Public commentator Isaac Fayose has sparked heated debate after strongly criticizing Nigeria’s continued repayment of loans linked to major infrastructure projects signed during the administration of former President Muhammadu Buhari.
In a blunt statement, Fayose alleged that Nigerians are still servicing debts owed to China for railway and refinery-related projects that, according to him, have either underperformed or failed to deliver expected economic value.
He argued that the country’s debt burden is being worsened by long-term loan agreements tied to ambitious infrastructure plans that have not yielded proportional returns, placing pressure on public finances and future generations.
The comments have reignited discussions about Nigeria’s borrowing strategy, particularly large-scale agreements with Chinese financial institutions for transport and energy infrastructure development.
Critics of such arrangements say the country must reassess its debt-driven development model, while supporters argue that infrastructure investments are necessary for long-term growth despite short-term fiscal strain.
Fayose’s remarks have since gained traction online, fueling renewed public scrutiny of how past and present governments manage foreign loans and national assets.
