The National Consultative Front has called on youths in the country to rise up and take back the country from the current leaders who have mortgaged their future.
In a statement by the youth wing of the NCF on Friday, it accused the federal government of mortgaging the future of youths in the country with the various loans collected by the federal government.
The statement signed by the Head of the Youths Relation Bureau, Jude Feranmi, said following media report that 97 per cent of revenue generated by the Nigerian government between January and May 2020 was spent on debt servicing, the youth wing of the pan-Nigeria political movement, NCF has cried out over the mortgaging of the well-being and future of Nigerian Youths by the government’s non-discretionary debt servicing and penchant for loan taking.
“The unfortunate economic situation, where the country has been plunged, should be enough reason for the long-suffering youths of Nigeria to join hands with the National Consultative Front, NCF to rescue their future by demanding a real change in government policies that reinforce their sufferings through misappropriation of Nigeria’s common patrimony.
“It will be recalled a national daily reported on Thursday that the 2021 budget call circular published by the Budget Office disclosed that the federal government generated a total revenue of N1.62trillion out of the N2.62 trillion projected for between January and May 2020, and that within the five months, N1.58 trillion, representing 97.5 percent of the N1.62trillion generated, was expended on debt servicing.
“Again with the International Monetary Fund, IMF, projecting that debt servicing will gulp all revenues in Nigeria in 2020, and a possible fiscal deficit of 5.1trillion is envisaged in 2021, NCF is compelled to disagree with government’s resort to imposing ridiculous taxes and charges over already impoverished Nigerians, who are currently pauperized by callous policies of government and unconscionable looting of the treasury by public officials”.
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