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ActionAid Nigeria Describes IMF, World Bank Promoters of Bad Economy Policies

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ActionAid Nigeria Describes IMF, World Bank Promoters of Bad Economy Policies

By: Michael Mike

ActionAid Nigeria has described the World Bank and International Monetary Fund (IMF) as promoters of bad economy policies on Nigerians, stressing that the two international monetary organisations have
been deeply involved in Nigeria’s economy for decades, pushing policies that have done far more harm than good.

A statement on Tuesday signed by the Country Director, ActionAid Nigeria Andrew Mamedu, said the organisation strongly disagrees with the recent statement made by the World Bank Senior Vice President and Chief Economist, Mr. Indermit Gill at the 30th Nigerian Economic Summit (NES30) in Abuja, urging the Nigerian government to sustain its current economic reforms for the next 10-15 years with no clear plans on how it will cater for the people is misguided and insulting to the millions of Nigerians living through unprecedented economic hardship.

Mamedu said: “This call assumes that continuity and persistence in these policies will yield transformative results, but the evidence tells otherwise. While long-term reform is important, the strategies proposed by the World Bank seem disconnected from the immediate socio-economic realities of Nigeria, especially regarding poverty, weak institutional capacity, and structural economic deficiencies.”

Mamedu added that: “The 2003-2007 reforms which he claims is what Nigeria needs is agreeable in the area of debt cancelation, savings and accountability, but it’s negative effect in the devaluation of naira, subsidy removal and corruption was the bane of that reform.”

He lambasted that: “The World Bank and International Monetary Fund (IMF) have been deeply involved in Nigeria’s economy for decades, pushing policies that have done far more harm than good. The Structural Adjustment Programme (SAP) introduced in the late 1980s remains one of the most devastating legacies of this relationship. It crippled our local industries, especially the textile sector, and opened the floodgates for Nigeria to become heavily dependent on imported goods.”

He explained that: “Before the SAP, Nigeria’s textile industry was a vibrant hub employing hundreds of thousands of workers. However, with the IMF-driven policies forcing cuts in subsidies, import liberalization, and currency devaluation, Nigeria was pushed to shut down its own production capacity. According to the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN), over 90% of textile products used in Nigeria valued at over $4 billion are imported, primarily from countries in the Global North. These reforms, instead of fostering local economic growth, have funneled wealth out of Nigeria and into the pockets of international financial institutions and foreign economies.”

Mamedu added that: “These reforms lauded by the World Bank have promoted an import-dependent economy, stifling small businesses and local industries. Successive governments have failed to reverse this trend, and the current reforms, such as the fuel subsidy removal and exchange rate unification, continue to hurt small-scale businesses and everyday Nigerians. According to the National President of the Association of Small Business Owners of Nigeria (ASBON), more than 8 million small businesses has shut down within 18 months over economic hardship due to the impact of the economic policies under the administration of former President Muhammadu Buhari and the current administration of President Bola Tinubu.

“This trajectory has driven unemployment and increased poverty levels across the country, with more Nigerians relying on imported goods to meet basic needs. Instead of empowering local entrepreneurs, these policies enrich multinational corporations and external economies, deepening Nigeria’s dependence on foreign imports and exacerbating inequality.”

Mamedu further added that: “While the World Bank celebrates the unification of Nigeria’s exchange rate as the “most effective in 20 years,” it has led to severe hardship for citizens, driving inflation to a 28-year high. Additionally, the sudden removal of fuel subsidies without robust compensatory mechanisms has further eroded household incomes. These reforms disproportionately affect Nigeria’s poorest, pushing the country deeper into poverty while global financial institutions and foreign investors reap the benefits of Nigeria’s open economy.”

He said: “We acknowledge the World Bank’s emphasis on the need for safety nets to mitigate the effects of these reforms. ActionAid Nigeria supports the call for investments in non-oil sectors, job creation, and financing social safety nets through the savings from fuel subsidies. However, it is essential that these efforts are not mere tokenism. Safety nets must be effective, transparent, and sustainable, not reliant on debt-fueled international loans.
It is not only unacceptable but inhumane to ask Nigerians to endure 15 more years of suffering in the name of reforms that have historically failed us. Millions of Nigerians can barely afford food, fuel, or basic services today. Asking them to wait for over a decade for “things to get better” is an affront to their dignity and a reckless gamble with the nation’s future.

