The 7 long over due "Macro economic policies" the Nigerian government must initiate to improve the economic status of the Nigerian masses and economy on a national scale and global scale by AdewaIe Oladipupo. K
The 7 long over due "Macro economic policies" the Nigerian government must initiate to increase aggregate demands or aggregate supply and to better improve the life of the people in terms of wellfare and job creation.
1. To remove 3 Zeros from the Nigeria #1,000 Naira not to make the #1000 Naira note become #1 Naira and #10 become 1k as the least currency denomination hence the US dollar falls flat to 80k to a 1 USD as an equivalent of the current market value of #800 Naira. Once this kicks into play, the current #100 Naira should become 10 Kobo, #200 Naira should become 20 Kobo and #800 Naira should become 80 Kobo. Ghana did this in 2006, Nigeria attempted it under Soludo in 2007 but the reasons for Charles Soludo removal in 2007 under the Yaradua Administration after being petitioned by some highly placed politicians profiting from the financial wreckage of the Naira still remains shrouded in mystery today.
2. To keep the dollar stable, the Nigeria government must put up or create room for private investor to have at least 20 functional standard refineries operating in Nigeria as 1 to 5 operating Nigeria is not enough to service the wreckage in the Nigerian economic system. The provision of multiple functional refineries would give rise to more sustainable home spun refinery based industries and attract more foreign investments.
3. Energy. The Energy sector must be revived at all cost to provide stable or uninterrupted power supply to the industries fledging in the country
4. The free trade policy must be initiated to allow more investors to come in as economic intervention stage actors. With little or no tax levied to better provide for the needs of the masses and vulnerable.
5. A robust tax incentives policy in place...
6. Technology and medical feat exposition and schorlarship in place unlike the regular art and culture most Africans are baited with amidst long list of other teeming opportunities our digital age affords us.
7. Security: No economic relevance for any country marred in insecurity saga... This is an area government must leave no stone unturned to topple every form of insecurity and terorism at the local and state level... Government should initiate a patriotic and all inclusive initiative to make security everyone's priority for the greater good of the nation at all fronts
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