The Nigerian Senate has reaffirmed the commitment of President Bola Ahmed Tinubu’s administration to uphold the nation’s sovereignty and economic independence amid ongoing engagements with global financial institutions, SAVANNAH NEWSNOW REPORTS.
Senator Jimoh Ibrahim, CFR, who represented the Nigerian Senate at the Parliamentary Engagement Session during the 2025 Annual Meetings of the World Bank and International Monetary Fund (IMF) in Washington D.C., made the declaration while addressing a cross-section of international policymakers, lawmakers, and economists.
According to Senator Ibrahim, Nigeria’s participation in global economic dialogues is driven by the desire to strengthen cooperation, attract meaningful investment and promote sustainable development without yielding to any form of external control or conditionalities that could undermine the country’s sovereignty.
“President Tinubu’s government is resolutely committed to economic reforms that promote growth, fiscal discipline, and monetary stability,” Senator Ibrahim stated.
“However, these reforms are home-grown and tailored to Nigeria’s realities. We will continue to engage international partners, but never at the expense of our independence as a sovereign nation.”
He further noted that while Nigeria acknowledges the support and advisory roles of the IMF and World Bank in addressing global economic challenges, the country will insist on partnerships that respect mutual interests and national priorities.
Senator Ibrahim, who also chairs the Senate Committee on Inter-Parliamentary Affairs, emphasized the importance of parliamentary diplomacy in promoting transparency, accountability, and legislative oversight in economic governance.
He explained that Nigeria’s lawmakers are committed to ensuring that any international financial engagement aligns with the country’s development vision as outlined in President Tinubu’s Renewed Hope Agenda.
“The Senate will continue to play its constitutional role in reviewing international agreements, protecting national interests, and ensuring that every loan or financial package benefits the Nigerian people directly,” he added.
The senator also addressed Nigeria’s current economic outlook, describing it as challenging but promising, given the ongoing reforms in revenue generation, subsidy removal, digital taxation, and diversification of the economy. He maintained that Nigeria’s medium-term fiscal framework reflects the government’s determination to restore stability, reduce debt dependence, and create a more inclusive economic environment.
The World Bank/IMF Annual Meetings, which attract delegates from over 190 member countries, serve as a forum for discussing key global financial issues, economic development, and poverty reduction strategies.
