The Allied Peoples Movement has entreated the World Bank and other international lenders to protect the interest of over 200 million Nigerians by withholding fresh loans from the ‘squandermaniac’ All Progressives Congress (APC) administration led by President Bola Ahmed Tinubu.
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 even when his administration does not have any clear-cut strategy to pay back the over N166.7 trillion debt accumulated under his watch.
According to the National Publicity Secretary of APM, Abubakar Yusuf stated on Tuesday saying that ,
It is unacceptable that even with the trillions of Naira derived from the removal of subsidy on petrol, the Tinubu administration is engaged with its morbid appetite for borrowing with nothing to show apart from weakening the value of the naira, thereby crippling our productive sector and reducing the purchasing power of the average Nigerian.
It is distressing that whereas the APC administration always claim that the loans are for plausible causes, most of the funds are diverted to the private pockets of a corrupt cabal while Nigerians continue to struggle with collapsed infrastructure and unemployment with over 140 million citizens unable to afford their daily meals.
Since President Tinubu assumed office in 2023, Nigerians have endured extreme hardship, excessive taxes, high cost of electricity, transportation, food, basic medicare and other necessities of life.
The scale of the food crisis is reflected in the assessment of the World Food Programme, which estimates that about 35 million Nigerians face acute food insecurity in 2026.
Most disturbing is that in the face of President Tinubu’s calamitous misrule which has plunged our nation into misery and “dark tunnel of uncertainty”, the APC is arrogantly bandying false performance claims and even have the temerity to be contesting the 2027 Presidential election.
It is clear that the APC is mistaking the patience and level of tolerance by Nigerians as a sign of weakness, perhaps believing that they have been conquered. The APC must be made to understand that they are pushing Nigerians to the precipice and there is a limit to which a people can stomach under such circumstances.
The APM, as a party committed to the wellbeing of Nigerians, restates its call to international financial bodies including the World Bank, the International Monetary Funds and other international lenders such as China, United States among others not to give any fresh credit to the Tinubu administration as such is not in the general interest of our nation.
Nigerians have reached unanimity to vote out the Tinubu-led APC administration in January 2027. Such an ‘out-going’ administration should not be entrusted with any credit facility on behalf of our nation
The APM assures Nigerians that when elected, our Presidential candidate, Engr Seyi Makinde would Reset governance by placing greater emphasis on transparency, fiscal discipline, productive investment, effective utilization of the nation’s resources and revamping of our productive sector to ensure a new lease of life to all Nigerians.
