Former Governor of Ekiti State Ayo Fayose has said that Governor Seyi Makinde of Oyo State will face the same kind of treatment he meted to those who supported his political ambition.

Speaking at a gathering, Fayose stated that those who betray alliances should never be surprised when they become victims of the same treatment.

He said, “We warned Seyi Makinde long ago, but arrogance would not allow him to listen. Politics is built on loyalty, trust and mutual respect, not on the habit of using people and discarding them when they are no longer convenient.

“As he did to many who stood by him and helped build his political structure, so others will eventually do to him. What goes around truly comes around in politics.

“Those who betray alliances should never be surprised when they become victims of the same treatment. The seeds sown yesterday are the harvest of today.

“We warned him, but he chose a different path. Now, events are unfolding exactly as predicted.”

This is not the first time Fayose has tackled Makinde publicly. Recently, he accused the governor of causing the kidnapping over 49 schoolchildren and their teachers in Oyo.

He had earlier exposed billions of naira received by the governor, which was meant to be given as compensation to victims of an explosion in Ibadan.

President Bola Tinubu’s administration has secured $11.40 billion in loan approvals from the World Bank between June 2023 and June 2026. This represents about 78.2% of the $14.59 billion approved during former President Muhammadu Buhari’s eight-year administration.

The loans, spread across economic reforms, education, healthcare, agriculture, energy, digital infrastructure, financial inclusion, and social protection, include the $2.25bn RESET/ARMOR reform package, the $1.25bn Jobs Acceleration programme, the $500m agricultural value-chain project, and multiple power-sector facilities.

However, only $2.32bn (20.3%) has been disbursed so far. Finance Minister Taiwo Oyedele defended the borrowing, stating that “the relevant question is never simply how much debt, it is always debt for what and at what cost, against what return.”

Key Points:

Nigeria’s reliance on foreign borrowing continues at an accelerated pace under Tinubu
The $11.4bn secured in three years is $5.8bn more than Buhari’s first term total
Most loans are tied to infrastructure, energy, and social protection projects
Only 20% of approved funds have been disbursed, raising implementation concerns
Economists warn that debt sustainability depe

The World Bank loans are expected to fund critical infrastructure and social programmes. Nigerians will watch for effective implementation and visible project outcomes.

Sources: Punch, Debt Management Office