Politics
SERAP Urges Govs, Wike To Show Details Of Chinese Loans
The Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Abuja, Nyesom Wike to make public details of Chinese loans, liabilities, and other external borrowing obtained.
The demand, according to letters to the parties, covers loans by the sub-nationals, guaranteed by the Federal Government and the SERAP also wants to know the terms and conditions for any such borrowing including the provisions on collateral, according to a statement.
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The SERAP urged them to “provide details of the repayment obligations regarding any Chinese loans, liabilities and other external borrowing obtained and guaranteed by the Federal Government, the interest rates on the loans, and any defaults, debt restructurings, and debt exposure to China and other creditors.”
In addition, the SERAP also urged them to “clarify any investment agreements with Chinese companies and repayment histories of any loans, liabilities and facilities obtained from China and other external creditors and guaranteed by the Federal Government.”
In the letters, signed by its deputy director Kolawole Oluwadare, the SERAP wrote, “We are concerned that your state and the FCT may have failed to efficiently manage your debt obligations, especially your external debt and investment obligations, as guaranteed by the Federal Government.
“The failure to uphold your obligations is contrary to Section 6 of the Debt Management Office Establishment (Etc), Act, and creates financial risks and other exposure to Nigeria with respect to these Chinese loans, liabilities and other external borrowing.
“These Chinese loans, liabilities and other external borrowing by your state and the FCT may not have been used for the purposes for which they have been obtained and terms and conditions guaranteed by the Federal Government.”
The SERAP declared that, the “SERAP is concerned that there is a significant risk of defaults of the Chinese loans, liabilities, and other external borrowing by your state and the FCT, which are guaranteed by the Federal Government.
“There are also significant risks of confiscation of Nigerian assets in foreign jurisdictions by multilateral and bilateral agencies and other creditors in cases of failure by your state and the FCT to satisfactorily observe and fulfil the terms and conditions of the Chinese loans, liabilities and other external borrowing which are guaranteed by the Federal Government.
“The apparent inadequacy of safeguards and accountability mechanisms for these Chinese loans, liabilities and other external borrowing may also expose Nigeria’s assets in foreign jurisdictions to confiscation.
“Your state and the FCT have a shared obligation to ensure that the spending and repayment plans of Chinese loans, liabilities, facilities and other external borrowing are consistent with the provisions of national and international standards, and to prevent or mitigate risks of confiscation of Nigerian assets abroad.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government and the FCT to comply with our request in the public interest.
“Despite several external loans, liabilities, investment obligations and external borrowing obtained by your state and the FCT, which are guaranteed by the Federal Government over many years, millions of Nigerians in your state and the FCT continue to lack access to regular electricity supply and have been denied the benefit of renewable energy solutions.
“A recent report by the National Bureau of Statistics (NBS) revealed that over 133 million Nigerians are living in different categories of poverty, the majority of them women and children.
“SERAP is seriously concerned that many of the country’s 36 states and FCT are allegedly mismanaging public funds which may include Chinese loans, liabilities and other external borrowing obtained from bilateral and multilateral institutions and agencies and guaranteed by the Federal Government.
“We urge you to disclose the spending details of these Chinese loans, investment obligations and external borrowing, including details of and locations of projects as well as the implementation status and completion reports, if any, on the projects.
“According to Nigeria’s Debt Management Office, the total external debt for Ogun State is N168,833,006.66 as at December 31, 2023. The total public debt portfolio for the country’s 36 states and the Federal Capital Territory is N9.17 trillion.
“Nigeria’s total public debt stock, including external and domestic debts, increased by ₦24.33 trillion in three months alone, from ₦97.34 trillion ($108.23 billion) in December 2023 to ₦121.67 trillion ($91.46 billion) as of March 31, 2024. The debt represents external and domestic loans obtained by the Federal Government, the 36 state governments and the FCT.
“SERAP notes that the World Bank has approved several loans and other funding facilities to the country’s 36 states including the recent $750 million credit line meant to the states to carry out reforms to attract investment and create jobs.
“The World Bank on 15 December 2020 approved a $1.5 billion loan for Nigeria’s 36 states and the FCT for social protection and strengthened state-level COVID-19 response. The loan aims to help the states build a resilient recovery post-COVID19 and to reduce poverty.
