Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu suggests that Nigeria’s economy cannot grow without good governance.
Making this known in a tweet on Saturday night, Mr Moghalu explained that the economy and good governance were interwoven.
“Nigeria’s economy cannot grow inclusively without good governance. Good governance includes things like the rule of law, which makes investment and contracts dependable. It includes things like transparency, which limits corruption. It includes effectiveness, the ability to make and execute public policy (including economic policy) that takes people out of poverty and into at least basic comfort and possibly prosperity. So the economy and governance are interwoven. How to do this is our work,” a tweet by Mr Moghalu read.
His comment comes at a time when Nigerians are suffering the hard-felt impact of the recent removal of fuel subsidy.
Bola Tinubu, on assumption of office as the country’s president, immediately announced the removal of fuel subsidy. A move that saw the pump price of fuel jump from about N189 per litre to over N600 per litre.
News About Nigeria recalls that the prices of commodities have continued to rise in the aftermath of the recent removal of fuel subsidy.
However, in other to cushion the effect of the recent subsidy removal, President Tinubu embarked on some palliative measures including he distribution of food items to vulnerable members of the communities.
