Tag: Jimoh Ibrahim

Senator Jimoh Ibrahaim has called on global leaders at the United Nations 6th World Speakers’ Conference in Geneva, to revisit the principles of the 1648 Peace of Westphalia as a framework for maintaining international peace and security.

Ibrahim, who represents Ondo South and chairs the Interparliamentary Committee Worldwide in the Nigerian Senate, stressed the need to uphold sovereignty and the non-interference doctrine in international relations.

According to him, abandoning these principles in favour of power dynamics and national interests threatens global harmony.

He emphasised that these principles remain the primary means of fostering international peace and security.

Ibrahim asserted that these fundamental principles should not be replaced by power, interests, or authority in global politics. He explained that respecting sovereignty is crucial for safeguarding global peace and promoting international harmony.

Read Also: Jimoh Ibrahim faults IMF, World Bank, Insists Nigeria is World’s 42nd biggest economy

He reminded global leaders that no country in the world possesses absolute sovereignty and that maintaining peace should be the guiding principle of geo-centric politics amidst power struggles.

According to Ibrahim, “those fundamental principles of non-interference in the domestic affairs of nations and the prevention of the use of force are principles of the protocol of the 1648 treaty of Westphalia and they are distilled into the United Nations as the rule book of international engagement, an action to the contrary is an invitation to disunity and temptation a self-creation of an ancillary power that can affect international peace and security.

Ibrahim observed that Africa has remained peaceful in recent times because Nigerian Liberalist President Tinubu has focused on respecting national sovereignty, regardless of a country’s size. “Every nation must honour sovereignty as long as it meets the criteria set by the 1648 Peace of Westphalia, including population, government presence, and territorial boundaries.”

Ibrahim explained that countries seeking to test their strength should first concentrate on implementing border controls to prevent unauthorised entry, such as erosion without visas or air border measures that could help prevent the spread of COVID-19.

“It is unfortunate that we are once again curbing the benefits of globalisation in the face of hunger and human abuse, creating tension over which we have no absolute control. Yes, a country can focus inward to the balance of power. Still, the need to stay united in foreign policies serves the interest of international peace in modern times, when international institutions are becoming increasingly epiphenomenal,” Ibrahim said.

He advised the speakers of various countries to return home and pass legislation that will ensure their countries respect sovereignty as a sign of strong support for international peace and security. He said that the Nigerian Senate, and by extension the African Parliament, is supportive of his suggestions.

The senator representing Ondo South in the Senate, Senator Jimoh Ibrahim, has challenged the International Monetary Fund and the World Bank to present evidence contradicting the claim that Nigeria is currently the 42nd largest economy in the world.

Ibrahim spoke in Abuja while  reacting to  the IMF/World Bank statement claiming Nigeria is the 12th poorest country with a specific per capita income. He criticised the IMF for overlooking the country’s total GDP, which primarily influences the per capita income.

Ibrahim emphasised that President Tinubu’s administration had never stated that Nigeria faces no challenges.

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He said Nigeria struggles to translate its large GDP into higher per capita income, a problem the government is addressing with the Hope Agenda.

Ibrahim said the IMF and World Bank often show data from only one standpoint on the balance sheet. He suggested these organisations should concentrate on their internal problem of increasing consultancy fees, highlighting that the IMF and World Bank are epiphenomena without independent authority.

Ibrahim stated that the skill gap in the public sector hinders the effective execution of government’s good intentions, adding the government aims to address this problem through a significant restructuring policy.

Noting that reforms are underway, and promoting the knowledge economy has become a top focus, he said per capita income is projected to increase gradually over time.

Ibrahim emphasised that eradicating or reducing poverty was a shared responsibility, adding that Nigeria’s actual GDP is $363 billion, with a per capita income of $1,597, as opposed to the $808 mentioned by the global financial institutions.

Chairman, Senate Inter parliamentary Committee, Senator Jimoh Ibrahim, has advised the International Monetary Fund( IMF) and the World Bank to elevate their responses beyond merely downgrading the economies of developing countries.

Ibrahim told reporters on the sideline of the spring 2025 meetings of the IMF and World Bank in Washington DC, USA that cutting projected growth or rescheduling debts are insufficient and advised the two international financial institutions to respond beyond merely downgrading outlooks.

