Nigeria’s online newspaper, Premium Times, published a scathing editorial on Tuesday rebuking in no small measure the economic performance of President Buhari and his cabinet.
This is perhaps one of the most viscous editorials we have read in recent times and did not stop at putting the blame of the current economic situation at the door steps of President Buhari and his party despite the latter’s attempt to blame his predecessor, President Jonathan.
The online paper took major swipe at Buhari’s economic team and particularly picked out the current CBN Governor as a major culprit calling for him to resign. Here are excerpts of the editorial.
President Buhari’s government and economic team, as presently constituted, are not optimally equipped for the fundamental tasks ahead..”
President Buhari must rekindle confidence by making changes in his cabinet and the leadership of the CBN. The CBN Governor, Godwin Emefiele’s uninspiring record of performance, as well as his numerous ethical and corruption scandals that appear to have been swept under the carpet, constitute a key factor militating against foreign investor confidence in the Nigerian economy. PREMIUM TIMES strongly believes that there is a need to bring in more renowned, experienced and highly reputed technocrats to lead the CBN and the federal ministries of Finance and National Planning;
Considering the dwindling confidence investors have in our economy, it is necessary that replacements for these positions to be persons with significant international name recognition, intellectual and professional stature and networks in international development finance and global capital markets; for this is what bolsters international confidence in practice;
They also called for the head of the Minister of Finance and National Planning, Kemi Adeosun and Udo Udoma respectively.
Nairametrics had in an earlier in June requested that the Governor resign to pave the way for a return of investor confidence in the market.
Read the full editorial: EDITORIAL: How Buhari Helped Nigeria Into Recession and How He Can Take Us Out Of It