The World Bank has restricted Instagram comments after Nigerians reacted to a proposed $1.25 billion loan to Nigeria.
The World Bank has restricted comments on its Instagram page following reactions from Nigerians over a proposed $1.25 billion loan to Nigeria under President Bola Tinubu’s government.
The restriction came after many Nigerians used the bank’s social media page to question the loan, Nigeria’s rising debt level and the government’s borrowing plans. The reactions followed growing concerns over living costs, inflation and the state of the economy.
Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed. Others said the country should reduce dependence on foreign loans and focus on improving local revenue.
The federal government has continued to defend its borrowing plans. Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.
Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.