The recent call by Vice President Shettima for debt forgiveness for developing countries at the 79th United Nations General Assembly (UNGA79) has sparked intense scrutiny and skepticism from the international community. Nigeria’s reputation for corruption, mismanagement, and lack of transparency has raised questions about the government’s ability to effectively utilize borrowed funds.
Nigeria’s corruption problem is well-documented, with the country ranking 149th out of 180 nations in the 2023 Corruption Perceptions Index. This highlights the pervasive nature of graft and bribery within the government, leading to the embezzlement of funds meant for development projects, inefficient resource allocation, and a lack of accountability and transparency.
The international community’s perception of Nigeria’s leadership as insincere and corrupt undermines the country’s ability to secure debt forgiveness. This credibility crisis has far-reaching consequences, including reduced international cooperation and investment, limited access to concessional loans and aid, and decreased influence in global forums.
Key issues undermining Nigeria’s credibility include a lack of transparency, inefficient resource allocation, and insensitivity to the plight of its citizens. To rebuild credibility and make a stronger case for debt forgiveness, Nigeria’s leaders must prioritize implementing anti-corruption measures, ensuring effective resource allocation, increasing transparency, and promoting accountability and good governance.
By addressing these concerns and demonstrating a commitment to responsible governance, Nigeria can begin to rebuild its credibility and regain the trust of the international community. It is essential for Nigeria to take concrete steps to combat corruption, improve transparency, and prioritize the needs of its citizens in order to make a compelling case for debt forgiveness and secure much-needed support from the global community.
CHIEF AMEH PETER
NATIONAL SECRETARY, CUPP
FORMER NATIONAL CHAIRMAN IPAC
EX PRESIDENTIAL CANDIDATE”
