₦airaland Forum

Former INEC Chairman, Professor Attahiru Jega, has cautioned the Nigerian government against uncritically adopting policy advice from the International Monetary Fund (IMF) and the World Bank.

Speaking at the 2024 Annual Directors’ Conference organised by the Chartered Institute of Directors of Nigeria (CIoD), Jega highlighted the importance of selective engagement with these institutions, warning that unquestioned compliance could create “greater medium and longer-term problems.”

“While it’s beneficial to engage with institutions like the World Bank and IMF, we must not swallow what they bring to us hook, line, and sinker,” Jega stressed, urging for thoughtful evaluation of their recommendations.

The conference, themed ‘Good Governance as a Catalyst for Economic Recovery, Growth, and Development,’ also saw Jega advocate for a more robust leadership recruitment process.

He remarked, “The major challenge facing Nigeria is that many leaders are unprepared for leadership,” underscoring the need for a leadership reform to drive sustainable economic growth.

His statements follow public scrutiny of recent economic measures, such as the removal of fuel subsidies and naira floatation, which are perceived as IMF—and World Bank-inspired policies.

However, the IMF’s African Region Director, Abebe Selassie, clarified that President Tinubu made the decision to remove the fuel subsidy domestically, emphasising that the IMF’s role in Nigeria is primarily consultative.

Jega encouraged a shift towards “People-oriented development processes,” urging Nigerians to prioritise democratic governance and critically assess external advice to secure the country’s economic future.

Source : https://politicsnigeria.com/jega-to-tinubu-dont-do-everything-imf-world-bank-tells-you/

Wisdomkosi:
Former INEC Chairman, Professor Attahiru Jega, has cautioned the Nigerian government against uncritically adopting policy advice from the International Monetary Fund (IMF) and the World Bank.
Speaking at the 2024 Annual Directors’ Conference organised by the Chartered Institute of Directors of Nigeria (CIoD), Jega highlighted the importance of selective engagement with these institutions, warning that unquestioned compliance could create “greater medium and longer-term problems.”
“While it’s beneficial to engage with institutions like the World Bank and IMF, we must not swallow what they bring to us hook, line, and sinker,” Jega stressed, urging for thoughtful evaluation of their recommendations.
The conference, themed ‘Good Governance as a Catalyst for Economic Recovery, Growth, and Development,’ also saw Jega advocate for a more robust leadership recruitment process.
He remarked, “The major challenge facing Nigeria is that many leaders are unprepared for leadership,” underscoring the need for a leadership reform to drive sustainable economic growth.

Jega should shut the hell up.

What has Tinubu's announcement that fuel subsidy was gone— an announcement we now know was a scam by the way— and the floating of the Naira — yes, he floated the naira even though he now claims the naira was devalued, a lie—, both responsible for much of the damage to the economy today, got to do with IMF?

What Nigeria needs is sanity and returning to implementing(and sustaining) many of the same reforms the Obasanjo administration did— tried, tested, and proven solutions —, all of them IMF suggested reforms, is what Nigeria needs from its government.

Should he be told that those institutions are imperial hulks for Western countries?

The US took China to court because their currency was down and was giving them an advantage in foreign trade but in Africa, they want us to depreciate our currency because we are a consuming nation.

Hehehe! The famed first class certificate forger cum druggie of an accountant has no clue of what it means to run an economy but has to wait for the disastrous dictate of the oppressive IMF(devaluation of the naira, impulsive/jerky subsidy removal, contraction of the economy with satanic policy somersaults ) who goaded him on and then turned around to deny him.

LadyExcellency:
Should he be told that those institutions are imperial hulks for Western countries.

He knows because the IMF does not dictate economic policies for the US, Britain or France.

Black is a big curse to black.

Will you borrow am loan?

https://www.youtube.com/watch?v=lZkTGIHtYXU?si=83_2ldobq3qPIXk7

Racoon:
He knows because the IMF does not dictate economic policies for the US, Britain or France.

Because they don't need to.

And the reason is because those countries got rich from making goods and services the world needs.

The UK did have to take instructions from the imf though in the late 1970s. Economic crisis

Noted

Same goats who pitch Nigerians against PDP and GEJ are at it again. What if the IMF and WB tell him the right thing to do? He should go the other way as a way of absolving the calamity this goat helped stamp his mandate. IMF and WB advices are spot on 99.9% of the time. It is our demonic structure and mindset that is leaving us in reverse progress.

He didnt see wastages by govt to criticize it is IMF and WB he is talking dust about. All the dormant airport built with loans are IMF's fault. All the subsidy of Hajj is IMF doing. All the looting and corruption is WB. Foolish goat.

nairalanda1:
■ Because they don't need to. And the reason is because those countries got rich from making goods and services the world needs. The UK did have to take instructions from the imf though in the late 1970s. Economic crisis

Many of the same reforms suggested by the IMF/World Bank have already been implemented — tried, tested, and proven policies —in the US, UK, and much of the developed world. They don't need the advice since they already implement and sustain many of these same policies.

Take for instance the many Safety Net Programs in the U.S.A. A huge chunk of revenue generated from taxation each year goes to funding numerous safety net programs for the masses.

Person wey someone teach bad things and he gree do am, forget, him self get bad things for mind before.

which kind talk be this na, calling the president mumu with all his first class in accounting.

Wetin MANDATE Barawo no go do to please the Almighty West who owns the whole world 🌎 in their hands

k

Kobojunkie:
Jega should shut the hell up.

What has Tinubu's announcement that fuel subsidy was gone— an announcement we now know was a scam by the way— and the floating of the Naira — yes, he floated the naira even though he now claims the naira was devalued, a lie—, both responsible for much of the damage to the economy today, got to do with IMF?

What Nigeria needs is sanity and returning to implementing(and sustaining) many of the same reforms the Obasanjo administration did— tried, tested, and proven solutions —, all of them IMF suggested reforms, is what Nigeria needs from its government.

You have been running around the forum supporting the IMF and the world bank with their evil and devilish conditionalities that are responsible for turning Nigerians inside out over the last year.

You try to deflect by making it look like the atrocious decisions of this president, have no imprints from these dangerous Brentwood organisations. You gaslight and misrepresent facts.

Looks like you're hired to do this, because your desperation to stand facts on their heads, while ignoring the jarring effects of these policies on the people of Nigeria, is suspicious

MadPolitician:
✓ .. You gaslight and misrepresent facts.
✓ Looks like you're hired to do this, because your desperation to stand facts on their heads, while ignoring the jarring effects of these policies on the people of Nigeria, is suspicious

1. How exactly did I gaslight and misrepresent the facts? Be specific please!

2. My desperation comes from the fact that I do not wish to see the same scam played against Nigerians a second time around. I lived through IBB regime which did absolutely nothing to better the lives of Nigerians (Government embezzled billions of dollars while Nigerians suffered immensely), and when they cried out, they were told to blame it all on some foreign entity called the IMF and even the USA as well.i never understood what that whole was until years later when I was able to look into wyat happened during all of that time...why my family had to go from being very comfortable to having to manage and suffer even because Government said IMF did this and that. Through research, I was able to piece together what really happened, why the claims made by the government never made sense to begin with. I came to realize the fraud that IBB played on Nigerians who were generally gullible even at that time.

I don't get paid to debunk these lies Tinubu and co are loading up against the Nigerian people less than 30 years after it's first play. I do it because I don't like watching people suffer in ignorance.