A United States-based advocacy firm, Von Batten-Montague-York, has urged international financial institutions to suspend new loans to Nigeria ahead of the 2027 presidential election.
The firm made the call while reacting to reports that President Bola Ahmed Tinubu’s administration is seeking billions of dollars in financing from international lenders.
In a statement shared on its X handle, the organisation specifically referenced Nigeria’s reported requests for financing from the World Bank, European Investment Bank (EIB) and France’s Agence Française de Développement (AFD), arguing that the timing was significant because the 2027 general election is only months away.
The advocacy group said it intended to engage the World Bank over the issue, pointing to concerns about the way borrowed funds have allegedly been handled in Nigeria.
It argued that loans should be put on hold until Nigerians elect their next leaders, citing what it described as the country’s history of corruption.
The firm also alleged that while Nigeria continues to take on loans, politicians acquire properties in the United States and Europe as ordinary citizens struggle with the cost of feeding their families.
The call comes as the Tinubu administration continues to seek external financing, according to the reports cited by the US-based advocacy organisation.
No response from the Nigerian government, the World Bank, the European Investment Bank or the Agence Française de Développement was contained in the material provided.