Nigeria’s Endless Borrowing Despite Huge Resources Lamentable – Prof. Ebhomien

Professor John Ebhomien, a chieftain of the All Progressives Congress (APC), is a former Consultant to the United Nations Office on Project Services. The former World Bank/International Monetary Fund (IMF) economist and financial management expert, in this interview with EJIKEME OMENAZU , he took a critical look plans by some political forces to wrestle power from his party, the continued resort to foreign loans, the recent Uromi killings, among other issues. Excerpt: As an Esan, Edo State-born leader and politician, how do you view the recent ruling of the Edo Governorship Tribunal? The recent tribunal judgment on the Edo governorship election is a good development.

I want the judiciary to do a good job. My ad­vice to the governor is to extend his magnanimity to the Peoples Democratic Party (PDP) to move Edo State to the next level. Edo State belongs to all of us, whether indigenes or non-indigenes.



The hallmark of a good leader is to en­sure there is peace and tranquili­ty in all nooks and cranny of Edo State. The responsibility of any good government is the protection of lives and properties. Now that the tribunal has affirmed Monday Okpebolo as the winner of the governorship election, he should endeavour to go down to business and execute his programmes that will be of great benefit to the peo­ple of Edo State.

What is your advice to the losing party, which has indicated interest in appealing the Edo tribunal ruling? Sincerely speaking, my advice to Asue Ighodalo, the Peoples Democratic Party (PGP) gover­norship candidate, is to accept defeat in good faith. He should remember that everybody cannot be a winner at the same time. He should be magnanimous in defeat and graciously extend his hands of fellowship to Governor Okpe­bolo on how to move Edo State to a viable level.

He should save his time and money by not going further with the case. It may be an exercise in futility, Res Ipsa lo­quitur. The facts of the judgment are clear.

Would you say Governor Monday Okpebolo has been performing well since he took over from Godwin Obaseki? In fairness, Governor Okpe­bolo has performed well since he assumed office as governor of Edo State. There is still room for improvement, especially in areas of security, community relations, agriculture, health, education, road infrastructure and inter-per­sonal relations with other ethnic groups. How do you see the declaration of State of Emergency in Rivers State? The declaration of the State of Emergency in Rivers State is a welcome development.

Mr. Pres­ident cannot allow Rivers State to be embroiled in an avoidable crisis. Since the supporters of Chief Nyesom Wike and Gover­nor Siminilaye Fubara failed to embrace peace, even after Presi­dent Bola Tinubu intervened to ensure that both parties reached amicable settlement, it is there­fore incumbent on Mr.

President to declare a State of Emergency in Rivers State to cool their nerves. Rivers State occupies a strategic position in the economic and po­litical equation of Nigeria. So, the decision by President Bola Tinubu is welcome.

Therefore, I urge the people of Rivers State to cooper­ate with the Sole Administration to restore peace and ensure good governance in Rivers State. I ad­vise the Sole Administrator, Vice Admiral Ibok Ette Ibas (rtd), to work assiduously with military precision to create the much-need­ed environment for good gover­nance and business to thrive in Rivers State. With tension still in Rivers State, do you think the Emergency Rule will not be extended for the initial six months? I think it will be very expedient to extend the emergency rule in Rivers State if the warring par­ties fail to embrace peace and allow the enabling environment for good governance and busi­ness to thrive.

I advise the sup­porters of both Chief Wike and Governor Fubara to support the Sole Administrator, Vice Admi­ral Ibas (rtd) to move Rivers State to the next level. I am the State Executive and Legislature must have learnt the hard lessons and should conduct their affairs with a high sense of responsibility. They should realize that Rivers State is bigger than any indi­vidual or groups of individuals.

They should realise that power is transient. They should write their names in the good book of those who contribute meaningfully to the development of Rivers State. The hapless people of Rivers State are yearning for good governance and dividends of democracy.

