APM Demands World Bank Block $1.5bn Loan to Tinubu Government

The Allied Peoples Movement has petitioned the World Bank and multilateral lending institutions to decline Nigeria's request for a $1.5 billion credit facility under President Bola Tinubu's leadership. On Tuesday, party spokesman Abubakar Yusuf directed this appeal to foreign creditors and international finance bodies.

Central to the APM's position is Nigeria's escalating debt load. According to the party, total indebtedness has surpassed N166.7 trillion since Tinubu took office.

The APM contends that accepting additional borrowing will compound hardship for ordinary citizens while leaving core economic challenges unresolved. The situation grows more troubling, the party notes, since government coffers have swelled from petrol subsidy removal—yet loan-seeking persists regardless.

In its public remarks, the APM denounced the APC administration for exhibiting poor financial stewardship and criticized what it views as a reckless borrowing model. According to the party statement, those in power have formulated no coherent debt-repayment framework, rendering new loans indefensible.

The APM simultaneously called on multilateral institutions to guard the wellbeing of Nigeria's 200 million residents by cutting credit to an administration deemed fiscally untrustworthy. About $500 million from the proposed $1.5 billion package would supposedly finance climate adaptation efforts, available reports suggest.

The opposition party's stand intensifies ongoing dialogue about Nigeria's external borrowing decisions, though the World Bank has yet to formally address the APM's demand or disclose its position on loan conditions.