Soludo proffers solution to Nigeria’s economic crisis

image

Former governor of the Central Bank of Nigeria
(CBN), Professor Charles Soludo says the
government needs to implement a coalition of
economic policies
that can deal with desperate
socio-economic issues for the country recover
economically
– Soludo says Nigeria at the moment is dealing
with political, economic and social shocks
– Calls for communication strategy that effectively
communicates change in a forward looking and
inspiring manner for the citizenry

Soludo has called for the the restructuring of the
Nigerian economy.
Former governor of the Central Bank of Nigeria
(CBN), Professor Charles Soludo, has
recommended the restructuring of the Nigerian
economy from consumption driven to production
based for the country to get out of the its present
challenges.

Soludo who gave the recommendations in his
lecture at the progressive governors forum 4th
progressive governance lecture series, said the
government needs to implement a coalition of
economic policies that can deal with desperate
socio-economic issues in a systematic and
sustainable manner.
According to The Nation, in his lecture titled:
“Building the Economy of States: Challenges of
Developing Inclusively Sustainable Growth, the
former CBN boss Nigeria at the moment is dealing
with political, economic and social shocks.
He noted that the country needs to break the
dynasties of poverty and maximize the comparative
and competitive advantages for the growth in
Nigeria and states to be inclusive.
He said no state can develop sustainably if the
overall governance and economy are in crisis,
adding that Nigeria economy in terms of dollar has
collapsed by about 50 percent.

He said: “Nigeria is facing unprecedented and
tremendous political and economical challenges
with global and local dynamics. Regardless of
these challenges, opportunities and possibilities
abound if we address some fundamental issues.
The key to achieving this is to have a development
plan that is anchored on realizing inclusive and
sustainable growth.

“Inclusive and Sustainable growth cannot be
achieved without conscious efforts to deconstruct
the dynasties of poverty and maximize states and
Nigeria’s comparative and competitive advantage.
“Nigeria is not secured and made politically
sustainable especially through the de-strangulation
of the hold of the federal government over states.”
Encouraging fiscal federalism in ways that allow
states to have greater control of their resources,
evolution of a master plan for mass export
oriented industrialization that answers the
economic questions and realities of today.
“APC developing over-arching vision of Nigeria
without Oil and there should be a coalition of
economic policies that can deals with disparate
socio-economic issues in a systematic and
sustainable manner.
“APC States must develop a peer review
mechanism to track, measure and share knowledge
and experience in order to achieve shared values
that will distinguish APC states from non APC
states.
“There is need for communication strategy that
effectively communicates change in a forward
looking and inspiring manner for the citizenry. This
is important for building consensus for
development, and there should be a coordinating
mechanism for developing the 2017 budget.”
Meanwhile, Reno Omokri, the former special
assistant on new media to ex-president Goodluck
Jonathan has said that former president Goodluck
Jonathan handed
over the best Nigerian government, and the largest
economy in Africa to President Muhammadu
Buhari.
Omokri, an ordained pastor, in a series on Tweets
on Wednesday, August 24, stated how the former
president took over and handed the best
government to the present administration.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s