APM urges World Bank to halt new $1.5bn loans to Nigeria
The Allied Peoples Movement (APM) has urged the World Bank and other international lenders not to extend fresh credit to the federal government, following reports that Nigeria is seeking new financing facilities worth $…
The Allied Peoples Movement (APM) has urged the World Bank and other international lenders not to extend fresh credit to the federal government, following reports that Nigeria is seeking new financing facilities worth $…
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The Allied Peoples Movement (APM) has urged the World Bank and other international lenders not to extend fresh credit to the federal government, following reports that Nigeria is seeking new financing facilities worth $1.5 billion from the multilateral lender.
The party, in a statement on Tuesday by its National Publicity Secretary, Abubakar Yusuf, said granting additional loans to the administration of President Bola Tinubu would further increase the country’s debt burden and mortgage the future of Nigerians.
The APM’s position comes as Nigeria’s total public debt rose to ₦166.79 trillion at the end of June 2026, according to the latest figures from the Debt Management Office (DMO).
The figure represents an increase from ₦159.35 trillion recorded at the end of March. Three proposed World Bank facilities The federal government is currently in discussions with the World Bank on three proposed financing facilities totalling $1.5 billion.
Documents from the World Bank indicate that the proposed financing consists of three separate $500 million facilities focusing on climate resilience, social protection and early childhood development.
The most advanced proposal is an additional $500 million in financing for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project. The World Bank is expected to consider the facility on 29 October.
FAQ
What happened?
The Allied Peoples Movement (APM) has urged the World Bank and other international lenders not to extend fresh credit to the federal government, following reports that Nigeria is seeking new financing facilities worth $1.5 billion from the multilateral lender.
What happens next?
The desk will follow official notices as they are published.
