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IMF, World Bank remedies can’t revive Nigerian economy – Don

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IMF, World Bank remedies can’t revive Nigerian economy – Don

The chairman, Board of Trustees (BOT) of the Centre for Transparency Advocacy, Dr. Chima Amadi, yesterday said economic remedies from the International Monetary Fund (IMF) and the World Bank cannot revive the Nigerian economy.

He also said the policies of the two international financial institutions may not be able to raise 200 million Nigerians out of poverty.

He asked the nation to look beyond ideas being imposed by developed countries.

He said developing countries should have the autonomy to choose policies that best suit their conditions.

Amadi, who made the submissions at the 4th National Colloquium in Sokoto, said the nation’s high inflation rate was indefensible.

He said: “Compared with other African and Asian countries, especially Indonesia, which is comparable to Nigeria in most respects, economic development in Nigeria has been disappointing.

“With GDP of about $45 billion in 2001 and per capita income of about $300 a year, Nigeria has become one of the poorest countries in the world. As of 2000 it had earned about $300 billion from oil exports since the mid-1970s, but its per capita income was 20 percent lower than in 1975.

“Meanwhile, the country has become so heavily indebted – external and domestic debt amount to about 70 percent of GDP— that it has serious difficulty servicing debts. Regional and sectoral unevenness in growth performance is high.

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“From the foregoing, it is simply clear that to raise 200 million Nigerians out of poverty as this current administration has resolved to do within the next decade, it would take more than just making it a campaign mantra but a radical departure from economic orthodoxy of the Global North evinced in the Washington Consensus model.”

Amadi, who is a doctoral fellow at the University of Warwick in the UK, said economic growth strategies recommended by developed countries for developing nations are unworkable.

He said the developed countries had been promoting  strategies which they had never practiced.

He added:” Historical context of development shows that many of today’s developed countries such as the United Kingdom and the United States achieved economic growth through strategies like tariffs, subsidies and regulations to protect their nascent industries. This historical perspective contrasts sharply with the free-market liberalisation policies they now promote for developing countries.

“The neoliberal policies advocated by institutions like the World Bank and the International Monetary Fund (IMF) such as rapid liberalisation of trade and investment, privatization and deregulation are not consistent with the historical experiences of successful development.

“In fact, these policies might even hinder the growth of developing nations by exposing them prematurely to global competition,” he added.

He said the federal government should adopt subsidies and other forms of intervention to save the economy.

Amadi said: “The state must play a significant role in guiding economic development similar to the way it was utilised by now-developed countries during their own developmental stages.

“This includes the use of tariffs, subsidies and other forms of government intervention to support budding industries. Shall we forget hastily how former president Donald Trump used tariffs to effectively protect the American economy from the onslaught of the Chinese trade practices?

“Developing countries should have the autonomy to choose policies that best suit their unique economic conditions and developmental stages. This contrasts with the one-size-fits-all approach often prescribed by international economic organizations.

“By providing this historical and critical analysis, I dare Nigeria’s leaders and economic policymakers to not be afraid to challenge conventional economic wisdom and call for a more nuanced and historically informed approach to economic development policy, especially for developing countries.

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“There is now an urgent need for policy diversity and experimentation, making it incumbent on policymakers to acknowledge that strategies successful in one country may not be universally applicable.”

On the nation’s high inflation rate, Amadi blamed it on over-reliance on oil revenue.

He added; “Inflation in Nigeria has been a complex and challenging issue throughout its history. The nation’s heavy reliance on oil revenues, inadequate diversification of the economy, policy mismanagement, and global economic dynamics have all played significant roles in shaping inflation trends.

“Before Nigeria gained independence in 1960, the country’s inflation rate was relatively low, primarily due to its agrarian economy and limited industrialization.

“ The 1970s marked a period of rapid economic growth fueled by oil exports, which led to a significant increase in government revenue. However, this period also witnessed rising inflationary pressures as the influx of petrodollars and increased government spending drove consumer demand and importation.

“The 1970s oil boom brought immense wealth to Nigeria, but it also led to economic imbalances. The nation became heavily reliant on oil exports, leading to a neglect of other sectors and creating vulnerabilities to oil price fluctuations.

