Former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu has suggested that being sidelined by United States President, Donald Trump is exactly what Africa needs.
Moghalu said that "we need to wake up and stop moaning about what Trump "means for Africa".
The ex-CBN Deputy Governor, in a post on his X handle on Sunday, maintained that Africa needs to take its destiny into its own hands and chart its own course.
"Being sidelined by Trump is exactly what Africa needs. We need to wake up and stop moaning about what Trump 'means for Africa'.
"Africa needs to take its destiny into its own hands and chart its own course. Just tired of the 'what Trump means for Africa' discourse of dependency," Moghalu posted on X.
Meanwhile, Dr Samson Simon, an Economist of the ARKK Economics and Data limited warned that Nigeria could witness less FX earnings and reduced government revenue under Trump's administration.
The statement comes as Trump has signed an executive order upon his return to the White House declaring an energy emergency.
Simon said that America drilling oil could mean a glut in oil supply and loss of OPEC market share, with Nigeria being a member of the bloc.
According to the economic expert, Nigeria tends to do badly when price of crude oil on the international falls, adding that the country could see less FX earnings and reduced government revenue.
"America drilling oil could mean a glut in oil supply and loss of OPEC market share (Nigeria being a member of the bloc) with a concomitant fall in the international price of oil.
"And when the price of crude oil on the international falls, Nigeria tends to do badly. As the fall means less FX earnings and reduced government revenue.
"The consolation is that before Trump makes America to rev up its oil production, there would be a lag - meaning that the impact may not be felt immediately," Simon said.
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