Former presidential candidate of the Young Progressives Party (YPP), Kingsley Moghalu has expressed that Nigeria’s constitution is an obstacle to the country achieving economic diversification.
He stressed that the constitution hinders a regional approach to economic diversiﬁcation and economic management.
Moghalu stated this while delivering a paper titled ‘Economic Diversiﬁcation and the Wealth of Nations: Lessons and the Path Forward for Nigeria’ at a conference of the Nigerian Economic Students Association (NESA) in Port Harcourt on Monday.
Moghalu stated that Nigeria witnessed its best broad-based economic growth in the first republic when resources were under regional control.
He suggested that Nigeria’s economic policymakers should help the government develop targeted export policies and incentives that would drive diversiﬁcation.
“Achieving economic diversiﬁcation in Nigeria would require a comprehensive and joined-up approach to economic policy, rather than the silo approach we have seen for many years,” he said.