Former Senator Shehu Sani has criticized the World Bank’s advice to President Bola Tinubu’s government, calling for increased taxes, fuel price hikes, and the removal of subsidies, despite the alarming poverty situation affecting over 104 million Nigerians.
The World Bank, in its report, acknowledged that a substantial number of Nigerians were living below the poverty line, yet it advocated for higher taxes, fuel prices, and the withdrawal of subsidies in various sectors.
Expressing his discontent with the World Bank’s stance, Sani condemned the detachment of the institution’s leaders, who view the economy as a mere chess game without considering the impact on individuals and their families.
He likened Nigeria’s situation to carefully handling a grenade, cautioning against the World Bank’s call to remove the pin, indicating the risks of exacerbating chaos in the country.
Sani questioned the World Bank’s stance, given Nigeria’s ongoing security challenges, highlighting the potential consequences if the country further descended into turmoil.
In his words, Sani stated, “The World Bank is insouciantly telling Our Nigerian Government to raise taxes, withdraw subsidies on everything and just increase the price of PMS known as petrol.
“It’s the same World Bank that alerted about poverty levels rising to 104 million out of a population of 223 million, as a result of the rise in the cost of living brought about by the economic reforms.
“The World Bank kingpins comfortably sit in their office and think of the economy as a game of Chess and not about people, their families and their lives.
“At present, the Government is managing a Grenade with care and now telling it to remove the pin. Where would the World Bank be if the country is plunged into further chaos in a nation currently battling with security challenges?”
