Economist urges Buhari to engender conducive environment for private sector participation

Whatapp News

AWKA – Prof. Raphael Udegbunam has urged the incoming administration of Mohammadu Buhari to create an environment that would make the private sector to thrive when he assumes office.

Udegbunam, a visiting Professor of Economist at the Nnamdi Azikiwe University, Awka, said this in an interview with the News Agency of Nigeria (NAN) in Awka on Wednesday.

 

The expert said the administration should make the economic environment conducive so that the private sector could complement the efforts of government in solving the problem of unemployment.

He urged Buhari to tackle critical infrastructure like power, transportation communication as well as ensure that projects of national importance were not abandoned as government was a continuum.

“Usually party manifestos in developing countries are not economy based but more of political; so there are problems of abandoned projects; so we expect to see the long term policies and programmes.

“What we need is a conducive environment for a private sector driven economy and reduce the situation of so much government presence on us because private sector is the way to go.

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“They must get the infrastructure working, embark on long term policies and avoid quick-fix employment system; we have to get to the roots and kick start a long term economic prosperity process, ” he said.
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On the current foreign exchange rates, the monetary expert said it was usual in the buildup of elections, adding that the the recovery cycle would set in soon.

He said that the FG should also diversify the economy and the export basket of the nation and reduce the level of dependence on oil.(NAN)

 

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