…Says: SDGs on brink of collapse
By Luminous Jannamike
The Centre for Human Rights and Civic Education (CHRICED) has joined forces with Bill Gates to call for immediate debt relief for Nigeria and other African nations.
This urgent appeal comes as the Sustainable Development Goals (SDGs) hang in the balance, threatened by the crippling debt burden plaguing many African countries.
Nigeria’s escalating debt profile, now surpassing $103 billion, has raised alarm bells among experts. CHRICED’s Executive Director, Zikirullahi Ibrahim, stressed the need for collective action to tackle the debt crisis, echoing Bill Gates’ warnings about the devastating impact of debt on Africa’s economic growth and human development.
Debt Crisis Consequences
– Increased poverty
– Reduced economic growth
– Decreased investment in essential public services
CHRICED highlighted that Nigeria’s economy is particularly vulnerable due to its reliance on oil exports and exposure to global market fluctuations. The debt crisis threatens progress toward achieving the SDGs, particularly in poverty reduction, quality education, and healthcare.
A Call to Action
CHRICED emphasized that the debt crisis is paralyzing and undermines all development efforts. With 20 African nations in or at risk of debt distress, urgent action is needed to prevent catastrophic outcomes. The organization pointed out that the 1982 Latin American debt crisis lasted over 20 years, causing widespread suffering before its resolution in 2005.
As Bill Gates noted, helping countries fight poverty and disease ensures global stability and safety. Foreign aid delivers an excellent return on investment, and progress on polio eradication demonstrates what can be achieved through bold, determined collective action.
The post Nigeria’s debt crisis: CHRICED, Bill Gates call for immediate relief appeared first on Vanguard News.
