Sir: The recent debt owed Nigeria by the management of the Nigerian National Petroleum Company Limited (NNPC Ltd) which the President purportedly wrote off is something Nigerians must never take lying down.

The legality of the President’s action must be called to question in this particular instance because there is every tendency the President has acted ultra vires of the nation’s constitution. How the President came about the decision to write off such a whooping sum of $1.42 billion and #5.57 trillion is hard to understand. Could such action possibly be as a result of a desperate ambition to win the next election? Or a bid to avoid stepping on toes of powerful people who would be exposed in the event of probe?

Whatever could be the reason, Nigeria is not yet a military regime where the citizens have no say about whatever action is taken by the junta. In a democracy, no single individual has the power to write off something that belongs to all citizens in such a brazen manner as the President has done and this is why the National Assembly should, as a matter of urgency, take up this issue with all the seriousness it deserves and reverse that decision in the interest of Nigeria and all Nigerians.  

Accepted that the humongous amount has been a matter of controversy for decades even before the incumbent regime came on board,  all that ought to be is for those involved be invited for questioning and whoever is found culpable of any misdemeanor made to answer for it or prosecuted as may be necessary.

Such stupendous national wealth cannot be written off in a country in dire need of funds for decaying infrastructure, moribund health sector and an education sector without requisite funds to perform optimally.

Besides, such a large amount cannot be wished away and anyone would expect accountability and honesty from any public officer any longer for it must have sent a wrong signal that governance is now all about grabbing and looting while the opportunity lasts.

This definitely is an ill wind that would never bring anything good to Nigeria. Right now, the Economic and Financial Crimes Commission is still grappling with trying to recover so massive funds diverted into private pockets by officers that served in the immediate past regime.

Yet, all the funds flying recklessly in different directions are those meant to fix Nigeria and make it a country that works for all. Nigerians ought not to litter all neighbouring countries and foreign lands just because of extremely poor governance at home. There ought to be creation of massive employments to divert the attention of the youths away from cybercrimes.

The nation’s hospitals ought to be of world class standard in order to discourage medical tourism. The roads which have remained death traps for decades ought to be top-notch by now to save Nigerians from ceaseless untimely deaths. Education needs much funding to bring it to world standard and Nigeria’s labour force needs adequate welfare package to bring laughter to everyone.

If the National Assembly is unable to take up this serious issue because of its rubber stamp nature, the Nigerian Bar Association (NBA) or Nigeria Labour Congress (NLC) should fill in the gap. What has happened is akin to Nigeria being sold in broad daylight and all Nigerians must rise up to shout: Capital No!

Jide Oyewusi is the coordinator of Ethics Watch International Nigeria.