Why 2017 budget may not bail Nigeria out of recession

Posted by Newsexpress | 23 December 2016 | 2,001 times

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A university don, Prof. Park Idisi, says that the 2017 budget may not bail Nigeria out of its economic recession without adequate measures being put in place.

Idisi, who is a senior lecturer at the University of Abuja Agriculture Department, made this known in an interview with the News Agency (NAN) in Abuja on Thursday.

He, therefore, urged government re-organise the system and cut down emoluments of public office holders, lawmakers and political aides in Nigeria.

“The National Assembly members still collect their allowances as if there is no recession; there is no way Nigeria can come out of recession if this continues.”

He said that government should set up industries that would produce heavy equipment, such as cars, caterpillars among others in order to reduce the countries over dependence on foreign goods.

The don stressed the need for the government to give adequate financial support to the small-scale industries so as to boost the economy and create more jobs for the youth.

“The Nigerian government must be serious about the growth and development of small-scale industries and it must be genuinely handled, monitored and managed.”

The professor noted that the current agricultural revolution should focus more on supporting farmers with fertiliser among others inputs.

He called on the government to demonstrate sufficient commitment to research and development the same way it is fighting corruption to move the nation forward. (NAN)

•Udo Udoma.

Source: Newsexpress

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