Cut 50% Salaries of Politicians we are in hard times says Kinsley Moghalu
Kingsley Moghalu has recommended a 50% cut in salaries and allowances of political office holders and members of the National Assembly (NASS) owing to the economic hardship in the country.
The economist, who is a former deputy governor of the Central Bank of Nigeria (CBN), said this when he was featured on Channels Television’s Politics Today.
According to him, despite the hardship facing Nigeria in the wake of the petroleum subsidy removal, the country’s governance Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria and economist, has suggested a 50% reduction in the salaries and allowances of political office holders and members of the National Assembly due to the economic challenges facing the country. He made this proposal during an appearance on Channels Television’s Politics Today.
Moghalu emphasized the need to address the culture of governance in Nigeria, which often promotes extravagance among political leaders and government appointees. He stressed that this change should start from the top, including the presidency and the National Assembly. According to him, it is crucial for these officials to assess themselves and acknowledge the need to cut their salaries by 50%, which would serve as a signal that they understand the difficult economic situation in the country.
He also pointed out that in some Scandinavian countries, political leaders use mass transit and even bicycles to commute to work, highlighting the contrast with Nigeria’s governance culture that prioritizes self-service over public service.
Moghalu criticized the excessive displays of power and influence within the Nigerian government, arguing that they reflect a negative culture in which the government focuses on self-aggrandizement and political power rather than genuine leadership and service to the people.
He questioned the obsession with sirens and long convoys among the country’s political elite and expressed concern about the misuse of borrowed funds, suggesting that the problem lies in the self-serving and rent-seeking behavior of the political class rather than in borrowing itself.