The World Bank has announced the approval of a $2.25 billion loan to support President Bola Tinubu’s reform The apex bank said the loan was approved to support Nigeria’s response to the current economic challenges facing the country Some Nigerians have taken to the comment section of the post on social media to express their displeasure about the loan
Nigerians have expressed concerns as the World Bank announced the approval of a new loan worth $2.25 billion for the administration of President Bola Tinubu. The World Bank tweeted on Thursday, June 13, that the loan had been approved and was meant to support President Bola Tinubu’s reforms in the country.
The tweet read: “The @WorldBank unveils new funding to support #Nigeria’s reforms in response to economic challenges while enhancing support for the poor & vulnerable to ease the impact of rising living costs.” Reacting to the development, some Nigerians took to the post’s comment section, saying the money would be embezzled. Below are some of their reactions:
Haleem said: “This money is not going anywhere in this country. The moment it hits our account, they will steal away everything.” A user with the handle @echetanedum said: “This reckless lending is a crime against humanity, against the Nigerian masses! You lend because of your self-profit, not incorporating due checks on usage! This loan will have No Socioeconomic Impact on Nigerians, as usual! Check records if you have any!”
Another Nigerian with the handle @Famozy2 commented: “Happy to hear your willingness to support Nigeria’s reforms in response to economic challenges; we appreciate your concerns. However, we will appeal you deal directly to areas of most concern, and not release funds which will end up been looted.”
Evan Nedu wrote: “The World Bank is aiding and abetting corruption in Nigeria, The politicians are having a filled day with our monies. No checks and balances, no transparency and accountability. The Bretton Woods institutions are using loans to keep Nigeria perpetually poor.”
Another Nigerian with the handle @aniebietafia_ alleges: “You better not give that money to government because if you do, it will never reach the common man. They’ll eventually use it to buy private jets, SUVs, mansions etc for themselves. Nigeria has a spending problem and not revenue problem.”
By Bada Yusuf
