The recent remarks by World Bank Senior Vice President, Indermit Gill, advising Nigeria to sustain its economic reforms for the next 10 to 15 years have sparked significant outrage across the country. Many Nigerians see the advice as detached from the harsh realities they currently face due to the impact of government policies, especially those implemented under President Bola Tinubu’s administration.
Critics, including prominent voices like historian Prof. Moses Ochonu and civil society organizations like ActionAid Nigeria, argue that these reforms disproportionately harm ordinary citizens while benefiting a privileged elite. Ochonu describes the situation as a “ticking incendiary device” of hardship, warning that continued suffering could lead to social unrest. Similarly, ActionAid points out that previous World Bank interventions, such as the Structural Adjustment Programme (SAP) in the 1980s, have had devastating consequences for Nigeria’s economy, particularly in sectors like textiles, and have deepened poverty.
Voices from different regions and sectors, including Niger Delta activists and academics, echo similar concerns. They argue that the World Bank’s advice prioritizes foreign interests and perpetuates economic dependence, leaving Nigerians with little hope of relief. Many are calling for President Tinubu to rethink his government’s alignment with World Bank policies and instead focus on more people-centered reforms that address immediate challenges like inflation, unemployment, and poverty.
On the other hand, there are some, like Elder Joseph Ambakederimo of the South-South Reawakening Group, who believe the reforms, though painful, are necessary to set the country on a sustainable economic path. However, the prevailing sentiment across the nation remains one of deep skepticism and fear that such long-term reforms will only lead to further hardship for the majority of Nigerians.
The intense reaction to Gill’s remarks highlights the deepening divide between the government’s economic agenda and the lived experiences of everyday Nigerians. As the country continues to face economic instability, the government’s ability to balance reform with immediate relief for its people will be crucial to its survival and long-term success.
