N42.84 trillion Debt: Stop mortgaging future of Nigerians, NASU warns FG

Non-Academic Staff Union of Educational and Associated Institutions, NASU, on Wednesday raised the alarm that the future of the country is being mortgaged as a result of excessive borrowing and called on the Federal Government to stop the trend.

NASU also called on the government to set up a Judicial Commission of Enquiry to investigate and prosecute all those fingered in oil theft like the top military officials, public officials and their collaborators in oil companies.

This is as the union has demanded for a 100 per cent increase in the salaries of its members to cushion the astronomical increase in cost of living.

The President of NASU, Dr. Makolo Hassan in his welcome address at the union’s National Executive Council, NEC, meeting in Abuja, said despite the high debt profile, the government still plans to borrow N8.4 trillion in 2023.

Comrade Hassan said, “According to the Debt Management Office (DMO)statistics, Nigeria’s total debt as of 30th June, 2015 stood at N12.12 trillion. By 30th June, 2022, the figure had risen to N42.84 trillion which showed an increase of 253.47 percent.

“Experts are saying that Niggeria’s debt service cost presently outweigh the its revenue. Despite the high increase in debt, the government still plans to borrow N8.4 trillion in 2023.

“We are calling on the Federal Government to stop the mortgaging of the future of this country through excessive borrowing.”

NASU decried the effect of oil theft which is being discussed on daily in the country.

It said, “It is needless to bother you with them here. However, for long, accusing fingers have been pointed at top military officials, public officials and their collaborators in oil companies as the thieves involved in stealing the nation’s oil.

“We are therefore calling for a Judicial Commission of Enquiry to investigate and prosecute all those found to be involved in this criminal economic sabotage against the nation and her people.”

On the inflation rate and its attendant high cost of living, NASU demanded an increase in the salaries of staff of universities and inter-university centers during their negotiations, which caused the Federal Government to grant a salary increase of 23.5 percent to staff.

Hassan said, “NASU is hereby demanding for a Cost of Living Adjustment (COLA) of 100% in order to take workers salaries from below the poverty line to the poverty line. It therefore means that we are demanding for a 100% increase in the salaries of all NASU members in all the sectors.”

The union further lamented that despite the high rate of poverty in the land, some states still owe workers up to twenty months salary.

“There are states where workers have not been paid for over twenty (20) months. In some states where salaries are paid, workers are paid umputated salaries against their legal entitlements.

“Majority of State Governments have not implemented the National Minimum Wage yet governors of these states move about in chartered jets and convoys of luxury vehicles within their states with their families enjoying everything free of charge.

“Poverty in Nigeria is government induced. It can be eradicated or brought to the barest minimum if government officials at all levels show the will to curb their greed and avarice,” NASU said.