Business

NECA gives panaceas for sustained economic growth

Nigerian Employers’ Consultative Association, NECA, on Thursday listed Some measures to be adopted by the government to sustain the economic recovery and growth of the country.

NECA said this was important after analysing the economy in the wake of recent reports by the National Bureau of Statistics, NBS, that the country has exited recession.

NECA President, Mr. Larry Ettah, stated: “Our review of the NBS Gross Domestic Product data shows that the marginal growth recorded in Q2 2017 is weak and fragile.

Additional measures are required to ensure growth is sustainable and economy does not relapse into recession. We recommend very strong and concerted implementation of the Economic Recovery Growth Plan, ERGP, in order to boost confidence of both local and foreign investors in Nigerian economy and generate additional investment which appears critical to building a sustainable recovery.

“We are of the opinion that government needs to adopt specific, targeted and effective policies to attract and promote private capital investment in the Nigerian economy, especially into infrastructure and industry.

“So far, it does not appear as if the rhetoric in ERGP to make markets work and leverage private capital as the engine of growth has been matched by appropriate policy responses,” Ettah said.

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