“In the late 1970s and early 1980s, Nigeria experienced double-digit inflation, soaring to a peak of over 23% in 1984. The government’s mismanagement of fiscal policies and its inability to diversify the economy contributed to this inflation surge.”

IMF, World Bank remedies can’t revive Nigerian economy – Don

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Reps drop own State Police bill, adopt Tinubu’s version in major constitutional reform

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Reps drop own State Police bill, adopt Tinubu's version in major constitutional reform

Reps drop own State Police bill, adopt Tinubu’s version in major constitutional reform

The House of Representatives has resolved to withdraw its earlier State Police Bill and adopt the Executive Bill transmitted by President Bola Tinubu, marking a significant shift in the National Assembly’s ongoing efforts to reform Nigeria’s security architecture through constitutional amendment.

Speaker of the House, Tajudeen Abbas, announced the decision on Tuesday while declaring open the 2026 National Assembly Open Week in Abuja. He explained that the Executive Bill is “more robust and more comprehensive” than the version previously passed by the House.

The decision effectively halts plans to harmonise the House and Senate versions of the earlier proposal, with lawmakers now set to begin fresh legislative consideration of the President’s bill.

Abbas said the Executive Bill incorporates additional constitutional safeguards developed by a presidential committee chaired by the President’s Chief of Staff and former Speaker of the House, Femi Gbajabiamila.

According to the Speaker, Nigeria’s growing security challenges have underscored the urgent need for a decentralised policing system.

“The deeper lesson is that a nation of this magnitude cannot be policed in perpetuity from a single command in Abuja,” Abbas said.

He noted that although the House had already passed its own State Police proposal through the Constitution Review Committee led by Deputy Speaker Benjamin Kalu, lawmakers would now recall that version to allow the Executive Bill to take precedence.

“I am able to share a development that speaks to the seriousness with which this administration regards the safety of Nigerians. His Excellency the President has now transmitted to the National Assembly an Executive version of the State Police Bill, one that is more robust and more comprehensive than the version this House earlier passed,” Abbas stated.

He assured Nigerians that the legislation would receive expedited consideration because of its importance to national security.

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Responding to concerns that the proposal could be rushed through the National Assembly, Abbas insisted that the bill would undergo a transparent legislative process, including public hearings and stakeholder engagement.

He assured Nigerians that the proposed framework contains robust constitutional safeguards designed to prevent abuse of state police by governors or other political actors.

According to him, states will only be allowed to establish their own police services after meeting strict constitutional requirements relating to accountability, operational capacity, funding and respect for fundamental human rights.

“There will be accountability, the protection of fundamental human rights, and firm boundaries between federal and state authority, so that no state police force may ever be reduced to the private instrument of a governor,” he said.

Abbas also invited Nigerians, civil society organisations and security experts to participate in the public hearing process by submitting memoranda before the bill is passed into law.

President Tinubu, in a letter dated June 15, 2026, formally transmitted the Constitution of the Federal Republic of Nigeria (Alteration) (State Police) Bill, 2026 to both chambers of the National Assembly, urging lawmakers to accord it expedited consideration.

The President said the proposed legislation would create a constitutional framework for establishing State Police Services to complement the Nigeria Police Force in tackling the country’s worsening security challenges.

According to Tinubu, the bill builds on the constitutional amendment work already carried out by the House of Representatives while introducing additional safeguards recommended by a presidential committee established to review the framework for decentralised policing.

“The proposed legislation is a critical component of our administration’s strategy to reorganise Nigeria’s security architecture to better protect our citizens,” the President wrote.

The Executive Bill is expected to establish a dual policing structure, allowing both federal and state police institutions to operate within clearly defined constitutional responsibilities.

While State Police would primarily handle local law enforcement and community policing, the Federal Government would retain authority over national security matters such as terrorism, border protection, organised crime, intelligence coordination and other offences with nationwide implications.

For more than two decades, successive administrations, state governors, constitutional lawyers, security experts and civil society organisations have advocated the creation of State Police, arguing that Nigeria’s centrally controlled policing system has become overstretched.

Supporters believe decentralised policing would strengthen intelligence gathering, improve emergency response, deepen community policing and enable quicker responses to banditry, kidnapping, terrorism, communal clashes and other violent crimes.

The debate has intensified in recent years following the emergence of regional security outfits such as Amotekun in the South-West, Ebube Agu in parts of the South-East and several state-backed vigilante organisations established to complement federal security agencies.

