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Nigerians Petition World Bank to Reject Tinubu’s $1.25Bn Loan

Editorial Team05 mins
Nigerians Petition World Bank to Reject Tinubu’s $1.25Bn Loan

By Frank Ulom

Nigerians petition World Bank to reject President Bola Tinubu’s $1.25 billion loan.

Public backlash has surged against a proposed $1.25 billion World Bank loan to Nigeria’s government, called Nigeria Actions for Investment and Jobs Acceleration, now at a ‘decision meeting’ stage with board approval set for June 26, 2026.

The funds would supposedly target finance access, digital services, electricity, and reforms in tax, trade, and agriculture to create jobs, but critics highlight Nigeria’s public debt nearing N160 trillion and external debt at $52 billion, with 2026 servicing costs projected at $11.6 billion, almost half of federal revenue.

Finance Minister Taiwo Oyedele recently stressed ending reliance on borrowing, while the government defends the loans as essential for reforms amid revenue gaps; citizens demand transparency and accountability ahead of the decision.

It was reported that Tinubu’s Government has borrowed N13.21 trillion from the World Bank in over 20 months.

Nigerians Petition World Bank

On Wednesday, Nigerians via Change.Org, petition the World Bank to stop giving this administration and the country loans.

The petition, which has now been signed by over 500 people at the time of this report, was started by Nefertiti First Lady, and it reads:

“Nigeria’s rising debt profile is no longer sustainable, and the need to address this issue has reached an urgent level. The country faces a dire economic crisis, and the alarming reality is that Nigeria will spend about $11.6 billion servicing its debt by 2026, which accounts for nearly half of its projected revenue. In the year 2025 alone, Nigeria spent $5.15 billion solely on debt servicing.

“This financial distress comes at a great cost to essential services such as infrastructure, healthcare, and education, all of which have suffered significant setbacks due to scarce funding. As a result, the government continues to indulge in lavish spending while the majority of citizens endure rising inflation and a crippling cost of living, marking the highest inflation rates since 1960. Electricity supply remains epileptic, and the number of out-of-school children has surged to over 20 million.

“Moreover, the loans approved by the World Bank, including a staggering total of $9.35 billion in loans and credits from June 2023 to May 2026 for the BAT administration, exacerbate the situation, providing funds often misused for political agenda such as vote buying rather than national development.

“It is critical to compel the World Bank to refrain from granting fresh loans to Nigeria. Continued financial support without accountability and effective channels for development exacerbates the economic instability and compounds Nigeria’s debt burden. By advocating for a halt to new loans, we are calling on the World Bank to demand fiscal responsibility and the implementation of policies that truly address Nigeria’s development needs instead of funding governmental excesses.

“We urgently need your support to make this change a reality. Your voice and signature can help persuade The World Bank to reconsider their loan approvals to Nigeria until there is a demonstrable change towards sustainable financial management. Join us in advocating for a future where funds are utilized correctly, infrastructures are rebuilt, educational systems are revived, and economic stability is achieved.

“Please add your voice and sign this petition to compel the World Bank to stop granting further loans to Nigeria until rigorous measures are in place to ensure accountability and sustainable development. Together, we can make a difference.”

It was titled “Compel The World Bank to stop giving Nigeria loans.”

Nigerians also took to social media to call out the financial organisation to stop giving the country loans.

Converseer reports that the citizens flooded various social pages and commented on the World Bank to make their demands known. See below:

“STOP GIVING NIGERIA FRESH LOANS!
STOP GIVING NIGERIA FRESH LOANS!
STOP GIVING NIGERIA FRESH LOANS!
STOP GIVING NIGERIA FRESH LOANS!
STOP GIVING NIGERIA FRESH LOANS!

You already approved a whopping total of $9.35 billion in loans & credits between June 2023 & May 2026 for the BAT administration

Enough is enough! Add your voice & repost this until The World Bank does the needful.

Compel The World Bank to stop giving Nigeria loans – Sign the Petition! c.org/Rt7XRQwqd2 via @Change.” – @firstladyship

PLEASE STOP GIVING TINUBU LOANS – @trigottista

“Men with barely 10 more yrs to Live are Borrowing Billions of $ with 40-50 yr Repayment Plans. This Old Men Steal the Loans & Spend it on BS. But the Masses Who will Use the rest of their Lives repaying the Loans LONG after this Men are Dead are Supporting them to Continue.” @n6oflife6

“Please help Nigerians and stop granting this man a loan we all beg you pls…” @stevecute01

“@WorldBankGroup if you keep giving loans to tinubu’s government you are on your own because our generation will never pay for loans that were not used for the benefit of the people” – @musty_1253

STOP GIVING OUT LOANS TO THE NIGERIAN GOVERNMENT.

“They haven’t done anything with it. You incompetent thıeves.” – @InternetPadi

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