SERAP sues Nigerian govt over ‘secrecy in spending of loans, debt crisis’

has filed a lawsuit against the government of President Muhammadu Buhari over “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 states, debt crisis, and the disproportionately negative impact of these retrogressive measures on poor Nigerians.

SERAP is arguing that “The crippling debt burden is a human rights issue within the jurisdiction of the ECOWAS Court because when the entire country is burdened by unsustainable debts, there will be little money left to ensure access of poor and vulnerable Nigerians to legally enforceable socio-economic rights.”

In the suit filed by SERAP’s lawyers, Kolawole Oluwadare and Opeyemi Owolabi, the organisation contends that “Long-term unsustainable debt can be a barrier to the government’s ability to mobilize resources for human rights, and may lead to taxes and user fees that impact negatively on vulnerable and marginalized Nigerians.”

“The ability of the Nigerian government to ensure human rights is inextricably related to the ability to spend needed resources. Growing debt burdens and debt repayment difficulties will have negative impacts on the ability of the Defendant to fulfill the basic socio-economic rights of poor and vulnerable Nigerians.”

“This followed previous approvals by the National Assembly of $16.2 billion loan; €1 million and a grant component of $125 million loan; $36.8 billion, €910 million loans, and a grant component of $10 million; $8.3 billion and €490 million loans; $6.1 billion, $1.5 billion and 995 million loans; and $4, €710 million and grant component of $125 million.”

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