Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria (CBN), has raised concerns about Nigeria’s economic struggles and the rising poverty in the country, stressing that hope alone is not enough to resolve these issues. While expressing optimism for the future, Moghalu called for a shift in governance strategy to address the root causes of the nation’s ongoing challenges.

In a recent post on X, Moghalu pointed out the need to strengthen the state’s capacity to govern effectively, stating, “Despite the current challenges, I remain hopeful about Nigeria. But hope alone is not enough. We need to strengthen state capacity for effective governance.” He emphasized that unless Nigeria confronts its issues head-on, the country risks being overwhelmed by its problems.

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Moghalu’s remarks are a direct appeal to the Tinubu administration, urging a more proactive and honest approach to tackling Nigeria’s economic difficulties. He added, “We must fix our problems or risk being overwhelmed by them. There is no alternative to a renegotiated union.” He further stressed that ignoring these challenges could eventually harm all Nigerians, including those currently benefiting from the existing system.