Nigerian Govt. Asked To Create Conducive Business Environment To Revamp Economy

As the Nigerian government grapples with revamping the nation’s economy, ideas are coming in from more concerned individuals on how to get out of recession faster.

At a strategic conference on leadership and governance at the weekend in River State, various speakers touched on the need for the creation of a conducive business environment by the government, as a way of re-energising the private sector.

For the conference, the priority of the government now should be power security and agriculture.

Participants further pointed out that the road to economic recovery in Nigerian states and national level must go beyond lip service and conferences to clear cut action plans.

The meeting was put together by the Institute of Strategic Management, Nigeria and held in Port Harcourt, the state’s capital.

Nigeria’s economy had glided into recession officially in the second quarter of 2016, with a report of the National Bureau of Statistics showing that the nation’s Gross domestic product contracted by 2.06%.

With the currency, Naira,  losing value against the dollar, the cost of goods has headed north, since most of the goods consumed in the nation are imported.

Power power supply has forced companies out of the nation to neighbouring countries.

At the moment, the nation of over 160 million population rations a little over 5,000 megawatts of electricity.

Source: Channels news