Moghalu promises modern leadership for Nigeria

Former Central Bank of Nigeria (CBN) Deputy Governor and presidential aspirant, Kingsley Moghalu has promised to provide modern leadership to the country if elected President next year.

Speaking at a townhall meeting of the Kingsley Moghalu Support Organisation (KIMSO) held in Minna, Niger State, which saw a huge crowd in the overflow, he unveiled a three point-agenda for Nigerian youth.

He promised to mentor and train the youth to take over effective leadership of the country; wage a decisive war on unemployment – particularly youth unemployment which reached 33 percent in Q3 2017; and dramatically improve the quality of education, to raise the knowledge and skills of Nigerian graduates, which will improve their employability and ability to successfully start their own businesses.

Professor Moghalu also promised that his government, if he is elected President in 2019, will prioritise the welfare of Nigerian women, by strengthening access to quality primary health care, supporting women in business with access to capital to grow their businesses, as well as providing political support for improvement in the participation of women in appointive and elective positions.

With regard to access to finance for youth and women entrepreneurs, Moghalu promised to setup a venture capital (VC) fund, which, as a public private partnership (PPP), will have government’s contribution of N500 billion matched by private sector contribution, raising the fund’s capital to N1 trillion. The fund will provide equity financing, with the advantages that the businesses will not be saddled with the burden of repaying loans with double-digit interest rate, and the VC fund will provide needed expertise to help grow the investee businesses.

This, according to the Presidential aspirant, will substantially reduce unemployment and poverty in the country, through the direct and multiplier effects of the venture capital fund.

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