Expert tasks FG on diversification of economy

A financial expert, Alhaji Babatunde Salami, on Saturday urged the Federal Government to intensify efforts to diversify the nation’s economy to other critical and more productive sectors.

Salami, who is the Group Head, North Central Two of First Bank PLC, made the call at a news conference in llorin.

He added that the current challenges facing the nation’s economy were as a result of over-dependence on oil.

He noted that this dependence was at the detriment of other important sectors such as agriculture and mining, saying exploring the potential in these sectors would provide alternatives to the country’s dwindling oil price.

According to him, the Federal Government needs to revisit the existing Land Use Act to promote agriculture and provide the necessary support to farmers by way of creating international market for their produce.

Salami pointed out that Nigeria is blessed with competent and intelligent individuals that could move the country forward.

He suggested continuous and proper education on various economic issues, especially on how best to tackle the current financial challenges confronting the country.

On the issue of tax collection, Salami advised Nigerians to comply with tax collection policies for the nation to attain progress.

The financial expert called on the three tiers of government to utilise the fund gotten from such collections appropriately.

He said that the country was in dire need of more infrastructural development.