Experts advise FG on post-recession management

Economic experts have advised the Federal Government to liberalize and privatize all infrastructure to sustain the post recession and have a strong foreign reserve to attract foreign investors to Nigeria. They also contended that instead of raising foreign loans to pay debts, government could realise over $500b from privatization of assets in five years.

The experts, who spoke at the monthly seminar of the Ibadan School of Government and Public Policy (ISGPP), titled, “Transiting from Bust to Boom: Fiscal, Financial and Infrastructure Options” bemoaned various government properties, rotting away in different parts of the country and wondered why such assets could not be utilized to raise funds.

Presenting a lead paper at the Seminar, the Chief Executive Officer (CEO), Economic Associates, Dr Ayo Teriba noted if “breaking government monopoly by licensing new entrants have worked in the telecoms sector, it confirms it can also work in the rail and road transport, health, education and sports”.

By liberalizing some sectors, embracing joint ventures as done in the oil and gas sectors and partially or wholly privatizing assets, government will realize the revenue needed to shore up foreign reserves, boost non-oil revenue, build more infrastructures and also widen access to finance for the Nigerian business people.