Financial Experts On Sustainable Development With Buhari

Financial experts on Wednesday urged the
President-elect, Muhammadu Buhari, to ensure the
appointment of technocrats and not politicians in
the management of the nation's economy.
In separate interviews that appointment of
technocrats was essential for economic growth and
development.
Mazi Okechukwu Unegbu, former President,
Chartered Institute of Bankers of Nigeria (CIBN),
told NAN that appointment of technocrats in key
areas of the economy remained critical for
economic growth.
Unegbu said that the president-elect should tackle
corruption and ensure economic agenda that
would impact positively on all sectors of the
economy.
He, however, called on the National Assembly to
enact friendly laws that would drive both small and
big businesses in the country.
Unegbu said that the Federal Government, under
the new dispensation, should pursue proper
Foreign Direct Investment (FDI) that would reduce
unemployment rate.
He also said that multinationals such as
telecommunication companies, Shell, NNPC,
should be encouraged to list on the Nigerian Stock
Exchange (NSE) to create employment.
Mr Ariyo Olushekun, immediate past President,
Chartered Institute of Bankers (CIS), urged Buhari
to set right environment for both local and foreign
investors.
Olushekun said that security challenges of the
country should be tackled to boost investors'
confidence.
He suggested the development of the non-oil
sector of the economy such as agriculture and
power, to complement earnings from crude oil.
According to him, government must encourage
survival of small and medium enterprises through
good policies and operating environment to boost
employment.
"The only way the huge unemployment rate of the
country can be tackled is through SMEs
development," Olushekun said.
He also called for more development of the capital
market ascribed as the engine growth of the
economy.
Olushekun said that the market should be
positioned by the government in such a way that it
could finance all developmental projects.
Mallam Garba Kurfi, the Managing Director, APT
Securities and Funds Ltd., called for an
improvement in revenue generation through
taxation.
Kurfi said that the president-elect should map out
strategies aimed at addressing tax leakages in the
country.
He said that total revenue generated should be
improved upon to at least 20 per cent against the
current figure of 12 per cent.
Kurfi said that diversification of the economy was
important in line with the current realities at the
international oil market.
According to him, insurgency in the northeast
should be tackled head on because the economy
could only survive with security.
Kurfi also stressed the need for effective railway
system, noting that expansion of industries across
the country could be achieved with good transport
system.
He called for the privatisation of the refineries and
listing of all the privatised government agencies on
the nation's bourse
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