Home Breaking News FG Must Focus On Power, Agriculture To Grow Economy – Experts

FG Must Focus On Power, Agriculture To Grow Economy – Experts

As 2021 fiscal year winds down and the federal government settles for the implementation of 2022 budget, economic experts have made fresh calls on the federal authorities to be strive for inclusive growth in the implementation of the N17 trillion 2022 budget, with special focus on economically viable sectors of the economy.

The general view is that the government should build a template with the capacity to trigger productivity, value addition and transform the economy into a job creating one, with special focus on stable power supply and practicable transformation of the agricultural sector.

On sectoral basis, experts say government should focus on power, agriculture, manufacturing, telecommunications, IT and even access to relatively cheap finance.

Government is also expected diversify the economy with robust micro, small and medium enterprises (MSME) growth, invest in critical infrastructure, strengthen security and ensure good governance.

The budget has aggregate capital expenditure of N5.35 trillion (32.7 per cent of total expenditure). The provision is inclusive of capital component of statutory transfers, government owned enterprises capital and project-tied loans/expenditure.

Professor of economics at University of Benin, Hassan Oikhenan said government should give unstinting attention to the fixing of the power sector, given that it is in the sector that the battle to reboot the economy is fought and won or lost.

Prof. Oikhenan said productive expenditure must be made on the power sector if the manufacturing production and indeed overall industrial production must be revived.

CDA Newshttps://cdanewsonline.com
BEST SELLING BLOG THEME OF ALL TIMES. Follow us for more breaking news . Share,, like and Comment on our contents


Please enter your comment!
Please enter your name here

Most Popular

Independence Day: FG declares Monday a public holiday

In commemoration of Nigeria’s 63rd Independence Day anniversary, the Federal Government has declared Monday, October 2, 2023, as a public holiday. The Minister of Interior,...

Pipeline repairs gulp N34.47bn in 18 months – Report

With the challenge of pipeline vandalism lingering in the country, the Nigerian National Petroleum Company Limited spent almost N34.47bn to repair and manage pipelines...

Burkina security agencies foil coup attempt against junta leaders

A coup attempt against Burkina Faso’s military rulers has been thwarted by the country’s intelligence and security services, authorities said. Burkina Faso’s military rulers said...

NNPCL fails to remit N2.8tn tax, says NEITI

The Nigerian National Petroleum Company Limited did not pay approximately N2.8 trillion in taxes to the Federal Government in 2022, according to the Nigerian...

Recent Comments