Nigerians are now very worried and are asking several questions over the present debt situation of the Federal and State governments.
In recent years, the government at all levels have failed to exhibit a high sense of responsibility in managing borrowed funds. Are the incurred debts at a sustainable level?
Nigerians wish to know.
Obviously, the heavy indebtedness of a number of states is a reflection of the major reason why those in authority occupy public offices.
Indeed, the lack of prudence in the management and utilization of borrowed funds and the disability of measures that will guarantee transparency are two major characteristics of debt management in the country.
The country's debt profile is disturbing, while the capacity of the different levels of government to manage their debts is questionable.
Most importantly, the domestic debt data of all the states ought to be made public for Nigerians to know the financial status of these states.
This will go a long way to determining the fate of preferred candidates for elective positions in the 2023 general elections.
Sadly, millions of Naira have been frittered away to promote the activities of cultists, hoodlums and other categories of criminals by Those-in-Charge, as can be seen in the Olorunsogo, Molete, Felele, Scout camp and other communities in Ibadan, Oyo state, Nigeria, just as the crowd at available sources of doubtful sources of water establishes the fact that development is still a mirage.
Note- The liability value of appendages of serious candidates for elective offices in the 2023 general elections in the guise of political party candidates is not only a disservice to democracy, but also a threat to the electoral process.