A popular economist and former President of the Council of Chartered Institute of Bankers, Prof Segun Ajibola, has warned President Bola Ahmed Tinubu’s administration to be careful about economic prescriptions from the International Monetary Fund and the World Bank.
Ajibola disclosed this to DAILY POST on Monday.
His reaction comes amid the IMF’s recent advice to the Federal Government to raise taxes to tackle fiscal challenges.
However, Prof Ajibola warned that the Federal Government must thoroughly evaluate the prescriptions of the IMF.
According to him, the IMF or World Bank’s prescriptions for Nigeria hardly consider the welfare and peculiarities of developing countries.
“The IMF and the World Bank prescriptions need to be evaluated whenever such are advised to Nigeria. This is because such prescriptions hardly recognise the welfare conditions of the citizens of countries in the developing world,” he said.