The World Bank has restricted comments on its Instagram page following intense backlash from Nigerians over a proposed $1.25 billion loan for President Bola Tinubu’s administration. The move came after widespread online criticism, with citizens flooding the platform to oppose further external borrowing amid rising national debt and worsening economic hardship.

The proposed facility, named “Nigeria Actions for Investment and Jobs Acceleration,” has become a focal point of public debate, reflecting deep concern over Nigeria’s fiscal direction.

Reports indicate that the loan is in advanced discussion stages and is intended to fund economic reforms, electricity infrastructure, digital expansion, agriculture, and job creation initiatives.

It is scheduled for approval on June 26, 2026, a timing that has sparked political controversy due to its proximity to the 2027 presidential election cycle. If approved, it would be the second-largest World Bank loan under the current administration, following a $1.5 billion facility approved in 2024, adding significantly to Nigeria’s external debt burden.

At an estimated value of N1.70 trillion, the proposed loan has intensified criticism from opposition groups, including the African Democratic Congress (ADC), which described the government’s borrowing pattern as a “Ponzi economy.”

The party argued that repeated loans have failed to translate into improved living conditions, citing inflation, naira depreciation, rising tariffs, and unemployment as evidence of deepening hardship.

With Nigeria’s public debt now estimated at N159.28 trillion and debt servicing projected to reach $11.6 billion in 2026, critics warn that continued borrowing could further strain the economy while offering limited visible benefits to citizens.