Government Don Take Over Money, Private Sector Dey Suffer

This one no be small matter o! Government don begin borrow like say tomorrow no dey, and na so e dey affect our private sector well-well.

According to wetin dem talk for Central Bank of Nigeria (CBN) report, na for 2025 wey dem see government borrowing rise wahala. Na who no go fit see say government don collect N9.19 trillion pass private sector? That one na 695.6 percent growth. E mean say government dey roll in cash, while private sector dey run from debt like say na hot pepper dem chop.

As government dey shine for borrowing, private sector dey face wahala with banks. Businesses dey struggle because na only government banks sabi make dem money. So, many businesses dey go slow on borrowing; dem wan just pay wetin dem owe instead of adding more debt.

For those wey no sabi wetin dey happen, make I break am down: government dey use money wey them borrow to finance their projects. This na why dem dey issue bonds and treasury bills, wey banks dey chop like pounded yam and soup. But as dem dey enjoy the sweet life for government side, private sector dey suffer. E no dey sweet at all.

Ajayi, wey be Director-General for Manufacturers Association of Nigeria, come talk say dis no good news for anyone wey dey run business. Banks prefer lend money to government because dey feel say no risk dey there at all. Make we no forget say dem fit borrow anywhere – but private sector dey collect high interest sef. How person go survive for this kind economy?

Even economist Muda Yusuf don join the gist, e talk say government borrowing don dey crowd out private sector. This one mean say if government dey collect all the money, wetin remain for private companies wey dey carry this country for shoulder?

Na everyone sabi say if credit dey scarce like this, economy go dey slow down. Gas no dey, people no dey buy, jobs no dey happen. Wetin remain na just make government borrow and debt dey pile up. No be so naija suppose dey run!

E get some moves wey experts don propose, like make government borrow less and create better environment for private businesses, so that economy fit pick up again. If dem fit do am, then we go see growth, create jobs, and all of us go dey chop life well.

So, wetin we go take make this economy dey balance again? We dey hope say policy makers go reset their mind, because if this trend continue, na when all the private businesses don pack up, dem go remember say dem need to support them. That one go too late. Make we watch as e dey unfold o!