Breaking News

Recession Exit: Baba-Ahmed seeks new policies to crush poverty

Dr Hakeem Baba-Ahmed, Chief of Staff to Senate President, on Wednesday advised the Federal Government to come up with sound policies to improve the management of the economy and crush poverty.

Bab-Ahmed gave the advice in a telephone interview with newsmen in Kaduna while reacting to the report by National Bureau of Statistics that the country has exited recession.

He said that the government must use the opportunity to address political and social issues in the country so that ordinary Nigerians would benefit from the economic changes.

“This is good news for all patriotic Nigerians.

“We are very aware that the fundamental causes of the recession goes very far and deep; they are related to neglect of options that Nigeria should have taken up long time ago, rampant poverty, rampant corruption, poor policies, and weak political will.

“The nation needed to pay a huge price because a mono economic such as Nigeria’s was bound to pay a price when prices crash.

“But in the two years of President Muhammadu Buhari administration, we have seen both the worst and the best; the worst is the crash of revenue from petroleum crude which plummeted to levels that you cannot blame this administration.

“And we have also seen a near miracle that the agricultural sector has benefited tremendously from both combination of policies and strong political will to support those policies as well as the willingness of people to adapt to changes.’’

Baba-Ahmed therefore expressed the hope that the trend would translate into more positive growth for the country especially in improving the livelihood of the common man..

“One will hope that we will now support this turn around with sound policies that will improve the management of the economy and build national consensus around the needs of the country, which include addressing political issues.

“There are a number of ways that will make Nigerians feel the impact that they are out of recession.

“First of all we need to see increase funding in social sector to crush poverty, we will like to see policy that will put more money into circulation, into market, productive activities.

“Cost of living must be kept low and the rate in inflation must be fought relentlessly, and we should diversify the economy in such a way that people who are existing on marginal end of the economic ladder begin  to feel the impact of the economy.

“These are really important; poor Nigerians must feel that the recession is over, otherwise the whole gain would be lost,’’ the chief of staff said.



Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.