2027: US Firm Moves to Halt Fresh Loans to Nigeria

A United States-based advocacy firm, Von Batten-Montague-York, has called on international financial institutions to suspend new loans to Nigeria ahead of the 2027 presidential election.

The firm made the call in a statement shared on its social media platform while reacting to reports that the administration of President Bola Tinubu was seeking billions of dollars in financing from international lenders.

According to the firm, Nigeria’s requests for additional financing from the World Bank, European Investment Bank and France’s Agence Française de Développement are coming only months before the 2027 general election.

The advocacy group questioned the timing of the borrowing plans and urged international lenders to exercise caution in approving new financing for the country.

It argued that additional borrowing close to an election could raise concerns about how borrowed funds would be used, particularly in the period leading up to the presidential poll.

The firm specifically mentioned Nigeria’s reported engagement with the World Bank, European Investment Bank and Agence Française de Développement, saying lenders should consider suspending fresh financing until after the election.

The call comes as the Federal Government continues to seek external financing to support its economic programmes and development initiatives.

The Tinubu administration has defended its borrowing strategy as part of efforts to finance infrastructure, support economic reforms and address fiscal pressures.

The government has also maintained that its reforms are aimed at strengthening the economy and creating conditions for sustainable growth.

Nigeria’s debt and borrowing requirements have remained a subject of public debate, with concerns over debt servicing costs, revenue generation and the country’s ability to finance development without excessive dependence on borrowing.

The 2027 presidential election is expected to intensify political activities and scrutiny of government spending and financial decisions.

The advocacy firm’s position therefore adds to growing international and domestic debate over Nigeria’s borrowing plans as the country approaches another election cycle.

The group did not announce any formal decision by the World Bank, EIB or AFD to suspend lending to Nigeria. Its statement was an appeal to the institutions to halt new loans ahead of the election.