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The Impact Of Incessant Borrowing On The Nigerian Economy - Politics - Nairaland

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The Impact Of Incessant Borrowing On The Nigerian Economy by Jtmoney4: 4:49pm On Mar 12, 2023
The narrative around multi-million dollar industries have been given a taunted image from the look into the Nigerian borrowing operations.

Over the years, it's been a majorly lucrative ideology dabbling into borrowing and getting investors to in order to finance life changing ideas and subsequently bringing into existence, some of the biggest multi-million dollar establishments and economies.

Taking a look into the case of Nigeria, the incessant borrowing has presented itself as what would be regarded as a menace. Being that Nigeria is a highly ranked terrain for it's ambiguity in corruption, laced with leaders who are very consistent in laundering public funds, the Nigerian Economy has suffered immensely as the heavy rate of borrowing are not translated to proceeds ranging up to even half of the heavy funds being borrowed. This impedes heavily on the Nigerian economy keeping the treasury in deficit and subsequently putting pressure on the Nigerian Naira.

We have a clear case where money borrowed are eventually not properly accounted for and misappropriated on a large scale, with many of the players of these misguided acts shielding with impunity.

It is a bad thing that these operations have left Nigeria heavily indebted to a tune that does not look repairable if the status quo is retained in misappropriation of these borrowed funds and it is unthinkable what the negative effects of these operations would be in the coming years as the effect is terrible on a large mass of Nigerians already.

Will the situation get to a negative breaking point?. Will there be a dramatic positive change in the near future?. These are left to be seen as situations unfold. We can only hope the situation improves because we have seen in the past how heavily depleted economies and its adverse effects have resulted to scenarios of revolution which brings about lots of damages which many people hope and pray never to encounter.

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