This World Bank/Nigeria Saga Exposes The Real Enemies Of Africa’s Development.

Added: 2026-05-24

[00:00:00]We have our hands on the plow and we're never going TO LOOK BACK.

[00:00:10]IT IS VERY CLEAR that initially it was painful, difficult, but those who win are not [clears throat] those who who not give up. Hey guys, my name is Modie and you are welcome back to Modie Speaks. I'm sure that by now most of you, if not all of you, already know that I am originally Nigerian born and bred. Yes guys, I'm a Naija girl. So it is only fair that every once in a while I bring you stories from Nigeria just to keep us up to speed with what is happening around the world. So guys, let's talk about Nigeria. And hey, please do not click away because believe me, you are going to enjoy today's video because this story is not only important but it is also very, very funny. Now, when you think about Nigeria or any other part of Africa for that matter, what comes to your mind? I'm sure you think about um nature, beautiful rivers, wonderful forests, magnificent wildlife, people with diverse, rich culture, nature in its purest form, right? But also come on, let us be truthful.

[00:01:20][clears throat] You also think about underdevelopment, intense poverty and hardship, rampant unemployment, poor standard of living, right? Good. Now, when you hear Africans talk about the impoverishness of their nations or the underdevelopment of their nations, who do they blame? Of course, the white man. They blame anything and anybody with a white skin. They blame good old colonialism. But what if I tell you that despite the fact that many Africans try to point fingers at external factors, especially white people, as the reason for their object poverty or underdevelopment. Many of them actually know that that is in fact not the case. Many of them are perfectly aware that that is just an excuse and the reason for their predicament lies within them because today's story points out that many of these Africans know exactly why their nations are economically, technologically, and developmentally backward as compared to nations in Asia and in the Western world. So, the president of Nigeria, Bola Ahmed Tinubu, made a fresh move to borrow the sum of 1.25 billion dollars from the World Bank. Guys, that's a lot of money. And when you change it into Nigerian Naira, that is even a lot of money, more money than you can ever think of. Now, the president claims that this loan >> [laughter] >> is going to be used for an initiative which he captioned Nigerian Actions for Investment and Jobs Acceleration. Sounds very nice to the ears, right? But believe me, guys, the only thing about this particular loan is how good the so-called initiative sounds to the ear because make no mistake, Nigerians have seen this movie over and over and over again. They are fed up with all the loans being taken from countries like China, from Western nations, from the World Bank, from private investors, from pretty much anybody rich enough and willing enough to indulge their borrowing addiction. So, Nigerians know that this new loan is not going to be any different from all the other different loans they have embezzled in the past, loans that end up depreciating the Naira, destabilizing the economy, and resting in the pockets and the Swiss bank accounts of these leaders instead of serving the purposes they claimed it would serve. So, in a bid to block this latest money laundering scheme from their government, millions of Nigerians took to the Instagram page of World Bank and left thousands, if not millions, of messages demanding that World Bank should not grant the loan request from their president as this would only make life more difficult for the average Nigerian. I have a lot of things to expose with this story, but first of all, let's take a look at the news clip.

[00:04:19]There you go. It appears the World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to the federal government of Nigeria. The digital protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh 1.25 billion-dollar World Bank loan for approval on June 26th, just 6 months before the 2027 election.

[00:04:46]Nigerians stormed the page with one message, stop borrowing our leaders' money. Let's take a look at some of the tweets. Martins wrote on X, stop giving Tinubu loan.

[00:05:00]Tinubu's achievements so far. One, expensive food, expensive food, expensive electricity, weak naira, rising insecurity, growing poverty, endless propaganda. Alai town wrote on X, the money are being used for personal interest, not for the country. It is being used for the election, not for the country. Hear the masses cry and please don't grant them the loan because we, the masses, will still suffer it. I'm sure you saw that at the family, the hashtag stop borrowing Tinubu loan.

[00:05:36]Well, just days ago, Tinubu announced Nigeria will spend 11.6 billion dollars on debt servicing in 2026, nearly half of projected revenue. Now he's SEEKING ANOTHER $1.25 BILLION LOAN, and the World Bank's response to frustrated Nigerians is to lock the comments.

[00:05:56]Well, an institution that preaches transparency just silenced the very people whose futures are being mortgaged. Now, it's really funny that World Bank had to lock their comment section for fear of being destroyed and bombarded with accusations and hateful comments from millions of Nigerians, guys.

[00:06:18]>> [gasps] >> The fear of Nigerians in comment sections is the beginning of wisdom.

