APM warns World Bank: No clear plan for Tinubu’s $1.5bn loan

The Allied Peoples Movement (APM) accused President Bola Tinubu’s administration of having no clear strategy to repay Nigeria’s growing debt, urging the World Bank and other international lenders to halt new loans. In a statement by its National Publicity Secretary Abubakar Yusuf on September 29, 2026, APM warned that a proposed $1.5 billion World Bank credit—split into three $500‑million facilities for climate resilience, social protection and early childhood development—would deepen Nigerians’ burden. The party noted that despite higher government revenue after petrol subsidy removal, the naira has weakened, purchasing power has fallen and businesses face difficulties. Since taking office in 2023, Nigerians continue to experience rising costs of food, electricity, transport, healthcare and food insecurity, while the government keeps borrowing without a repayment plan. APM called on the World Bank, IMF, China and the United States to withhold further credit and demanded greater transparency, fiscal discipline and investment in productive sectors instead of relying on debt.

Will Nigerians accept more loans without a clear repayment plan, or push for fiscal accountability?

SOURCE: https://dailypost.ng/2026/09/29/tinubu-has-no-clear-plan-to-repay-nigerias-growing-debt-apm/