Assets Sale: NLC Accuses FG Of Bowing To IMF


The Nigeria Labour
Congress (NLC) has accused the federal government of seeking to implement the International Monetary Fund’s (IMF) recommended policy and condition on the sale of national assets.
In a statement signed by the NLC President Comrade Ayuba Wabba on Wednesday ands made available to The Tidesport said that the step being taken by the federal government was part of the policy and conditions given to the government by the IMF when its president visited Nigeria recently.
Wabba said that the IMF came with the idea to devalue the naira, remove subsidy and sell some strategic assets, stressing that the same conditions were given to the country in 1984 and that eventually led to the policy and implementation of the Structural Adjustment Programme (SAP).
He said that IMF recommended policy and conditions have never worked in any African country and therefore cannot work now in Nigeria.
The congress President said that many countries today have been doing well in managing their wealth without necessarily implementing recommended IMF policies, stressing that the difference is in the attitude of the leaders.
The NLC boss said that the congress would mobilise a team of lawyers to challenge the call for the sale of the strategic assets.
He reminded the country’s leaders that adopting and accepting IMF policies would drag the country back to the era of the SAP and plunge the country into a bigger economic crisis.