A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has taken a swipe at President Bola Tinubu’s government, stating that hope is not a strategy to tackle the country’s economic hardship and rising poverty.
In a post on his X handle on Friday, Moghalu expressed optimism about Nigeria’s future despite the current challenges. However, he said that the country needs to strengthen its state capacity for effective governance.
Moghalu’s comments come as Nigerians continue to grapple with the effects of the government’s policies, including the removal of fuel subsidy and the floating of the naira. While the government has argued that these policies are necessary to strengthen the economy, many Nigerians have expressed concerns about the impact on their livelihoods.
According to Moghalu, Nigerians must learn to be honest with themselves and confront the underlying reasons for their problems. He argued that the country needs to address the root causes of its issues, rather than ignoring them.
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.”
