that the most populous nation was in “serious trouble the way President Buhari is going about loan issues”, the apex socio-political Igbo youth organisation, urged Nigerians to be interested about the economy.


Signed by the President and Secretary General, Goodluck Ibem and Kanice Igwe, COSEYL, which implored the National Assembly to avoid plugging the country into doom by giving approval to the numerous loan requests, added: “We cannot all keep quiet and watch our collective country go down the drain as a result of poor financial management and unprofessionalism on the part of those saddled with the responsibility to manage the country’s economy.

“That one has a Bachelor’s degree in Economics does not qualify him or her to be appointed the Minister of Finance. It is the only one with domestic and international economic knowledge, contacts, experience, wisdom, understanding and intellectual capacity that can really handle the office of the Ministry of Finance and be able to make meaningful impact.

“With the way things are going, the countries we are borrowing from will soon take over the nation if we fail to pay back the facilities when thy are due for repayment. Nigerians will be forced to become slaves in their own country.”

Referring to recent news about the Central Bank of Nigeria’s (CBN) printing of naira notes to meet funding gaps, the youth leaders stated that the action could only lead to abject poverty, stressing that the mode of appointment of those in the financial sector had taken a toll on the country.

They continued: “We cannot pretend that all is well when we are in a serious financial mess. The country is in a comatose state and needs urgent help to avoid total collapse.

“If the President has the interest of the country at heart, first, he must ensure that the ban on open grazing by the southern governors is implemented to the letter so that farmers can go back to farm to produce food for domestic use and exports.”


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