“Ali Ndume Warns That World Bank and IMF Are Leading Nigeria Towards a Venezuelan Crisis”

Senator Ali Ndume, an APC representative in Borno South National Assembly, has warned that the involvement of the World Bank and IMF is leading Nigeria toward a critical situation similar to that of Venezuela....(CONTINUE READING)

He pointed out that despite Venezuela having the largest oil reserves and a smaller population, it has struggled economically. This comparison highlights the dangers Nigeria faces if it continues to follow external guidance without accounting for its unique circumstances.In an interview with Arise TV, Ndume stated, “The issues we face in this country are self-inflicted. The World Bank and IMF play a role in this.

My concern is that their influence is pushing us toward a situation like Venezuela, which we must avoid. Venezuela has the largest oil reserves yet faces severe challenges. When we allow outsiders to manage our affairs without understanding our local conditions, we are headed in the wrong direction.”