[00:06:22]>> [laughter] >> But anyway, guys, even though I perfectly agree that World Bank is not actually a saint, okay? Those guys can be disgusting. But in this case, they are not actually the villain. They didn't do anything wrong. The bad guys are actually the greedy and corrupt politicians who keep seeking loans and collecting loans worth billions of dollars from foreign entities. And besides, I don't think that the wise frame of action for Nigerians to take is to flood the comment section of World Bank on Instagram, okay? I think the right thing to do would have been to write to their respective senators, their constitutional representatives, their lawmakers. Bombard these guys with messages telling them to reject the petition to seek for this loan. Tell them to reject this loan. Do not approve the petition for this loan. But on second thought, that would have been like, you know, a dead end because at the end of the day, knowing Nigerian leaders, including their so-called senators, they are all corrupt. Bunch of thieves waiting for every opportunity to embezzle money, steal from the citizens, launder money, and even protect their counterparts who are doing the same. So, we Nigerians are properly doomed, and we are not doomed because of colonialism.

[00:07:43]No, we are not doomed because of all the white man. No, we are finished because most of our leaders are thieves. They don't care about the survival of the country or the well-being of the citizens. They only care about them stealing enough money, enough wealth for their 20th generation unborn. But, I'm happy that uh Nigerians are finally ready to address the problem from the root. I'm happy they did not come with their usual nonsense of blame the white man, colonialism this, colonialism that, slavery this.

[00:08:15]Okay, they have now accepted the biggest thieves are not white people in London or in Washington. Rather, they are right there in Aso Rock, in Nigerian state government houses, in those convoys with sirens blaring while ordinary Nigerians queue for fuel. Okay, fuel is being produced in Nigeria, but fuel is very expensive in Nigeria. The so-called African leaders, presidents, governors, ministers, they are the ones milking the country dry. They embezzle billions meant for roads, meant for hospitals, schools. They stash all this money in their Swiss bank accounts, Dubai mansions, and London penthouses. Their kids school in the best universities abroad while African-owned universities are on strike every other year. These leaders are the final bosses of medical tourism. They don't use African hospitals. One small headache, and it is first class to Germany or the UK or Turkey or even India. Meanwhile, the local clinics has no drugs, no doctors, no electricity. They borrow money in the name of the citizens of their country, and the results ghost projects and inflated contracts. Nigeria's total public debt has ballooned to over 160 trillion in recent data. 160 trillion naira with external debt alone in the 40 to 50 billion dollar range depending on the exact quarter. China stands out as the biggest bilateral creditor.

[00:09:49]Nigeria's debt to China has climbed steadily from around 1.4 billion dollars in 2015 to over 3.3 billion dollars by 2020, then 4.73 billion dollars by mid-2023 and hitting a about 5.16 billion dollars by late 2023. Recent reports mention new loan approvals like the $652 million Chinese Exim Bank loan in 2025 for roads linking Lekki Deep Sea Port and the Dangote Refinery. And they keep asking for more loans, guys. It doesn't ever end. The worst part is that when one president ends his tenure, the next president comes into power and starts borrowing from where the former president stopped. Over 90% of Nigeria's government internal revenue is used in debt servicing. Sometimes they even borrow money from new countries to pay the old countries they are owing. It is a crazy world out there in these African nations. And at the end of the day, these leaders live like kings at the expense of their citizens. Like I said, they fly abroad for medical treatments, they send their schools to the most expensive schools abroad, they buy properties in Dubai and other developed countries, they store money in their Swiss bank accounts, they have a good life while the country collapses.

[00:11:16]Hospitals and schools are not equipped, insecurity skyrockets, inflation shoots through the roof, the currency's value plummets, cost of living explodes, poverty deepens for millions, youth unemployment, insecurity, migration all worsened. Now, I understand that borrowing money itself is not evil if used productively with transparency, audits, and returns that outpace costs.

[00:11:44]But, when it is embezzlement disguised as development, when results are invisible amid rising poverty, when we borrow all this money without showing what it has been able to be achieved with, then what you get is a country like Nigeria. Mind you, this current president has only 6 months in office, yet he is planning to borrow this huge amount of money from World Bank. If that doesn't sound fraudulent to you, then believe me, you are most definitely not Nigerian. So, finally, this addiction to borrowing goes to prove again that, indeed, Africa is the way it is because of Africans, not because of some phantom white people. But, as always, guys, these are my thoughts and my opinions.

[00:12:32]Please, feel free to share yours in the comment section below, but do so respectfully. Also, if you haven't subscribed to this channel, honestly, I don't know what you're waiting for.

[00:12:41]Subscribe to this channel. Like and share this video to keep people informed, and [music] consider joining my membership or buying me a coffee if you like as a way of supporting the channel. Thank you for watching this video, and I hope to catch you on the next one. For now, peace.

[00:12:56]>> [music] [music] [music]