Moghalu slams Africa’s economic policies as ‘borrowed, ineffective’

President of the African School of Governance, Dr Kingsley Moghalu, has criticised the lack of philosophical depth in African economic management, describing much of the continent’s economic thinking as reliant on ineffective, borrowed ideas.

Speaking on the Toyin Falola Interviews on Monday with the theme, “Leadership in Africa,” Moghalu described many strategies adopted by African governments as “empty” and expressed concern over the uncritical adoption of Western economic models without understanding their foundational principles.

Moghalu, a former deputy governor of the Central Bank of Nigeria, emphasised that ethical and philosophical foundations are critical to successful economic systems.

He lamented Africa’s absence of a coherent philosophical framework, which he argued has led to the wholesale adoption of foreign models that fail to address the continent’s unique realities.

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