Dr Samuel Nzekwe, a financial expert, has appealed to the Federal Government to make emphatic efforts in providing enabling environment for productive sector to thrive in 2024.
Nzekwe, who is also former President, Association of National Accountants of Nigeria (ANAN) made the appeal while speaking on Monday in Ota, Ogun.
He spoke against the backdrop of the figure released by the National Bureau of Statistics (NBS) that inflation rate increased from 28.20 per cent in November to 28.92 per cent in December 2023.
He noted that provision of enabling environment such as stable power supply, providing sufficient forex for manufacturers, good road network and adequate security, was necessary to make the productive sector function at the optimal level.
Nzekwe said the inability of the sector to produce enough goods was contributing to the persistent rising of nation’s inflation rate.
“The Federal Government needs to redouble its efforts to formulate impactful policies and provide enabling environment for productive sector to stimulate the economy.”he said.
Nzekwe said with conducive environment in place for productive sector, the country would surpass the World Bank’s projection of 3.3 per cent growth rate for 2024.
He added that more revenue would be generated for the country through exporting of some of the products which would reduce heavy pressure on the country ‘s currency.
The Ex-ANAN president further said that this would bring down the continuous rising of inflationary trend in the country.