A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has strongly criticised the administration of President Bola Tinubu, asserting that “hope” is not a sufficient strategy to address the nation’s economic challenges and rising poverty levels.
In a post on his X handle on Friday, Moghalu acknowledged the difficulties Nigerians are facing but maintained his optimism for the country’s future.
He, however, stressed that Nigeria must strengthen its governance structures and improve the state’s capacity to manage its resources effectively.
Moghalu’s comments come at a time when Nigerians are reeling from the effects of key government policies, including the removal of the fuel subsidy and the floating of the naira.
While the government has defended these measures as necessary to stabilize the economy, many Nigerians have expressed concerns over the immediate impact on their livelihoods.
The former CBN deputy governor emphasized the need for Nigerians to confront the real causes of the nation’s problems, urging a more honest and strategic approach. “Hope is not a strategy,” he declared, calling for a fundamental reassessment of the country’s issues rather than allowing them to worsen. He also warned that if the current approach continues, everyone, including those who may feel they are benefiting from the status quo, will ultimately suffer the consequences.
Moghalu advocates for a “renegotiated union,” urging the government to address the root causes of Nigeria’s challenges to avoid future disaster.
According to Moghalu’, “Despite sustained contemporary difficulties, I am hopeful about Nigeria.
“But hope is not a strategy. We need to improve the state’s capacity for effective governance. We either fix our problems, or our problems will eventually ‘fix’ us. No alternative to a renegotiated union.
“We must learn to be honest with ourselves and address the root causes of our problems. Why ignore them, when the problem is actually quite solvable?
“The problem with continuing with this approach is that when the danger crystallizes, those who thought they were benefiting from the status quo will find that we ALL – they included- will be losers.”
