The Nigeria Labour Congress (NLC) has strongly criticized the International Monetary Fund (IMF) for its alleged role in Nigeria’s economic woes.
IMF’s Denial
The IMF recently denied involvement in Nigeria’s removal of petroleum subsidy, calling it a “domestic decision.” However, the NLC disputes this claim.
NLC’s Accusation
In a statement, NLC President Joel Ajaero accused the IMF and World Bank of recommending harsh economic policies that have led to socioeconomic hardship and stagnation in Nigeria and other developing nations.
Call to Action
The NLC urges the World Bank and IMF to:
1. Stop interfering with Nigeria’s economic policies.
2. Allow Nigeria to reclaim its economic sovereignty.
3. Prioritize social welfare over fiscal metrics.
Expert Insights
Economists suggest Nigeria should focus on increasing export trade to drive growth, social welfare, and equity.
Key Quotes
- “IMF’s denial of involvement in Nigeria’s subsidy removal rings hollow.” – Joel Ajaero, NLC President
- “We call on the World Bank and IMF to remove their knees from our necks so that we can breathe as a nation.” – Joel Ajaero
Vanguard.
