A time for the private sector to drive the economy while government calms down on regulations that stifle growth.
The collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s, according to the latest World Bank Nigeria Development Update (NDU).
A-FEEDi supports the recommendation of Shubham Chaudhuri, the World Bank Country Director for Nigeria that while the long-term economic impact of the global pandemic is uncertain, the effectiveness of the government’s response is important to determine the speed, quality, and sustainability of Nigeria’s economic recovery. Besides immediate efforts to contain the spread of COVID-19 and stimulate the economy, it will be even more urgent to address bottlenecks that hinder the productivity of the economy and job creation.
However it is good to note that government is not in the business of creating jobs; the private sector does. It’s time for the government to focus on its job- ensure enabling policies, provision of security and protection of property
