The Presidency have fired back at the former Governor of the CBN, Chukwuma Soludo, who accused the Buhari administration of worsening the state of Nigeria’s economy since it took over.
Charles Soludo
While speaking in Enugu on Thursday at an interactive Forum, titled “Big Ideas Podium”, organised by the African Heritage Institution, former Central Bank of Nigeria (CBN), Chukwuma Soludo, accused the President Muhammadu Buhari administration of worsening the state of Nigeria’s economy since it took over almost two years ago.
Soludo said the government had not shown sufficient seriousness in addressing the nation’s terrible economic situation, adding that the present administration had made the economy several times worse than it met it in May 2015.
“Nigeria is now, some say, a fragile state; some say a failed state. It is not going to be a tea-party to come out; but unfortunately, we are not taking it seriously.
“Nigeria is not just in recession, but in a massive economic compression,” the professor of economics was quoted by the online newspaper, Daily Post, as saying.
“It will be a miracle for the present APC administration to return this country to the dollar size it met in May 29, 2015, if it stays for eight years, till 2023.
“They inherited a bad situation, but they have made it several times worse. Getting us out here is not a tea-party. Nigerians should rise in unity. It should no longer be ‘let them.’ Only united citizens can rescue Nigeria out of this position.”
Soludo disclosed that his message was essentially that Nigerians cannot just sit idle in their homes and expect “change” to happen.
“My idea is that of Citizen United; we won’t get the leadership that we deserve; we won’t get the leadership that we want; we will get the leadership that we demand,” he was further quoted as saying.
“They gave us manifestoes, promised a lot and we said ‘yea’; how many have gone back to check how far them are implementing those promises; if any party implements 25 percent of its manifesto, Nigeria will get better.
“If you check any state run by APC, PDP or APGA, the three parties that have governors, can you spot any difference in any of those states that will distinguish one party from another? It is the same.
“APC said in its manifesto that it will restructure Nigeria, that Nigeria was not one, but after election, has anybody heard about it (restructuring) again? They control 23 States and the National Assembly, all they need is one more State to get the required 2/3; so they have what it takes, but they are not talking about it again.
“If we don’t rise to hold them by the jugular, Nigeria cannot go anywhere. We have to start preparing for a post-oil economy; insanity is to repeat the same thing over and over again and expect different result.”
Meanwhile, Acting President, Yemi Osinbajo’s spokesperson, Laolu Akande, said in a statement on Thursday that Soludo had ignored the new direction the government was leading the economy in a manner that suggested “selective amnesia”.
He said the former CBN governor was entitled to his “opinion”, while Nigerians were entitled to “facts” about the economy.
“The opinion he (Soludo) expressed is understandable in a democratic system, but the facts are that the challenges of today are a direct result of wrong-headed decisions of the past, and quite mind-boggling actions of those who were entrusted with leadership,” Mr. Akande, said.
He said it was undeniable that the Buhari government was working hard to change the economy. “What even Soludo cannot deny is the fact that the Buhari administration has ended the bleeding of the nation and is implementing reforms.
“The Buhari administration is spending more on infrastructure at a time when resources are lean. When we had abundant revenues what happened was profligacy and plunder,” he said.
“What no one can deny is that the Buhari administration is now implementing on behalf of ordinary Nigerians a Social Investment Programme that is unprecedented in Nigeria’s history, paying poorest Nigerians N5,000 monthly, feeding school children and engaging hundreds of thousands of unemployed graduates,” he said.
“Apart from plugging loopholes in several ways, including through the Treasury Single Account, he said the Buhari administration was raking in resources that otherwise were hidden and misappropriated by the previous administrations.”
Related Posts
It’s Official! President Muhammadu Buhari Approves Borrowing From World Bank, China
4 Things Pres. Buhari Has Done To Save Nigeria From Sinking Into Recession
Recession! How Nigeria’s Investment Inflow Reduced By N642bn Under President Buhari
Why I Will Not Serve In Buhari’s Government – Okonjo-Iweala Opens Up
Jonathan, Buhari’s Policies Plunged Nigeria into Recession – Oby Ezekwesili
The post Presidency Clashes with Ex-CBN Boss, Soludo Over Comments Against FG on Worsening Economic Crisis appeared first on GL Trends.