Support for local production ’ll reduce unemployment – Expert
By Francis Akinnodi
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Financial experts have urged the incoming administration to embark on reforms that would enhance the country’s business climate to spur economic growth and tackle rising unemployment.
The experts spoke in separate interviews with The Hope on at the weekend.
A former Executive Secretary, Chartered Institute of Bankers of Nigeria, Dr Uju Ogubunka said the incoming government should embrace economic policies that would improve the business operating environment for corporates to create more jobs.
He added that the incoming government should upon inauguration immediately address the uncertainties in the economy to tackle unemployment.
“More efforts should be made in addressing the structural challenges impeding inflow of foreign direct investment into our shores.
“Issues relating to insecurity must be reduced to the barest minimum so as to enhance investor confidence in the economy.”
He added that the incoming government should invest in key infrastructure that would create more employment opportunities.
Also speaking, an economist, Sanya Ogunsakin said the government could tackle unemployment by supporting local production and not importation.
“Enhancing local production with the right fiscal and monetary policies, is crucial to boost the economy.”
This, he said, would boost businesses that would lead to more employment opportunities for the teeming youth.
Ogunsakin added that the Federal Government should address the rising unemployment by subsidising electricity cost for the productive sector.
Former Director National Association of Small and Medium Enterprise, Nerus Ekezie said the incoming government should tackle unemployment by investing more in the Small and Medium Enterprises (SMEs).
He added that regular dialogues between the government and the various stakeholders in the SME sector was crucial for their expansion.
Ekezie said the incoming government could boost the sector by granting tax holidays and foreign exchange for SMEs to enhance their businesses and create employment opportunities.