NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Economist urges Buhari to overhaul economic model

By News Express on 24/06/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,154


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 Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Online publishers congratulate Buhari, salute Jonathan, Jega, Nigerians...

Ozubulu Church Massacre: Perpetrators demanded $1m to stop...

Rising incidence of extra-judicial killing in Nigeria, By...

Rivers APC alleges plot to pull down Buhari...

U-17 World Cup: Golden Eaglets won fairly and...

National Conference and a squandering of riches amid...

Anambra 2013: How Nollywood stars stormed APGA rally...

Peace Mass Transit Chairman constructs N400m roads in...

NDLEA nabs 619 suspected drug traffickers in Kano...

Buhari cancels foreign trip at the last minute...

Jonathan’s kinsmen pass vote of confidence on Governor...

Nigeria to lose billions without oil sales reforms...

 

Latest News UBA shareholders approve N22.23bn dividend for 2017 Lawmaker loses 10 family members in road accident Drug Abuse: Over two million bottles of codeine consumed daily in Kano Protesters storm Melaye's residence as security operatives invade premises 2018 budget: MDAs have complied with FG’s directives –Akabueze …Says 2019 elections won’t affect implementation Dangote Cement appoints Makoju Managing Director/CEO Atiku to unveil agenda for Nigeria Wednesday JOHESU Strike: FG sets up committee to review unions’ demand Sex for marks: OAU asks Monica Osagie, to appear before panel Tuesday Ekiti 2018: Buhari grants Fayemi leave of absence as minister Zamfara Govt. increases corps members’ allowance ahead of 2019 elections Hope rises for increased power supply as TCN inaugurates 100MVA transformer

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,672 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,648 views) Shameless Genevieve Nnaji exposes breasts in public (267,791 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,205 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,112 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,118 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,853 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,208 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,132 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (139,049 views) Lagos plane crash: Journalist releases victims’ names (136,906 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,597 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,069) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (483) Features (569) Global Business Monitor (264) International (1,924) Interview (149) Live Commentary (28) Love Matters (116) News (34,704) Opinion (916) Pidgin (10) Politics (4,808) Religion (723) Sports (1,484) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement