The World Bank has reportedly restricted comments on its Instagram page after angry Nigerians stormed its social media accounts over plans by President Bola Tinubu’s administration to secure another $1.25billion loan facility.
The backlash erupted as many Nigerians urged the global financial institution to stop approving additional loans for the country, citing worsening economic hardship, rising inflation and Nigeria’s growing debt burden.
The proposed loan package, known as “Nigeria Actions for Investment and Jobs Acceleration,” is expected to be presented for approval on June 26, 2026.
Reports indicate that the Federal Government is currently in advanced discussions with the World Bank over the fresh facility, which is expected to support economic reforms, electricity expansion, digital infrastructure, agriculture and job creation initiatives.
The planned approval date has also stirred debate online because it is expected to come barely six months and 21 days before the January 16, 2027 presidential election, according to the revised timetable released by the Independent National Electoral Commission.
If approved, the $1.25billion facility would rank as the second-largest single World Bank loan obtained under the Tinubu administration, behind the $1.5billion Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing approved in June 2024.
Using the official exchange rate of ₦1,361.4 to one dollar, the proposed facility is estimated at about ₦1.70trillion, highlighting the scale of external borrowing currently being pursued by the Federal Government amid mounting fiscal pressure and ongoing economic reforms.
SaharaReporters observed that the World Bank’s Instagram page recorded a sharp rise in traffic and engagement after discussions surrounding the proposed loan gained momentum online.
Several Nigerians reportedly flooded the platform with criticism over the country’s continued dependence on foreign borrowing, warning that citizens were already battling the effects of subsidy removal, naira depreciation, inflation and soaring living costs.
Following the outrage, users noticed that comment sections on some posts had been restricted, displaying the message: “Comments on this post have been limited.”
The development has further intensified public concerns over Nigeria’s debt profile and renewed scrutiny over the transparency and impact of successive loans secured by the Federal Government under the Tinubu administration.
