Senator representing Ondo South district, Dr. Jimoh Ibrahim has faulted the data of the International Monetary Fund (IMF) and the World Bank recently released on Nigeria’s economy.
He described the IMF/World Bank’s data as phoney, saying the data did not represent the current economic status of Nigeria.
Ibrahim stated this at the parliamentary engagement on the sidelines of the IMF)/World Bank meetings in Washington D.C, United States of America.
A recent economic report by the World Bank had estimated that 139 million Nigerians now live in poverty, but Ibrahim underscored the Bretton Woods institutions.
He told the world economists and finance experts that President Bola Tinubu has performed very well in managing Nigeria’s economy, saying that he has paid the $3 billion loan Nigeria was owing IMF and the World Bank.
Commending President Tinubu on his achievements within the last two years in office, the billionaire business mogul stated that paying back such huge loan is not an easy mean.
He reeled out some of the achievements of the President, emphasising on the fall in prices of food items in the country as it affects the least citizens.
The senator noted that the data used by IMF/World Bank for the estimation and assessment of the standard of living of Nigerians were spurious and did not conform with the true situation of the citizens.
He, therefore, urged the attendees to offer helping hands to Nigeria by encouraging investors to explore the vast economic values of the country.
Ibrahim moved to the USA to attend the IMF/World Bank for Parliamentary Engagement after his presentation at the Global Parliamentary Conference on Counter-Terrorism and the Prevention of Volent Extremism in Istanbul, Turkey a week ago.
