The Presidential Steering Committee on Global Economic Crisis has warned of a looming rise in crime rate in the South-East geopolitical zone.
A former Chairman of the group, Mazi Sam Ohuabunwa, and Director General of Onitsha Business School, Professor Segun Sogbesan, issued the warning at a workshop organised by the Onitsha Business School, Anambra State, following the economic downturn in the country, adding that more kidnappings and armed robberies would be recorded in 2016.
The Chairman expressed the need for the Federal Government to create an enabling environment that would drive a private sector-based economy.
According to him, “There will be more kidnappings, armed robbery and youth restiveness in various parts of the country this year as a result of the economic downturn.
“The Federal Government should create an enabling environment that will drive a private sector-based economy.
“In a downturn such as the one the country is currently passing through, only the private sector would save the nation from the doldrums.
“There would be need to encourage businessmen to undertake aggressive exportation,” the Chairman noted, describing the privatisation of the power sector as one issue that was giving a negative impact on private businesses.
He said the development had collapsed many businesses, especially in the South East.
“We have only one electricity distribution company in the whole of South East and this has encouraged monopoly,” Ohuabunwa added.
He, however, suggested frequent capacity building and enlightenment of the business class in the area to enable them to embrace modern trends in business.
In his remark, Professor Sogbesan said, “Nigeria has the capacity to reverse the recession in the country in a short time possible, through aggressive management.
The DG maintained that the country had products that were in high demand in foreign markets, which he listed to include bitter kola, cashew, kaolin and sugarcane, adding that ‘the solution to our problem is for Nigerians to engage in export to earn dollar and we have abundant products that can earn us the hard currency.
“The way out of the country’s economic downward spiral is for Nigerians to engage in ventures that would earn them foreign currency, especially the dollar,” Professor Sogbesan stated.
Comments