WAY OUT OF RECESSION(2), BY: ROSELINE FADUPE

Instead of President Buhari seeking "SWEEPING POWERS" to induce the economy towards recovery, can he just listen to Rosaline Fadipe here ehn? Jack Obinyan-Obaseki... you hear? 

Rosaline Fadipe 's suggestions - Attn: Jack Obinyan-Obaseki 

1. Lower Interest Rates, they have at the beginning of this month, been raised by another 2% that in itself, is spiraling us further into hyper-inflation.....and at the same time lower Uncertainty with Uniform and gradual Policies, as Businesses are sitting on piles of Cash due to our CBN Governor constantly tinkering with our policys and no clear Strategy......and have proper Corporate Tax reform so we can woo foreign Businesses back.

2. Inject money into the Banks(or purpose tailored Funding Institutions) i.e. Quantitative Easing..... as Chino Obasi suggested, but give strict guidelines for Lending and any Bank branch that flouts the guidelines should have its Branch Manager sacked immediately.....

3. Lending preferences should be for ****all types of Manufacturing, Storage and Distribution of Agric products, setting up of, /existing SME's and Farming equipment.

4. Contracts on all Road network construction should be paid, and work closely monitored, to meet projected standards AND deadlines......

5. Cases with Accounts frozen due to EFCC investigations should be speed-ed up through the Judiciary system and  all guilty parties have their assets forfeited......proceeds of Crime should used to finance Manufacturing projects and factories, that will employ at least 50-100 people in the State where the money was siphoned from.

6. There needs to be increase in Power i.e. energy supply,  this will aid Nigeria's revitalisation of agriculture sector as well as that of  agro-processing, which will further create a friendly environment for private investment,- in conjunction with #3.

7. The need for re-evaluating and reviving State-owned companies in all the States in Nigeria, to reduce Unemployment.......and reduce rural -urban migration.

an extra one, lol 8) we need to develop our Extraction Industry.....and focus on other natural mineral resources especially in the Mining sector, the Middle belt, States especially have more than 10 commercially viable minerals we can mine that will be in the region of Oil.....

Other Contributions based the above by Olulana Alofe.
In my view........PMB's errors:
a) Numbers  1, 2 and 3 were financial instruments that I expected both the CBN Governor and the Minister of Finance to act on immediately as they are standard economic procedures......

b) instead they have raised Rates, and apparently in 1 week FOURTEEN foreign Airline businesses packed up and moved all their Aviation Operations to one of our neighboring countries, i) thereby increasing economic unrest, ii) Unemployment and iii) further downgrading us on the International Credit Rating index.....

c) rushed the TSA through, in one fell swoop, instead of staggering it, further stifling money circulation nationwide.

d) cut short the supply of FX from the Diaspora (which is their highest Export earner, besides Oil) by reducing all Money Transfer transactions to Nigeria, worldwide..... to just 3 companies? Resulting in:
e) They have now created a parallel FX exchange market, Pound exchange to Naira was 1: N295 as GEJ was leaving in June last year, it is now 1: N 515 as of this week Monday!

f) They gave FX to Pilgrims and Govt Officials at a highly subsidized rate, WHY?

g) They STILL have not closed down the parallel Aboki FX exchange market......so whats the point???

Conclusion*****
Not all our Economic woes in today's Nigeria, are GEJ induced, some I have listed here, belong to PMBs cabinet, too......