“The question is, how many Nigerians will be alive till then to reap the benefits of this reforms, what does the future holds for our children who are currently feeling the brunt of the hardship, will there still be hope for them in 15 years’ time?”

He said: “ActionAid Nigeria emphasizes that Nigerians cannot and will not wait for 15 years for economic policies that will continually inflict hardship. The people of this nation deserve urgent action, not promises of long-term recovery. Every passing day under the weight of these reforms pushes more citizens into extreme poverty and despair.

“We demand that the government rethinks its blind allegiance to the World Bank’s economic blueprint and starts prioritizing the welfare of its people. The government must reject the idea that growth must come at the expense of human lives and begin to invest meaningfully in local industries, small businesses, and sustainable economic models that empower Nigerians rather than enslave them.

“The government must impartially fight one of the root causes of this hardship which is corruption starting with the NNPC as they are at the middle of corruption and responsible for mismanagement of funds from recent reports of the $300 million ‘bailout funds collected from the Federal Government. Amongst all, accountability to the people must take precedence and reforms must be people centered.”

ActionAid Nigeria Describes IMF, World Bank Promoters of Bad Economy Policies

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Youths break peace accord in Taraba, trigger deadly reprisal attacks despite repeated warnings

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Youths break peace accord in Taraba, trigger deadly reprisal attacks despite repeated warnings

By: Zagazola Makama

Barely weeks after security forces brokered a peace accord between farmers and herders in Karim Lamido Local Government Area of Taraba State, renewed violence has broken out, triggered by actions that have now led to death, destruction and growing instability in the region.

Zagazola Makama was reliably informed by intelligence sources that despite the security agencies holding three separate meetings with youth and community leaders where appeals for restraint and peaceful coexistence were passionately made, local youths in Badanwa reportedly violated the terms of the agreement by launching attacks on Fulani herders grazing near their farms.

The sources said that the troops deployed under Operation Lafiyan Jamaa responded swiftly to a distress call at about 2:50 p.m. on Friday, May 23. Upon arrival, the troops discovered that some fleeing Fulani herders had retaliated in panic, killing two locals believed to be from Munga Lelau village. The victims, according to sources, were attacked with machetes during the chaos and confusion that ensued.

The violence spiraled further when troops, while pursuing leads into the unfolding crisis, encountered armed bandits burning houses in Munga Lelau. In the exchange of fire, troops neutralised two of the bandits and recovered a dane gun, a cell phone, a fabricated pistol, and four cartridges. Further searches around Munga Doso village led to more arms recovery.

The crisis, according to security officials, could have been avoided if community leaders had been obeyed and the peace agreement upheld.

“You cannot go and attack people grazing near your village and expect them not to retaliate. That is the reality we are dealing with. We had already put a framework in place for dialogue and monitoring,”

The resurgence of hostilities was a a result of a reckless mob action and the failure of some community elements to honour peace initiatives facilitated by security agencies. Just because you see a Fulani man with his livestock, you the. Pick up sticks, cutlass and other weapons and began shouting hochebe hey hochebe hey. And now that it has become bad, you are calling on the security agencies to defend you,” a senior security officer who spoke on condition of anonymity said.

Security forces have since intensified patrols in the general area to forestall further escalation. However, the general situation remains volatile, with fresh tensions threatening to undo months of painstaking confidence-building efforts.

In the wake of these developments, security authorities have suggested that the local government consider imposing a curfew in the affected areas as a short-term measure to prevent further reprisal attacks and restore normalcy.

“It’s time to go beyond warnings. There must be consequences for those who break peace accords or act as enablers of violence. No community can progress in a state of perpetual suspicion and provocation,” said Bala Ibrahim, a conflict resolution expert based in Jalingo.

Zagazola report that for now, the military and other security agencies have continue to dominate the general area with strategic patrols. But the challenge ahead is steep: rebuilding broken trust, enforcing accountability, and ensuring that peace is not just signed but sincerely upheld.

