Nigeria’s Economy Focuses More On Macroeconomics And Ignores Human Development. -Kingsley Moghalu
Vložit
- čas přidán 22. 10. 2023
- We find poverty increasing while we are concerned with the GDP growth rate and less concerned with GDP per capita, which has flatlined.
Prof. Kingsley Moghalu, Former Deputy Governor, CBN
Subscribe to our Channel for high profile interviews. Follow us on Twitter at / arisetv |
and Instagram: / arisenewsofficial |
and Facebook: / arisetvnews |
Check out our website www.arise.tv
This is Developmental Economics Master Class 101 in less than 20mins... According to Prof: The problem with Nigeria's economy is that we do not understand how to fix it! Gbam!! Any prosperous economy operates at 4 levels: Philosophical (organising vision and philosophy of any country i.e. the philosophy that drives the country's economy); Institutional level- interactions btw institutions and markets; Macro economics e.g. inflation, taxation, debt management etc., and lastly Human development e.g. health, education, longevity etc. ... and also to be a successful nation there must be Property rights (instead of the Land Use Act currently in place), Innovation (i.e. creative destruction) and thirdly Access to capital ... and to really fix Nigeria's Naira problem is to allow the Nigerian economy to be an export-driven economy amongst others like boosting investors confidence by allowing the Central Bank to be independent, raising interest rates to close the gap btw the lending rate and inflation etc. - Very interesting conversation indeed!
Prof Moghalu ran for the presidency twice, and was ignored by Nigerians. They only have themselves to blame for this mess.Instead Buhari ( a man who has comprehension issues) and Tinubu (a man bedevilled with issues regarding honesty and truth) have been elected. Will Nigerians ever learn?
The same thing Peter obi said! “Move the country from consumption to production”
Shey Peter get brain ni?
If you must argue, argue objectively and with facts. Don’t come here with the lies and propaganda of your certificate forger president.
@@futurerace86 Now, Enjoy your Tinubu brain with highest inflation rate in the entire world 🤣🤣
"Consumption to production" says the biggest importer of finished goods in Nigeria.
Peter Obi is hypocritical.
@@mcdaniayo3711 Enjoy your drug baron administration with 1300k per dollar and leave Peter Obi alone. Your drug baron has never done any legitimate job throughout his life. He has destroyed the nation within 5months in office. He claimed he built Lagos that has been capital city and colony for more than a century and you people agreed with him, we shall see who suffer most at the end. We are all in this rubbish together. 🙏🤣
Charles and Kingsley; I can listen to both men for hours without qualms. Intellect and brilliance 😊
I hope Obi reclaims his mandate and make Kingsley the CBN Governor.
Kingsley Moghalu is one of Africa's brightest mind in Economic management
Hope
@@oluwatoyinemiolaojo4562stop spreading misinformation. It can be irritating. The cbn governor Sanusi accused the government via (nnpc) for unaccounted money.
@@oluwatoyinemiolaojo4562Was he the one who stole it? Even if you have no objective evidence, give us a speculative one he is the one who stole it, please.
@@oluwatoyinemiolaojo4562 CBN is a big institution and every one has areas he manages and controls. Yes, there was a time when money got missing and Governor Sanusi raised alarm, challenged President Jonathan and he was threatened with resignation.
Sanusi was a good CBN Governor and Kingsley supported him to succeed.
Of course Kingsley was never accused of corruption. He is a billionaire, and not greedy. He just wants to serve NIGERIA and make things better for you
@@oluwatoyinemiolaojo4562PWS eventually did a forensic audit. $20B wasn't missing. Do you know how big $20B is? How much does Nigeria make in a year from Crude oil sales that $20B will get missing without anyone knowing?
IGBO MAN
This are what we’re
We must be included before Nigeria gets better
Lol
Prof. Muoghalu needs to come back and finish this intellectual dissection of Nigerian economy and geopolitics .
Charles, you have a mastery of the english language and a spectacular ability of articulation of any topic you choose for your program. We used to have another senior journalist of your calibre in Cameroon Radio and Television Corporation albeit he hadn't the freedom of expression the media enjoy in Nigeria. You'd make a perfect fit as lecturer in the school of journalism and/or dep't of english language and literature of any tertiary institution in the world!
Charles is goated. His confidence and articulation skills are top notch🎉
Charles is goated. His confidence and articulation skills are top notch🎉
Your written English is just as good as his dialogue, you underestimate yourself my Cameroonian brother.
