The Federal Government is going back to the World Bank. Again. This time, they want $1.25 billion — about ₦1.7 trillion. 💸
The loan is called “Nigeria Actions for Investment and Jobs Acceleration.” Fancy name. Same story. More borrowing. 📉
If approved on June 26, 2026, Nigeria’s total public debt could jump past ₦160 trillion. Yes. Trillion with a T. 💀
The government says the money is for expanding access to finance, digital services, electricity, and strengthening tax, trade, and agriculture reforms.
But Nigerians are not buying it. Not with elections around the corner.
The World Bank itself is worried. They said political and governance risks are “elevated ahead of the 2027 elections.” Translation: They fear the money might not be used wisely. 😬
The internet has exploded. One person wrote: “Borrow, borrow, borrow. No serious production, no exports, only consumption. This is economic suicide.”
Another said: “Nigeria government is just moving like someone that collected LAPO with the intentions of spending the money on a burial ceremony.” 💀
Someone else added: “Why World Bank dey give them money when they know the government is not using it for what they asked for?”
And another simply said: “Make una kuku sell this country jare.”
The Accountant-General of the Federation even warned that Nigeria may reject World Bank loans if approvals take too long. But here they are, asking for another one.
Now the question is burning: Where is all the borrowed money going? And who will pay it back?
What do you think is this loan necessary or just more debt? Drop your take below. 👇
