Senator Ali Ndume, representing Borno South, has accused politicians, the International Monetary Fund (IMF), and the World Bank of significantly contributing to Nigeria’s ongoing economic problems.
In an interview on Arise TV on Friday, Ndume warned that their actions are pushing the country toward a crisis similar to that of Venezuela.
Ndume’s comments reflect his criticism of both foreign economic policies and domestic political mismanagement, which he believes are exacerbating Nigeria’s financial difficulties.
He emphasized the importance of a more self-sufficient, locally driven approach to economic reforms, urging Nigerian leaders to focus on the country’s interests rather than external pressures.
He stated, “I think so. But you can go ahead, I am here. But let me tell you, this problem that we have in this country is self-inflicted. If you look at it deeply, you will see that the World Bank and the IMF are involved. They don’t need to be here for us.
“My fear is that they are deliberately driving us toward a Venezuela-like situation. Venezuela has the world’s largest oil reserves with a smaller population, around 30 million people. Yet, even now, people are suffering there.”
When reminded that the IMF wasn’t solely responsible for Venezuela’s situation and that internal politics played a role, Ndume responded, “You are saying that, but when we allow ourselves to be managed by people who don’t understand our environment or the challenges we face, then we’re getting it wrong.”
