An economist and former presidential aspirant, Kingsley Moghalu, on Friday, condemned Nigeria’s over-reliance on oil as the major source of income.
Nigeria has been lately enmeshed in economic crisis resulting from its inability to diversify its economy and compete with other developing countries of the world.
This ugly development has afflicted other sectors of the country, especially the education system, as public universities have been shut down for months as a result of strike.
The country, given recent reports from the Ministry of Finance, has also been trapped in humongous debts affecting the survival of Nigerians.
Read also: Non independence of institutions crippling Nigeria —Moghalu
Speaking on this development via his verified Twitter handle, Moghalu, a former deputy governor at the Central Bank of Nigeria, blamed the situation on the country’s one-resource economy.
He also lamented the unprecedented theft in the sector, adding that Nigeria needed smart and new…
