Nigeria's rising debt profile is no longer sustainable, and the need to address this issue has reached an urgent level. The country faces a dire economic crisis, and the alarming reality is that Nigeria will spend about $11.6 billion servicing its debt by 2026, which accounts for nearly half of its projected revenue. In the year 2025 alone, Nigeria spent $5.15 billion solely on debt servicing. This financial distress comes at a great cost to essential services such as infrastructure, healthcare, and education, all of which have suffered significant setbacks due to scarce funding. As a result, the government continues to indulge in lavish spending while the majority of citizens endure rising inflation and a crippling cost of living, marking the highest inflation rates since 1960. Electricity supply remains epileptic, and the number of out-of-school children has surged to over 20 million.

Moreover, the loans approved by the World Bank, including a staggering total of $9.35 billion in loans and credits from June 2023 to May 2026 for the BAT administration, exacerbate the situation, providing funds often misused for political agenda such as vote buying rather than national development.

It is critical to compel The World Bank to refrain from granting fresh loans to Nigeria. Continued financial support without accountability and effective channels for development exacerbates the economic instability and compounds Nigeria's debt burden. By advocating for a halt to new loans, we are calling on the World Bank to demand fiscal responsibility and the implementation of policies that truly address Nigeria's development needs instead of funding governmental excesses.

We urgently need your support to make this change a reality. Your voice and signature can help persuade The World Bank to reconsider their loan approvals to Nigeria until there is a demonstrable change towards sustainable financial management. Join us in advocating for a future where funds are utilized correctly, infrastructures are rebuilt, educational systems are revived, and economic stability is achieved.

Please add your voice and sign this petition to compel The World Bank to stop granting further loans to Nigeria until rigorous measures are in place to ensure accountability and sustainable development. Together, we can make a difference.