APGA National Chairman, Barr. Sly Ezeokenwa emphasizes the need for a comprehensive approach to address Nigeria’s economic challenges and the need for President Bola Ahmed Tinibu’s reign to succeed! – NDUKA ANYANWU
The APGA National Chairman emphasizes the need for a comprehensive approach to address Nigeria’s economic challenges. Some of the advocated solutions include:
1. Diversification of the economy: Expanding the economic base beyond oil and gas to sectors like agriculture, manufacturing, and technology will definitely reduce this vulnerability and create new job opportunities.
2. Infrastructure development: Investing in critical infrastructure like power, transportation, and water supply to enhance economic productivity. Prioritizing infrastructure development through increased investment, public-private partnerships, and efficient project execution can stimulate economic activities and attract both local and foreign investments.
3. Fiscal discipline and transparency: Ensuring accountable governance, reducing corruption, and the implementation of various needs/dividends of democracy
through optimized resource allocation. Ensuring fiscal discipline is crucial for sustainable economic growth. Effective management of public finances, reducing wasteful spending, and improving revenue generation through tax reforms, broadening the tax base, and tackling corruption can enhance government revenue and improve the overall economic situation.
4. Human capital development: Investing in education, healthcare, and social welfare to build a skilled and competitive workforce. A skilled workforce is essential
for economic growth. Investing in education, vocational training, and skills development programs can equip individuals with the necessary skills for employment and entrepreneurship. This will enhance productivity, competitiveness, and innovation across various sectors.
5. Encouraging entrepreneurship and SME growth: Judiciously supporting start-ups, small and medium-sized enterprises, and promoting innovation. Simplifying
bureaucratic procedures, reducing regulatory burdens, and improving the ease of doing business can attract investments, stimulate entrepreneurship, and create
a conducive environment for business growth. Streamlining processes, reducing red tape, and enhancing transparency can help businesses thrive and contribute
to economic development.
6. Addressing poverty and inequality: Implementing policies to reduce poverty and inequality, and promoting inclusive growth despite the harsh economic realities. These programs should be designed to empower individuals, reduce inequality, and provide a safety net for the most marginalized.
7. Promoting international trade and partnerships: Enhancing economic diplomacy, trade agreements, and strategic partnerships.
8. Investing in technology and innovation: Leveraging digital transformation, renewable energy, and innovative solutions to drive economic growth. By addressing some of these listed above challenges, Nigeria can unlock its economic potential, ensure sustainable growth, and improve the living standards of its citizens. It should be noted here that the route to greatness requires, critical and strategic reasoning. Therefore, the APGA Chieftain opined the overhauling of the various portfolios to drive this critical reformation under President Bola Ahmed Tinibu’s reign.
Note: This article is written on behalf of Barrister Sly Ezeokenwa, the APGA National Chairman
