Shehu Sani slams World Bank for advising Nigeria to raise taxes

• He pointed out the World Bank’s caution about a potential increase in poverty levels to 104 million among the country’s 223 million population due to economic reforms causing a surge in the cost of living
  

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Former Kaduna Senator Shehu Sani has criticized the World Bank for what he deems as insensitive and irresponsible advice to the Nigerian government, particularly concerning the suggestion to increase taxes and eliminate petrol subsidies.

Sani’s statement, issued on Friday, highlighted the World Bank’s recommendation as potentially worsening the plight of Nigerians already grappling with poverty and insecurity.

He pointed out the World Bank’s caution about a potential increase in poverty levels to 104 million among the country’s 223 million population due to economic reforms causing a surge in the cost of living.

Expressing frustration, Sani criticized the detached approach of World Bank decision-makers, remarking that they view the economy as a mere chess game without considering the impact on people and their livelihoods.

He analogized the government’s current delicate handling of economic matters to managing a grenade and voiced concern over exacerbating chaos in a nation already grappling with significant security challenges, questioning the World Bank’s stance if further turmoil ensues in Nigeria.

Sani also criticized President Bola Ahmed Tinubu for removing fuel subsidy and unifying exchange rate, saying that these measures were not enough to address the root causes of inflation and economic instability.

He said, “The World Bank is insouciantly telling Our Nigerian Government to raise taxes, withdraw subsidies on everything and just increase the price of PMS known as petrol.

“It’s the same World Bank that alerted about poverty levels rising to 104 million out of a population of 223 million, as a result of the rise in the cost of living brought about by the economic reforms.

“The World Bank kingpins comfortably sit in their office and think of the economy as game of Chess and not about people, their families and their lives.

“At present, the Government is managing a Grenade with care and now telling it to remove the pin. Where would the World Bank be if the country is plunged into further chaos in a nation currently battling with security challenges?”