“SERAP is concerned that the Chinese loans and other external borrowing obtained by your state and guaranteed by the Federal Government are vulnerable to corruption and mismanagement.
“Publishing details of the Chinese loans, liabilities, investment obligations and other external borrowing obtained by your state and the FCT which are guaranteed by the Federal Government would allow Nigerians to scrutinise them.
“Section 39(1) of the Nigerian Constitution 1999 [as amended], section 44 of the Fiscal Responsibility Act and article 9 of the African Charter on Human and Peoples’ Rights to which Nigeria is a state party impose legal obligations on your state and the FCT to disclose the details sought.
“Section 41 of the Fiscal Responsibility Act provides: ‘1) The framework for debt management during the financial year shall be based on the following rules: a. Government at all tiers shall only borrow for capital expenditure and human development, provided that, such borrowing shall be on concessional terms with low interest rate and with a reasonable long amortization period subject.’
“Section 44 of the Fiscal Responsibility Act provides: ‘1) Any Government in the Federation or its agencies and corporations desirous of borrowing shall, specify the purpose for which the borrowing is intended and present a cost-benefit analysis, detailing the economic and social benefits of the purpose to which the intended borrowing is to be applied.’
“According to section 21(1)(2) of the Debt Management Office Establishment (Etc), Act, ‘No external loan shall be approved or obtained by the Minister unless its terms and conditions shall have been laid before the National Assembly and approved by, its resolution. (2) The Federal and State Government or any of their agencies shall not obtain any external loan except with a guarantee issued by the Minister.’”
A Federal High Court sitting in Abuja has affirmed the leadership of former Senate President David Mark as the National Chairman of the African Democratic Congress (ADC), dismissing a suit filed by House of Representatives member Leke Abejide challenging the party’s leadership.
Delivering judgment on Thursday, Justice Musa Liman held that Abejide’s suit lacked merit and upheld the preliminary objections filed by the ADC, its former National Chairman Ralph Nwosu, David Mark, former Osun State Governor Rauf Aregbesola, and the Independent National Electoral Commission (INEC).
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The judge ruled that the court lacked the jurisdiction to interfere in the internal affairs of the ADC, describing the matter as non-justiciable. He further held that Abejide failed to establish that any of his legal rights had been violated by the emergence of the Mark-led leadership.
Justice Liman also ruled that the lawmaker failed to exhaust the party’s internal dispute resolution mechanism before approaching the court, a factor that further weakened his case.
The court resolved all three issues raised in the substantive suit in favour of the defendants.
On the question of whether David Mark and Aregbesola emerged as the party’s leaders in accordance with the law, Justice Liman held that the transfer of leadership from former National Chairman Ralph Nwosu to Mark did not violate any provision of the ADC constitution.
The court further agreed that the July 2, 2025 meeting, where the leadership transition began, was a stakeholders’ meeting that preceded the National Executive Council (NEC) meeting held on July 29, 2025.
According to the judgment, the NEC meeting, which was monitored by INEC, validly produced David Mark as National Chairman and Rauf Aregbesola as National Secretary of the party.
Justice Liman consequently declared that the emergence of Mark and Aregbesola complied with the ADC constitution, the Electoral Act 2026 and all relevant party regulations.
The court also imposed financial penalties on the plaintiff and his counsel.
Abejide was ordered to pay ₦2 million each to all the defendants, while his lawyer was fined ₦10 million in line with the provisions of the Electoral Act 2026.
The suit, marked FHC/ABJ/CS/1637/2025, was filed on February 15 by Abejide against the ADC, Ralph Nwosu, David Mark, Rauf Aregbesola and INEC as the first to fifth defendants respectively.
In the originating summons, Abejide sought eight reliefs before the court, including an order nullifying Nwosu’s handover of the party’s leadership to David Mark and Aregbesola during the July 2, 2025 stakeholders’ meeting held at the Shehu Musa Yar’Adua Centre, Abuja.
He argued that the handover was illegal, unlawful, null and void and urged the court to restrain Mark and Aregbesola from parading themselves as the party’s National Chairman and National Secretary.
The lawmaker also sought a perpetual injunction restraining INEC from recognising the duo as leaders of the ADC, maintaining that their emergence did not comply with the requirements of Section 82 of the Electoral Act and other relevant provisions.
