Documents Reveal Tinubu's $750Million World Bank Loan Required Imposing New Taxes On Alcohol, Telecoms, Betting, Vehicles, Others

The Bola Tinubu administration signed an agreement with the World Bank for a $750 million loan, following the Bank’s approval on June 14, 2024, five days before the final disbursement deal was concluded with the Nigerian government. The loan was signed under the Accelerating Resource Mobilisation Reforms (ARMOR) Program-for-Results for Nigeria. As of the time of filing this report, the Nigerian government had already accessed $280.551 million of the approved loan.

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