Former Chief of Staff to ex-President Muhammadu Buhari, Professor Ibrahim Gambari, has urged the administration of President Bola Tinubu to tailor policies adopted from the International Monetary Fund (IMF) and World Bank to better serve Nigeria’s needs.
Speaking on *Inside Sources* with Laolu Akande on Channels Television, Gambari emphasized that while these institutions are development partners, Nigeria’s policies must prioritize the welfare of its citizens.
“Every country must take its destiny into its hands,” Gambari stated, adding that Nigeria is not obligated to fully adhere to IMF or World Bank recommendations if they adversely affect the populace.
Since the removal of petrol subsidies and the floating of the naira under Tinubu’s administration, Nigeria has faced soaring inflation and a severe cost-of-living crisis. Petrol prices have skyrocketed from under N200 to over N1,100 per litre, and the naira has plunged from N700/$ to around N1,700.
Gambari warned of potential social unrest if living conditions continue to deteriorate. “We’ve been lucky Nigerians don’t demand much, but there could be a breaking point. We must act before it leads to a revolution,” he cautioned.
He called for a revision of Bretton Woods-influenced policies to align with Nigeria’s unique economic and social challenges. “Nigeria is the only country we can call our own, and we have a responsibility to salvage it together,” Gambari concluded.
