Former Deputy Governor, Central Bank of Nigeria and presidential hopeful , Professor Kingsley Chiedu Moghalu, has said that the federal government led by President Muhammadu Buhari have led the country back to debt trap and has called on the government to stop further borrowings in the interest of future generation of Nigerians.
Moghalu stated this while delivering the 2018 Bullion Lecture organised by the Centre for Financial Journalism (CFJ Nigeria) at the Civic Centre,Victoria Island ,Lagos.The event was Chaired by Senator Olabiyi Durojaiye,chairman Nigerian Communication Commission(NCC).
The Panelists included Director General, Debt Management Office, Ms. Patience Oniha,who was represented; Managing Partner, Purple Capital, Mr. Obinna Onunkwo; and Vice President, Government and Corporate Affairs, Olam Nigeria, Mr. Ade Adefeko.The DMO official at the event as expected defended the need for loans.
Among other recommendations that the Presidential hopeful reeled out was the need to scrap the NNPC in its present form ,the need for a national world view for the Nigerian state,the deregulation of the down stream oil sector,the repeal of the land use Act,the establishment of a clear economic philosophy of entrepreneurial capitalism etc
According to him if this was applied aggressively that Nigeria would cease from being the poverty capital of the world,saying that the dependence on oil will no longer work and can never salvage the country from its economic stupor.
Senator Durojaiye in his intervention urged the nation to rise up to the need to make the necessary changes needed to ensure that it does not miss the on-going digital revolution sweeping the world,saying that as the Chairman of Nigerian Communication Commission(NCC)that the are on top of the situation.
He praised the IT skills of Nigerian Youths and posited the readiness of NCC to tap these potentials in its aims of ensuring that the youths are usefully engaged to the overall interest of the nation.
Moghalu, is currently the President, Institute for Governance and Economic Transformation, was until recently, Professor of Practice in International Business and Public Policy at The Fletcher School of Law and Diplomacy, Tufts University, United States of America.But recently declared his interest to contest in the 2019 presidential election.
According to Chief Executive Officer of CFJ Nigeria, Ray Echebiri, the lecture was introduced in the overall interest of Nigeria.He thanked all who graced the event