The World Bank has reportedly restricted comments on some of its Instagram posts following a wave of reactions from Nigerians over reports that the Federal Government is seeking a fresh $1.25 billion loan facility.
The backlash followed reports that the proposed facility, titled “Nigeria Actions for Investment and Jobs Acceleration”, is nearing approval stage and could be presented for approval on June 26, 2026.
According to reports, the loan is expected to support economic reforms, job creation, electricity access, digital infrastructure, and agricultural competitiveness.
However, many Nigerians flooded the World Bank’s Instagram page with comments expressing concern over the country’s rising debt profile and worsening economic conditions. Some users urged the lender not to approve additional loans for the administration of Bola Tinubu.
Reports said the volume and intensity of the reactions appeared to have led to restrictions on comments under some posts on the organisation’s Instagram account.
Data cited in the reports showed that Nigeria has secured about $9.35 billion in loans and credits from the World Bank between June 2023 and May 2026. If the proposed facility is approved, total World Bank approvals under Tinubu could rise to about $10.6 billion.
Economists quoted in reports maintained that borrowing itself is not necessarily harmful, but stressed that the effectiveness of such loans depends on transparent utilisation, revenue growth, and the country’s ability to manage debt sustainably.
