Nigeria’s debt burden, borrowing is worrying – Adeboye
In his sermon to commemorate Nigeria’s 61st independence anniversary on Sunday, the revered pastor said it was worrying that the nation was spending “98%” of its income on debt service.
Adeboye, who heads one of the country’s largest congregations, gave his assessment of the country’s dismal economy a week after ICIR published a report which showed that Nigeria was getting closer to the debt trap.
When invited to preach at a program in Abuja the previous Sunday, he asked economic experts what they meant by how much Nigeria needed to service its debt, he said. declared.
“They said it was the interest we paid on the debt, something you pay so they know you’re still alive.
“And they said that what we have to pay to keep the debt breathing is about 98% of our income.
” We have problems. And we are borrowing a little more, ”Adeboye said.
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He said that despite the country’s economic situation, God was able to turn the tide.
Speaking about the insecurity, Adeboye said the bandits and other marauders had violated all known standards by committing their acts.
He said the kidnappers had stepped up their game by kidnapping revered monarchs.
“We all know our problems. Kidnappers don’t even kidnap people on the road anymore. They enter the houses of the rulers, kidnap the rulers. It is sacrilege to touch a ruler. When I was young, I don’t know what the situation is; if you saw Kabiyesi (monarch) coming, you would step aside for him to pass. You wouldn’t want her dress to touch you. He has so much power, so much honor and majesty around. So, are people going to kidnap an executive? He asked.
He said that with God’s intervention, there would soon be an end to economic hardship, banditry and kidnappings in the country.
Meanwhile, Adeboye said deaths from COVID-19 in the country have been lower than the number of people who have died from snakebites in the past two years.
While highlighting the power of prayers to stop the pandemic and other crises, the 78-year-old cleric said he recently read that the number of people who died from snakebites was around 2,000 during the last year.
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He said that meant four thousand people could have died from snakebites in two years.
He said the number of people who died from COVID-19 were not up to 3,000 in the country since the country recorded its first pandemic case in February 2020.
“They are fewer than those killed by snakebite because there is a God who answers prayers,” he said.