The Nigerian Indigenous Nationalities Alliance for
Self-determination (NINAS) has urged global financial institutions to stop giving loans to
Nigeria.
NINAS, which is a multi-ethnic alliance comprising southern
and middle belt leaders, said the country is a “disputed project” and that
indigenous Nigerians cannot continue to repay such loans.
In a statement on Sunday, the group added that further
borrowings to the country would be seen as “negligence”.
Chaired by Banji Akintoye (pictured), NINAS had earlier
asked the government to conduct a referendum for the “indigenous people of
southern and middle belt of Nigeria”.
In the statement by Shade Olukoya, chairman of its steering
committee, the group said it stands by its position in December 2020 “when we
declared a Constitutional Force Majeure.”
The statement read: “We remind the International Community
that Nigeria is now a disputed project. This was articulated in our Press
Conference of 16 December 2020.
“Subsequent activities as articulated at Press Conferences
of 17 March 2021, and 17 April 2021 emphasise that Nigeria remains a disputed
project. Knowing this and lending to a disputed project can only be considered
negligence.
“For the avoidance of
doubt, the Indigenous Nations will not, and cannot be expected to repay such
loans or allow their assets to be used as collateral to offset the loans.”
Nigeria has been struggling under the weight of increasing
public debt stock which stood at N32.92 trillion as of the end of 2020.
A greater part of the debt was incurred under President
Muhammadu Buhari.
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