Professor Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), has observed that the current economic crisis in Nigeria is a continuation of a forty-year downward trend. He has noted that the economic crisis was partially alleviated during the civilian Obasanjo presidency and partially under the Yar’Adua and Jonathan administrations. CONTINUE FULL READING>>>>>
Speaking further, the former deputy governor of the CBN made it known that ever since then, the country has fallen under incompetent economic management and have not recovered from it, noting that the immediate future looks difficult. He went on and urged Nigerian government to try and create wealth and stop wasting money unnecessarily.
Professor Moghalu made this disclosure in a post he made on his official X handle on Wednesday morning, noting that we need to lay foundation for long term economic transformation.
Some parts of the tweet read: “Nigeria’s economic distress is simply part of a 40-year downward trajectory that was broken only briefly by the Obasanjo civilian presidency and to some degree under Yar’Adua/Jonathan (up to mid-2014). Ever since, especially from 2015, we fell under completely incompetent economic management and have not recovered.” CONTINUE FULL READING>>>>>