I totally agree Charles always prepares his questions before the interview
Will differ with Moghalu, we do have a philosophy in Nigeria, its a philosophy of man know man to succeed, corruption, no accountability, religious sentiment and reliance on God for our basic needs.😢
That is not real philosophy
This show is the most intellectual and educative program I had ever watched on all Arise Tv platforms. It opens my eyes and expand my experience more than ever.
Good job Mr. Charles for given the wide space and allowing Pro. Kingsley to established a huge comprehensive analysis. The interruptions were moderated. There were no too much of breakings unlike some journalists who are too emotional to ask questions and vehemently interrupted their guests. Thank you both!
These are the leaders we need!!
They won't because of tribal enslavement. Ọlọrun a kó wa yọ
We need more time to listen to Prof. Kingsley .
I HAVE ALWAYS SAID IT. NIGERIA IS NOT A NATION BUT A SPACE FOR RELIGIOUS AND TRIBAL COMPETITION. WE SHOULD COME TOGETHER AND DISCUSS HOW TO RESCUE THE DIGNITY OF THE BLACK RACE AND MAKE IT OUR COLLECTIVE VISION.
The market has been pretty bad until today it decided to go up. Everyone was practically crying then. He continued to dive. That's what you get when you feel like you can navigate the process on your own. Many thanks to Alvarez Micheal. I am not worried about how bad the market is because my assets are insured due to your advice and I continue to receive my profits.
A wise person must know that in order to build success, they must invest wisely and have the proper knowledge or guidance in the financial market.
After a long search for a professional trader with consistency combined with good profits, I often come across Alvarez and his exploits in the trading world, but I have no idea how to contact him
Trade with the expert trading services of Alvarez Micheal. With her strategies I have been able to recover what was lost and I continue to win.
I have negotiated with him and only applying his strategies, now I operate independently. I recommend it to anyone ne whose losses haven't stopped and to those who want to keep making profits.
@Investwithalvarezmike, that's his info on....
He tried so hard to be President of Nigeria in 2019, but the ugly Nigeria system frustrated Kingsley
The politicians have no will or ability to force a reset of Nigeria.
It is a daunting task solving an arithmetic problem with a wrong formular.
That's exactly why we are where we are today.
Kingsley Moghalu echoes many things Peter Obi said.including Human Capital development
And exporting your own manufactured products. That's how to grow your economy. That's what China did.
Brilliant minds outside the corridor of power
Thoroughly enjoy listening to Professor Moghalu .
Listening to you my elder brother is like listening to the Gospel
Blessings
Obi has been saying these things since.
This man's thinking is crystal clear. Everything he's saying is 💯
just the same old economic theory from Smith's wealth of Nations book. Nothing new
This is largely a repeat of what he published in a book, and he has said these things on many previous occasions. It's just that no one was listening...
A group of selfish, corrupt, rogue politicians, making promises of building an economy, for Nigeria ?
I laughed in Swahili !!
People who caused the economic problems, debts and poverty; promising to solve the problems ? I laughed.
If Nigeria was a sane Country this man would be the CBN Governor of Minister of Finance, but in Nigeria capacity competency and commitment does not matter. Upside down Country. Why not simply turn it into 3 or 6 different Countries, and let everyone develop at their own pace or at least the UAE model of a confederation. Insanity is defined as doing the same thing yer after year while expecting a different result.. Nigeria is insane
Ahh. God… This man is so knowledgeable Ehn
Always such a joy to hear intellectual persons speak about the issues
Now I understand our problem
APC have borrowed our 30 years future already. They re about to buried our next 30 years in DEBT going forward.
Brillant Moghalu. The 4 principles he talked about is key for our growth. The maroeconomics will are even doing, we dont do it well. And our politicians do not care about Human development, every politicans use Lagos as a model when it comes to insfracturre which is actually affecting smaller states becuase they dont care about the development of the people which is key in any soceity
Brilliant
This man is so brilliant, I have downloaded this video and will be waiting it alot . This man should be the head of the Nigerias Central bank governor but politics won't give him that chance
He has already done that. He was the Central Bank deputy governor from 2009 to 2014. He was denied the Nigerian presidency due to the ignorance of Nigerians.
Nice one..
Kingsley Kingsley... This guy is very sound each time I hear him speaks, it actually remind me of the "king of Dubai" the same dream and philosophy. How he developed Dubai under a twinkle of an eye. I wish he was the president of the federal republic of Nigeria.our country would have been a bless Nation.👍❤️
Make una give Igbo man this country to run am well for una
It is not about Igbo. It is about sane personalities. There are several Igbos that have ruined their states. Some of them are today murderers, killers, election riggers just the same way we have imbeciles like these in other tribes.
