Former Deputy Governor of the central bank, CBN, Kingsley Muoghalu has lauded the economic policies of Peter Obi, the presidential candidate of the Labour party ahead of the forthcoming general elections.
Kingsley Muoghalu who made the statement via his official Twitter handle on Monday stated below….
“From the standpoint of economic transformation, presidential candidate @PeterObi has a strong, even if controversial point: that the economy cannot be driven just by (physical) infrastructure. The foundation of economic transformation is human development (social infrastructure).
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Unless and until we understand this, our economy cannot make real progress. It is the mass education and skilling of millions, access to healthcare, potable drinking water (not the business of pure water and water tankers) that lays the foundation to moving millions from poverty.
to sustainable income and wealth creation opportunities. Physical infrastructure is of course important for the economy. But 133 million poverty stricken, mainly illiterate Nigerians cannot be the most productive users of infrastructure for which we claim we have borrowed to the hilt, and for which we are spending more than 100% of our meager earnings servicing debt. This has been my position for the past two decades, and is supported by the evidence of all great economic transformations such as South Korea and China. I simply have to be blunt about this. ”
Peter Obi and his Campaign team are expected to be in Zaria and Jigawa today.
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