Bishop of the Catholic Diocese of Yola, Most Rev. Dr. Stephen Dami Mamza, has issued a passionate appeal to President Bola Ahmed Tinubu, urging him to halt the federal government’s push for fresh foreign loans.
He warned that continued borrowing would mortgage Nigeria’s future and deepen its economic crisis.
Tinubu recently wrote to the National Assembly seeking an additional external loan of over $21.5 billion.
Tinubu is also seeking the red chambers’ green light to issue Federal Government bonds worth N757.9 billion to settle outstanding pension liabilities under the Contributory Pension Scheme (CPS).
But Bishop Mamza, speaking to journalists in Yola on Sunday during the Catholic Church’s celebration of World Communication Sunday, described Nigeria’s current debt burden as “suffocating” and cautioned that piling on more debt could further plunge the country into socio-economic turmoil.
“We have heard about the billions of dollars the government is planning to borrow again. My appeal to President Tinubu is don’t borrow money again,” the Bishop said.
“Instead, there should be proper accountability for the huge sums already recovered by agencies like the EFCC. Nigerians want to know the whereabouts of such monies.”
Mamza emphasised that the solution to Nigeria’s economic challenges lies in strengthening internal revenue generation, plugging financial leakages, and enforcing transparency and good governance, not in taking on new debts.
His warning comes as Nigerians continue to grapple with rising inflation, growing poverty, and widespread insecurity. According to him, many citizens have lost faith in the system due to years of misgovernance and poor economic choices.
Reflecting on the theme for this year’s World Communication Sunday, “sharing with gentleness the hope in your heart,” and noting its significance in a country weighed down by despair.
“This year was declared by the late Pope Francis as the Year of Hope. And in a nation like Nigeria, where so many feel hopeless due to insecurity, poverty, and political instability, the Church is encouraging everyone not to give up,” he said.
He called on the media to be courageous, objective, and truthful in reporting, urging journalists to avoid inflaming tensions while remaining committed to the public good.
“Your work as journalists is dangerous and sensitive. We always keep you in our prayers. But it’s not enough to rely on prayers alone. You must also remain committed to truthful reporting — report the facts without stirring further crisis in our communities,” he advised.
Bishop Mamza also revealed that Nigerian Catholic Bishops are scheduled to meet with the Pope in March 2026 during their Ad Limina visit, a significant consultation where bishops engage with the Holy Father on issues affecting the Church and their dioceses.
He said Nigeria is among the first four countries approved for the visit, reflecting the Vatican’s deep concern over developments in the country.
“Despite everything happening around us, hope must be renewed. Things can change. God is with us, but we must also take responsibility and demand accountability from those who lead us,” he said.
