Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, expressed his empathy for the millions of genuine entrepreneurs in Nigeria, acknowledging the challenging business environment they face.
Moghalu attributed these difficulties primarily to insecurity and poor governance.
In a post on his X handle on Tuesday, he noted that politicians with an entitlement mindset are incapable of creating a prosperous economy.
He said: “I truly feel for the millions of genuine entrepreneurs, small and big, in Nigeria, who are trying to make an honest living and create wealth. But the business environment is so difficult, largely because of insecurity and bad governance.
“Politicians with an entitlement mindset simply can’t create a prosperous economy. Because they can’t fix the root causes of our problems: no education, hence 20 million out of school children (the highest ratio in the world), hence no jobs, hence no security. No electricity, hence no productivity.”
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