Former CBN Governor Charles Soludo , said Buhari administration has worsened Nigeria’s economy.

Former Governor of the Central Bank of Nigeria (CBN), Prof. Charles Soludo has said that the Buhari administration has worsened Nigeria’s economy.

Soludo also said he acknowledges that the current government inherited a bad economy, but said they made it far worse than it was.

According to Daily Post, he said Nigeria is not just in a recession, but in a massive compression.

Soludo said this on Wednesday, March 1, 2017, at an event - Big Ideas Podium, organised by the African Heritage Institution.

The former CBN Governor also said “Nigeria is now, some say a fragile state, some say a failed state; it is not going to be a tea-party to come out but unfortunately, we are not taking it serious.

“Nigeria is not just in recession but in a massive economic compression; it will be a miracle for the present APC administration to return this country to the dollar size it met in May 29, 2015, if it stays for 8 years, that’s till 2023.

“It is business as usual; propaganda, lies, double-speak. Current government is fighting corruption, insecurity, but we say to them, enough of the blame gain.

“They inherited a bad situation but they have made it several times worst; getting us out here is not a tea-party like I sad before. Nigerians should rise in unity; it should no longer be ‘let them’; only united citizens can rescue Nigeria out of this position.”

He also called on the masses to hold the Nigerian government accountable, while advocating for what he called Citizen United.

“My idea is that of Citizen United; we won’t get the leadership that we deserve; we won’t get the leadership that we want; we will get the leadership that we demand.

“They gave us manifestos, promised a lot and we said ‘yea’; how many have gone back to check how far them are implementing those promises; if any party implements 25 percent of its manifesto, Nigeria will get better.

“If you check any State run by APC, PDP or APGA, the three parties that have Governors, can you see spot any difference in any of those States that will distinguish one party from another, it is the same.

“APC said in its manifesto that it will restructure Nigeria, that Nigeria was not one, but after election, has anybody heard about it (restructuring) again? They control 23 States and the National Assembly, all they need is one more State to get the required 2/3; so they have what it takes, but they are not talking about it again.

“If we don’t rise to hold them by the jugular, Nigeria cannot go anywhere. We have to start preparing for a post-oil economy; insanity is to repeat the same thing over and over again and expect different result.”

Prof. Charles Soludo was the Governor of the Central Bank of Nigeria (CBN) from 2004 to 2009.