Danger Ahead, As Human Rights Activist, Femi Falana, Raises Major Alarm; Reveals That President Bola Tinubu Has “Sold” Nigeria To The IMF And World, Ahead Of The 2027 Presidential Election; Declares That Nigerians Should Not Expect The Hunger And Economic Hardship To End Anytime Soon
Inside the Aso Rock Presidential Villa, in Abuja, under the leadership of President Bola Tinubu, the real Authors of Nigeria’s Economic policies are not the Ministers. They are Officials of the International Monetary Fund, IMF, and the World Bank.
A Senior Advocate of Nigeria, SAN, and Human Rights Activist, Femi Falana, captured it plainly: “Bola Tinubu has handed Nigeria over to the IMF and World Bank. Nigerians should not expect the hunger and economic hardship to end anytime soon.”
In 2026, that warning has become the daily reality for all Nigerians.
Within 30 days of taking Office in 2023, the President Tinubu administration imposed two IMF textbook policies without a transition plan: Full fuel subsidy removal and naira floatation. There was no boost to local refining of fuel, and no palliatives that matched the shock for ordinary citizens. Transport fares doubled overnight. Food prices followed. Three years later, the damage is measurable.
As at June 2026, food inflation was 40.87 percent. The World Bank projected that 104 millions Nigerians will live in extreme poverty by the end of 2026, up from 89.8 million in 2023.
Youth unemployment remains above 34 percent. The naira collapsed from 460 to one dollar in May 2023, to over 1,580 to one dollar in August 2026; and Investors have stayed away.
Nigerians are paying more and getting less. In 2024 alone, Nigeria spent over 8.7 trillion naira servicing external and domestic debt. That is more than the budgets for education, health and defence combined. As at Q1 2025, external debt stood at 42.12 billion dollars; with the World Bank and IMF as the largest multilateral Creditors.
Even the fuel subsidy declared dead has not gone. In 2024, over 4.5 trillion naira was spent on under-recovery and FX differentials for fuel. That money could have equipped Primary Health Centres or fixed critical Federal roads. Instead, it vanished into waste.
The human cost is in our Streets. When people cannot eat and cannot work, insecurity thrives. In just three months of 2026, at least 5,091 Nigerians were reported killed in violent incidents nationwide. Hunger does not pull the trigger, but it creates the economy where the gun becomes a job.
Recall, that the All Progressives Congress, APC, spent years attacking the Peoples Democratic Party, PDP, for “IMF policies”. However, today, the Federal Government’s statements quote IMF projections at every single chance. The same voices that said, float the naira to attract capital, are silent as capital stays away. The same people who called subsidy wasteful, now preside over a budget where debt service is the biggest item.
Falana knows this playbook. The IMF loans come with conditions: Remove subsidies, raise taxes and VAT, sell assets, suppress wages. These are repayment policies, not growth policies.
Nigeria is not broke. We generate over 18 trillion naira yearly. Our problem is waste, corruption and priorities that serve Creditors over citizens.
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