“They should do more to unite nations. International institutions should engage leaders. The world needs a conference table of leaders and genuine engagement, ” he said.

He urged the IMF and World Bank leadership to always hold ” high – level discussions with global economic leaders focused on collaboration.”

The leadership, he further advised, should approach the meetings not as enforcers of policies but in a friendly and composed manner, while avoiding unwarranted comments.

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Ibrahim, who represents Ondo South Senatorial district under the platform of the All Progressives Congress ( APC) in the Senate warned that the global economy is facing an uncertain future or appropriately a financial state of stagnation.

“The situation threatens innovation and could lead to a worldwide retreat from commitments to globalisation, ” he said, warning that if the trend continues, a recovery period of 10 or more years may ensue.

The fallouts of this could be rise in poverty level, heightened tensions across the world. He urged world leaders to set aside personal differences and focus on economic collaboration instead of power struggles

Speaking on the annual meetings, Ibrahim commended the IMF/World Bank group but advised the office of the IMF statistician to do more so that the world body can have accurate and very reliable data to work with.

Specifically on African economies, he said: ”I cannot see any improvement in economic outlooks as the IMF is working on projected data rather than reliable data. Their data , as it relates to Africa , is weak and unreliable, he said,

Ibrahim praised President Bola Tinubu for taking bold decisions on the nation’s economy and urged him to stay focused.

“My advice is that the President stays committed to his reform agenda strive to enhance his team’s knowledge capacity on economic management and international finance,” he added.

Chairman of Senate Committee on Inter-parliamentary Worldwide, Jimoh Ibrahim, has urged the World Bank to refocus on establishing the African data bank as a basis for long-term and sustainable growth in the continent.

Ibrahim spoke at a session at the ongoing World Bank/IMF meeting in Washington, D.C.

The session was coordinated by Ms. Tazi, with contributions from Canada’s Chair for the World Bank and IMF Parliamentary Network Tony Loffreda and Director of the Global Indicators Group at the World Bank, Norman Loayza.

Loayza, who agreed with Ibrahim, explained that the World Bank is taking new initiatives with the Office of the World Bank statistician to address the concern and start the training programmes on statistics soon.

Ibrahim stressed the importance of data to planning and development as it serves as the foundation on which new African economic development will be established.

He said: “Without data, no one can effectively reduce crime or operate a government aimed at achieving poverty reduction.

“Population data and individual details suggest that citizens should have an identity passport to capture pertinent information about who they are and what they do.

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“Currency data indicates that central banks in Africa must understand how much currency exists within and outside the banking sector for effective planning.

“Electoral data is necessary to comprehend the level of public participation and why others are not involved in the political process.

“Every sector of the economy requires data, and if action is not taken now, in five years, it will be impossible to run any government without data.”

The Ondo South senator emphasised the need for comprehensiveness as well as accuracy for data to be relevant and impactful.

He urged the IMF to rethink the empirical basis for its data gathering and assumption, as it may not mirror the total outlook it seeks to reflect.

Ibrahim said: “My only question is, can any country develop without a data bank? Why are you not insisting on one, and how are you obtaining your projected African economic outlook without country data?

“Once you send your people there and they collect a sample survey, you input it into your Excel and generate figures, with less than one per cent of the population of interest supporting such illegitimate data being used to give a loan. I ask you to be fair to Africa.”

According to him, the absence of accurate and comprehensive data makes it difficult to plan and implement development policies across Africa.

“No one can help Africa without data. Based on the current economic outlook, we cannot guess or assume that it is in a critical situation. We cannot grow in Africa without data. We should invest 15 per cent of our budget in technology-powered data for the next ten years. Our development is impossible without data,” Ibrahim said.

Urging the World Bank to support the federal data bank project in Nigeria, the senator said: The Nigerian government will soon take the lead when the current Data Bank bill is passed into law; everyone will be a stakeholder in the new data bank.”

He said the IMF should consider stopping granting loan to African countries without a data bank.

Ibrahim said: “I think that you want the loans you are given to Africa to be paid back, and you want Africa to develop.”