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Corrupt politics stalling Nigeria’s economic development —Moghalu

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News of me endorsing Atiku is fake, Moghalu

Kingsley Moghalu, former Action Democratic Congress (ADC) presidential aspirant, has again blamed Nigeria’s retrogressive economy on inconsistent policies. He added that political corruption hindered effectiveness of policies which could have propelled economic growth and development in the country.

Moghalu, who said this via his verified Twitter handle on Tuesday, bemoaned the high rate of poverty in the country, stressing that it was occasioned by lack of economic depth.

According to him, Nigeria would experience massive economy growth with a truly genuine political economy.

The former Deputy Central Bank Governor also advocated economic philosophy for the betterment of the country.

He said: “If we don’t fix our political economy, we can’t have a good economy and many more millions will continue to fall into poverty. Same result if we don’t fix our economic philosophy. Our corrupt politics of a rentier state prevents good economic management.

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“The absence of economic philosophy means our economic policies lack depth, are inconsistent, and are misaligned. These two factors are why Nigeria has thousands of brilliant economists but our economy works against us. China’s economy was built by engineers, Singapore by lawyers.”

Earlier in an interview on Arise TV, Moghalu hammered on the need for the country to pay attention to policies that would facilitate smart economic growth.

He noted that his presidential bid was rooted in his unwavering desire to forge a pathway for Nigeria’s economy to thrive.

Even after exiting ADC for failure to secure its presidential ticket, he promised to always take part in the political and economic processes to better the country.

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