{"id":12954,"date":"2024-08-18T08:41:51","date_gmt":"2024-08-18T08:41:51","guid":{"rendered":"https:\/\/qiraatafrican.com\/en\/?p=12954"},"modified":"2024-08-18T08:41:51","modified_gmt":"2024-08-18T08:41:51","slug":"nigerian-economist-kingsley-moghalu-faults-africas-focus-on-gdp-growth","status":"publish","type":"post","link":"https:\/\/qiraatafrican.com\/en\/12954\/nigerian-economist-kingsley-moghalu-faults-africas-focus-on-gdp-growth\/","title":{"rendered":"Nigerian economist Kingsley Moghalu faults Africa\u2019s focus on GDP growth"},"content":{"rendered":"<p>Former presidential candidate and economist, Kingsley Moghalu, has criticised Africa\u2019s emphasis on Gross Domestic Product growth, describing it as a \u201cmisguided worship\u201d that has hindered the continent\u2019s true development potential.<\/p>\n<p>In a statement on Saturday via X (formerly known as Twitter), Moghalu argued that the focus on GDP alone has stunted Africa\u2019s progress, calling for a shift towards a more comprehensive approach to development.<\/p>\n<p>Moghalu outlined five key pillars essential for Africa\u2019s development.<\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">A misguided worship at the altar of GDP growth has stunted Africa\u2019s development. The first business of African development is developing an endogenous mindset (worldview) of African development. Second: a strategy for overcoming poverty anchored on effective education and skills<\/p>\n<p>\u2014 Kingsley Moghalu OON (@MoghaluKingsley) <a href=\"https:\/\/twitter.com\/MoghaluKingsley\/status\/1824659068297908546?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 17, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He emphasised the need for an \u201cendogenous mindset\u201d or worldview that prioritises African development from within.<\/p>\n<p>He said, \u201cThe first business of African development is developing an endogenous mindset (worldview) of African development. Second: a strategy for overcoming poverty anchored on effective education and skills for productivity. Third: ensure the availability of electric power infrastructure.\u201d<\/p>\n<div class=\"read-also\">\n<p>According to him, the fourth pillar involves channelling scientific inventions and innovations into the marketplace through mass production.<\/p>\n<p>Moghalu argued that Africa must focus on turning scientific advancements into commercially viable products that can drive economic growth.<\/p>\n<p>He said, \u201cFourth: channel scientific inventions and innovations into the marketplace through mass production.<\/p>\n<p>\u201cFifth: ensure access to what I call \u2018pipeline capital\u2019 to the bottom of the pyramid \u2013 SMEs, MSMEs etc at affordable interest rates through microfinance banks (task for central banks, but not central banks themselves directly funding -no!).\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former presidential candidate and economist, Kingsley Moghalu, has criticised Africa\u2019s emphasis on Gross Domestic Product growth, describing it as a \u201cmisguided worship\u201d that has hindered the continent\u2019s true development potential. In a statement on Saturday via X (formerly known as Twitter), Moghalu argued that the focus on GDP alone has stunted Africa\u2019s progress, calling for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12955,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":7,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"X + Agencies","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,27],"tags":[1305,2982,2981,175],"class_list":["post-12954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-west-africa","tag-central-bank-of-nigeria-cbn","tag-gdp-growth","tag-kingsley-moghalu","tag-nigeria"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/12954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=12954"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/12954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/12955"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=12954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=12954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=12954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}