We’ve Gotten The Loan’ – Oyedele Fires Back At Nigerians Criticising World Bank

According to Ireporter Online, Oyedele said the criticism was largely driven by a lack of understanding of how international lending and development financing operate.

The minister spoke on Thursday in Abuja during a media briefing on the Federal Government’s economic reform scorecard, where he discussed the impact, costs and benefits of reforms implemented by the administration since 2023.

Oyedele disclosed that some Nigerians had flooded the World Bank’s social media platforms with criticisms after the institution announced financing for Nigeria.

According to him, the comments became so abusive that the World Bank eventually disabled the comment section on its social media account.

The minister said the incident demonstrated that some members of the public did not fully understand the procedures governing international loans and the conditions attached to development financing.

“People went to the social media account of the World Bank to go and be abusing them that they’re giving Nigeria loan. World Bank just switched off the comments. We’ve gotten the loan because that’s not how the system works,” Oyedele said.

He further compared the misunderstanding to complaints about how government funds are allocated, noting that some Nigerians appeared to believe that borrowed funds could simply be withdrawn and distributed directly to individuals.

Oyedele maintained that international lending involves established processes and frameworks, stressing that the government’s access to World Bank financing should be understood within the broader context of economic reforms and development programmes.

The minister urged Nigerians to seek better understanding of public finance and international development financing before criticising such arrangements.