Post by Henry Emeka (@Emekus)
Your Excellencies, Esteemed Sirs/Madams 240 million Nigerians are
writing to express deep concern regarding the proposed $5 billion Total Return Swap (TRS) loan arrangement involving the International Monetary Fund (IMF), First Abu Dhabi Bank (FAB), and the Government of Nigeria under President Bola Ahmed Tinubu.
Nigeria is currently facing severe economic hardship. Over 240 million Nigerians continue to suffer from decades of poverty, unemployment, inflation, and unreliable electricity. 240 million Nigerians fear that additional opaque borrowing—especially through complex instruments such as TRS financing—will worsen the country’s debt burden without delivering visible progress or structural reforms.
There is widespread public concern that such loans may be mismanaged or diverted toward non‑essential expenditures, including luxury assets, rather than addressing urgent national needs such as infrastructure, healthcare, education, and energy.
Given these circumstances, we respectfully urge the IMF and First Abu Dhabi Bank to:
Respectfully refrain from approving any TRS loan or similar borrowing arrangement for the current administration until clear, measurable progress is demonstrated in governance, transparency, and fiscal responsibility.
Apply strict oversight and accountability requirements to any future financial engagements with Nigeria.
Encourage Nigerian leaders—across ruling and opposition parties, the Senate, state governors, and other public officials—to reduce excessive government spending and prioritize the welfare of 240 million Nigerian
Nigeria’s future depends on responsible leadership and sustainable economic policies. International financial institutions play a critical role in ensuring that borrowed funds truly benefit 240 million Nigerians
Thank you for your attention to this matter.
https://dailypost.ng/2025/07/27/your-borrowing-10-times-worse-than-buhari-adc-tells-tinubu/
https://punchng.com/ending-nigerias-18-3-million-out-of-school-children-crisis/
https://politicsnigeria.com/2026/06/09/imf-warns-tinubus-govt-over-newly-approved-5bn-loan/
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