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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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NANS Declares Monday Protest Over Abducted Oyo Students

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NANS Declares Monday Protest Over Abducted Oyo Students

NANS Declares Monday Protest Over Abducted Oyo Students

IBADAN, Nigeria – The National Association of Nigerian Students (NANS) has announced plans to stage a solidarity protest in Oyo State following the abduction of dozens of students and teachers in Oriire Local Government Area, as the victims mark 14 days in captivity without rescue. NANS President, Comrade Akinteye Babatunde Afeez, disclosed this in a statement issued on Friday, saying the association had begun mobilising its members and allied groups across the country for what he described as a major advocacy movement against insecurity and the continued captivity of the victims. The protest is expected to hold on Monday, June 1, 2026, in Ibadan, the Oyo State capital.

Akinteye said the action became necessary after the victims spent two weeks in captivity without rescue efforts yielding results. He described the situation as painful and unacceptable, insisting that Nigerian students would no longer remain silent while pupils and teachers remained in the hands of kidnappers. According to him, the rally will involve visits to schools affected by the attack, including Community High School/Grammar School, Ahoro-Esiele; L.A. Primary School, Ahoro-Esiele; and Yawota Baptist Nursery and Primary School. The NANS leadership also plans to visit the Oyo State Commissioner of Police and the Director of the Department of State Services during the protest. After the visits, students and activists are expected to embark on a peaceful walk within Ibadan to demand stronger security measures and immediate rescue operations.

“I write at this critical and defining juncture to invite all NANS structures, sister unions, stakeholders, and leaders to a solidarity movement in Oyo State. This solidarity movement is premised on the continuous hostage situation involving our students and teachers following the gruesome and inhumane attack in Oriire Local Government Area. It has been two weeks since this cruel act was perpetrated, and it is appalling that, till this day, the abducted students and teachers are yet to be rescued. At this critical crossroads, silence is no longer golden; we must act decisively and forthwith,” Akinteye stated.

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The abduction occurred after heavily armed gunmen invaded Community High School, Ahoro-Esiele, and Yawota Baptist Nursery and Primary School in Oriire Local Government Area on May 15, 2026. During the attack, seven teachers and 39 students were reportedly kidnapped by the assailants. A teacher identified as Michael Oyedokun was said to have been killed during the invasion, while a two-year-old child, Christianah Akanbi, was also abducted alongside the victims. Further reports indicate that an assistant headmaster, Joel Adesiyan (also identified as Adesiyan Adegboye) , and a commercial motorcyclist were also killed during the attacks. Governor Makinde later confirmed that seven students were abducted from Community Secondary School, while 18 children and seven teachers were kidnapped from First Baptist Primary and Nursery School. The Oyo State Government subsequently ordered the closure of schools in four local government areas as security agencies intensified rescue operations.

Following the attack, the Inspector-General of Police, Olatunji Rilwan Disu, visited the affected communities in Oriire Local Government Area on May 16, 2026. During the visit, the IGP expressed deep concern over the incident and extended heartfelt condolences to the families of those who lost their lives. He met with the Commissioner of Police of the Oyo State Command, Abimbola Ayodeji Olugbenga, alongside other security stakeholders, where he received detailed operational briefings on ongoing rescue efforts and security deployments across the affected communities. The IGP assured residents, parents, and guardians that the Nigeria Police Force, in collaboration with other security agencies, has intensified a well-coordinated search-and-rescue operation, intelligence gathering, and tactical deployments aimed at securing the safe return of all abducted victims. He further directed the deployment of additional tactical and intelligence assets to reinforce ongoing operations within the area and adjoining forests. Accompanying the IGP were the Commissioner of Police, Kwara State Command, Ojo Adekimi, due to the strategic proximity of the Oriire axis to border communities in Kwara State, as well as the Commissioner of Police, Schools Protection Squad, Abayomi Shogunle.

Governor Seyi Makinde, while addressing journalists at his Kolapo Ishola residence in Ibadan on May 18, 2026, confirmed the government’s readiness to listen to the demands of the abductors to secure the safe release of the victims. He, however, maintained that while the government would not capitulate to criminal elements, it remained open to dialogue to save the victims. “To the group, all I can say is that as a government, we will not give in to terror. We will do everything to ensure that our children and their teachers are returned safely. Whatever it is they demand, we are ready to listen to them and address the ones that we can address as a state government. But the children and their teachers must be released,” Makinde stated. The governor disclosed that the government had established an operational centre at the state Police Headquarters to coordinate information relating to the rescue mission. He described the security situation as “fluid and difficult” and appealed to journalists and the public to avoid sensationalising the incident, noting that lives were at stake. In a later message marking the dual celebration of Eid-el-Kabir and National Children’s Day on May 27, 2026, Makinde expressed solidarity with the affected families. “As we mark this year’s Eid and Children’s Day, our thoughts are with every family awaiting the return of their loved ones, and with security agencies working to keep our communities safe. We are working to ensure the safe return of those who were kidnapped in Oriire LGA. May this holy season fill our State with peace,” the governor wrote on his official X handle.

