Shell Energy Entrepreneurs banner Yudala banner
Economist urges Buhari to overhaul economic model

By News Express on 24/06/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 1,951


An economist and South-South Zonal Coordinator, Institute of Chartered Economists of Nigeria (ICEN Mr Friday Udoh, has advised President Muhammadu Buhari to adopt new economic models to revamp the ailing economy.

Udoh gave the advice in an interview in Yenagoa on Tuesday.

He urged the president to jettison the unfavourable economic policies adopted by previous administrations that were unable to grow the economy in real terms.

He recommended the Regulated Asset Based (RAB) financial model, which has been effective in managing    economic dysfunctions.

According to Udoh, the RAB model is multidimensional economic, social and innovative means in managing the downturn and insurgency facing the country.

He cautioned that over reliance on military might alone, will rather aggravate and escalate insurgency in the country as the problems required a multi sectoral approach to achieve desired results.

“It is necessary at this point in time and following loss of opportunities, in adopting this trade model   to grow our domestic economy by the previous administrations.

“RAB was left out in awarding large sum contracts to foreign companies and some Nigerian registered companies without recourse to this internationally and widely acceptable and legally available trade instrument,” Udoh said.

He stressed that the RAB model will harness local and regional consumption of pharmaceutical products, Urea, methanol among other bye products of gas in high demand rather than sell gas at unfavourable price

He also urged the present administration to build four petrochemical plants to refine petrochemical raw materials and manufacture petrochemical products to stem capital flight and create jobs and grow the economy.

“We need to add value to the hydrocarbon resources and in doing that creating new jobs.

“We should also be considering investment in National carrier and jettison Public Private Partnership much touted by the previous government.

“There are inadequacies in the existing law required to drive a sustainable PPP system in an economy of this magnitude,” Udoh said

•Photo shows President Buhari.

Source News Express

Posted 24/06/2015 05:52:57 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
NIPR honours Transcorp Hilton PRM

Why Stephanie Otobo, Keyamo are after me —...

Dangote Cement Q1 earnings rise by 79.5%

Execution of Shi’ite cleric worsens Middle East crisis;...

Nobody can Islamise Nigeria, says Sultan of Sokoto...

BP cuts CEO pay by $8 million after...

Delta Speaker lauds oldest reigning king as he...

Police captures 10 suspected cultists in Lagos

Burkina Faso coup leader Gen Diendere charged with...

PENGASSAN’s dispute with Exxon threatens Nigeria’s oil output...

Court discharges Senator Ndume of terrorism charges

Anambra intensifies IGR drive as Obiano deploys POS...

 

Latest News Ace footballer George Weah assumes office as Liberia’s new President Suspected herdsmen set Falae’s farm ablaze Enugu to rehabilitate federal road linking it with Ebonyi and Anambra neglected since the early 1980s Presidency raises alarm as foreign terrorists flood Nigeria PFN rejects establishment of cattle colonies Fresh PDP makes U-turn, denies collapse No cause for alarm over MPC — Emefiele •Says economy remains strong 2019: Buhari strong enough to run — Presidency INEC deploys website technology for electorate, candidates Primary, secondary schools grounded in Bayelsa Weatherman predicts rain showers today over Southern Benin, Warri, Yenagoa, Port Harcourt, Calabar, Eket Access Bank slammed with N200m suit over unlawful account freeze

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,342 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (306,863 views) Shameless Genevieve Nnaji exposes breasts in public (245,605 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,826 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,464 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,860 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,991 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,377 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,338 views) Lagos plane crash: Journalist releases victims’ names (124,791 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,148 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,166 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,854) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,752) Interviews (139) Live Commentary (28) Love Matters (100) News (32,075) Opinion (868) Pidgin (10) Politics (4,365) Religion (667) Sports (1,408) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!