However, critics have consistently warned that state police could be misused by governors to intimidate political opponents or interfere in elections if adequate constitutional safeguards are not entrenched.

To address those concerns, the Executive Bill reportedly includes stronger accountability measures, stricter oversight mechanisms and constitutional conditions that states must satisfy before establishing their own police services.

Importantly, the proposed amendment does not compel every state to establish a police force immediately. Instead, eligible states would be required to meet clearly defined constitutional standards before creating their own policing institutions.

The proposed constitutional amendment must secure the support of two-thirds of members of both the Senate and the House of Representatives before proceeding to the 36 State Houses of Assembly.

Under Section 9 of the 1999 Constitution, at least 24 state legislatures must approve the amendment before it can be transmitted to the President for assent.

With the House now aligning with the Executive proposal, attention is expected to shift to public hearings, stakeholder consultations and detailed legislative scrutiny of what could become the most far-reaching reform of Nigeria’s internal security system since the country’s return to democratic rule in 1999.

Reps drop own State Police bill, adopt Tinubu’s version in major constitutional reform

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FG to train 18,510 Nigerians under Renewed Hope Vocational and Skills Training Programme — Doro

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FG to train 18,510 Nigerians under Renewed Hope Vocational and Skills Training Programme — Doro
Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro

FG to train 18,510 Nigerians under Renewed Hope Vocational and Skills Training Programme — Doro

The Federal Government has launched the Renewed Hope Vocational and Skills Training Programme (VSTP), an initiative that will equip 18,510 Nigerians across the 36 states and the Federal Capital Territory (FCT) with practical vocational and entrepreneurial skills aimed at boosting employment, promoting self-reliance and reducing poverty.

The programme, a flagship intervention of the National Social Investment Programme Agency (NSIPA) under the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is part of the Tinubu administration’s Renewed Hope Agenda, which seeks to empower vulnerable Nigerians through sustainable economic opportunities rather than short-term relief measures.

Speaking during the official launch of the programme at the Government Technical College, Area 3, Garki, Abuja, the Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, described the initiative as a strategic investment in Nigeria’s human capital and a critical step toward creating long-term livelihoods.

According to a statement issued by the Minister’s Senior Technical Adviser on Information Systems and Data Analysis, Dr Abimbola Fasanu, the vocational training programme is designed to provide beneficiaries with practical skills that will improve their employability and prepare them to establish successful businesses.

“This programme is more than a training exercise; it is a strategic investment in Nigeria’s future. Under the Renewed Hope Agenda of President Bola Ahmed Tinubu, we are moving from palliatives to pathways by equipping Nigerians with practical skills that create opportunities, restore dignity and build lasting prosperity,” Doro said.

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The minister explained that the initiative forms part of the ministry’s broader One Humanitarian–One Poverty Response System (OHOPRS), a reform framework created to integrate humanitarian assistance, social protection and poverty reduction interventions into a single coordinated national strategy.

According to him, linking the programme with the National Social Investment Programme ensures that beneficiaries receive support beyond classroom training through entrepreneurship development, cooperative structures, access to business opportunities and pathways that encourage long-term economic independence.

The two-week intensive training programme combines technical vocational education with entrepreneurship and business management, enabling participants to acquire practical skills and the knowledge required to start and sustain profitable enterprises.

To ensure participants can immediately put their new skills into practice, the Federal Government will provide every beneficiary with a starter pack tailored to his or her selected vocational trade upon successful completion of the programme.

Beneficiaries will receive practical training in 14 high-demand vocational trades, including Automobile Technology, Agricultural Technology (Agric-Tech), Baking and Confectionery, Carpentry, Catering and Cookery, Electrical Installation, Housekeeping, Jewellery and Bead Making, Masonry, Plumbing, Welding and Fabrication, Sewing and Fashion Design, Grinding Operations, and Vulcanising.

Doro said the government’s objective extends beyond issuing certificates, stressing that the real success of the programme would be measured by the number of businesses created, jobs generated and families lifted out of poverty.

“Our vision is to see today’s trainee become tomorrow’s entrepreneur, employer and contributor to national development. This is how we will build resilience, reduce poverty and create inclusive economic growth for Nigerians,” he said.

