The Nigeria Labour Congress (NLC) has called on the International Monetary Fund (IMF) and the World Bank to stop imposing policy recommendations that are perceived as harmful to Nigeria's economy.
In a statement released on Sunday, the NLC President criticized the global financial institutions for their "insincere" advisories, which, according to the union, contribute to economic challenges facing the country.
The labor union's stance reflects ongoing discontent with international economic prescriptions that often influence Nigeria’s policy decisions.
This comes amid a statement attributed to the IMF’s African Region Director, Abebe Selassie, during a press conference at the IMF and the World Bank Annual Meetings in Washington, DC, that characterized the Nigerian government’s decision to remove the fuel subsidy as a domestic issue.
However, NLC faulted the IMF for distancing itself from the policies of the Nigerian government, which had brought hardship to the nation and its people.
“The IMF seems to be distancing itself from the future backlash of these policies, but Nigerians are not naive; we recognize the destructive effects of its harmful strategies on Nigeria and Africa,” the union stated.