Skip to main content

SOLUDO: BUHARI INHERITED A BAD SITUATION BUT MADE IT WORSE


Soludo: Buhari inherited a bad situation but made it worse
Chukwuma Soludo, professor of economics and former governor of Central Bank of Nigeria (CBN), on Thursday said Nigeria’s plight has grown beyond recession to “massive economic compression”.

Speaking at ‘Big Ideas Podium’, a public policy debate organised by the Afri Heritage Institution in Enugu, Soludo acknowledged the fact that President Muhammadu Buhari inherited a bad situation, but said he has “made it worse”.
He said it will be a miracle for Buhari to return the economy in dollar terms to the exchange rate he met when he took over on May 29, 2015.
“Buhari met a very bad situation when he assumed power, but he has made the situation worse. Nigeria today is a fragile state with a failing economy. Some say failing state; some say failed state,” he said.
“The economy is not just in recession; we are suffering from massive economic compression. Saying it is recession trivialises the issue.
“It will be a miracle if after eight years, by the time it leaves office in 2023, the current administration is able to return the economy in dollar terms to the exchange rate it met when it took over.
“The truth is this government inherited a very bad situation, but it has made it very much worse.”
He alleged that Nigeria, as currently structured, favours only a “privileged few”.
Soludo lamented that the north, a region which has produced many Nigerian leaders, still wallows in poverty.
He said despite having many Igbos in power during the administration of former President Goodluck Jonathan, many roads in the south-east region were still in bad shape.
“Nigeria is not working in anybody’s interest except that of the privileged few and because of this, there is an obsession with unnecessary distractions, like which part of the country produces the president. You can have the president, the vice-president and all the ministers from one village and the life of the ordinary people from that village will not move from point A to point B,” he said.
“The north has ruled the country for several years, but poverty, to a very large extent, is a northern problem.
“In the last dispensation, we had Jonathan as president, the finance ministry and almost all the financial institutions of government were headed by Igbos then, but we still don’t have any motorable federal road in Igboland.”

Comments

Popular posts from this blog

FEDERAL ALLOCATION TO THE TWENTY FIVE LOCAL GOVERNMENTS IN DELTA STATE IN 2023

Below Is The Federal Allocation To The Twenty five Local Government Areas in Delta State In 2023: Aniocha North:  ₦2,631,989,064.8 Aniocha South:  ₦2,847,788,192.94 Bomadi:               ₦2,491,779,057.87 Burutu:                 ₦3,367,885,422.51 Ethiope East:      ₦3,178,376,209.24 Ethiope West:     ₦3,226,505,207.54 Ika North East:   ₦3,279,681,589.37 Ika South:            ₦3,117,284,050.15 Isoko North:        ₦2,968,741,529.30 Isoko South:       ₦3,372,633,698.8 Ndokwa East:     ₦2,766,813,948.49 Ndokwa West:   ₦3,108,983,376.16 Okpe:                    ₦2,750,960,811.06 Oshimili North:  ₦2,683,889,807 Oshimili South: ₦2,890,887,684.18 Patani:                 ...

OBOREVWORI: How Not To Glorify A 'One Chance' Governor - By Zik Gbemre

It is appalling how, in desperation to sustain its thieving hegemony over the Delta State Government since 1999, the Delta PDP had the audacity to impose the weakest, most uninformed contender, a local champion, as Governor over a state replete with accomplished men and women of immense capacity. Given this unenviable privilege, one would have expected the fortunate placeholder governor, Sheriff Oborevwori—whose only election campaign manifesto was pledging to improve on the failed leadership of Ifeanyi Okowa, his predecessor—to engage creative minds and individuals of proven integrity to assist him in making a difference. Rather than doing the needful, Oborevwori has worsened matters by electing to engage the same spent leaders, deadwood, and gluttons that have gained prominence in running the state down over successive administrations. The result has been a government of mediocre officeholders competing to run the state for their pockets at the detriment of the populace, under a gove...

MOMENT OF HONOUR: Ughelli Agog As Ovie Omo-Agege Arrives Home

It was a day of honour for Obarisi Senator Ovie Omo-Agege, CFR, the immediate past Deputy President of the Senate, and Delta State governorship candidate of the All Progressives Congress, as the people of Delta State came together from all ethnic nationalities to collectively celebrate and honour him. The grand reception in the ancient city of Ughelli was historic, marking the recognition of a distinguished Deltan who has brought great honour to the state and its people. Obarisi, Senator Ovie Omo-Agege arrived Osubi Airport flanked by Distinguished Senator Peter Nwaoboshi, Hon. Eric Oharisi and Hon. Evance Iwhurie. The streets of Ughelli came alive with jubilation as the former Deputy Senate President and his entourage drove into town. It was a historic moment, characterized by the beating of drums, vibrant displays of cultural pride, and an overwhelming sense of camaraderie among the people. The air filled with chants of joy, and the atmosphere electric with excitement—all painting a ...