Nigerians beg World Bank to stop loans as government defends borrowing
Nigerians flooded World Bank social media pages Thursday to demand the institution stop giving Nigeria loans, with the government defending its borrowing practices as constitutional duties. Special Adviser Daniel Bwala suggested the social media campaign might be opposition activity, noting 'it's difficult to tell if the citizens...are opposition members' during Arise TV appearance.
The government argues it must execute constitutional provisions allowing borrowing, despite public pressure. 'Leadership is not guided by certain things that do not have the backing of law,' stated Bwala, citing World Bank, IMF, and experts who say Nigeria's current borrowing remains 'in order.'
This comes amid Nigeria's ongoing debt concerns and just months before elections. The administration continues borrowing despite growing public skepticism about debt sustainability, with international institutions supporting the approach. As the country navigates ₦86 trillion debt load, will you support continued borrowing for infrastructure development or push for fiscal austerity to reduce national debt?