Is Nigeria's borrowing helping or hurting citizens?

Nigeria's external debt has climbed to $51.8 billion (€48.2 billion), yet thegovernment is seeking even more financing— including a proposed $1.25 billion World Bank loan expected to be considered in June 2026. While officials say the funds will support investment and job creation, many Nigerians question whether years of borrowing have delivered real improvements.With elections just months away, skepticism is growing over whether new loans will ease economic pressure or deepen the country's financial strain.