Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has criticized Chief Bola Tinubu’s administration, stating that hope is not a viable strategy for addressing the country’s economic difficulties and rising poverty.
In a post on his X handle on Friday, Moghalu acknowledged the challenges Nigerians face but remained optimistic about the country’s future. He emphasized that the government must strengthen its capacity for effective governance to tackle these issues.
Moghalu’s comments come amid growing discontent over government policies, including the removal of the fuel subsidy and the devaluation of the naira. While the government defends these measures as necessary for economic stabilization, many Nigerians have expressed concern over their negative impact on daily life.
He urged Nigerians to be honest about the root causes of the country’s problems, stressing that solutions are possible if they are addressed head-on.
Moghalu warned that failing to confront these issues would lead to greater loss for all, including those who believe they benefit from the current status quo.
His words, “Despite sustained contemporary difficulties, I am hopeful about Nigeria.
“But hope is not a strategy. We need to improve the state’s capacity for effective governance. We either fix our problems, or our problems will eventually ‘fix’ us. No alternative to a renegotiated union.
“We must learn to be honest with ourselves and address the root causes of our problems. Why ignore them, when the problem is actually quite solvable?
“The problem with continuing with this approach is that when the danger crystallizes, those who thought they were benefiting from the status quo will find that we ALL – they included- will be losers,” he added.
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