He commended the National Social Investment Programme Agency (NSIPA), vocational training providers, development partners and private sector organisations supporting the initiative, urging them to ensure quality training, effective monitoring and sustained mentorship for beneficiaries after graduation.

The minister reaffirmed the Federal Government’s commitment to implementing reforms that empower Nigerians through practical skills development, entrepreneurship and sustainable livelihood opportunities in line with President Tinubu’s economic reform agenda.

The launch of the programme comes amid intensified government efforts to address youth unemployment, poverty and economic inequality through expanded social investment initiatives. Recent reforms have focused on strengthening transparency, digital verification, monitoring and accountability across the country’s social intervention programmes.

Development experts have consistently identified technical and vocational education as one of the most effective tools for reducing unemployment and stimulating economic growth, particularly among young people. By combining vocational training with entrepreneurship support, business starter packs and post-training assistance, the programme aims to help beneficiaries establish viable businesses, create jobs and contribute to local economic development.

Government officials said implementation of the programme would be closely monitored to ensure beneficiaries complete their training, receive their starter packs and gain continued support needed to build sustainable enterprises capable of improving household incomes and strengthening Nigeria’s economy.

FG to train 18,510 Nigerians under Renewed Hope Vocational and Skills Training Programme — Doro

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These Hands Can Build the World: Reframing Nigeria’s Youth Bulge

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These Hands Can Build the World: Reframing Nigeria’s Youth Bulge

These Hands Can Build the World: Reframing Nigeria’s Youth Bulge

A four-part series

Omobola Lana, Strategic Advisor Adara Foundation

Part 1: The Paradox of Two Plagues

The global economy is currently wrestling with two seemingly unrelated crises. Across Europe, and North America, factories, energy grids, and construction sites are stalling because there simply aren’t enough young hands to pick up the tools. An aging demographic and a decades-long societal push away from vocational education have left developed nations with a staggering structural deficit. Across Europe, the mathematics of the talent pipeline are broken: for every new apprentice entering the skilled trades, nearly three veteran professionals are retiring. The European Construction Industry Federation (FIEC) estimates a staggering deficit of 2.1 million construction and technical workers across EU member states.

Meanwhile, here in Nigeria, the crisis is perfectly inverted.

Nigeria is home to one of the youngest populations in the world, with nearly 60% of our population under the age of 25. Yet, according to data from the International Labour Organization and local economic metrics, youth unemployment and underemployment remain stubbornly high, leaving millions of energetic, capable minds trapped in low-paying, informal survivalist jobs.

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For decades, domestic policymakers and international observers have viewed Nigeria’s young population with anxiety, routinely branding it a ticking sociological time bomb. But this perspective suffers from economic short-sightedness. What the world treats as an isolated demographic problem could actually be the missing puzzle piece to a global labor crisis. Nigeria’s youth bulge is not a burden; it can be the ultimate supply-side solution to the global trade skills deficit.

The mismatch between global demand and Nigerian labor supply persists because our educational institutions are still preparing youth for a domestic corporate market that cannot absorb them, while ignoring a ravenous global market that needs them. If we shift our perspective—viewing our massive youth population not as a liability to be pacified, but as a high-value human capital asset to be strategically developed—Nigeria can position its youth to build both the world’s infrastructure and, concurrently, its own.

The path forward requires looking beyond standard university degrees and tech bubbles. The world needs builders, technicians, and operators. And Nigeria has the raw human energy to supply them.

This is Part 1 of a four-part series. Stay tuned for the next edition as we continue the conversation on unlocking the potential of African youth.

About Adara Foundation

Adara Foundation empowers women and young people to contribute to Africa’s socio-economic development through education, skills training, funding support for small businesses, and the promotion of African arts and culture. Investing in the economic empowerment of women and youth is at the heart of our work. Since 2017, the Foundation has reached more than 22,700 beneficiaries through education, skills development, SME support, financial literacy, market access, health initiatives, and humanitarian support.

This article is part of the Foundation’s commitment to advancing conversations that inspire action and unlock the potential of the African youth.

Learn more at www.adarafoundation.org and follow Adara Foundation on Facebook (@Adara Foundation), Instagram (@adara_foundation), and LinkedIn (@Adara Foundation).

 

These Hands Can Build the World: Reframing Nigeria’s Youth Bulge

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