Bauchi Governor Challenges World Bank, Claims FG’s Economic Reforms Are Ineffective

Governor Bala Mohammed of Bauchi State disputes the effectiveness of Nigeria’s economic reforms, calling for urgent policy reviews to address rising inflation and public hardship

In a direct challenge to the World Bank’s stance, Bauchi State Governor Bala Mohammed has expressed strong dissatisfaction with the Federal Government’s economic reforms, claiming they are not delivering the intended results. According to the governor, FG’s economic reforms have worsened inflation and left many Nigerians struggling to survive. He called on the government to urgently reassess its policies, warning that failure to address the issue could lead to serious social unrest.

Governor Mohammed made his statements in response to the World Bank’s assertion that FG’s economic reforms are critical for Nigeria’s long-term stability. The World Bank’s Country Director, Dr. Ndiame Diop, had urged Nigerians not to oppose these reforms, emphasizing their importance despite the immediate challenges. Diop stressed that while difficult, the reforms are necessary for the nation’s fiscal health and future growth.

However, Governor Mohammed countered that FG’s economic reforms have led to widespread suffering, with hunger and dwindling purchasing power threatening to destabilize the country. “People are suffering,” the governor lamented, adding that public dissatisfaction with the reforms is growing. He further explained that high inflation and unsustainable tariffs are making life unbearable for ordinary Nigerians.

The governor’s critique of FG’s economic reforms also extended to the power sector, where rising electricity tariffs are adding to the financial strain on citizens. “What are we doing to reduce hunger? The money we’re receiving is not enough,” he stressed, urging the Federal Government to act before it’s too late.

Meanwhile, the World Bank’s warning remained clear: any reversal of FG’s economic reforms would spell disaster for Nigeria’s economy. Diop noted that although the reforms have led to difficult short-term impacts, they are already improving the country’s fiscal outlook, with government revenues on the rise and external reserves strengthening.

Despite these improvements, Governor Mohammed insists that the public backlash against FG’s economic reforms cannot be ignored. He advised the government to avoid being rigid and instead adopt more people-centered policies to ease the economic hardship currently facing the nation.

In conclusion, while the World Bank and the Federal Government maintain that FG’s economic reforms are vital for Nigeria’s future, the growing discontent from leaders like Governor Mohammed suggests that further adjustments may be necessary to ensure widespread support and alleviate public suffering.