Nigerians have continued to react to the new loan proposed by President Bola Ahmed Tinubu.
A prominent Nigerian think tank added its voice to the debate, urging the Federal Government to abandon its pursuit of new international loans and instead focus on harnessing the nation’s vast environmental assets to generate sustainable revenue.
The appeal comes amidst growing concern following news of proposed new borrowings totaling $21.5 billion, €2.1 billion, and ¥15 billion.
This development closely follows Nigeria’s recent repayment of its IMF loan, a move that was widely praised as a sign of economic responsibility.
Godwin Aigboviose Omage, CEO of Eki Co-Net and Chairman of GAF Africa, offered his organizations’ expertise to guide the government in accessing “green revenue” through certified carbon projects and sustainability-linked investments.
Omage wondered if the IMF repayment was merely a strategy to qualify for more debt, warning that such a cycle could “mortgage Nigeria’s future”.
Omage highlights the lucrative global green economy, valued at over $14 trillion and expanding, as a viable alternative to debt.
He cited countries like Gabon, Kenya, and smaller Pacific Islands that are already leveraging on carbon credit monetization, renewable energy deployment, sustainable agriculture, waste-to-wealth innovation, and eco-conservation and tourism to generate revenue.
Omage argued that the nation is “leaving billions of dollars unclaimed” due to a “lack of understanding at the top” regarding how carbon credit markets function.
To address this, Eki Co-Net and GAF Africa are co-hosting the S.O.F.T (Sustainability, Opportunity, Future, and Technology) Conference in Dubai on July 29–30, 2025. The event is billed as a “green economy deal room” aimed at connecting government leaders, investors, and innovators to facilitate investment deals in renewable energy, climate technology, and carbon monetization.
Omage insists that Nigeria has a crucial role to play in this global shift, stating, “Nigeria doesn’t need more loans. We need leadership that sees beyond them”. He concludes with a strong message to the Federal Government: “Let’s move from debt to development. From borrowing to building. From survival to sustainability”.
