There are worrying indications that the federal government is deep routed in Nigeria’s failing economy.
From the falling dollar, comatose economic policies, the administration of President Muhammad Buhari is seen as complacent in reviving the economy,experts at a roundtable in an African independent television program, ‘Business half hour’, monitored in Abuja on Wednesday blamed the government for its inability to stimulate the economy with sound policies.
According to them, the economy was suffering. For instance, they took a swipe at the government for providing the hard earned dollar to religious faiths in the name of pilgrimage, lamenting that such quantum of dollars at the N197 rate it was donated could have been given to genuine Nigerian businessmen who would have deployed such funds to meaningful imports of raw materials or bring in meaningful technology the country would have in turn benefited through tax.
“The dollar allocated to Muslims and Christians is wrong, the economy ought to benefit first, business is first, forget religious sentiments. Such quantum of goodwill would have stimulated the economy if businessmen and women benefited” they argued, stressing that everybody should serve their God with their money.
They queried the government for not setting standards, pointing that even after the dollar rain; government would have directed the CBN to extend such gesture to businesses instead of manipulating foreign currency to serve certain groups. Speaking further the specialist disclosed that Nigeria was finished with oil since the global oil market share the country previously enjoyed is being occupied by Angola, South Africa and the US while it is also not exchanging anything with the world now .
Going forward, they charged government to protect the Naira, create policies that stimulate export in agriculture and identify something that could also create talents for export.
Economic experts who gave their insights at the roundtable are Bashorun Aderoju and Professor Mary Nwoye of IBB University, Niger State.

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