The pan-Yoruba socio-political group, Afenifere, has urged the administration of President Bola Tinubu to exercise caution in adopting the recent recommendations made by the World Bank regarding Nigeria’s economic policies. This follows comments made by World Bank Senior Vice President Indermit Gill at the Nigerian Economic Summit Group (NESG) meeting in Abuja, where he suggested the government reduce support for social services and continue the naira’s floating, with the benefits only expected to manifest in 10 to 15 years.
Afenifere’s National Publicity Secretary, Jare Ajayi, responded by advising the government to approach such recommendations critically. He highlighted the delayed benefits of these policies and warned that Tinubu’s administration could be remembered solely for the hardships faced by Nigerians, while future administrations might enjoy the rewards.
Ajayi emphasized the need for policies that support local businesses and reduce dependence on imported goods, pointing out that many countries, like Mexico, Ghana, and Argentina, have suffered by following similar advice from the World Bank and IMF. He urged the government to focus on local solutions rather than relying on international prescriptions that may not suit Nigeria’s unique economic challenges.
