The Allied Peoples Movement (APM) has called on the World Bank and other international lenders to protect the interests of over 200 million Nigerians by withholding a fresh loan request from President Bola Ahmed Tinubu. The party described the All Progressives Congress (APC) administration as "squandermaniac" and condemned the attempt to mortgage the future of millions of Nigerians with a fresh $1.5bn credit.
The APM criticized the Tinubu administration for its borrowing appetite, despite receiving trillions of naira from the removal of petrol subsidies. The party stated that the funds have not been used effectively, with the value of the naira weakening, the productive sector crippled, and the purchasing power of the average Nigerian reduced. The party also noted that over 140 million citizens are unable to afford their daily meals.
According to the World Food Programme, about 35 million Nigerians face acute food insecurity in 2026. The APM lamented that Nigerians have endured extreme hardship, excessive taxes, and high costs of necessities since President Tinubu assumed office in 2023. The party attributed the food crisis to the administration's policies and its alleged corrupt practices.
The APM expressed concern that the APC administration claims to be working for the betterment of the country, but its actions suggest otherwise. The party stated that most of the funds borrowed by the administration are diverted to private pockets, while Nigerians struggle with collapsed infrastructure and unemployment.
The APM called on international financial bodies, including the World Bank and the International Monetary Fund, not to give any fresh credit to the Tinubu administration. The party argued that such a move would not be in the general interest of Nigeria and would only serve to further mortgage the country's future.
The party also criticized the APC for contesting the 2027 presidential election, despite its alleged poor performance. The APM stated that the party is pushing Nigerians to the precipice and that there is a limit to which a people can stomach under such circumstances.
The APM emphasized that Nigerians have reached a unanimity to vote out the Tinubu-led APC administration in January 2027. The party urged international lenders to consider the country's interest and not entrust an "outgoing" administration with any credit facility.
Key points
- The APM has called on the World Bank to reject President Tinubu's $1.5bn loan request.
- The party cited concerns over the country's debt and economic stability.
- The APM urged international lenders to consider Nigeria's interest and not entrust an "outgoing" administration with any credit facility.