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Reports indicate that the suspected terrorists who abducted the schoolchildren and teachers have opened communication channels with the state government. However, it remains unclear whether any engagement is being conducted directly by the governor or through intermediaries acting on behalf of the administration. Authorities have not officially confirmed the structure or status of any negotiations.

The Oyo State Police Command has confirmed that the abducted students, pupils, and teachers are yet to be released, dismissing reports circulating on social media claiming that the victims have been rescued. In a statement issued on May 22, 2026, the Command’s Police Public Relations Officer, DSP Ayanlade Olayinka, described such reports as false and misleading. “The Oyo State Police Command wishes to inform the general public that the abducted students, pupils, and teachers in Orire Local Government Area are yet to be released, as intensive efforts by security agencies continue to ensure their safe rescue and the arrest of those responsible for the criminal act. The Command hereby debunks the rumour currently circulating that the victims have been rescued,” the statement read. The police urged members of the public to remain calm, support the ongoing efforts of the joint security team, and verify every piece of information before sharing it, warning that the spread of fake news and misinformation creates unnecessary panic, heightens tension, and diverts limited security resources critically needed for ongoing operations.

In a tragic development, it was confirmed that one of the abducted teachers, Michael Oyedokun, was beheaded while in captivity. The family of the late teacher described his death as a devastating and irreplaceable loss, lamenting that he died childless after more than 10 years of marriage. The attack also claimed the lives of assistant headmaster, Joel Adesiyan, and a commercial motorcyclist.

In a separate development, the leadership of NANS, South-West Zone D, on Friday called on Nigerian First Lady, Oluremi Tinubu, to use her state visit to Ekiti to influence the immediate release of the kidnapped teachers and students. In a statement issued by the Coordinator of NANS South-West Zone D, Kayode Adeyemo, in Ibadan, the association lamented that the incident had left families of abductees devastated, communities traumatized, and many Nigerians anxiously awaiting the safe return of the victims. The statement read in part: “NANS South-West remains deeply concerned about the continued captivity of abducted students and teachers following the tragic attack on schools in Oriire Local Government Area of Oyo State. The incident has left families devastated, communities traumatised, and many Nigerians anxiously awaiting the safe return of the victims. We acknowledge the efforts already being undertaken by security agencies and relevant authorities. Nevertheless, the gravity of the situation demands sustained attention and intensified action until every victim is safely reunited with their families.” NANS urged the Federal Government to continue prioritising the security of students nationwide, insisting that the safety of Nigerian students must remain a national priority. The student body also called on security agencies to intensify rescue efforts and ensure those responsible for the attack are brought to justice. NANS appealed to civil society organisations, student leaders, and concerned Nigerians to join the demonstration and put pressure on authorities to tackle the worsening insecurity affecting schools and communities.

NANS Declares Monday Protest Over Abducted Oyo Students

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Xenophobia: 105 Nigerians Killed in South Africa in 7 Years

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Xenophobia: 105 Nigerians Killed in South Africa in 7 Years

Xenophobia: 105 Nigerians Killed in South Africa in 7 Years

The Nigerian community in South Africa has raised fresh concerns over the safety of Nigerians living in the country, revealing that no fewer than 105 Nigerians have been killed in the last seven years amid recurring xenophobic violence and attacks on migrants . Leaders of the community said the deaths were linked to mob attacks, shootings, alleged police brutality, vigilante violence, and other unresolved incidents involving foreign nationals .

The concerns were contained in a statement jointly signed by Smart Nwobi of the Nigerian Union South Africa (NUSA) and Frank Onyekwelu of the Nigerian Citizens Association South Africa (NICASA) . The group was reacting to reports credited to South Africa’s Department of International Relations and Cooperation (DIRCO) , which reportedly suggested that migrants were not being deliberately targeted or killed in the country . However, the Nigerian community strongly rejected the claim, insisting that several incidents involving Nigerians had either been ignored or downplayed over the years .

“Denying or minimising the concerns raised by migrant communities risks discouraging victims and witnesses from reporting abuses and undermines efforts toward justice, reconciliation, and social cohesion,” the statement said . The community noted that Nigerians have allegedly been victims of fatal mob attacks, extrajudicial killings, unlawful shootings, violent raids, and deaths in police custody . It stated that community records and reports gathered from civil society groups, media publications, and migrant associations showed disturbing patterns of violence against Nigerians between 2019 and 2026 .

