The Socio-Economic Rights and Accountability Project, SERAP has asked the World Bank to suspend the 800 million dollars loan being requested by the President Muhammadu Buhari
administration.
The Nigerian leader had in the letter stated that the loan, when approved by the Senate, would be used to alleviate the negative impacts of petrol subsidy removal, which his government has refused to remove but left alone for the next administration.
Buhari claimed the loan facility was intended to be used to support poor Nigerians, and would be disbursed to poor households as unconditional cash transfer across the country.
However, SERAP, in a letter signed by its deputy director, Kolawole Oluwadare, to the World Bank president, David Malpass, urged the bank to seek clarification from the incoming administration on the use of the loan, as Buhari’s term ends in May 2023.
