Popular television host and Arise TV presenter, Rufai Oseni, became emotional on Friday as he lamented Nigeria’s economic decline, questioning how the country moved from lending money to international institutions to becoming heavily indebted.
Speaking during the Arise TV Morning Show, Oseni said he was deeply saddened by the country’s current economic situation, recalling a period when Nigeria was financially strong enough to provide loans to global financial institutions.
“I cried for Nigeria this morning. Let me read something to you and show why I sometimes raise my voice about this country,” he said.
According to Oseni, on December 24, 1974, Nigeria entered into a long-term agreement with the World Bank under which it provided $240 million in net resources to the institution’s reserve.
“On December 24, 1974, Nigeria signed a long-term borrowing agreement with the World Bank. Under that agreement, Nigeria provided $240 million in net resources to the World Bank Reserve.
“We were lending money to the World Bank to support development in other countries. We also lent $120 million to the International Monetary Fund, IMF. What happened to this country?” he asked.
Oseni’s comments come amid growing concerns over Nigeria’s rising debt profile and the Federal Government’s continued reliance on borrowing to finance budget deficits and infrastructure projects.
His emotional remarks have since sparked conversations on social media, with many Nigerians reflecting on the country’s economic trajectory.
