raufu from nigeria on debt


My name is Abdul Raufu Mustafa. I'm from Nigeria and I live in Cowley in England. The issue that Nigeria really is bothered about in the conduct of the G8 countries is essentially debt. In the 70s Nigeria borrowed something in the region of 17 billion dollars. Not all of this money got to Nigeria because of collusion between corrupt Nigerian officials and corrupt bankers. But since then Nigeria has paid over 30 billion dollars and still owes another 34 billion dollars in back interest and penalties and the lot. And that has become a major problem for the country because a lot of resources are being diverted just to service the debt. And this is happening in the situation where 7 million Nigerian kids are not having the most basic of primary education. The health system in the country is in dire condition, the universities, the roads, virtually all public infrastructure. That is a situation which is partly contributed to by internal problems but also no doubt by the debt burden. This is an unsustainable debt. And absolutely something has to be done about it at the level of the G8 so that ordinary people in Nigeria can get a look in to the issues of life.


Abdul Raufu Mustafa is a lecturer in African Development at Oxford University in the UK and is from Nigeria.

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