It is clear that China has seen the hand writing on the wall and decided that Nigeria must clear off the debts she owes them for fear of the rising agitation for break away Biafra from Nigeria which could result in bad debt owing to the fact that the northern Nigrria or whatever remains as Nigeria after the Biafra break away could not be able to clear the debt.
Therefore, Buhari decided to use the Niger Delta oil assets as collateral for the China loan, and the loan is used to build the Infrastructures in the Northern part of Nigeria.
I hope Nigerians most especially the oil producing states are aware. So if there are defaults in payment China will take over your oil rigs including refineries, China has already taken over major assets in two countries, Zambia and Sri Lanka.
Buhari and the Northern cabals came up with this idea because of the growing demand for restructuring.
so they will plunge the rich region into dept in favor of the poor regions like the North.
They have mandated every Nigerian media not to report this or else they risk total closure. Nigerians have been led into Chinese traps by their northern counterparts and president.