•Raises concerns over timing of fresh borrowing ahead of presidential poll
A United States-based advocacy organisation, Von Batten-Montague-York, has called on the World Bank to suspend fresh lending to Nigeria until after Nigerians elect their next leaders in the 2027 general election.
The organisation said it plans to engage the World Bank over what it described as the timing of Nigeria’s requests for additional financing from international development institutions ahead of the election.
The group made its position known in a statement shared by its principal, Dr Von Batten, who alleged that loan requests by African governments close to elections could create opportunities for the diversion or misuse of public funds.
According to the organisation, Nigeria is seeking billions of dollars in financing from the World Bank, the European Investment Bank (EIB) and France’s Agence Française de Développement (AFD) as the country approaches the 2027 presidential election.
It argued that the new lending should be paused until after Nigerians elect their next leaders.
The organisation also alleged that Nigeria’s borrowing history had raised concerns about the management of public funds, claiming that borrowed funds could be misused while politicians acquire properties abroad.
Von Batten said his organisation would approach the World Bank because the United States is a stakeholder in the institution.
The call comes amid concerns over Nigeria’s rising debt burden and the cost of servicing existing obligations.
According to the Debt Management Office, Nigeria’s total public debt stood at ₦159.28 trillion as of December 31, 2025, comprising ₦84.85 trillion in domestic debt and ₦74.43 trillion in external debt. The figure represented a 10.1 per cent increase from ₦144.67 trillion recorded at the end of 2024.
Federal Government obligations accounted for the bulk of the debt, while the overall figure also included the liabilities of the 36 states and the Federal Capital Territory.
Nigeria’s external creditors include multilateral institutions such as the World Bank Group, while its external commercial obligations include Eurobonds.
The debt burden has also been accompanied by rising debt-servicing costs. President Bola Tinubu said in May 2026 that Nigeria would spend about $11.6 billion on debt servicing in 2026, up from about $5.15 billion in 2025, describing the cost as a constraint on investment in infrastructure, healthcare and education.
The advocacy group’s demand comes as Nigeria enters the 2027 election cycle, with the timing and purpose of fresh borrowing likely to remain a subject of public and political debate.
The group, however, did not present evidence that any current World Bank or other international loan to Nigeria had been diverted, and its allegations concerning potential misuse of fresh loans remain its stated position.
