Labour faults IMF’s fuel subsidy advice to Nigerian government

THE Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have faulted the International Monetary Fund (IMF)”s recent fuel subsidy advice to the Federal Government.

The IMF had, in a publication titled ‘Nigeria: Selected issues paper report’,’ advised the Federal Government to remove fuel subsidy, noting that payment of subsidies had a negative impact on the country’s fiscal position.

Reacting to the development, Deputy National President of the NLC Joe Ajaero noted that the IMF had severally misled Nigeria in the past.

Ajaero said the IMF did not mean well for Nigerians.

He said, “The truth is that the IMF does not pretend to work for the masses and the workers. The IMF is for the establishment.

“There is no country partnering with the IMF that has survived by its advise. The recent history of Greece and other places is a clear testimony for anybody who wants to take the advise of the IMF.”

Ajaero added that Nigeria was not truly independent.

“This is another level of colonialism and if you look at the evolution of economic development, you will see that the continued subjugation of our economy to the dictates of this institution (IMF) shows that we are not economically independent,” he said.

Also reacting to the IMF report, National Deputy President of the TUC and National President of Association of Senior Civil Servants of Nigeria Tommy Etim said the Federal Government must consider the socio-economic implication of the IMF’s recommendations.

According to Etim, the IMF once misled Nigeria with the Structural Adjustment Programme (SAP), which he said the country had not recovered from.



    He added, “It is unfortunate that we are not looking at the economy from our cultural perspective. We are just looking at the economy from what is happening in other climes.

    “In 1985, that was how they misled us to adopt Structural Adjustment Programme which eventually led to the economic calamity we are facing today.

    “Nobody can dictate to you how to run your country. We must look inward. They have seen Nigeria as a dumping group for their economy.

    “Whatever policy they have, they bring it to the Nigerian economy and we have fallen prey because of what they call aid. These are things that have perpetually kept Nigeria where we are.”

    Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

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