- The former governor
of Lagos state has said that Nigeria needs to diversify its economy away
from oil
- Bola Tinubu raised seven ways Nigeria's economy can be revived
- He said the agenda will help reduce Nigeria's dependence on oil
production
The national leader of the All Progressives Congress (APC), Bola Tinubu,
has said that Nigeria's economy can be revived through a seven point
agenda.
Tinubu said the seven point agenda will help reduce Nigeria's dependence
on oil.
Delivering a lecture in Lagos state, Tinubu said most developed
countries have focused implementing policies that would protect key
industries and employment.
The former Lagos state governor urged the federal government to create
an industrial capacity that could increase the rate of employment in
Nigeria.
He said such industrial capacity would employ large number of Nigeria's
populace as well as manufacture significant quantity of goods for local
consumption and exportation.
He also called for policies that will foster development of key
industries especially in automobiles, machinery components, textile,
steels among many others.
He said Nigeria must focus on manufacturing those things other nation
will be eager to buy.
Tinubu said: “A national economy cannot grow beyond the capacity of the
infrastructure that serves it. Good infrastructure yields a prospering
economy. Weak infrastructure relegates the economy to the poorhouse."
Tinubu further said the federal government must take the lead in growing
Nigeria's economy outside the oil sector.
He said: "The hurdles we face are not technical in nature. We must
convince those political and economic factors currently impeding our
quest for reliable power to step aside so that we may obtain this
critical ingredient to economic vitality."
“The long-term economic strength of the nation is dependent on how we
deploy idle men, material and machines into productive endeavor. And
this is highly dependent on the interest rate.
“The normal profit rates in most business sectors cannot support the
burden imposed by current interest rates. If our industrialists do not
invest in more plants, equipment and jobs, the economy will stagnate."
The APC leader further said that Nigeria must return to commodity
exchange boards that will allow farmers secure good prices against loss.
He said An agricultural loan corporation should be inaugurated by the
federal government to help achieve these goals.
“An agricultural mortgage loan corporation should be inaugurated to
further promote these goals. The proposals stated above are largely
within the province of the federal government. Focusing on these and
other such things will keep the federal government sufficiently busy,"
he said.
The APC national leader said Nigeria's future has been mortgaged by the
past and present leaders.
He also enjoined all Nigerians to join hands with the present
administration to develop Nigeria.
<div style="left: -99999px; position: absolute;">
- The former governor
of Lagos state has said that Nigeria needs to diversify its economy away
from oil
- Bola Tinubu raised seven ways Nigeria's economy can be revived
- He said the agenda will help reduce Nigeria's dependence on oil
production
The national leader of the All Progressives Congress (APC), Bola Tinubu,
has said that Nigeria's economy can be revived through a seven point
agenda.
Tinubu said the seven point agenda will help reduce Nigeria's dependence
on oil.
Delivering a lecture in Lagos state, Tinubu said most developed
countries have focused implementing policies that would protect key
industries and employment.
The former Lagos state governor urged the federal government to create
an industrial capacity that could increase the rate of employment in
Nigeria.
READ ALSO: Army confirms raid on Nnamdi Kanu's house, reveals what was
found in his compound
He said such industrial capacity would employ large number of Nigeria's
populace as well as manufacture significant quantity of goods for local
consumption and exportation.
He also called for policies that will foster development of key
industries especially in automobiles, machinery components, textile,
steels among many others.
He said Nigeria must focus on manufacturing those things other nation
will be eager to buy.
Tinubu said: “A national economy cannot grow beyond the capacity of the
infrastructure that serves it. Good infrastructure yields a prospering
economy. Weak infrastructure relegates the economy to the poorhouse."
READ ALSO: Again! Soldiers allegedly storm Nnamdi Kanu's home, cart away
properties
Tinubu further said the federal government must take the lead in growing
Nigeria's economy outside the oil sector.
He said: "The hurdles we face are not technical in nature. We must
convince those political and economic factors currently impeding our
quest for reliable power to step aside so that we may obtain this
critical ingredient to economic vitality."
