BREAKING: World Bank Restricts Instagram Comments as Nigerians Protest Tinubu’s Fresh $1.25b Loan

• The World Bank has reportedly restricted comments on its Instagram page following backlash from Nigerians over plans by President Bola Tinubu administration to secure a fresh $1.25 billion loan facility.

The World Bank has reportedly restricted comments on its Instagram page following a wave of reactions from Nigerians opposing plans by the Federal Government to secure a fresh $1.25 billion loan under President Bola Tinubu.

The backlash followed reports that the Federal Government is in advanced discussions with the World Bank over a proposed loan facility aimed at supporting economic reforms, electricity expansion, digital infrastructure, agriculture, and job creation programmes.

The proposed facility, titled Nigeria Actions for Investment and Jobs Acceleration, is expected to be presented for approval on June 26, 2026.

If approved, the loan would become the second-largest single World Bank facility secured under the Tinubu administration, behind the $1.5 billion Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing approved in June 2024.

At the current exchange rate of N1,361.4 to one dollar, the proposed $1.25 billion loan translates to about N1.70 trillion.

The development has triggered strong reactions from many Nigerians, especially on social media, where users flooded the World Bank’s platforms with comments urging the institution to stop approving additional loans for Nigeria.

Many critics cited concerns over Nigeria’s rising debt burden, worsening economic hardship, inflation, and the long-term impact of continuous external borrowing.

Following the online backlash, observers noticed that the World Bank’s Instagram comment section appeared restricted, limiting the influx of reactions linked to Nigeria’s proposed borrowing plan.

The latest borrowing proposal comes amid growing scrutiny over Nigeria’s increasing dependence on multilateral financing under the current administration.

Findings showed that the World Bank has approved about $9.35 billion in loans and credits for Nigeria between June 2023 and May 2026.

The approvals cover several sectors, including electricity, healthcare, education, agriculture, renewable energy, social protection, MSME financing, and economic reform support.

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Some of the major packages approved include the $2.25 billion RESET and ARMOR reform financing approved in June 2024, $1.57 billion for HOPE and SPIN programmes in September 2024, and another $1.08 billion for education and resilience programmes approved in March 2025.

If the proposed $1.25 billion facility is approved, total World Bank approvals under the Tinubu administration would rise to approximately $10.6 billion.

However, reports indicate that many approved loans are not immediately disbursed because fund releases are tied to specific reform conditions and policy requirements.

The development has continued to spark debate among Nigerians over the country’s borrowing strategy and economic reform agenda ahead of the 2027 general elections.