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 $1.5bn loan to Nigeria's President Bola Tinubu-led administration. This call comes amid concerns over the nation's increasing debt and the proposed credit facility. The APM argues that further borrowing could exacerbate economic hardship for Nigerians and weaken the country's productive sector.

By June 2026, Nigeria's public debt had reached a record N166.79tn. The World Bank is reportedly in negotiations with Nigeria to secure three loans worth $1.5bn, consisting of $500m each for climate resilience, social protection, and early childhood development. APM asserts that the Tinubu administration has accumulated over N166.7tn in debt despite revenue from the removal of the petrol subsidy.

The party calls on international financial institutions, including the World Bank, the International Monetary Fund, and China, to refrain from providing additional credit to the Tinubu administration, stating that such lending is not in Nigeria's best interest.