“The long-term economic strength of the nation is dependent on how we
deploy idle men, material and machines into productive endeavor. And
this is highly dependent on the interest rate.
“The normal profit rates in most business sectors cannot support the
burden imposed by current interest rates. If our industrialists do not
invest in more plants, equipment and jobs, the economy will stagnate."
PAY ATTENTION: Read the news on Nigeria’s #1 news app
The APC leader further said that Nigeria must return to commodity
exchange boards that will allow farmers secure good prices against loss.
He said An agricultural loan corporation should be inaugurated by the
federal government to help achieve these goals.
“An agricultural mortgage loan corporation should be inaugurated to
further promote these goals. The proposals stated above are largely
within the province of the federal government. Focusing on these and
other such things will keep the federal government sufficiently busy,"
he said.
NAIJ.com earlier reported that Tinubu had earlier charged President
Muhammadu Buhari to revive the Nigerian economy.
The APC national leader said Nigeria's future has been mortgaged by the
past and present leaders.
He also enjoined all Nigerians to join hands with the present
administration to develop Nigeria. Read more: <a href="https://www.naij.com/1129403-how-nigerias-economy-revived-bola-tinubu.html#1129403">https://www.naij.com/1129403-how-nigerias-economy-revived-bola-tinubu.html#1129403</a></div>
- The former governor
of Lagos state has said that Nigeria needs to diversify its economy away
from oil
- Bola Tinubu raised seven ways Nigeria's economy can be revived
- He said the agenda will help reduce Nigeria's dependence on oil
production
The national leader of the All Progressives Congress (APC), Bola Tinubu,
has said that Nigeria's economy can be revived through a seven point
agenda.
Tinubu said the seven point agenda will help reduce Nigeria's dependence
on oil.
Delivering a lecture in Lagos state, Tinubu said most developed
countries have focused implementing policies that would protect key
industries and employment.
The former Lagos state governor urged the federal government to create
an industrial capacity that could increase the rate of employment in
Nigeria.
READ ALSO: Army confirms raid on Nnamdi Kanu's house, reveals what was
found in his compound
He said such industrial capacity would employ large number of Nigeria's
populace as well as manufacture significant quantity of goods for local
consumption and exportation.
He also called for policies that will foster development of key
industries especially in automobiles, machinery components, textile,
steels among many others.
He said Nigeria must focus on manufacturing those things other nation
will be eager to buy.
Tinubu said: “A national economy cannot grow beyond the capacity of the
infrastructure that serves it. Good infrastructure yields a prospering
economy. Weak infrastructure relegates the economy to the poorhouse."
READ ALSO: Again! Soldiers allegedly storm Nnamdi Kanu's home, cart away
properties
Tinubu further said the federal government must take the lead in growing
Nigeria's economy outside the oil sector.
He said: "The hurdles we face are not technical in nature. We must
convince those political and economic factors currently impeding our
quest for reliable power to step aside so that we may obtain this
critical ingredient to economic vitality."
“The long-term economic strength of the nation is dependent on how we
deploy idle men, material and machines into productive endeavor. And
this is highly dependent on the interest rate.
“The normal profit rates in most business sectors cannot support the
burden imposed by current interest rates. If our industrialists do not
invest in more plants, equipment and jobs, the economy will stagnate."
PAY ATTENTION: Read the news on Nigeria’s #1 news app
The APC leader further said that Nigeria must return to commodity
exchange boards that will allow farmers secure good prices against loss.
He said An agricultural loan corporation should be inaugurated by the
federal government to help achieve these goals.
“An agricultural mortgage loan corporation should be inaugurated to
further promote these goals. The proposals stated above are largely
within the province of the federal government. Focusing on these and
other such things will keep the federal government sufficiently busy,"
he said.
NAIJ.com earlier reported that Tinubu had earlier charged President
Muhammadu Buhari to revive the Nigerian economy.
The APC national leader said Nigeria's future has been mortgaged by the
past and present leaders.
He also enjoined all Nigerians to join hands with the present
administration to develop Nigeria. Read more:
https://www.naij.com/1129403-how-nigerias-economy-revived-bola-tinubu.html#1129403