On April 17, 2025, the World Bank announced a $17 billion allocation to Nigeria aimed at funding poverty reduction programs, a move that sparked immediate backlash on social media platforms like X. Nigerian users, such as @Oglazkid5, voiced deep concerns, stating, “Stop Giving Nigeria Government Money. They only use it to buy SUVs and build houses for themselves.” This sentiment, echoed by others like @KaniAkhere and @Web3Senseii, reflects a broader distrust in the Nigerian government’s ability to manage such funds responsibly under the ruling All Progressives Congress (APC). Citizens fear this loan will fuel corruption, exacerbate the country’s infrastructure deficit, burden future generations with debt, and further destabilize the already fragile naira exchange rate. Historical mismanagement of previous loans under the APC lends credence to these concerns, as billions of dollars remain unaccounted for while poverty and infrastructure challenges persist.
Since the APC came to power in 2015, Nigeria has secured multiple loans from the World Bank and other international institutions, often with promises of development and poverty alleviation. However, a pattern of mismanagement, diversion, and unaccounted funds has consistently emerged. For instance, in 2018, the World Bank provided a $232 million loan to improve nutrition services for women and children in 11 Nigerian states. By December 2024, Nigerian lawmakers launched an investigation into the alleged mismanagement of this loan, with Representative Chike Okafor describing the program as “water, water everywhere but not a drop to drink”—a well-funded initiative with no tangible outcomes (allAfrica, 2024). Reports indicated that malnutrition rates in the targeted regions remained stagnant, and funds were allegedly diverted to unrelated expenditures, leaving the project in limbo.