Sango-Ota (Ogun), March 5, 2020 Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN), has advised the Federal Government to boost critical infrastructure to sustain Nigeria’s emergence as the biggest economy in Africa.
Nzekwe gave the advice in an interview with the Daybreak in Ota, Ogun, on Thursday.
The Accountant said the critical infrastructure were electricity, good road networks and security.
He spoke against the backdrop of Bloomberg’s Tuesday’s report on Nigeria’s emergence as Africa’s biggest economy,
Nzekwe said that the Federal Government should also translate the benefits of being the biggest economy in Africa to Nigerians.
The Bloomberg’s report noted that Nigeria’s Gross Domestic Product (GDP) grew by 2.55 per cent in fourth quarter of 2019, saying that economic growth rose by 2.27 per cent in 2019, up from 1.91 per cent in fourth quarter of 2018.
“The Federal Government needs to create an enabling environment for production sector to thrive and produce at optimal level.
“The country should consume less imported goods and export more goods to boost its GDP.
“The Small and Medium Enterprises (SMEs) will then have opportunity to thrive and improve employment opportunities in the country,” Nzekwe said.
He noted that provision of an enabling environment would drastically reduce the nation’s inflation rate as well as sustain the the nation’s present status as the biggest economy in Africa.
The former ANAN president said that this would also make the country to benefit from the African Free Trade Zone (AFTZ) agreement recently signed by the Federal Government.
, March 5, 2020 Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN), has advised){kind=link}