NewStats: 3,261,393 , 8,173,885 topics. Date: Thursday, 29 May 2025 at 06:45 AM 5i2h4w

In this week's Saturday Tribune column, I analyze the World Bank's callous statement on Monday that for Nigeria to achieve prosperity it must continue its ongoing economic mass murder of its weakest citizens for at least 15 years:

The World Bank’s Senior Vice President by the name of Indermit Gill, who is originally Indian, incited mass panic in Nigeria on October 14 when he said Nigeria would need to sustain its current soul-sucking, agonizingly punishing, and self-destructive “reforms” for “at least another 10 to 15 years to transform its economy.”

Gill’s speech at the 30th Nigerian Economic Summit in Abuja which read partly like the smug, cloying, self-congratulatory bluster President Bola Tinubu would write and partly like the intentionally obfuscating gobbledygook of dubious experts who want to conceal the truth from the uninitiated elicited verbal and nonverbal expressions of fervent disapproval from the well-fed elites of the Nigerian Economic Summit Group and the Ministry of Budget and National Planning (who planned the event) when he said Nigeria must continue this path of national self-incineration “at least another 10 to 15 years.”

Gill was compelled to wonder aloud if the murmurs his callous exhortation triggered were a signal of disagreement or agreement from his audience. The camera zoomed in on people nodding discontentment or using their fingers to gesture disapproval. If he is smart, he would know the answer to his question.

But the soulless, blood-sucking economic vampire was unmoved. He insisted that enduring [b]“terrible hardship across the breadth of Nigerian society” (his words) as a consequence of the gutting of petrol subsidies is the only way to “become the engine of growth in sub-Saharan Africa.” “It is very difficult to do these things,” he said, “but the rewards are massive.” What massive rewards can come out of policies that take both lives and means of livelihood?[/b]

The phrase “at least” suggests that 10 to 15 years of piecemeal national mass immolation is the irreducible minimum required to achieve prosperity. That is, 10 to 15 years is the smallest possible national self-annihilation Nigeria has to endure to “transform its economy.” Since the least possible effort can’t always guarantee success, it means it would take more than 15 years (possibly 50 years or even eternity) to achieve prosperity through national mass annihilation.

Well, since President Tinubu can’t rule longer than seven more years (assuming he wins a second term in 2027), the World Bank has effectively prepared the perfect, ready-made alibi to explain away the irrecoverable harm its loathsome and baleful prescriptions will visit on Nigeria in the next few years.Tinubu’s successor, whoever that may be, would be insane to continue with this mass obliteration of the populace they call “reforms.”

If he or she has brain cells in his or her skull and reverses this ruinous course, the World Bank would say, “Well, we told you that you needed to incinerate yourselves for at least 15 more years before you can have a chance at living. Since you brought yourselves back to life after only eight years of being in the burner, you are not sufficiently cooked, and we are not responsible for the burns and devastation that eight years of incineration brought to you. You see, you can only live if you burn yourselves alive, which you refused to do.”

This caricature might come across as grotesque and transgressive of the bounds of reasonableness, but it faithfully captures the logic of World Bank economic prescriptions for developing countries: you need to die before you can live. If not, how could anyone celebrate the democratization of privation? “The price of [petrol] has quintupled since the subsidy cuts, imposing terrible hardships across the breadth of Nigerian society,” Gill said with a triumphant tone.

Well, one of the unspoken, unacknowledged but nonetheless far-reaching consequences of the quintupling of petrol prices is the slow but sure death of what remained of Nigeria’s education. Because of the dire existential precarity that the unaccustomed and ceaseless hikes in petrol prices have caused, many children are dropping out of school like leaves abandoning a tree before the storm hits.

A National Assembly member told me a few days ago that a prominent emir in Northwest Nigeria confided in him that he was alarmed by the sheer number of young people who are dropping out of school (at all levels of education) in his traditional sphere of authority because parents can’t afford to feed, and they consider paying the school fees of their children a burden they can’t shoulder.

This tragedy, this conscienceless assassination of the future of our youth in the service of the World Bank, isn’t limited to the North. Two weeks ago, a close relative of mine who lives in the Southwest requested my assistance to pay the school fees of five children who were roaming the streets because they had been sent home from school for failure to pay their school fees.

Their father disappeared without a trace before he couldn’t cope. Their mother, a petty trader, manages to feed the children once in a day on a good day. But they used to get by before Tinubu’s “economic reforms” upended their lives.

We in the North are in a worse state because we are already behind the rest of the country in educational attainment. Now we are sliding even further as the sting of Tinubu’s World Bank-instigated “reforms” disrupts lives. When a “reform” rolls back gains in school enrollment and effectively jeopardizes the future of the youth and of the country, you have to wonder why you need to implement it for at least 10 to 15 years to “grow.” It’s like pulling bricks from the foundation of a house in the name of building a taller roof. What good can possibly come out of that?

