Moghalu Decries Nigerian Economy Over-Reliance On Oil

What Moghalu Said About Buhari’s Directive To CBN

File Photo. Kingsley Moghalu

Presidential candidate for the Young Progressives Party (YPP) in the 2019 presidential election, Prof. Kingsley Moghalu has expressed concern on the nation’s reliance on oil as a major source of revenue generation.

While citing the examples of developed countries, Moghalu recommended technology and innovation as alternatives for Nigeria’s economy.

Concise News understands that he stated this at the 10th Nigeria Meritorious Service Award and Nigeria Political Achievers Award organized by the Federation of West African Freelance Journalist Association in Abuja.

The event, which ended on Friday night, was organized to honour some Nigerians who distinguished themselves in politics and other fields.

Moghalu, who is also the former Deputy Governor of the Central Bank of Nigeria (CBN), said that oil belonged to ”the distant age; the world today is of technology, innovation, and science”.

According to him, the country needs a government that will give youths a sense of purpose and employment to achieve their destinies.

“In the future, we don’t have to continue the political system the way it has always been,” Moghalu said.

He observed that political leaders should be judged by their achievements in office in terms of job creation and economic growth.

”To have the desired change in the country, every Nigerian must change the way they think and act,” he advised.

Recall that Kingsley Moghalu has said that selfishness on the part of elites in the north is the cause of poverty in the region.

This news medium learned that Moghalu said this on Sunday while speaking at the Ra’ayi Initiative for Human Development (RIHD) annual lecture in Kano.

Moghalu said: “The problem with the north is the north versus itself”, efforts to reposition the north would begin with changing the people’s mindset.

“Rather than put inadequate measures to address poverty in the region, the northern elite has been focused on their selfish and political aggrandizement.

“Selfishness of the northern political class remains the major cause of poverty and under-development in the region.”

The former deputy governor of the Central Bank of Nigeria (CBN) said northerners should prioritize human capital development as there is a great need to fight youth unemployment, drug abuse as well as empower women in the region.

“The north must be modern. Nigeria and northern Nigeria will not make progress until Nigeria is constitutionally re-structured,” he added.

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Babatunde Adedayo Oluwafunmilayo is a Mass Communication graduate of Nigerian Institute of Journalism (NIJ), she is also an Associate Member of Nigeria Institute of Public Relations (NIPR). Adedayo loves writing motivational stories and poetry books. Her passion for reading cannot but be overemphasized.

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