The Arewa Think Tank (ATT) has condemned the International Monetary Fund (IMF) and World Bank for criticising President Bola Tinubu’s policies. 

It accuses the institutions of distracting the president from delivering beneficial reforms for Nigeria’s citizens.

In a statement issued on Wednesday, ATT’s convener, Muhammad Alhaji Yakubu, said IMF policies have failed to bring about positive change in Nigeria’s economy over the years.

Yakubu expressed disapproval of the IMF’s stance, arguing that the institution’s track record shows it has not improved Nigeria’s economic conditions.

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“If you see the IMF saying that Nigeria is working, it means the country is working against its citizens. Nigeria should not take these IMF people seriously. It is because they have noticed that President Tinubu’s policies are working seriously, that is why they want to discourage him and distract him,” he said.

Yakubu aligned with former Chief of Staff to President Muhammadu Buhari, Prof. Ibrahim Agboola Gambari, who stated that years of economic prescriptions from the IMF and World Bank have failed to advance Nigeria’s economy. He also recalled Nigeria’s rejection of IMF and World Bank policies in the 1980s, advocating for African nations to develop their solutions and institutions.

The ATT emphasised the importance of strengthening regional institutions like the African Union (AU), ECOWAS, and the African Development Bank (AfDB) to achieve progress. Yakubu pointed to the successes achieved under Tinubu’s Renewed Hope Agenda in sectors such as politics, oil, gas, business, and the environment, all of which have thrived without IMF or World Bank assistance.

ATT urged President Tinubu to ignore external pressures and continue prioritising policies that will benefit Nigerians, despite foreign criticism.