The Socio-Economic Rights and Accountability Project (SERAP) has called on Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Nyesom Wike, to provide detailed information regarding any Chinese loans and other external borrowings obtained and guaranteed by the Federal Government.
In a statement released over the weekend, SERAP urged the governors and the FCT minister to disclose the full terms and conditions of these loans, including provisions on collateral, interest rates, repayment obligations, and any incidents of defaults or debt restructuring.
The organization emphasized the need for transparency, particularly in light of Nigeria’s growing debt exposure to China and other creditors.
SERAP also requested clarification on any investment agreements with Chinese companies and the repayment history of loans guaranteed by the Federal Government.
The organization believes that disclosing this information is crucial for ensuring accountability and…