APM urges World Bank to withhold $1.5bn loan to Nigeria
The Allied Peoples Movement has called on the World Bank to withhold a fresh $1.5bn loan to the Tinubu administration, citing Nigeria’s rising debt profile Read More: https://punchng.com/apm-urges-world-bank-to-withhold-1-5bn-loan-to-nigeria/
The Allied Peoples Movement (APM) has urged the World Bank and other international lenders to withhold a proposed $1.5bn credit facility from the Tinubu-led Nigerian government. APM spokesperson Abubakar Yusuf highlighted Nigeria's growing debt profile, which stands at over N166.7tn, and the administration's continued borrowing despite revenue gains from the removal of the petrol subsidy.
The proposed loans, which would cover climate resilience, social protection, and early childhood development, are expected to be discussed at the World Bank board meeting on October 29, 2026. APM contends that further borrowing could exacerbate the economic hardships faced by Nigerians and weaken the country's productive sector.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- APM urges World Bank to withhold $1.5bn loan to Nigeria punchng.com
- $1.5bn Loan: APM asks World Bank to reject Tinubu’s request dailytrust.com
- Don’t lend Tinubu fresh loans, you’re mortgaging Nigeria’s future – APM warns World Bank dailypost.ng
- APM urges World Bank to halt new $1.5bn loans to Nigeria premiumtimesng.com
