Presidential Candidate, Kingsley Moghalu of the Young Progressives Party (YPP) has disclosed plans to revive the economy of Nigeria if elected as president in the forthcoming election.
Asked how he intended to fix the economy, Moghalu said the country currently lacked an economic ideology, hence the country must first decide whether it is practising a capitalist or socialist ideology. He also highlighted his reform agenda for education.
Moghalu said: “So, my approach to the Nigerian economy is first to focus on reforming the educational system; ensure that our young people have the skills that can make them competitive in the 21st century and the skills that can give them jobs or help them to set up their own jobs.
“Then we will give them access to finance which my government will do through the creation of N1
trillion venture capital fund which will give equity capital, not loans that will have to be repaid.
“This is because loans carry interests in Nigeria that is too high or we may not have the collateral to be able to access them.
“So, we will invest in new businesses that will create millions of jobs within the first four years.
“Therefore, the approach that we will have is skill, capital and literacy, that is what will fix the Nigerian economy and take it into industrialisation.”
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