How Nigeria can get out of economic recession - ORJI UZOR KALU

Former governor of Abia State, Chief Orji Kalu,
has stated that the only way out of the current
Nigeria’s economic mess is for President
Muhammadu Buhari to initiate policies that will
bail the country out.
Orji told newsmen in Umuahia on Friday during a
reconciliatory meeting organised in his honour by
an Umuahia socio-cultural organisation, called
Igurube-Egwuasa.
The business mogul urged the president to
introduce “stimulus” that could help to stimulate
the manufacturing and industrial sectors of the
nation’s economy.
He said, “The president should push for an
emergency law that would help to stimulate
economic growth and bring the country out of
recession.
“The moment the manufacturing sector attains
full-capacity production, there will be less
dependence on importation and this will shore up
the value of the naira.”
Kalu observed that the activities of Niger Delta
militants further aggravated the nation’s
dwindling revenue, leading to a full-blown
recession.
He said, “At that time, I raised the alarm that
Nigerian economy had gone into recession but
nobody believed me, instead, I was abused and
castigated.”
Kalu, who founded Progressives Peoples Alliance,
PPA, after defecting from the Peoples
Democratic Party, PDP, in the twilight of his
administration, said that the party was still
relevant in the nation’s politics.
He said, “PPA is not struggling, it is as good as
other parties in the country.”
In another development, Federal Government is
set to release the sum of N350bn for capital
projects captured in the 2016 budget.
The Minister of Finance, Mrs Kemi Adeosun, said
the additional N350bn will bring the total capital
releases by the government to N760bn.


Source :naijaloaded
Edited by DANIEL IKECHUKWU EKWUNIFE