Only a strong, broad-based and reliable Economic Team can help Nigeria unto economic, political and social prosperity, the Kano State Chamber of Commerce, Industry, Mine and Agriculture, KACCIMA, has said.
To this effect, the chamber called on President Muhammadu Buhari to quickly compose a strong economic team to help the country streamline its economy.
Addressing a press conference on the outcome of its two-day retreat in Kano yesterday, the president of the Chamber, Umar Dansuleka, said the economic team should include representation from public and private sectors, specialists, professionals, academicians and diplomats.
“The chamber has observed that despite efforts of the Buhari government at various levels, including security, the business environment has remained insolvent and strangulating private sector investment and growth,” Mr. Dansuleka said.
He urged the government to roll out fiscal and monetary policies that would mitigate the devastating effects of the current economic recession on the citizenry.
He also called on the federal government to establish a dedicated office to coordinate public private partnership, suggesting that the office should be established at least in the second quarter of this year.
“Government at federal and state levels should be more consistent in their policy pronouncements and ensure that right signals are sent to the private sector. Government policies should be crafted to address the promotion of real sector business and trade, signifying meritorious qualities on actions and not addressing cartels actions and business activities.
“State governments’ quest to enhance their Internally Generated Revenue (IGR) must be approached with more professionalism and cavity,” Mr. Dansuleka canvassed.
“It will be counter-productive should the states revert to the days of chaotic and indiscriminate tax system, which would overburden the private sector, especially the small businesses,” he said.
He also advised state governments to adopt and domesticate national laws on procurement, due process and fiscal responsibility to strengthen the confidence of the private sector and enhance transparency and accountability.