Political economist and Management analyst, Prof Pat Utomi, has urged the Federal Government to invest massively in infrastructure to take the country out of recession.
He also advised the government to make funds available to micro, small and medium scale enterprises (MSMEs) and boost the production of raw materials for finished goods to bail the nation out of the current economic challenges.
Prof. Utomi, who addressed the audience in Abuja at the quarterly lecture on monetary policy, competitiveness and development, spoke on the topic, titled: The Role of Monetary Policy in Job Creation.
The event was organised by the Economic and Business Strategies (EBS) and co-hosted by Dr. Magnus Kpakol.
The popular economist stressed the need to strengthen the nation’s institutions, saying such institutions and policy stability would in turn strengthen the economy.
Utomi said: “Our institutions are weak; We need to strengthen them. We deserve strong institutions and not strong men. A good leader also should focus on purpose and not on power.
“There is need for a strong political will to end poverty. All around the world, politics is all about how jobs can be created because it is through jobs that people can better their lives. Also, the nation’s monetary policy should have value to create wealth.”
President of Connexux Corporation, Ms. Anita Campion, called for reforms in the Agricultural sector.
She noted that because the Nigerian economy was blessed with many natural resources, the people “don’t have to suffer in the midst of plenty”.