Dear International Monetary Fund , WORLD BANK , CHINESE GOVERNMENT, African Development Bank all other countries and loan bodies across the world please stop loaning , lending, borrowing money to the Nigerian government, Nigerian Central Bank and Nigerian Politicians.

If the Nigerian government is in need of funds to run the country we the undersigned recommend they should cut down the high amounts of money they pay government officials as salary and bonuses. We the undersigned also recommend they should come up with other creative ways to raise funds within the country without deteriorating  the standard of living of the citizens of Nigeria.

We the undersigned Nigerian youths, Nigerian Citizens and the tax paying generation will NOT be held accountable nor responsible to pay back any loans granted to the Nigerian government, Nigerian Central Bank and Nigerian Politicians.

If any loan body or country chooses to invest money in Nigeria they should do so knowing fully well that We the undersigned Nigerian youths, Nigerian Citizens and the unborn generation will NOT be held accountable nor responsible to pay back any loans granted to the Nigerian government, Nigerian Central Bank and Nigerian Politicians.

If any loan body or country chooses to send financial aid to Nigeria they should do so knowing fully well that Nigerian Citizens owe them absolutely nothing in return for their kind gesture other than kind words of appreciation.

From the moment of creation of this petition, any foreign country or international loan organizations that agrees to borrow money, lend money or loan money to the Nigerian government, Nigeria Central Bank, Nigeria politicians or any other individual or body claiming to represent the Nigerian Citizens and tax payers do so at their own expense as we the undersigned Nigerian youths, Nigerian Citizens , Nigerian tax payers and the unborn generation will NOT be held accountable nor responsible to pay back any loans granted to the Nigerian government, Nigerian Central Bank and Nigerian Politicians.

THE REASON FOR THIS PETITION

Nigerias Debt stock rose by over 160% in 6yrs from N12 trillion in 2015 to N33 trillion  in 2021 and it is still projected to raise more significantly before the end of 2023.

The standard of living of the average Nigerian has not increased by 160% or more since accepting these loans, health care and Infrastructural development across the country has not increased by 160% or more since accepting these loans, as it's public information that the current President Buhari still seeks healthcare abroad at the expense of taxpayers. The purchasing power of the Naira has not increased by 160% or more since accepting these loans, many other factors that would have benefitted the Nigerian Citizens directly has not increased by 160% or more since accepting these loans from IMF, WORLD BANK, FOREIGN COUNTRIES, third parties LENDERS and LOAN bodies across the world that are not citizens nor tax payers of Nigeria.

There has been growing concerns by stakeholders, experts and ordinary Nigerians over the rising public debt in the country.

This is coming at a time when the country utilizes a large chunk of it’s revenue to service it’s debt.

For instance, in the 2021 appropriation Act, the federal government budgeted N3.12 trillion for debt servicing out of a projected revenue of N7.89 trillion.

Similarly, in a report of budget implementation of the federal government which ended in December 2020, the total revenue earned by the federal government in 2020 amounted to N3.93 trillion.

The figures means that the federal government recorded a 27% drop from the target revenues of N5.365 trillion.

However, to the amusement of many experts and stakeholders, debt service for the year was put at N3.26 trillion which represents about 82.9% of the total revenue gotten in the the year 2020.

In another development, the Nigerian Senate has again approved fresh external loans of N1.02 trillion ($1.5 billion and €995 million) for the Federal Government.