Law Students’ Association urges Tinubu to restructure World Bank loans

Law Students’ Association urges Tinubu to restructure World Bank loans

Taiwo Aremu

West African Law Students’ Association has advised President Bola Tinubu to restructure the country’s World Bank loans and seek better loan repayment terms.

It also called for effective utilisation of foreign donors’ funds by ministries, departments and agencies.

President of the Association, Nazir Sunusi stated this at a press conference in Abuja on Thursday.

He said: “Most of the loans before President Bola Tinubu came into office have been used for advocacy, meetings and consultancies without any impact on the Nigerian masses especially our mothers and downtrodden.

“We don’t want our loans to be used again on any advocacy, meetings or consultancy, even paying for office rent. .

We need it to be used transparently on sustainable empowerment and support that will be open to the public to verify”.

On donors’ funds, Sunusi submitted that such monies be channeled on sustainable empowerment.

The Debt Management Office (DMO) said Nigeria’s total public debt as of September 30, 2023 was N87.91trillion ($114.35bilion). (Guardian)