Buhari Inherited A Bad Economy But He Has Made It Worse- Charles Soludo

Former Central Bank governor, Charles Soludo, yesterday, said that
President Buhari inherited a bad economy but made it worse. The former
CBN chief said this when he spoke at the ‘Big Ideas Podium’, a public
policy debate organised by the Afri Heritage Institution in Enugu.

According to him, Nigeria’s economy is in a massive compression.

“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. 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

Speaking further, he said

“If you see the governments run by APC, PDP and APGA, they are all the
same, because Nigerians don’t hold them accountable. We must resolve as
citizens not to let government off again; peaceful agitation must be
encouraged and tolerated in this country. Everybody must be allowed to
have a voice. For example, the APC promised us that they were going to
restructure Nigeria before the elections. They said the current
structure was not working, they said that Nigeria was becoming a failed
state, but now they are in power and they are not getting it done.
Unless we citizens rise up and tell the government ‘deliver on what you
promised’, they will not get it done. 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. 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.
Change is a struggle. Change is never given by a benevolent elite. No
change is given by the government. The people always had to ask for
change. Nigeria has been waiting for a benevolent leader since 1960 but
he has not come. You will get the type of leader that the people demand.

The change we think we need will never be given to us. We have to demand
it. We have to agitate for it, and it is the sustained agitation that
will bring about the change. Citizens should get involved and stop