In his submission, Dr. Orji Uzor Kalu, posited that the manufacturing sector must be boosted with more money to stimulate its performance. He further said more money must be put into the Bank of Industry and other development institutions to revitalise them.
He stated: “In commenting on the 2025 budget, I would like to align myself with my colleagues to commend the President of the Federal Republic of Nigeria for considering defence as an important area. If we do not keep ourselves safe, I don’t see how we can even do anything in Nigeria. For making defence and security a top priority, it means we will do a lot to go back to agriculture, but once we go back to agriculture, I will like to see where this budget will address some issues and put stimulus into banks, like the Bank of Agriculture, the Bank of Industry, so that we can put back stimulus into the economy. If the economy is not stimulated, what we are talking about bringing the dollar lower, is not going to happen because doing more in agriculture where export production must be key, is what we are going to be looking at in 2015.
“So, I’m appealing to you, Mr. Senate President, to redirect some issues that will give back to the economy, like providing stimulus to the Bank of Industry and other agencies.”