‘Don’t lend our President more money’ — Nigerians warn World Bank as national debt soars under Tinubu

• Nigerians reacted to reports of a fresh $1.25bn World Bank loan request.

• Many commenters accused politicians of mismanaging borrowed funds.

• Nigeria could spend $11.6bn servicing debt in 2026.

• Tinubu’s administration has secured billions in World Bank approvals since 2023.

Nigerians have taken to the Instagram page of the World Bank to express frustration over Nigeria’s rising debt profile following reports that President Bola Ahmed Tinubu’s administration is seeking a fresh $1.25 billion loan facility.

The reactions appeared under several posts on the World Bank’s official Instagram account, with many Nigerians urging the global lender to stop approving loans for the country.

The latest loan request, titled ‘Nigeria Actions for Investment and Jobs Acceleration’, is expected to be presented before the World Bank board on June 26, 2026. 

Reacting to the development, several Nigerians accused political leaders of mismanaging public funds while ordinary citizens continue to struggle with rising living costs.

One user wrote, “World bank abeg stop borrowing us Nigerians money again our greedy politicians are using it to enrich themselves at our detriment.”

Another commenter said, “Don’t borrow Tinubu money again they want to finish Nigerians ooh.”

Others wrote:

“Ahhh... you're borrowing Tinubu money not Nigerians.”

“Please don't borrow @officialasiwajubat any money again.”

“STOP BORROWING THE PRESIDENT OF NIGERIA MONEY, HE IS LOOTING THE COUNTRY INTO OBLIVION.”

The reactions come amid growing public concern over Nigeria’s increasing dependence on foreign loans under the Tinubu administration.

According to report, the World Bank has approved about $9.35 billion in loans and credits for Nigeria between June 2023 and May 2026 across sectors including power, education, healthcare, agriculture and economic reforms. 

If the fresh $1.25 billion facility is approved, total World Bank approvals under Tinubu could rise to about $10.6 billion. 

The proposed loan is expected to support economic reforms, investment growth, digital access, electricity expansion and job creation programmes. 

However, concerns over Nigeria’s debt burden have continued to intensify.

Recently, President Tinubu disclosed that Nigeria may spend about $11.6 billion servicing debt in 2026, representing nearly half of the country’s projected revenue for the year.

The president made the statement while calling for reforms to the global financial system, arguing that African countries face unfair borrowing conditions compared to wealthier nations.

Nigeria’s rising debt profile has remained a major topic of public debate, especially as inflation, fuel prices and the cost of living continue to rise across the country.

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Since assuming office in 2023, Tinubu’s administration has implemented major economic reforms including the removal of fuel subsidy and the floating of the naira, policies the government says are necessary for long-term economic stability.

But for many Nigerians reacting online, the growing volume of foreign borrowing remains a source of anxiety over the country’s future debt obligations and economic direction.