Makinde Campaign Demands Inquiry into Tinubu's Oil Loan Deal

The Makinde-Daura Presidential Campaign Organisation (MDPCO) has demanded an open inquiry into President Bola Ahmed Tinubu's administration for reportedly committing approximately 340 million barrels of Nigeria's future crude oil production to foreign loans amounting to about ₦11.2 trillion. This demand follows revelations of opaque financing arrangements under Project Gazelle, Project Gazelle II, Project Leopard, and Project Leopard II, with repayment obligations extending to 2034.

The MDPCO criticized the administration for allegedly sacrificing Nigeria's future to finance current failures, urging President Tinubu to provide details on the loan arrangements, including lender identities, loan amounts, interest rates, and repayment schedules. The organization expressed concerns that such commitments could burden future generations and limit Nigeria's ability to benefit from international oil price increases.

They also highlighted the worsening conditions for Nigerians amid ongoing government borrowing without corresponding economic improvements.