Nation’s mounting debt worries Archbishop

The Dean Church of Nigeria (Anglican Communion) the Most Rev. Dr. Ephraim Adebola Ademowo, has advised all levels of Government to cut down on borrowing.

In his new year message which touched on the nation’s various problems, the Most Rev. Ademowo who is also the Archbishop of Lagos, stated that if it becomes necessary to borrow, it must be for the provision of infrastructure such as power, roads, refineries and others that would help the economy to grow.

In the message entitled, There is Hope, the Archbishop frowned at the nation’s rising debt profile which has been put at $44, billion as at June 2012 and a domestic debt of $38 billion.

He however, expressed hope for a better future as long as the nation does what is right and proper, adding that despite our numerous challenges, God is sustaining us                        .

“In year 2012, our dear country, weathered through all kinds of storms and survived, including the storms of wanton destruction of lives and properties, economic depression, natural disaster (flood in some parts of the country) kidnapping, rise in crime due to the increasing rate of unemployment. God is always on our side and there is hope if we all rise to do what is right and proper as a people and as a Nation”, he stated.

Describing youth unemployment in the nation as a “time bomb waiting to explode”, he called on the government to view it as serious and to provide for job creation so that crime would reduce.

He prayed for forgiveness and peace of the nation, concluding with the prophetic words of Isaiah, ‘Every valley shall be raised up, every mountain and hills made low, the rough ground shall become level and the rugged places a plain.  And the glory of the Lord will be revealed and all mankind together will see it, for the mouth of the Lord has spoken”.

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