News
It is time for Nigerians to drag the IMF and World Bank
It is time for Nigerians to drag the IMF and World Bank
By Augustine Osayande
The recent directives issued by the Executive Board of the International Monetary Fund (IMF), emerging from its thorough Post Financing Assessment (PFA), have ignited robust debate within Nigeria’s economic circles. Particularly contentious is the Board’s insistence on the Federal Government, led by President Bola Ahmed Tinubu, to fully eliminate all subsidies, including those pertaining to electricity. This call has elicited a spectrum of reactions ranging from commendations for the President’s economic policies to sharp criticisms. Amidst this discourse, the IMF’s recommendations serve as a focal point illuminating the intricate dynamics between external financial pressures and domestic economic imperatives.
Against the backdrop of Nigeria’s formidable economic challenges, the timing of these recommendations couldn’t be more critical. With inflation skyrocketing to an alarming 28.92 percent and food inflation hovering around 30 percent over the past year, coupled with an unprecedented depreciation of the Naira to an all-time low of N1,540 to a dollar, the nation stands at a crossroads in its economic trajectory.
The IMF’s historical involvement in Nigeria’s economic landscape draws scrutiny, notably regarding the implementation of Structural Adjustment Programs (SAPs) during the 1980s and 1990s. While ostensibly aimed at addressing economic crises, these programs often resulted in stringent austerity measures, currency devaluation, and deep cuts to public spending. Critics contend that these policies exacerbated poverty and inequality, perpetuating Nigeria’s economic challenges instead of fostering sustainable development.
A focal point of criticism towards IMF and World Bank interventions is Nigeria’s substantial external debt burden, a significant portion of which is owed to these international financial institutions. This debt overhang severely restricts the country’s fiscal space, diverting resources away from vital sectors like healthcare, education, and infrastructure. Detractors argue that the terms of debt repayment imposed by these institutions exacerbate Nigeria’s economic woes, underscoring the urgent need for more equitable arrangements.
Furthermore, IMF and World Bank loans often come attached with stringent conditions, including fiscal austerity measures and mandates for privatization. While ostensibly aimed at promoting economic stability and growth, these conditions have faced vehement criticism for their adverse impacts on national sovereignty and socio-economic equality. Critics argue that such conditions fail to account for the unique circumstances of countries like Nigeria, advocating instead for a more nuanced and tailored approach to development.
The IMF and World Bank have been accused of espousing neoliberal economic policies that prioritize market liberalization and privatization, often at the expense of domestic industries and vulnerable populations. This critique underscores broader concerns regarding the effectiveness and fairness of these institutions in addressing the needs of developing countries like Nigeria.
In response to these challenges, there is a growing chorus calling for reforms that prioritize the interests and well-being of the Nigerian people. Advocates stress the importance of empowering local communities, fostering sustainable growth, and ensuring equitable resource distribution. This necessitates bolstering domestic institutions, promoting inclusive policies, and fostering partnerships grounded in mutual respect and cooperation.
Ultimately, the ongoing discourse surrounding IMF recommendations in Nigeria reflects broader calls for reform within international financial institutions. By asserting agency and advocating for alternative approaches to development, Nigerians aspire to tackle entrenched economic disparities and pave the way for a more just and prosperous future.
■ Augustine Osayande, PhD, contributed this piece through austinelande@yahoo.com
It is time for Nigerians to drag the IMF and World Bank
News
Flood: NGO cautions Gombe residents against indiscriminate dumping of waste
Flood: NGO cautions Gombe residents against indiscriminate dumping of waste
Jewel Environmental Initiative (JEI), a Non-Governmental Organisation (NGO), in Gombr, on Friday tasked residents in the state on proper disposal of waste to mitigate the impact of flooding this 2026.
The Chief Executive Officer of the NGO, Mr Ismail Bima, made the call in an interview with our Correspondent in Gombe on Friday.
According to Bima, the huge losses associated with flooding and its negative impact on the environment and livelihoods has made it imperative for collective efforts to tackle flooding in Gombe.
