The former Deputy Governor of the Central Bank of Nigeria, CBN, Professor Kingsley Moghalu, has countered a claimed that was made by the presidential candidate of the Labour Party, Mr Peter Obi, that economy of a nation can’t be driven by infrastructure alone.
While speaking, Professor Moghalu made it known that from the standpoint of economic transformation, the Labour Party’s presidential candidate, Mr Peter Obi has has a strong and controversial point, by saying that economy cannot by driven by just physical infrastructure.
Furthermore, he noted that the foundation of economic transformation is human development, which he described as social infrastructure. He went on and stated it clearly that unless we are able to understand that, our economy cannot make any meaningful progress.
In addition, the former CBN deputy governor noted that it is the mass education and skilling of millions, access to healthcare and portable drinking water that lays the foundation to moving millions from poverty.
It should be recalled that the Labour Party’s Presidential Candidate, Mr Peter Obi, once made a claim that economy of a nation can’t be driven by physical infrastructure alone.