By Daniel Kudayah
The Allied Peoples Movement, APM, has called on the World Bank and other international lenders to stop plans to give the Federal Government a fresh $1.5 billion loan.
The party said further borrowing could increase the country’s debt burden and put more pressure on Nigerians.
The call was made in a statement by the APM National Publicity Secretary, Abubakar Yusuf.
Yusuf said the party was concerned about the government’s ability to repay the growing debt while Nigerians were facing economic hardship.
“The APM strongly condemns the attempt by President Tinubu to further mortgage the future of millions of Nigerians with a fresh $1.5bn credit from the World Bank,” Yusuf said.
The party also questioned the continued borrowing despite increased government revenue following the removal of the petrol subsidy.
It said the policy had been followed by a weaker naira, lower purchasing power and difficulties for businesses and other productive sectors.
The APM said Nigerians had also faced higher costs of food, electricity, transportation, healthcare and other basic needs since President Bola Tinubu assumed office in 2023.
The party referred to a World Food Programme estimate that about 35 million Nigerians could face acute food insecurity in 2026.
It accused the APC-led administration of making positive claims about its performance despite the economic difficulties faced by many Nigerians.
The APM called on the World Bank, International Monetary Fund, China, the United States and other international lenders to reject further loans to the Tinubu administration.
The party also said Nigerians would vote against the Tinubu-led APC administration in the 2027 elections.
It said its presidential candidate, Engr. Seyi Makinde, would, if elected, focus on transparency, proper management of public funds, productive investment and rebuilding Nigeria’s productive sector.
