The World Bank announced a $750 million credit line (financial aid) to Nigeria for helping 36 states in Nigeria to push through reforms which will ultimately attract investment and create jobs. This credit line is part of a 1.5 billion package which is known as Country Partnership Framework (CPF) from 2021 to 2024. This package is said to help Nigeria build a better economy and recover resiliently after the Covid-19 pandemic.
Shubham Chaudhuri, World Bank Country Director for Nigeria stated, “This Country Partnership Framework will guide our engagement for the next 5 years in supporting the Government of Nigeria’s strategic priorities by taking a phased and adaptive approach,…”
As these aid and credit lines are discussed, we’ve seen economy of Nigeria grow faster than predicted by the central bank and the government last year. This growth was registered after an expansion in the trade and agriculture industries in the fourth quarter even after a drop in oil production.
The GDP of Nigeria expanded by 3.4% last year, after contracting to 1.92% in the year 2020. The GDP grew to 3.98% which was better than expected, the expected numbers by Finance Ministry and Central bank were 2.5% and 3.1% respectively.
Apparently there was a fall in oil production in Nigeria, which was at 1.50 million barrels a day than the previous 1.57 Billion barrels per day in the fourth quarter.
Seeing these numbers it is clear that Nigeria is not suffering from an immediate crisis but why is the World Bank very keen in giving credit lines to only Nigeria?
The answer lies in geopolitics. There’s no crisis looming on Nigeria’s head immediately and the West funded organizations like World Bank only come after the damage has been done. So, why is the US predominantly planting its proxy World Bank in the country? The reason is Nigeria’s rise and dominance in the continent of Africa. Nigeria is one of the largest economies in Africa and one of the fastest growing among them too. America’s eye on the Nigerian economy has been on it from the times when the AFRICOM was established. Even it is alleged by many analysts that the menace of Boko Haram is only created for destabilizing and controlling Nigeria.
Read More: Boko Haram is an offshoot of the CIA
The result of this destabilizing force in acting is that Nigeria loses at least 400,000 barrels of oil per day to thieves, vandals, and illegal refining operators. This gives a big jolt to Nigeria’s economy and the West earns from this nexus as it is deployed by the Western powers. At current prices an average barrel of oil costs $90 which amounts to $36 million [400,000*90] loss to Nigeria’s economy per day.
The 750 million dollar credit line and aid is probably given to Nigeria from the money earned through stealing Nigeria’s oil.
The NGO through which this aid is given is ‘International Development Association (IDA)’. This association is said to be keeping an eye on where the investments go. The West is notorious for igniting crises in the name of aid. The world has seen it during the Tigray Crisis which reignited after the aid of the European Union reached the Tigray Region. The aid was meant for the Tigray people but it ended up in the hands of TPLF which fueled the crisis furthermore.
Read More: European Union’s “financial aid” will make the war in Ethiopia even bloodier
As we have seen that the destabilizing force in Nigeria is Boko Haram and the oil thieves nexus which is assisted by Boko Haram only. The aid given to Nigeria by the West funded World Bank is nothing but funding to the destabilized population which will use it for wreaking havoc in Nigeria. The havoc during the previous year of elections and also during the current elections will fuel anti-governmental sentiments in the minds of the Nigerian Public. And this will provide a fertile ground for the West to install a puppet government.
Recently US Secretary Blinken suggested that America will help Nigeria in fighting terrorism and also in conducting free and fair elections. He was basically suggesting that the USA will increase its presence in Nigeria in the name of fighting terrorism. And the US’ help in conducting free and fair elections will do nothing for free elections but will give US a hold over the election process of Nigeria ultimately US manipulating it for the betterment of its interests in the region.
Read More: Blinken openly suggests that he’ll install a puppet President in Nigeria
It has been seen in the past that the US has given fine arms, ammunition, armored vehicles, choppers, and jets to the Taliban in the name of quick retreat from Afghanistan. So why cannot it give aid to a destabilized region to establish a hold over a strong and one of the fastest growing countries.
The theft of oil, credit line of the World Bank and the rise of terrorism in Nigeria is looking ugly and it can turn into a gloomier situation if Nigeria doesn’t understand the real agenda behind this aid.
