HURIWA Slams Tinubu For Subjecting Nigeria’s Sovereignty To IMF, World Bank

The Human Rights Writers Association of Nigeria (HURIWA) has condemned President Bola Tinubu over the recent economic policies, stating he has surrendered Nigeria’s sovereignty to the International Monetary Fund (IMF) and the World Bank.

HURIWA, in a press statement, condemned President Tinubu in what it termed a “dramatic policy shift”, which contradicts his previous stance against similar policies under former President Goodluck Jonathan.

HURIWA recalled that before ascending to the Presidency, Tinubu was a vocal critic of the International Monetary Fund (IMF) and World Bank’s economic prescriptions.

According to the group, during Jonathan’s administration, Tinubu and other prominent figures, including former president Muhammadu Buhari, fiercely opposed the IMF and World Bank’s recommendations, such as the removal of subsidies and the devaluation of the Naira, arguing that these policies would harm Nigeria’s economic stability and undermine the nation’s sovereignty.

However, since taking office, Tinubu has adopted and intensified these very policies, leading to accusations of hypocrisy from various quarters,” HURIWA noted.

“Critics have criticised Tinubu for this reversal, labelling it a betrayal of his earlier principles. According to them, Tinubu’s current endorsement of the IMF and World Bank measures, which he previously opposed, represents a significant departure from his earlier stance and effectively compromises Nigeria’s economic independence,” HURIWA stated.

HURIWA further argued that by aligning Nigeria’s economic strategy with foreign interests, the current administration is ceding control over the country’s financial system to external forces, stressing that this shift not only diminishes the nation’s economic autonomy but also places Nigeria at the mercy of international economic pressures.

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Mayowa Durosinmi

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M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

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