Genuine Business Owners In Nigeria Are Suffering – Professor Moghalu

Former Central Bank of Nigeria (CBN) deputy governor, Professor Kingsley Moghalu, has said genuine business owners in Nigeria are suffering due to the difficult business environment.

Professor Moghalu said the tough business environment can be blamed on insecurity and bad economic policies of political officeholders.

The President of the Institute for Governance and Economic Transformation Africa explained that politicians with an entitlement mentality cannot create a prosperous economy.

On his X handle, on Tuesday, the former CBN deputy governor said this in reaction to the current state of Nigeria’s economy amid hardship and the #EndBadGovernanceinNigeria protest.

The Professor of Political Economics emphasized the need for Nigerians to elect a leader who will address issues of security and electricity to turn the country’s economy into a productive one.

Professor Moghalu said, “I truly feel for the millions of genuine entrepreneurs, small and big, in Nigeria, who are trying to make an honest living and create wealth. But the business environment is so difficult, largely because of insecurity and bad governance.

“Politicians with an entitlement mindset simply can’t create a prosperous economy. Because they can’t fix the root causes of our problems: no education, hence 20 million out of school children (the highest ratio in the world), hence no jobs, hence no security. No electricity, hence no productivity.”