Nigerian Economy Not Being Properly Managed

economy
  • Nigerian Economy Not Being Properly Managed

The Centre for Social Justice on Monday called on President Muhammadu Buhari to rejig key personnel in his administration to enable Nigerians to benefit from the campaign promises of the All Progressives Congress-led government.

The group in its assessment of the two years in office of the current administration, lamented that majority of Nigerians were now living below the poverty line as the economy had not been managed in the most efficient manner.

The group’s assessment report was made available to our correspondent by the Lead Director, CSJ, Eze Onyekpere.

It called on the Federal Government to urgently address the twin problems of unemployment and poverty, adding that the decline in economic activities had made life so miserable and intolerable for many people.

The report read in part, “In periods of grave national economic crisis, every nation needs a leader who unites and mobilises all the latent and potent energies of the people around the national cause of getting out of recession on the premise that everyone will work.

“The economy has not been managed in the most efficient and reasonable manner to enable the Federal Government to fulfil its obligation of improving the standards of living of Nigerians. Majority of Nigerians are now living below the poverty line and life has become so miserable and intolerable for the majority.

“Thus, the Federal Government needs to take concrete and targeted steps towards rejuvenating the economy and inclusively ensuring that all hands are on deck for this national assignment.”

It also called on the government to fully implement the Executive Orders rolled out by Acting President Yemi Osinbajo as well as harmonise fiscal and monetary policy positions.

The groups said there was a need to “rethink the privatisation of the power sector so as to bring in competent and capable investors with financial capacity, especially at the Discos, so as to bring in new resources to turn around the sector.”

It stated that the review of the power sector privatisation was imperative for the improvement of capacity utilisation in industries, beefing up manufacturing and general economic turnaround of the country.

The CSJ also called on the government to split the Ministry of Power, Works and Housing into three distinct ministries and appoint transformational professionals with core competencies to run them.

On the budget, it urged the government to immediately commence the preparation of the 2018 appropriation and ensure that it gets to the National Assembly on or before the first week of September this year.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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