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Oil Theft: Nigeria might be sliding into bankruptcy, says Adeboye

Pastor Enoch Adejare Adeboye, General Overseer of RCCG

*Pastor Enoch Adejare Adeboye, General Overseer (GO) of the Redeemed Christian Church of God, raises concerns over the West African country’s economic future, warning that Nigeria’s debt-to-service revenue ratio might pose danger for decades

Alexander Davis | ConsumerConnect

In view of the increasing spate of theft of the national oil wealth, Pastor Enoch Adejare Adeboye, General Overseer (GO) of the Redeemed Christian Church of God (RCCG), has deplored oil theft in the West African country.

Pastor Adeboye warned that Nigeria might go bankrupt if the trend is not checked.

Stolen crude at an illegal oil-refining site in Niger Delta

‘Daddy Adeboye,’ as he is fondly called, said this in a sermon to his congregation during a thanksgiving service Sunday, April 3, 2022.

“Who is stealing the oil? Where is the money going? What do they want to do with the money? Who are the foreign nations buying this stolen oil? How many of these nations of the world are your friends?” he asked.

The General Overseer of RCCG also raised concerns over the country’s economic future, warning that Nigeria’s debt to service revenue ratio might pose danger for decades, reports Channels TV.

Over 90 percent of Nigeria’s revenue from crude oil sales is used to furnish interest accruing on debt, stated he.

Adeboye further said: “We are borrowing more and according to a friend of mine, we are moving steadily towards a state of bankruptcy, a whole nation….

“That is why we are going to pray so that our children and children’s children do not keep paying debt. We are still borrowing. ”

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