News
ActionAid Nigeria Describes IMF, World Bank Promoters of Bad Economy Policies
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
Crime
Festac DPO, CSP Matilda Ngbanoyen, dies during medical treatment in Lagos
Festac DPO, CSP Matilda Ngbanoyen, dies during medical treatment in Lagos
By: Zagazola Makama
The Lagos State Police Command has announced the death of the Divisional Police Officer (DPO) of Festac Division, CSP Matilda Ngbanoyen, who passed away while receiving medical treatment in Lagos.
The incident occurred on Oct. 24, 2025, at about 11:30 p.m., when the officer reportedly died at the Mayriamville Medical Centre, Bode Thomas, Surulere, during a medical session for fibroid treatment.
Following the report, a delegation from the Command visited the hospital to confirm the development and make necessary arrangements.
“The corpse was evacuated to a public morgue for preservation and autopsy,”sources said.
The Command said arrangements were underway, in collaboration with the late officer’s family, to accord her a befitting burial.
CSP Ngbanoyen was described as a dedicated and disciplined officer who served the Nigeria Police Force with commitment and professionalism.
The Command expressed condolences to her family, colleagues, and friends over the tragic loss.
Festac DPO, CSP Matilda Ngbanoyen, dies during medical treatment in Lagos
News
Widower mourns slain nurse wife in Maiduguri
Widower mourns slain nurse wife in Maiduguri
By: Zagazola Makama
Hamza Ibrahim Idris, a bereaved husband in Maiduguri, Borno, has paid a touching tribute to his late wife, Nurse Hadiza Musa, who was allegedly murdered by suspected phone snatchers.
In a heartfelt message titled “Ga Masoyiyata Nurse Hadiza Musa”, the widower expressed deep sorrow over the death of his wife, describing her as a virtuous woman, devoted mother, and compassionate health worker who dedicated her life to saving others.
“It’s been three days since my heart has burned with the pain of losing my wife, my life partner, Nurse Hadiza Musa, who was killed in cold blood by those who snatched her phone,” he wrote.
“She was not just a wife she was my confidant, the mother of my three children, and the other half of my soul. We lived in love, understanding and mutual support, building dreams and hoping to grow old together. But now, that dream has been shattered,” he said.
The grieving husband described Hadiza as a woman of faith, humility and kindness who always put others first.
“As a nurse, she devoted her life to saving others with a smile and compassion. Yet, the life she saved was taken unjustly she died in faith and martyrdom,” he added.
He recounted the pain of their children’s repeated questions: “Daddy, where is Mommy?” a reminder, he said, of the irreplaceable void left by her death.
“Each time I hear those words, tears flow. In their faces, I see hers a woman of truth, love, and belief,” he said.
Offering prayers, he said: “Oh Allah, the Most Merciful, forgive her shortcomings, elevate her rank, grant her Aljanna Firdaus, bless her children, and give me strength and patience.”
He added that though Hadiza was gone, her love remained in his heart and prayers, expressing hope of reuniting with her in the hereafter “where there will be no pain, no tears, and no separation.”
“May Allah forgive and have mercy on my beloved wife, Nurse Hadiza Musa. May her grave be a garden of paradise. May He grant me patience and protect our children,” he concluded tearfully.
The incident, which occurred recently in Maiduguri, has sparked outrage among residents who have called for stronger security measures to curb rising cases of phone snatching and violent attacks in the city.
Widower mourns slain nurse wife in Maiduguri
News
Waidi Shuaibu: from Theartre Commander to Army Chief — chronicling a transformative leadership journey
Waidi Shuaibu: from Theartre Commander to Army Chief — chronicling a transformative leadership journey
By: Zagazola Makama
Maj.-Gen. Waidi Shuaibu’s appointment as the new Chief of Army Staff marks a significant milestone in Nigeria’s ongoing efforts to consolidate gains in the fight against insurgency and strengthen national security.
