₦airaland Forum

Does it worth the defence mechanism, what's wrong with APC n their supporters

SuperEagles:
The funny thing is they keep shouting Tinubu as borrowed Nigeria lifetime away but ask them to provide details of loan Tinubi took since he becane president them no go fit talk again.

June 9, 2023 – $750 million (World Bank)
Purpose: Power Sector Recovery Performance-Based Operation to boost electricity access and reliability. Financed by the International Bank for Reconstruction and Development ($449 million) and the International Development Association ($301 million). Only $1.12 million had been disbursed by July 31, 2024.

June 26, 2023 – $500 million (World Bank)
Purpose: Nigeria for Women Program Scale-Up (NFWP-SU) to enhance women’s economic empowerment. Disbursement details are not fully specified in available data.

July 13, 2023 – $800 million (World Bank)
Purpose: National Social Safety Net Programme to cushion the effects of fuel subsidy removal. Approved by the Senate, this loan was initially part of a plan under former President Buhari but executed under Tinubu.

October 23, 2023 – $3.45 billion (World Bank)
Purpose: Approved by the Federal Executive Council, this package included funding for power sector projects, renewable energy, states’ resource mobilization, adolescent girls’ education (AGILE), and women’s empowerment. Specific breakdowns include $700 million for AGILE and other allocations not fully detailed in single figures.

November 2023 – $1 billion (African Development Bank)
Purpose: Concessionary loan to finance budget deficits and improve foreign exchange supply.

June 13, 2024 – $2.25 billion (World Bank)
Purpose: Two projects:
Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET) Development Policy Financing (DPF) – $1.5 billion (with $751.88 million disbursed by July 31, 2024) to boost fiscal revenues and social safety nets.
Accelerating Resource Mobilization Reforms Program-for-Results (PforR) – $750 million for tax and revenue reforms.

September 26, 2024 – $1.57 billion (World Bank)
Purpose: Three loans for health, education, and power projects:
$750 million for power sector enhancements.
$500 million for women’s empowerment.
$320 million (plus other funding) for education and health initiatives.

March 31, 2025 – $1.08 billion (World Bank)
Purpose: Recently reported to strengthen human capacity through better healthcare, though specifics on disbursement and exact project allocation are limited as of now.

Pending 2025 – $2.23 billion (World Bank)
Purpose: Six planned loans under discussion, as reported in February 2025, to further economic and infrastructure projects. These are not yet finalized or disbursed as of April 5, 2025.

November 29, 2023 – $7.8 billion + €100 million (External Borrowing Plan)
Purpose: Part of the 2022-2024 borrowing plan approved under Buhari but sought by Tinubu for infrastructure, agriculture, health, education, and security. At the exchange rate then (around N900/$), this equated to roughly N7.1 trillion. Approval status and disbursement remain partially unclear in real-time data.

Total Approved Loans (to date): Approximately $6.45 billion (World Bank alone, as of October 2024) plus additional sums like the $3.45 billion FEC-approved package, $1 billion from AfDB, and the $7.8 billion + €100 million plan, pushing the total sought or secured to over $20 billion. However, disbursement lags significantly, with only about 16% of some World Bank loans (e.g., $774.99 million of $4.95 billion) released by July 2024.

Note: Exact totals vary due to pending approvals, partial disbursements, and fluctuating exchange rates. Some loans are conditional, requiring project milestones for full release.

2. List of Visible Developmental Projects Funded with the Loans
Tracking specific projects funded by these loans is challenging due to delays in disbursement, limited real-time reporting, and the broad nature of stated purposes. Below are projects explicitly linked to the loans or mentioned in government statements, though “visibility” (tangible outcomes) is not always fully documented as of April 5, 2025:

Power Sector Enhancements
Loan: $750 million (June 2023) and $750 million (September 2024).
Project: Expansion of electricity access via the Power Sector Recovery Operation and Distributed Access through Renewable Energy Scale-Up. Aims to connect 90 million off-grid Nigerians.

Visible Outcome: Limited progress reported; only $1.12 million disbursed from the first loan by mid-2024, suggesting slow implementation. No widespread grid improvements noted yet.

National Social Safety Net Programme
Loan: $800 million (July 2023).
Project: Cash transfers and support for vulnerable households post-fuel subsidy removal.
Visible Outcome: Over N570 billion released to states for livelihood support by August 2024, benefiting 600,000 nano-businesses with grants. An additional 400,000 are targeted, but specific impacts (e.g., poverty reduction) are not widely quantified yet.

Adolescent Girls’ Initiative for Learning and Empowerment (AGILE)
Loan: $700 million (October 2023).
Project: Education support for girls in 11 states, expanding from 7 states where enrollment rose from 900,000 to 1.6 million girls.
Visible Outcome: Increased school attendance in states like Borno and Kano, though insecurity hampers full rollout.

Nigeria for Women Program Scale-Up
Loan: $500 million (June 2023) and $500 million (September 2024)
Project: Economic empowerment initiatives for women.
Visible Outcome: Limited specifics; aims to improve livelihoods, but no major completed projects highlighted yet.

