Prime Business AfricaIn exclusive interview with Prime Business Africa on Monday evening, former Deputy Governor of the Central Bank of Nigeria and top contender for Nigeria’s Presidency in 2023, Professor Kingsley Moghalu fielded questions from senior correspondents IZUCHUKWU OKOSI and VICTOR EZEJA on the country’s economic challenges, the 2023 general elections and future of its political economy. He said that the current state of Nigeria’s economy and politics has triggered new alignments that would spring up a coalition of angry voters to create the desired change in 2023.
So much hype about the Mega Party project; what updates, and do you have hopes of emerging as candidate whenever the Third Force dream comes to fruition?
The proposed alliance and fusion of a number of political parties to create a major – and the real – Third Force in Nigerian politics ahead of the 2023 elections is not about an individual and his or her aspirations. It is a coming together of progressively-minded political parties, elements of civil society
and other entities to present a common platform to win the elections and begin the rescue and transformation of Nigeria. So, you cannot put the cart before the horse. We will be coming out with this new formation in a few weeks, hopefully.
Yes, I have offered myself to lead our country as its president come 2023, and have been quite transparent about my aspiration and the vision on which it is anchored. It’s an aspiration for the transformation of our country that will require the capabilities of several people, not just one person, but someone must be the President and Head of the team.
I believe I have the vision and the capacity to discharge that leadership role given what I think is a perfect match between my competences and profile and what is needed for effective national leadership in today’s Nigeria. From nation-building to nation security, from the economy to foreign affairs, I’m very well prepared.
So, if my party the African Democratic Congress (ADC) and others in the mega party alliance find me worthy of representing them as their flagbearer, I’d be honored.
And if not? Besides, looking at the polity in Nigeria where APC and PDP seem to be dominating the scene, what are your strategies to take your campaign to the grassroots for better visibility and acceptance?
The first priority is to emerge from the primaries. After that, the real campaign begins. But we are already developing our structures nationwide, as well as the messaging that will drive our presidential campaign. It will be unveiled at the appropriate time.
What do you think can be done differently to rescue the economy and boost productivity, in view of the current run-away inflation and general poverty in Nigeria?
The economy must be diversified in the sense of value-added industrial manufacturing as a percentage of the GDP and the contribution of such value added exports to the foreign exchange stability, and it hasn’t yet, despite the rhetoric and the political claims of achievement here and there.
A successful economy that is productive is like a pregnancy; it can’t be hidden. As President, I will also use innovation and technology to drive diversification and productivity, and we will seek private sector financing and management of a venture capital fund that will drive job creation. Most importantly, we will restore a healthy balance between the roles if the state and the market. Right now, that fundamental measure is unbalanced and distorted. The government is too involved in market decisions, and that is destroying the economy by promoting cronyism and the poverty of the broad population.
In 2019, you contested in the Presidential election and eloquently spoke about your economic plans for the country if elected. Has that blueprint changed in the light of the performance of this current federal government?
I have just explained my blueprint in summary. It has not changed between then and now.
Who does Nigeria need most in a President at this time; a sound economist who has great ideas or an experienced political leader?
Nigeria needs a leader with a sound economic vision and the capacity to drive it at a political level. “Experience” in Nigerian politics is overrated. What has it achieved for us in the past 23 years. The mess we find ourselves in today was created by “experienced” politicians!
The worship of politics without governance is what has destroyed Nigeria. Of course, we need good political leadership, but how we define it is the problem. We need politicians who are visionary, who have the character, capacity and competence to develop our society and make life better for the average Nigerian. That requires strong experience and skills in things like the economy, nation-building which involves managing diversity and building strong institutions, and then foreign affairs and international relations.
There seems to be an unwritten law in Nigeria that makes it difficult for technocrats to emerge as presidents. How can a good Nigerian who has not been in politics for considerable number of years become president at this time when many older politicians are desperate to keep power?
Unwritten laws are the easiest ones to change. All that is required is a re-education of voters and other components to a winning strategy. The time also appears right and ripe for political disruption because of the battered state of the country. Many people are tired of the failed status quo. We just have to turn them into a winning electoral coalition of voters.
What’s your assessment of the Anambra election and what does the conduct and outcome of that election portend for the 2023 elections?
It reflected the will of the people broadly, although the voter turnout was very low at somewhere around 10%. I think it also showed the limits of money in politics without other factors voters are looking for.
What is your opinion on the 1999 Constitution generally and the question of state police?
The 1999 Constitution obviously has outlived its usefulness as a framework for constituting the Nigerian state. It needs a fundamental overhaul to restore the true federalism the military destroyed in Nigeria, and which was the foundation on which we became an independent country.
State police is an absolute necessity. Nigeria is the only so-called federation I know of where policing is exclusively the preserve of the central government. That’s why security in Nigeria has progressively broken down.
What advice would you give to young Nigerians who on daily basis leave the country for greener pastures abroad, and senior citizens who seem unable to stop that?
Survival is the first law of nature. So, I understand and do not blame young people who want to leave for pastures where they can survive. As President of Nigeria my government will build an economy to which a lot of young people will want to return. If conditions are normal, then east or west, home is best.
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