Tinubu vs Buhari: Governor Solude Reveals Real Spoiler of Nigeria’s Economy

Nov 24, 2023 | Uncategorized

  • The Anambra state governor, Charles Soludo, has blamed Nigeria’s economic misfortune on President Bola Tinubu’s predecessors, including ex-President Muhammadu Buhari
  • Soludo, a former CBN governor, said the current administration inherited a dead economy, adding that Nigerians need to know
  • The Anambra governor also accused the CBN of violating the 2007 Bank Act by printing money illegally

Awka, AnambraCharles Soludo, the government of Anambra state, has explained that President Bola Tinubu inherited a “dead economy” from the past administrations, including former President Muhammadu Buhari.

In an interview on Channels Television on Thursday, November 23, the governor made the assertion while reacting to the execution of the Central Bank of Nigeria (CBN)’s policies.

Bola Tinubu/Charles Soludo/Muhammadu Buhari/Goodluck Jonathan
Governor Soludo reveals origin of Nigeria’s economic problem
Photo Credit: President Bola Tinubu
Source: Twitter

The governor said:

“This economy inherited a dead economy. From a macroeconomic point of view, this government inherited a dead horse that was still standing, and people didn’t know it was dead.”

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Governor Soludo explains Nigeria’s major economic challenge

Soludo explained that it was not possible to pour water on the rock and expected it not to get wet. According to him:

“There are humungous challenges, and I think it is important that Nigerians understand this and it is not a tea party.”

Soludo, a professor and former governor of the Central Bank of Nigeria (CBN), explained the role he played in running monetary structures when he was served at the apex bank between 2004 and 2009.

How CBN ruined Nigeria’s economy, Governor Soludo

The Anambra governor then accused the CBN of printing money illegally, while tracing the source of Nigeria’s economy to the development.

Governor Soludo maintained that Nigerians need to understand where the problem started, adding that everyone kept mute when the CBN was carrying out the illegal act of printing money.

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He recalled his role in the drafting of the 2007 Bank Act, adding that they tried to prevent the country from where it was today by having the clause that the CBN can’t lend recklessly to the federal government.

Soludo said:

“That you can not grant to the Federal Government more than 5 per cent of the previous year’s actual revenue.”

Source: Legit.ng

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