Popular Nigerian businessman and social commentator Isaac Fayose has raised concerns over the condition and management of some government-funded infrastructure projects, alleging that Nigerians are still repaying loans for projects that have not delivered long-term benefits.
In a viral video shared across social media platforms, Fayose questioned the effectiveness of the railway project financed through a Chinese loan during the administration of late former President Muhammadu Buhari.
He claimed that despite the substantial funds borrowed for the project, Nigerians are still servicing the debt while the railway infrastructure has reportedly deteriorated over time.
Fayose also pointed to Nigeria’s refineries, alleging that huge sums were borrowed for their rehabilitation, yet they remain non-operational even as loan repayments continue.
“Late President Buhari borrowed money from China for the railway line from Nigeria to Niger about eight or nine years ago. We are still paying for the loan, but the rail tracks are gone now.
“Same thing we did with our refineries. We borrowed a lot of money that Nigerians are still paying up till today, but our refineries are still down. This is what happens when we elect incompetent people because Rotimi Amaechi was in charge of railways back then. We have faults, and our government also has faults,” he said.
His comments have since sparked renewed public debate on government borrowing, infrastructure delivery, and accountability in Nigeria.