• Says chasing growth without building institutions leads to fragility, inequality
Emmanuel Addeh in Abuja
Former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has said that taxation in Nigeria and across Africa must be tied to visible public benefits rather than what he described as ‘elite consumption’.
Besides, the President, Institute for Governance and Economic Transformation (GET) warned that countries that pursue economic growth without building strong institutions often end up with fragile economies marked by inequality and instability.
Speaking at the 2026 International Civil Service Conference organised by the Office of the Head of Service of the Federation in Abuja, Moghalu argued that governance reform remains the foundation for economic transformation and regional stability, stressing that no nation can achieve sustainable prosperity without competent state institutions.
