Legislative Consultant and Public Policy Analyst, Chibuzo Okereke, has raised fresh concerns over Nigeria’s growing debt burden, warning that the country’s borrowing pattern has left future generations exposed to repaying loans they had no part in contracting.
Okereke made this submission on Friday, May 15, 2026, while speaking on Arise News. The analyst acknowledged the recent wave of citizen protests on the World Bank’s social media platforms as a legitimate expression of democratic participation, describing it as evidence that Nigerians are growing increasingly frustrated with the government’s borrowing trajectory and its lack of transparent accountability.
Okereke, who identified himself as a former desk officer for the World Bank Parliamentary Network on Infrastructure and Accountability, noted that the multilateral lender had itself begun taking steps toward greater accountability to host populations. He argued, however, that the Nigerian government must match institutional access to credit with a corresponding obligation to demonstrate concrete, traceable outcomes for every loan obtained.
He further stressed that public trust was eroding rapidly, and that the government’s attitude toward accountability remained dangerously detached from the concerns of ordinary citizens.
“Remember most of these loans take 30 years. Some loans taken in 2010 will be maturing in 2030.”
Okereke called on the Nigerian government to treat accountability not as a procedural formality, but as a fundamental obligation to its people….See More
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