Since May 2023, President Tinubu’s government has borrowed approximately $7.2 billion in external loans, all from the World Bank. These include: $750 million (June 2023) for power sector recovery, $500 million (June 2023) for women empowerment, $800 million (July 2023) for social safety nets, $700 million (September 2023) for adolescent girls’ education, $2.25 billion (June 2024) for economic stabilization, $1.57 billion (September 2024) for health, education, and power, and $632 million (March 2025) for nutrition and education. No confirmed loans from other institutions like the IMF or China. A $21.5 billion request (May 2025) is pending.
How will the unborn generations of Nigeria pay up these debts?
Nigeria has to wake up.
