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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
News
Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable
Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable
By: Michael Mike
Human rights and anti-poverty organisation, ActionAid Nigeria, has called for the immediate impeachment of any governor found guilty of using state resources to fund political campaigns ahead of the 2027 general elections.
The organisation made the demand in a statement issued on Tuesday in Abuja by its Country Director, Andrew Mamedu, following growing public concerns over alleged movement of huge sums of money by some political actors for campaign-related activities.
ActionAid Nigeria said the allegations have raised serious questions about the source of the funds allegedly being deployed for political mobilisation and consolidation of power ahead of the next election cycle.
Mamedu described the reports as disturbing and unacceptable, especially at a period when millions of Nigerians are grappling with economic hardship, rising inflation, insecurity, unemployment and worsening living conditions.
According to him, it would amount to a grave abuse of public trust if state resources meant for governance and development were diverted for partisan political purposes.
“It is appalling that at a time when Nigeria is drowning in debt, workers are struggling with the rising cost of living, public hospitals are underfunded, schools are collapsing, insecurity is spreading, and millions of Nigerians are battling hunger and extreme economic hardship, that any suggestion of public resources are being diverted or deployed for political campaigns,” he stated.
The organisation stressed that governors were elected to serve the people and not to convert state resources into what it described as “political war chests.”
ActionAid Nigeria challenged governors and political actors allegedly linked to the claims to publicly explain the source of the funds being used for political activities, insisting that Nigerians deserve transparency and accountability.
The group further urged anti-corruption agencies, including the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, as well as State Houses of Assembly, to commence immediate investigations into the allegations.
According to the organisation, any governor found culpable should face impeachment, prosecution and recovery of diverted public funds.
“Any governor who diverts public resources for political campaigns has violated public trust and abused the mandate given to them by citizens. Such individuals should not remain in office,” Mamedu said.
He warned that unchecked misuse of public resources could weaken democratic institutions and create an unfair political environment where incumbents enjoy undue advantage over other contestants.
The organisation also noted that while political parties have the right to organise campaigns and raise lawful support, such activities must not involve public funds, government assets or state institutions.
ActionAid Nigeria cited countries such as the United Kingdom, United States, Canada, Germany and South Africa as examples where strict accountability measures exist to prevent incumbents from using state resources for partisan political activities.
The organisation called on citizens, civil society groups, journalists, whistleblowers and anti-corruption advocates to remain vigilant and expose any suspicious use of public resources for political purposes ahead of the 2027 elections.
ActionAid Nigeria maintained that safeguarding democracy and protecting public resources must remain a collective responsibility of both institutions and citizens.
Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable
News
Execution Discipline Will Define Tegbe’s Agenda for Nigeria’s Power Sector-
Execution Discipline Will Define Tegbe’s Agenda for Nigeria’s Power Sector-
By: Adeola Labzy
When the Minister-Designate for Power, Joseph Olasunkanmi Tegbe, told the Nigerian Senate that there was “no quick fix” to Nigeria’s electricity crisis, the statement stood out for departing from the familiar rhetoric that has long shaped public conversations about the sector. In a country where ambitious declarations on power reform have often generated headlines faster than measurable outcomes, Tegbe’s remarks offered an early signal of a different leadership posture, one anchored less on spectacle and more on execution.
This matters because Nigeria’s power sector has spent decades trapped in cycles of overpromising and institutional under-delivery. Successive reform efforts have come with bold projections, aggressive timelines, and repeated assurances. Yet the sector continues to struggle with liquidity constraints, weak market confidence, transmission vulnerabilities, collection inefficiencies, infrastructure deficits, and operational instability. Over time, the deeper casualty has not only been electricity supply, but institutional credibility.
Against that background, Tegbe’s emphasis on transparency, execution discipline, and operational realism should be read as a useful starting point, not a completed achievement. Nigeria’s electricity market does not suffer from a shortage of reform language. The problems are already well known to policymakers, operators, investors, regulators, and consumers. What has consistently undermined progress is fragmented implementation, weak accountability, poor coordination across the value chain, and the absence of sustained commercial discipline.
In that sense, Tegbe’s early posture appears calibrated toward restoring confidence in the system’s ability to execute before pursuing grand transformation narratives. This is particularly important in a sector where investor confidence, market liquidity, and operational stability are deeply interconnected. Markets respond not merely to ambition, but to predictability, governance credibility, and measurable execution. Each part of the value chain affects the other. Generation without evacuation capacity creates waste. Tariff reform without metering creates distrust. Investment without payment discipline weakens confidence. Policy statements without visible milestones deepen cynicism.
Financial sustainability will be one of the defining pillars of any credible reform effort. For years, the electricity market has operated within a fragile commercial structure marked by accumulated debts, subsidy pressures, payment shortfalls, collection gaps, and uncertainty over cost recovery. The long-term viability of the sector depends not only on expanding infrastructure, but on restoring commercial discipline and rebuilding confidence in the market itself.
This is where transparency becomes strategically important. Transparent reforms reduce uncertainty, strengthen accountability, and give investors, operators, consumers, and policymakers a clearer basis for judging progress. In practical terms, transparency is not merely a governance principle; it is an economic stabilisation tool. It can help rebuild trust in tariff decisions, improve confidence in sector data, and create a more disciplined environment for investment and performance monitoring.
Equally important is execution discipline. Infrastructure projects rarely fail only because funding is unavailable. Many fail because coordination weakens, procurement becomes opaque, implementation drifts, and accountability is diluted. In the power sector, credibility will not be rebuilt by rhetoric alone. It will require visible, measurable, and sustained improvements in the operating system of reform.
Nigeria’s power sector does not require another cycle of exaggerated optimism followed by institutional disappointment. It requires leadership capable of confronting difficult realities honestly while building a credible pathway toward operational stability, financial sustainability, and long-term reform credibility.
That is why Tegbe’s insistence on transparent reforms and execution discipline is important. Its significance will not lie in the statement itself, but in whether it becomes a governing method. In a sector where credibility has become almost as scarce as stable electricity, restoring confidence in governance may be the first and most important reform of all.
Adeola Labzy writes from Abuja, Nigeria.
Execution Discipline Will Define Tegbe’s Agenda for Nigeria’s Power Sector-
News
Troops Intervene in Farmer-Herder Clash in Riyom, Recover 37 Sheep
Troops Intervene in Farmer-Herder Clash in Riyom, Recover 37 Sheep
By: Zagazola Makama
Troops of Operation Enduring Peace (OPEP) have intervened in a farmer-herder clash in Riyom Local Government Area of Plateau State, rescuing the injured parties and securing livestock pending peaceful resolution of the dispute.

Security sources Zagazola Makama that the incident occurred at about 2:00 p.m. on May 11 at Potok Fongon village in Ganawuri District of Riyom LGA.
The sources said troops of Sector 6 OPEP deployed at Ganawuri responded swiftly following reports of a clash between a farmer, Mr Fon Gehgeh, and a herder, Mr Usman Iliyasu, over alleged grazing on farmland.

According to the sources, troops arrived at the scene and found both men with varying degrees of injuries sustained during the altercation.

The victims were immediately evacuated to the Primary Health Centre in Ganawuri for medical treatment.

The troops also recovered 37 sheep belonging to the herder and moved them to a safe location pending amicable settlement of the dispute by relevant authorities and community leaders.

Security officials said efforts were ongoing to ensure peaceful resolution of the matter and prevent escalation of tensions within the community.
Troops Intervene in Farmer-Herder Clash in Riyom, Recover 37 Sheep
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