The Bishop of the Catholic Diocese of Yola, Most Rev. Stephen Dami Mamza, has urged President Bola Tinubu to abandon any plans by his administration to secure fresh foreign loans, warning that such borrowing would further mortgage the future of the country and deepen the prevailing economic hardship.
Speaking to journalists in Yola, Bishop Mamza expressed concern over Nigeria’s rising debt profile, which he described as suffocating.
He warned that taking on additional loans would only worsen the country’s socio-economic crisis.
“We have heard about the billions of dollars the government is planning to borrow again,” the Bishop said. “My appeal to President Tinubu is: don’t borrow money again.”
Rather than seeking more loans, he called for greater accountability and transparency in the management of public funds, particularly the vast sums recovered by anti-graft agencies such as the Economic and Financial Crimes Commission (EFCC). “Nigerians want to know the whereabouts of those recovered monies,” he said.
Bishop Mamza stressed that the government should focus on strengthening internal revenue generation and eliminating financial leakages, warning that continued dependence on external borrowing will harm the nation in the long run. He said what Nigeria needs most are transparency, effective governance, and economic prudence—not more debt.
According to him, many Nigerians are already grappling with rising inflation, worsening poverty, and widespread insecurity. He added that citizens have lost faith in the system due to poor leadership and questionable economic policies.
Reflecting on this year’s global theme for World Communication Sunday—“Sharing with Gentleness the Hope in Your Heart”—Bishop Mamza said the message could not be more relevant for a country like Nigeria, where many are struggling with despair.
“This year was declared by the late Pope Francis as the Year of Hope,” he recalled. “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 also urged the media to play a constructive role in national development by remaining objective, courageous, and committed to the truth.
“Your work as journalists is both dangerous and sensitive. We always keep you in our prayers. But beyond prayers, you must remain devoted to truthful reporting—report the facts without igniting further crisis in our communities,” he said.
Bishop Mamza also revealed that Nigerian Catholic Bishops are scheduled to meet the Pope in March 2026 during their Ad Limina visit—a periodic consultation where each bishop reports to the Holy Father on the state of the Church in their dioceses.
He noted that Nigeria is among the first four countries approved by the Pope for this significant meeting, reflecting the Vatican’s concern for Nigeria’s current challenges.
