NATIONAL ECONOMY : PERMIT STATE GOVERNMENTS TO GENERATE POWER AND DISTRIBUTE SAME . . . TED INEGBEDION.

By Mike ALADENIKA.




Faced with the economic challenges attendant to effects of COVID- 19 on Nigeria and it's economy, a Frontline chartered accountant and former Managing Director of Comet Merchant Bank, Chief Ted INEGBEDION has called on the Federal government to a state of emergency on the Nation's Economy in the face of dwindling oil revenue as a result of the Coronavirus pandemic.

Chief Ted inegbedion in an exclusive interview with SPARKNEWS NAIJA said the country missed the opportunity of economic recovery and growth by not  harnessing the benefits of the civil war and oil boom hence its imperative to declare a state of emergency on the nation's economy to stimulate growth as the global  crude oil price, the country's main source of revenue continues to fall.

The retire chattered accountant who advocated the need for the Federal government to open up relevant sector of the economy to enable formal participation of experts. Stressing that the state governors be encouraged to invest and operate in the power sector by owning power plant, an idea he said would help the economy to grow.

Chief Ted Inegbedion  harped on the need to infuse professionals into critical sectors of the economy while also encouraging Nigerians in diaspora to come ,invest and contribute their quotas to national development.

He maintained that there is urgent need to invest more in mass transportation which must be privatized, while  funding of microfinance banks be increased  to enhance their capacity to support small, micro and medium enterprises.
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