The statement recalled that in 2019, several Nigerian-owned businesses, vehicles, and shops were destroyed during widespread xenophobic unrest in Johannesburg and other areas, with at least 12 Nigerians losing their lives during the attacks through mob violence and brutal assaults . It added that in 2022, over 17 Nigerians reportedly died in separate incidents involving criminal attacks, alleged security brutality, and vigilante-style killings . The Nigerian community further claimed that more than 40 Nigerians lost their lives in 2023 alone under what it described as “troubling and unresolved circumstances,” ranging from mob violence to alleged police misconduct and violent confrontations that were never fully investigated .

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The group also disclosed that eight Nigerians reportedly died in 2024, while another eight deaths were recorded in 2025 through shootings, violent clashes, and incidents in police custody . Most alarmingly, from January 2026 to date, the community claimed that over 20 Nigerians had allegedly died during encounters involving security operatives, criminal gangs, and suspected extrajudicial actions . While acknowledging that some investigations were ongoing, the Nigerian community expressed dissatisfaction over what it described as the absence of accountability and justice in many of the cases, stating that the failure to secure prosecutions or transparent outcomes had increased fear and anxiety among Nigerians and other migrants living in South Africa .

“It is important to emphasise that our position is not intended to undermine South Africa’s democratic institutions, law enforcement agencies, or judicial system,” the statement added . The community also acknowledged that many South Africans continued to support peaceful coexistence and reject xenophobia . Despite this, the group urged the South African government to take stronger steps to protect the lives and rights of all residents, regardless of nationality or immigration status, and called for transparent and impartial investigations into all reported cases involving violent attacks, deaths in custody, and alleged extrajudicial killings .

The latest concerns come just weeks after the Nigerian government demanded investigations into the deaths of two Nigerians, Amaramiro Emmanuel and Ekpenyong Andrew, who were allegedly assaulted by security personnel in South Africa . In response to the escalating crisis, the Federal Government summoned South Africa’s Acting High Commissioner to Nigeria, Lesoli Machele, for urgent talks following renewed unrest . The Nigerian government also began making arrangements for the voluntary evacuation of its citizens from South Africa, with 130 citizens already registered for repatriation as of early May 2026, a number expected to rise .

The National Assembly has also condemned the xenophobic attacks, with the Senate resolving to send a high-level delegation led by Senate President Godswill Akpabio to South Africa to find lasting solutions to the crisis . The House of Representatives called for a review of bilateral relations, including the possible suspension of business permits for South African companies operating in Nigeria and temporary restrictions on trade and aviation agreements . Lawmakers further demanded that the Ministry of Foreign Affairs establish a round-the-clock emergency help desk and a legal support fund for Nigerians affected by the attacks .

Diplomatic pressure on South Africa is mounting as more African countries threaten retaliatory measures over renewed xenophobic attacks targeting foreign nationals . While no government has officially announced a total closure of borders, threats of blockades, trade suspensions, and heightened security checks are gaining traction across the region in what analysts describe as the most serious diplomatic fallout since the end of apartheid . Neighbouring states such as Lesotho, Zimbabwe, and Mozambique, which account for the majority of South Africa’s migrant population, are on high alert, with many citizens seeking to return home as tensions escalate .

Ghana has also summoned South Africa’s acting High Commissioner, Thando Dalamba, to protest the harassment and intimidation of Ghanaian citizens after viral videos surfaced showing a Ghanaian man in KwaZulu-Natal being confronted by a vigilante group and ordered to leave the country . Nigeria’s government, beyond immediate evacuations, is leveraging regional and bilateral channels to press Pretoria for lasting solutions, with officials reminding South Africa of Nigeria’s significant sacrifices during the anti-apartheid struggle and arguing that the current hostility betrays the solidarity that defined the liberation era .

South Africa’s DIRCO has rejected accusations that the country is xenophobic, describing recent incidents involving foreign nationals as isolated while reaffirming openness to diplomatic engagement . DIRCO Minister Ronald Lamola has engaged counterparts from several African countries, including Ghana and Nigeria, to brief them on developments and reaffirm South Africa’s commitment to protecting the rights of all people living in the country . The department dismissed social media claims that Ghanaian and Nigerian nationals had been killed during recent protests, saying there was “no credible evidence” to support such allegations .

Lamola stated that law enforcement agencies had been instructed to ensure the safety of citizens, residents, and visitors, and to hold perpetrators accountable in accordance with the law . He also noted that South Africa was reviewing its immigration policy framework to better address migration challenges and remained open to “continued diplomatic engagement and constructive dialogue” with African countries on issues of mutual concern . “South Africa will continue to lead with a Pan-African heart,” Lamola said . “Our commitment is to solidarity, the rule of law, and the safety of all who reside within our borders. Migration must be managed through cooperation, compassion and continental responsibility” .

