Economic Hardship: Moghalu advocates 50% cut in salaries of political appointees, NASS members

A 50% reduction in the wages and allowances of National Assembly (NASS) members and political office holders has been advocated by Kingsley Moghalu due to the current economic hardships facing the nation.

This was stated by the economist, who is a former deputy governor of the Central Bank of Nigeria (CBN), during his appearance on Politics Today on Channels Television.

He claims that even if Nigeria is suffering as a result of the termination of petroleum subsidies, the culture of governance in the nation supports luxury among political figures and appointees.

“The culture of governance is a very important issue that needs to be addressed and the tone has to be set from the top – from the presidency down. It has to include the National Assembly because a lot of resources go there and they are supposed to be independent of the executive,” Moghalu said Monday.

“So, they themselves must come on board, examine themselves, and say: ‘Look, even if we have been making this mistake in the past, we cannot continue this way. We have to cut our salaries.’ I recommend a 50% cut for all political office holders and all national legislators. It would make people a little bit more sober. It would make them understand that we are in hard times.”

Citing certain Scandinavian nations where their leaders commute by bicycle and public transport, Moghalu contended that Nigeria’s government culture prioritises self-interest over the needs of others.

“So the culture of governance –  all these excessive demonstrations of power and influence  – is a very negative culture because it shows that government is not for service,” he maintained.

“It is for self-aggrandisement. It is for political power for its own sake, not for leadership and service.”

Moghalu questioned the political leaders for failing to imitate what he saw in wealthy nations, asking why everyone in the nation desired a siren and a lengthy convoy.

He faulted the country’s quest for more loans, saying the monies are not used for the right things.

“So, my comment is simply a reflection of the fact that the political class in Nigeria – more broadly – has prevented the economic progress of the country because of their own self-seeking and rent-seeking behaviour,” the former presidential candidate added. “This is the problem, not borrowing.”

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