What sort of “reform” contracts the economy, diminishes the productive sector, reduces the purchasing power of the people, reverses growth in education, and even kills people’s will to live? Tinubu has repeatedly assured Nigerians that the dark tunnel of his “reforms” will produce light during his presidency and that Nigerians only have to endure a temporary penance. But the World Bank, his puppeteer, has undercut his message. It says it will take at least 10 to 15 years of maintaining these “reforms,” which extend beyond the time he is constitutionally allowed to rule, to see any benefits.

In other words, Nigerians are condemned to unmitigated anguish and deprivation for a deferred benefit that will never come since Tinubu won’t be around for the next 10 to 15 years, and his “reforms” would probably ensure that Nigerians don’t elect another neoliberal World Bank/IMF flunkey who will tout mass starvation of the citizenry as praiseworthy “reform.”

And here’s the uncomfortable truth: history offers too many cautionary tales of developing nations that have followed this very same script, only to find themselves worse off. Argentina in the early 2000s, for instance, stood on the precipice of ruin after blindly swallowing the IMF’s bitter medicine. With a wild, neoliberal, anarchist wacko of a president called Javier Milei, Argentina is back in the pit of World Bank/IMF hell. Ecuador, too, suffered a devastating financial crisis when it adopted policies that hollowed out its middle class.

The World Bank and its cadre of international experts rarely for the peculiarities of each nation’s economic and social dynamics. What they offer is a one-size-fits-all solution that has often wreaked havoc on the most vulnerable. Then Nigeria is being told to trust this path, but development doesn’t emerge from policies that wipe out the middle class, impoverish the population, and render a nation’s currency barely worth the paper it’s printed on.

True development is rooted in fostering economic diversity, building local industry, and safeguarding the purchasing power of ordinary citizens. It’s about listening to the rhythm of the local economy and respecting its complexity, not bulldozing over it with a neoliberal agenda crafted in the halls of Washington.

No doubt, Nigeria’s economy has long needed repair. But it is one thing to call for reform and another to advocate for policies that feel like economic warfare on your own people. Tinubu may believe that this is a necessary sacrifice, but the logic of endless suffering in the name of eventual relief is deeply flawed. Countries do not develop by punishing their citizens into submission.

We must ask ourselves: how much longer can Nigeria afford to endure policies that erode its very foundation? For a nation whose citizens have weathered so many storms, the path forward must be built not on external dictates but on an understanding of Nigeria's unique strengths and vulnerabilities. And while the World Bank preaches patience from afar, Nigerians know better than most that promises of future prosperity mean little when the present is unbearable.

A leader worth following is one who understands this. A leader who places the needs of the people above the dictates of international financial institutions. Nigeria cannot afford to pay this price much longer, and Bola Tinubu's legacy may well rest on whether he is willing to listen to the cries of his people—or whether he will remain a distant echo of the world’s technocrats.

https://www.farooqkperogi.com/2024/10/world-banks-15-year-death-sentence-on.html

Kperogi has come again with his upside down analysis

Kperogi is an Atiku man who is still pained that Bola Ahmed Tinubu trashed his principal in the last presidential elections.
Kperogi has been attacking Nigerian government just because he hates the president. Kperogi is no different from 0BIDIENTS who have been tearing the country down just because their principal lost the presidential elections. Why cut nose face to spite your face. Both Atiku and Obi are still alive healthy and can contest in the next presidential elections. I wonder what country they would be contesting if we destroy Nigeria.

The same world bank of poverty that encourages Tinubu to continue his policies? Still the same world bank that is improverishing third world countries population with their brutal economic policies which the senseless corrupt leaders of these sorry nations often accept wholeheartedly without consideration.

You are borrowing them loans with neck-constricting conditions which you know they are looting with reckless abandon yet you are saying the same criminals should cut down their expenses? You are very wicked. And these devastating reforms are what agbadorian zombies and the world bank said will take Nigeria places? Make una continue to delude una self there.

I have said it here severally that whatever Tinubu is doing, it cannot be regarded as reforms. These are wicked and draconian policies set out to inflict pains and anguish on the citizens.

stuffs2002:
Kperogi has come again with his upside down analysis

"What sort of “reform” contracts the economy, diminishes the productive sector, reduces the purchasing power of the people, reverses growth in education, and even kills people’s will to live? Tinubu has repeatedly assured Nigerians that the dark tunnel of his “reforms” will produce light during his presidency and that Nigerians only have to endure a temporary penance.

But the World Bank, his puppeteer, has undercut his message. It says it will take at least 10 to 15 years of maintaining these “reforms,” which extend beyond the time he is constitutionally allowed to rule, to see any benefits. In other words, Nigerians are condemned to unmitigated anguish and deprivation for a deferred benefit that will never come since Tinubu won’t be around for the next 10 to 15 years, ......

