Amanze Chinonye
The World Bank has faced a wave of criticism from Nigerians on social media following reports that the Federal Government is seeking a fresh $1.25 billion loan facility from the international financial institution, Prime Business Africa reports.
The backlash unfolded largely on the World Bank’s official Instagram page, where thousands of Nigerians posted comments urging the institution not to approve additional loans for the country amid concerns over Nigeria’s rising debt profile and worsening economic conditions.
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Many of the comments questioned the transparency and impact of previous loans obtained by Nigeria, with users expressing fears that fresh borrowing could deepen the country’s economic challenges.
Checks by Prime Business Africa on the World Bank’s official Instagram page showed that comments had been disabled on some posts following the influx of reactions from Nigerian users.
The proposed facility, titled “Nigeria Actions for Investment and Jobs Acceleration,” is scheduled for consideration on June 26, 2026.
According to reports, the loan is expected to support economic reforms, electricity expansion, digital infrastructure, agriculture and job creation initiatives in Nigeria.
A report by Punch quoted an anonymous World Bank source as denying claims that the institution deliberately restricted comments because of the backlash, describing the situation as likely a technical issue.
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Nigeria has secured several World Bank loans and credit facilities in recent years as part of efforts to support economic reforms and development programmes.
If approved, the proposed $1.25 billion facility would further increase the volume of World Bank financing approved for Nigeria under the administration of President Bola Ahmed Tinubu.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
