Ajibola cautions Tinubu to exercise extreme caution with regard to the economic prescriptions of the IMF and the World Bank

Prof. Segun Ajibola, a well-known economist and a former president of the Council of Chartered Institute of Bankers, has cautioned the administration of President Bola Ahmed Tinubu to be wary of the economic prescriptions that come from the International Monetary Fund and the World Bank.

On Monday, Ajibola shared this information with gospelcable.

His response comes in the wake of the International Monetary Fund’s (IMF’s) recent recommendation that the Federal Government boost taxes in order to address the nation’s growing fiscal issues.

Nevertheless, Professor Ajibola issued a warning that the Federal Government needs to carefully assess the recommendations made by the IMF.

According to him, the recommendations made by the IMF and the World Bank for Nigeria do not take into account the welfare of developing countries or the specific challenges they face.

“Whenever the World Bank and the International Monetary Fund make recommendations to Nigeria, those recommendations need to be assessed. According to what he had to say, the reason for this is that such recommendations “barely recognize the welfare conditions of the citizens of countries in the developing world.”