Recession: President Buhari proffers solution

– President Muhammadu Buhari advocates for strategies that involve engaging meaningfully with the private sector to raise the level of private sector investment in the economy as a whole

– Expresses confidence that the level of private investment will grow

– Says his administration is committed to exploring possible ways of turning the current challenges into opportunities

President Muhammadu Buhari says the nation needs to inculcate ‘out-of-the-box’ thinking as a way of overcoming the current economic crisis.

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According to Vanguard, Buhari gave the suggestion at a one-day ministerial retreat on the economy and the budget with the theme “Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria” in Abuja on Thursday.

He said: “The challenges we face in the current recession require ‘out-of-the-box’ thinking, to deploy strategies that involve engaging meaningfully with the private sector, to raise the level of private sector investment in the economy as a whole.”

The president expressed the confidence that the level of private investment will grow, adding that his administration is determined to make it easier to do business in Nigeria.

Buhari said his administration was committed to exploring possible ways of turning the current challenges into opportunities for the country and especially the nation’s vibrant youth on whose shoulders lie the future of this nation.

He said: “This is why we have embarked on measures and actions that will open up the opportunities we have seen in the Power, Housing, Agriculture, Mining, Trade and Investment, Information Communication Technology (ICT) Sectors, Tourism, Transport and other sectors.

“I wish to reassure its teeming youth that this Government would remain steadfast in its effort to ensure greater progress and prosperity for you.”

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He said the government cannot reposition the economy on its own, noting that the support and cooperation of the private sector’s domestic and foreign investors, and governments at all levels was also important.

Meanwhile, the federal government has described calls for President Muhammadu Buhari’s resignation by the Peoples Democratic Party (PDP) as shameless.

The minister of information and culture, Lai Mohammed, in a statement on Thursday, September 15, by his special adviser, Segun Adeyemi, said the calls by the PDP for Buhari’s resignation was an attempt by the party to distract the government from its rescue mission and returning the country to ”Egypt.”

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