By Thompson Yamput
A Political Economist, Prof. Sam Egwu, has urged the Federal Government to stop listening to International Monetary Fund (IMF) and World Bank in the interest of Nigerians.
The political economist made the call on Tuesday while presenting his paper at the First National Conference organized by Faculty of Social Sciences, Federal University Lokoja (FUL), at the Felele Campus, Lokoja.
Egwu, who’s the Benue Resident Electoral Commissioner (REC), Independent National Electoral Commission (INEC), argued that IMF and World Bank have their ulterior motives towards developing nations across the globe and should not be listen to or taken serious by any well meaning nation.
Speaking on the theme: “Governance and Socio Economic Challenges: Implications on Citizens Welfare in Nigeria” Egwu noted that “Nigeria’s problem stated when we discarded the state control of corporations and large businesses.”
According to him, they are the reason why Nigerian Democracy is about “elite settlement and not for the poor,” but only aimed at satisfying the appetite of the ruling Class.
“This is the reason why the liberal democracy being practised by Nigeria cannot serve the welfare and the well-being of the people.
“It (Liberal democracy) was conceived to settle political and elite class who take over power through the ballot as dictated by the Bretton wood promoters.
“liberal democracy has taken the state away from the people and development,and replaced her with market forces,with the government not involved in the economic development of the people
“In 1970s there was National Development plan of which the government was involved in running of corporations and large businesses, but these were to be substituted with National Rolling plans which systematically took away the people and replace it with market forces to the detriment of citizens,” he said.
The political scientist called for a rethink by government and the elites and chart a new course for Nigeria’s growth and development that could better the well-being of citizens.
Earlier in his welcome address, the FUL Vice Chancellor, Prof Olayemi Akinwumi, said that the conference was aimed at providing solutions to the country’s life threatening challenges
Represented by the Deputy Vice Chancellor Administration, Prof Emmanuel Bala, the VC tasked the participants to brain storm on various ways the nation could waggle out of the prevailing economic challenges threatening citizens well-being.
Also, Prof. Salisu Musa said, Dean, Faculty of Social Sciences, said,
“As social scientists, we are imbued with theoretical tools , analytical framework and empirical insights necessary to examine governance structures and Socio-economic policies critically for better usage.”
Musa expressed the belief that the outcome of the conference would help policy makers to understand realities on the ground and design interventions that would truly benefits the citizens of Nigeria.
