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Nigeria’s debt burden a product of poor economic policies – Moghalu



Presidential aspirant of the Young Progressive Party (YPP), Professor Kingsley Moghalu, has described the new Coalition of United Political Parties (CUPP)

A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, on Wednesday blamed the country’s massive debt burden on the poor economic policies of President Muhammadu Buhari’s administration.

Moghalu, who is African Democratic Congress (ADC) presidential aspirant, stated this when he featured in a Channels Television programme, Politics Today.

He picked the ADC nomination and expression of interest forms on Tuesday in Abuja.

The ex-CBN deputy said he would take proactive actions in tackling the country’s challenges if elected as president in 2023.

He also promised to create temporary employment funds for university graduates in the country.

READ ALSO: Buhari’s aide, Tolu Ogunlesi, questions Kingsley Moghalu’s proposed tax policy

Moghalu said: “I will not wait for Nigerians to weep before taking action. I will use political will to fight insecurity in the country and take the fight to the bad guys because the life of a Nigerian is important. Proactive action, not reaction is necessary to end the problem.

“Government does not create jobs, rather it creates an enabling environment and funds for the youth to thrive. We will create employment funds for graduates coming out of universities for like six months or more.

“This will be followed by practical approaches. I will manage the economy from an empirical approach. As it is today, our economy is not being managed from a place of knowledge and philosophy. I will do that. I will be different and mobilize the best economic minds and competent people for higher chances of success.

“ I will pursue strong industrial policies and innovation to change the country. Of course, no investors will be confident to operate in an insecure environment. That’s because of our security and others.

“Yes, the issue of massive debt burden is occasioned by the poor economic policies of the government. I will ensure I reverse this trend with ultra-effective policies for change to emerge.”

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