Nigeria’s Economy: Reject IMF, World Bank Recommendations – Falana Tells Tinubu

Right lawyer Femi Falana (SAN), has advised President Bola Tinubu to reject the recommendations of the International Monetary Fund (IMF) and of the World Bank, arguing that their policies and recommendations have never helped any nation to develop.

Naija News recalls that the World Bank and IMF had repeatedly asked President Tinubu’s government to phase out fuel Subsidy to help grow the country’s economy.

The financial institutions have predicted that the moves will help revive the country’s deteriorating economy. However, since the removal of fuel subsidy, Nigerians have continued to suffer the ripple effect of the decision as it has adversely affected the prices of commodities across the nation.

Calling on Tinubu to reject IMF, World Bank recommendations, Falana while speaking on Channels TV’s Politics Today said, “The right thing to do is to reject the prescriptions of the IMF and the World Bank; remove fuel subsidy, float your currency and so on and so forth which have never assisted any country to develop.”

Borno, Adamawa, Others Risk Severe Food Crisis – World Bank Warns

Due to high levels of instability and military conflicts that have lowered living conditions throughout the northern region, the World Bank has warned that seven states in the country’s northwest and northeast may experience food crises.

In its most recent report on food security, the bank predicted that most of West and Central Africa will continue to have minimal food insecurity through May 2024.

Naija News reports that the forecast coincides with the government’s plans to cultivate 323,000 hectares of farmland during the 2024 dry season, which will produce wheat, rice, maize, and cassava.

Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara states are the states the bank has predicted to be severly affected by food insecurity.