ASUU blames World Bank, IMF policies for economic hardship

• You’re pushing Nigeria towards anarchy, union warns FG

AStaff Union of Universities ( ASUU) has blamed the Nigerian government, World Bank and International Monetary Fund ( IMF) for the severe economic hardship in Nigeria.

The union said the longstanding partnership between Nigeria and foreign financial institutions had resulted in destitution and suffering among the Nigerian populace.

ASUU'S Zonal Coordinator, Stanley Ogoun, disclosed this during a press conference at the University of Port Harcourt ( UNIPORT), yesterday, condemning the Federal Government and the financial institutions, as well as alleging that their policies were designed without any consideration for steering poor nations out of economic hardship. He said some of the policies underscored the union's deep concern about the adverse effects of the already burdened Nigerian citizens.

He also noted that the unplanned subsidy removal and the implementation of a floating exchange rate as policies vigorously advocated by the World Bank and the IMF had made a detrimental impact on the Nigerian economy. He said: "It is on record that no country has moved up the development index based on either the World Bank or IMF policies. All countries, who relied on their policies, are grossly indebted and have remained pauperised.

"The examples from the Asian nations are obvious pointers to this reality. Over the years, our union has persistently warned that the policies of these so- called development partners are never intended to lead any of the poor nations out of poverty.

"One of their targets is to destroy the education system in Nigeria, as they know that the removal of the right and access to education from the critical mass of a country's citizenry renders them vulnerable to perpetual slavery".