Nigeria Needs to Do these 5 things to get out of recession – Obasanjo
During the opening of the 8th National Council on Industry, Trade and Investment in Abeokuta, Ogun state. Former president of Nigeria Olusegun Obasanjo speaking on Nigeria recession, had this suggestions to give.
1. Increase the volume of trade both internally and externally and the establishment of a commodity exchange to ensure stability in the prices of agricultural produce.
2. Put in place an aggressive coastal shipping system to boost Trans-African trade with other countries on the continent from the current 12 per cent to about 22 per cent.
3. Spend less on goods that the nation could do away with, earn more from the manufacturing sector and borrow to finance critical sectors of the economy.
4. Encourage Financial discipline, and also the political will to implement the various policies and programmes of the government aimed at taking the country out of recession.
5. Constituency projects by members of the National Assembly, must be put to stop.