Femi Falana (SAN), the renowned human rights lawyer, has cautioned President Bola Ahmad Tinubu’s administration against adopting the International Monetary Fund’s (IMF) programs and policies in Nigeria. Falana criticized the IMF as an imperialist institution designed to exploit developing countries’ economies.
Speaking recently on the widely circulated interview program “Politics Today,” Falana highlighted the withdrawal of petroleum subsidies and electricity tariff increases as measures instructed by the IMF, causing hardship for Nigerians. He emphasized the necessity for government subsidies to foster economic growth, citing examples from Europe and America.
Falana urged Nigerians to demand the government reject IMF programs and policies, stressing that no country operates without some form of government subsidy. He criticized the IMF’s hypocritical approach, noting its contradictory advice to developed and developing countries, which exacerbates hardships for the latter.
Questioning why Nigeria’s economic decisions are influenced by the IMF rather than the National Economic Council, composed of elected representatives, Falana emphasized the ideological battle against institutions designed to undermine developing economies.
He called on the IMF to prioritize investigating the whereabouts of the $3 billion reported missing by the Auditor General of the Federation, instead of pressuring Nigeria to further burden its citizens.
