Ahead of 2019 elections, Andrew Nevin, Nigeria’s chief economist for PricewaterhouseCoopers (PwC), has chosen Young Progressive Party (YPP) presidential candidate Kingsley Moghalu as the candidate with the most credible economic plan.
Nevin said the economic manifesto of YPP presidential candidate Kingsley Moghalu is superior because of its detailed look at the range of capitalist models, arguing precisely what will work in Nigeria.
“Dr K (referring to Kingsley Moghalu) has the most incisive analysis of the unsustainable fiscal regime and is willing to face up to our looming debt crisis,” Nevin said on his LinkedIn page.
The chief economist at PwC noted that Moghalu rightly recognises that there is a need for rural Nigeria to prosper if the country is going to succeed. “Fifty-three percent of Nigerians live in rural areas and it is not sufficient for just Lagos do to well or even Lagos, Kano, Port Harcourt, and Kaduna we need all of Nigeria to do well.”
“Dr K faces up squarely to the federal/state restructuring issue – he is courageous enough to say not only do we need restructuring, but also that at least 30 of 36 states are economically unviable, so only a restructuring that reduces the economic units (back to 6 in Dr K’s case) can work for us,” Nevin said.
Nevin noted that the five critical policies from the YPP manifesto that will have a particularly positive impact on reversing the country’s decline include: Partial privatisation of the NNPC, with a listing on the NSE, abolition of the Land Use Act, elimination of the fuel subsidy, engagement of the Diaspora, and real restructuring.
Before arriving at the conclusion, Andrew Nevin reviewed the economic plans of four presidential candidates comprising of ruling All Progressives Congress (APC) by incumbent, President Muhammed Buhari using Economic, Recovery and Growth (ERGP), People’s Democratic Party (PDP) by former vice president Atiku Abubakar using Let’s Get Nigeria Working Again, Allied Congress Party of Nigeria (ACPN) under Obi Ezekwesili using Project Rescue Nigeria plan and Young Progressive Party (YPP) by its presidential candidate Kingsley Moghalu using Build, Innovate, and Grow – My Vision for our Country.
“So of the manifestos of the APC, PDP, ACPN, and YPP, only the YPP’s Manifesto has the coherence and boldness to reverse our current economic path,” Nevin said.
Nevin noted that the analysis was purely from a purely economic perspective (not a political perspective) and do not consider other critical issues Nigeria faces (corruption and security being the most important), noting that the views he expressed do not represent the views of any organisation associated with him.
“Let me say on a positive note that all candidates recognise that we cannot continue to get poorer and poorer, as they have put considerable effort in their economic policies. All at least state that we need to have a vibrant private sector if we are to succeed, ” Nevin said.
Nevin urged all Nigerians to exercise their hard-won democratic rights, noting that what the nation has accomplished during the short time since the military rule has been astonishing and wonderful.
“Let me re-iterate again that these are my personal views and do not represent any of the organisation with which I am affiliated,” Nevin said.