In a recent statement, Professor Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, criticized the current administration of President Bola Ahmed Tinubu, emphasizing that the government should not rely solely on hope as a solution to the country’s economic difficulties.

Amid economic hardship and worsening poverty in the country, former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu has stated that hope is not a strategy.

This is even as he said that he’s hopeful about Nigeria despite sustained contemporary difficulties.

Moghalu, a political economist and presidential candidate in the 2019 elections, expressed concerns over the rising levels of hardship faced by Nigerians and the government’s failure to provide effective strategies to address these issues.

According to him, Nigerians must learn to be honest with themselves and address the root causes of their problems.

Despite sustained contemporary difficulties , I am hopeful about Nigeria. But hope is not a strategy. We need to improve state capacity for effective governance . We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.

— Kingsley Moghalu OON (@MoghaluKingsley) November 22, 2024

In a post on his X handle on Friday, Moghalu wrote:

 “Despite sustained contemporary difficulties, I am hopeful about Nigeria.

“But hope is not a strategy. We need to improve state 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.”

Moghalu also called for greater accountability, urging the government to prioritize the welfare of ordinary Nigerians and ensure that the economic policies benefit the masses rather than the elite. His remarks have sparked debates about the effectiveness of the current government’s approach to managing the economy and alleviating the hardship faced by many citizens.

This criticism adds to the growing calls for more concrete measures to tackle Nigeria’s deepening economic crisis.