Replace Nigeria's patrimony of oil with the politics of hope: Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria

Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria

For too long, Nigerian leaders have acted as though the only decisions they had to make concerned who should get what.

When Muhammadu Buhari, the newly elected president, announces his ministerial appointments at the end of the month, he should make clear that his government will follow a different course. He and his colleagues have the power to improve the fortunes of all Nigeria’s people.

Africa’s most populous country faces huge challenges. Its economy, which is also the continent’s largest, has been battered by external shocks, which have been amplified by its excessive reliance on crude oil revenues. As oil prices have fallen, several states became unable to pay workers salaries and have had to be bailed out by the federal government.

Read more: Replace Nigeria’s patrimony of oil with the politics of hope – FT.com

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