Aare Afe Babalola (SAN), a renowned lawyer and the founder of Afe Babalola University in Ado Ekiti, has demanded an inquiry into how Nigeria got into its current precarious financial situation.
Babalola issued a warning, saying that in order to keep the nation from being destroyed by socioeconomic crises, immediate action regarding the level of debt is required.
Shortly after 161 newly graduated doctors from the university—who were trained by the Medical and Dental Council of Nigeria—were officially welcomed, the founder of ABUAD gave a speech in Ado Ekiti on Friday.
“Nigeria is among the world’s biggest debtors,” stated Babalola. I think we should look into how we ended up owing several trillions of naira. What did we buy with it? The majority of the money, I can guarantee you, is in the pockets of those who claimed to have collected it.
The senior advocate requested that the Federal Government, led by President Bola Tinubu, follow the example set by former President Olusegun Obasanjo in 1999 in order to obtain debt cancellation or relief for Nigeria.
Babalola stated, “This debt will cripple this country and it may lead to anything unless we do that.”
In the second quarter of 2023, Nigeria’s total public debt increased to N87.37 trillion, according to data released by the Debt Management Office in September.
Babalola asserts that the nation’s present economic woes are a result of decades of poor economic management.
“I have witnessed people becoming more agitated, particularly in the North, due to the depreciating value of the naira, rising food prices, a lack of jobs, and underpayment of those who do have jobs.” The lack of money and the value of the naira is the cause of all of these problems. Concerning the naira and productivity, action must be taken.
Babalola demanded pay raises for medical professionals in order to stop their ongoing exodus overseas.
“We have lost so many doctors, professors, and young men due to japa (emigration), and this has to stop,” he declared.
“A pay raise for employees is one way to put a stop to it, and I personally implemented one. For the past four months, ABUAD has been paying a 35 percent salary increase to its teachers on the 25th of each month. This is a practice that will continue.
Second, it’s important to encourage Nigeria to produce. For fear of being abducted, farmers have now abandoned their properties. Kidnapping must be addressed, and farmers must be persuaded to return to their farms as much as feasible, according to Babalola.
But the founder of ABUAD cautioned the new physicians not to let the nation’s current problems depress them, stating, “The world is a world of problems.” The only people who succeed in life are those who have the guts to face these issues head-on and find solutions.
When he inducted the new physicians, MDCN Registrar Dr. Tajudeen Sanusi counseled them to follow the medical profession’s very regulated ethics and oath.
Sanusi told the new doctors not to go near Japan, saying, “We need you more here in the country.”
Additionally, Dr. Babatunde Rosiji, the Chairman of the Nigeria Medical Association’s Ekiti State branch, who welcomed the new physicians into the organization, counseled them to prioritize skill over money when selecting an internship location.
“You have qualified as medical doctors at a time when it is fashionable to join the Japanese train,” Rosiji said to them. Even though the hapa train is financially rewarding, you must understand that, regardless of how much you paid for this degree, your country has done you a favor by providing you with this certificate at no cost. You are qualifying at a time when your country also needs you the most. Proceed to confirm.