Nigerians may need to brace up for harder times as the Governor of the Central Bank of Nigeria, Godwin Emefiele, has made some gloomy revelations about the country’s economy.
The CBN governor, in a closed-door meeting with the Senate, disclosed that the Federal Government might not be able to pay its workers’ salaries, effective from October this year if the current economy decline continues.
Emefiele further stated that if the present situation in the country continued, Nigerians would be forced to pay general taxes, which would not exclude petroleum products.
In the meeting, Emefiele presented a comprehensive account of the economy in the last one year which he said not in a good state.
This report is coming following the recent damning forecast made by the International Monetary fund about the Nigerian economy.
Nigeria’s inflation rate has also hit an 11-year high.
‘Some animals are more equal than others.’
The Jonathan’s administration was actually on a great mission, to redeem Nigeria’s economic fortune. The problem was that Jonathan lacked the political will to fight corruption. He had a great economic team and was able to identify and attract good brains. This is exactly what Buhari’s government lacks. Our economic problem didn’t really start with Buhari’s administration, but i will admit that Buhari mismanaged the situation he met on ground. He has too many bubbles in the air at the same time. Another thing that crippled Jonathan’s government was his inability to confront the peace and security breach(Boko Haram) in the country. I truly sympathize with him in this area because the personalities behind the boko haram funding and insurgency were so powerful and they are the very people in government today. Buhari can not successfully fight or stop corrupt practices in Nigeria, just as Obasanjo was unable to to much. But i think Jonathan should have made as much noise as the others did in the past and PMB is doing today. It’s truly difficult to fight or stop corruption in a democratic administration. PMB is old and sometimes confused. I don’t envy PMB.
… and what gave you the impression the present govt is doing better at curbing corruption? What happened to the over 4 trillion Naira tax collected in the last one year? No single km of road has been tarred. That money was almost enough to run previous budgets!