Buhari should push for emergency law to pull Nigeria out of recession, says Kalu

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A former governor of Abia, Chief Orji Uzor Kalu, has advised President Muhammadu Buhari to initiate policies and legislations that will bail Nigeria out of the current economic recession.

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Orji told Newsmen in Umuahia on Friday on the sideline of a reconciliatory meeting organised in his honour by an Umuahia sociocultural organisation, called Igurube-Egwuasa.

He expressed regrets that the recession had resulted in the closure of many companies and manufacturing concerns, while many industries were producing below capacity.

The former governor also advised the president to introduce “stimulus” that could help to stimulate the manufacturing and industrial sectors of the nation’s economy.

“The president should push for an emergency law that would help to stimulate economic growth and bring the country out of recession.

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“The moment the manufacturing sector attains full-capacity production, there will be less dependence on importation and this will shore up the value of the naira,” he said.

Kalu said that the activities of Niger Delta militants further aggravated the nation’s dwindling revenue, leading to a full-blown recession.

5 thoughts on “Buhari should push for emergency law to pull Nigeria out of recession, says Kalu

  1. Releasing money to the Ministries and MDAs to carry out approved and budgeted capital projects do not need emergency powers. The Government which is the biggest spender in the economy did nothing for over 1years, but was collecting all revenue into a Single Treasury Account in Central Bank and ended mopping all investable funds resulted in the recession. Let Buhari implement the budget, pay moneys to Ministries and MDAs to executed their capital budgets. Then, money will be in the Banks, contractors spend money, employ people who earns income, and workers spend money, then money flows in the economy. But PMB held all money for over 1year and didn't spend, strangulated the economy to recession. PMB does not need emergency powers. These Military like powers may lead to full blown dictatorship, which the PMB is used to as a Military Man. It must not be given.

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