However, the court rejected all the reliefs sought by the plaintiff, affirming that the leadership transition was valid and carried out in accordance with the law.
The judgment marks a significant legal victory for the David Mark-led leadership of the ADC, effectively ending the legal challenge against the party’s current leadership and strengthening its position ahead of political realignments and preparations for the 2027 general elections.
Former Vice President and African Democratic Congress (ADC) presidential candidate for the 2027 general election, Atiku Abubakar, has appointed actor-turned-politician and party chieftain, Kenneth Okonkwo, as his official campaign spokesperson.
Okonkwo announced the appointment in a statement shared on his official X (formerly Twitter) account on Thursday, expressing gratitude to Atiku for entrusting him with the responsibility.
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“I give God all the glory for being appointed by His Excellency Atiku Abubakar as his spokesperson. I thank His Excellency for the immense confidence reposed in me,” he said.
The former Labour Party presidential campaign spokesperson described the appointment as a testament to Atiku’s leadership style, noting that the former vice president embraces dialogue, inclusiveness and compromise rather than taking offence when associates express differing opinions.
According to Okonkwo, discussions with Atiku and other leaders of the ADC addressed concerns surrounding the political interests of the South-East within the framework of the Electoral Act, 2026, and the current political realities.
He said the engagement reassured stakeholders that the interests of the South-East had been recognised and safeguarded despite the prevailing challenges.
Okonkwo also appreciated Dr. Kashim Imam, former ADC National Chairman Ralphs Nwosu, and Atiku’s Senior Special Assistant on Special Duties, Dr. Ekene Onwuka, for their efforts in strengthening the party ahead of the 2027 general election.
He further thanked his family, supporters and friends for their prayers and encouragement, while seeking continued support as he assumes the new role.
“I still covet your prayers for wisdom, courage, provision and protection needed to carry out this challenging responsibility, which will usher in a glorious and great Nigeria,” he added.
The appointment comes weeks after Okonkwo publicly criticised reports that the ADC was considering a South-South vice-presidential candidate, arguing that such a decision would further marginalise the South-East, which has not produced either the President or Vice President since 1999.
Despite the concerns, the ADC later named former Rivers State Governor and former Minister of Transportation, Rotimi Amaechi, as Atiku Abubakar’s running mate after the former vice president secured the party’s presidential ticket.
The Chairman of the Labour Party (LP) in Abia State, Peter Azubuike, has expressed confidence that the party will record a landslide victory in the 2027 general elections, declaring that it would emerge victorious “before 2 p.m.” if the Independent National Electoral Commission (INEC) were to conduct an election today.
Azubuike made the assertion on Monday while addressing journalists at the party’s state secretariat in Umuahia, the Abia State capital.
According to him, the Labour Party has overcome its internal challenges and is now fully united and mobilised ahead of the next general elections.
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He maintained that the party remains the strongest political force at the grassroots in Abia, pointing to its current political representation across the state as evidence of its popularity.
“If INEC conducts an election today, we will win before 2 p.m. because we are the only political party with a strong grassroots presence. We have 184 councillors, 17 local government chairmen, and 20 members of the Abia State House of Assembly. That is evidence of our widespread acceptance and grassroots support,” Azubuike said.
The LP chairman also defended the party’s adoption of the direct primary system for selecting candidates ahead of the 2027 elections, describing it as a transparent process that promotes fairness and reduces internal disputes.
He dismissed reports suggesting that only one nomination form was sold in some constituencies, insisting that several aspirants contested for party tickets in different areas.
“It is not true that only one form was sold. In several constituencies, multiple aspirants purchased forms. In fact, not all sitting lawmakers secured the ticket. A clear example is the Osisioma/Obingwa/Ugwunagbo Federal Constituency, where the incumbent did not get the return ticket,” he stated.
Azubuike said the party had continued to strengthen its structures from the ward level to the state level and remained optimistic of another overwhelming victory in 2027.
He further stated that the faction of the Labour Party led by Senator Nenadi Usman is the one recognised by INEC, adding that the leadership had already been granted access to the electoral body’s portal for uploading candidates.
The party, he added, remains committed to internal democracy, grassroots mobilisation and effective leadership as preparations intensify for the 2027 general elections.
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