Why I didn’t reject Buhari’s offer - Soludo.
The former Governor of Central Bank of Nigeria (CBN), Professor Chukwuma Charles Soludo, has revealed that he almost rejected President Muhammadu Buhari’ s appointment on the advice of one of his friends.
The technocrat turned politician made this revelation on Thursday during the annual conference organized by Covenant Christian Centre in Lagos.
Soludo, one of the eight members of the Economic Advisory Council unveiled by the president last week, said: “When I was named as member of the Economic Advisory Council, a friend called me, spoke in Igbo: ‘leave their job for them’
"I asked why, he said ‘but there’s no money there now, just a committee … that’s how we reason in Nigeria."
The economist noted that the constitution was not sustainable and could not carry Nigeria and its citizens for long.
“Our constitution, together with its command and control institutions concentrated at Abuja, was designed for and around the sharing and consumption of the oil rent," he stated.
“It is largely obsolete for the demands of a production economy without oil rent which requires competitive and flexible rather than unitary federalism.
“As the oil rent is tapping off, its internal contradictions have burst open, requiring a lot of survival mechanisms to keep the system afloat. But for how long?"