Governor Charles Soludo of Anambra State says the adminsitration of President Bola Tinubu inherited a dead economy.

Soludo stated this while commenting the current naira-dollar exchange during an interview on Channels TV’s Politics Today.

The former governor of the Central Bank of Nigeria (CBN) said part of the problem was that that the apex bank was illegally printing money in total violation of the 2007 Act governing the finacial institution.

Charles Soludo said, “We must realize where we were coming from. 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 landing recklessly, granting ways and means to the federal government.

“We explicitly put into the law that you can’t grant the federal government more than 5% of the previous year’s actual revenue. And that so granted must be retired by the end of the year in which it was granted. And when the federal government fails to retire, the central bank is forbidden by that law from further advancing ways and means. That was the law 2007 act of the Central Bank.

“But we sat all of us Nigerians watching the CBN illegally and brazenly violating that act year on year and kept on printing money. That is when advance money is not backed by nothing; you just credit the federal government with trillions N 4 trillion, N10 trillion, N15 trillion and we kept going.

“I said it before. 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.”

Speaking while advancing negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank in Saudi Arabia earlier in the month, Tinubu said his administration inherited serious liabilities from his predecessors.

He said Nigeria has serious deficits in port and power infrastructure, as well as agro-allied facilities.

SOURCE:
https://nigerianstreet.com/2023/11/23/tinubu-govt-inherited-dead-economy-soludo/

He should know before taking the job, and i believe he knows. Since he accept the responsibility he’s is obliged to deliver. Not complain of what’s not available to get the job done

And he has dead idea to revive it, double wahala for dead bodi.

He will leave a dead economy for his successor too. It’s normal for every new 9ja leader to claim he inherited a dead economy.

OP unfortunately for you someone else already posted the truth that it was a CRITICISM of Tinubu.
See below

Nwodosis:
And he has dead idea to revive it, double wahala for dead bodi.

Prof dey yarn una fact, una dey wail. Just subsidy removal una dey cry. Subsidy is gone and our refineries wey una gather hand kill are coming back to life pretty soon. Na una dey support Emefiele but hear wetin Soludo talk about Emefiele.

PoliteActivist:
OP unfortunately for you someone else already posted the truth that it was a CRITICISM of Tinubu.
See below

Na God go punish that hungry blogger and those people wey dey believe am.

Tea noobu is just a puppet


The sooner you realise the better



I won't go into much details because of security liasonns on here

APC inherited a dead economy from APC?

A dead economy that can afford billions of naira worth of luxury cars for Tinubu's family?

The same people who praised Buhari to high heavens are here also telling us that he killed the economy.

And to think that all these happened and normal humans still went ahead to reward APC with votes based on religious and regional sentiments.


We're not ready yet

Hehehe! You wants the mam with many dirty criminal pasts to perform wonders? Even Charles Soludo is a failure as an economist.

Have you read the news yourself ?
When you do am sure you will understand he wasn't criticizing Tinubu like you wanted.

Tinubu did not introduce naira redesign policy which is the only thing he spoke against in the entire article n explicitly stated Tinubu inherited a dead economy only able to stand after the CBN as be printing money it can't back up after they left office.

So what more do you have to say ?

PoliteActivist:
OP unfortunately for you someone else already posted the truth that it was a CRITICISM of Tinubu.
See below

Alaigbo:
Have you read the news yourself ?
When you do am sure you will understand he wasn't criticizing Tinubu like you wanted.

Tinubu did not introduce naira redesign policy which is the only thing he spoke against in the entire article n explicitly stated Tinubu inherited a dead economy only able to stand after the CBN as be printing money it can't back up after they left office.

So what more do you have to say ?

Well, all I can do is post the headline and beginning of the actual article verbatim. See it below

It was TINUBU that forced dead buhari upon Nigeria. So TINUBU is 1000% responsible for what ever he inherited from buhari.

Well, Buhari borrowed money like his life depended on it. The man just went on borrowing spree. To make it worse, both him and Emefiele removed all cash in circulation. Though Tinubu's policy is not any better, in fact, it is worse

michlins:
The same people who praised Buhari to high heavens are here also telling us that he killed the economy.

And to think that all these happened and normal humans still went ahead to reward APC with votes based on religious and regional sentiments.


We're not ready yet

So sad.

Nigerian politics can make the world's smartest man sound so dumb and empty. The way I see this Soludo, this man will decamp to APC immediately he's done as governor.

A governor who is supposed to be in the opposition and keep the leaders in Abuja on their toes is serving as their spokesman.

Pakute:

Prof dey yarn una fact, una dey wail. Just subsidy removal una dey cry. Subsidy is gone and our refineries wey una gather hand kill are coming back to life pretty soon. Na una dey support Emefiele but hear wetin Soludo talk about Emefiele.

It’s still APC in continuum, so what’s the issue here ? The party failed . They purportedly came in to rescue the country from pdp but what did they do ?
Whatever Emefiele did was done at the behest of the President. It’s crazy how you singled out Emefiele and conveniently avoid mentioning his boss. This level of hypocrisy is astonishing .

It started right from the time of President Jonathan. Buhari tried his best to bring it to live, he did a good percentage of the recovery process and Tinubu will complete the recovery process.

optionalY09:
He should know before taking the job, and i believe he knows. Since he accept the responsibility he’s is obliged to deliver. Not complain of what’s not available to get the job done

Coming from a slowpoke

The question is where did the dead economy inheritance come from and rhe answer is APC government of Buhari. Osinbanjo that was foisted by a Tinubu lead party and who planted the people that gave them the dead economy APC that was founded by Tinubu and Buhari.

Soludo, where is the Taiwan you promised anambra people?

Craze people the same clueless buhari that urchins and sycophants praised and defended for 8years as the best while blaming Jonathan.

Man wey sabi, unlike......

But this thesame Soludo was part of Board member in CBN and Economic think tank of the Buhari administration .....