Afe Babalola Urges President-Elect Tinubu to Pursue Debt Forgiveness for Nigeria

ADO-EKITI, NIGERIA – Afe Babalola SAN, the founder of Afe Babalola University, Ado-Ekiti (ABUAD), has offered advice to President-Elect Asiwaju Bola Ahmed Tinubu, suggesting that he seek debt forgiveness for Nigeria upon assuming office.

Babalola drew attention to the example set by former President Olusegun Obasanjo, who spent a significant portion of his administration striving for debt forgiveness on behalf of the nation. He expressed hope that Tinubu would learn from this experience.

The esteemed educationist made these remarks over the weekend during a press interaction following a lecture titled “Smart Infrastructure: Catalyst for Sustainable Development.” The lecture, delivered by Prof. Bamidele Adebisi from the University of Manchester, took place at the Alfa Belgore Hall of Afe Babalola University.

Babalola, referring to Nigeria as the country with the most substantial debt burden today, emphasized the urgent need for debt relief. He stated, “We owe trillions of dollars, and we continue to borrow even as the present administration approaches its final days.”

Highlighting recent reports of the incoming president’s efforts to attract foreign investment, Babalola suggested that focusing on seeking debt forgiveness should be a priority. He further emphasized the weakened value of the Nigerian naira, underscoring the importance of addressing the nation’s debt crisis.

During the lecture on smart infrastructure, Prof. Adebisi discussed the significance of technology in societal development. He emphasized that technology has become an indispensable tool in driving progress and should be leveraged accordingly.

As the nation awaits the inauguration of President-Elect Tinubu, the advice from Afe Babalola resonates with the growing concerns surrounding Nigeria’s mounting debt and the necessity for strategic measures to alleviate the financial strain. The call for debt forgiveness aligns with the goal of setting the country on a sustainable path to economic growth and stability.