Lol
My brother let Igbo man start by running their state excellently as examples. If you're not faithful in the little greater things shall not be committed unto you.
💯
The Gods are not to blame
But raising the interest rate will increase cost of borrowing and then reduce the ability to finance
Expansion of production. If i will say, it should be opposite of that and then we need ro look for a way to defend the Naira till we have a well stabilize export oriented economy. We can't grow to become export oriented if our industries can't access Capital at a cheaper cost plus we don't need foreign portfolio inflow in My own opinion As Mr Kingsley put it, we need foreign direct development investment that can partner with the country to really help our production effort. All his answer look short term sensible but it put us a total long term disadvantage. Any CBN governor that will come must look at economic policies that will make nigeria develop from within not trying to make policies to access cheap Foreign cash inflow that will cost us more on the long term. We must realise that Nigeria inflation are mostly imported so what we need to do is look for way to ensure massive internal production to reduce need to import.
I don’t understand why Prof. KM is not going anapple time
Why did Charles interrupt prof. Moghalu's flow on Nigerian's apathy to theories?
Even the so called GDP growth is questionable.....it contains huge govt spending [ printed money ] with a conservative inflation rate no....... people should use GDI [ gross domestic income ] which is more realistic and revolves around mostly disposable personal income.......and relates closely to human developmental indices .
I agree with most things he said but i disagree with increasing interest rate. Nigerian inflation is not as a result of too much money in circulation but rather cost of living and energy. License several modular refineries, regulate all those guys in the creek to start refining crude find every means to decrease the cost of energy and you would see inflation falling like rocket. Same thing was done in USA. When the inflation was getting to 10% Biden brought out the strategic petroleum reserve, took off the tax and many more to reduce cost of energy which help to reduce inflation.
Interview talk ..
Buhari n Emefiele should be jailed
Jail For life
I am a Nigerian living in Brazil. I like watching your shows. There is still hope in Nigeria because our problems are now, at least being discussed openly on television so the whole world will know that we are not a country of idiots. What the interviewer was saying is what every country that wants to take part in the world has to aspire to. That is the vision or the objective. That is how companies operate. You cannot be a CEO or even an executive of any big corporation unless you lay out the vision you have for the company. This vision should be focussed on economy first, in order to have a strong nation. Thereafter, every other thing follows. If you want, I can elaborate more on this.
DID I HEAR INCLUSION?🤣🤣🤣
Arm chair critique
Just a note of his last few points contrast with what he initially said. Dr Moghali said Nigeria should increase interest rates to combat inflation yet in his last statement said 'Capital' is so expensive to access in Nigeria. Africa or Nigeria needs her own philosophy that we must make to work for us. Nigerian Western-educated scholars like him should come up with this workable philosophy, and stop the confusion, as on the one hand pushing Western policies/philosophy that was built on the exploitation of the global south because most of them are based in the West and work for these exploitative organisations. The whole conversation was just depressing, nothing new.
Thanks for sharing your point. I agree he needs to clearly state what Nigeria's economic philosophy should be.
Can we have an independent cbn that's still accountable?
All we do in nigeria is speak big English grammar and build church buildings all over Nigeria Useless people we have become. Now to make Nigeria economic great we have to buy everything Nigeria make things in Nigeria spend our money in Nigeria. People around the world thinks Africans We are not complete human being Because of the way we think some of us We'll leave Nigerian owned restaurant go to Chinese restaurant and the worst part is some of us see nothing wrong with that not knowing the Chinese families will never take their families to Nigeria or African restaurant in China passing by Chinese restaurants.
APC will always find a reason why the economy is not working, or something the blame but them .
The politics of Nigeria cannot the likes of moghalu
They two can't co exist one will finish the other
The same reason obi was severely rigged out to the point that he was rigged and rigged till they couldn't anymore that the had to let Lagos go hmmmm
There re so many bright mind from all sectors of Nigeria just like moghalu
God help us
Easy to say than to do.
If interest Rates goes to 25% today. Arise TV will bring critic’s that says things like,”Tinubu just doing the bidding of the western investors and killing lending to local investors.
Everyone only try to speak the opposite without thinking of the impact and perception of the citizens who bears the brunt directly.
Moghalu should start his economic intelligence from being a state governor, talk is cheap
Who will allow him win? The opposition will still rig him out.
