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Why Peter Obi’s Claim On Foundation Of Nigeria’s Economic Transformation Is correct – Kingsley Moghalu

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Former presidential candidate of the African Democratic Congress, ADC, Kingsley Moghalu, has said claims made by the presidential candidate of the Labour Party, LP, Peter Obi, that the economy cannot be driven by just physical infrastructure is correct.

Moghalu disclosed this in a post via his verified Twitter handle on Monday.

The former Deputy Governor of the Central Bank of Nigeria, CBN, said the foundation of economic transformation is human development, noting that the economy cannot make real progress without it.

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He also stated that it is mass education and skilling of millions, access to healthcare, and potable drinking water that lays the foundation for moving millions from poverty to sustainable income and wealth creation opportunities.

He wrote, “From the standpoint of economic transformation, presidential candidate @PeterObi has a strong, even if controversial point: that the economy cannot be driven just by (physical) infrastructure. The foundation of economic transformation is human development (social infrastructure).

READ ALSO: 2023: Peter Obi Can’t Win, Yet You’re Obsessed With Him, Ezekwesili Shades Atiku, Tinubu

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“Unless and until we understand this, our economy cannot make real progress. It is the mass education and skilling of millions, access to healthcare, potable drinking water (not the business of pure water and water tankers) that lays the foundation to moving millions from poverty to sustainable income and wealth creation opportunities.

“Physical infrastructure is of course important for the economy. But 133 million poverty stricken, mainly illiterate Nigerians cannot be the most productive users of infrastructure for which we claim we have borrowed to the hilt, and for which we are spending more than 100% of our meager earnings servicing debt. This has been my position for the past two decades, and is supported by the evidence of all great economic transformations such as South Korea and China. I simply have to be blunt about this.”

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Peter Obi Meets US Consul General, Hopes For Credible Polls In 2027

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Chieftain of the Nigerian Democratic Congress, NDC, Peter Obi on Tuesday held a meeting with United States Consul General, Mr Rick Swart.

Obi made this known via his X handle.

READ ALSO:NDC Speaks On Peter Obi, Kwankwaso Joining Party

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He said “This morning, in Lagos, I met with the U.S. Consul General, Mr Rick Swart, where we discussed strengthening the bilateral relationship. We focused on promoting credible elections in Nigeria, ensuring they are free from interference, and fostering a space where all political parties, especially opposition parties can thrive, and contribute.

“We also discussed trade and business opportunities between our countries. Accompanying me to the meeting was Dr Adefolaseye Adebomi Adebayo.

“The discussion was very productive, and we are hopeful that, moving forward, Nigeria’s elections will be even more credible and transparent.”

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BREAKING: 17 ADC Reps Follow Join NDC

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About 17 African Democratic Congress, ADC, lawmakers in the House of Representatives have defected to the Nigerian Democratic Congress, NDC.

This was disclosed by Speaker Abass Tajudeen on the floor of the House on Tuesday.

Tajudeen also announced the defection of Leke Abejide from the ADC to the All Progressives Congress, APC.

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READ ALSO:JUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up

Lawmakers who defected to the NDC include Yusuf Datti, Uchenna Okonkwo, Adamu Wakili, Thaddeus Attah, George Ozodinobi, Lilian Orogbu, Oluwaseyi Sowunmi, Peter Aniekwe, Mukhtar Zakari, George Oluwande and Munachim Umezuruike.

Others are Emeka Idu, Jesse Onuakalusi, Ifeanyi Uzokwe, Afam Ogene and Abdulhakeem Ado.

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This comes barely a day after former presidential candidates Peter Obi and Rabiu Kwankwaso defected from the ADC to the NDC.

Obi and Kwankwaso have pledged to continue their pursuit for a better Nigeria in the NDC.

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JUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up

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A former presidential candidate, Peter Obi, has given reasons why he resigned from the African Democratic Congress, ADC, to join the Nigerian Democratic Congress, NDC, alongside a former governor of Kano State, Rabiu Kwankwaso.

In a long post on X on Monday, Obi insisted it was not out of anger or ambition.

Rather, he said the move is a continuation of the quest to build a new Nigeria.

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Obi wrote: “Yesterday, I formally joined the Nigerian Democratic Congress (NDC), alongside my dear brother, Engr. Dr Rabiu Musa Kwankwaso, with one clear purpose: to continue the struggle for a new Nigeria built on justice, competence, accountability, and compassion for the ordinary Nigerian.

READ ALSO:Peter Obi, Kwankwaso Formally Join NDC, Warn Members Against Litigation

“As I stated yesterday, this decision was not made out of anger, personal ambition, or convenience. It came after deep reflection on the present condition of our nation and the urgent need to rescue Nigeria from the dangerous path it is currently heading.

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“Over the years, I have remained steadfast in my conviction that politics should never be about individuals, positions, or personal gain. It must be about the people, especially the millions of Nigerians who today can no longer afford necessities, whose businesses are collapsing, whose children are losing hope, and whose future is becoming increasingly uncertain.

“I left the ADC for the same reason I left the Labour Party: the severe, orchestrated litigation and internal crises deliberately designed to ensure that I, alongside many other notable individuals, do not effectively participate in the electoral process. I sincerely appreciate and remain deeply grateful to the Leadership of ADC for the opportunity to work together in pursuit of a better Nigeria. I am particularly grateful to ADC Chairman Senator David Mark for his exceptional Leadership. I also deeply appreciate my Leader and elder brother YE, Atiku Abubakar, as well as other respected leaders within the party.

“As we join the NDC, I sincerely appeal to the Nigerian Government against the encouragement of unresolved litigations and the infusion of crises within political parties. Democracy must never become a weapon against the people. A healthy democracy thrives on strong institutions, credible alternatives, and the freedom of citizens to make choices without intimidation, manipulation, or fear. Opposition parties must not be weakened or destroyed, because when democracy loses balance, the people ultimately suffer.

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“Nigeria today is passing through one of the most difficult periods in its history. Poverty is rising. Hunger is widespread. Insecurity continues to threaten lives and livelihoods. Businesses are shutting down daily. Our young people are becoming discouraged, and many citizens have lost faith in the system. At a time like this, leadership must be driven not by propaganda or division, but by competence, capacity, character, and compassion.

READ ALSO:ADC Hails S’Court Verdict On Leadership, Demands INEC Chairman’s Resignation

“Our decision to join the NDC is therefore not an abandonment of values, but a continuation of the same mission we have always stood for: building a Nigeria where leadership is about service, where public resources are managed responsibly, where institutions function independently, and where every Nigerian, regardless of tribe, religion, region, or social status, can live with dignity, security, and hope.

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“I remain committed to working with all Nigerians of goodwill across political, ethnic, and religious lines. The task before us is bigger than any individual or political party. It is about the future of our children and the survival of our dear nation.

“I thank Nigerians, especially our youths and women, for remaining peaceful, resilient, and hopeful despite the enormous challenges confronting the country. I urge you not to lose faith in Nigeria. Nations do not change because people surrender to hopelessness; they change because people continue to believe, continue to sacrifice, and continue to stand for what is right.”

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