Youths break peace accord in Taraba, trigger deadly reprisal attacks despite repeated warnings

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Zulum begins 100-bed hospital, market complex in Dikwa

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Zulum begins 100-bed hospital, market complex in Dikwa

By: Michael Mike

Borno State Governor, Prof. Babagana Zulum has commenced the construction of a new 100-bed capacity general hospital and a market complex in Dikwa.

Zulum assessed the proposed project site on Thursday and directed that work should begin immediately.

The new hospital will include features such as modern medical equipment and specialised units to address the various health challenges faced by the community.

When completed, the hospital will offer comprehensive medical services, such as emergency care, maternal health, and outpatient services, to the residents of Dikwa and surrounding communities.

According to the governor, projects are part of the state government’s ongoing efforts to restore stability, improve healthcare, and boost economic activities in places affected by the over one decade old insurgency.

Speaking separately, Zulum charged the contractors to ensure compliance with all engineering specifications.

The Governor was accompanied by a member of the House of Representatives, Engr Bukar Talba, a member representing Dikwa at the State House of Assembly; Zakariya Mohammed, Commissioner for Local Government and Emirate Affairs, Sugun Mai Mele; Commissioner for Agriculture, Engr Bawu Musami; Permanent Secretary of Government House, Barr. Mustapha Ali Busuguma, among many senior officials.

Zulum begins 100-bed hospital, market complex in Dikwa

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Why is the northeast being sidelined in a party like APC? – Chillariye

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Why is the northeast being sidelined in a party like APC? – Chillariye

By: Yahaya Wakili

The former chairman of the All Progressives Congress (APC), Yobe State, and adviser on nongovernmental affairs to Governor Mai Mala Buni, CON, Alhaji Adamu Abdu Chillariye has expressed his grievances on how the Northeast is being marginalized by some parts of the country.

He said people in some part of the country are acting like the Northeast is not part of Nigeria because anything concerning the Northeast for development, they will quickly kick against it.

Alhaji Adamu Abdu Chillariye disclosed this in a special interview with NEWSng in Damaturu, the state capital.

He said, like the Northwest seat, they together endorse President Ahmed Bola Tinubu alone for a second term without mentioning Kashim Shettima as his deputy. 

“Where is Kashim Shettima, his vice? Why will they not endorse President Tinubu and Kashim Shettima at the same time to continue in 2027? What is the reason behind why they will not mention Kashim for the second time as a Tinubu vice?” Chillariye queries.

“I want to draw the attention of the Northeast in general. What are they doing? This Kashim is our son, and all that they assigned him to do, he did it very well, and if some part of the country will endorse Tinubu alone to continue, why, we in the Northeast, would not come out and say Kashim Shettima should continue with Tinubu?” he said.

He appealed to northeast stakeholders. What are they doing? We are hearing rumors that they will drop Kashim Shettima in 2027. Despite that, we are not sure of it, but if it is true, what is his fault or what offense did he commit? Let the northeast know that this Kashim is our son. We must show to the world that we want Kashim to continue together with his boss Tinubu in 2027.

Chillariye revealed that, since this party is our own, we wouldn’t reject it, and we would not allow any party to defeat our great party, APC. We will try our best to see that it wins the presidential seat. So why would we not show him our solidarity to continue with him in the 2027 election?

“Anything meant for the Northeast, they will say we should not do it. Are we not a part of Nigeria, or are we foreigners? In fact, we are original Nigerians, and we know some of them are from Niger. We are advising the party, and we thank the national chairman of the party for saying openly that Kashim will continue with Tinubu.

Alhaji Adamu Abdu Chillariye maintained that if the South-South says Tinubu should continue, the Northwest will say Tinubu should continue, so why in the Northeast would we not say Kashim and Tinubu should continue together? Therefore, I use this medium to continue with the propaganda for this campaign before the Northeast stakeholders to sit and assure the world that Kashim Shettima should continue with Tinubu.

“Kashim Shettima is the most loyal vice president, and since they started together, let’s allow them to complete their second term together, and what we need from our people now is support and prayers, because some people are supporting their own. Why would we not support our own, please?” Chillariye added.

Why is the northeast being sidelined in a party like APC? – Chillariye

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