Bobloco:
I have said it here severally that whatever Tinubu is doing, it cannot be regarded as reforms. These are wicked and draconian policies set out to inflict pains and anguish on the citizens.

The man is a taxman and taxman knows nothing than to continue make fortune from poor helpless population by milking milking, and milking them to feather his nest.

Racoon:


https://www.farooqkperogi.com/2024/10/world-banks-15-year-death-sentence-on.html

It seems you low obidients do search for horrible news all about on the internet

All this won't stop Tinubu from completing his 8 years

stuffs2002:
Kperogi has come again with his upside down analysis

Examine your current realities very well, then add 10 - 15 years to your age, and estimate how much success you might earn from your productive life in Nigeria. That's what makes the gravity of the issues under discourse more comprehensible to an agbado. SMH!

Racoon:

"What sort of “reform” contracts the economy, diminishes the productive sector, reduces the purchasing power of the people, reverses growth in education, and even kills people’s will to live? Tinubu has repeatedly assured Nigerians that the dark tunnel of his “reforms” will produce light during his presidency and that Nigerians only have to endure a temporary penance.

But the World Bank, his puppeteer, has undercut his message. It says it will take at least 10 to 15 years of maintaining these “reforms,” which extend beyond the time he is constitutionally allowed to rule, to see any benefits. In other words, Nigerians are condemned to unmitigated anguish and deprivation for a deferred benefit that will never come since Tinubu won’t be around for the next 10 to 15 years, ......

XY23:


Examine your current realities very well, then add 10 - 15 years to your age, and estimate how much success you might earn from your productive life in Nigeria. That's what makes the gravity of the issues under discourse more comprehensible to an agbado. SMH!

Racoon:
The man is a taxman and taxman knows nothing than to continue make fortune from poor helpless population by milking milking, and milking them to feather his nest.

Stop being so bittered that it blocks all forms of logic from your brain. You think you are attacking Tinubu by wanting Nigeria to fail. What sort of warped logic is that? Nigeria is bigger than Tinubu or any other person. So because reforms will take a long time, Nigeria should keep towing the wrong path?


Some of the reforms that Tinubu put in place as governor in Lagos state came into fruition long after Tinubu was no longer the governor of the state

The Chinese reforms started long before this current leader of China. Same can be said for all emerging economies all over the globe. Do you realize that there was a time Nigerians didn't need visas to so many countries?

Whoever told you that US, UK, and other western countries were built in a day did you wrong.

APC is clueless

ClearFlair:
APC is clueless

wittyness

Ikaeniyan0:
It seems you low li obidients do search for horrible news all about on the internet

no be Tinubu government still Dey create the bad news
If he was doing well would people complain ?
You’re just a brain dead bst!!

stuffs2002:
Some of the reforms that Tinubu put in place as governor in Lagos state came into fruition long after Tinubu was no longer the governor of the state.....

Same senseless, clueless, directionless and impactless policies that is destroying Nigeria and its citizens today while him, his family, cronies and associates continue to feed fat on this nation?

Many are dying because of hardship.
Ogun kill all those ing anyone causing hardship for Nigerians just because of tribalism.

world bank using Tinubu to destroy Nigeria

World bank is the enemy of Africa and our clueless governments keep frolicking with them and doing their stupid biddings because of stupid loans that they will still end up looting

Naija is on Autopilot

The west (especially America, Britain and ) are using Tinubu as a puppet to promote their ideas in Nigeria. They knew that an Obi or Atiku would not work for them so they decided to throw their weight behind a known drug criminal and a certificate fraudster as president. The west keep using World Bank and IMF to get cheap labour from Nigeria. The game plan is to use harsh economic policies to crumble the economy so that many Nigerians will japa to their land and they can use these people to get cheap labour while Nigerians work as slaves over there. It shall never be well with Tinubu as his idiotic foolish ers.

Same world bank that begged and lured Africans especially Nigerian to borrow money

Lol
I'll be 43 then. So i should wait?
No be my life una go use play.

stuffs2002:








Stop being so bittered that it blocks all forms of logic from your brain.

Some of the reforms that Tinubu put in place as governor in Lagos state came into fruition long after Tinubu was no longer the governor of the state

The Chinese reforms started long before this current leader of China. Same can be said for all emerging economies all over the globe. Do you realize that there was a time Nigerians didn't need visas to so many countries?

Whoever told you that US, UK, and other western countries were built in a day did you wrong.

Loll you are just being your usual zombie happy slaved up self Things work out in a Country where those who run the affairs have the intention to make things work. Open ya eyes zombie there is a sponsoring thought to every creation,agenda,action that of this evil Apc disaster was never to make Nigeria better,they only ed forces to snatch power from pdp and now all that matter is to keep Power at all cost.

