The Allied Peoples Movement (APM) has issued a strong warning to the World Bank and other international lenders, urging them to refrain from extending new loans to President Bola Tinubu's administration. The party argues that such financial assistance would further mortgage the future of Nigerians, especially in light of the country's current economic struggles.

In a statement released on Tuesday by its National Publicity Secretary, Abubakar Yusuf, the APM expressed deep concerns regarding the proposed $1.5 billion credit from the World Bank. The party criticized the Tinubu administration for lacking a clear strategy to repay the mounting debts that have accumulated since it took office in 2023. This criticism comes amid growing economic hardship faced by citizens, which the APM attributes to the government's borrowing practices.

The APM highlighted that despite the government's claims of increased revenue following the removal of the petrol subsidy, the reality on the ground tells a different story. The party pointed to the depreciation of the naira, a decline in purchasing power, and increasing pressure on the productive sector as evidence of the negative impact of these policies. Citizens have been grappling with rising costs of living, including higher taxes and prices for essential goods and services such as food, electricity, transportation, and healthcare.

Yusuf stated, "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." This statement underscores the party's position that the current administration's financial strategies are unsustainable and detrimental to the welfare of the populace.

The APM's call to action reflects a broader concern among opposition parties regarding the economic direction of the country under Tinubu's leadership. As Nigeria continues to navigate a challenging economic landscape, the implications of further borrowing remain a contentious issue, with many advocating for more prudent fiscal policies that prioritize the long-term stability of the nation over immediate financial solutions.