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Real reason World Bank, IMF praise Tinubu’s reforms – Economist, Prof Ekpo

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An economist, Prof Akpan Ekpo, has revealed the real reason why the World Bank and the International Monetary Fund, IMF, are praising President Bola Tinubu’s reforms.

Speaking during an interview on Arise Television on Thursday, Ekpo said the policies mirror the elements of the World Bank and IMF’s reform characteristics.

He added that the World Bank and the IMF should not expect Tinubu’s reforms to transform Nigeria’s economy structurally.

DAILY POST recalls that following the coming on board of the president on May 29, 2023, subsidy was removed and the naira floated.

“The World Bank and IMF’s praise for President Tinubu’s reforms in Nigeria isn’t surprising because these reforms mirror the package or elements of the World Bank and IMF’s reform characteristics, Prof Ekpo said.
“However, there’s no developing country that’s embarked on these types of reforms and fast-tracked growth and development. We’re almost three years into the reforms, yet the economy’s structure hasn’t changed even marginally.

“And on record, we don’t know of any developing country that has embarked on the IMF/World Bank type of reform. The Bank should know that the reform packages transform the economy in a structural sense. We are almost three years into the reform.

“Even in the context of the reverse GDP and the CPI, the structure of the economy has not changed. Does not change even marginally,” he said.

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Turaki-led PDP NWC accuses INEC of bias, faults meeting with Wike faction

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The national working committee (NWC) of the Peoples Democratic Party (PDP), led by Kabiru Turaki, has faulted the Independent National Electoral Commission (INEC) for meeting with the faction backed by Nyesom Wike, the minister of the Federal Capital Territory (FCT).

On Thursday, the electoral umpire held a meeting with chairpersons of political parties, including Abdulrahman Mohammed, who heads a caretaker committee set up by the Wike faction.

In a statement, Ini Ememobong, spokesperson of the Turaki faction, described Mohammed’s attendance as “vexatious”, adding that INEC is expected to be an unbiased umpire.

He said there are ongoing cases before the court of appeal seeking the recognition of Turaki as the authentic party chair, noting that the electoral body should have exercised restraint.

“This action, though ordinarily vexatious and capable of causing widespread breach of peace, will be met with all possible legal response,” the statement reads.

The PDP spokesperson said INEC has no power to impose leaders on the party.

Ememobong called on party members to remain calm as they await the outcome of the legal battles over the leadership crisis.

The opposition party is polarised into two factions.

Last month, a federal high court in Ibadan, the capital of Oyo, nullified the national convention held in the state on November 15, 2025.

In the ruling, Uche Agomoh, the presiding judge, declined the Turaki-led PDP’s request for an order to compel INEC to recognise the national convention.

Agomoh barred the Turaki-led NWC from parading itself as the party’s leadership, saying the convention was organised in flagrant disregard of the court orders.

The judge ruled that PDP cannot disobey court orders and then approach the court to seek judicial approval for actions taken in defiance of those orders.

The judge further held that the PDP can only operate through the caretaker committee until a proper and lawful national convention is held.

Turaki, a senior advocate of Nigeria (SAN), criticised the verdict, saying the judge granted reliefs that were neither requested nor argued by any of the parties.

Turaki said the party has filed a notice of appeal as well as a motion for stay of execution of the judgement, adding that the convention remains “legally intact, firmly in place, and fully committed to the ongoing rebirth” of the party.

The convention was backed by Seyi Makinde, governor of Oyo, and Bala Mohammed, governor of Bauchi.

The national convention was preceded by a series of conflicting court judgements, with some rulings from federal high courts in Abuja halting the event over alleged breaches of party constitution and electoral laws, while the Oyo state high court in Ibadan cleared the PDP to proceed with the exercise and directed INEC to monitor it.

Wike and his allies were expelled from the party at the convention.

The Wike group would later form a parallel NWC, a board of trustees (BoT), and a national executive committee (NEC).

In December, INEC rejected the request to recognise the Turaki-led NWC, citing multiple court judgements for its decision.

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Peter Obi reacts to Senate rejection of e-transmission of election results

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The 2023 presidential candidate, Mr Peter Obi, has strongly criticised the Senate’s rejection of mandatory electronic transmission of election results, describing the move as a grave setback to Nigeria’s democracy and a deliberate attempt to undermine electoral credibility ahead of the 2027 general elections.

Obi made his position known in a statement posted on his verified X (formerly Twitter) account on Thursday.

According to him, the Senate’s refusal to adopt compulsory electronic transmission of results amounts to “an unforgivable act of electoral manipulation” and a direct assault on democratic principles.

This failure to pass a clear safeguard is nothing short of a deliberate assault on Nigeria’s democracy,” Obi said, adding that by rejecting transparency measures, lawmakers were weakening the foundation of credible elections.

He questioned the true purpose of government, asking whether it exists to ensure justice and order or to institutionalise chaos for the benefit of a few individuals.

Obi argued that the controversies, disputes and alleged irregularities that characterised previous elections, particularly the 2023 general election, were largely a result of the failure to fully implement electronic transmission of results.

He dismissed claims of technical “glitches” during the elections as excuses, noting that several African countries have successfully adopted electronic transmission to strengthen their democratic systems.

While other African nations are moving forward, Nigeria, the so-called giant of Africa, continues to lag behind, dragging itself and the continent backwards,” he said.

Obi further warned that rejecting mandatory electronic transmission entrenches disorder and confusion aimed at perpetuating the interests of a small clique, urging leaders to reflect on the future of the country and the wellbeing of the next generation.

Referring to past remarks by international leaders, Obi noted that Nigeria often reacts angrily to criticism but continues to validate such assessments through actions that oppose transparency and reform.

When we were called a ‘now disgraced nation,’ we were offended. Yet, with every act of resistance against reform, we continue to confirm those labels,” he said.

He cautioned that the alleged irregularities witnessed during the 2023 elections must not be repeated in 2027, calling on Nigerians to remain vigilant and committed to democratic principles.

Obi also urged the international community to pay close attention to what he described as groundwork being laid for future electoral manipulation, warning that it poses serious risks to Nigeria’s democracy and development.

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