Continue to dey expect make person wey no believe in Nigeria make Nigeria great

All this happy slaves sef ehnn
Talking about Chinese reforms like se na Human beings dey lead the Country, figure out what dey do to politiftians and criminal public officials in China na

Reforms gbe e.

Spot on piece as always... Kudos farouq, 👍👍👍👏👏👏

Ogun kee the bloodthirsty world Bank and it's Nigerian cohorts!... ENIKURE 💯💯💯💯💯
# Kòní ragbá fun Iyalaya gbogbo yín 🔊🔊🔊🔊
# àwon ole, jegudu jera, eleribu, mashanfani eda gbogbo 📢📢🔉🔉💯

Proudlyomonna:


Loll you are just being your usual zombie happy slaved up self Things work out in a Country where those who run the affairs have the intention to make things work. Open ya eyes zombie there is a sponsoring thought to every creation,agenda,action that of this evil Apc disaster was never to make Nigeria better,they only ed forces to snatch power from pdp and now all that matter is to keep Power at all cost.

Continue to dey expect make person wey no believe in Nigeria make Nigeria great

All this happy slaves sef ehnn
Talking about Chinese reforms like se na Human beings dey lead the Country, figure out what dey do to politiftians and criminal public officials in China na

Reforms gbe e.

Get well soon because only a sick person will bring insults to a discussion on world economies

I didn't even bother reading all your ST00PEED post the moment I saw your insults

stuffs2002:








Stop being so bittered that it blocks all forms of logic from your brain. You think you are attacking Tinubu by wanting Nigeria to fail. What sort of warped logic is that? Nigeria is bigger than Tinubu or any other person. So because reforms will take a long time, Nigeria should keep towing the wrong path?


Some of the reforms that Tinubu put in place as governor in Lagos state came into fruition long after Tinubu was no longer the governor of the state

The Chinese reforms started long before this current leader of China. Same can be said for all emerging economies all over the globe. Do you realize that there was a time Nigerians didn't need visas to so many countries?

Whoever told you that US, UK, and other western countries were built in a day did you wrong.

what reforms did he put in place in Lagos? You guys keep churning out this empty lies everyday. Tinubu built Lagos that was the capital of Nigeria from 1914-1992? Pls tell this garbage to the dogs.

One thing is certain, that son of thousands father helinues is coming to spill nonsense on this thread to defend his slave master even though his mother complained to him before giving him food yesterday that the price of things have skyrocketed in the market,shame on you hellanus for mocking Nigerian because of peanut you are getting from thieffnubu

stuffs2002:








Stop being so bittered that it blocks all forms of logic from your brain. You think you are attacking Tinubu by wanting Nigeria to fail. What sort of warped logic is that? Nigeria is bigger than Tinubu or any other person. So because reforms will take a long time, Nigeria should keep towing the wrong path?


Some of the reforms that Tinubu put in place as governor in Lagos state came into fruition long after Tinubu was no longer the governor of the state

The Chinese reforms started long before this current leader of China. Same can be said for all emerging economies all over the globe. Do you realize that there was a time Nigerians didn't need visas to so many countries?

Whoever told you that US, UK, and other western countries were built in a day did you wrong.

You just open mouth wide they yarn dust. So China, US, UK built their economies through this wicked reforms? Mtvhew

Do you even know what induatrialization is?

Racoon:
Same senseless, clueless, directionless and impactless policies that is destroying Nigeria and its citizens today while him, his family, cronies and associates continue to feed fat on this nation?

Why cut your nose to spite your face

Why tear down your country because Tinubu that you hate so much defeated your preferred candidate called Obi

What exactly have you gained in attacking Nigeria just because your choice of presidential candidate lost the election.

You and your kind have been illogically attacking Nigeria all because Peter Obi lost the presidential elections

Kperogi has as usual, made very valid observations and points, but I do not fully agree that the worldbank and IMF are fully out to impoverish Nigerians.

It is just that they keep underestimating the level of corruption and incompetence of the leaders and followers.

Until corruption is reduced to a reasonable extent, good economic policies cannot work in Nigeria.

Alarmist...

Opposition always keen and quick to jump into pit of misunderstanding and misinterpretation

2

If any mortal deserves the title of LAGOS BUILDER,
the cap PERFECTLY FITS the late pa lateef jakande! 💯💯💯📢

Not the notorious, AVARICIOUS, self serving, insatiable kleptomaniac dingBAT 😐

# records don't lie 😎😎

Mandate1:


You just open mouth wide they yarn dust. So China, US, UK built their economies through this wicked reforms? Mtvhew

Do you even know what induatrialization is?

This one is still bittered that Nigerians trashed Peter Obi in the last presidential elections.

Let me tell you the plain truth. Peter Obi will never be president because he is not a presidential material and it is that simple. Obi is not fit to rule a country like Nigeria