You can hear him say he did not lean towards the view but resent events make think it is a solution for immediate inflow to stabilize the naira.
The problem of the government is they do not educate Nigerians on what they want to do, how they want to do it, the benefits of doing it and the timeline. No reasonable person will argue if a genue reason and plan is laid before them. They will only wait to see the result and if the result is not as expected then they can complain on how to it went wrong.
Not everyone have the strength to go into Nigeria politics that is not free and fair. His own way of contributing was to be a former cbn deputy governor and he also come out to advice the government.
He doest have to be in government before he can advice.
easier said than done
P
La cram la pour Tinubu
Tinubu is just too old. Look at how he speaks!!
joe biden not old? trump not old? you really don't have something good and beneficial to say. For your information old age is a big blessing
In his concluding remarks, he made a contradictory statement. Initially, he believes interest rate should be increased as a means to attract portfolio investment in the stock and bond markets, but later argued about inaccessibility to capital because It's expensive. 😂😂😂😂
But raising interest rates and access to capital are not mutually exclusive in my view. Lending to MSMEs for local production can be subsidised but must be well-structured to ensure accountability and ROI.
@justice5787 I think the govt might need some non-profit bank like Germany to execute such subsidy. So my question is how would you implement the subsidy?
You cannot build something on nothing! You can chase around symptoms all you want, you are going nowhere without first working on the root causes of your problems.
How patient are Nigerians to get back to fix the root. We want a change on 6 months. We all know the problems, but we are not patient to build for the long term.
@@canwetalknow You think Tinubu can build Nigeria he destroyed within 5months.
Nigerian president is very good for excuses. You ask for the job now you're giving us excuses . Did you say that on day 1, you hit the ground running, but you're flip flooping on your policies.
IPOB GROUP WANTS TO TEACH US ECONOMICS ..SE IS VERY BAD ECONOMICALLY AND THEY WANT TO TEACH US NONSENSE
They're far far more advanced and ahead in managing the economy than you people, so when they speak you listen, Ngozi Okonjo Iweala as a DG in world bank and president of world trade organization (WTO) is not by mago mago but purely by merit, so they know better in terms of economy, leadership and business.
That's why IPOB is buying off your lands even in your region while you lavishing in abject poverty and hate.
As in e dey pain dem, e go dey sweet us 🤣🤣🤣. Igbo man will always be financially on top and until we rule, Nigeria will remain poor in economic development.
You are a fool, can you mention any of your tribe men compared to Dr .Ngozi Iweala, Professors Soludo and Kingsley Moghalu in terms of Economy expert.
The current CBN Governor knows nothing about the economy but is brought in by his master to do his bidding.
Your high interest rate proposition is also capitalistic in nature. It only promotes the capitalist rushing in money to multiply it quickly at the expense of the poorer investors and the consumer. How can the poor borrow with such high interest rate. You just contradicted yourself there, if you just said everyone copying capitalism.
He said that was in the short term to stop the current catastrophic slide of the naira
It is very easy to talk ..Put him there now and you will not see any change
When he was at CBN as deputy governor things were far far more better, because they were good heads, at least dollar to naira then was between #100-#150 for almost 8 years, so he knows better.
You have already concluded that he will not fo anything, has he been given the chance? This is why Nigeria will never move, it is being held down by its citizens.
@@ukwuomaezinne7480 Relax ..You are Ibo so i don’t reckon with you ..We are in a political war
I don’t trust him ..He is ibo
@@oscarlagoke8920 Keep hating Igbos. Enjoy your hatred. Why can't you people agitate for Igbos to leave the country?
Moghalu is all talks and no balls.
He once blamed the youth for his abysmal political failures. Waited to no avail to get appointment from tinubu, now he's talking again. He's not different from the hypocritic elites
Are you jealous of him already?
Moghalu does not need appointment from Tinubu and will not request. Moghalu has integrity, but Tinubu does not have any integrity.
People who get appointment from Tinubu are people without integrity
I've never seen an economist say so many correct things, and then say so many incorrect things in the same session... Some moments, KM sounds like he understands reality, and then a minute later he'll sound like a man that only knows pure theory written by onyibo intellectuals who never left the west. That does somehow explain how he can be both intelligent and yet ineffective, I guess.
Please point out the wrong things that he has enumerated.
IPOB journalist interviewed IPOB economist 😂😂😂
Our mumu no go ever do
Sorry is your name. Nonentity
You nailed it ..This is IPOB shit
@@user-rb9hi1pm2b your IPOB father
Thank you sir
The Gods are not to blame