The Conference of Nigeria Political Parties (CNPP) and the Coalition of National Civil Society Organisations (CNCSOs) have voiced strong opposition to the federal government’s plan to secure a $1.75 billion loan from the World Bank. Describing the proposal as “reckless, insensitive, and a betrayal of the Nigerian people,” the civic groups warned that it could spark widespread public anger and deepen the country’s economic woes. They questioned the rationale for fresh borrowing, especially in light of the government’s recent claims of record‑breaking revenue collection.
Official data shows that Nigeria recorded N20.59 trillion in revenue between January and August 2025—a 40.5 % increase from the same period last year—with non‑oil sources contributing 75 % of total collections. The groups argue that the government’s appetite for new debt is unjustified, particularly given President Bola Tinubu’s administration’s boasts of surpassing 2025 revenue targets ahead of schedule. Instead of taking on more debt, they contend that the government should focus on recovering stolen public funds that are being looted through a network of cronies, contractors, and corrupt officials.
The civic organisations called for the establishment of a high‑powered presidential judicial panel to audit past and present loans, trace diverted funds, and return looted assets to the Federation Account. Without such steps, they warned, the Tinubu administration risks being seen as complicit in the very corruption it pledged to fight. Their statement also highlighted the everyday struggles of Nigerians, who face inflation, high transportation and food costs, and deepening poverty following the removal of fuel subsidies. They criticized rising electricity tariffs, excessive taxation, and “policy‑induced suffering” for ordinary citizens, linking these economic pressures to worsening public health, sudden deaths, family breakdowns, and a growing wave of youth emigration.
The morality of the proposed loan was further condemned, with the groups denouncing the extravagant lifestyles of political leaders who “keep enslaving the people with loans whose benefits never reach the masses.” They warned that new borrowing would only exacerbate the situation, as debt servicing already consumes the bulk of national revenue and offers no real economic benefit. In their statement, the CNPP and CNCSOs reiterated their opposition to the $1.75 billion loan, demanding fiscal discipline and anti‑corruption reforms. They emphasized that Nigeria does not need more loans to function, but rather leadership willing to recover stolen wealth, curb waste, and invest honestly in job creation and infrastructure. Their stance underscores the need for the government to reassess its fiscal direction and prioritize the welfare of its citizens.
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