NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Buhari’s regime has worsened Nigeria’s problems: Soludo

By News Express on 11/03/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 875

•Ex-CBN Governor, Prof. Chukwuma Soludo.
•Ex-CBN Governor, Prof. Chukwuma Soludo.

For the umpteenth time, former Central Bank of Nigeria (CBN) Governor, Prof. Chukwuma Soludo, took a swipe at the Muhammadu Buhari administration over its management of the economy.

He said the present government inherited a wobbling economy but “it is also depleting the foreign reserve it met”.

According to him, Nigeria is in dire need of help to wriggle out of its economic turmoil.

Soludo spoke at the Vanguard Economic Discourse tagged, “The hard facts to rescue the Nigerian Economy” held in Lagos.

The ex-CBN helmsman who was the keynote speaker at the event attended by key players in the nation’s economic sector said Nigerians continue to bear the brunt of the country’s economic instability.

He said: “The unique thing about the topic of the event is that Nigeria is in dire need of help. But I wished that the topic is centred around the new economic plan. There is no doubt that the present government inherited a depleting economy but it is also depleting the foreign reserve it met.

“If it had even grown it by 50 percent, it would have been a different story by now. Workers have suffered the most in the present government being owed arrears which reduces their nominal life, more so as inflation has hit the roof.” 

Soludo stressed that Nigeria must strive to remove the uncertainty in the exchange rate regime, pointing out that any serious post-oil economy would entrench a decisive exchange rate regime. 

“There is no doubt that government means well, as the saying goes, the road to hell is always filled with good intentions. We have wasted too much time to reinvent the wheel and Nigerians are paying for it. What Nigeria needs now is statesmanship politics,” he added.

Speaking along the same line, a former deputy governor of the apex bank, Dr. Obadiah Mailafia, tagged the government’s economic blueprint a fire brigade to get the country out of recession.

He suggested that the solution lies in industrialisation, saying, “I dare say that we must industrialise or perish”.

Minister for Solid Minerals Development, Dr Kayode Fayemi insisted the government needs oil money to diversify, saying it cannot perform magic.

“Diversification is not tantamount to ignoring oil and gas. It also means making good use of the revenues of the oil and gas. There is no doubt that the government is underperforming but we can also see that our tax system is one of the very lowest”, he said.

•Adapted from a Daily Trust report.

Source News Express

Posted 11/03/2017 12:31:09 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Ayuba Wabba’s NLC

136 arrested over xenophobia mayhem in South Africa...

Senate committee to quiz IGP

Anambra Guber: Elders, youths in Nwoye’s home town...

Ex-Landlady unmasks President Jonathan’s childhood days in Oguta...

Oba on trial for fraud claims supremacy over...

Breaking: Biafra protesters shake Anambra for second straight...

Aguata (Anambra) stands still as Anglican Primate opens...

6 authors win $200,000 NLNG prize for science,...

Cross River Governor suspends commissioner, MD for lateness...

NYSC Camp opens Thursday, Call-Up Letter now printable...

Working with Obasanjo was like going to school...

 

Latest News Shell to invest $15bn in Nigeria Falling tree kills 3 undergraduates REVEALED: Names of 5 suspected thugs who invaded Senate, snatched and disappeared with mace Niger State Government set to employ 500 youths EFCC to invite Kwankwaso, Wamakko over fraud 7 Nigerian universities incorporated into world technology network Patients withdrawn from NAUTH as health workers’ strike bites harder Emir of Daura begs Buhari to reconsider Peace Corps Bill Germany to take in 10,000 refugees Wike sues FG, IOCs over soot pollution •Accuses govt. of depopulating Rivers PDP blames APC, Presidency for invasion of Senate, theft of mace FG orders probe of National Assembly invasion

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (338,663 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (333,463 views) Shameless Genevieve Nnaji exposes breasts in public (266,832 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (219,276 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (201,502 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (197,366 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,153 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (154,546 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (146,513 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,140 views) Lagos plane crash: Journalist releases victims’ names (136,253 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,003 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,056) Business Verdict (40) Columnists (833) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (475) Features (568) Global Business Monitor (261) International (1,914) Interview (149) Live Commentary (28) Love Matters (116) News (34,576) Opinion (914) Pidgin (10) Politics (4,774) Religion (722) Sports (1,482) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Thugs invade Senate, snatch Mace

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement