The Nigeria Labour Congress, NLC, has told the International Monetary Fund, IMF, and World Bank to stop lending money to governments not accountable to their citizens, saying that “such loans only deepen the crisis of governance and push nations further into the abyss of debt and underdevelopment.”
NLC President, Joe Ajaero, who spoke at the 2025 high-level meeting of the global labour movement, the IMF and World Bank in Washington, also told the global financial institutions how their economic prescriptions over the years had continued to worsen poverty and undermine Nigeria’s development, and called for support to developing nations in crafting progressive tax policies that protect the poor and vulnerable.
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