Follow Us on Google
By Merit Ibe
The National Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA) has called on the Federal Government to prioritise revitalising the industrial sector for more inclusive economic growth..
The Chamber noted that statistical estimates show that 83 million people, which is about 40 percent live below poverty line with additional 53million people (about 25%) being vulnerable.
President of the Chamber, John Udeagbala, who made the call at the press conference on the state of the economy yesterday, suggested that the Federal Government should create and maintain an enabling environment that is investment friendly and entail enunciating and maintaining policies that remove bottlenecks to business investments.
He further advised that the government should address the various factors that are capable of increasing cost of doing business, saying if these critical issues are addressed urgently, the economy will be positioned for foreign direct investment and encourage local investors into establishing industries that will enhance job creation and improve GDP.
Supporting the redesigning and printing of the naira by the Central Bank of Nigeria (CBN), Udeagbala said it was long overdue adding that the move will help control currency circulation outside the banking system, enhance monetary policy control as a measure to further control inflation.
“Improve currency security, electoral transparency and reduce curruption arising from possible vote trading during electioneering campaign towards the 2023 elections.
“While we note useful decision of the CBN, we encourage appropriate mix of both monetary and fiscal discipline and expenditure by both the government and political gladiators.
