Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria (CBN), has expressed optimism about Nigeria’s future but emphasized that hope alone cannot resolve the country’s ongoing economic hardship. He stressed that the country must focus on improving state capacity for effective governance in order to tackle its challenges.
Moghalu urged Nigerians to be honest with themselves and confront the root causes of the nation’s problems. He warned that if these issues remain unaddressed, those who believe they are benefiting from the current system will eventually realize that they, too, are affected by the worsening situation.
In a post on his X handle, Moghalu said, “Despite sustained contemporary difficulties, I am hopeful about Nigeria. But hope is not a strategy. We need to improve state capacity for effective governance. We either fix our problems, or our problems will eventually ‘fix’ us.”
He added that the country must engage in a “renegotiated union” to overcome its challenges and emphasized that the problems are solvable if addressed honestly. According to him, continuing with the current approach will lead to collective losses, with no one immune from the consequences.
Moghalu’s call highlights the need for Nigeria to prioritize structural reforms and governance improvements in order to avoid further economic decline.
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