Former governor of Abia, Orji Kalu, has advised President Muhammdu Buhari to initiate policies and legislations that will bail Nigeria out of the current economic recession.
Orji told newsmen in Umuahia on Friday on the sideline of a reconciliatory meeting organised in his honour by an Umuahia sociocultural organisation, called Igurube-Egwuasa.
He expressed regrets that the recession had resulted in the closure of many companies and manufacturing concerns, while many industries were producing below capacity.
The former governor also advised the president to introduce “stimulus” that could help to stimulate the manufacturing and industrial sectors of the nation’s economy.
“The president should push for an emergency law that would help to stimulate economic growth and bring the country out of recession.
“The moment the manufacturing sector attains full-capacity production, there will be less dependence on importation and this will shore up the value of the naira,” he said.
Kalu said that the activities of Niger Delta militants further aggravated the nation’s dwindling revenue, leading to a full-blown recession.
He said that he first noticed the signs of economic recession in the country in 2014, when the Federal Government borrowed to pay the salary of federal civil servants.
“At that time, I raised the alarm that Nigerian economy had gone into recession but nobody believed me, instead, I was abused and castigated, ” he said.
(NAN)
