Thursday, 23 February 2017

How Nigeria can get out of recession – NLC

The Nigeria Labour Congress (NLC) has given a hint on how the nation can get out of the current economic recession.The work force on Thursday said the government must design policies that would bring back industries, create productive jobs, revive public electricity, revalue the naira, encourage the growth of informal economy, resume local production of petroleum products and develop solid minerals and tourism, among other resources of global economic values.Speaking at the 5th Quadrennial National Delegates Conference of the National Union of Civil Engineering, Construction, Furniture and Wood Workers, president of the NLC, Comrade Ayuba Wabba, said with the way Nigeria depended in import, it would be difficult to move of the economic quagmire.Wabba said “We do not need any lecturing from the IMF or any external institutions to do this. We have vibrant and experienced experts that can develop policies on these.
Indeed, government should as a matter of urgency, convene a conference on the economy or assemble an all-inclusive team to develop an economic recovery framework that is people driven and people focused.The NLC boss added: “There can never be any external institution or country that will better develop policies that will serve the interests of our people and country than ourselves.Happily, Nigeria is not in shortage of development experts that can fashion out profound, totally home grown development policies to move the country forward, if our leaders have the desired political will to call the bluff of over-bearing neo liberal institutions.Our economy seems to have gone into a tailspin with the crash of the Naira and with the Central Bank appearing unable to offer a sustainable solution.The truth of the matter is that we are an import-dependent economy and no import dependent economy easily survives recession except they take bold and conscious decisions. I urge our leaders to take those decisions today so that history will absolve them of complicity.”

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