A former presidential hopeful, Kingsley Moghalu, on Thursday said that the many challenges facing Nigeria would not be addressed except it returned to true federalism which would guarantee states the power to control their resources.
POLITICS NIGERIA reports that Moghalu who spoke in Abuja during the Nigeria Social Cohesion Dialogue, said without social cohesion, “Nigerians will labour in vain”.
The former deputy-governor of the Central Bank of Nigeria (CBN) who was the keynote speaker at the event, stated that Nigerians desire a genuine variation.
“I am a firm believer in restructuring Nigeria back to true fiscal federalism, ideally along the lines of regions, but with the existing states as well. Nigeria cannot survive and thrive without it.
“Nigerians should demand of all presidential candidates, on the record, their specific positions/proposals on they will achieve security, constitutional restructuring back to real federalism, and economic transformation,” Moghalu said.
Nigeria is a developing country. The country’s Gross Domestic Product (GDP) is far too low, as are the country’s living standards.
Despite having the largest economy in Africa, industrialisation in Nigeria lags behind most other major economies.
