An entrepreneur, Mr Yakub Lai Gobiri, who is also a pharmacist has called on the federal government to invest in Small Medium Enterprises and infrastructural facilities to cushion the current economic recession.
Lai Gobiri, who made the call while fielding questions from Journalists in Ilorin, the Kwara State Capital, stressed the need for government to urgently adopt economic and social measures to tackle the economic doom.
According to him, austerity measures such as reducing costs and expenditures severely will not provide immediate results to cushion the economic problem, but investing in manufacturing and real sectors would help to recover the economy.
Gobiri, said by doing so, more employment opportunities would be created and sufferings of the people would be alleviated, while prompt attention should also focused on food security.
The entrepreneur, who described the government investment in rice production in some states like Kebbi, Jigawa and Plateau as a long-term solution, asked government to provide immediate solutions to the hardship currently facing the people through food security.
He said the economic downturn had built up over years, saying that the country is a consumption nation not a productive one and its over-reliance on oil had aggravated the problem.
He also charged government to invest more in power sector, describing power as a catalyst to economic growth and noted that stable power supply would attract investors and ensure revival of moribund industries.
Gobiri who lauded the government’s war against corruption, described it as fundamental to solve the economic problem by blocking the leakages and ensuring that funds allocated for specific projects are adequately utilised.
He stressed the need to strengthen the institutions such as judiciary and rule of law, calling for judiciary reform.
He therefore noted that through stable power and infrastructural development, the problem of economic recession would be overcome and the current hardship in the country would be over.