Kogi Residents Demand Suspension of Debt Repayments

On Tuesday, Kogi residents and stakeholders in the Sarkin Noma community, Lokoja local government area, urged international creditors to suspend debt repayments for developing nations during the Freedom from Debt campaign led by AIDS Healthcare Foundation (AHF Nigeria). Community leaders emphasized the need for urgent reform of the global financial system, arguing that Africa’s sovereign debt burden deprives citizens of essential services like health and education.

They called for automatic pauses on debt service during pandemics and natural disasters and proposed a 1% AI Solidarity Levy on AI-related profits to fund debt relief. Mallam Bala Musa, the Hakimi of Sarkin Noma, praised AHF for the initiative, expressing hope that it would improve rural communities' lives.

Idris Muraina, Executive Director of Renaissance Care and Empowerment, described the initiative as timely, advocating for the World Bank and IMF to ease loan repayment burdens. Steve Aborisade of AHF presented a Policy Brief highlighting that low- and middle-income countries pay significantly higher interest rates than developed nations.