Economic Stabilization and Resource Mobilization (RESET and PforR)
Loan: $2.25 billion (June 2024).
Project: Fiscal reforms, social safety net expansion (targeting 67 million Nigerians), and agricultural boosts (e.g., cultivating 10 million hectares).

Apcshit:
Shameless man,nstead of condeming he iis retracting

Tinubu and his Boys called and ask that he retract his statement

Tinubu removed petrol subsidy which led to increase in transportation cost and virtually every other thing in Nigeria by x10.

Removed subsidy on tertiary education tuition fee for Nigerian students which led to increase in university school fees and he cunningly brought student loan, loan not grant.

Tinubu brought Telecom tax, this pushed data price up.

He still went ahead to tax 50 naira for any transactions of 10,000 naira and above

Tinubu devalued Naira and unified our exchange rate which jerked exchange rate up and led to increase in commodity prices in Nigeria.

Tinibu increased the of clearing of goods 6 times in less than 3years in office, upto 800%

Tinubu removed subsidy on electricity tariffs and introduced band A, band B, C billing system which led to increase in electricity bill by x10

Tinubu is introducing new tax law that will force many struggling businesses to start paying huge tax from 2026.

Tinubu introduced new vehicle ownership style whereby every owner of vehicle in Nigeria now pay to FG every year to renew the ownership of their car. So every year you pay Tinubu to verify that your car is still your car not that you sold the car to a new owner.

Braze up for patrol tax from next year you pay 45naira for every 1 liter of fuel you buy 😭😭

Tinubu is now introducing house insurance which will cause annual rent in Nigeria to increase by x2 so that people paying NGN2 million per flat in a year will now pay NGN3.5million to NGN4million once he implements the housing insurance policy and Una say this man called Tinubu should not be impeached before 2027?

Nigerians continue playing na my tribes man, e go soon clear for una eyes shocked

May the supporters of this inhumanity never end well, may the cry of poor Nigerians reach God's heart 😭😭

Emphasis on achieving the short and long term payment plans with a view to existing these debts is key to sustainable development.

What a poor attempt at damage control!

Abass merely stated the obvious but, must have been tongue-lashed by his superiors to backtrack on his words.

Alas!

The horse has already bolted!

Admittedly, it was a Freudian slip capable of embarrassing Tinubu, his cabinet and his party, the APC.

A man who hates criticisms, loves himself more than the truth.





@hotseat

Goodluck Jonathan studied them well and knew there's need to rescue Nigeria from unscrupulous elements masquerading as leaders there.
History has vindicated him.

AMINDA:
Damage control. Let Speaker Abass himself make the disclaimer. They also came out to make a disclaimer when Kashim Shettima spoke but we all heard what he said. That single statement by Shettima also put a pause on all talks about his replacement, at least for the main time. Speaker Abass will have to step down or be impeached if Tinubu decides to pick a VP candidate from the Northwest.

How can he pick vp from northwest.....you don't even understand your countries geo political arrangements....the NW just finished 8 years of presidency,the slot for vp is for either ne or NC......people who don't even understand our their country runs expect us to trust their political judgement.

hotseat:
What a poor attempt at damage control!

Abass merely stated the obvious but, must have been tongue-lashed by his superiors to backtrack on his words.

Alas!

The horse has already bolted!

Admittedly, it was a Freudian slip capable of embarrassing Tinubu, his cabinet and his party, the APC.

A man who hates criticisms, loves himself more than the truth.





@hotseat

Nigeria is gone; just a tiny string of hope still holding it.

SarkinYarki:
Are you working for the govt now ?

Is the speaker of the house working for the government now? Is he not a part of the government?

Must you contribute when you have nothing sensible to say?

How can he?
Na the same money them go LOOT NA

erad:
Is the speaker of the house working for the government now? Is he not a part of the government?

Must you contribute when you have nothing sensible to say?

Is he the spokesman for speaker?

Zico5:
They have started the front and back issue again. Masses are truly patient. I don't know why everyone is silent upon everything Tinubu is doing to make life hard for the masses. They will wake up one day. I pray it's not too late cos Tinubu won't back down until he tax the masses to their graves.

So that they will tag whoever comes out Igbo and start attacking Igbos, when we were warning you guys that this is worst person to support to become president, some of you thought we just hated him because of his tribe, part of the reason why I kept on shouting that this man should never get there was I knew it will be very hard to remove him or protest against him and he will always want to have his way.

Didn't you people learn from Lagos, Tinubu never stopped being the governor of Lagos, till date he is still the de-facto governor, for me and we the Igbos we will not do any protest against Tinubu because they will want to use it against us.

Personally I knew once Tinubu gets there, there will be nothing democratic about him, I kept on asking myself if you people ever learn, this guy played with the lives of Nigerians for 8 years for him to become president and you people called it politics...

That reason alone was enough to pursue him from getting there but here is where Nigeria is today, personally I don't believe in Nigeria anymore, the unity to me is dead, even if Peter Obi becomes president today, I will still seek the dissolution of Nigeria because our regional ideologies are not the same.

I feel this Buhari and Tinubu kind of presidency may keep repeating itself because of that regional ideological difference.