Auwal Rafsanjani, who leads the Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International Nigeria, has asked for the cancellation of certain debts that he believes are harmful and not fair.
He made this demand during the Financing for Development Conference in Spain, which took place from June 30 to July 3, 2025.
At the event, Rafsanjani pushed for major changes in the way global financial systems work. He also called for lawmakers to play a stronger role in handling national finances and making sure public money is spent responsibly.
He stressed the importance of African lawmakers being fully involved in deciding how money is borrowed and spent for development. He said lawmakers must not be pushed aside because they are the ones with the legal power to approve budgets and loans and check how funds are being used.
“These debts are not fair,” Rafsanjani said. “They slow down development, put pressure on future generations, and reduce our national independence.”
It’s worth noting that Nigeria’s debt has grown a lot. As of March 31, 2025, the total debt had reached N144.39 trillion, which has made many people worry about the country’s financial future.
