October 28th, 2024
The International Monetary Fund and the World Bank have been slammed by the Nigeria Labour Congress to desist from stiffening Nigeria with its policy advisories.
The NLC president described the policies as ‘insincere’ which had brought hardship on the nation and its people, while making the statement on Sunday.
The statement, however, comes as a reaction to a statement attributed to the IMF’s African Region Director, Abebe Selassie, during a press conference at the IMF and the World Bank Annual Meetings in Washington, DC, dening fuel subsidy removal.
“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.