The World Bank has restricted comments on parts of its Instagram page after facing a wave of criticism from Nigerians over plans by President ’s administration to secure a fresh $1.25 billion loan facility.
The backlash followed reports that the Nigerian government is in advanced discussions with the World Bank on a new funding package targeted at economic reforms, electricity expansion, digital infrastructure, agriculture, and job creation initiatives.
The proposed loan programme, titled “Nigeria Actions for Investment and Jobs Acceleration,” is scheduled to be presented for approval on June 26, 2026.
Many Nigerians took to the World Bank’s social media platforms to express concerns about the country’s rising debt burden and worsening economic conditions. Critics argued that citizens are already grappling with inflation, subsidy removal, naira depreciation, and increased living costs, warning against further external borrowing.
Online reactions intensified after reports emerged that the approval date would come just months before Nigeria’s presidential election scheduled for January 16, 2027, according to the revised timetable released by .
If approved, the facility would rank as the second-largest World Bank loan obtained under the Tinubu administration, behind the $1.5 billion “Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing” approved in June 2024.
At the official exchange rate of N1,361.4 per dollar, the proposed loan is estimated at about N1.7 trillion, highlighting the scale of borrowing being pursued by the Federal Government amid ongoing fiscal and economic reforms.
Following the online criticism, several users observed that comments had been limited on some posts on the World Bank’s Instagram page, with notices stating: “Comments on this post have been limited.”
The development has further fueled public debate over Nigeria’s growing debt profile and concerns surrounding the transparency, management, and long-term impact of foreign loans secured by the Federal Government.
