Tinubu’s govt inherited ‘dead economy’ – Soludo

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The Governor of Anambra State, Prof. Charles Soludo, has urged Nigerians to be patient with the administration of President Bola Tinubu.

He said the Tinubu administration inherited “a dead economy” which would require time to turn around.

Soludo’s assertion mirrored that of National Security Adviser (NSA), AIG Nuhu Ribadu (rtd), who stated that Tinubu inherited “literally a bankrupt country” from his predecesoor.

Speaking during an interview on Channels TV’s Politics Today on Thursday, the Anambra governor condemned the past Federal Government under Muhammadu Buhari of borrowing incessantly from the Central Bank of Nigeria (CBN).

Soludo, who is a former CBN governor, said that this caused the apex bank to frequently print money, which contributed to weakening the naira.

According to him, the alleged illegal printing of money violated the CBN Act 2007.

“We sat here in this country and saw the monetary authorities literally printing money.

“And to prevent us from getting to where we are today, that was why we had an explicit clause that prevented the Central Bank from lending recklessly, granting ways and means to the federal government.

“This particular government inherited a dead economy from a micro economic point of view; this government inherited a dead horse that was seen standing but people didn’t know that it was dead. I think it’s important for Nigerians to understand this,”

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John is a University of Lagos-trained journalist who has read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. He's an expert Scrabble and draughts player who is also excellent at swimming.
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