Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has advised President Bola Tinubu that Nigeria’s economic challenges cannot be effectively addressed without adopting a new constitution. Hecriticized Tinubu’s response to The Patriots’ request for a new constitution, emphasizing that the current 1999 Constitution lacks the fiscal federalism necessary for genuine economic transformation.
Moghalu argued that Nigeria’s economic struggles are rooted in the absence of real federalism, which hinders productive economic development. He stressed that delaying the implementation of a new constitution will only prolong the country’s economic difficulties. According to Him, the lack of a unified national vision and purpose is a fundamental obstacle to achieving economic growth driven by productivity.