Kogi Community Demands Debt Pause, Borrowers’ Forum, AI Levy as Freedom from Debt Campaign Berths in Lokoja

From Dooshima Terkura, Makurdi

Residents of Sarkin Noma community in Lokoja, Kogi State, have called for sweeping reforms of the global financial system, including an immediate pause on debt repayments during emergencies, the establishment of a Borrowers’ Forum, and the introduction of a 1 per cent Artificial Intelligence (AI) Solidarity Levy to support debt relief for developing countries.

The demands were made on Tuesday during the Freedom from Debt Campaign organized by the AIDS Healthcare Foundation (AHF) Nigeria in Lokoja.
Speaking during the campaign, community leaders and residents expressed concern that Africa’s growing sovereign debt burden continues to divert resources away from essential sectors such as healthcare, education, water supply and other critical public services.
The stakeholders urged international creditors to automatically suspend debt repayments for developing countries affected by pandemics, climate-related disasters and other emergencies. They also called for lower interest rates on loans to enable governments invest more in infrastructure and social services.
A community leader, Mr. Nasiru Illiyasu, urged governments to implement the proposed Borrowers’ Forum, an initiative discussed at the Seville Financing for Development Summit and the G20 South Africa meeting, to strengthen the collective bargaining power of borrowing nations.
Youth leader, Idris Yahaya, advocated mandatory pauses on debt servicing during health and climate emergencies, while the women leader, Asimau Abdulmalik, proposed the introduction of a 1 per cent AI Solidarity Levy on AI-related capital and profits to generate funds for debt relief and social protection programmes.
The Hakimi of Sarkin Noma, Mallam Bala Musa, commended AHF Nigeria for bringing the campaign to the community, expressing optimism that the initiative would contribute to improving the living conditions of rural communities across Africa.
Similarly, Ambassador Idris Muraina described the campaign as a timely intervention, urging global financial institutions, particularly the World Bank and the International Monetary Fund (IMF), to ease the debt burden on developing countries so that more resources could be channeled into education, healthcare, welfare and economic development.
Also speaking, Vice Chairman of the Nigeria Union of Journalists (NUJ), Kogi State Council, Mr. Ibrahim Obansa, praised AHF for raising awareness on the debt crisis and pledged the media’s support in amplifying the campaign’s objectives.
While calling on international lenders to adopt fairer debt policies, the speakers also challenged African leaders to ensure transparency, accountability and prudent management of public resources, especially where debt relief or financial support is secured.
Earlier, Senior Advocacy and Marketing Manager of AHF Nigeria, Steve Aborisade, presented a policy brief titled “The Crushing Reality of Sovereign Debt,” describing the current global financial system as one that is “failing by design.”
According to him, low- and middle-income countries currently pay between two and four times higher interest rates than the United States and up to twelve times more than Germany, while about 3.4 billion people live in countries that spend more on debt servicing than on healthcare or education.
Aborisade said AHF Nigeria and its partners were advocating equitable debt repayment terms and a fairer global financial system that would allow developing countries to prioritize the wellbeing of their citizens.
He maintained that no country should be forced to choose between protecting its people and servicing an unfair debt system, urging world leaders to address the sovereign debt crisis with greater urgency.