According to DIRCO, about 3 million migrants currently reside in South Africa, approximately 90 percent of whom are from other African countries . The government acknowledged that migration pressures, unemployment, and irregular migration had at times contributed to tensions between local communities and foreign nationals . South African authorities have condemned the attacks as criminal and unlawful, with President Cyril Ramaphosa stating that no one has the right to take the law into their hands . However, with over 118 Nigerians reportedly killed in xenophobic incidents between 2015 and 2026, the Nigerian government insists that rhetoric must now be matched with action .

The Nigerian community urged South African authorities to intensify efforts to protect the lives and rights of all residents, irrespective of nationality or immigration status . It also called for thorough, transparent, and impartial investigations into all reported cases involving violent attacks, deaths in custody, and alleged extrajudicial killings . The group further urged authorities to strengthen measures against xenophobic violence, vigilantism, mob justice, and unlawful conduct by individuals or security personnel, while promoting community dialogue, social integration, and public education to discourage hatred, stereotyping, and violence against foreign nationals .

“No society can thrive where fear, mob justice, or unlawful violence become normalised,” the statement said . “Everyone remains innocent in the eyes of the law until proven guilty in a competent court of justice. We firmly believe that both South Africans and foreign nationals deserve equal protection under the law” . The Nigerian community said it remained committed to peaceful coexistence and constructive engagement with South African authorities in pursuit of a safer society .

Xenophobia: 105 Nigerians Killed in South Africa in 7 Years

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NAHCON Chairman Orders Refunds for Nigerian Pilgrims Over Substandard Meals

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NAHCON Chairman Orders Refunds for Nigerian Pilgrims Over Substandard Meals
Chairman of the National Hajj Commission of Nigeria (NAHCON), Ambassador Ismail Abba Yusuf

NAHCON Chairman Orders Refunds for Nigerian Pilgrims Over Substandard Meals

Mina, Saudi Arabia – The Chairman of the National Hajj Commission of Nigeria (NAHCON), Ambassador Ismail Abba Yusuf, has expressed strong displeasure and rejected substandard meals served to Nigerian pilgrims in Saudi Arabia, citing violations of health and packaging regulations. In a statement issued by the commission’s management, NAHCON confirmed that the affected meals were dinner servings on the night of Tuesday, May 27, 2026, in Mina. The meals were immediately rejected in collaboration with Saudi health officials.

According to NAHCON, Saudi health authorities have been enforcing strict food safety standards during the ongoing Hajj operations, especially due to prevailing weather conditions in the Kingdom. The rejected meals failed to meet required handling and packaging protocols. To cushion the impact on affected pilgrims, the service support company provided alternative light refreshments. Meanwhile, NAHCON board members visited state officials and managers to brief them on the development.

Ambassador Yusuf has directed the commission’s security committee to immediately investigate the caterers involved in the substandard meal incident, as well as those who facilitated the contracts. The commission warned that any operator found culpable will face sanctions, including withdrawal of operating licenses. In addition, NAHCON has commenced arrangements for immediate refunds to pilgrims affected by the poor meal quality.

The NAHCON chairman also ordered a separate investigation into some tour operators accused of bringing in more pilgrims than they officially registered and allegedly exploiting unsuspecting pilgrims during the Hajj exercise. The commission warned that any operator found guilty would face severe penalties, including license withdrawal.

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The incident comes amid a massive food safety enforcement campaign by Saudi authorities. Reports indicate that the Saudi Ministry of Municipalities and Housing has conducted over 29,000 health and food safety inspections during the 1447 AH Hajj season, including testing more than 5,000 food samples through mobile and fixed laboratories. Authorities have confirmed that no cases of food poisoning have been recorded during the current Hajj season so far.

In a separate development, NAHCON confirmed that two Nigerian pilgrims are currently missing while performing this year’s rituals. They were identified as Muhammad Muhammad (Passport No. B05062275) and Ibrahim Iliyasu (Passport No. B05062278). Both pilgrims, from Sokoto State, were reported missing at Muzdalifah, where over 1.7 million pilgrims spent the night. Efforts are ongoing to locate them, NAHCON said.

Despite the challenges, NAHCON appreciated the understanding of the pilgrims and reassured all of its continued commitment to their welfare and safety throughout the Hajj period. “NAHCON appreciates the understanding of the pilgrims and reassures all of its continued commitment to their welfare throughout the Hajj exercise,” the statement concluded.

NAHCON Chairman Orders Refunds for Nigerian Pilgrims Over Substandard Meals

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