Before his elevation to the apex position in the Nigerian Army, Gen. Shuaibu served as Theatre Commander of Operation Hadin Kai (OPHK) in the North-East, where his 14-month tenure was defined by tactical innovation, operational success, and deep civil-military engagement. His leadership transformed the counter-insurgency landscape, restoring relative stability to vast areas once dominated by Boko Haram and ISWAP terrorists.
Upon assuming command of OPHK, Maj.-Gen. Shuaibu prioritized operational readiness, launching an extensive refurbishment of key military assets to boost troop morale and combat capability. He spearheaded the repair of vital armoured platforms, including ten VP1 Type 89 APCs, five BMPs, three Steyr APCs, and six Camel MRAPs, ensuring optimal deployment for the 2024 dry-season operations.
These efforts culminated in the historic deep-clearance operations into Sambisa Forest and the Tumbuktu Triangle in early 2024, which dealt devastating blows to terrorist hideouts, supply chains, and command structures. His coordinated offensive operations neutralized more than 567 terrorists and dismantled several high-value enemy enclaves between February 2024 and March 2025.
Under his leadership, the integration of air and ground components reached new heights. The Nigerian Air Force component executed over 230 sorties and 232 interdiction missions, clocking more than 567 flight hours, while the UAV Command carried out 760 ISR operations totaling 6,674 hours. These precision missions enhanced battlefield awareness, enabling ground troops to conduct over 9,800 patrols, 2,700 ambushes, and 990 clearance operations with high success rates.
Intelligence-led operations resulted in the arrest of 161 terrorist logisticians and the surrender of over 121,000 insurgents and their families — a remarkable milestone that shifted the dynamics of the North-East conflict toward peacebuilding and reintegration.
Maj.-Gen. Shuaibu’s counter-insurgency philosophy went beyond the battlefield. He introduced the Local Community Policing and Peace Enforcement (LCPPE) model in February 2024 — an initiative that deepened trust between the military and local communities. This approach paved the way for stabilization operations, including the resettlement of more than 4,000 internally displaced persons (IDPs) in Kukawa and other restored communities.
He also promoted civil-military cooperation through humanitarian and religious initiatives, including a Qur’anic Recitation Competition aimed at fostering moral resilience and unity among troops and civilians. Three participants were later sponsored for the Hajj pilgrimage — a gesture that reinforced goodwill and trust.
A hallmark of his tenure was the focus on infrastructure and troop welfare. He initiated the renovation and modernization of the Joint Task Force (North-East) Headquarters complex, constructed new escort and drivers’ lounges, refurbished soldiers’ accommodation, and built 30 two-bedroom community-based quarters for military families.
Additionally, the installation of long-range surveillance cameras in Monguno, Gajiram, and Kekeno enhanced operational intelligence and perimeter monitoring, further strengthening theatre-wide security.
Maj.-Gen. Shuaibu’s command period witnessed the elimination of several notorious terrorist leaders, including Tahir Baga and Abu Rijal, whose deaths crippled jihadist coordination and recruitment. His effective decapitation strategy was complemented by humanitarian outreach, leading to a steady return of normalcy in major population centres across Borno, Yobe, and Adamawa states.
In recognition of these achievements, the North-East Theatre under his command received the Security Watch Africa Award in December 2024 as the Most Outstanding Defence Command in Africa, underscoring the effectiveness of his leadership and innovation in asymmetric warfare.
Now as Chief of Army Staff, Gen. Waidi Shuaibu is expected to replicate his transformative approach on a national scale. Security analysts and defence watchers believe his deep operational experience and emphasis on community-driven stability will guide the Nigerian Army toward renewed efficiency and professionalism.
His appointment signals continuity, discipline, and modernization — values he consistently championed throughout his command. Stakeholders within defence and civil sectors alike express optimism that his era will usher in strategic reforms to fortify Nigeria’s military capabilities and accelerate victory against insecurity.
Maj.-Gen. Shuaibu’s rise from Theatre Commander to Army Chief embodies the success of merit, dedication, and results-oriented leadership, a journey rooted in courage, intellect, and an unyielding commitment to peace and stability in Nigeria.
Waidi Shuaibu: from Theartre Commander to Army Chief — chronicling a transformative leadership journey
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