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Orji Kalu reveals how Nigeria can Get Out Of Economic Recession


Foremost entrepreneur and former Governor of Abia State, Dr. Orji Kalu, has expressed confidence in the policies and programmes of the President Muhammadu Buhari-led government. Kalu stated that in the long run, Nigerians will appreciate the state of the nation at the expiration of Mr. President’s tenure of office.
Dr. Orji Kalu
He explained that the current administration is faced with multifaceted challenges, and as such, should be given more time to actualise its vision of building a prosperous Nigeria. According to Kalu, the economy of Nigeria will improve in the nearest future, if only Nigerians collectively join hands with government at all levels in correcting the anomalies that have, over the years, killed the Nigerian economy.


He noted that the only way out of the current economic woes is for Nigerians to embrace other sectors of the economy, in particular agriculture, and also drop their taste for foreign products. Speaking with a cross section of African Students of Military Academy, Sandhurst in the United Kingdom after a dinner in his honour at The Dorchester Hotel yesterday, Kalu said: “Despite the current economic situation, Nigeria is still one of the largest investment destinations in Africa owing to her vast human and natural resources.

“Before independence, Nigerians earned foreign exchange in large sums from the solid minerals and agricultural sectors. Unfortunately, with the discovery of oil in commercial quantities, Nigerians dumped the lucrative agricultural value chain and now that the oil price is down and coupled with the bombing of oil installations in the Niger Delta, the economic indices of the nation are unfavourable and calls for immediate remedy.

“I am aware that Mr. President has rolled out several initiatives to support the diversification of the Nigerian economic base to recover us from the wounds of overdependence on oil. The N500 billion budgetary allocation (2016) for social investment programmes will go a long way in alleviating poverty.


“However, government must look beyond its nose by identifying experts in the field of economics and finance to exchange ideas with business people in order to chart the course of rebuilding and reviving the ailing Nigerian economy.

“In addition, the composition of an independent body with members drawn from the organised private sector, government, civil society organisations, development partners and key stakeholders to serve in an advisory capacity for the purpose of putting in place pragmatic strategies to stimulate local economy will also yield positive results.”

The former governor took the opportunity to call on the Niger Delta Avengers and other aggrieved interest groups to cease fire and dialogue with the Federal Government in the spirit of patriotism.

He added that the heterogeneous nature of Nigeria should be seen as an advantage, pointing out that the future of the country lies in the hands of Nigerians regardless of religious, political and ethnic differences.


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