Charles Soludo, former Governor Central Bank of Nigeria, has reacted to the planned sale of national assets by the federal government.
Soludo, in an article titled ‘Nigeria: Sale of assets as dangerous policy myopia?‘, said the suggestion to urgently review legislations that impede the economy and enact new ones was commendable.
The former CBN boss said “The National Assembly and the Presidency should declare an emergency on these legislations and ensure that they deliver on them over the next 100 days for the sake of Nigeria.
“I expected this to have been done within the first 100 days of this administration.
“I am not in the habit of joining issues except when I consider the matter critical.
“Specifically, I am troubled by the proposal to sell some valuable national assets in order to ‘build reserves and provide funds for immediate spending’ and thus ensure that this recession will be the ‘shortest’ ever.
“Some people had bandied the same suggestion in the past but I largely dismissed it as a joke.
“But when the Senate and NEC joined the convenient but flawed call for asset sale, I have a citizen duty to join others in letting our voice be heard.
“Part of the legacy of the oil resource curse on matters of public finance is a mindset that resorts to easy, albeit lazy approach to ‘quick fixes’ – with a gaze on the short term even when the issues are structurally long-term.”
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