Moghalu Decries Nigeria’s Continued Dependence On Oil


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

Moghalu, who spoke in Abuja at the 10th Nigeria Meritorious Service Award and Nigeria Political Achievers Award organised by the Federation of West African Freelance Journalists Association, recommended technology and innovation as alternatives, citing the examples of developed countries.

The event was organised to honour some Nigerians who distinguished themselves in politics and other fields.

Moghalu, a 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 was in need of a government that would give the 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, even as 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 most change the way they think and act,” he advised, even as he called on the CBN to be truly independent to ensure enhanced performance.

According to him, when independent institutions such as the CBN got directives that might serve transient political purpose, the long term effect would not be the best for the country

The post Moghalu Decries Nigeria’s Continued Dependence On Oil appeared first on Independent Newspapers Nigeria.

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