A court just stopped the Rivers State Sole Administrator from appointing Local Government Administrators. How do you view the development? The recent pronouncement of the court to stop the appointment of administrators in the Local Governments in Rivers State might have been done in error. The judge should have looked beyond technicalities and thought outside the box.

The whole essence of Mr. President appointing a Sole Ad­ministrator in Rivers State is to ensure that there is peace, good governance and create the need­ed enabling environment for business to thrive. The judgment is counterproductive and may ad­versely affect good governance at the local level.

The law is an ass. Judgment must be seen to be done in an effective faction. What is your take on the killing of some armed Northern travelers at Uromi, Edo State, during the recent Sallah by some vigilantes who saw them as killer herdsmen? The unfortunate killing of these armed men in Uromi, Es­anland of Edo State was done in error.

But, a critical examination of what transpired in the past in Edo Central, especially at Uromi, Irrua, Ekpoma and other adjoin­ing towns must have necessitat­ed the killing of these armed men in self-defence. The killing of those people is condemnable in its entirety. But, the actions of those marauding killer herdsmen that killed several people in EDo State and also raped women in the farms are also condemnable.

I think the governments, both at the state and federal levels should come up with decisive actions to nip in the bud these avoidable kill­ings which have become a daily ritual. We do not want a repeat of what happened in Plateau and Benue states to repeat itself in Edo State. The killer herdsmen must be called to order.

A situation where these killer herdsmen move about with arms unperturbed is unacceptable and condemnable in its entirety, Nobody, I repeat, nobody is above the law. The kill­er herdsmen are not spirits. The security men and secure agencies have responsibility to ensure that the killer herdsmen are brought to book.

They should look at the remote and immediate causes of those killing at Uromi and other towns in Esanland with a high sense of responsibility. How do you see the continued taking of foreign loans when the country is already overwhelmed by huge debt servicing? The continued borrowing by the Federal Government, either from the World Bank or the Inter­national Monetary Fund (IMF) can be described as a child of necessity. The continued reliance on loans to finance the budget is a good example of how things should not be.

The Federal and State governments should en­sure as a matter of urgency, sound fiscal discipline, probity and ac­countability in all ramifications. Nigeria cannot continue to go on borrowing with the huge resourc­es at our disposal. If the resources are properly harnessed and man­aged, there is no need for Nigeria to go cap in hand borrowing.

The government must look inwards to ensure proper control of sources of finances. Sometime ago, the Ni­gerian external reserves rose to $23 billion. Why not use that mon­ey to meet some pressing needs instead of going to borrow with interest? In conclusion, if the bor­rowed money is used effectively for economic growth and sustain­able development, y=that will be fine.

Let there be accountability in the disbursement of funds and loans. A lot of strategising is going on to un­seat the ruling party in 2027 elections. Do you see this feasible? The other political parties that are strategizing towards 2027 elec­tions have the right to do so.

We have seen in the past where people form new parties in a bid to wres­tle power from the ruling party. My candid advice for those strat­egising towards the 2027 elections is to save their time and money because I see it as an exercise in futility. The internal crises within the political parties have created vacuums that will affect their known defeat.

Those who are strategising are doing so for self­ish immolation and self aggran­disement. I do not see any of them taking over power from President Bola Ahmed Tinubu come 2027. What is your take on the raging crisis in the Senate over the suspension of Senator Natasha Akpoti-Uduaghan? The raging crisis in the Sen­ate between the Senate President Godswill Akpabio and Senator Natasha Akpoti-Uduaghan is condemnable.

I advise the Senate President, Godswill Akpabio and Senator Natasha Akpoti-Udu­aghan to reach an amicable set­tlement. The Senate, as a matter of urgency, should recall Senator Akpoti-Uduaghan from suspen­sion. This matter has been in the news and it does not speak of us well as a country.

The matter has been blown out of propor­tion. Nobody is above making mistakes. To err is human and to forgive is divine.

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