Former governor of Anambra State, Peter Obi, has blamed the federal government’s lack of clear cut economic policy direction for the country’s present economic woes.
Obi made this assertion in Lagos, Thursday, while presenting a keynote address at the first annual conference of Guild of Corporate Online Publishers (GOCOP).
The former banker turned politician drew a comparison between Nigeria and some countries who had similar experience as ours to drive home the point that the federal government has not put in place a policy direction which the citizens can easily follow and buy into.
He compared Nigeria situation to that of countries like South Korea, Thailand, China, India. He noted that as at 1980, only China was at par with Nigeria in terms of foreign reserve and GDP. The reserve then, according to him was at about $10 million for both Nigeria and China, while Thailand and South Korea was at about $3 million.
However, he pointed out that while China’s reserve had grown to about $7 trillion, about 35 times of what it was in 1980, Nigeria can only boast of meager $30 million in reserve.
Obi then called on the President Muhammadu Buhari led federal government to come up with clear cut, measurable and easy to follow economic policies for the country to come out of recession and turn around the fortune of the country.
He highlighted three key areas that the government needs to focus and get leverage as aggressive savings, diversification to manufacturing and value added export, as well as investment in developmental education.
Obi noted that while the non oil sector is contributing about 80 percent to the nation’s GDP, the government has not really tapped into the available opportunities in the sector.
He emphasised that China is where they are today because they have clear cut economic directions and the people are able to measure and follow. He noted that they diversify their economy into knowledge based exports. This he said is the way for our nation to go.
Earlier, the chairman of the occasion who is also the spokesperson to President Muhammadu Buhari, Femi Adesina had called on the members of GOCOP to operate as professionals and eschew hate speeches and fake news.
Adesina assured the over 40 online publishers present that the Buhari led government is committed to the liberty of the press and would in no way mudsling the media.
The minister of information, Alhaji Lai Mohammed was represented at the event by the Managing Director of News Agency of Nigeria (NAN), Bayo Onanuga. He admonished GOCOP to establish code of conducts for members in order to ensure professionalism. He also encouraged the group to involve continuous training of its members for effectiveness and efficiency.
Newly elected members of executives were sworn in at the the event with the oath of office administered by Mr Bayo Onanuga.
Another keynote speaker at the event, Prof Akin Onigbinde pointed out that that nation must consider a productive restructuring. He said that restructuring is not all about regional disintegration, but empowerment of the states to tap into the available resources in their state and better the life of their citizens.
Onigbinde noted that late Chief Obafemi Awolowo was able to achieve a lot as the Premier of Wester Region, to the point of lending to the federal government at some point.
