Recession: Top 4 Solutions Proposed By Dino Melaye

As Nigeria marks the 56th anniversary of her independence, the leadership at all levels of governance must begin to sacrifice more to serve both as an example and an inspiration to the citizenry to bond together and pull the nation out of the current economic recession, Senator Dino Melaye (Kogi West) has declared.

In his anniversary message in Abuja , Melaye urged Nigerians not to despair yet, but to continue to support the federal government in her determined effort to pull the nation out of the recession.

He also called on Nigerians to continue to show resolve by seeking common ground to face the difficult economic realities with unity of purpose.

Naijaloaded has compiled six solutions Melaye has proferred to the current economic crisis bedeviling the nation which if implemented are capable of fast-tracking our way out of the recession.

1. As a means of addressing the dwindling state of revenues accruing to the federal government which is adversely affecting the implementation of the 2016 budget, deliberate effort must be made to attract Foreign Direct Investment (FDI) into the country. This can be achieved by improving the security situation in the North East and the Niger Delta since no serious investor will put his his resources in a climate where insecurity is a daily fare.

2. The government must also devise ways to pacify the Niger Delta Avengers and other militant groups in the region through a very creative, robust and efficient amnesty programme. This programme must also be implemented simultaneously with a robust and sincere “Marshall Plan” for the development of the region. Sustainable peace in the Niger Delta would lead to the security of oil installations, boost oil and gas among others.

3. The diversification of the economy away from the current mainstay-oil, to agriculture and manufacturing must also be pursued more aggressively if Nigeria must be pulled out of the recession in the shortest time possible.

4. Relevant laws must be reviewed and new ones enacted to give states and local governments higher stakes and autonomy in the exploration and exploitation of solid minerals in their domains. This will breed competition amongst states and local governments, create jobs, boost the local economy and reduce unemployment, crime and other associated social vices”.