He urged residents to take responsibility in ensuring a clean environment for their wellbeing.
“We have been sensitising residents for weeks now because of the impact of flooding on our people, communities and livelihoods.
“We must not wait for the rain before doing the right thing.
“Avoid dumping wastes in drains and water channels; this is key to addressing flood related disasters as the rainy season commences,” he said.
Bima disclosed that his team had intensified sensitisation exercise in Kwami, Nafada, Funakaye and Yamaltu/Deba Local Government Areas of the state because they were proned to flooding..
He said that the flooding in Funakaye had been attributed largely to buildings erected in waterways, stressing that,”residents should vacate the area.
“I urge the state government to relocate people from such areas to help save lives and properties.
He commended th State government’s efforts in reclaiming degraded land and building huge concrete gullies in several communities to help manage severe erosion.
He said that the concrete gullies have helped in protecting critical infrastructure and livelihoods of thousands of residents in the state.
Bima urged the government and residents to take advantage of the rainy season to plant more trees to replace those that have been fellen for firewood and charcoal purposes.
Flood: NGO cautions Gombe residents against indiscriminate dumping of waste
News
Angwa-Rukuba Killings: Court orders suspects to remain in DSS’ custody*Okays speedy trial
Angwa-Rukuba Killings: Court orders suspects to remain in DSS’ custody
*Okays speedy trial
By: Our Reporter
A Plateau State High Court on Friday ordered that four suspects standing trial for their alleged involvement in the March 2026 killings in the Angwa Rukuba community of Jos North Local Government Area, remain in the custody of the Department of State Services (DSS).
The court also agreed to a request by the prosecution to speed up the trial. The matter was adjourned to May 26 to consider the report on the case management conference, and 1st and 2nd July for hearing.
The suspects, identified as Isa Umar Ibrahim, Auwalu Abubakar (also known as Auwalu Dogo), Musa Abubakar Ibrahim (also known as Yaroro), and others, are facing charges of terrorism and criminal conspiracy.
The charges were filed by the State Attorney General, Philemon Daffi, under the Plateau State Penal Code Law, 2017.
On Friday, Mustapha Shabbat (SAN), who announced his appearance for the defendants, objected to their continued detention in the facility of the DSS.
In a short ruling, however, the trial judge held it it remained the discretion of the court to determine where to keep suspects under trial.
“Considering the facts and circumstances of this case, this honorable court has jurisdiction to remand the defendant in the custody of DSS or correctional centr provided the place of custody is safe.
“The defendants are hereby remanded in the custody of the DSS. They must however be allowed to have access to his counsels while in detention pending the prompt conclusion of investigation,” ruled the judge.
Court: Case management has already been taken place in accordance with the provisions of the law. The case is hereby adjourned to 26th May for report of the court on case management and further adjourned to 1st and 2nd July, 2026 for hearing.
The particulars of offence read, in part “That you, Isa Umar Ibrahim, Musa Abubakar Ibrahim of Riyom Local Government Area, Auwalu Abubakar (A.K.A Auwalu Dogo) of Jos North Local Government Area, Musa Abubakar Ibrahim (A.K.A Yaroro) of Jos North Local Government Areas of Plateau State; and one Ado Ibrahim (Now at Large) of Riyom Local Government Area of Plateau State, on the 28th day of March, 2025 at Farin Gada, Jos North Local Government Area, did conspire amongst yourselves to commit offences relating to terrorism when you planned, organized, facilitated, aided, and contributed money to carry out the attack in Angwan Rukuba, Jos North Local Government Area of Plateau State within the Jurisdiction of this Honourable Court; you thereby committed the above offence.
