Politics

Rising Poverty: Tinubu inherited a ‘Dead Economy’ from Buhari – Gov. Soludo blows hot

The Governor of Anambra State, Professor Charles Soludo has stated that President Bola Ahmed Tinubu inherited a ‘dead economy’ from his Predecessor, Ex-President Muhammadu Buhari.

He made the comment during an interview on Channels Television’s ‘Politics Today’ on Thursday.

In his words; “This government inherited a dead horse that was still standing and people didn’t know it was dead”.

Soludo highlighted the challenges faced by the current administration, emphasizing the enormity of the issues and urging Nigerians to grasp the gravity of the situation. He likened the challenges to pouring water on a rock, implying that tackling these issues would not yield immediate results.

“Because you can’t pour water on a rock and not expect the rock not to be wet, there are humungous challenges and I think it is important that Nigerians understand this. and it is not a tea party ”

Speaking about his tenure at the apex bank from 2004 to 2009, Soludo accused the CBN of engaging in illegal money printing, referencing his involvement in drafting the 2007 Bank Act.

He pointed out the Act’s specific clause designed to prevent the Central Bank from excessively lending to the Federal Government, restricting the lending to no more than 5% of the previous year’s actual revenue.

Expressing disappointment, Soludo asserted that the CBN had failed to adhere to the stipulations outlined in the 2007 CBN Act, leading to what he described as continuous and unlawful money printing.

“We all sat here and saw how the CBN brazenly, illegally violated that law year after year and kept on printing money.”

“When you continue to credit the account of government, 1 trillion people shouted, 2 trillion,10 trillion, 15 trillion and 20 trillion and we kept going“, he said.

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3 Comments

  1. You people are accomplish in the killing of the Nigeria economy. You just want to use the former president as a scapegoat. Nigeria governor’s are too powerful. President Tinubu should be very careful in his dealings with them. Majority of them are green snake under green grass.

  2. We heard the same stories when Buhari took over while Jonathan left much for him. It’s an excuse to embezzle more of the country resources. Just see how this Government is spending and without any sign of doing better for the country.

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