The leader of the INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has cautioned President Bola Ahmed Tinubu to stop the administration’s frequent borrowing, warning that Nigeria will sink economically if the trend continues.
In a statement signed by his media aide, Osho Oluwatosin, and issued on Saturday, Primate Ayodele said the unceasing loans show the country has failed to use its resources to better the nation. “Stop borrowing money, we have resources in states like Taraba, Zamfara. Nigeria will go on sale with the way Tinubu is going about borrowing money. The country will sink if we are not careful,” he said.
He explained that Nigeria has resources in several states, including Taraba, Zamfara, and Kogi, noting that those resources can be used to make the country self-sufficient. “Borrowing will kill the Nigerian economy; use resources in some of our states to make the country better,” Ayodele added.
The cleric said Nigeria is already carrying debt that can never be fully repaid, despite having resources to save the economy instead of relying on debt. “We are on a debt that can never be fully repaid, but we can use what we have to save the economy instead of these debts. The country is rich already; let us not get to a level where nobody would want to borrow from us money again,” he warned.
Ayodele argued that frequent borrowing indicates the country has not effectively utilized its natural and economic resources. He said continuous loans will cause the country’s economy to decline if proper attention isn’t given. “The unceasing loans will make the country sink economically if care isn’t taken,” he stated.
He urged the government to focus on exploring and developing untapped natural wealth in states such as Taraba, Zamfara, and Kogi to drive national growth and promote economic self-reliance. “Use the national resources that we have for money. Partner with states who have mineral resources. It will help. Take the mineral resources to China; to places where they need it to money,” he said.
The cleric further warned that unchecked borrowing could weaken Nigeria’s economic stability over time and place unnecessary pressure on citizens. He said loans not tied to productive investments could exacerbate economic challenges rather than resolve them. “This truth won’t allow them love me, and I’m not forcing it,” Ayodele said, adding that his message is focused on national interest rather than personal approval.
He advised the Federal Government to redirect its focus toward strengthening local industries, investing in mining, and creating policies that encourage internal revenue generation rather than external dependence. Ayodele also cautioned against relying on what he described as “wrong economic advisers,” urging leaders to seek guidance that aligns with Nigeria’s unique economic realities.
The comments come amid ongoing debates over Nigeria’s debt profile and fiscal policies, with economists and stakeholders calling for more sustainable approaches to economic management.