“That you, Isa Umar Ibrahim, Musa Abubakar Ibrahim of Riyom Local Government Area, Auwalu Abubakar (A.K.A Auwalu Dogo) of Jos North Local Government Area, Musa Abubakar Ibrahim (A.K.A Yaroro) of Jos North Local Government Areas of Plateau State; and one Ado Ibrahim (Now at Large) of Riyom Local Government Area of Plateau State, on the 28th day of March, 2025 at Farin Gada, Jos North Local Government Area, did commit the offence of terrorism when you planned, organized, facilitated, aided, contributed and received money to carry out an attack in Angwan Rukuba, which led to the death of over thirty (30) people in Jos North Local Government Area of Plateau State within the Jurisdiction of this Honourable Court.”
Part of the particulars of Alhassan’s offence read, “That you Adamu Isah Alhassan together with one Ibrahim Musa (Now at Large), Imarana Sa’idu (Now at Large), Yusuf Sa’idu (Now at Large) Aliyu Usaini (Now at Large), Yahuza Adamu (Now at Large), Mubarak Yunusa (Now at Large), Yakubu, whose surname is unknown (Now at Large) and others also at large between the months of January to December, 2025 and in January, 2026 at Gwang, Rin Ward, Bachit and Bangai Villages of Riyom Local Government Area and Vom in Jos South Local Government Areas of Plateau State within the jurisdiction of this Honourable Court did commit an illegal act to wit: Culpable Homicide Punishable with Death, when you armed yourselves with guns, attacked and killed the residents of Gwang, Rin Ward, Bachit and Bangai Villages of Riyom Local Government Area and Vom in Jos South Local Government Area of Plateau State, and you thereby committed the above offence.”
Angwa-Rukuba Killings: Court orders suspects to remain in DSS’ custody
*Okays speedy trial
News
Breaking; Court Dismisses Sowore’s no-case submission in DSS’ charges of Cyberbulling Tinubu
Breaking; Court Dismisses Sowore’s no-case submission in DSS’ charges of Cyberbulling Tinubu.
*Fixes May 19 to open defence
Justice Mohammed Garba Umar of the Federal High Court in Abuja on Friday dismissed the no-case submission made by politician-activist, Omoyele Sowore, in the charge of Cyberbullying President Bola Tinubu brought against him by the Department of the State Services (DSS).
The Court upheld DSS’ charges against Sowore for allegedly calling President Bola Ahmed Tinubu a “criminal” in his social media handles. The judge fixed May 19 for Sowore to enter his defence in the charges against him.
Sowore had filed the no-case submission and prayed the court to discharge and acquit him from the 2-count charge.
In the long ruling, Justice Umar punctured Sowore’s arguments that the DSS provided only one witness, that the victim, President Bola Tinubu, wasn’t invited to testify. He held that the DSS successfully linked Sowore to the alleged crime, and that the defendant did not deny posting the offensive messages online.
The judge further ruled that the Supreme Court has long established that any evidence, no matter how small that links a defendant to an alleged crime is sufficient to establish a prima facie case established against the defendant to warrant his defence in the allegations against him.
Shortly after the ruling, counsel to the DSS, Akinlolu Kehinde, SAN, told the court that he was ready to proceed with the trial. However, Sowore’s counsel, Marshall Abubakar, rose to appeal to the judge that his client has something important to tell the court. Even though counsel to the DSS protested the move, insisting that the rule was that a defendant may be represented in court by a counsel or by himself, not both, the judge allowed Sowore use the microphone to address the court.
He began by openly accusing the Judge of bias, and asked the judge to recuse himself, as he wasn’t sure of getting justice in his court.
He alleged that the judge was in cohort with the federal government convict him at all costs so as to prevent him from contesting the 2027 general election.
His counsel, Abubakar echoed the same sentiment, asking the Judge to return the case file to the Chief Judge of the Federal High Court for re-assignment to another judge,
The DSS lawyer, Akinlolu Kehinde SAN who had earlier asked the Judge not to grant audience to Sowore but his counsel on record, prayed that the recusal application be discarded.
In a brief ruling, Justice Umar ordered Sowore to file formal application for recusal and state his grievances,
He thereafter fixed May 19 for the defendant to open his defense.
Breaking; Court Dismisses Sowore’s no-case submission in DSS’ charges of Cyberbulling Tinubu
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News1 year agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
