Nigeria Labour Congress (NLC) has urged the International Monetary Fund (IMF) and the World Bank to reconsider their policy advisories, labelling them as ‘insincere’ and detrimental to Nigeria’s situation.
Gatekeepers News reports that NLC President Joe Ajaaero stated this in a statement issued on Sunday amid recent comments from Abebe Selassie, the IMF’s African Region Director.
Selassie characterised the Nigerian government’s decision to remove the fuel subsidy as a domestic concern during a press conference at the IMF and the World Bank Annual Meetings in Washington, DC.
The NLC criticised the IMF for distancing itself from government policies that have contributed to the hardships faced by the Nigerian populace. The congress emphasises the need for more supportive and genuine engagement from international financial institutions.
“The IMF seems to be distancing itself from the future backlash of these policies, but Nigerians are not naive; we recognise the destructive effects of its harmful strategies on Nigeria and Africa,” the union stated.
According to NLC, “The IMF’s denial of involvement in Nigeria’s subsidy removal seems insincere, given its history of recommending similar austerity measures.
“We hope our economic leaders recognise that when crises occur, the IMF and World Bank will distance themselves, leaving the government to bear the burden”.
“We urge the World Bank and the IMF to stop stifling our nation so we can breathe freely. They have become a significant challenge for us, and we may soon be compelled to demand their complete withdrawal from Nigeria, as their policies consistently undermine our economy and sabotage both the people and the nation,” the NLC stated.
