Channels Television breakfast program, Sunrise Daily, had Industrialist Sam Ohuabunwa as guest to discuss ongoing recession in Nigeria. He says the government
should motivate private sector investment.Mr. Ohuabunwa said in order for the economy to be boosted very fast,
the government needs to stimulate production. And to be able to do that, the
government’s spending has to be supported by that of the private sector.
He also stated that the government should
focus on investment as though the life of the nation depends on it. He
furthermore suggested that the government should effectively show support to
anyone who exhibits productivity.
Government Sector Not Enough To Sustain
Economy
Mr Ohuabunwa stressed the need for the
government to create an enabling environment for the private sector, as the
economy cannot thrive solely on efforts of the Public Sector.
According to him, “Government has to take a
definite position as to how to motivate private sector investment, while
spending the public sector funds.
“The moment people are doing something that
would be productive and linked to wealth creation, let us give them the
support.
“A lot of Funding opportunities are being
provided by the Central Bank of Nigeria (CBN), Federal Ministry of Agriculture,
but the problem is, in implementation, we fall short,” he added.
He further said that there should be a focus on manufacturing
and agriculture; and urged individuals as well as the government to do whatever
they could, to add value as well as to get the commercial aspect of agriculture
activated.
