A United States based advocacy firm, Von Batten Montague York, has called on major international lenders to suspend new loans to Nigeria ahead of the country’s 2027 presidential election.
The firm made the call in a statement posted on its X account on October 4, raising concerns about Nigeria’s borrowing plans and the timing of new financing as the next election approaches.
The statement, attributed to Dr. Von Batten, focused on reported efforts by President Bola Ahmed Tinubu’s administration to secure additional financing from international institutions, including the World Bank, the European Investment Bank and France’s Agence Française de Développement.
The group argued that large international loan requests made close to an election deserve closer scrutiny because of the risk that public funds could be poorly managed or diverted.
The advocacy firm also raised broader concerns about corruption and the use of borrowed money in Nigeria. It alleged that funds obtained through loans can disappear while political figures benefit from public resources, leaving ordinary Nigerians with the burden of repayment.
The firm said it intends to raise its concerns with the World Bank and pointed to the role of the United States as a stakeholder in the institution.
It called for new loans to Nigeria to be paused until after Nigerians choose their next leaders in the 2027 election.
The call comes as Nigeria continues to rely on international financing for major development and economic programmes. Recent World Bank records show that Nigeria had about 19.03 billion dollars in outstanding IDA loans and about 1.62 billion dollars in IBRD loans as of June 30, 2026. The World Bank also lists several major projects approved for Nigeria in 2026, including 1.25 billion dollars in financing for actions aimed at investment and job creation and 500 million dollars for sustainable agricultural value chains.
The Federal Government has also been discussing additional World Bank financing. A report published in September said Nigeria was seeking three new facilities worth a combined 1.5 billion dollars for climate resilience, social protection and early childhood development. The proposed financing included an additional 500 million dollars for the Agro Climatic Resilience in Semi Arid Landscapes project.
International development financing has also supported specific infrastructure projects in Nigeria. In Lagos, for example, a 410 million euro water transport project is being financed through a combination of loans from AFD and the EIB, an EU grant and funding from the Lagos State Government.
The advocacy firm’s latest intervention therefore comes against a wider debate over Nigeria’s rising debt, new borrowing and the way public funds are managed as the country moves toward another election.
The debate over new lending is likely to remain closely tied to questions about transparency, debt sustainability, project oversight and how international financing benefits Nigerians as the 2027 election approaches.
